Cookiemom, Home Seller in Sheepshead Bay, Broo...

Is a corner lot 2 family in Sheephead Bay with 2 car garage, back yard worth more than in middle of street?

Asked by Cookiemom, Sheepshead Bay, Brooklyn, NY Sun Aug 23, 2009

Looking to sell but house in poor shape, but feel lot is worth a lot. Has front and side yard too. Don't know square footage but it is a two family house. How do you know if a realtor isn't low balling the listing price? Not sure if comparables being used are corner lots with all that space and garage.

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Hi Cookiemom, I agree with Mitch also. However you already stated that it is in poor shape. How poor
we do not know. I suggest you interview a few agents and compare what they can bring to the table.
I also would love the opportunity to interview we are in the neighborhood too, and have sold many homes is Sheepshead bay as well as all over Brooklyn.
2111 avenue U
0 votes Thank Flag Link Thu Apr 18, 2013
Dear Cookiemom:

Generally speaking corner homes were preferred by professionals such as doctors and dentists etc. Mitch is correct that there are many factors including lot size that impact the final sales price.

Bonnie Chernin and David Rogoff
Fillmore Real Estate Branch #19
2926 Avenue J
Brooklyn NY 11210
917-593-4068 – David mobile
646-318-5031 – Bonnie mobile – E-mail
0 votes Thank Flag Link Tue Jun 21, 2011
Dear Cookiemom:

The only time a corner lot carries more value is when either a) It is on a larger lot as compared to similar homes on the middle of the block or b) if you come across a buyer who just so happens to like corner lots. Beauty is in the eyes of the beholder, some buyers do not want corner lots, others love them. In the end it kind of balances out. It also depends what's on the corner, is there a traffic light, bus stop, etc.?

The only way to determine if a realtor is low balling you would be to interview several agents and see what types of estimates of value they give you. Some agents will low ball trying to make their job easy, others will highball you to insure that you list with them and not another broker. An honest broker (which I like to think is the vast majority of them!) will give you the right estimate, not too low and not too high.

Most of the comparables you see will not be corner lots because the volume of sales on corner lots are limited, hence if you only looked at corner lot sales you would not see much.

I would love the opportunity to help you, my office is located on Avenue R right off Nostrand Avenue and Sheepshead Bay is one of the areas I specialize in. Please call me so we can discuss this further. Thanks and good luck!

Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
0 votes Thank Flag Link Sun Aug 23, 2009
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