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Old 07-24-2010, 11:23 PM
 
Location: Huntington, NY
7,743 posts, read 10,861,760 times
Reputation: 3485

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Quote:
Originally Posted by PPL View Post
check this out:

For Sale (MLS-listed)
$4,688,000
5 Lake Rd Great Neck, NY 11020
Jul 21, 2010 Listed $4,688,000 -- MLSLI #2312338 **duplication of #2312316 - apparently erroneous dual entry
Jul 21, 2010 Listed $4,688,000 -- MLSLI #2312316 **
Apr 11, 2006 Sold (Public Records) $2,020,000 -- Public Records

You piqued my curiosity, so I did a little research.
In 2005, it was listed "as is" originally for $3,500,000, then reduced to $3,250,000 and expired in Oct. of 2005 at $2,980,000.
November 2005 it was relisted at $2,750,000, reduced to $2,595,000 and subsequently sold for $2,020,000. Each time, a different agent was hired.

The current owners completely rebuilt it (since it was offered "as is" it obviously needed it), so the increase in asking price seems to reflect more than greed because of significant improvements. It's right on Lake Success and spectacular waterfront homes usually sell at a premium--this one is in the heart of Nassau, so a premium would be justified.

Is the house worth it? I have no idea since I haven't seen it (yet), just wanted to add a little more info. Plenty of homes (low end through high end) are still overpriced; don't know if this is one of them.
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Old 07-25-2010, 11:41 AM
 
1,840 posts, read 1,463,155 times
Reputation: 657
Quote:
Originally Posted by Elke Mariotti View Post
You piqued my curiosity, so I did a little research.
In 2005, it was listed "as is" originally for $3,500,000, then reduced to $3,250,000 and expired in Oct. of 2005 at $2,980,000.
November 2005 it was relisted at $2,750,000, reduced to $2,595,000 and subsequently sold for $2,020,000. Each time, a different agent was hired.

The current owners completely rebuilt it (since it was offered "as is" it obviously needed it), so the increase in asking price seems to reflect more than greed because of significant improvements. It's right on Lake Success and spectacular waterfront homes usually sell at a premium--this one is in the heart of Nassau, so a premium would be justified.

Is the house worth it? I have no idea since I haven't seen it (yet), just wanted to add a little more info. Plenty of homes (low end through high end) are still overpriced; don't know if this is one of them.
2 million in improvements? Better come gilded in gold, filled with hooker and blow.
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Old 07-25-2010, 11:54 AM
 
Location: Little Babylon
3,564 posts, read 4,541,106 times
Reputation: 1170
so a premium would be justified (This is not aimed at Elke)

It's only justified if someone is willing to pay it, and that's something home sellers anywhere have to understand.
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Old 07-25-2010, 08:34 PM
PPL
 
94 posts, read 61,833 times
Reputation: 67
Quote:
Originally Posted by Elke Mariotti View Post
You piqued my curiosity, so I did a little research.
In 2005, it was listed "as is" originally for $3,500,000, then reduced to $3,250,000 and expired in Oct. of 2005 at $2,980,000.
November 2005 it was relisted at $2,750,000, reduced to $2,595,000 and subsequently sold for $2,020,000. Each time, a different agent was hired.

The current owners completely rebuilt it (since it was offered "as is" it obviously needed it), so the increase in asking price seems to reflect more than greed because of significant improvements. It's right on Lake Success and spectacular waterfront homes usually sell at a premium--this one is in the heart of Nassau, so a premium would be justified.

Is the house worth it? I have no idea since I haven't seen it (yet), just wanted to add a little more info. Plenty of homes (low end through high end) are still overpriced; don't know if this is one of them.
org owner, $3.5 -> $2.02 57% of org. asking price.
curr owner, $4.68 * 57% = 2.6?
is that how the current owne trying to play? i am sure he's ruinning the statistic for lake success!
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Old 07-26-2010, 11:14 AM
 
Location: under the beautiful Carolina blue
9,123 posts, read 10,680,302 times
Reputation: 5106
Quote:
Originally Posted by I_Love_LI_but View Post
Say you were in the same situation today (first time buyer renting while saving) and wanted to buy your house. Would it have only taken 2 years to save for the downpayment considering prices today?



That is the big problem here. I totally agree with you. I remember another post you made about how you were moving because you didn't want to continue to put five figures of your cash into the greedy union pockets each year instead of into the bank for yourself and you are right on target! These days nobody is getting raises "just for showing up" anymore ... except certain public employees and it all comes out of the taxpayers' pockets. The only hope is if whoever becomes governor actually DOES SOMETHING about the property taxes. If not, forget it. Even me, the "die hard LI'er" will be out of here too eventually.
No way. Not for the same house at today's prices. Not with 3 kids and all the attendant expenses.

We closed on our house last week, BTW!
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Old 07-26-2010, 11:22 AM
 
959 posts, read 1,405,757 times
Reputation: 345
Twingles,

Wow..you really are going. I didn't realize it was so soon! You already found a place down there?
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Old 07-26-2010, 11:25 AM
 
Location: under the beautiful Carolina blue
9,123 posts, read 10,680,302 times
Reputation: 5106
Yes...but we are in a hotel in NC right now. We close on that house first week of August! Dare I mention the $3000 a year property tax bill?!
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Old 07-26-2010, 11:28 AM
 
959 posts, read 1,405,757 times
Reputation: 345
Twingles,

Wow...that was quick. Just when I was going to recruit you for our GC fight against the FAA

I'm very happy for you. I'm sure you did well on your sale given the years you've been in the village. It's sad to see good people go, but everyone has to make the decisions that they feel are best for them and their families.

Let me guess...bigger house...more updates...and taxes that are 1/4 of GC. Can't complain there. But, where are you going to get great pizza and bagels?
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Old 07-26-2010, 11:37 AM
 
Location: under the beautiful Carolina blue
9,123 posts, read 10,680,302 times
Reputation: 5106
Quote:
Originally Posted by azzurrony View Post
Twingles,

Wow...that was quick. Just when I was going to recruit you for our GC fight against the FAA

I'm very happy for you. I'm sure you did well on your sale given the years you've been in the village. It's sad to see good people go, but everyone has to make the decisions that they feel are best for them and their families.

Let me guess...bigger house...more updates...and taxes that are 1/4 of GC. Can't complain there. But, where are you going to get great pizza and bagels?
Can you believe I am even closer to the airport down here and have yet to see or even hear a plane?!

We were happy with the sale, like you said we've been there 13 years so it worked out well. We sold the house in 2 weeks also

Slightly bigger house, our old house was all updated so this is a lateral move in that respect, taxes are $3000 a year. Great schools around the corner from the house. Everything is new and clean, even my kids notice.

Good pizza nearby (the guy is from Massapequa, natch) and for bagels, I think Bruegger's are as good as anything you can get on LI nowadays...it's been many years since I've understood the whole "bagel thing" as it's been that long since I've had a really good one on LI!
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Old 07-26-2010, 11:40 AM
 
959 posts, read 1,405,757 times
Reputation: 345
That 4.6 million house in Lake Success has to be one of the biggest jokes I've ever seen. 29k a yr in taxes???

That home is an architectural disaster...a nightmare. It looks like a mobile home with a couple dormers on each end. How fugly...

Those sellers should really be embarassed.
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