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Old 11-03-2011, 04:09 PM
 
Location: Long Island
9,038 posts, read 18,387,169 times
Reputation: 4745

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Quote:
Originally Posted by Logical95 View Post
For that house, and all the work and updates that it seems needs to be put into it, plus the shared driveway, not to mention the lack of property, I wouldn't pay more than 250K for that house....

Real estate is so overpriced on LI it's sickening.....and you wonder why all the young 20 and 30 somethings are leaving....

Btw, what are the taxes on that house? Probably around 10K I'm assuming....
Unless you're willing to spend lots of money, you're not going to get a lot of property in Nassau County!

Plenty of young people still here.

True Town taxes are $6,187 plus Village taxes of $1,311 = $7,498 total True taxes (without STAR)
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Old 11-03-2011, 04:38 PM
 
332 posts, read 711,403 times
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Quote:
Originally Posted by Elke Mariotti View Post
Unless you're willing to spend lots of money, you're not going to get a lot of property in Nassau County!

Plenty of young people still here.

True Town taxes are $6,187 plus Village taxes of $1,311 = $7,498 total True taxes (without STAR)


There may be young people here but they sure as heck aren't buying 400K+ houses.....

Most of them are in apts.....
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Old 11-03-2011, 05:03 PM
GPC
 
1,197 posts, read 2,717,858 times
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Quote:
Originally Posted by Logical95 View Post
Btw, what are the taxes on that house? Probably around 10K I'm assuming....
I believe taxes in Mineola are a bit 'cheaper' due to the hospital and 'business presence' in the area. If anyone knows better than me, feel free to correct me but that's what I've heard over the years.
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Old 11-03-2011, 05:27 PM
 
Location: Former LI'er Now a Rehoboth Beach Bunny
7,252 posts, read 9,624,004 times
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Quote:
Originally Posted by Elke Mariotti View Post
Contrary to general opinion, one large price drop is much more effective than several smaller ones. You DO want to attract attention, not have potential buyers say, "oh, another little price adjustment on an overpriced house"; people start to ignore it after a while.

And you should definitely find an agent who can count (and knows how to market properly). Five rooms when it's seven--that hurts as much as the price.

I am a hobbyist in RE not a pro and admit it, but if I saw a house that had a drop of 60-70 k or more I would be afraid of it and not bother to look a the house. I would feel better with a 30k drop to start to bring it in line with reality.
But that is just me.
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Old 11-03-2011, 05:35 PM
 
7,574 posts, read 8,000,657 times
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1. This house is located in central Nassau, not central Suffolk. Homes are more expensive there.

2. Cute vegetable garden. The backyard looked well-maintained

3. Usually, the homes of senior citizens are neat, even if they are outdated. A cluttered house with fingerprints and crayon drawings all over the walls, glitter all over the carpet, tricycles and toys all over the house and garage does not make a good impression. It's hard to keep your house super neat for weekend showings every week when you have little kids.

4. The refrigerator could be a spare freezer or fridge kept in the basement.

5. The photos are mostly of the modern finished basement. I'd like to see pictures of the other bedrooms. I'm guessing the first floor master is small. I'd also like to see pictures of both bathrooms. There is no photo of a tub or shower. How do we know if the bathroom only has a stall shower or the condition of the tub? It could be that only the sink was replaced and everything else is original.

6. This is a really small house, even by cape standards. Price needs to be lowered.
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Old 11-03-2011, 07:38 PM
 
Location: Where my bills arrive
7,182 posts, read 8,780,771 times
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Quote:
Originally Posted by Elke Mariotti View Post
1) what's wrong with it being a Senior Citizen? (although it often means it needs updating) As was previously talked about, the storm door is "decorative", not "iron bars" - that's not the front door but the storm door. If you're worried about crime, you'd have bars over the windows and the door!

2) not that easy to take photos of a room and make it "meaningful", especially if the rooms are smaller

3) Looks to me as though that fridge is in the basement, probably an extra one--not uncommon
Nothing wrong with seniors, but when a neighborhood here has a lot of iron on storm doors it either means seniors or most likely crime issues.

The rooms appear to have nice features such as niche's/archs but it is lost with the decore.

The fridge may be the basement but to me it appeared to be sitting in the dining room.

Obviously any serious buyer would go by and look to decide for themselves.
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Old 11-03-2011, 07:57 PM
 
Location: Long Island
9,038 posts, read 18,387,169 times
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Quote:
Originally Posted by nuts2uiam View Post
I am a hobbyist in RE not a pro and admit it, but if I saw a house that had a drop of 60-70 k or more I would be afraid of it and not bother to look a the house. I would feel better with a 30k drop to start to bring it in line with reality.
But that is just me.
If the house had a drop of $60K, then buyers looking in THE LOWER price range would pay attention.

Example:
Buyers who look to spend $450K and see a house in that range grossly overpriced, will stop looking at it. Buyers able to afford $390K or less will now start looking and will take the listing (more) seriously.
Bottom line: we're not looking at the same buyers anymore (in many instances); the goal is to sell the house, not to make lookers feel better with small and frequent price drops
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Old 11-04-2011, 08:56 AM
 
Location: Dead end - Long Island,
999 posts, read 1,964,107 times
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Quote:
Originally Posted by nuts2uiam View Post
I am a hobbyist in RE not a pro and admit it, but if I saw a house that had a drop of 60-70 k or more I would be afraid of it and not bother to look a the house. I would feel better with a 30k drop to start to bring it in line with reality.
But that is just me.



60k off on a house priced at 450k and is only 1000 sq ft...

You think thats a bad drop... At 350k for 1000sq ft that is still insanely high....

Who is going to live in 1000sq ft, a small family ? They might as well rent my garage.



If you wanted to build a new house that is 1000 sq ft it would cost you.... say 90,000 for a nice house that size, maybe 105k if you got fancy...

So add in the value to that lot, and how the hell do you come up with 350k, let alone 450k for old
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Old 11-04-2011, 09:03 AM
 
Location: Long Island
9,038 posts, read 18,387,169 times
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Quote:
Originally Posted by LIMA View Post


If you wanted to build a new house that is 1000 sq ft it would cost you.... say 90,000 for a nice house that size, maybe 105k if you got fancy...
Have you talked to a builder lately??
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Old 11-04-2011, 12:56 PM
 
1,350 posts, read 4,371,314 times
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Quote:
Originally Posted by LIMA View Post
60k off on a house priced at 450k and is only 1000 sq ft...

You think thats a bad drop... At 350k for 1000sq ft that is still insanely high....

Who is going to live in 1000sq ft, a small family ? They might as well rent my garage.



If you wanted to build a new house that is 1000 sq ft it would cost you.... say 90,000 for a nice house that size, maybe 105k if you got fancy...

So add in the value to that lot, and how the hell do you come up with 350k, let alone 450k for old

are you on long island? none of what you're saying checks out.

1) you can't build a house on long island for 100K. it isn't happening. for 1, $100 a sqft might be a "nnormal" price in PA, for a 2500 sqft house, but kitchens bathrooms and general "systems" cost money, from electirical, heat, plumbing etc.

2) how much do you think the land is worth? in my town, Wantagh, the number is somewhere between $250K-300K for a knockdown, and sometimes higher.

3) there are plenty of houses all over LI that are between 800-1200 sqft. shockingly in previuously generations people had families living in them. I think its a little small, but I've owned two over the past 10 years in the 1000-1200 range, the second one we expanded, but plenty of people live in these small garages.

"You think thats a bad drop... At 350k for 1000sq ft that is still insanely high...." welcome to LI
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