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Old 02-28-2012, 10:00 AM
 
855 posts, read 753,759 times
Reputation: 407

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Quote:
Originally Posted by paulyc44 View Post
The problem is not isolated to Port Washington. News Flash - this is a nation wide epidemic. It's up to the parents to teach there kids values. "Nothing to do." That's ridiculous. I could think of 1000 productive & creative things to do with my kids no matter what town I live in.
While you are both right the problem is most prominent when your kids go to HS and start hanging out with friends alone without parent supervision. Then the bad eras of many peoples lives occur.
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Old 02-28-2012, 10:40 AM
 
9 posts, read 9,604 times
Reputation: 15
My husband and I are the same age as you and have been looking in PW since 2007. So we have seen the market at its high point and its low point. We just closed on a house last month.

You will not see huge price drops in PW. The only time you will see that is if the house was overpriced (which we have seen, but the overpricing was obvious based on the condition/location of the home).

In desirable areas, you will not see dramatic price drops. So please dont bank on that. The realtors in that area price the house to sell(sometimes ). If the house is in a good location be prepared for a bidding war. We placed a couple of bids prior to this house and were surprised how high or close to asking price the house went for. There are cash buyers around too so they win all the time. When there is a decent house on the market there, in a great location, it goes quick, no matter what time of the year. Trust me. We have been looking since 2007. It took us 5 yrs of saving and looking to finally settle in PW.

Some homes have been slightly updated but you have to be prepared for cosmetic adjustments and anything that you dont know about until the house is yours (i.e whats hiding behind the walls). So you will need to factor that into your budget. We are going through that now. These are all older homes some few new construction but those are out of your price range.

My advice to you, is to revisit your budget and save A LOT. Cut out some costs, even the little ones bc that helps. As other posters have mentioned, $500k won't get you far in the area of PW you like. You need to budget for at least $650k. And you will end up in the park section/terrace section. Partner up with a realtor when you are close to having a down payment ready. Go to open houses now though so you can get an idea of what the houses actually look like inside. Photos on line and real life sometimes differ a lot.

Also, have your finances in order prior to because the banks were a pain in confirming and reconfirming every transaction that went through our accounts. We had a credit score of 800 and a decent down payment. Go figure.

GL on your hunt.
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Old 02-28-2012, 11:30 AM
 
64 posts, read 93,022 times
Reputation: 26
Quote:
Originally Posted by tone21 View Post
My husband and I are the same age as you and have been looking in PW since 2007. So we have seen the market at its high point and its low point. We just closed on a house last month.

You will not see huge price drops in PW. The only time you will see that is if the house was overpriced (which we have seen, but the overpricing was obvious based on the condition/location of the home).

In desirable areas, you will not see dramatic price drops. So please dont bank on that. The realtors in that area price the house to sell(sometimes ). If the house is in a good location be prepared for a bidding war. We placed a couple of bids prior to this house and were surprised how high or close to asking price the house went for. There are cash buyers around too so they win all the time. When there is a decent house on the market there, in a great location, it goes quick, no matter what time of the year. Trust me. We have been looking since 2007. It took us 5 yrs of saving and looking to finally settle in PW.

Some homes have been slightly updated but you have to be prepared for cosmetic adjustments and anything that you dont know about until the house is yours (i.e whats hiding behind the walls). So you will need to factor that into your budget. We are going through that now. These are all older homes some few new construction but those are out of your price range.

My advice to you, is to revisit your budget and save A LOT. Cut out some costs, even the little ones bc that helps. As other posters have mentioned, $500k won't get you far in the area of PW you like. You need to budget for at least $650k. And you will end up in the park section/terrace section. Partner up with a realtor when you are close to having a down payment ready. Go to open houses now though so you can get an idea of what the houses actually look like inside. Photos on line and real life sometimes differ a lot.

Also, have your finances in order prior to because the banks were a pain in confirming and reconfirming every transaction that went through our accounts. We had a credit score of 800 and a decent down payment. Go figure.

GL on your hunt.
Thanks for this. I am starting to think I better just go far east and be miserable commuting 3hrs / day. Glad we worked so hard to attain this.
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Old 02-28-2012, 11:34 AM
 
Location: Glen Head, NY
840 posts, read 1,282,616 times
Reputation: 350
i agree. many school districts have this issue. My kids go to north shore and there is a huge mix socio-economically, everybody from billionaires in Old Brookville to people in rental units.

Quote:
Originally Posted by paulyc44 View Post
The problem is not isolated to Port Washington. News Flash - this is a nation wide epidemic. It's up to the parents to teach there kids values. "Nothing to do." That's ridiculous. I could think of 1000 productive & creative things to do with my kids no matter what town I live in.
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Old 02-28-2012, 03:52 PM
 
7 posts, read 8,277 times
Reputation: 25
Quote:
Originally Posted by paulyc44 View Post
The problem is not isolated to Port Washington. News Flash - this is a nation wide epidemic. It's up to the parents to teach there kids values. "Nothing to do." That's ridiculous. I could think of 1000 productive & creative things to do with my kids no matter what town I live in.
I know the problem is not isolated to PW, all I'm saying is that this problem seems more prevalent in the North Shore of Long Island, which includes PW. When I said there isn't anything to do in PW, I meant that teens don't have a lot of choices of different activities to do with their friends. There are no bowling alleys, or ice skating rinks, or an arcade, etc...There is a world of a difference between what an 8 year old can do with his parents and what a 17 year old chooses to do with his parents/friends.
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Old 02-29-2012, 12:43 PM
 
Location: Glen Head, NY
840 posts, read 1,282,616 times
Reputation: 350
there are both skating rinks and bowling alleys reasonably nearby
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Old 02-29-2012, 03:33 PM
 
Location: New York, NY
44 posts, read 159,555 times
Reputation: 25
2bdrm in Manhattan for $2400 a month? Keep it!!

My mortgage and taxes are more than that a month, for a house that cost way less than what you are looking for. Then there's the yard maintenance, utilities (oil is nearly double this year, even with the warm winter), furnishing your house, higher commute costs (assuming you'll both be working in the city still), less time at home, plus all the little surprises you'll inevitably have.. plumbing needs to be fixed, floor needs to be replaced, roof sometime down the line... All part of homeownership.

Just trying to paint a realistic picture. My husband and I moved to the city (a 1 bdrm, nonetheless) when our child was 6 months old and lived there two years before buying a house. We moved to the city from Port Washington so we could be home more with our daughter. In the city, I was home from work in 15 minutes! After work, we went straight to one of a few parks by us. Weekends were carefree then. Now, we are schlepping to Lowes, replacing or repainting, maintaining the yard. Its fun for a while, then it's just taxing. We bought a house because we were outgrowing our 1bdrm and a 2 bdrm was out of our budget. Although, with what we spend on the house with mortgage, maintenance and updating, it's probably pretty equal. We dreamed of homeownership too but if I had your rent and a 2bdrm, we would've stayed longer.

Also, honestly, I would give yourself a couple more years. Build up that savings account, then revisit. Babies don't need much room at this age and you have a cities' worth of stuff to do at your fingertips.
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Old 03-01-2012, 03:20 PM
 
Location: Long Island/Suburban Buffalo
1,114 posts, read 1,360,005 times
Reputation: 952
I've lived in Port for 12 years and my wife all her life (38 years). I can tell you that the class differences in this town are an issue. A lot of middle income people like ourselves feel like they are being forced out, as the area seems to be ever gentrifying. Everything from the restaurants, nearby shopping, activities for children, etc seem more and more geared to the upper middle class and above. I have to drive 30 minutes to Broadway Mall or the Westbury/Garden City East area to do most of our shopping because there isn't many places on Northern Blvd for a middle income person to shop at.

My wife grew up constantly harassed by the wealthier kids because she didn't have the expensive clothes and cars that the other kids had. Even though my kids are very young, we can already feel those class differences becoming a problem. I don't my kids to suffer my wife's fate.

Port is a nice place, but it isn't the best place for middle income people (75-150K) even if you can afford the cheaper parts of Port (which are increasingly being populated by Hispanic immigrants). We are planning to move upstate next year where middle income people like ouselves can be amongst our own kind.
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Old 03-01-2012, 03:28 PM
 
Location: Long Island/Suburban Buffalo
1,114 posts, read 1,360,005 times
Reputation: 952
Quote:
Originally Posted by paulyc44 View Post
Alright! So!

Here's the deal...

I have long defended reasons for not buying a home, including on these forums several years ago and now I am singing a different tune.

Things are much different. There are 3 of us now, not just two. My wife and I are 34 and our little special guy is 7 months. We live in a 2 bedroom rental in Manhattan and pay $2,400 / month. We've been paying rent for close to 8 years and it's been just right for us both. But now...

It's time. Time to settle down and grow into a home. Our careers are well established, salaries healthy, and family growing so it just seems right for what we want and need.

The way I see it / way it is now...

1.) Combined income is $220K/year
2.) CC debt = 0 by 2013
3.) Cash in the bank = nada (working on it)
4.) Home prices still falling. Perfect time to bite come September 2013
when our lease is up.
5.) Staying put. No major relocation
6.) Want a place for my kids to call home and grow up in house like I did.
7.) Done with strangers living on the other side of all 4 walls.
8.) Done making my landlord rich to live in a shoe box with bad plumbing
and steam heat that sounds like a 747. No thermostats either.
9.) Outlived - "NYC is so cool!"
10.) Ignoring the times.

It is time! The time is now! Not solely because of the market. Not because it's a good investment! Not because it's the thing to do. Because it is right for us. Done.

Where have we always dreamed of living? Port Washington. Know nothing about the area, but love the feel. Love that the LIRR skips Jamaica. Love the feel. Love that my kids will get a good education. Property taxes, I know I know. So what? Not deterring me. Did I say I love the feel? I do and it's where we want to go.

I do NOT want to live on the south shore. Grew up there and I don't want to feel like I am returning home. We want the windy roads, hills, hamlets, trees, harbor, chill feel of Port Washington and that's where we plan to go.

So I need your help! Where the heck do I start? How do I get to know the lay of the land? What are your suggestions if I were to drive around out there this weekend...?

My price point? $500K. 3 bedrooms 1 1/2 bath. Preferably not a house on top of another house (and please don't say I can't get that for 1/2 mil.)

Talk to me!
You seem like the type of person that will fit in well here.
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Old 03-01-2012, 03:39 PM
 
64 posts, read 93,022 times
Reputation: 26
Hmmmm I detect a hint of sarcasm. Maybe I'm wrong - dunno. Anyway, my Port Wash dreams have been squandered. Doesn't seem like we'll be able to afford something decent even with a combined income for $220K. What a shame. Looks like I would need to spend $650K to get something decent. For what? A better commute, some trees and hills? Forget it. Even if I wanted to I couldn't Need to make at least $300K for that. A real damn shame.
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