Searching for homes in LI (Massapequa, Hyde Park: house, deal, distance)

[jack_2014]

Is it advisable to buy 50+ year old houses?

[ovi8]

Most homes on LI are 50+ years old. Some have gone through renovations of course, but most were built then as they razed the forest here. They can be perfectly fine as we've now lived in 2 of them and renovated this one. Nothing was really fundamentally wrong with it, save for lack of insulation in some. People will even say "they don't build them like they used to".

[pidge1114]

Originally Posted by jack_2014

Is it advisable to buy 50+ year old houses?

How old are you? You really sound like a kid with the questions you're asking. And if you're not, that's even worse.

[jack_2014]

pidge1114, how old are you? You are worse than a kid

[MrBitterness]

Originally Posted by jack_2014

pidge1114, how old are you? You are worse than a kid

Pidge is 35 but parties like a 19 year old. He even brought a flamethrower to our meetup last month. It was awesome.

[pidge1114]

Originally Posted by MrBitterness

Pidge is 35 but parties like a 19 year old. He even brought a flamethrower to our meetup last month. It was awesome.

I'm 39 actually but yes that flamethrower was sweet. I modified it to zero in on forum idiots and I actually ran out of gas.

[Omar_Comin_Yo]

Originally Posted by jack_2014

I am looking for single family home. My budget is 550k. I am looking for safe area + good school. I can do taxes around 10k- 12k. Looking for 3 Bedroom + 2 bath. Do not prefer near South Shore.

Which area are good near the NYC? Any ideas abt Port Washington, Glen Cove, Melville, Huntington Station and Plainview? Any other areas ? Let me know.

I would stick to northwestern Nassau County.

Garden City, Carle Place, Mineola, and Roslyn might be a good options.

[Gunty]

Check out Massapequa.

[manekeniko]

Originally Posted by jack_2014

Yes I need good school. I do not prefer south shore because it can get flooded as they did during sandy.

You really need to become more knowledgeable about the SS before eliminating thousands of homes that may suit your needs.

For example, it would be smart to check the FEMA updated maps which will show you flood zones in detail. Some areas such as mine (Valley Stream) were technically located in a flood zone, even though this area never ever floods. When Sandy hit, this area did not have a drop of flood water in the street. In response to this and community action, my area in Valley Stream was removed from the flood map and was rezoned to low risk Zone X. As a rule of thumb, areas close to and north of Sunrise are generally safe. My Zone X house is about 6 blocks south of Sunrise.

You will find a few areas of the North Shore located in flood zones also, so perform your due diligence and learn more about Long Island.

[SandyJet]

Originally Posted by manekeniko

You really need to become more knowledgeable about the SS before eliminating thousands of homes that may suit your needs.

For example, it would be smart to check the FEMA updated maps which will show you flood zones in detail. Some areas such as mine (Valley Stream) were technically located in a flood zone, even though this area never ever floods. When Sandy hit, this area did not have a drop of flood water in the street. In response to this and community action, my area in Valley Stream was removed from the flood map and was rezoned to low risk Zone X. As a rule of thumb, areas close to and north of Sunrise are generally safe. My Zone X house is about 6 blocks south of Sunrise.

You will find a few areas of the North Shore located in flood zones also, so perform your due diligence and learn more about Long Island.

Also you will find homes that were renovated in the south shore on FEMA's/Flood Insurance/NY Rising's dime. Home

Sellers in generally are a stupid lot of people.

I say that cause I have seen homes with 125K in renovations due to Sandy all paid for with zero mark up in value. Meanwhile North of Sunrise I see homes with 125K worth of renovations and owner wants 200K more like it is a HGTV flip special. Also Homes in great areas with no flood insurance required, think Garden City, RVC, Manhasset etc. starting 10-1-2014 when school taxes come out and also on 1-1-2015 when new assessed values come out folks may be very suprised at the shift in property taxes.

Remember, the budget is set and the tax amount needed for 2015 schools taxes, Nassau and TOH, TOB taxes etc is set in stone.

What is not set in stone is assessed values. For instance RVC has village taxes plus Town of Hempstead Taxes and Nassau County taxes. But east rockaway, oceanside, island park, long beach, baldwin etc all in TOH have homes that got very large assessed value decreases.

Meanwhile RVC with great schools, great train line, no flooding, yuppie town of professionals in other words a great place to live. It has been seeing property values rise quickly. Whole article in paper recently about homes selling in a few days in RVC.

Sounds great. Till you realize taxes are very high and headed straight up as assessed values are rising and grieving taxes will be very very hard when you are buying homes way above assessed value and all comps are higher than your assessed value. Plus grievance process can take 2-4 years to kick in.


What does that mean? Taxes will eventually put the brakes on the RVC and GC home prices. Plus towns with homes selling for one million are very interest rate sensative when rates rise.Towns with starter homes and coops not so much. Rates going from 4.25 to 6.25 are not a big deal for a 250K home with 20% down. But a one million dollar home with 20% down is a 800K mortgage. It is a big thing. That combined with high taxes will end those high priced home sales.

My taxes in 1999 was $5,900 a year. My taxes in 2015 are scheduled to be less than $5,900 a year.

Taxes on average homes in RVC pre-county wide reassessment were even cheaper. I saw plenty of 5k taxes on older homes in RVC when house hunting in 1999. Today I see tons of if you count RVC tax plenty of 30K property tax houses in RVC and nothing special.

Southshore is still very depressed. Will be for quite awhile. But if no more floods next three to four years and no huge flood insurnace increases once homes are all rebuild and FEMA iniatives for better storm drainage and flood mitigation on town level in place I think people will once again want to live south of merrick over north of merrick. Cause it is the property taxes combined with folks short memory of Sandy that will do it.

I love RVC and GC to death and can afford a one million dollar home. The taxes are the killer to me.