Starter Houses on Long Island? (Huntington, Smithtown: bankrupt, quality of life, taxes)

[NYSinger]

Haha, I can't believe I thought NJ ad CT would be any better!

Nope, best hope for us would be to move out of state, WAY out of state!

Good to hear you're happy with your move. All the best!

[forum383]

Long Island has become very expensive and there aren't many starter homes around. I have a situation where I have a wonderful colonial in Kings Park, Long Island (near Ft. Salonga and Smithtown) that I need to sell fast! It is a 2/3 bedroom plus has full separate basement apartment (rental income) to help a new homeowner pay mortgage. There is also a separate expanded garage on the property that is FINISHED 4 rooms, with full bath, kitchen, etc. Great for office, gym, storage or ??? Inground pool and private deck. This is a mini compound that would be great for a large family or a great starter because of the potential income. The market is soft so I am quite flexible. Realtor listed based on value at $459,000. Because I need to sell quickly, they reduced $10,000. I am still willing to negotiate a serious deal for even less than $449,000.... how about first $435,000 gets this beautiful house!! NEXT TWO WEEKS ONLY. If it doesn't sell I will rent for the year and wait till market improves and get my $460,000. The deal is great if you are serious and want a great value!! 516-991-7777

[nbres]

et tu Kings Park?

need to sell fast! It is a 2/3 bedroom plus has full separate basement apartment (rental income) to help a new homeowner pay mortgage.

need I write more.

[4StanleyCups]

It is a 2/3 bedroom plus has full separate basement apartment (rental income) to help a new homeowner pay mortgage.

Is it a legal basement apartment?

Just curious, considering a recent thread or two that dealt with illegal apartments in general, and illegal basement apartments in particular.......

p.s. - Found your listing, and I see the basement has an outside entrance. But that doesn't necessarily make it a legal 2. And does that outbuilding have a C of O? With a lot that small (.17 acre) I'm amazed that you were able to get a permit for a second permanent structure on it.

[clamboy]

Originally Posted by forum383

Long Island has become very expensive and there aren't many starter homes around. I have a situation where I have a wonderful colonial in Kings Park, Long Island (near Ft. Salonga and Smithtown) that I need to sell fast! It is a 2/3 bedroom plus has full separate basement apartment (rental income) to help a new homeowner pay mortgage. There is also a separate expanded garage on the property that is FINISHED 4 rooms, with full bath, kitchen, etc. Great for office, gym, storage or ??? Inground pool and private deck. This is a mini compound that would be great for a large family or a great starter because of the potential income. The market is soft so I am quite flexible. Realtor listed based on value at $459,000. Because I need to sell quickly, they reduced $10,000. I am still willing to negotiate a serious deal for even less than $449,000.... how about first $435,000 gets this beautiful house!! NEXT TWO WEEKS ONLY. If it doesn't sell I will rent for the year and wait till market improves and get my $460,000. The deal is great if you are serious and want a great value!! 516-991-7777

Ouch.... a 2/3 bed in Kings Park for 459k.
Mini compond....sounds like a slumlord dream.


Can ya smell the desperation people?
Im glad im not overextended...I just heard foreclosures in Suffolk are up 60% since last year.

That makes my 3 bed poss M/D in Rocky Point for 339k look like a hell of a bargain.


Theyd run you out of town in CT if you pulled a stunt like this.
When I was looking at houses up there I couldnt find ONE accessory apartment.
The realtor said that people dont do it...they dont need to, and If I did Id be turned in in a CT minute.

Heres everything wrong with LI in one listing.
LI is Effed!


C

[KellyFG]

Originally Posted by forum383

Long Island has become very expensive and there aren't many starter homes around. I have a situation where I have a wonderful colonial in Kings Park, Long Island (near Ft. Salonga and Smithtown) that I need to sell fast! It is a 2/3 bedroom plus has full separate basement apartment (rental income) to help a new homeowner pay mortgage. There is also a separate expanded garage on the property that is FINISHED 4 rooms, with full bath, kitchen, etc. Great for office, gym, storage or ??? Inground pool and private deck. This is a mini compound that would be great for a large family or a great starter because of the potential income. The market is soft so I am quite flexible. Realtor listed based on value at $459,000. Because I need to sell quickly, they reduced $10,000. I am still willing to negotiate a serious deal for even less than $449,000.... how about first $435,000 gets this beautiful house!! NEXT TWO WEEKS ONLY. If it doesn't sell I will rent for the year and wait till market improves and get my $460,000. The deal is great if you are serious and want a great value!! 516-991-7777

This property has been listed on craigslist with a few different prices for at least two months & a story about a daughter that doesn't want it or something. Still no takers.

[bnocher]

The problem is that people are asking way too much. I'm seeing houses sitting on the market for quite sometime. And these people won't budge on their ridiculous price. I'm seeing small capes that are falling apart 3 bedroom with 1 bath 60 by 60 lot in Stony Brook going for $500,000. And whoever buys it needs to put in another $100,000 into it. It's hard to find a good starter home in a nice area. And area is the key. Because if it is a starter home you want to be able to sell it.

[GypsySoul22]

I do wish people luck selling their homes. Sadly it seems the bottom has dropped out.

Though I would LOVE the income from a house sale now, it's great we can move within 2 weeks if we have to.

Near my home, I have seen 2,3,4 houses in a ROW for sale on each block. One section of town they built these massive (nice though) houses on an iffy road. They are just sitting there, gathering dust. Big high ranches MOST people cannot afford that will just gather dust.

I agree a lot of people tried to get greedy in the boom and jack up their homes in hopes of a big score--results--just a bunch of for sale signs in a row.

[TomMoser]

Originally Posted by 4StanleyCups

Is it a legal basement apartment?

Just curious, considering a recent thread or two that dealt with illegal apartments in general, and illegal basement apartments in particular.......

p.s. - Found your listing, and I see the basement has an outside entrance. But that doesn't necessarily make it a legal 2. And does that outbuilding have a C of O? With a lot that small (.17 acre) I'm amazed that you were able to get a permit for a second permanent structure on it.

In general, there is no such thing as a legal basement apartment on Long Island. It can be done, but it is very rare. You must install "egress" windows. These are windows that are large enough for a fire fighter to get through. Secondly, there must be 2 doors to the outside. Even with all this, most towns are hesitant to allow legalization of a basement apartment.

[4StanleyCups]

Originally Posted by TomMoser

Secondly, there must be 2 doors to the outside.

Thanks Tom, I didn't know the requirement was for TWO exit doors rather than just one.

I briefly considered relocating to CT about a year and a half ago but couldn't find any area that fit some of my must-have requirements. CT just wasn't a good "fit" for me on too many counts. One thing I did notice about CT was the preponderance of ranches with "walk-out" basements; in other words the house looked like a ranch from the front, but a high-ranch from the back. I was told by several realtors that they are common in CT and other hilly areas because of the topography. Interestingly, there were very few "true" basements (as we're familiar with here on LI). Many of those walkout-basement houses had apartment setups in the basements, too.

So in the case of a walkout basement/OSE basement, the code is saying that in addition to the door leading directly to the outdoors, there has to be another exit which is through the house itself (up the stairs to the first floor) in order to be considered as a candidate for the house being a legal 2?

I've never seen a true basement with two exits directly to the outside. In a high-ranch, yes (one direct to the backyard and the other out through the front or side-facing garage) but that isn't a basement because the floor is on grade. Never seen a true below-grade basement or semi-basement with TWO direct-to-outside doors.