Starter Houses on Long Island? (Hempstead, Islip: property taxes, budget, incomes)

[smjm1982]

Originally Posted by TristansMommy

That sounds great.. but I doubt it will happen and quite honestly if it does it cuold be a diasaster. A lot of people will be upside down .. I'm already at 100% LTV because of the drop of what i could get on the market for my home. Besides, it won't happen. As it is hte median price in Nassau is UP from last year. Sellers are taking less than they would have 2 years ago.. BUT.. the ones that aren't as serious or need to sell are holding on to their prices. If they bought their house within the boom.. they can't come down and won't. They'll just wait it out and as things level off they will rise again.

The truth.. home prices have been milked for years but especially over the last 10 years.. in 1980, a 1 1/2 story cape in Levittown went for about $100,000, the same house in 1995 (15 years later) went up only by about 50,000 (50%) but incomes also rose to about 50% over that time, jobs were generous but now technology has eliminated both the jobs and the amount of people needed to do them. From 1995 to now, most people I knew who maintained their jobs within or not within my company willingly accepted between a 1-3% increase in pay per year while others lost their jobs and had to settle for lower income jobs.

Anyway, back in 1995 I saw the same 1 1/2 story cape I mentioned in Levittown for $150,000. While my job has some highly reliant OT and some additional chance OT, without the OT I, then, grossed about $65,000/yr. Today, just over 10 years later, that same 1 1/2 bedroom cape in Levittown is $450,000 and my gross income now is about $77,000. My salary went up about 15% but home prices went up about 200%. If other's face the same kind of scenario that I have, there is certainly no surprise that we have the economical problems we have today.

[TristansMommy]

Originally Posted by smjm1982

The truth.. home prices have been milked for years but especially over the last 10 years.. in 1980, a 1 1/2 story cape in Levittown went for about $100,000, the same house in 1995 (15 years later) went up only by about 50,000 (50%) but incomes also rose to about 50% over that time, jobs were generous but now technology has eliminated both the jobs and the amount of people needed to do them. From 1995 to now, most people I knew who maintained their jobs within or not within my company willingly accepted between a 1-3% increase in pay per year while others lost their jobs and had to settle for lower income jobs.

Anyway, back in 1995 I saw the same 1 1/2 story cape I mentioned in Levittown for $150,000. While my job has some highly reliant OT and some additional chance OT, without the OT I, then, grossed about $65,000/yr. Today, just over 10 years later, that same 1 1/2 bedroom cape in Levittown is $450,000 and my gross income now is about $77,000. My salary went up about 15% but home prices went up about 200%. If other's face the same kind of scenario that I have, there is certainly no surprise that we have the economical problems we have today.

I agree.. and that's why I want to get out of LI as soon as possible, even though I was born and raised here. It's too difficult tomake it here.. I started a thread about this and have been on other threads about the topic.

[clamboy]

Originally Posted by smjm1982

The truth.. home prices have been milked for years but especially over the last 10 years.. in 1980, a 1 1/2 story cape in Levittown went for about $100,000, the same house in 1995 (15 years later) went up only by about 50,000 (50%) but incomes also rose to about 50% over that time, jobs were generous but now technology has eliminated both the jobs and the amount of people needed to do them. From 1995 to now, most people I knew who maintained their jobs within or not within my company willingly accepted between a 1-3% increase in pay per year while others lost their jobs and had to settle for lower income jobs.

Anyway, back in 1995 I saw the same 1 1/2 story cape I mentioned in Levittown for $150,000. While my job has some highly reliant OT and some additional chance OT, without the OT I, then, grossed about $65,000/yr. Today, just over 10 years later, that same 1 1/2 bedroom cape in Levittown is $450,000 and my gross income now is about $77,000. My salary went up about 15% but home prices went up about 200%. If other's face the same kind of scenario that I have, there is certainly no surprise that we have the economical problems we have today.

My argument exactly....Everythings up threefold but wages

Wheres the Jobs Tom Suozzi

We cant all be cops.

C

[Redd Jedd]

Originally Posted by smjm1982

The truth.. home prices have been milked for years but especially over the last 10 years.. in 1980, a 1 1/2 story cape in Levittown went for about $100,000, the same house in 1995 (15 years later) went up only by about 50,000 (50%) but incomes also rose to about 50% over that time, jobs were generous but now technology has eliminated both the jobs and the amount of people needed to do them. From 1995 to now, most people I knew who maintained their jobs within or not within my company willingly accepted between a 1-3% increase in pay per year while others lost their jobs and had to settle for lower income jobs.

Anyway, back in 1995 I saw the same 1 1/2 story cape I mentioned in Levittown for $150,000. While my job has some highly reliant OT and some additional chance OT, without the OT I, then, grossed about $65,000/yr. Today, just over 10 years later, that same 1 1/2 bedroom cape in Levittown is $450,000 and my gross income now is about $77,000. My salary went up about 15% but home prices went up about 200%. If other's face the same kind of scenario that I have, there is certainly no surprise that we have the economical problems we have today.

All good points. You mention an important point I rarely see addressed - gross income. Many people talk about what they make in a year, but I bet most don’t know what they actually take home in a year. I know for me, once I’m done with taking out taxes, SS, paying for benefits and retirement, take home is about 25% less than gross. NOW you can start deducting other expenses. This is where I started the analysis of my situation. Then I saw that my biggest expense, property taxes, were not 7% of my salary, but 11%. To me, the cost/benefit for the high amount of taxes in Nassau county was not worth it.

[Steve Ramirez]

Long Island is beautiful. You can find some great starter homes in Freeport, Baldwin Hempstead, Uniondale, Roosevelt, East Meadow, Levitown, Amityville, Brentwood, Bayshore, Central Islip, Wyandach, Lindenhurst, Huntington, Babyon, and many more towns. It all depends on your budget, your preferences, and what you are looking for in a home. Best of luck to you in searching your home. I recommend finding a good realtor to assist you in the process. I am a realtor and I can tell you that working with a good realtor which represents your best interest can make your search easier, and more enjoyable.

[clamboy]

Originally Posted by Steve Ramirez

Long Island is beautiful. You can find some great starter homes in Freeport, Baldwin Hempstead, Uniondale, Roosevelt, East Meadow, Levitown, Amityville, Brentwood, Bayshore, Central Islip, Wyandach, Lindenhurst, Huntington, Babyon, and many more towns. It all depends on your budget, your preferences, and what you are looking for in a home. Best of luck to you in searching your home. I recommend finding a good realtor to assist you in the process. I am a realtor and I can tell you that working with a good realtor which represents your best interest can make your search easier, and more enjoyable.

Best bang for the buck
RPNY
11778
C

[Jdawg8181]

Originally Posted by NYSinger

Hi All!

Are there any reasonably-priced starter houses in safe neighborhoods of Suffolk County left??

Really, the housing is insane!!!

NYSinger

reasonable! hah! good luck to you. You wont find too many of those here.

[KellyFG]

Originally Posted by Steve Ramirez

Long Island is beautiful. You can find some great starter homes in Freeport, Baldwin Hempstead, Uniondale, Roosevelt, East Meadow, Levitown, Amityville, Brentwood, Bayshore, Central Islip, Wyandach, Lindenhurst, Huntington, Babyon, and many more towns. It all depends on your budget, your preferences, and what you are looking for in a home. Best of luck to you in searching your home. I recommend finding a good realtor to assist you in the process. I am a realtor and I can tell you that working with a good realtor which represents your best interest can make your search easier, and more enjoyable.

are you kidding Steve???? Would you really feel good about selling a home in Roosevelt or Crime(wyn)danch to a young family????? Some of the places on your list are not only undesirable but they are downright dangerous to anyone other than the illegal aliens that have taken them over. And then you've overlooked many much safer, AMERICAN family-oriented towns. It makes me scratch my head.

[NYSinger]

I know, Jdaw! And even though some prices are decreasing, the taxes are not!! So I am definitely not planning on buying here.

[John9l0]

Originally Posted by KellyFG

are you kidding Steve???? Would you really feel good about selling a home in Roosevelt or Crime(wyn)danch to a young family????? Some of the places on your list are not only undesirable but they are downright dangerous to anyone other than the illegal aliens that have taken them over. And then you've overlooked many much safer, AMERICAN family-oriented towns. It makes me scratch my head.

Those neighborhoods aren't the death traps everyone makes them out to be. They definitely aren't "downright dangerous", nowhere on Long Island is.