Location, Location, Location ??? (Cold Spring Harbor, Nassau, Cold Spring: fit in, sale, mortgage)

[GigiBowman]

Originally Posted by Elke Mariotti

Another issue of course is the large inventory--lots of houses to chose from!
And more buyers looking for the most motivated sellers=willing to take a much lower price...

That is the problem Elke and depending on the price range, as a RE agent, buyers can have us looking at upwards of 100 houses in any given town. It can be quite exhausting and the price of gas doesn't seem to be stopping anyone.

[Elke Mariotti]

Don't I know it!!
And then there are the people who complain about our "high" commissions and how little we do to get "so much money"... We're working much harder for a lot less money

Originally Posted by GigiBowman

That is the problem Elke and depending on the price range, as a RE agent, buyers can have us looking at upwards of 100 houses in any given town. It can be quite exhausting and the price of gas doesn't seem to be stopping anyone.

[UpsonDowns]

Originally Posted by rusty78

Unfortunately...todays market is a buyer's market and those that have the funds to buy are not willing to pay what the house is worth...instead...they make lowball offers hoping the seller is desparate enough to take it and or counter...other buyer's are out there...who don't have the down payment...or don't make enough to purchase a home...so they shop and make offers...hoping once again that the seller will take their offer...and as far as easy credit...those days are over for now...for it appears that all those teaser adjustible low rate mortgages are gone forever......

A house is only worth what someone is willing to pay for it. If no one is willing to pay the price - it is not worth it. It's basic supply and demand.

[okaydorothy]

I have said it before, Buyers want low prices, in the best school district, with the most updates ; stainless, granite etc, low taxes, safe areas.

Basically buyers want it all perfect and they are not willing to pay for anything not perfect.

Sellers; now they want the highest price at the least amount of work. And who can blame them.

if you are a buyer ; I would buy now. I wouldnt wait until the prices start rising ; then the bottom is gone.

If you are a seller ; I would wait if you can afford.

d

[rusty78]

Originally Posted by UpsonDowns

A house is only worth what someone is willing to pay for it. If no one is willing to pay the price - it is not worth it. It's basic supply and demand.

I forgot that simple phrase...but it basically sums up the entire question...

[YankeeOnTheMove21]

Thanks for all the great responses to my original post:

To address a few of the questions:
The house has tons of curb appeal. We re-did the front of the house only a few years ago. Big front porch, columns, stone & cedar shingles. The house still looks great. The house itself is in great condition, move in condition. House was recently painted. Rooms are large and open. Lots of living space. The kitchen would need to be re-done, however that allows a buyer to put their own touches into the house. The kitchen is “ready to customize”. The lay out of the kitchen is good and its a real good size with windows over looking the 2 plus acres with pool & waterfall.

The location of the house is on the North Shore of Long Island in a very sought after blue ribbon school district.

I agree with everyone’s comments, the junk is being sold by people who just want out and the people who have a nice home, in a nice area, with good schools,are trying to hold their ground. We are not ready to just dump the home. Some people need to just sell due to financial situations, relocation or many other issues, but our family does not. We have lowered our price in hopes to attract more buyers and with lowering the price, the lowball offers are just getting lower and lower creating more frustration!
The buyers out there are all hoping that us sellers reach our breaking points. So now that you have more information on our home does anyone have any other suggestions. Just looking for a fair price so we can move closer to our family.
Thanks again for your help & suggestions.

[max7418]

Originally Posted by YankeeOnTheMove21

Thanks for all the great responses to my original post:

To address a few of the questions:
The house has tons of curb appeal. We re-did the front of the house only a few years ago. Big front porch, columns, stone & cedar shingles. The house still looks great. The house itself is in great condition, move in condition. House was recently painted. Rooms are large and open. Lots of living space. The kitchen would need to be re-done, however that allows a buyer to put their own touches into the house. The kitchen is “ready to customize”. The lay out of the kitchen is good and its a real good size with windows over looking the 2 plus acres with pool & waterfall.

The location of the house is on the North Shore of Long Island in a very sought after blue ribbon school district.

I agree with everyone’s comments, the junk is being sold by people who just want out and the people who have a nice home, in a nice area, with good schools,are trying to hold their ground. We are not ready to just dump the home. Some people need to just sell due to financial situations, relocation or many other issues, but our family does not. We have lowered our price in hopes to attract more buyers and with lowering the price, the lowball offers are just getting lower and lower creating more frustration!
The buyers out there are all hoping that us sellers reach our breaking points. So now that you have more information on our home does anyone have any other suggestions. Just looking for a fair price so we can move closer to our family.
Thanks again for your help & suggestions.

Hey Yankee,

I'm just curious when you bought your home. Buyers IMO will not pay what homes sold for in the late 2005-2006 time period. The way I look at it is if you have to sell at a distressed price you will also be buying your new home at a great price so it's a wash. Good luck and I love the North Shore.

[TomMoser]

The frustration you are experiencing is shared by many home sellers today. If you feel that the home is priced well and that your agent is marketing it effectively to drive traffic to your home there is not much to do except wait it out. Don't lose heart. Remember, it only takes one person. Sooner or later the right person will walk through the door and fall in love with your home.

[GigiBowman]

Originally Posted by max7418

Hey Yankee,

I'm just curious when you bought your home. Buyers IMO will not pay what homes sold for in the late 2005-2006 time period. The way I look at it is if you have to sell at a distressed price you will also be buying your new home at a great price so it's a wash. Good luck and I love the North Shore.

Truer words were never spoken

[Transpl]

I don't want to over simplify but I firmly believe that a good house in a good school district at a good price will sell.

From the desription it sounds like a great house in a great school, that only leaves.....