My thoughts on purchaing a house at Great Neck (budget, condo)

[tomhelp]

1. Suppose we have two houses in the Great Neck aera. The first one's asking price is $1.2 Millions. It was worth of $600K in the year 2004 or 2005. The second one's asking selling price is $800K but was worth of $250K in the year 2004. I will be interested in the first one.

2. I would like to pay much higher price for a perfect house. But I will give very lowball price for houses which are not suitable for my needs.

[TomMoser]

Originally Posted by tomhelp

2. I would like to pay much higher price for a perfect house. But I will give very lowball price for houses which are not suitable for my needs.

Why would you make any offer on a house that is not suitable for your needs?

[tomhelp]

Because the reality is that only few houses are identified as perfect ones according to my family's budget, needs and preferences. ( e.g. we do not like big trees at our backyard.) So, we would like to bid the so-so ones with lowball offers. However, these so-so houses may be gems for other families.

[Samrai309]

Good luck to you sir but what is the point to this thread? Is there a question in it somewhere that I missed or is this just your philosophy you are sharing...just curious?

[Smash255]

As a general rule perhaps, though keep in mind the $250,000 which is now listed at $800,000 may have had major renovations. With that being said the whole thread seems a bit far fetched as prices haven't doubled or more since 04, 05 even in Great Neck, 02 perhaps, but not 04 and 05, and the chances of finding a home $250,000 in 04 or 05 in Great Neck (other than a co-op or condo) was pretty much zilch.