Question on Long Island home prices & more (New York, Huntington: for sale, real estate)

[amsm196]

Hello everybody reading! And a big hello to all the " New Yorkers"! Ok I'll keep our story as short as possible, then I have question's.

We moved away from Long Island NY about 10 years ago and moved to Las Vegas, due to some medical problems I ran into we had to stay longer then we wanted due to my health insurance. Now I'm healthy ( Thank God ) and we are ready to get out of Vegas, we don't feel this is the best place to raise a family.

We want to move back east, but we do not make the big bucks, yet we did make a nice chunk of change off of our house we purchased here. So we have a lot in equity. And while we dont earn much we could have a very low mortgage.

Now the thing we are confused about is we are reading so many conflicting articles in magazines, on this post board and some from friends, some say that the home prices are and will drop in Long Island, but some articles say the total opposite , like the homes will stay the same or slowly go up in value.

So what is everybody's opinion? To those who are in NY, please let us know what's going on.

Also are there many two family homes on the north shore of LI? I asked because my parents also made an offer to go half with them in a house and they said all they would need is a private entrance to their part of the upstairs , yet have their own kitchen and bedroom, bath and so on.

Last question what would or do the taxes average on a Long Island home, lets say in the 450,000 range?

Thanks

[okaydorothy]

Well my house is for sale. It does come with a huge basement apt. The asking price is $509,000 ; our taxes are $9500. We are in Longwood school district.

Good luck
dorothy

[OvertaxedOnLI]

some say that the home prices are and will drop in Long Island, but some articles say the total opposite , like the homes will stay the same or slowly go up in value. .... To those who are in NY, please let us know what's going on.

Honest answer: It totally depends on what realtor you're talking to. Just like that wireless phone company commercial where the realtor says "It's a buyer's market" to a potential buyer and "It's a seller's market" to the potential seller. In the words of Dr. Gregory House, "everybody lies". Or at least puts their own spin on it. Bottom line? Nobody has the crystal ball.

I will say that Greenport is the new "hot market" and I see home prices have steadily risen in that area and IMHO will continue to do so over the next few years.

so are there many two family homes on the north shore of LI?
As I'm sure you know from having lived here before, there are more "illegal" (i.e., without the Town's knowledge) 2-family homes here on LI than "legal" two's or mother/daughters. Also where on the North Shore? Nassau or Suffolk?

Here is an example of a house in Baiting Hollow (out near Riverhead) that is already set up as a 2-family. Notice the listing doesn't say "legal two".
http://www.mlsli.com/uniDetails.CFM?...start=1&rpp=20

Last question what would or do the taxes average on a Long Island home, lets say in the 450,000 range?

Totally and completely and 100% depends on the community/school district as well as the house. My SIL lives in a Strathmore ranch on a half-acre in Stony Brook. I see lots of houses just like hers on MLS right now. The taxes range from $6500-$8500; here is one such listing, priced at $420K. Btw, Three Village is one of the better school districts on LI.

http://www.mlsli.com/uniDetails.CFM?...start=1&rpp=20

Best bet is for you to go to www.mlsli.com and do a search to see what's available in what areas and for what taxes.

[momix5]

Hello! The prices in my area, Pat?Med Schools has stayed about the same, maybe a little drop in on my block. My house is fsbo for less than 335,000 and the taxes on a 75x150 property are less than 6. It is done done done on a cul de sac. email me at cereardon@verizon.net.

[laniesdaycare]

I Live in Roosevelt, Ling Island. My sister lives in Coram. I bought my house 11 years ago for 130, it is worth 350 now. My sister bought her house 2 years ago for 450, it's worth about 500 now. North shore huh? You're looking at about 500 for a small house. Your best bet is to come visit a friend or relative and check it out for yourself. Taxes are about 6,500 for home of about 350,000. go on the internet to nassau county and see what the taxes are like and also research some homes. (nassaucountyny.gov/mynassauproperty/main.jsp )
I know right now that it's no longer a sellers market. Houses aren't being bought like they were last year. A lot of homes are on the market a lot longer. People were asking rediculous prices and getting them 1 -2 years ago. Now you might be able to "make a deal".. Take your time though. reseach your neighborhood and the school system and just because you buy a house in one neighborhood you still have to make sure you are zoned for that school system.
Good luck!

[amsm196]

Hi and thank you for the great responses. we left Huntington NY over 10 years ao, so back then i didnt really pay attention to the real estate , i was only 26, lived at home and had it made. But now we are here in " Las Vegas " and would like to move back if possible.

You asked Suffolf or Nassua, we were hoping for Suffolf. Cheaper taxes i heard. Maybe North shore suffolk.

In everybodys opinion, what areas ( towns ) are a great place to raise 2 young children, good schools, low crime and on the north shore in the 500,000 price range max, for a 2 family , at least 4 beds.


Thanks -- T

Originally Posted by OvertaxedOnLI

some say that the home prices are and will drop in Long Island, but some articles say the total opposite , like the homes will stay the same or slowly go up in value. .... To those who are in NY, please let us know what's going on.

Honest answer: It totally depends on what realtor you're talking to. Just like that wireless phone company commercial where the realtor says "It's a buyer's market" to a potential buyer and "It's a seller's market" to the potential seller. In the words of Dr. Gregory House, "everybody lies". Or at least puts their own spin on it. Bottom line? Nobody has the crystal ball.

I will say that Greenport is the new "hot market" and I see home prices have steadily risen in that area and IMHO will continue to do so over the next few years.

so are there many two family homes on the north shore of LI?
As I'm sure you know from having lived here before, there are more "illegal" (i.e., without the Town's knowledge) 2-family homes here on LI than "legal" two's or mother/daughters. Also where on the North Shore? Nassau or Suffolk?

Here is an example of a house in Baiting Hollow (out near Riverhead) that is already set up as a 2-family. Notice the listing doesn't say "legal two".
http://www.mlsli.com/uniDetails.CFM?...start=1&rpp=20

Last question what would or do the taxes average on a Long Island home, lets say in the 450,000 range?

Totally and completely and 100% depends on the community/school district as well as the house. My SIL lives in a Strathmore ranch on a half-acre in Stony Brook. I see lots of houses just like hers on MLS right now. The taxes range from $6500-$8500; here is one such listing, priced at $420K. Btw, Three Village is one of the better school districts on LI.

http://www.mlsli.com/uniDetails.CFM?...start=1&rpp=20

Best bet is for you to go to www.mlsli.com and do a search to see what's available in what areas and for what taxes.

[poohcorner]

Remember to check out the school districts especially if you have kids. I live in Port Jefferson Station in Suffolk County. It used to be Mount Sinai but there was redistricting and now we're Port Jefferson Station. There are alot of new homes being built in the area. I have a ranch on a quiet dead end street with lots of kids. Unfortunately my husband is being relocated to Tampa so we're going to be moving. We're close to Port Jefferson. I really love our neighborhood. If you want any more information don't hesitate to email me and please don't feel as if I'm trying to sell my house I was just telling you about the neighborhood.

Best of luck with the search and move!

[rockypointny]

In Rocky Point you can get a fairly nice house for $500,000 for instance, http://www.coldwellbankermoves.com/p...8&VAR_PREVIEW=

This is a great deal, new construction, 1/2 acre, and winter water views, in the excellent Rocky Point School District

[aplwh]

Take a hard look at Suffolk before you leap. It's definately cheaper than Nassau now, but with the population exploding, their infrastructure just cannot handle it. That means you can expect the taxes to go up, as it has already, in order to keep up with the demand.

Good luck.

[amsm196]

The constant rise of Long Island taxes are a joke! I'm originally from there and its sad to see Long Island forcing people to leave to a cheaper place to live.

I totally understand the fact that taxes must rise, but they when will it end?

I moved to LAs Vegas 10 years ago, back then my taxes were about 1500 maybe 1700 a year on a 4 bed 2 bath brand new home in a nice safe part of town, and now we pay $2100 but thats 10 years later and Vegas is one of if not the fastest growing city in the U.S.

My Aunt on LI paid $6000 a year back in 1996 in East Meadow NY, now she pays around 11,000 or 12,000 a year, now thats crazy. There should be a cap, what will the taxes be in another 10 years? 20,000?

On top of all that even white collar workers do not get paid very much on LI to cover the cost of living, while here in Vegas you can get a job as a warehouse worker and start at 20-22 bucks an hour, and that money here will cover your cost of living.

Long Island is in trouble, its sad. If we could go back we would.

Originally Posted by aplwh

Take a hard look at Suffolk before you leap. It's definately cheaper than Nassau now, but with the population exploding, their infrastructure just cannot handle it. That means you can expect the taxes to go up, as it has already, in order to keep up with the demand.

Good luck.