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Currently $250K-300K is way below ($100K give or take) the median home price on Long Island. It would be wonderful if that were not the case and there were lots of homes in that price range available, but there are not. Look around a bit and see what reality is, will ya, before you spout off. We are on LONG ISLAND, not Podunk, Middle America or Mecca, North Carolina.
I am not complaining because I think we should all buy homes worth 1/2 million or more nor do I have a "sense of entitlement" ... my only complaint is that in certain areas of the country, like Long Island, the government's cut-off for the tax credit of $75K for a single person and $150K for a married couple is too low due to the high cost of housing.
i just bought a 2br house last month, in bay shore, in move in condition, for $221k (and the sellers paid the closing costs). small house and small property, but its a true STARTER home. and me and my girlfriend combined dont make over $75k.
but yea if you NEED to buy a house on the north shore, or any other "upper class" area, then i guess 300k isnt doing it.
oh, a quick search on mlsli.com shows 3195 single family homes in suffolk and 948 in nassau listed for 125-300k
and just for added measure, i cut out the following school districts: amityville, brentwood, bay shore, central islip, and wyandanch... and there were still 2280 listings in suffolk in that range
moral of the story.. someone making $100k+ a year or $200k+ combined, dont need help from the government to buy a home..
i just bought a 2br house last month, in bay shore, in move in condition, for $221k (and the sellers paid the closing costs). small house and small property, but its a true STARTER home. and me and my girlfriend combined dont make over $75k.
You beat the odds. And the mortgage is in both your names? Did you get a conventional mortgage and put 20% down or did you have easier terms?
Quote:
Originally Posted by TeamExit
and just for added measure, i cut out the following school districts: amityville, brentwood, bay shore, central islip, and wyandanch... and there were still 2280 listings in suffolk in that range
Why would you deliberately exclude the SD for the town you yourself live in?
Quote:
Originally Posted by TeamExit
but yea if you NEED to buy a house on the north shore, or any other "upper class" area, then i guess 300k isnt doing it.
You beat the odds. And the mortgage is in both your names? Did you get a conventional mortgage and put 20% down or did you have easier terms?
Why would you deliberately exclude the SD for the town you yourself live in?
There's a little more to it than that.
both names, fha loan.. i excluded those specific districts because those are the main ones with lower priced housing, and theres still 2000+ other listings
both names, fha loan.. i excluded those specific districts because those are the main ones with lower priced housing, and theres still 2000+ other listings
both names, fha loan.. i excluded those specific districts because those are the main ones with lower priced housing, and theres still 2000+ other listings
By any chance, did you actually look at the low priced listings in detail, or did you just scan for price? Because quite a few of those are so run down, they're not safe to live in and would not qualify for a conventional or regular FHA loan. And some of those "condition" details are not necessarily available to the public...
By any chance, did you actually look at the low priced listings in detail, or did you just scan for price? Because quite a few of those are so run down, they're not safe to live in and would not qualify for a conventional or regular FHA loan. And some of those "condition" details are not necessarily available to the public...
i know this.. but its still 4000+ listings on LI. even if half of them are decent, its still 2000... and thats also NOT including anything under 125k, which would be either a mobile home or complete crap. my whole point really is that you definitely CAN get a decent house for $300k or less on LI.
I believe the $7,500 tax credit (loan) is available until June 30, 2009 unless they changed it recently.
tx50220 bought the house in March of 2008 and is therefore not eligible...
the $7,500 tax credit has effectively been replaced retroactively as of January 1st, 2009 by the $8,000 refundable tax credit.
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