A number of houses for sale on 1 street - Why? (Ronkonkoma: real estate, buyer)

[jmax]

I just noticed a street in Kings Park where 4 houses are for sale - If you look at the surrounding streets another 3 or 4 houses are for sale. These aren't long streets with a ton of houses on them. I just found it curious. Should a large number of houses for sale in an area raise a red flag. I guess it can help with price negotiating.

[S.I.B.]

could be a red flag, could also be a coincidence. You may have to ask around and see what you can come up with:
-ask the realtors
-ask the neighbors
-check online and see how long the current owners have been there

[Kbinspections]

Where in kings park?

[jmax]

Originally Posted by Kbinspections

Where in kings park?

Fireplace Dr. There are probably less than 20 houses on that street - yet 4 houses are for sale and an additional one sold in Nov. of last year. I just noticed two of the houses for sale are right next to each other. I wasn't asking specifically about this area - It looks like a nice area. It was more of a general RE question.

[TomMoser]

I know of no reason why there are four houses for sale on Fireplace. I think it's just a coincidence. Sometimes, though, it can mean something (such as a severe flooding problem as there is on some blocks in Lake Ronkonkoma).

[brassbin]

Tom, i know the seller's agent's probbaly not gona tell you anything, but what about a buyer's agent? even if she/he is from the area and has an interest in the "well being of local real estate activity", is that agent obligated to disclose any problem?

[TomMoser]

Actually, if the seller or the agent is aware of any "material defect" they are required to tell you. Issues that may lead to several homes for sale on any given block may or may not reach this legal threshold. A Buyer's Agent should definately tell you if they know about anything because they have a fiduciary duty towards you. However, they are not required to make an investigation about things like this (check your buyer agency contract).

[OnOurWayHome]

We looked at a house for sale there - must be a year or so ago. My husband dismissed the house immediately because the houses all look alike - pet peeve of his. The area looked perfectly nice.

[newtoli]

There are about 4-5 on my street.

Everyone is trying to cash out before anything drops further.

[HomeFinder15]

On that particular block, Fireplace, there are 4 homes on the market. Two of them have homeowners who bought back in the 80's, so are probably just moving on...... One was bought 12 years ago, so it might be for the same reason. The fourth one was bought only 2 years ago, so the reason could be anything.... They have all been listed within the past 3 months.

There are 99 homes in Kings Park on the market. That's alot of competition!!