Help - Is there anywhere in Nassau County for us?

[AlexisT]

The schools in that area are good, as long as you're still in District 26. Oakland Gardens and Hollis Hills are zoned to Cardozo (not entirely sure of the southern border of the zone). Main issue in this area is overcrowding--Cardozo in particular is brutally overcrowded.

[alexanderdennis]

All this reports are OFf
As well as the Zillow .com and so on.
Since I moved to Merrick - in 2004 - the same thing that I could buy with 400' the same think i could buy now.
there are few listings with a very low price - but we are talking about 2 bedrooms - on a 35 - 40 x 100 lot.
Maybe it is not like before - that you put a new kitchen in a house and boom you make a 100 grands at flipping.
The depreciation is not bad.
The appreciation and the time that they sit on the market is another issue.


I made this mistake - looking at the reports and listening to this so called economists in the media - in 2001,2002,2003 - that the prices are inflated and so - and I ended up in 2004 paying almost double compared with 2001.
When i bought my house - I was buying a home where I can raise my family.
It was not like a kind of - I am buying now - and sell it a year later and make a quick buck.
Under this perspective you can see a correction - the houses do not appreciate so fast like it used to.
But as far as the depreciation - not much .

Originally Posted by djdairyp

I agree merrick is a nice choice, but I don't know about the whole 'insulated from the bubble' thing, sounds like wishful thinking from a local resident.

Explain to me how this is not a bubble. 1997>>212k, 2006>>520k

Merrick, NY
Property Class 1500-2000 sq ft
year---total sales---- median neighborhood price
2009 --38 ------$475,000
2008 -- 279 ----$472,000
2007 --339 ----$513,000
2006 --376 ---- $520,000
2005 -- 373 ---- $525,000
2004 --384 ---- $460,000
2003 --342 ---- $420,000
2002 --278 ---- $393,000
2001 --255 ----$317,000
2000 -- 265 ---- $290,000
1999 -- 221 ----$266,000
1998 --293 ----$225,000
1997 --260 ----$212,500
PropertyShark - Real Estate Maps, Foreclosures, Property Reports and Comparables

I think you will be hard pressed to find many places in long island that did not bubble and are insulated from deflation.

[alexanderdennis]

Originally Posted by AlexisT

From what I saw on MLS last year, Merrick seemed to be undergoing quite a correction. There were some very, very good buys.

Yes for few short sales - I think under 10 and some handyman specials , or some 2 bedrooms on 35x 100 lot or very ,very smalls capes/ cottages.

[alexanderdennis]

Originally Posted by Northeastcouple

Wow, what an interesting thread, and if I ever have to pick a winning team in an arguing contest, I hope all of you are on my side

seriously, just about everyone that replied had real good point to make about what Jennifer 6 is looking for,but as someone else mentioned a while ago, you may want to consider Eastern Queens...I know a lot of people in Nassau and Suffolk look at anywhere in the city as a "no-no" in terms of living, but there are still a lot of desirable neighborhoods by the Nassau County border , most of of these places have Jewish communities and some where the Asain population is over 50%!! I would look into: Douglaston, Little Necck, Bayside and Auberndale.

The only things your not going to find is a really short commute and real densely populated area, but then again the same can be said for Mineola and New Hyde Park, the later town being only 10 minutes from most of the neighborhoods I mentioned....

$350k? your prob looking more towards $400k for a small house , but at least the chance of losing money in your investment anytime soon , is slim and none....

You have to be realistic .
Do not even think about 350 - 400 in those areas - not even for a small house or a handyman special.
I know investors that pay in 700 ' or more for a complete - tear down .