These House Prices are Still Ridiculous! (Islip, Babylon: short sale, real estate, buying)

[glags11]

Is it me or is the price of real estate sneaking back to where it was 3 years ago? It seems to me that not many people have lowered there asking price to those of the past few years. Im not sure I can take much more of these over inflated prices....it really is disgusing...my wife and I make almost 200k together and cant find a decent home that is "worth" buying. Everyone I speak to says to wait, wait....home prices on LI are going to continue to drop...what am I waiting for?

[Rachael84]

Look in towns that you can afford. My fiance and I looked in Levittown because it seemed to be one of the few areas we could afford making ~110k together. The other towns that were in our price range were Valley Stream and Westbury, pretty much. We liked Levittown the best. I really love that area. We're closing on a short sale there in just a couple weeks (this is new news as of today ). Mint condition, 4 bedroom for $275k.

[Crookhaven]

Originally Posted by glags11

Is it me or is the price of real estate sneaking back to where it was 3 years ago? It seems to me that not many people have lowered there asking price to those of the past few years. Im not sure I can take much more of these over inflated prices....it really is disgusing...my wife and I make almost 200k together and cant find a decent home that is "worth" buying. Everyone I speak to says to wait, wait....home prices on LI are going to continue to drop...what am I waiting for?

Where in Nassau are you looking?

[djdairyp]

I couldn't agree more. When you look at a home in north carolina and then say, I would like something like that here on the island, you find yourself very quickly in the over 500k range. I am still amazed at the amount of crap available, how many people bought their homes and did nothing to them for the last 20 years, slobs, whats wrong with people.

The good thing is if you have enough of a down payment, you can make a heavy low ball offer on a house and have a serious consideration for it. If you have a good down amount to assure your mortgage, you could low ball away to see what happens and to insulate yourself for possible future price drops. You insult a few people, who cares its not personal its business.

Unfortunately, the market could just stagnate for years with little action either way until salaries catch up a bit, but at the current rate I don't see how new buyers can afford to buy, and without new buyers the market doesn't move.

[glags11]

Originally Posted by Crookhaven

Where in Nassau are you looking?

RVC and North Merrick....we considered smithtown, commack, dix hills, greenlawn in suffolk but it was just too far a commute for us. We both work in south nassau county school districts..

[Elke Mariotti]

Originally Posted by glags11

RVC and North Merrick....we considered smithtown, commack, dix hills, greenlawn in suffolk but it was just too far a commute for us. We both work in south nassau county school districts..

Have you looked in Melville? Or in Babylon (Village area)?
Of course a lot depends on what you're looking for in addition to location... i.e. ## of bedrooms/bath, size of lot, type of house, maximum re taxes, etc.

[Crookhaven]

Originally Posted by glags11

RVC and North Merrick....we considered smithtown, commack, dix hills, greenlawn in suffolk but it was just too far a commute for us. We both work in south nassau county school districts..

Nassau is completely delusional.

Check out West Islip/Babylon Village.

The best commute in the world is along Ocean Parkway


Crooks

[twingles]

Yup it's crazy - we have friends in the same boat as you, same jobs and they bought in Massapequa. They commute in different directions though.

As pp noted, a lot of people who commute from Suffolk use Ocean Pkwy - used to work with a guy who commuted from SMITHTOWN TO UNIONDALE and used Ocean and swore it was the fastest way even though the mileage was actually higher.

[StephM]

I agree with Crooks-for the most part Nassau still thinks its 2006. RVC is beautiful-but what is your budget? You should try looking in Seaford, Wantagh, and Bellmore if you want south Nassau.

I'm looking in Suffolk and the price changes are huge in most areas. Still not fully corrected, I think this winter will be the best time to buy.

[zulu400]

Yeah, I agree that the price has still not corrected completely. And you will surely see some Govt sponsored media propaganda in the near future trying to influence fence sitters to jump in by getting some beautiful reports in the news like sales are moving up !!