Housing Bubble Continues to Burst (Northville: sale, apartments, foreclosures)

[Samalabear]

I've often written about two homes in my neighborhood, which have been on the selling block for over a year now. They started out at $389,000 for each one and as of last week they were $349,000. Well, one of them just sold this past week for $286,000, according to MSLI. I was curious because I walk and/or drive this house everyday and first I noticed a POD being delivered and then the sold sign. I don't know what this bodes for home a few homes down from mine, which went in two months from a starting price of $349,000 to $319,000, and it's still not budging and nobody's looking, or the other house a on the same block as this sold one that is still asking $349,000. This is in East Setauket right above 347.

[dman72]

If that's the area of the storybrook homes between Belle Meade and Old Town, then the information about the Northville Plume has more than likely had an affect on the sale of these homes. I wouldn't move into one of those houses for free. They sit upon a pretty serious oil spill.

Not that the housing market isn't still going down, but this area has problems beyond that normal market fluctuations.

[Crookhaven]

Originally Posted by dman72

If that's the area of the storybrook homes between Belle Meade and Old Town, then the information about the Northville Plume has more than likely had an affect on the sale of these homes. I wouldn't move into one of those houses for free. They sit upon a pretty serious oil spill.

Not that the housing market isn't still going down, but this area has problems beyond that normal market fluctuations.

Agreed.

I think OPs talking about the The Critter section or Arrowhead ...its even worse.
I cant believe how run down that area has gotten. It was really decent and working class back in the day
Theres many foreclosures and slumlord college flop houses to be had in there driving down the values.

I guess every area has its low point and for 3v, that would be it.

I actually think the market has stabilized a bit, that area is just rough.
Itll gentrify...Its 3v on the cheap.

Crooks

[dman72]

Originally Posted by Crookhaven

Agreed.

I think OPs talking about the The Critter section or Arrowhead ...its even worse.
I cant believe how run down that area has gotten.

Theres many foreclosures and slumlord college flop houses to be had in there driving down the values.

I guess every area has its low point and for 3v, that would be it.

I actually think the market has stabilized a bit, that area is just rough.

Crooks

I know the critter area well..know a lot of people who lived there during my time at SB. Some of those houses were NASTY, and there are indeed a few of them on the MLS, although it looks like a lot of updating has been done. They were packing 8 kids in some of those houses with basement apartments and stuff. Some good parties, though.

[Crookhaven]

Originally Posted by dman72

I know the critter area well..know a lot of people who lived there during my time at SB. Some of those houses were NASTY, and there are indeed a few of them on the MLS, although it looks like a lot of updating has been done. They were packing 8 kids in some of those houses with basement apartments and stuff. Some good parties, though.

Hell yea on the parties.



On the updating...not so much.
The Mushroom Houses are long in the tooth.

Crooks

[dman72]

Originally Posted by Crookhaven

Hell yea on the parties.



On the updating...not so much.
The Mushroom Houses are long in the tooth.

Crooks

There are also high tension lines running right through there, and some kind of weird sand pit behind the houses north/east of Old town..and I've heard that area is a cancer cluster also.

One mushroom house on Old Town Road sold recently for 178K according to the MLS. That's a 1995 price there!!

[Crookhaven]

Originally Posted by dman72

There are also high tension lines running right through there, and some kind of weird sand pit behind the houses north/east of Old town..and I've heard that area is a cancer cluster also.

One mushroom house on Old Town Road sold recently for 178K according to the MLS. That's a 1995 price there!!

Wow that mustve been a basket case.

One positive it that they put the Rail Trail through there.
Its nice for biking.

Theres a 3V Ghetttos group on Facebook if you want to ask some current and former locals about the area.

Crooks

[thebobs]

Originally Posted by dman72

If that's the area of the storybrook homes between Belle Meade and Old Town, then the information about the Northville Plume has more than likely had an affect on the sale of these homes. I wouldn't move into one of those houses for free. They sit upon a pretty serious oil spill.

Not that the housing market isn't still going down, but this area has problems beyond that normal market fluctuations.

I'm currently searching for a house. Can you tell me what areas were affected by the plume? I don't think I'd want a house in the affected area.

[dman72]

Originally Posted by thebobs

I'm currently searching for a house. Can you tell me what areas were affected by the plume? I don't think I'd want a house in the affected area.

Consensus I've heard on this board is North of 347, east of Pond Path, South of Lower Sheep Pasture, west of Old town.

Supposedly some aspects of the geology caused the plume to flow that way, not the other towards the Arrowhead section of East Setauket. However, anecdotally and not with any sound scientific evidence mind you..there's a lot of cancer in East Setauket that I've heard of, not only in that "storybook" section of homes

Look at an aerial or satellite map of Belle Meade Road, and you'll see the oil tanks....massive amounts of oil leaked out of there for years. Then google Northville Oil Plume, I believe that there are NY Times Stories archived about it.

[rocafeller05]

Yes the house selling prices are still dropping. Ive been watching prices like a hawk for a year now. The best part I like is seeing the actual selling price on MLSLI when its sold. Some people are getting some great bargains out there.