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Houses are selling so fast and for so much. Next door isn't that super great a house. They put the sign up and showed it like crazy for two days and did not take any offers. On the third day they took the highest offer OVER asking.
The empty land I drive by on my way to work has been empty land since, well forever I guess. Houses are going up like crazy. Like for real overnite. With OSB over 50 bucks a sheet those houses are some big money. And they are going up faster then I can keep track. And thats just that road. As its not a special road I imagine its like that on other roads.
I'm not a betting man and I'm not gonna go door to door but comman sense tells me these people aren't coming from other states.
Was I to start betting I'd put my money on Syracuse followed by Utica with a couple Rome and Oneidas thrown in.
Houses are selling so fast and for so much. Next door isn't that super great a house. They put the sign up and showed it like crazy for two days and did not take any offers. On the third day they took the highest offer OVER asking.
The empty land I drive by on my way to work has been empty land since, well forever I guess. Houses are going up like crazy. Like for real overnite. With OSB over 50 bucks a sheet those houses are some big money. And they are going up faster then I can keep track. And thats just that road. As its not a special road I imagine its like that on other roads.
I'm not a betting man and I'm not gonna go door to door but comman sense tells me these people aren't coming from other states.
Was I to start betting I'd put my money on Syracuse followed by Utica with a couple Rome and Oneidas thrown in.
Yes, but what is causing the over asking price deals is that people from Downstate or NJ are still viewing tens of thousands over as affordable. So, you have a mix of locals and these other folks vying for these homes.
It may be a bit different your way, but the immediate Syracuse area is getting a mix.
By the way, just drove by this listing on Syracuse’s East Side not far from the University/Barry Park/shopping on Nottingham Road/Westcott Business District: https://www.realtor.com/realestatean...0_M39287-35833
A couple of homes nearby with signs out front had Sold on them. So, this is an example of even nicer parts of the city are seeing pretty quick sales.
Last edited by ckhthankgod; 06-01-2021 at 09:58 AM..
Last night, I drove around the Lawton Valley(North Syracuse SD) and Bayberry(Liverpool SD) developments last night. While homes have been going pretty fast and some had "Sold" signs on them, there were some homes still for sale in both of these communities. Both are in the town of Clay, which is north of Syracuse and have a decent mix of residents. Lawton Valley is a newer development, while Bayberry is generally older. I think both could appeal to people looking for a suburban type of neighborhood in the area.
Another area I went through briefly is the Clairmont(Liverpool SD)/Four Seasons(North Syracuse SD) area off of Henry Clay Boulevard also in the town of Clay. Both could also appeal to a mix of folks given the SD's, the proximity to Lockheed Martin, Raymour & Flanigan, other warehouses(Rite Aid, Amazon, American Grandby, DOT Foods, etc.), Eagle Comtronics, the NYS Thruway and shopping along Routes 11, 57 and even 31.
North Syracuse is the 2nd biggest SD in the area and Liverpool is the 3rd biggest in the area. At one time, both of these districts had about 10,000+ students.
Last edited by ckhthankgod; 06-09-2021 at 03:04 PM..
According to this list, the demand is higher than the homes available. Meaning, that once things settle down, it may be time to get building again. Albany and Buffalo do well according this article: https://www.realtor.com/news/trends/...ring-pandemic/
Just thinking, given the recent census information, which showed a decline in Oswego and Madison counties, I'm going to show some places in those counties that I think would be appealing to those interested in the area and may want something further out from the urban area.
In Oswego County, right away I think of the city of Oswego in terms of having a walkability, a solid bus system for its size(about 18,000 people) and that has a route into Syracuse daily, it has had some development in terms of apartments and housing and is right on Lake Ontario. https://www.realtor.com/realestatean...,-76.490752,15
The Central Square/West Monroe/Brewerton(on the Oswego County side) area is the first area in that county you enter via I-81 north coming from Syracuse. It is a bigger area that still allows for a reasonable commute into Syracuse. Solid, bigger school district as well. Area is on Oneida Lake and Oneida River. Listings in the Central Square SD: https://www.realtor.com/realestatean...87361?view=map
Phoenix, which is another community/area that is right on the Oswego/Onondaga County line puts you close to shopping on route 31 in Clay and would also allow for a reasonable commute into Syracuse, if necessary via Route 57 and/or I-481 to I-81. The village and parts of the area are on the Oswego River, with other portions on the Oneida River. https://www.realtor.com/realestatean...96,12&qdm=true
Pulaski is a village in between Syracuse and Watertown off of I-81 and has potential for development due having walkability and the bones for it. Great if you like the fish, as the community attracts a lot of fisherman due to having the Salmon River running through it. It is also close to lakeside beaches on Lake Ontario and on Sandy Pond. https://www.realtor.com/realestatean...99,12&qdm=true
Lastly, Fulton is another small city in the county with a lot of potential again for development in its Downtown, which straddles the Oswego River. It is closer to Syracuse than Oswego and is still pretty close to shopping on Route 31 in Clay. While parts have seen better days in the city, its SW Quarter around the high school/its western half and closer to Syracuse via Route 48 is a section with nice homes and is quite stable. Thunder Island amusement park and Battle Island State Park are on that side of the side just outside of the city. there is still quite a bit of land outside of the city as well in the towns of Volney and Granby, which are in the Fulton City SD. https://www.realtor.com/realestatean...,-76.394441,15
For Madison County, Cazenovia comes to mind right away due to the nice, walkable and quaint village on the lake of the same name. Very good school district that is close enough to more shopping in the Fayetteville area(Town Center) and a reasonable commute into Syracuse. Surprised that it hasn't grown more, to be honest, but has had some development in terms of apartments. Has a small college, waterfalls and more in/near the area. https://www.realtor.com/realestatean...,-75.665695,12
Chittenango is another area that borders the Madison/Onondaga County line that has had some newer housing developments go up(mentioned earlier in the thread). Has quite a bit in the immediate area between The Wild Animal Park, Yellow Brick Road Casino owned by the Oneidas and Chittenango Falls State Park. Good school district that is also a reasonable commute into Syracuse and is even closer to the shopping in Fayetteville. It is also close to Green Lakes State Park and parts of the school district touches Oneida Lake. Village has some walkability and an annual Oz Fest due to it being the birth place of L. Frank Baum, the author of the book. https://www.realtor.com/realestatean...87551?view=map
Going east of Chittenango on Route 5, Canastota is which is home to the Boxing Hall of Fame. Known for its Italian population and Muck/Onion fields, it also has a solid, walkable village with more potential as well. Plenty of land outside of the village as well. It also has a Thruway exit, which allows for easy access to Syracuse, Rome and Utica. Short drive to shopping in Oneida along Route 5 in that city. Parts of the district are also on Oneida Lake. https://www.realtor.com/realestatean...87151?view=map
Hamilton, which during the 2000-2010 period actually was the fastest growing town in the Syracuse area. It is home to Colgate University and has a nice, walkable village as well. Nice Saturday Farmer's Market on Saturdays. If you like small towns and the Arts, it would be a good choice in the area. Good school district as well. Has its own small hospital, with the one in Oneida not too far away. It is a little bit further from Syracuse, but many people go to New Hartford outside of Utica, Fayetteville or even route 5 in Oneida for more shopping. Community can shut down early during the summer months though, but the University allows for Division 1 sports and other events for most of the year. https://www.realtor.com/realestatean...89441?view=map
Lastly, Oneida is a small city in the county that covers quite a bit of land for its population(22 square miles for a city of maybe 11,000). So, it has more suburban areas in its outer district outside of the more urban portion of the city. Again, its Downtown has a lot of potential for development. It did have an issue with flooding a few years ago in its flats section near the creek on the Madison/Oneida county line. Has some nice homes along/near Route 5 near Super Walmart, the Hospital, HP Hood, Nye Ford, etc. Historically, its southern half is nicer than its northern half. Solid/good schools and of a decent size(small Class A/big Class B for sports based on student population). Parts of the school district is in Oneida County and touches Oneida Lake in the Verona Beach/Sylvan Beach area. That latter area is a small, down toe earth beach resort area with an old school amusement park. https://www.realtor.com/realestatean...54,12&qdm=true
So, those are some ideas for those counties and perhaps could be places for those interested in the area would take a look at.
Madison County does have a college in Morrisville in SUNY-Morrisville in the Morrisville-Eaton SD, which could be another option for those looking for land. Or if someone is working there, those other communities could be an option.
Houses went up for sale this Spring and sold fast and for stupid money.
New houses went up fast and with over inflated lumber.
Then houses went up for sale everywhere. People looking to cash out. I have to admit I considered doing this. Sell and rent until the bottom fell out and grab a great place at fire sale prices.
But then things went quiet..................
It takes Months to close in NY so those I understand. But the places that didn't sell first wave are still for sale. The prices seem fair for this year. But there they sit.
New people of the first wave are finally starting to move in. Thank goodness they are all nice people. All from Utica in my area.
I'm thinking it was just a small number of desperate buyers fleeing the troubled cities willing to pay anything to not be killed.
All younger people too. Older people know NY real estate always trends downward and were smart enough to know if those prices were real they would drive taxes up and you'd have to pretty much give the house away once the tax increases hit.
Talking with the guy who owner the place next door, I had not known him as it was a rental.
All the talk of stupid money bidding wars and insane offers is absolutely true.
Up to a point.
Banks have not bought into this insanity.
If a house was worth 120K thats 20% down so the bank will go 96K. Or maybe yo can find a 90's style dope fiend loan with zero down. So they float the full 120K.
So say you got caught up in the craziness and offered a buck and a half.
Bank ain't gonna give you the money. You'll have to cough up 54K cash for normal or 30K for dope fiend.
So while he got many stupid offers he sold it for much less to people with cash in hand.
So when the smoke clears on this year I think we are gonna see that prices, while high, were not as crazy as it seemed in the Spring.
^The thing is that a lot of people were buying with cash in hand in many cases. So, a lot of people coming from higher income/COL areas already had the money for a down payment. I’ve seen quite a few NJ plates around the area and some from Downstate from what I’m hearing from people I know looking for homes from their realtors.
Some of these homes are going to investors as well.
Yes, but what is causing the over asking price deals is that people from Downstate or NJ are still viewing tens of thousands over as affordable. So, you have a mix of locals and these other folks vying for these homes.
It may be a bit different your way, but the immediate Syracuse area is getting a mix.
By the way, just drove by this listing on Syracuse’s East Side not far from the University/Barry Park/shopping on Nottingham Road/Westcott Business District: https://www.realtor.com/realestatean...0_M39287-35833
A couple of homes nearby with signs out front had Sold on them. So, this is an example of even nicer parts of the city are seeing pretty quick sales.
Last edited by ckhthankgod; 08-16-2021 at 10:33 AM..
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