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Any idea if the inventory of trade up homes increase or is this reflective of the LI market in general? Everything on the market is starter or just awful. Seems like no one wants to sell their good lots and nice homes.
Any idea if the inventory of trade up homes increase or is this reflective of the LI market in general? Everything on the market is starter or just awful. Seems like no one wants to sell their good lots and nice homes.
Plenty of homes out there, mostly they sit though until someone will overpay. I see tons of houses that were purchase in 2007 (peak) and now they want more then they paid but tens of thousands.
Nice trade-ups have held their value because people are not looking to move into a house and do a lot of work anymore. So people will pay for a nice house. And I guess if someone recently put a lot of work in, they are not inclined to go anywhere.
Any idea if the inventory of trade up homes increase or is this reflective of the LI market in general? Everything on the market is starter or just awful. Seems like no one wants to sell their good lots and nice homes.
Hmmm, don't know where you're looking, what you consider "trade-up" or what your price range is. I see plenty of what I'd consider "trade-up houses"; although some take their homes off the market if no one makes a decent offer...
Hmmm, don't know where you're looking, what you consider "trade-up" or what your price range is. I see plenty of what I'd consider "trade-up houses"; although some take their homes off the market if no one makes a decent offer...
Most of the "trade up" homes are WAYYYYY overpriced. A 1700sqft ranch for 420K in miller place?! Hell no. And if you manage to find a home thats within range the taxes are destructive to the deal. Sorry, not paying 15K/yr in property taxes.
Ah, the Island Conundrum. (BTW I'm copyrighting it).
FWIW we're seeing some movement in nice homes down here mostly because of people getting an ultimatum from their company to move to X or get let go. So for some of these folks (some are high rollers) it's worth taking a loss on the house than lose a job they can't replace. Anything like that happening on the Island?
There are plenty of trade up homes.......MHO is that is the section of the market that is getting crushed. What is your definition of trade up?
I think most trade up homes are in the 400 range for the average person. And yea, theres plenty of homes in that range, but not many "trade ups", more like lateral trades. Usually when you trade up you get more land, more space, etc. but not on LI. The homes that I have found in this range are killed by some crazy tax structure (mainly looking in Manorville). Sorry, but I'm not paying $15,0000 per year in taxes!
But if your looking for a 3,000 sq. ft. home with 4-5 bedrooms, 3 baths on acre of ground built in the last 15 years your taxes are going to be $15,000.
File "trade up" with "good area"... One person's trade up is another person's downsize.
Seems to be plenty of inventory in all price points all over LI - no clue what the OP is even talking about.
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