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Old 10-28-2010, 01:01 PM
 
62 posts, read 250,754 times
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The house is in decent shape with a total 1330 Sqft and a 4400 sqft lot. Brick house with 4 beds and 1 bath with a finished basement. Let me know whether this is a good offer and how should I continue in my negociations?
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Old 10-28-2010, 01:05 PM
 
Location: Nassau, Long Island, NY
16,408 posts, read 33,208,465 times
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Quote:
Originally Posted by geethal View Post
The house is in decent shape with a total 1330 Sqft and a 4400 sqft lot. Brick house with 4 beds and 1 bath with a finished basement. Let me know whether this is a good offer and how should I continue in my negociations?
Do you have a mortgage commitment already?
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Old 10-28-2010, 01:37 PM
 
9,341 posts, read 29,587,111 times
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geethal, it could depend on whether the property is in the Village of Valley Stream, the Hamlet of North Valley Stream, the Hamlet of South Valley Stream, or in some other community that is partly within the "Valley Stream, NY 11580 & 11581" ZIP Code postal zone.

It also depends in which school district the property is located.

Bear in mind, about half the places with a "Valley Stream, NY 11580 & 11581" mailing address (4,309 acres) are not in the Village of Valley Stream (2,258 acres).

You can find out in which community (city, village or CDP) that house is actually located, which is oftentimes different from the community named in that house's mailing address, by using the Census Bureau's online address search function. (CDP, or Census Designated Place, is the Census Bureau equivalent for a hamlet in Nassau and Suffolk Counties.)

And, very importantly, among other things, the Census Bureau's online address search function also indicates in which school district an address is located.
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Old 10-28-2010, 01:38 PM
 
Location: under the beautiful Carolina blue
22,629 posts, read 36,582,375 times
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Doesn't really matter what we think. It matters only what you and the seller can agree on. If they don't accept your offer, what are you going to say "but everyone on CD says this is a good offer!"?

As far as "is this a good offer" for you - again impossible to say without seeing the house.
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Old 10-28-2010, 01:52 PM
 
Location: Nassau, Long Island, NY
16,408 posts, read 33,208,465 times
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Quote:
Originally Posted by Gpsma View Post
I

BTW...that offer sounds decent. Valley Stream is sketchy though
It's right up your alley! There's even an old man's dive bar that you would probably LOVE!

Last edited by Keeper; 10-28-2010 at 04:57 PM..
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Old 10-28-2010, 01:57 PM
 
Location: East Northport
3,351 posts, read 9,730,584 times
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An initial offer of 305 on a home listed for 330 is certainly within reason, if that's what you're asking.
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Old 10-28-2010, 02:02 PM
 
3,686 posts, read 8,680,907 times
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Quote:
Originally Posted by I_Love_LI_but View Post
It's right up your alley! There's even an old man's dive bar that you would probably LOVE!
Every Town, Village and Hamlet needs a dive bar. BTW..my favorite dive bar in Massapequa Park was used as a film set this week. See...dive bars are important to a community.
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Old 10-28-2010, 02:20 PM
 
Location: Nassau, Long Island, NY
16,408 posts, read 33,208,465 times
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Quote:
Originally Posted by Gpsma View Post
Every Town, Village and Hamlet needs a dive bar. BTW..my favorite dive bar in Massapequa Park was used as a film set this week. See...dive bars are important to a community.
Were you an extra?

Valley Stream (including a dive bar or two) has also been film locations from as far back as D.W. Griffith's The Stuff Heroes Are Made Of (1911). (Other examples include: Trees Lounge, Brothers McMullen, portions of Goodfellas, plus it is a little-known bit of trivia that the important 1990 film Frankenhooker was filmed in Manhattan, New Jersey and Valley Stream.)

Last edited by I_Love_LI_but; 10-28-2010 at 02:29 PM.. Reason: grammar
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Old 10-28-2010, 02:50 PM
 
6,380 posts, read 13,101,287 times
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I would personally start at $290k. You can always work up!
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Old 10-28-2010, 04:27 PM
 
Location: Long Island
9,923 posts, read 23,055,376 times
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IMHO, an important question here is what are comparable houses selling for in that area?
You and the seller may agree on a price, but if the appraisal falls short, unless you are putting down more than 20% of the agreed upon price (with a conventional mortgage), your deal may not materialize. At the moment, banks are very conservative when it comes to appraised values.
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