Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Does anyone know how Sandy may be affecting South Shore Nassau home values or sales? I've looked at the flood map showing Sandy's impact and, based on that, I would be reluctant to buy a home south of Merrick Road. Now, if other people feel the same way, house values down there could drop. And if house values drop, how will that affect the overall tax base and the future property taxes on homes north of Merrick Road? It could get interesting.
Are there any real estate agents or others who know what's happening to home sales post-Sandy?
Our house was affected by Sandy - the water went up to our basement's ceiling but missed the first floor by mere inches. We were put into FEMA's flood zone only 2 years ago - we are mid block and not that close to the water.
Our house dropped $41K in value since Sandy hit. We just found out last week when we talked to our lender about refinancing. Needless to say, we dont expect to sell our house quickly. We already have enough savings to buy another home north of Sunrise Highway, but can't realistically expect to carry the taxes/insurance on 2 homes for more than a year. There are 2 houses within a 3 block radius of ours that has been on the market for a year now. One home that would have sold for $450K near the Harbor only 5 years ago is already listed on MLSLI at a paltry $260K. Sandy has completely ruined the values of homes on the south shore.
It has certainly changed the market in a big way on the South Shore. Previously, south of Montauk Highway was a selling feature, now it is a detriment. I think it will take some time for this perception to change, but eventually it will. As for the value impact, it's too early to tell as the area is still in recovery mode. We'll see in about six months.
It will be interesting to see what SANDY does to sales on the North Shore as well!
Probably ineffectual. There was minmal water damage and any tree that was going to come down came down. If you assume an individual wants to live on LI more than live on the south shore of LI I would guess it is a net positive for the north shore.
It has certainly changed the market in a big way on the South Shore. Previously, south of Montauk Highway was a selling feature, now it is a detriment. I think it will take some time for this perception to change, but eventually it will. As for the value impact, it's too early to tell as the area is still in recovery mode. We'll see in about six months.
I think a lot longer than 6 months. It wouldnt surprise me that this storm stays in the minds of folks a lot longer than you may think. All it would take is another storm similar, maybe not as intense as Sanday, to put an end to the "selling feature" to the communities south of Montauk Hwy.
I got 3ft of water on the first floor.....crawlspace totally submerged (boiler hot water heater)....Pumped everything out and fired all the burners back up....Replaced all the sheetrock and insulation. All this while having no power for a month. Still will never move more than a 1/4 mile from the water!. A friend of mine lives in North Massapequa...drives down his block and looks at the houses all the same....same roof line same lot size and pays $18,000 in taxes and when he lays on his deck he has beuatiful views of his neighbor walking around in his underwear....meanwhile I have views of of the Great South Bay and all the wildlife swiming and flying by. Move because of a flood??? NAH
I there are some people that would never live in proximity of the water, some that would consider it and others that want to live in areas on the shore no matter what. I think that the middle ground people will look elsewhere but they may not have bought there anyways. One thing to consider is that many first homeowners in 7-10 years are only 18 years old now. How many 18 year olds that dont live near the water or know many affected are really appreciating what is happening now? I have met many many more people that do not understand the affect of Sandy on LI than do. So i think things will be affected but not as badly as people think now.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
. Sandy has completely ruined the values of homes on the south shore.
