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Reading Comprehension Section (bolded and underlined):
I am discussing his current house on LI that he wants to sell. He doesn't own a house in SC yet. The biggest and grandest McMansion in the development he wants to move to comes nowhere near $1M, let alone $1.8M. Who knows what the schools are like that serve the part of SC he's moving to. He doesn't have any kids in school now.
Again, I am talking about where he lives now on LI that houses can sell around $1.8M, not SC.
Actually he sent me a link to a SC house he likes with an asking price in the mid $300s. I went on Zillow to look at it there and since last year that house has been going down like crazy and is now "zestimated" in the low 200s. And it's still projected to keep losing value. However, I know that Zillow can be way off on the zestimates. At least they are off on LI because they just cant wrap their webpage code around our school districts and the way they are zoned.
Sorry to get your hopes up about SC schools and real estate values. Please read more carefully next time.
Easy there sport. I misread your post.
Still it is all anecdotal and one could probably find areas in other parts of the country where values went up a bunch.
Reading Comprehension Section (bolded and underlined):
I am discussing his current house on LI that he wants to sell. He doesn't own a house in SC yet. The biggest and grandest McMansion in the development he wants to move to comes nowhere near $1M, let alone $1.8M. Who knows what the schools are like that serve the part of SC he's moving to. He doesn't have any kids in school now.
Again, I am talking about where he lives now on LI that houses can sell around $1.8M, not SC.
Actually he sent me a link to a SC house he likes with an asking price in the mid $300s. I went on Zillow to look at it there and since last year that house has been going down like crazy and is now "zestimated" in the low 200s. And it's still projected to keep losing value. However, I know that Zillow can be way off on the zestimates. At least they are off on LI because they just cant wrap their webpage code around our school districts and the way they are zoned.
Sorry to get your hopes up about SC schools and real estate values. Please read more carefully next time.
I hate to burst your bubble, but houses do go down in value in Long Island. My brother bought his house in East Rockaway in 2006 for 450,000. He's lucky if he can get 350,000 for it today, especially after Hurricane Sandy. A friend of mine sold the house he grew up in and inherited on Derby St in VS in 2007 for 415,000. The current owners are still underwater on it as it's only worth maybe about 325,000 today. I remember back in the late 80s, a neighbor of ours on Pershing Ave bought his house for like 190,000, the market/economy crashed and his employer transferred him to Atlanta and he had to sell his house for the price of 140,000. LI is just like any established metro area. Prices go up and they go down. You can't compare VS to a southern town just starting to build. You need to compare apples to apples.
No, you chose it to say "nyah nyah" to me, as in houses are worth more in Weddington, NC than in Valley Stream, NY!
I say back, "la la la la la!"
haha - that's not true!
The bottom line is that LI is not unattainable or as "out of reach" as many try to represent it here. It can be affordable depending on your requirements...
There's also options in between utopian LI and "hick land". It doesn't have to be either extreme.
The bottom line is that LI is not unattainable or as "out of reach" as many try to represent it here. It can be affordable depending on your requirements...
There's also options in between utopian LI and "hick land". It doesn't have to be either extreme.
There are also options outside of Long Island between utopia and hick land where you don't have to waste $15,000 grand a year in property taxes padding the pockets of Shelly Silver and his special interests.
I hate to burst your bubble, but houses do go down in value in Long Island. My brother bought his house in East Rockaway in 2006 for 450,000. He's lucky if he can get 350,000 for it today, especially after Hurricane Sandy. A friend of mine sold the house he grew up in and inherited on Derby St in VS in 2007 for 415,000. The current owners are still underwater on it as it's only worth maybe about 325,000 today. I remember back in the late 80s, a neighbor of ours on Pershing Ave bought his house for like 190,000, the market/economy crashed and his employer transferred him to Atlanta and he had to sell his house for the price of 140,000. LI is just like any established metro area. Prices go up and they go down. You can't compare VS to a southern town just starting to build. You need to compare apples to apples.
Yes that's true. Houses can go down in value on LI in certain situations, especially after real estate bubbles that last a number of years, like the recent bubble your brother bought in and your friend sold in. When I talk of high appreciation, I am talking about people who have had their homes for a number of years. If a person has a home for only 3 years and then goes to sell it, they are not ending up with a lump sum that could buy a new home for cash in a cheaper area. I know, people bought during the bubble and now their houses are underwater, so their only hope is to stay put until the property appreciates again, but some can't. There's a lot of short sales out there because of the last housing bubble on LI.
You have a point, but it would make me worried to pay $349K for a house currently valued at $229K and projected to continue going down in value. I'd wonder what is wrong with the development, area, etc. (However, like I said in my other post, this is Zillow I was looking at and they are not perfect.) A lot of LI'ers moving South just see the house and compare it to what it would cost on LI and grab it up without thinking or doing any research. I actually know someone moving South from LI to a development in a state they've never visited and they don't plan to visit this state until after they have sold their LI house and have cash in hand to buy one of the new development homes they've been drooling over. That will be their first visit to the state ... ready to buy with cash in hand and no longer owning a LI home with their belongings in a PODS warehouse, waiting for instruction on what address to bring them to. Now if anything goes wrong with the area and they want out, they may very well be one of those people who want to move back and cannot afford to and cannot sell their Southern home because of all the competition with the other newer homes being built.
Last edited by I_Love_LI_but; 01-28-2015 at 10:01 AM..
The bottom line is that LI is not unattainable or as "out of reach" as many try to represent it here. It can be affordable depending on your requirements...
There's also options in between utopian LI and "hick land". It doesn't have to be either extreme.
One thing you for sure guys in the Charlotte area now have over NY now MikeyKid,
This is a huge pet peave with me, we're under Time Warner Cable and they make Cablevision look awesome. Terrible. So if this truly comes to pass I will be cheering!
This is a huge pet peave with me, we're under Time Warner Cable and they make Cablevision look awesome. Terrible. So if this truly comes to pass I will be cheering!
Sounds like its a done deal to me, you guys should have it by 2017 from what I read. Up to 1000 mb/s download speed, which is insane. Wow if they make cablevision look awesome TWC must be beyond awful lol!
I don't take those opinions very seriously... at all.
For complete transparency - if money was no object and I could live anywhere it would be San Fran.
Well, who else is "guilty," as per your comment "LI is unattainable or as "out of reach" as many try to represent it here?" You make it sound like that's a big thing on LI CD and everyone says it. Ironically, it's the ex-pats who post things like this while bragging about how cheap it is in their new location.
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