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I do think this will pass also. Just dont how soon. But while we are dealing with this "new normal", all I'm suggesting is be careful buying homes in Nassau or any other place for that matter at higher than normal prices. The current economy does not justify the prices. Just like someone previously said you need a $150K+ job to purchase a home in Nassau. I think more like $200K+. But you wont find many of these jobs in Nassau. NYC is dealing with a budgetary crisis. We'll have to wait for the election to see how things move forward.
When I sold my home in 2013 I shook my head at the number we got. At the time we doubled our purchase price plus $46k in just over 15 years. I thought that they were crazy. Prices will fall as they are always cyclical and they will be right back up again.
When I sold my home in 2013 I shook my head at the number we got. At the time we doubled our purchase price plus $46k in just over 15 years. I thought that they were crazy. Prices will fall as they are always cyclical and they will be right back up again.
Buying in 1997/98 was what saved you. I bought in 2005...ouch.
Buying in 1997/98 was what saved you. I bought in 2005...ouch.
Yup. We bought in ‘97. People who bought in early 2000s not only paid top dollar for their homes they all did gut renovations or massive expansions. I can’t think of anyone in my old neighborhood who bought them and is getting back what they paid on top for the changes. No way. Inventory has been light because of this. Now may be the time to see if that house can be unloaded.
Seems in the short term, it's a gold rush...this pic is not a Trump rally, protest or Springsteen ticket giveaway...it's a Levittown open house for a $360k listing today. It's going to sell in a day for closer to $460k+. It's reasonably move in ready. The line has been like this for hours and sometimes turning the corner. My neighbor and I were joking saying we've never seen anything like this. I was tempted to go hand paint a FOR SALE sign for my house. Not even tell the wife and kid. Screw 'em! lol
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Last edited by monstermagnet; 09-19-2020 at 11:35 AM..
Seems in the short term, it's a gold rush...this pic is not a Trump rally, protest or Springsteen ticket giveaway...it's a Levittown open house for a $360k listing today. It's going to sell in a day for closer to $460k+. It's reasonably move in ready. The line has been like this for hours and sometimes turning the corner. My neighbor and I were joking saying we've never seen anything like this. I was tempted to go hand paint a FOR SALE sign for my house. Not even tell the wife and kid. Screw 'em! lol
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Ahh dosent seem like the pic went through monster. Would have been interesting to see!
Seems in the short term, it's a gold rush...this pic is not a Trump rally, protest or Springsteen ticket giveaway...it's a Levittown open house for a $360k listing today. It's going to sell in a day for closer to $460k+. It's reasonably move in ready. The line has been like this for hours and sometimes turning the corner. My neighbor and I were joking saying we've never seen anything like this. I was tempted to go hand paint a FOR SALE sign for my house. Not even tell the wife and kid. Screw 'em! lol
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That home will be an all cash contractor purchase who will double dormer it and put it back on the market. I will bet everything I own that home won’t sell to a first time home buyer. No chance
Seems in the short term, it's a gold rush...this pic is not a Trump rally, protest or Springsteen ticket giveaway...it's a Levittown open house for a $360k listing today. It's going to sell in a day for closer to $460k+. It's reasonably move in ready. The line has been like this for hours and sometimes turning the corner. My neighbor and I were joking saying we've never seen anything like this. I was tempted to go hand paint a FOR SALE sign for my house. Not even tell the wife and kid. Screw 'em! lol
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Can't see the pic but I can imagine - it them becomes almost like an auction when you price it that low. Not a terrible strategy.
Can't see the pic but I can imagine - it them becomes almost like an auction when you price it that low. Not a terrible strategy.
I bought a house in auction in another country years ago and they set a ridiculously low reserve price. 14 groups of bidders. I ended up paying slightly more than anticipated but it was clear that 10 of the bidders had no chance.
Homes are like the stock market....You will have many ups and downs throughout the 30+ years you’re in it. But you just stay the course and keep chipping away monthly and there is a great chance that your home will be worth more than what you paid for it in 30 years. Especially in a nyc metro area.
When I sold my home in 2013 I shook my head at the number we got. At the time we doubled our purchase price plus $46k in just over 15 years. I thought that they were crazy. Prices will fall as they are always cyclical and they will be right back up again.
Yea... I tried to stress short term but some people believe prices will continue to rise no matter what.
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