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Old 11-28-2022, 06:31 AM
 
106,636 posts, read 108,773,903 times
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Quote:
Originally Posted by suzook View Post
NY Metro area is hanging tough. Wont see the major decline in home prices and Rent like other areas.
Even in 2008-2009 we stood up fairly well .

We sold 2 of the manhattan coops we owned for a mere 10% less than the record high
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Old 12-01-2022, 07:44 PM
 
108 posts, read 120,223 times
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https://therealdeal.com/tristate/202...t-3-year-high/


"Long Island home price cuts at 3-year high Ask has been reduced on more than one-third of listings"


at least prices are coming down,
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Old 12-02-2022, 02:33 AM
 
106,636 posts, read 108,773,903 times
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However many are homes that didn’t sell even when rates were low .

So yeah , the prices are coming down for a reason other then local economics on a lot

Homes are not like stocks ..there can be 20 homes for sale , but if the

wife does not like them they ain’t selling it so fast .
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Old 12-02-2022, 06:26 AM
 
10,864 posts, read 6,472,539 times
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Quote:
Originally Posted by nowyok View Post
https://therealdeal.com/tristate/202...t-3-year-high/


"long island home price cuts at 3-year high ask has been reduced on more than one-third of listings"


at least prices are coming down,
austin,tx
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Old 12-02-2022, 09:14 AM
 
544 posts, read 939,445 times
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Don't worry. Hochul is here to help.

https://www.governor.ny.gov/news/gov...new-york-state

Quote:
Permit accessory dwelling units in single-family neighborhoods: Governor Hochul will propose legislation to require municipalities to allow a minimum of one ADU on owner-occupied residentially zoned lots. This legislation will allow for municipalities to set size requirements and safety standards for these dwellings. It will also require that an amnesty program be created in New York City to legalize existing ADUs, with the expectation they be brought into compliance with building code to ensure resident safety. The housing plan will also include capital funding for municipalities or nonprofits to assist in the legalization or creation of new ADUs.
Kick-start transit-oriented development: Governor Hochul will propose legislation to foster multifamily construction in zones drawn by municipalities around rail transit stops within commuting distance to New York City. The State will provide assistance to municipalities for drafting the ordinance changes, easing the burden on smaller municipalities.
Welcome to the Citification of Nassau and Suffolk.
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Old 12-02-2022, 09:21 AM
 
544 posts, read 939,445 times
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Quote:
Originally Posted by nowyok View Post
https://therealdeal.com/tristate/202...t-3-year-high/

"Long Island home price cuts at 3-year high Ask has been reduced on more than one-third of listings"
at least prices are coming down,
From the article you shared:
Quote:
The price cuts are not the result of an increase in home listings; the inventory crunch is still pronounced. Many sellers are still entertaining multiple offers, often above the asking price.
Quote:
Even with some asking prices falling, buyers are still contending with high prices. Sales prices hit highs and bidding wars increased in both of Long Island’s counties last quarter, according to Jonathan Miller’s report for Douglas Elliman.
Quote:
The median price of one- to three-family homes and condos sold in the second quarter was $620,000, up from $605,000 the previous quarter and $585,000 a year earlier. The average price was $720,000, up from $703,000 and $693,000, respectively.
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Old 12-02-2022, 10:03 AM
 
2,685 posts, read 2,327,622 times
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Quote:
Originally Posted by atypicalLIer View Post
Don't worry. Hochul is here to help.

https://www.governor.ny.gov/news/gov...new-york-state



Welcome to the Citification of Nassau and Suffolk.
Horse face scrapped that idea cause of the backlash. She may revisit it and there may be arson committed all over the state if she tries it. Long Island townships get so little state aid even if she tried this and townships don’t comply worst she can do is strip the pennies we get.
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Old 12-02-2022, 11:06 AM
 
544 posts, read 939,445 times
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Quote:
Originally Posted by gx89 View Post
Horse face scrapped that idea cause of the backlash. She may revisit it and there may be arson committed all over the state if she tries it. Long Island townships get so little state aid even if she tried this and townships don’t comply worst she can do is strip the pennies we get.
Now that she has been elected, 'Hochul promised to unveil a “bold and audacious” housing agenda next month.'
https://therealdeal.com/2022/12/01/g...itz-next-year/
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Old 12-02-2022, 12:25 PM
 
2,685 posts, read 2,327,622 times
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Quote:
Originally Posted by atypicalLIer View Post
Now that she has been elected, 'Hochul promised to unveil a “bold and audacious” housing agenda next month.'
https://therealdeal.com/2022/12/01/g...itz-next-year/
She can talk all she wants. Local townships and village zoning will always supersede the state. When she attempts to override that it will be tied up in court for a decade. Try building a triplex in muttontown or 4 unit on a sfh street in riverhead.
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Old 12-02-2022, 12:54 PM
 
1,261 posts, read 560,706 times
Reputation: 1175
Quote:
Originally Posted by gx89 View Post
Horse face scrapped that idea cause of the backlash. She may revisit it and there may be arson committed all over the state if she tries it. Long Island townships get so little state aid even if she tried this and townships don’t comply worst she can do is strip the pennies we get.
Except that every single village and township already allows accessory apartment permits as either mother/daughter or senior citizen apartments. They can't claim the concept is unsafe when, in theory, every single home in the jurisdiction is already allowed to apply for that exact usage. They allow apartments, but only for people who will kiss the ring and pay the ridiculous zoning appeal fees.

The bill also never waived building code provisions or permit requirements, but cut out a zoning provision. On a related note, most local zoning is a farce- too complicated, nuanced, and vague (so as to be left to interpretation by town officials-- TOH considers any interior lock requiring a key a "separation of living space" and potential evidence of an apartment). Most of the items regulated are already barred by state building codes or should be more appropriately placed within town or village codes. The proposal didn't even mandate permission for basement sleeping quarters, which is legal on a state level, provided the space meets all habitation requirements, but is banned in many municipalities.
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