Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > New York > Syracuse area
 [Register]
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.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 01-18-2018, 07:32 AM
 
Location: Not Oneida
2,909 posts, read 4,252,620 times
Reputation: 1177

Advertisements

Quote:
Originally Posted by jonthedream View Post
Yes, based on what I have seen, unfortunately it is. The new builds immediately lose value when purchased. Newer homes (but not new builds) probably have the best chance of retaining, and possibly gaining, value. Older homes (like in the villages) are my preferred type, but you need to put so much money into them (which is fine if you plan to stay for awhile), but in the end you don't get the money out because there is only a small percentage of homebuyers interested in living in a home from the turn of the century (1900, not 2000) and there is a ceiling on what you can get for that type of house, regardless of what improvements you make.
I think new construction is actually the best deal if you can afford it.

Its NY so your gonna lose out at selling time. On a new house you shouldn't have to put nothing in so you stand a chance at zeroing out at sale. Say 250K buy in. Zero dollars in over 10 years. Sell for 230K take a 20K loss and move South.

But buy afew years old at 230K and keep it ten years and your looking at a furnace and water heater, maybe a roof and few other things so say 20K in upkeep. Sell at 210K and your out 40K when you move.

The older homes are a deal on the surface but once you keep into fancy things some people like such as more then one outlet per room, a furnace that doesn't cost 600 a month to run and walls that aren't made of plaster and horse **** your over 200K and selling for 75K.

BTW I actually did that last. Seemed like a good idea at the time but looking back.................
Reply With Quote Quick reply to this message

 
Old 01-18-2018, 08:42 AM
 
Location: Where my bills arrive
19,063 posts, read 16,876,509 times
Reputation: 15423
Quote:
Originally Posted by ckhthankgod View Post
1) You don't need to "believe in STAR" in VA. I'm just saying what occurs in terms of listings


2) No one denied the property tax rates. They were posted in the beginning by myself and other posters.


3) There is only one home the OP posted that is within the city of Syracuse and it doesn't show a 10k property tax bill(the one of Brattle Road, which is Sedgwick and one of the nicest area of the city, if not the nicest)


4) The -0.2 is pretty in line with what I stated in terms of the area not having big booms or busts. It is pretty much a stable area in that regard. With that said, it will also vary within the area(Onondaga, Oswego and Madison counties). With that said, it is interesting that the same map showed increased values for the other Upstate NY areas.


5) There are other areas with below median home prices that are growing and still get value growth. With that said, the Housing Opportunity Index is still important, as it shows how much of a market is available to most people in an area.
Believe what you like, I don't believe in STAR in NY its only applicable here if my age qualified me. I am not critiquing the homes the OP selected nor am I going to start picking out others. Yes below the median price more may be able to buy and more may be making less and more will have less profit it they need to move to a more average market. And as many posters on the upstate boards of CD have stated the compensation for professional positions when they can find one fall well below the average for those skills. That's their posts not mine, so I guess you pay less, make less and STAR will make the taxes seem reasonable....

Have a good day
Reply With Quote Quick reply to this message
 
Old 01-18-2018, 09:10 AM
 
92,201 posts, read 122,469,470 times
Reputation: 18172
Quote:
Originally Posted by VA Yankee View Post
Believe what you like, I don't believe in STAR in NY its only applicable here if my age qualified me. I am not critiquing the homes the OP selected nor am I going to start picking out others. Yes below the median price more may be able to buy and more may be making less and more will have less profit it they need to move to a more average market. And as many posters on the upstate boards of CD have stated the compensation for professional positions when they can find one fall well below the average for those skills. That's their posts not mine, so I guess you pay less, make less and STAR will make the taxes seem reasonable....

Have a good day
Actually compensation is usually around the national average when looking at average annual pay, but again this will depend on your occupation, experience, etc. https://www.bls.gov/oes/current/oes_45060.htm

https://www.bls.gov/oes/current/ny_counties.htm

https://www.bls.gov/oes/current/oes_nat.htm

Last edited by ckhthankgod; 01-18-2018 at 09:34 AM..
Reply With Quote Quick reply to this message
 
Old 01-18-2018, 11:52 AM
 
201 posts, read 297,309 times
Reputation: 459
Alright, but even your best case scenario is only losing a little money.

With new builds I was thinking like Ryan Homes, where a potential buyer could either pay someone for the choices they made, or build their own with their own choices. I know one couple that bought a Ryan Home for $325k and then got divorced and were forced to sell 3 years later and only got $240k for it.

Quote:
Originally Posted by Sean® View Post
I think new construction is actually the best deal if you can afford it.

Its NY so your gonna lose out at selling time. On a new house you shouldn't have to put nothing in so you stand a chance at zeroing out at sale. Say 250K buy in. Zero dollars in over 10 years. Sell for 230K take a 20K loss and move South.

But buy afew years old at 230K and keep it ten years and your looking at a furnace and water heater, maybe a roof and few other things so say 20K in upkeep. Sell at 210K and your out 40K when you move.

The older homes are a deal on the surface but once you keep into fancy things some people like such as more then one outlet per room, a furnace that doesn't cost 600 a month to run and walls that aren't made of plaster and horse **** your over 200K and selling for 75K.

BTW I actually did that last. Seemed like a good idea at the time but looking back.................
Reply With Quote Quick reply to this message
 
Old 01-18-2018, 12:29 PM
 
Location: Not Oneida
2,909 posts, read 4,252,620 times
Reputation: 1177
Quote:
Originally Posted by jonthedream View Post
Alright, but even your best case scenario is only losing a little money.

With new builds I was thinking like Ryan Homes, where a potential buyer could either pay someone for the choices they made, or build their own with their own choices. I know one couple that bought a Ryan Home for $325k and then got divorced and were forced to sell 3 years later and only got $240k for it.
You gotta remember a house costs exactly the same anywhere in the US.

A house that costs 200K to build in Syracuse costs 200K in Manhattan or SF or Seatlle.

The price difference is the land. A square foot of land in Seattle will buy an entire village Upstate.

So they can add alot of nice things. And hid mistakes easy. Wrong color granite?? Woops. Tack on 10 grand on a 500K house nobody will notice.

Upstate NY is rock bottom cut throat business. Taxes are due gotta slap um up and move them our.
Reply With Quote Quick reply to this message
 
Old 01-18-2018, 11:52 PM
 
7 posts, read 18,976 times
Reputation: 21
My initial comment about thinking taxes are great: Yes, NY state definitely has high *property* taxes and that's a problem for various reasons. I am looking at total tax load (federal plus state plus local) and am not put off by what I see. There is no way to have a high quality, civilized society without taxes, and I would much rather live somewhere that recognizes this than somewhere that doesn't. I don't mean to start a discussion of this, I'm just clarifying what I meant earlier by that remark. FWIW, property taxes where I am now are not high, about $2500 on a $450,000 house. Total tax load is much higher though in upper middle class and higher income brackets.

I didn't mean to get down on Syracuse real estate, I was just trying to clarify my impression. Everything else being equal, sure, I'd rather live somewhere where my house will go up in value rather than stay flat or go down. But things aren't equal, and it is pretty hard to find a place that has growing house prices that isn't choked with development. I would rather live in, for example, Fayetteville, in a house that never goes up in value, but know that just two minutes to the east there is forest rather than hundreds of new houses being built every week, with more and more cars piling onto the roads, etc.

There is a lot of discussion on the forums about the Syracuse and upstate area compared to other places in the US, so let me just say: When I visited Syracuse recently I was really taken by how nice it seemed, and I thought it was *way better* than most places I have been in the US or Canada (I lived most of my life in the US and Canada and have travelled extensively throughout both countries). You might chuckle at this but I think a bonus of the job is that it is located in Syracuse! From my perspective people who move from Syracuse to Florida, Texas, Colorado or whatever are crazy! (Different strokes for different folks, of course).

Thanks for the various links, etc., they are all helpful and interesting.
Reply With Quote Quick reply to this message
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.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:




Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > New York > Syracuse area

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top