I know they say the market is dropping

but although some of the homes are sitting longer the new homes being posted are still up there.

Just curious as to what other peoples thoughts are.

Re: I know they say the market is dropping

these are all the new ones in my neck of the woods

hmm its not letting me post

Message edited 8/17/2006 4:10:45 PM.

Re: I know they say the market is dropping

Linky not working.

Re: I know they say the market is dropping

I think it is definitely taking more time for things to sell. The market is definitely a lot slower than it had been - but I see stuff moving. Things that are priced right are selling. Prices seem to have leveled off.

It seems like the stuff sitting a long time is priced way over what they would have gotten last year, or is just crap. JMHO.

Re: I know they say the market is dropping

there is a lot of crap out there for sure. Those homes sit. There are a few in my neck of the woods that have been sitting and are overpriced. They're not crap but are overpriced IMO. They are about 7-10% over.

Like this one, not my cup of tea, but it's a 11 room colonial..it's overpriced.
Overpriced in Bethpage

Re: I know they say the market is dropping

here's a house DH and I can afford

Re: I know they say the market is dropping

It will probably sell for about 10-15 k less but isnt that the game in sales ask more you can always haggle.

Re: I know they say the market is dropping

Posted by SweetestOfPeas

here's a house DH and I can afford

Re: I know they say the market is dropping

Posted by schnapy

Posted by SweetestOfPeas

here's a house DH and I can afford

Oh stop and that house is cute

Re: I know they say the market is dropping

Posted by SweetestOfPeas

Posted by schnapy

Posted by SweetestOfPeas

here's a house DH and I can afford

Oh stop and that house is cute

it's hot!!

but hey, at least there is something on LI we can afford

Re: I know they say the market is dropping

my Dad dropped his price $80K or about 12.5%

his agent- who has also been a friend for 20 years- told him to take it- the market is slower then she has ever seen

and she was in the business during the market crash- b/c she was working at the real estate company my Dad sold right before the crash

Re: I know they say the market is dropping

Being in the title insurance business, I can honestly say business is slower (compared to the last 2-3 years) but not dead. RE market did not crash, I think it just had a soft landing. I am still pretty busy and RE lawyers are still giving me purchases to process. I think that A LOT of sellers are completely unrealistic with the prices they want to sell their house for. They think I can get $650K for a house that is worth $400K. This is the mentality of the past three years and the buyers are not having it anymore. Add to that all of the houses for sale, and it is a sellers market...which is great!
I have a neighbor who had no intentions of selling his house unless he could "get his price" so that he and his wife could move to Florida. There is SO much of this out there and that is what is making it a buyer's market, all of these late to the game sellers who have no desire to REALLY sell are flooding the market. I told him he would not get his "price" in the condition that his house was in (kitchen and bathrooms need to be gutted, and they need a new roof). The home that are selling now are ones that people
1 - can just move into with out doing anything else but paint.
2- total fixer uppers at a very low price.

This is just my two cents and I am sure some of you will not agree with me, I am just writing what I am seeing with my clients. I hope this helps those of you who are looking to buy a home soon. I hope you all get the homes you want a great price

Message edited 8/18/2006 9:52:56 AM.

Re: I know they say the market is dropping

Posted by dandr10199

Being in the title insurance business, I can honestly say business is slower (compared to the last 2-3 years) but not dead. RE market did not crash, I think it just had a soft landing. I am still pretty busy and RE lawyers are still giving me purchases to process. I think that A LOT of sellers are completely unrealistic with the prices they want to sell their house for. They think I can get $650K for a house that is worth $400K. This is the mentality of the past three years and the buyers are not having it anymore. Add to that all of the houses for sale, and it is a sellers market...which is great!
I have a neighbor who had no intentions of selling his house unless he could "get his price" so that he and his wife could move to Florida. There is SO much of this out there and that is what is making it a buyer's market, all of these late to the game sellers who have no desire to REALLY sell are flooding the market. I told him he would not get his "price" in the condition that his house was in (kitchen and bathrooms need to be gutted, and they need a new roof). The home that are selling now are ones that people
1 - can just move into with out doing anything else but paint.
2- total fixer uppers at a very low price.

This is just my two cents and I am sure some of you will not agree with me, I am just writing what I am seeing with my clients. I hope this helps those of you who are looking to buy a home soon. I hope you all get the homes you want a great price

Re: I know they say the market is dropping

Posted by dandr10199

The home that are selling now are ones that people
1 - can just move into with out doing anything else but paint.
2- total fixer uppers at a very low price.

This is just my two cents and I am sure some of you will not agree with me, I am just writing what I am seeing with my clients. I hope this helps those of you who are looking to buy a home soon. I hope you all get the homes you want a great price

Re: I know they say the market is dropping

Posted by SweetestOfPeas

Posted by dandr10199

The home that are selling now are ones that people
1 - can just move into with out doing anything else but paint.
2- total fixer uppers at a very low price.

This is just my two cents and I am sure some of you will not agree with me, I am just writing what I am seeing with my clients. I hope this helps those of you who are looking to buy a home soon. I hope you all get the homes you want a great price

you're right about the categories of houses that are selling. also 3 - houses that are priced right and in good areas.

those are selling.

Re: I know they say the market is dropping

Its definitely dropping. And mortgage rates really havent gone up that much.

If you see mortgage rates over 7%, prices will definitely fall even more.

everyone knows my feelings on this subject - the LI economy cannot sustain housing being this expensive - yes I know LI is always going to be expensive, but the past 5 years has had the fastest appreciation EVER - without an increase in salary to match.

Re: I know they say the market is dropping

Re: I know they say the market is dropping

my broker told me that the problem is that homeowners - general statement - don't realize quite how much of a buyer's market this is and ultimately, price their house at a price higher than what they can get for it in this market. So their house doesn't sell, or it takes a long time and in the meantime, more houses come on the market. The end result has been a lot of houses and not a lot of buyers.