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Hofstra26
Love to Bake!
Member since 7/06 27915 total posts
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Re: housing market- give me your opinion
Posted by Mrs&MrsK
Posted by Hofstra26
Posted by DMT
It is bad. I saw a story on news12 over the last day or so that said there are bidding wars all over.
As someone who might be selling soon (and leaving NY) this makes me SO happy. After all the renos we did, overpaying for the house right before the market crashed and then being underwater for a few years I would welcome multiple good offers on my house.
My house is move in ready, everything updated, so I hope I get lucky and get a great price. Bid away LI, bid away! 
this is how i feel except we just want to move to a different town.
the first real estate agent i had come by said that if we were moving out of state she would say list IMMEDIATELY bc houses are going up much faster in other states than here.
But that because we were iffy & moving just for schools, we should research more before jumping in.
I'd be less inclined to sell if we were trying to stay on the island, especially in this market. I'm sure the market varies depending on where you live, some areas are more stagnant that others, some fluctuate a lot more like here on the island. Hoping on the other side of things, as a buyer, we have good luck!
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Posted 4/12/17 10:31 AM  |
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Prudential Douglas Elliman Real Estate
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angelicd77
LIF Adolescent
Member since 12/13 794 total posts
Name:
Kim
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housing market- give me your opinion
We're waiting on closing now and have been looking for over a year. We got lucky with our new property. I cant believe it hadnt sold honestly. I can see a total difference between what was available last year vs now though. Prices are wayyyy higher now for less house. It really sucks 
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| Posted 4/12/17 4:07 PM |
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loveus
LIF Adolescent
Member since 9/13 684 total posts
Name:
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housing market- give me your opinion
I was talking to a neighbor who's friend is house hunting and a house in my area I thought was priced high and needed lots of updates has an accepted offer and 4 backup offers on day one.
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| Posted 4/12/17 4:20 PM |
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Re: housing market- give me your opinion
We are in contract now. Our house was listed on a Friday and we were the first in to see it Saturday morning. Made an offer on the spot. They had an open house scheduled for the next day and wanted to wait until then before accepting. We came back for the open house and it was packed. It was an exclusive listing so it wasn't even on MLS. Only on one of the many websites I checked daily. Needless to say they got a bunch of other offers and we got word we didn't get the house because of higher and stronger offers. We are strong buyers. Nothing to sell, more then 20% down, pre-approval in hand and offered almost asking!!
They came back later that night with a change of heart since they had met our family and had a connection with us.
Had I not gone to see it Saturday and gotten to meet them we would never have gotten the house.
Moral of the story, don't wait for the open house! Try to get in as soon as it's listed. Also don't just look on MLS. Check every site you can think of daily. I would have missed this house otherwise.
We had been looking for a long time before this and even in the weeks leading up to finding this house we saw the craziest amounts of people at open houses. We couldn't even get in the door at some! In all the time we looked we had never experienced anything like it.
As the others have said. Inventory is low and a huge pool of qualified buyers are waiting and ready to swoop in and bid. It's a great time to be on the selling end.
Message edited 4/12/2017 6:09:00 PM.
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| Posted 4/12/17 5:40 PM |
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Mrs&MrsK
i need sleep ;-)
Member since 2/14 2008 total posts
Name:
L
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Re: housing market- give me your opinion
Posted by MerryChristmas
We are in contract now. Our house was listed on a Friday and we were the first in to see it Saturday morning. Made an offer on the spot. They had an open house scheduled for the next day and wanted to wait until then before accepting. We came back for the open house and it was packed. It was an exclusive listing so it wasn't even on MLS. Only on one of the many websites I checked daily. Needless to say they got a bunch of other offers and we got word we didn't get the house because of higher and stronger offers. We are strong buyers. Nothing to sell, more then 20% down, pre-approval in hand and offered almost asking!!
They came back later that night with a change of heart since they had met our family and had a connection with us.
Had I not gone to see it Saturday and gotten to meet them we would never have gotten the house.
Moral of the story, don't wait for the open house! Try to get in as soon as it's listed. Also don't just look on MLS. Check every site you can think of daily. I would have missed this house otherwise.
We had been looking for a long time before this and even in the weeks leading up to finding this house we saw the craziest amounts of people at open houses. We couldn't even get in the door at some! In all the time we looked we had never experienced anything like it.
As the others have said. Inventory is low and a huge pool of qualified buyers are waiting and ready to swoop in and bid. It's a great time to be on the selling end.
What other sites did you check? Realtor.com seems to be slower than mls on some houses but easy to search by newest
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| Posted 4/12/17 6:35 PM |
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ChilisWife
God Bless America
Member since 5/05 3572 total posts
Name:
A.K.
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Re: housing market- give me your opinion
We looked for awhile in Western Suffolk. I was amazed at how high prices were for homes that needed SO MUCH WORK! I kept saying, "why are there no GOOD houses for sale?" At the same time, my cousins were looking in a lower price range and got into a bidding war with every single offer they made. They lost a few houses but finally bought one. It needs a ton of work and honestly for the money they are spending on renovations they could have probably afforded a more expensive home!
In the end, the stress wasn't worth it and we decided to renovate our own home instead. Best decision we ever made.
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| Posted 4/12/17 8:12 PM |
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Re: housing market- give me your opinion
Posted by Mrs&MrsK
Posted by MerryChristmas
We are in contract now. Our house was listed on a Friday and we were the first in to see it Saturday morning. Made an offer on the spot. They had an open house scheduled for the next day and wanted to wait until then before accepting. We came back for the open house and it was packed. It was an exclusive listing so it wasn't even on MLS. Only on one of the many websites I checked daily. Needless to say they got a bunch of other offers and we got word we didn't get the house because of higher and stronger offers. We are strong buyers. Nothing to sell, more then 20% down, pre-approval in hand and offered almost asking!!
They came back later that night with a change of heart since they had met our family and had a connection with us.
Had I not gone to see it Saturday and gotten to meet them we would never have gotten the house.
Moral of the story, don't wait for the open house! Try to get in as soon as it's listed. Also don't just look on MLS. Check every site you can think of daily. I would have missed this house otherwise.
We had been looking for a long time before this and even in the weeks leading up to finding this house we saw the craziest amounts of people at open houses. We couldn't even get in the door at some! In all the time we looked we had never experienced anything like it.
As the others have said. Inventory is low and a huge pool of qualified buyers are waiting and ready to swoop in and bid. It's a great time to be on the selling end.
What other sites did you check? Realtor.com seems to be slower than mls on some houses but easy to search by newest
Our home was only listed on Trulia. I also check Zillow and Redfin..
Message edited 4/13/2017 5:32:39 PM.
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| Posted 4/12/17 9:10 PM |
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PennyCat
Just call me mommy :)
Member since 7/08 19084 total posts
Name:
Jib
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Re: housing market- give me your opinion
Posted by MerryChristmas
We are in contract now. Our house was listed on a Friday and we were the first in to see it Saturday morning. Made an offer on the spot. They had an open house scheduled for the next day and wanted to wait until then before accepting. We came back for the open house and it was packed. It was an exclusive listing so it wasn't even on MLS. Only on one of the many websites I checked daily. Needless to say they got a bunch of other offers and we got word we didn't get the house because of higher and stronger offers. We are strong buyers. Nothing to sell, more then 20% down, pre-approval in hand and offered almost asking!!
They came back later that night with a change of heart since they had met our family and had a connection with us.
Had I not gone to see it Saturday and gotten to meet them we would never have gotten the house.
Moral of the story, don't wait for the open house! Try to get in as soon as it's listed. Also don't just look on MLS. Check every site you can think of daily. I would have missed this house otherwise.
We had been looking for a long time before this and even in the weeks leading up to finding this house we saw the craziest amounts of people at open houses. We couldn't even get in the door at some! In all the time we looked we had never experienced anything like it.
As the others have said. Inventory is low and a huge pool of qualified buyers are waiting and ready to swoop in and bid. It's a great time to be on the selling end.
Wow that's a crazy story! I think a lot of it is about being in the right place at the right time. Congrats on getting the house!
The house I bought was like that too. Lots of foot traffic in and out the day I saw it which was the first day it went on the market. I made an offer that night along with a bunch of other people. Well, point of the story is, I'm sitting in that house as i type this. 
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| Posted 4/12/17 10:59 PM |
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Re: housing market- give me your opinion
Posted by PennyCat
Wow that's a crazy story! I think a lot of it is about being in the right place at the right time. Congrats on getting the house!
The house I bought was like that too. Lots of foot traffic in and out the day I saw it which was the first day it went on the market. I made an offer that night along with a bunch of other people. Well, point of the story is, I'm sitting in that house as i type this.
I couldn't agree with you more. Absolutely the right place at the right time and divine intervention. Thank you for the well wishes.
Congrats to you as well! When its meant to be its meant to be.
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| Posted 4/13/17 9:28 AM |
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Mrs&MrsK
i need sleep ;-)
Member since 2/14 2008 total posts
Name:
L
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Re: housing market- give me your opinion
Posted by MerryChristmas
Posted by PennyCat
Wow that's a crazy story! I think a lot of it is about being in the right place at the right time. Congrats on getting the house!
The house I bought was like that too. Lots of foot traffic in and out the day I saw it which was the first day it went on the market. I made an offer that night along with a bunch of other people. Well, point of the story is, I'm sitting in that house as i type this.
I couldn't agree with you more. Absolutely the right place at the right time and divine intervention. Thank you for the well wishes.
Congrats to you as well! When its meant to be its meant to be.
the scary part is trying to sell and doing so, then getting stuck looking for a new house on a competitive/increasing market and not get a house!
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| Posted 4/13/17 10:28 AM |
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Re: housing market- give me your opinion
Posted by Mrs&MrsK
the scary part is trying to sell and doing so, then getting stuck looking for a new house on a competitive/increasing market and not get a house!
Yep, timing is everything and no matter how much we tried so hard to work w/ timing - there was no way we were able to find a house and close on the sale of the old house and new house w/in a short time. What screwed us up big time was the fact that DH was stubborn and refused to drop his price when we initially listed in mid 2014 (since we were in a flood zone, our house sat on the market for more than a year! most of the offers were contractors wanting to buy it for $150K cash because our neighbors near the canal were wrecked by Sandy damage), then we were about to take it off the market in October 2015 when the offer came in, it was the closest to our asking price so we took it. We didn't expect the buyers wanting to close as early as Christmas and when the contract was signed around Thanksgiving, we had to push the closing date as far as late February 2016 because we still hadn't found a house!
And you can imagine how impossible it is to go house hunting in the middle of the holiday season. The inventory was crap. We had no choice but to shove our stuff into storage in February and hope new inventory started coming out in the spring. We moved into my parents' basement in Queens until we found our house and closed on it early May.
The whole process was crappy. I don't want to ever move again. 
Message edited 4/13/2017 10:45:14 AM.
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| Posted 4/13/17 10:40 AM |
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Mrs&MrsK
i need sleep ;-)
Member since 2/14 2008 total posts
Name:
L
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Re: housing market- give me your opinion
Posted by EclecticEsq10810
Posted by Mrs&MrsK
the scary part is trying to sell and doing so, then getting stuck looking for a new house on a competitive/increasing market and not get a house!
Yep, timing is everything and no matter how much we tried so hard to work w/ timing - there was no way we were able to find a house and close on the sale of the old house and purchase of the new one w/in a short time. What screwed up is big time was the fact that DH was stubborn and refused to drop his price when we initially listed in mid 2014 (since we were in a flood zone, our house sat on the market for more than a year!), then we were about to take it off the market in October 2015 when the offer came in, it was the closest to our asking price so we took it. We didn't expect the buyers wanting to close as early as Christmas and when the contract was signed around Thanksgiving, we had to push the closing date as far as late February 2016 because we still hadn't found a house!
And you can imagine how impossible it is to go house hunting in the middle of the holiday season. The inventory was crap. We had no choice but to shove our stuff into storage in February and hope new inventory started coming out in the spring. We moved into my parents' basement in Queens until we found our house and closed on it early May.
The whole process was crappy. I don't want to ever move again.
yeah and meanwhile interest rates are going up and house costs are going up. UGH. but if we wait on selling, we may not be able to get where we want to go.
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| Posted 4/13/17 10:43 AM |
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Re: housing market- give me your opinion
Posted by Mrs&MrsK
yeah and meanwhile interest rates are going up and house costs are going up. UGH. but if we wait on selling, we may not be able to get where we want to go.
Yes this is what motivated us to knock down our price in 2015 and sell as fast as we could. We initially wanted to sell in 2012 (it was DH's house before we met/married and much too small for both of us) but then Irene and Hurricane Sandy came and by 2013, we were doing renovations so no chance we could list until at least 2014 when the market started to show *some* promise in south shore towns.
I agree that its better to bite the bullet now and sell and move quickly - interest rates have already gone from mid 3s to mid 4s and one of my co-workers who is selling now and moving to Syosset/Woodbury is getting quotes in the 4.50-4.875% range. I can't believe there are bidding wars over homes that are I feel are not in great shape. The house that Christine mentioned up-thread that sold for $497,500 is close to where we are now - and comparing that house w/ ours, its shocking that it went that high considering we paid only a little over $500K for our house and its Gas heat, 1.5 car garage, at least 700 square feet larger and sits on a bigger lot. 
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| Posted 4/13/17 10:56 AM |
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NYCGirl80
I love my kiddies!
Member since 5/11 10413 total posts
Name:
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Re: housing market- give me your opinion
Posted by Mrs&MrsK
Posted by MerryChristmas
Posted by PennyCat
Wow that's a crazy story! I think a lot of it is about being in the right place at the right time. Congrats on getting the house!
The house I bought was like that too. Lots of foot traffic in and out the day I saw it which was the first day it went on the market. I made an offer that night along with a bunch of other people. Well, point of the story is, I'm sitting in that house as i type this.
I couldn't agree with you more. Absolutely the right place at the right time and divine intervention. Thank you for the well wishes.
Congrats to you as well! When its meant to be its meant to be.
the scary part is trying to sell and doing so, then getting stuck looking for a new house on a competitive/increasing market and not get a house!
I totally agree. We're planning on selling soon, just making some minor repairs, but the market sounds scary! I'm petrified we'll sell ours and then not be able to buy a house fast enough.
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| Posted 4/13/17 11:00 AM |
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LuckyStar
LIF Adult
Member since 7/14 7274 total posts
Name:
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Re: housing market- give me your opinion
Posted by Hofstra26
Posted by Mrs&MrsK
Posted by Hofstra26
Posted by DMT
It is bad. I saw a story on news12 over the last day or so that said there are bidding wars all over.
As someone who might be selling soon (and leaving NY) this makes me SO happy. After all the renos we did, overpaying for the house right before the market crashed and then being underwater for a few years I would welcome multiple good offers on my house.
My house is move in ready, everything updated, so I hope I get lucky and get a great price. Bid away LI, bid away!
this is how i feel except we just want to move to a different town.
the first real estate agent i had come by said that if we were moving out of state she would say list IMMEDIATELY bc houses are going up much faster in other states than here.
But that because we were iffy & moving just for schools, we should research more before jumping in.
I'd be less inclined to sell if we were trying to stay on the island, especially in this market. I'm sure the market varies depending on where you live, some areas are more stagnant that others, some fluctuate a lot more like here on the island. Hoping on the other side of things, as a buyer, we have good luck!
Me too. We're not ready to move this second, but if LI is going up so much faster than other parts of the tri-state area, I'll sell this place tomorrow and never look back.
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| Posted 4/13/17 9:29 PM |
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Hofstra26
Love to Bake!
Member since 7/06 27915 total posts
Name:
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Re: housing market- give me your opinion
Posted by LuckyStar
Posted by Hofstra26
Posted by Mrs&MrsK
Posted by Hofstra26
Posted by DMT
It is bad. I saw a story on news12 over the last day or so that said there are bidding wars all over.
As someone who might be selling soon (and leaving NY) this makes me SO happy. After all the renos we did, overpaying for the house right before the market crashed and then being underwater for a few years I would welcome multiple good offers on my house.
My house is move in ready, everything updated, so I hope I get lucky and get a great price. Bid away LI, bid away!
this is how i feel except we just want to move to a different town.
the first real estate agent i had come by said that if we were moving out of state she would say list IMMEDIATELY bc houses are going up much faster in other states than here.
But that because we were iffy & moving just for schools, we should research more before jumping in.
I'd be less inclined to sell if we were trying to stay on the island, especially in this market. I'm sure the market varies depending on where you live, some areas are more stagnant that others, some fluctuate a lot more like here on the island. Hoping on the other side of things, as a buyer, we have good luck!
Me too. We're not ready to move this second, but if LI is going up so much faster than other parts of the tri-state area, I'll sell this place tomorrow and never look back.
I always feel like LI is a whole beast unto itself. lol Where we are looking to move, I'm not seeing crazy jumps in home prices or a complete lack of inventory like what is going on here right now. Fingers crossed.
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| Posted 4/14/17 8:58 AM |
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KateBennetReel
LIF Adolescent
Member since 10/15 555 total posts
Name:
Keep
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Re: housing market- give me your opinion
Posted by LuckyStar
Posted by Christine Braun - Century 21 American Homes
Just to give a couple of examples - I had a closing on Friday. It was a house I listed back in January in N. Bellmore. It was an updated (new kitchen, new CAC) ranch that was only about 1280 square feet. 3 beds, 2 bath (but no master bath, second bath was in the basement). Average size property. Had multiple offers (like 12 solid, good offers) within the first 4 days of being listed. It sold for $497,500.
Just last weekend, a cape came on the market in N. Merrick (N. Bellmore schools). A regular cape - not expanded/extended (it did have a partial rear dormer with a second bath upstairs). It was in renovated condition. Listed at $519K. My buyers, who are highly qualified with nothing to sell and more than 20% to put down, offered $525K. Someone offered higher. On a cape that is like 1200 square feet!
::slaps for sale sign on door::
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| Posted 4/15/17 8:03 AM |
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summertime
LIF Adolescent
Member since 9/10 852 total posts
Name:
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Re: housing market- give me your opinion
It doesn't seem like the 1mil plus houses are going that fast.
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| Posted 4/17/17 2:41 PM |
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luvbuffet
LIF Adult
Member since 7/10 6470 total posts
Name:
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Re: housing market- give me your opinion
Posted by summertime
It doesn't seem like the 1mil plus houses are going that fast.
Depends on location. 1mil+ might take an extra week vs 8 offers after an open house. There's a house for 1.2 mil in bellerose village. I spit out my water when I saw the listing. Good luck buddy! That house will NOT sell for anywhere near ask, let alone come off the market quickly. Really depends on location and if the house is priced right.
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| Posted 4/17/17 5:32 PM |
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Eireann
Two ladies and a gentleman!
Member since 5/05 12165 total posts
Name:
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Re: housing market- give me your opinion
Posted by summertime
It doesn't seem like the 1mil plus houses are going that fast.
Except in my neighborhood...this is common. It's out of control! My next door neighbor sold the house in five days 1.3 mil. 
ETA...I should add that this is in Queens.
Message edited 4/17/2017 6:53:37 PM.
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| Posted 4/17/17 6:46 PM |
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MissJones
I need a nap!
Member since 5/05 22136 total posts
Name:
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Re: housing market- give me your opinion
Posted by Eireann
Posted by summertime
It doesn't seem like the 1mil plus houses are going that fast.
Except in my neighborhood...this is common. It's out of control! My next door neighbor sold the house in five days 1.3 mil.
ETA...I should add that this is in Queens.
Queens is another ball of wax! Crazy what houses are going for. Then they added knocked down!!!
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| Posted 4/17/17 8:58 PM |
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Funkybutt
LIF Adult
Member since 4/15 3049 total posts
Name:
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housing market- give me your opinion
We moved to LI in 2014 and looked at over 30 houses before we finally found one we liked. It's amazing to me how people put their houses on the market in such disgusting condition. Some houses I felt like I had to wash my hands when I left.
We just sold our house (was on the market in February). We had 12 offers 2 days after our open house and ended up taking the offer that was $24k over asking.
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| Posted 4/18/17 8:38 AM |
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Hofstra26
Love to Bake!
Member since 7/06 27915 total posts
Name:
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Re: housing market- give me your opinion
Posted by Funkybutt
We moved to LI in 2014 and looked at over 30 houses before we finally found one we liked. It's amazing to me how people put their houses on the market in such disgusting condition. Some houses I felt like I had to wash my hands when I left.
We just sold our house (was on the market in February). We had 12 offers 2 days after our open house and ended up taking the offer that was $24k over asking.
That is CRAZY!!!! I am hoping for luck as good as yours!  $24K over asking sounds amazing to me! 
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| Posted 4/18/17 8:40 AM |
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Funkybutt
LIF Adult
Member since 4/15 3049 total posts
Name:
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Re: housing market- give me your opinion
Posted by Hofstra26
Posted by Funkybutt
We moved to LI in 2014 and looked at over 30 houses before we finally found one we liked. It's amazing to me how people put their houses on the market in such disgusting condition. Some houses I felt like I had to wash my hands when I left.
We just sold our house (was on the market in February). We had 12 offers 2 days after our open house and ended up taking the offer that was $24k over asking.
That is CRAZY!!!! I am hoping for luck as good as yours! $24K over asking sounds amazing to me!
I highly recommend clearing out as much as possible and staging it properly! A realtor thought no one was living in our house bc we had stored 60% of our stuff. :)
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| Posted 4/18/17 10:17 AM |
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Hofstra26
Love to Bake!
Member since 7/06 27915 total posts
Name:
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Re: housing market- give me your opinion
Posted by Funkybutt
Posted by Hofstra26
Posted by Funkybutt
We moved to LI in 2014 and looked at over 30 houses before we finally found one we liked. It's amazing to me how people put their houses on the market in such disgusting condition. Some houses I felt like I had to wash my hands when I left.
We just sold our house (was on the market in February). We had 12 offers 2 days after our open house and ended up taking the offer that was $24k over asking.
That is CRAZY!!!! I am hoping for luck as good as yours! $24K over asking sounds amazing to me!
I highly recommend clearing out as much as possible and staging it properly! A realtor thought no one was living in our house bc we had stored 60% of our stuff. :)
We've started doing this already in preparation. We also have a very clean and organized house in general though, we're not big savers or collectors of things. We had a realtor in for an appraisal and she said she could've listed the house that minute because it already showed beautifully. I was glad to hear it, less for us to do later to prepare.
A lot of the houses in my area still have older folks living in them (original owners) so it's harder to find a move in ready home if you really want to be in Stony Brook. I am hoping that really works in our favor once the house is on the market. I REALLY hope there is a lot of interest, a few offers and we're in contract fairly quickly so that we can move feeling relaxed and without the stress of wondering when the house will sell.
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| Posted 4/18/17 11:54 AM |
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