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Samson7256
LIF Infant
Member since 5/06 93 total posts
Name:
John
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LIHP -Newsday Article - Real Estate Market Shrinks on Long Island
Newsday today printed an article about the current state of the Long Island housing market and Lynn Law from LIHP was quoted as saying "Right now first-time home buyers are in the best spot. Said Lynn Law, of the Long Island Housing Partnership: "We have value out there that we haven't seen in probably nine years."
How on earth can anyone say that the market has value not seen in nine years. There is no way todays prices (even after being adjusted for inflation) are anywhere near 1999 prices. Sometimes I have to wonder if they have some hidden agendas when making quotes like that....seems to me that even though they are a non profit organization, the more people they push through their offices, the better off the organization and the employees are, which makes it hard to believe that the organization can be 100% objective in offering guidance to future homebuyers.
Real estate market shrinks on Long Island
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Posted 9/9/08 11:53 AM  |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: LIHP -Newsday Article - Real Estate Market Shrinks on Long Island
yep, thats laughable! no wear near 1999 prices. and we will never be at 1999 prices.
Newsday has their own spin too - we are down 26,000 units compared to 2005 - THE PEAK. how many units are we down from 2006-2007?
or compared to a pre-boom year?
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| Posted 9/9/08 12:11 PM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: LIHP -Newsday Article - Real Estate Market Shrinks on Long Island
Nassau Sales by District
Suffolk Sales by District
Some of these numbers are quite surprising. I'll only comment on Nassau since I am not too familiar with Suffolk.
Some towns in Nassau are really saving the county as a whole, showing next to no declines in sales numbers. Bethpage, Bellmore (not north), and even Westbury are all holding their own.
I am surprised at the steep drop in Lynbrook (did this area get overvalued and now taking on a correction?). Strange because Valley Stream 24 is doing well.
Another thing I don't understand is the variation of the "upper middle class areas". Towns like Oyster Bay and Rockville Center have taken real hits. But other towns like Glen Cove, Port Washington, and Floral Park have done well. What's the difference?
Interesting.
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| Posted 9/9/08 12:18 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: LIHP -Newsday Article - Real Estate Market Shrinks on Long Island
Read it for the intrinsic value. It's value not prices.
It's actually saying that LI as a whole has withstood a downturn in the market and kept it's value.
At least, that's what I'm getting out of it.
Even though certain areas had declines, as a whole the market has retained a good part of it's value.
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| Posted 9/9/08 12:27 PM |
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MetsGirl07
LIF O2 Vendor
Member since 12/07 16202 total posts
Name:
Deanna
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Re: LIHP -Newsday Article - Real Estate Market Shrinks on Long Island
ughhh.. i read this in the morning... we can not sell the house for nothing 
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| Posted 9/9/08 12:42 PM |
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MrsD06
LIF Toddler
Member since 9/07 478 total posts
Name:
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Re: LIHP -Newsday Article - Real Estate Market Shrinks on Long Island
Posted by Blu-ize
Read it for the intrinsic value. It's value not prices.
yup..they're not talking about 1999 prices...just that the value of homes on the market now compared to their price is very good. This is an example of why you need more info than median selling price to see the big picture.
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| Posted 9/9/08 6:48 PM |
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rkoenke
my little piggys
Member since 3/08 4315 total posts
Name:
rachel
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Re: LIHP -Newsday Article - Real Estate Market Shrinks on Long Island
Posted by MetsGirl07
ughhh.. i read this in the morning... we can not sell the house for nothing
Wait? i thought that you had an offer?
what happened?
I am trying to sell too, and am very concerned that i won't ever succeed!
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| Posted 9/10/08 8:30 AM |
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