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SweetestOfPeas
J'taime Paris!
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Random Q about home conditions on LI vs. anywhere else
DH and I have been looking at houses for WELL over a year, both on LI and OOS. we have noticed a trend regarding houses OOS (including CT and down south). for the most part, 99.8%, homes outside the NY area are SO WELL maintained and updated. even much older homes in CT that we saw were gorgeous inside, a far cry from what we have seen in our price range on LI.
my Q is, why do you think that is?  my opinion is that people in these other areas have more disposable income and put some of that extra $ into their homes. I would love to hear your thoughts.
Message edited 2/25/2007 11:39:27 AM.
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Posted 2/25/07 11:39 AM  |
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smdl
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Re: Random Q about home conditions on LI vs. anywhere else
Well, there is no much land left in Nassau. So the houses are old.
I lived in the South. Houses are newer.
It's also a different market. Here you can sell an old house for a lot of $$ and someone will buy it. It's all about supply and demand. There is so much land in the South that everyone competes to get a buyer/renter (house, apartment, etc..)
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| Posted 2/25/07 11:42 AM |
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SweetestOfPeas
J'taime Paris!
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Re: Random Q about home conditions on LI vs. anywhere else
Posted by smdl
Well, there is no much land left in Nassau. So the houses are old.
I lived in the South. Houses are newer.
It's also a different market. Here you can sell an old house for a lot of $$ and someone will buy it. It's all about supply and demand. There is so much land in the South that everyone competes to get a buyer/renter (house, apartment, etc..)
right - houses here are older. but like I said, we saw much older houses in CT (early 1900's) that were completely updated inside and the electric and plumbing as well.
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| Posted 2/25/07 11:47 AM |
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tate16t
LIF Zygote
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Re: Random Q about home conditions on LI vs. anywhere else
No disrespect to people here on LI but I think it's related to the class of people.
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| Posted 2/25/07 11:57 AM |
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Gertyrae
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Gerty ®
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Re: Random Q about home conditions on LI vs. anywhere else
I'm not sure that it's about more dispensable income, NY has one of the highest ratios of dispensable incomes in the country.
My opinion is that there are more homes per square mile on LI and the incomes vary widely as opposed to places like CT or down south. If you go out of this area, most areas are either fairly wealthy or fairly poor, there's not a lot of mixed neighborhoods. That's not so true on LI, where there are towns like Locust Valley (extremely wealthy) next to Glen Cove or Bayville (very mixed)...so you have more diversification and a wider range in the condition of homes.
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| Posted 2/25/07 11:58 AM |
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SweetestOfPeas
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Re: Random Q about home conditions on LI vs. anywhere else
Posted by tate16t
No disrespect to people here on LI but I think it's related to the class of people.
I honestly do not think it has anything to do with class. I think it's more of a money issue. if you have a limited amount of disposable income, you're not going to use it to fix up your house. IMO
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| Posted 2/25/07 12:07 PM |
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Gertyrae
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Re: Random Q about home conditions on LI vs. anywhere else
Posted by tate16t
No disrespect to people here on LI but I think it's related to the class of people.
How is it related to the class of people?
You are saying that better classes of people live in other places?
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| Posted 2/25/07 12:09 PM |
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SweetestOfPeas
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Re: Random Q about home conditions on LI vs. anywhere else
Posted by Gertyrae
I'm not sure that it's about more dispensable income, NY has one of the highest ratios of dispensable incomes in the country.
My opinion is that there are more homes per square mile on LI and the incomes vary widely as opposed to places like CT or down south. If you go out of this area, most areas are either fairly wealthy or fairly poor, there's not a lot of mixed neighborhoods. That's not so true on LI, where there are towns like Locust Valley (extremely wealthy) next to Glen Cove or Bayville (very mixed)...so you have more diversification and a wider range in the condition of homes.
the data that I have seen on a few websites regarding disposable income shows that it's a LOT higher per capita down south in the areas DH and I have looked at.
ETA: sorry, I made a mistake. the amount of income per capita was higher in areas we have looked at down south.
Message edited 2/25/2007 12:12:24 PM.
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| Posted 2/25/07 12:09 PM |
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Re: Random Q about home conditions on LI vs. anywhere else
IMO, demand on LI and in the NY metro area overall is higher. So people know that they can sell a house that's in less than pristine condition. If someone's going to spend top dollar on a house in marginal shape, why put more money into it?
This was our experience anyway; granted, the people who sold us our house could have gotten more if they'd done some improvements, but they were going to make a killing no matter what. So why put in the effort? Plus, they also didn't want to price themselves out of the neighborhood.
ETA: Just wanted to clarify that we're not on LI but still in the metro NY area.
Message edited 2/25/2007 12:14:46 PM.
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| Posted 2/25/07 12:14 PM |
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lorich
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Re: Random Q about home conditions on LI vs. anywhere else
Posted by MrsProfessor
IMO, demand on LI and in the NY metro area overall is higher. So people know that they can sell a house that's in less than pristine condition. If someone's going to spend top dollar on a house in marginal shape, why put more money into it?
This was our experience anyway; granted, the people who sold us our house could have gotten more if they'd done some improvements, but they were going to make a killing no matter what. So why put in the effort? Plus, they also didn't want to price themselves out of the neighborhood.
ETA: Just wanted to clarify that we're not on LI but still in the metro NY area.
I definitely agree with this.
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| Posted 2/25/07 12:17 PM |
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SweetestOfPeas
J'taime Paris!
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Re: Random Q about home conditions on LI vs. anywhere else
Posted by MrsProfessor
IMO, demand on LI and in the NY metro area overall is higher. So people know that they can sell a house that's in less than pristine condition. If someone's going to spend top dollar on a house in marginal shape, why put more money into it?
This was our experience anyway; granted, the people who sold us our house could have gotten more if they'd done some improvements, but they were going to make a killing no matter what. So why put in the effort? Plus, they also didn't want to price themselves out of the neighborhood.
ETA: Just wanted to clarify that we're not on LI but still in the metro NY area.
why put in the effort? how about because these people are living in pig sties. sorry, but the filth that we have seen... i can't believe ANYONE would want to live that way. forget about building equity, it's just disgusting!
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| Posted 2/25/07 12:18 PM |
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Gertyrae
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Re: Random Q about home conditions on LI vs. anywhere else
Posted by SweetestOfPeas
the data that I have seen on a few websites regarding disposable income shows that it's a LOT higher per capita down south in the areas DH and I have looked at.
ETA: sorry, I made a mistake. the amount of income per capita was higher in areas we have looked at down south.
That is probably true...what I'm saying is that there is more diversification on LI. Neighborhoods on LI tend to be either very wealthy or middle class...so although the numbers are the same or lower, you have people making millions in a neighborhood next to people making thousands.
If you look at the per capita income of a town like Levittown, it will say something like each family makes about $80,000 per year. In reality, there are some who are older and don't have nearly that much income and others who are making $250K/year. Obviously the ones with more money are updating their homes whereas those who are living on lower incomes are just paying the bills.
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| Posted 2/25/07 12:18 PM |
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tate16t
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Re: Random Q about home conditions on LI vs. anywhere else
Posted by SweetestOfPeas
Posted by tate16t
No disrespect to people here on LI but I think it's related to the class of people.
I honestly do not think it has anything to do with class. I think it's more of a money issue. if you have a limited amount of disposable income, you're not going to use it to fix up your house. IMO
Right, this essentially translates to the class of people. I'm not comparing those that live on LI to everywhere else but rather to CT as the original post stated. CT has a lot of wealthy people who can afford to maintain/fix up homes. LI has larger more diversted neighborhoods.
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| Posted 2/25/07 12:21 PM |
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Gertyrae
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Gerty ®
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Re: Random Q about home conditions on LI vs. anywhere else
It also depends on the price range you are looking at. I think you have posted about this before, regarding the pigsties.
If you are looking at homes in the 250 to 300K price range you are going to see a lot more krap than if you are looking at homes in the 400 to 500K price range. Lower priced homes are in lower income neighborhoods and vice versa. Land itself is worth a whole lot more on LI cuz there isn't anywhere left to build. There is plenty of land in CT or down south so it's not worth as much.
Eg: We paid 300K for our home - the land is valued at 125K and our homeowner is for 175K. My friend lives in NC and her land is only valued at $50K...and her property is about the same size, actually bigger.
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| Posted 2/25/07 12:22 PM |
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2PreciousBlessings
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Re: Random Q about home conditions on LI vs. anywhere else
Posted by SweetestOfPeas
Posted by tate16t
No disrespect to people here on LI but I think it's related to the class of people.
I honestly do not think it has anything to do with class. I think it's more of a money issue. if you have a limited amount of disposable income, you're not going to use it to fix up your house. IMO
I so agree with this. Not alot of people can afford to alot especially after paying most of their bills monthly.
Message edited 2/25/2007 12:24:25 PM.
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| Posted 2/25/07 12:23 PM |
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lorich
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Grammie says "Lora Gina"
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Re: Random Q about home conditions on LI vs. anywhere else
Posted by SweetestOfPeas
Posted by MrsProfessor
IMO, demand on LI and in the NY metro area overall is higher. So people know that they can sell a house that's in less than pristine condition. If someone's going to spend top dollar on a house in marginal shape, why put more money into it?
This was our experience anyway; granted, the people who sold us our house could have gotten more if they'd done some improvements, but they were going to make a killing no matter what. So why put in the effort? Plus, they also didn't want to price themselves out of the neighborhood.
ETA: Just wanted to clarify that we're not on LI but still in the metro NY area.
why put in the effort? how about because these people are living in pig sties. sorry, but the filth that we have seen... i can't believe ANYONE would want to live that way. forget about building equity, it's just disgusting!
See...but that's the thing...it WILL still sell. There's someone out there to buy anything... It may take longer to sell, but it will sell - whether it's a contractor for a flip or another family...
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| Posted 2/25/07 12:26 PM |
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SweetestOfPeas
J'taime Paris!
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Re: Random Q about home conditions on LI vs. anywhere else
Posted by Gertyrae
It also depends on the price range you are looking at. I think you have posted about this before, regarding the pigsties.
If you are looking at homes in the 250 to 300K price range you are going to see a lot more krap than if you are looking at homes in the 400 to 500K price range. Lower priced homes are in lower income neighborhoods and vice versa. Land itself is worth a whole lot more on LI cuz there isn't anywhere left to build. There is plenty of land in CT or down south so it's not worth as much.
Eg: We paid 300K for our home - the land is valued at 125K and our homeowner is for 175K. My friend lives in NC and her land is only valued at $50K...and her property is about the same size, actually bigger.
we've looked (on LI but not recently) at houses over $400K. that is not by ANY MEANS a low price for a home.
Message edited 2/25/2007 12:30:42 PM.
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| Posted 2/25/07 12:30 PM |
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smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
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me
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Re: Random Q about home conditions on LI vs. anywhere else
I lived both in NC and LI.
As previously stated, this is a totally different market.
There are not enough housing in NYC, metro, LI area to support all the people who want to live here. So, prices for "dumps" are much higher than in other parts of the country. Again it's all about supply and demand. Then once you buy a house here on LI, you may have to rent a portion of you house just to pay for the taxes. So, no money for remodeling. Then if you can remodel, you may not be able to sell the remodeled house since it would be higher than the rest of the market. So, while a remodeled house is good it's not always financially advantageous in some neighborhoods.
But this is not JUST NY. It's also the case in CA which is actually even worst because the incomes are lowers than in NY with housing prices equivalent or more to NY.
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| Posted 2/25/07 12:31 PM |
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SweetestOfPeas
J'taime Paris!
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Re: Random Q about home conditions on LI vs. anywhere else
Posted by lorich
Posted by SweetestOfPeas
Posted by MrsProfessor
IMO, demand on LI and in the NY metro area overall is higher. So people know that they can sell a house that's in less than pristine condition. If someone's going to spend top dollar on a house in marginal shape, why put more money into it?
This was our experience anyway; granted, the people who sold us our house could have gotten more if they'd done some improvements, but they were going to make a killing no matter what. So why put in the effort? Plus, they also didn't want to price themselves out of the neighborhood.
ETA: Just wanted to clarify that we're not on LI but still in the metro NY area.
why put in the effort? how about because these people are living in pig sties. sorry, but the filth that we have seen... i can't believe ANYONE would want to live that way. forget about building equity, it's just disgusting!
See...but that's the thing...it WILL still sell. There's someone out there to buy anything... It may take longer to sell, but it will sell - whether it's a contractor for a flip or another family...
yes, it will sell.
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| Posted 2/25/07 12:31 PM |
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Re: Random Q about home conditions on LI vs. anywhere else
Posted by SweetestOfPeas
why put in the effort? how about because these people are living in pig sties. sorry, but the filth that we have seen... i can't believe ANYONE would want to live that way. forget about building equity, it's just disgusting!
I didn't realize you were talking about filthy conditions (sorry if I misread the initial post)  I thought you were talking about basic maintenance, peeling paint, etc. That's a different story, but again, some people just don't care if they live that way.
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| Posted 2/25/07 12:32 PM |
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SweetestOfPeas
J'taime Paris!
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Re: Random Q about home conditions on LI vs. anywhere else
this is the link where I got the data from.. just wanted to share as an example
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| Posted 2/25/07 12:37 PM |
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lululu
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Re: Random Q about home conditions on LI vs. anywhere else
I'm not sure what this is an example of.... If you compare my town to this the disposable income is much much higher than Cary. I dont think you could say Holbrook represents LI as a whole.
Also, I didnt have the same experience that you had when looking for a home on Long Island. The only home we saw that wasn't well maintained was selling at a bargain price because it was an elderly couple who hadnt done any work to the house in years. Still, it wasnt dirty, just very very outdated.
I think it might also have to do with the towns that you are looking in. Holbrook is a nice town now but it hasnt always been an up and coming town.... Nor have a lot of towns in further east suffolk. Places like Centereach, Mastic, Ridge, Shirley - people have just started to see the opportunities there in the past 10 - 15 years.
I just dont think that the comparison is apples to oranges.....
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| Posted 2/25/07 12:51 PM |
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Beth
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Re: Random Q about home conditions on LI vs. anywhere else
great link- thanks
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| Posted 2/25/07 1:02 PM |
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SweetestOfPeas
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Re: Random Q about home conditions on LI vs. anywhere else
Posted by lululu
I'm not sure what this is an example of.... If you compare my town to this the disposable income is much much higher than Cary. I dont think you could say Holbrook represents LI as a whole.
Also, I didnt have the same experience that you had when looking for a home on Long Island. The only home we saw that wasn't well maintained was selling at a bargain price because it was an elderly couple who hadnt done any work to the house in years. Still, it wasnt dirty, just very very outdated.
I think it might also have to do with the towns that you are looking in. Holbrook is a nice town now but it hasnt always been an up and coming town.... Nor have a lot of towns in further east suffolk. Places like Centereach, Mastic, Ridge, Shirley - people have just started to see the opportunities there in the past 10 - 15 years.
I just dont think that the comparison is apples to oranges.....
correct me if I am wrong but don't you live in Great Neck or in that area? if that is that case, you obviously had a lot more money to spend on a house than people like me. and while Holbrook isn't an "up an coming area", $400K for a filth riddled house is just ridiculous. we saw houses in CT that were WAY below that price and were older homes that were beautifully maintained.
this thread was pointing out a trend that I have noticed about the condition of homes in this area. that's all.
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| Posted 2/25/07 1:20 PM |
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Gertyrae
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Member since 5/05 20046 total posts
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Gerty ®
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Re: Random Q about home conditions on LI vs. anywhere else
Okay...so apparently you just want to complain about the condition of homes in this area - it wasn't a question after all.
And, if you look at the link that you posted, for the areas you requested, the median household income is higher in NY and so it the disposable income (as I had said). So, your theory about people having more disposable income in these other areas is moot.
If you think the houses you looked at here are gross and filthy and the ones in CT. are beautiful, buy in CT.
End of story.
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| Posted 2/25/07 1:26 PM |
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