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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: Random Q about home conditions on LI vs. anywhere else
Posted by Nicole728
Posted by Meaghan729
actually, according to that site I posted earlier, the median price of a home in Holbrook is $325k, only $75k more than Cary.
unless they are factoring in townhomes, $325K for the median house price sounds low to me.
and flip this house is on - they are flipping in TEXAS - and the house is disgusting - because its been vacant - i also don't think you see a lot of vacant homes here. (like 5 yrs + vacant) , where in cheaper areas you do.
We are watching that too 
I had to take MIke home I missed the end - how did it turn out??
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Posted 2/25/07 5:21 PM  |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: Random Q about home conditions on LI vs. anywhere else
I think we are also forgetting the three rules of real estate:
LOCATION
LOCATION
LOCATION
it doesnt cost a lot to build a house - its the land on LI (since there is not much empty land left) that makes it expensive.
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| Posted 2/25/07 5:23 PM |
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Nicole728
My Happy Girl
Member since 7/06 8198 total posts
Name:
Me
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Re: Random Q about home conditions on LI vs. anywhere else
Posted by Meaghan729
Posted by Nicole728
Posted by Meaghan729
actually, according to that site I posted earlier, the median price of a home in Holbrook is $325k, only $75k more than Cary.
unless they are factoring in townhomes, $325K for the median house price sounds low to me.
and flip this house is on - they are flipping in TEXAS - and the house is disgusting - because its been vacant - i also don't think you see a lot of vacant homes here. (like 5 yrs + vacant) , where in cheaper areas you do.
We are watching that too
I had to take MIke home I missed the end - how did it turn out??
it turned out nice....did you just watch the last one with the guy who flipped the 1.4 million house in CA...it was amazing...and now he is going to sell it for over 2 to make an estimated profit of 1/2 mil??? 
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| Posted 2/25/07 5:41 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: Random Q about home conditions on LI vs. anywhere else
Posted by Nicole728
Posted by Meaghan729
Posted by Nicole728
Posted by Meaghan729
actually, according to that site I posted earlier, the median price of a home in Holbrook is $325k, only $75k more than Cary.
unless they are factoring in townhomes, $325K for the median house price sounds low to me.
and flip this house is on - they are flipping in TEXAS - and the house is disgusting - because its been vacant - i also don't think you see a lot of vacant homes here. (like 5 yrs + vacant) , where in cheaper areas you do.
We are watching that too
I had to take MIke home I missed the end - how did it turn out??
it turned out nice....did you just watch the last one with the guy who flipped the 1.4 million house in CA...it was amazing...and now he is going to sell it for over 2 to make an estimated profit of 1/2 mil???
theres the key - "estimated" profits - id love to see them do a follow up to see how much these people really make
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| Posted 2/25/07 5:43 PM |
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Nicole728
My Happy Girl
Member since 7/06 8198 total posts
Name:
Me
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Re: Random Q about home conditions on LI vs. anywhere else
Posted by Meaghan729
Posted by Nicole728
Posted by Meaghan729
Posted by Nicole728
Posted by Meaghan729
actually, according to that site I posted earlier, the median price of a home in Holbrook is $325k, only $75k more than Cary.
unless they are factoring in townhomes, $325K for the median house price sounds low to me.
and flip this house is on - they are flipping in TEXAS - and the house is disgusting - because its been vacant - i also don't think you see a lot of vacant homes here. (like 5 yrs + vacant) , where in cheaper areas you do.
We are watching that too
I had to take MIke home I missed the end - how did it turn out??
it turned out nice....did you just watch the last one with the guy who flipped the 1.4 million house in CA...it was amazing...and now he is going to sell it for over 2 to make an estimated profit of 1/2 mil???
theres the key - "estimated" profits - id love to see them do a follow up to see how much these people really make
yeah that is the key! Yesterday they actually had an "update" show...but it was on a lady who did a flip two years ago...but she did make a ton of money off her flip
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| Posted 2/25/07 5:45 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: Random Q about home conditions on LI vs. anywhere else
Posted by Nicole728
Posted by Meaghan729
Posted by Nicole728
Posted by Meaghan729
Posted by Nicole728
Posted by Meaghan729
actually, according to that site I posted earlier, the median price of a home in Holbrook is $325k, only $75k more than Cary.
unless they are factoring in townhomes, $325K for the median house price sounds low to me.
and flip this house is on - they are flipping in TEXAS - and the house is disgusting - because its been vacant - i also don't think you see a lot of vacant homes here. (like 5 yrs + vacant) , where in cheaper areas you do.
We are watching that too
I had to take MIke home I missed the end - how did it turn out??
it turned out nice....did you just watch the last one with the guy who flipped the 1.4 million house in CA...it was amazing...and now he is going to sell it for over 2 to make an estimated profit of 1/2 mil???
theres the key - "estimated" profits - id love to see them do a follow up to see how much these people really make
yeah that is the key! Yesterday they actually had an "update" show...but it was on a lady who did a flip two years ago...but she did make a ton of money off her flip
damn i'll have to TIVO it for next time
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| Posted 2/25/07 5:56 PM |
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veeandrich
LIF Infant
Member since 5/06 325 total posts
Name:
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Re: Random Q about home conditions on LI vs. anywhere else
Property tax (increases constantly) , homeowners ins. , car ins., and huge mortgages on Long Island leave very little disposable income for the average LI family. People are spending 1200 + on daycare for one child as well. The cost of living here is so high. While several of my friends have moved to NC doing the same thing I do for a living (Charlotte area) and make more money. Their mortgages are the same for a large home, That I am paying for a coop.
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| Posted 2/25/07 6:06 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: Random Q about home conditions on LI vs. anywhere else
Posted by Gertyrae
Posted by KellyFG
Lots of good points being made here, but I also want to say that I search out houses that are disgusting & unkempt & another factor that hasn't been mentioned is they are often long time rental properties.
Another aspect that is a personal favorite of mine is "on the balls of their a$$" situation, they are behind on bills-getting desperate, house is a mess, too stressed to get it together, no equity left to re-fi before foreclosure notices start coming.
Two excellent points...especially the rental factor. Although, I do think that the sellers have problems getting the renters out and end up putting the house up for sale to get rid of the "baggage".
agreed about the rental situation. We saw a lot of this 5-6 years ago. The homes were in a bad state. They were priced accordingly though. BTW-that was still a ton of money back then. We were earning 30-40% less than we do now.
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| Posted 2/25/07 6:22 PM |
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MrsT
Enjoying wedded bliss.....
Member since 4/06 1323 total posts
Name:
Katrina
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Re: Random Q about home conditions on LI vs. anywhere else
Posted by SweetestOfPeas
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.
Because many people live from check to check - home owners and renters alike. That means no money for renovations.
Older homes in CT are not the same price as the older homes in NYC/LI and the taxes are FAR less.
We are moving out of state and I found no houses on mlsli that are comparable to ours.....at least nothing in a reasonable price range with similar features + community ammenities.
The best I found on realtor.com is a 60% match to the search criteria.
60% match - Jericho house
It has similar acreage and 4 baths (we have 3.5). The sq footage of the house is not listed so I cannot compare that but there are no community features to mention since it's apparently not in a gated community.
We want to have a child and in this area daycare is like $1200 per month  A friend moved to Peeksill and uses the DISCOUNTED daycare at her job and it's still like $1,000 a month.  Another friend recently had twins and she had to hire a nanny (she and her husband work outside the home) and that is costing them .
I know people who live in PA and work in NYC. It's doable but I am not interested in the commute (2 hours on Rt 80 by car or take a bus). Huge new homes in PA can be had for $369K and maybe less  We saw a few in Cresco, PA that are under construction - $349K - $369K.
There is no way we could afford to live in NYC/LI the way I want to live (and what I think would be fair to our would-be child) unless we hit lotto or something. For the type of house I'd want (and in a good school district) that means moving from Brooklyn to Long Island and carrying a crazy expensive mortgage & probably NEVER renovating.
We do not want to work just to pay the mortgage. Some people do it and they are fine with being "house poor" but I'd rather have disposable income.
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| Posted 2/26/07 12:33 AM |
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Re: Random Q about home conditions on LI vs. anywhere else
I am also wondering if the age of the sellers has anything to do with the lack of renovations on some houses. Some old people never change anything. On the other hand, we bought our house from an older couple and the kitchens and bath were only about 5 yrs old, with great quality stuff.
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| Posted 2/26/07 1:19 AM |
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