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Ang-Rich
Beyond Compare
Member since 5/05 17988 total posts
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Re: Time for a new RE agent?
The RE prices in NY, LI more specifically, have gotten so out of hand that I think we all find ourselves in a strange new situation. Sellers have been seeing homes - even handyman specials - sell for unbelievable amounts and so they place their expections behind that. In the meanwhile, the market is shifting, taxes are getting out of hand, and the demand is slowing down. Many who put their homes up just recently have the old mentality in the new market and the two just don't mesh. So regardless of whether or not insultting offers are ridiculous, I agree with Diana1215 that it's still happening. However, those sellers who are insulted will learn the hard way.
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Posted 6/16/06 12:32 PM  |
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Prudential Douglas Elliman Real Estate
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: Time for a new RE agent?
Posted by Diana1215
I know. It really is so depressing. I was in North Carolina last weekend and my aunt and uncle have an amazing house on a beautiful court in Chapel Hill. If they sold their house today they could get $400K. THat is MUCH less than I bought my house for. 
Makes me so angry.
My aunt and uncle also live in NC - Asheville area. they're house is 4000 sq feet and all red brick. it's about 10 yrs old and sits on an acre overlooking mountains and a golf course  they have 5 bedrooms, 4 bathrooms and a completely finished basement with a kitchen, bathroom, living room down there (for when their kids visit) and that's only HALF of the basement! 
we were in OH 2 weeks ago and saw DH's aunt's new townhouse. 3600 sq feet & GORGEOUS - $180k! 
Message edited 6/16/2006 1:06:18 PM.
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| Posted 6/16/06 1:06 PM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: Time for a new RE agent?
Posted by Ang-Rich
The RE prices in NY, LI more specifically, have gotten so out of hand that I think we all find ourselves in a strange new situation. Sellers have been seeing homes - even handyman specials - sell for unbelievable amounts and so they place their expections behind that. In the meanwhile, the market is shifting, taxes are getting out of hand, and the demand is slowing down. Many who put their homes up just recently have the old mentality in the new market and the two just don't mesh. So regardless of whether or not insultting offers are ridiculous, I agree with Diana1215 that it's still happening. However, those sellers who are insulted will learn the hard way.
I never thought I would see the day that I consider leaving NY 
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| Posted 6/16/06 1:08 PM |
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Palebride
I am an amazing bakist
Member since 5/05 13673 total posts
Name:
Lori
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Re: Time for a new RE agent?
My brother recently saw a house he was interested in on Long Island. But he thought it was overpriced, so he made an offer $100,000 less than asking!
He and the seller went through several counter-offers and he is currently in contract to buy the house - not for what he originally offered...but about halfway in between what he was willing to pay and the seller was originally askgin.
I say any offer is worth making!
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| Posted 6/16/06 1:10 PM |
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Eva Luna
Be kind...life's hard!
Member since 8/05 4750 total posts
Name:
God, bless & heal my DH, JenG's DH Rob & DebG
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Re: Time for a new RE agent?
 You know how I feel. Unfortunately, buying a house, any house, was NOT an option for us in NY. Ever. Yes, we're "lucky" like Lori says because my family lives here (in Georgia, where we bought) but DH's family doesn't and I wasn't close to mine at all...so it was a huge leap of faith and the belief that our family is him and me and our future kids that drove us. Hardest decision of our lives. But so utterly worth it. We pay way less than X mortgage (including taxes, insurance, PMI and escrow) and have an almost X sq ft home in a custom built/award winning pool & tennis community. I don't even want to think about what this would be in NY...taxes? We pay a little under X a YEAR (great SD!) -you can't get that in NY anywhere!!
I'm all for leaving...it's insanely hard...but quality of life is so much better...and there are so many people from the North East down here that it'll be like "home" in no time!! 
I'm sorry...I know I sound like a broken record...it's just that it seems so ridiculous. I guess it comes down to how bad you really want to stay. For us, it wasn't that bad at all...the pros far outweighed the cons.
Message edited 6/16/2006 4:10:33 PM.
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| Posted 6/16/06 1:16 PM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: Time for a new RE agent?
Posted by sasha
You know how I feel. Unfortunately, buying a house, any house, was NOT an option for us in NY. Ever. Yes, we're "lucky" like Lori says because my family lives here (in Georgia, where we bought) but DH's family doesn't and I wasn't close to mine at all...so it was a huge leap of faith and the belief that our family is him and me and our future kids that drove us. Hardest decision of our lives. But so utterly worth it. We have an almost 4000 sq ft home in a custom built/award winning pool & tennis community. I don't even want to think about what this would be in NY...taxes?
I'm all for leaving...it's insanely hard...but quality of life is so much better...and there are so many people from the North East down here that it'll be like "home" in no time!!
I'm sorry...I know I sound like a broken record...it's just that it seems so ridiculous. I guess it comes down to how bad you really want to stay. For us, it wasn't that bad at all...the pros far outweighed the cons.
I know sweetie... DH and I both have good jobs though. it's not so easy to uproot yourself. DH has moved around a lot and can't think of doing it again any time soon.
Message edited 6/16/2006 5:18:29 PM.
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| Posted 6/16/06 1:25 PM |
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Eva Luna
Be kind...life's hard!
Member since 8/05 4750 total posts
Name:
God, bless & heal my DH, JenG's DH Rob & DebG
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Re: Time for a new RE agent?
Posted by SweetestOfPeas
I know sweetie... DH and I both have good jobs though. it's not so easy to uproot yourself. DH has moved around a lot and can't think of doing it again any time soon.
Again, it comes down to how badly you want to stay. DH and I both had good jobs as well (I left my dream field!)...there are always reasons to stay. I only brought this up because of your comment. It is possible to be happy elsewhere. 
ETA: But I wish you both all the best in LI!! 
Message edited 6/16/2006 1:42:05 PM.
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| Posted 6/16/06 1:40 PM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: Time for a new RE agent?
Posted by sasha
Posted by SweetestOfPeas
I know sweetie... DH and I both have good jobs though. it's not so easy to uproot yourself. DH has moved around a lot and can't think of doing it again any time soon.
Again, it comes down to how badly you want to stay. DH and I both had good jobs as well (I left my dream field!)...there are always reasons to stay. I only brought this up because of your comment. It is possible to be happy elsewhere.
ETA: But I wish you both all the best in LI!!
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| Posted 6/16/06 1:59 PM |
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