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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: Wow, prices really are coming down!
the mls map says its on Avenue C.
even if the house is in  condition...this house would have been $350 last year. Ithink thats what the OP was trying to say.
Yes at under $300 with a half acre its going to be a gross house, but I saw a house in the same neighborhood in condition sell for $299 a few months ago and it was only on .2 acres
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Posted 10/9/06 11:43 AM  |
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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: Wow, prices really are coming down!
Posted by Meaghan729
the mls map says its on Avenue C.
even if the house is in condition...this house would have been $350 last year. Ithink thats what the OP was trying to say.
Yes at under $300 with a half acre its going to be a gross house, but I saw a house in the same neighborhood in condition sell for $299 a few months ago and it was only on .2 acres
Exactly.
I'm sure this house has tons of issues...and I agree with the poster that said the structure is prob off.
But it's a good sign that this is the price. It's doable. I doubt it'll need more than $100K in repairs...and $385K for a totally fixed "new" house just under 1/2 acre ain't bad!
I thought more people trying to buy on LI would be happy...but it seems a lot aren't so much. That surprised me.
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| Posted 10/9/06 11:51 AM |
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hazeleyes33
LIF Adult
Member since 5/05 13060 total posts
Name:
Ginger
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Re: Wow, prices really are coming down!
Posted by Meaghan729
the mls map says its on Avenue C.
even if the house is in condition...this house would have been $350 last year. Ithink thats what the OP was trying to say.
Yes at under $300 with a half acre its going to be a gross house, but I saw a house in the same neighborhood in condition sell for $299 a few months ago and it was only on .2 acres
That is down the street from me. I don't ever go down there though. Maybe I will try and look one of these days. I would have to say the average house around here sells for $350-$400,000 so it must need alot of work.
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| Posted 10/9/06 11:51 AM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: Wow, prices really are coming down!
Posted by Eva Luna
Posted by Meaghan729
the mls map says its on Avenue C.
even if the house is in condition...this house would have been $350 last year. Ithink thats what the OP was trying to say.
Yes at under $300 with a half acre its going to be a gross house, but I saw a house in the same neighborhood in condition sell for $299 a few months ago and it was only on .2 acres
Exactly.
I'm sure this house has tons of issues...and I agree with the poster that said the structure is prob off.
But it's a good sign that this is the price. It's doable. I doubt it'll need more than $100K in repairs...and $385K for a totally fixed "new" house just under 1/2 acre ain't bad!
I thought more people trying to buy on LI would be happy...but it seems a lot aren't so much. That surprised me.
that does not surprise me.
IMO, buyers and homeowners are at an impasse. buyers think this is a good thing and homeowners would like to believe that the market correction is bunch of fluff because they don't want their houses to lose value.
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| Posted 10/9/06 11:55 AM |
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Freddie
LIF Adult
Member since 3/06 1162 total posts
Name:
Freddie
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Re: Wow, prices really are coming down!
Posted by SweetestOfPeas
Posted by Meaghan729
with the stock market doing so well, it is a much better investment, imo. It takes a lot longer for cycles in real estate to come around than it does for the stock market.
that's absolutely right. people won't be in such a rush to flip houses anytime soon.
the housing market is going through a correction now. the prices were/are absolutely INSANE in many parts of the country. people in this area that thought a ranch would ever be worth $700K in an avg. neighborhood are fooling themselves. the economy here cannot sustain these prices.
I wasn't even thinking about flipping (although I don't think that's a bad idea either for 285K). People like to buy to rent out too. They can hold onto it for a few years, have someone else pay the mortgage and then sell it when the market starts going up. Of course, the powerlines are an isssue.
There will be a point when houses come down that people will start doing this again.
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| Posted 10/10/06 8:53 AM |
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puppylove
LIF Adolescent
Member since 10/05 561 total posts
Name:
Summer
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Re: Wow, prices really are coming down!
It may need a lot of work, but not a bad price, you might actually have some extra $ to redo it! And a lot of land, that is a plus. 
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| Posted 10/10/06 5:28 PM |
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