Should it be a concern that multiple houses on same block are for sale?

I saw a house that I thought was cute, but I'm noticing that there are a lot of other houses for sale on the same block, would this concern you?

Should it be a concern that multiple houses on same block are for sale?

I would ask a local agent why. ...around the block from me there are like 4 ....but there aren't usually that many...and I know a handful in my area are original owners that are downsizing

Should it be a concern that multiple houses on same block are for sale?

It might but depends on the area. I am in an area with reasonable priced homes and they are starter homes for many. SO there can be a bunch for sale but its not that its a bad neighborhood just that people are moving for more space etc.

Re: Should it be a concern that multiple houses on same block are for sale?

That's interesting. I never really thought about that.

But I realized that in my old neighborhood growing up, all of the kids on our block were the same age. When we all went off to college, many of the parents (my parents included), sold and moved to retirement world. So there was a big move at the same time.

Re: Should it be a concern that multiple houses on same block are for sale?

This is happening on a street we are looking at in Commack. We can't figure out why besides the fact that the taxes are very high.

Should it be a concern that multiple houses on same block are for sale?

I noticed in areas hit hard by Sandy there are usually several homes for sale on a block. Could be a flood prone block. There is one block not far from me that is not even near the water but floods all the time because the drainage is poor.

Should it be a concern that multiple houses on same block are for sale?

The example of starter homes is a great one, home prices in my area are very low for LI so we have a lot of starters. My neighborhood was started ( we have a homeowners association) in 1948 so most of the orginal owners are getting elderly now. Many of them have children or grandchildren that buy their houses but not all of them. Also it's still somewhat seasonal, a few years ago a lot of people that had second homes here sold them probably due to the economy. so it's not uncommon to have a few homes for sale on one block here and it nots because of anything bad

Re: Should it be a concern that multiple houses on same block are for sale?

Look up Handsome Ave in Sayville. My guess is they are getting flooding.

Re: Should it be a concern that multiple houses on same block are for sale?

Message edited 11/14/2014 11:03:55 AM.

Re: Should it be a concern that multiple houses on same block are for sale?

people tend to list in bunches-

someone see's the neighbor list- and they list

the power of suggestion

or flooding on the south shore for sure

Re: Should it be a concern that multiple houses on same block are for sale?

Re: Should it be a concern that multiple houses on same block are for sale?

It depends, Id definitely ask. With that said, my parents live in a neighborhood that was brand new when they moved in, its over 30 years old now. At the time, all new young families moved in. Most have stayed BUT since they are all about the same age now....there are A LOT of homes for sale simply bc it was new and young at the time and now these peoples young children are grown and they are downsizing but its a GREAT neighborhood so its not indicative of a problem in the neighborhood itself just of the age of the people who live in it.

Re: Should it be a concern that multiple houses on same block are for sale?

I don't think it necessarily = problem.

While I do live in an area affected by Sandy, most of the homes that I have seen up for sale are those belonging to older people who have either died or can't manage them anymore.

I also have heard mixed things about people willing to buy here because they may get a good bargain.

Re: Should it be a concern that multiple houses on same block are for sale?

I'd ask realtor if he/she knows anything about the demographic of the owners. Sometimes it's matter of older/elderly homeowners downsizing. The block might be turning over. There is a block near me that has a few houses for sale right now. It's a very desirable area with top rated schools. The taxes in the area are really high though, so I think some people just can't afford it anymore and/or since they no longer have children in the district, they want to relocate somewhere a bit more affordable.

ETA: Or someone on the block did well selling their house and others are now looking to cash in.

Message edited 11/15/2014 4:49:46 PM.

Re: Should it be a concern that multiple houses on same block are for sale?

I wouldn't assume there's anything wrong with the block or the area. When we moved to our block, the neighbors all said we were the youngest people on the block. Within the next year or so, multiple people sold their homes and moved, and now our block is full of young families with kids. It could just be natural turnover.

Also, as Beth said, one person selling on the block often sets of a chain reaction, prompting others to list their homes for sale. In real estate, we are often taught to target the neighbors when we sell one home because research shows they will be more apt to list their house.

It's always a good idea to research the area you are looking into thoroughly... go at different times of day, talk to the neighbors, etc. But a lot of houses for sale on one block would never make me rule out a home OR deter a buyer client from considering a home.