UPDATED: anyone else depressed about house hunting??

UPDATED: on last page

I don't know about anyone else but i'm so depressed. My FH and i went looking at a few houses yesterday and it's crazy. The market is so all over the place that it drives me nuts. A beautiful house, 4 bedroom, 1/2 acre, etc is $760,000 but then there's sh*t houses on less than 1/2 acre, only 3 bedrooms and it would obviously need a lot of updating... is $740,000. ARE YOU JOKING??? These houses are priced wrong!!!! It makes me so mad because there's nothing under $700,000 out here that i would want to live in.

So my FH and i saw the perfect house yesterday. I mean you wouldn't have to do a single thing to it. Its on 1/2 an acre, beautiful piece of property, room for a pool, you could extend the house and build a 2 car garage with an apartment on top of it. It was perfect. But we're most likely not going to be able to afford it and i'm so disappointed. Here it is girls... the house i won't be getting...




Did i mention this s*cks???

Re: anyone else depressed about house hunting??

I feel your pain girl!
That's why when my FH's company announced they were transferring to PA, we jumped at the chance. Houses are still EXTREMELY affordable there and we'll get a better start. (a $700,000 house here is about $250,000 there) Hopefully though prices on LI will start to come down... I mean, they have to, right??
Good Luck with your search, and just know, you are not the only one feeling this!!

Re: anyone else depressed about house hunting??

Oh that is perfect! We're just waiting until the prices go down or we find something we LOOOVE. So far neither has happened.

I agree though! It does s*ck and it amazes me how shacks sell for so much!!

Re: anyone else depressed about house hunting??

I think we are considering a townhouse or condo b/c of this!!

Re: anyone else depressed about house hunting??

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Posted by MayBride06

I think we are considering a townhouse or condo b/c of this!!

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us too thought the prices there are sky high too. The ones Ive seen online that I like are still in the 300 range.

Re: anyone else depressed about house hunting??

I feel your pain. We're going to rent for a few years. We're not even candidates for a mortgage because FH's business is too new. (he's only open one year on his own) there is a fannie mae rule that says you have to be self employed at least two years to qualify. you're in a better position than most, so don't worry you will find something.

Re: anyone else depressed about house hunting??

I feel ya! It totally $uck$! FH keeps telling me that he hears the market is going down but I dont believe anything politicians or business people say until I see it. Just keep up your search. You'll find something!

Re: anyone else depressed about house hunting??

not sure how the market is in the towns you are looking in but i always ask how long a property has been on the market. i'm finding a lot of homes by me have been on the market 6 months or more. ignore the broker and the asking price and don't be afraid to make a low ball offer and negotiate from there. you may get surprised and end up with the house you want.
Good Luck!

Re: anyone else depressed about house hunting??

We're going to stay in the apt. complex we're in now for a few years. We can save a lot of money that way.

Re: anyone else depressed about house hunting??

we were upset yesterday we found a house we loved loved it was going for 329 and someone offered 315 and he was taking it unless u can do 320...we were going to offer 310 but the 320 we couldnt do right now if this was august after the wedding we could

ugh

whatever we will just rent a lil while and see what comes up

but the market SUCCCCCCKs

Re: anyone else depressed about house hunting??

It does s*ck. I'm in Bergen County, NJ.

I'm exstatic that my condo went up in value by $100k in the last 2 years. The problem is, the houses in Bergen County have gone up in value by about $300k. So, we're right back to square 1 unless we want to move out to the boondocks or something

Re: anyone else depressed about house hunting??

Try looking in Brooklyn I saw a house that needs a lot of work - I mean crap kitchen and baths but it's $3.2 MILLON and what kills me is they will get at least $2.7 for it

ETA - it's in Park Slope near the Park so the $3.2 price is what house are going for there but they are renovated & this one needs a lot of work.

Re: anyone else depressed about house hunting??

I say all buyers get together and protest these prices!!!

I work in finance, and people seem to think that the bubble has begun to deflate a little. everyone I know selling a house has had it on the market for at least 6 months with no bites. all of my friends that bought houses in the past two years did so out of state.

Don't worry girls, we well all get our dream houses!!!!!

I say we start pooling our $$ together on lottery tickets!

Re: anyone else depressed about house hunting??

My brother just signed the contract for his house the other night, the lawyer and broker both said that the market is coming down, and interest rates are not going to up that much..we should see a big difference within a few months

Re: anyone else depressed about house hunting??

We're going to be looking for a condo because of this too. Good luck! It's going to work out in the end. It just s*cks know.

Re: anyone else depressed about house hunting??

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Posted by MayBride06

I think we are considering a townhouse or condo b/c of this!!

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FI and I both still live at home with our parents so this is def. a huge change for us...things in NY are so $$ they we are lookin at TH and CND in NJ!!!

Re: anyone else depressed about house hunting??

I am afraid that we will never be able to afford anything on Long Island.


I am a teacher and he is an aspiring motorcycle mechanic and designer. He is so good at what he does. He just needs to get the certificate for it. I know he could make good money but I am not sure if there is a calling for it on Long Island.

It is funny because at one point he asked me to move to NC and I said 'no way' and now I beg him to move. I just want a nice house in a quiet neighborhood and I think we could do it there, but here in NY, I am afraid we are doomed to rent forever.

Re: anyone else depressed about house hunting??

Ridiculous!!!! If nobody bought the houses at these prices, then the sellers would be forced to lower them.


ETA: I was thinking about NC too...Gorgeous houses for 200K

Re: anyone else depressed about house hunting??

See... we can't move anywhere. My FH is a cop so we're going to be living in this town forever. And unfortunately we live in 'the hamptons' (god i hate saying that), so everything is just ridiculously priced. I mean for a young couple... it's almost impossible to stay here and it's so unfair. We've lived here all our lives and people who just come here for the summers or to buy houses... have just ruined it for us. I hate to say that, but it's true.

Re: anyone else depressed about house hunting??

Just so you guys all know.... The market is going to come down this spring... almost like 20 percent they are saying! One of my best friends owns a real estate company and told us the great info. I am going to be taking classes for real estate pretty soon. If anyone is looking to rent right now on LI... we are renting in a town house complex in farmingville (fairfield hills) they are beautiful! Our town house is 2 years old, huge and garage and all for a resonable price.. we are staying here till the market goes down!