House Q- *EDITED*

is 310,000 too much for a house on LI in today's market ? I'll give some specifics.. 100x150 property, suffolk county, cape, 5 bedrooms 1.5 baths, unfinished full basement... whats your opinion?

j/w. We may have to offer more money on a house. DH said 'no way in helll'.. my opinion, 310 for a great house is good.. no?


help please


ETA: We already made an offer on the house back in December. Its been a waiting game because the house is a short sale Our offer is the only one 'accepted' by the bank, meaning we're the only offer on the table. Its been this way since Dec. 21st.. Nothing like terrible timing. FYI don't put in an offer on a house the week of Christmas. Our offer sat until after the new year..
The house is off the market. We're dealing with 2 banks- 1st bank (that holds mortgage) accepted our offer... 2nd bank (holds HELOC) is the one we're waiting on. Our agent told us last night that worst case scenario we would have to pay 5-10k more to the 2nd bank to get them to agree to sell & release the lien.

The agent thinks we probably wont have to because we already offered more than the listing price- which he thinks was a really good offer..

Vin is saying he refuses to give them a dime more.. My argument is that 310-315K TOPS for a house in this area is a great deal. Id kick myself (and him) if we didn't do it. Bottom line, if it comes down to it, Ill give the 2nd bank a couple K more if it means I get a house, no? Vin says negative I'm just trying to build an argument should it come down to this..

good vibes please ladies. I didnt want to jinx anything so I havent mentioned anything yet. So please, send some house dust!!

thats a pretty decent price, its hard to find anything 'liveable' for under 300,000.... unless its in a really bad hood, then its to much

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Posted by HeatherRose

thats a pretty decent price, its hard to find anything 'liveable' for under 300,000.... unless its in a really bad hood, then its to much

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it's in bay shore.. it isnt too much of a 'hood..


(i've lived in BS since I was 4.. I love it here- I wont go anywhere else)

That's awesome as long as it is in a good location. We paid more than that for a 1 full bath, 3 bedroom ranch with full basement and inground pool in East islip.

Good Luck

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Posted by soon2bmrsVPT

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Posted by HeatherRose

that's a pretty decent price, its hard to find anything 'liveable' for under 300,000.... unless its in a really bad hood, then its to much

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it's in bay shore.. it isnt too much of a 'hood..


(i've lived in BS since I was 4.. I love it here- I wont go anywhere else)

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I would check houses out in Bayshore on MLSli.com and see what the going rate it, I don't know what the price is there for houses since we haven't checked that area, were looking for more east of here, but I seriously think that's a good price. Good luck I hope you get it

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Posted by HeatherRose

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Posted by soon2bmrsVPT

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Posted by HeatherRose

that's a pretty decent price, its hard to find anything 'liveable' for under 300,000.... unless its in a really bad hood, then its to much

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it's in bay shore.. it isnt too much of a 'hood..


(i've lived in BS since I was 4.. I love it here- I wont go anywhere else)

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I would check houses out in Bayshore on MLSli.com and see what the going rate it, I don't know what the price is there for houses since we haven't checked that area, were looking for more east of here, but I seriously think that's a good price. Good luck I hope you get it

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I agree with looking on MLSli.com to see what other similar houses in the area are going for. The price sounds good to me. We payed more for a smaller house last summer. Just make sure you really like the neighborhood. And get it inspected to make sure it doesn't have any serious problems before you sign a contract. Good luck!

That is an excellent price for a house on LI that has 5 bedrooms. I seen houses that have 3 bedrooms and 1 bath go for that price.
You could even offer what they ask without going over. Good luck I know this is an exciting moment.

sounds like a great price. plop that house here in VA and it would be $700k easily.

Considering that the predictions are....the market will keep dropping for at least another year...you may be able to talk them down to a lower price. 310 is a good price BUTTT ( some people may get upset at me ) it is a buyers market and you should ask at least 15% less then the actually asking price!!! Good luck! WOW 5 bedrooms!!! A friend of mine just bought in Ronkonkoma a house for 250 4 bed 2 bath, connetquot schools, great condition.

That seems like a good price to me!!! We paid more then that for our house and ummmmmm DID YOU SEE IT before!!! lol

Def. look at other prices within the neighborhood, that's important.

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Posted by soon2bmrsVPT

Its in my neighborhood.. North of sunrise.. Not in the yuppy area so it's safe.. haha, kidding of course

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What school district is it in?

seems like a reasonable price here on LI.. i know its tough and nothing seems worth it.... but its the price we pay for living here

I agree with you in this situation. I think that's a decent price for a 5 bedroom house ... even if it is over the asking price ... and especially if you love it!

I just saw an episode of My House is Worth What? where the couple paid something like $200,000 over asking price because it was a bidding war and there were 24 offers within 3 days of the house being listed

Fortunately for those of us looking to buy, its not that kind of market these days!

Here's some house dust for you

from what DH and I are seeing ('we're looking) that seems very reasonable.

the onyl two things that would make me chage is to know what school district and how far east is it?
there are things in suffolk for well under 300K, but they're quite far out east (Selden, Ronkonkoma, MAstic, etc.)

Also, does the house need a LOT of work? if it does, they could probably lower it a little.

but all in all, for a 5 bedroom, i don't think you're going to do much better than that.