the housing market starting to level? it seems that activity is not as fierce as it was a couple months ago and as a result homes are sitting on the market for a longer period = drop in price.
i have also noticed that the new homes coming on the market are not as $$$ as similar homes being offered over the summer.
maybe it is a seasonal thing, but i hope the drop in $$$ is a result of the over-inflated market and people FINALLY coming to their senses.
NPbride
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Re: Have you noticed
I thought so, too (or maybe wishful thinking)! But I'm noticing alot more houses in Suffolk in the under 325,000 range. Nassau still seems out of reach though! I hope I'm not imagining things! But when FI's brother was looking a few months ago (about 6 or 7) they could not find anything in their price range which was under 300,000 and now I feel like I'm starting to see more of that.
janwinterbridejoy
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Re: Have you noticed
when i was looking my real estate agent said that the market always softens a little in the colder months. i know it was fierce looking in the summer if i was ever going to move i would look in the colder months were there arent as many people looking so that there isnt as much over bidding. everyone wants to get a house and get into it before the holidays and causing all this over bidding
anjerandunder
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Re: Have you noticed
of course it starts to settle AFTER i've already bought a co op..that's okay i'll hopefully be able to afford something again next year!!
februarybride
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A friend of mine who just got his real estate license said that the real estate market is expected to go down about 10 - 15% over the next 4 years....
Terrier412
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That is what DH has been hearing/reading (he's in finance)...
I've seen prices in Forest Hills (where home prices have been completely ridiculous in the past year) start to creep down... probably by about 10%...
lesleyw
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Re: Have you noticed
I have found that well-priced homes still go fast, but the ones that are over-priced do sit and I have seen prices come down on properties by over $20,000. In fact, we paid paid $20,000 less than asking price for our home (we went in to contract at the end of July). I think prices might be leveling off. However, that's what it looked like last fall and prices shot up again in the spring, so it's really hard to tell. But the fall seems like a good time to buy.
AliKing
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Are you noticing this in Nassau???? If so please share the locations!!! I've been searching everyday and the prices seem to still be out of reach.. Thanks
skew
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Re: Have you noticed
i am looking in suffolk (huntington, centerport, northport) so, i cant answer for nassau.
keeping fingers crossed for all of us.
lesleyw
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Skew -- those are the areas we were looking, too. We ended-up in E. Northport. Good luck!
AliKing
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Posted by skew
i am looking in suffolk (huntington, centerport, northport) so, i cant answer for nassau.
keeping fingers crossed for all of us.
Great!! Good Luck! I was just looking at huntington on mlsli and the prices seemed reasonable! I've never been there, is it nice?
lesleyw
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AliKing -- Huntington is really nice, but you have to be careful of some areas of Huntington Station. I lived there for four years and was in a good neighborhood, but there are some less desirable areas.
AliKing
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Posted by lesleyw
AliKing -- Huntington is really nice, but you have to be careful of some areas of Huntington Station. I lived there for four years and was in a good neighborhood, but there are some less desirable areas.
Thanks! I think I'll take a drive out to see.
skew
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as Lesleyw mentioned there are definetly some areas of huntington to avoid:
- close to the train station and (route 110 north of jericho) - some sections west of park avenue
FM if you want more specfics
ETA: IMO, homes in huntington are less expensive then homes in northport, but taxes are higher in huntington. be advised, that huntington SD is not the greatest. personally, i WOULD NOT send my kids to HHS.
DjPiLL
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Posted by anjerandunder
of course it starts to settle AFTER i've already bought a co op..that's okay i'll hopefully be able to afford something again next year!!
Don't sweat it. I don't see the co-op market going down even if housing prices drops 10-15%.
Co-ops are still significantly cheaper than houses... so the people who can't afford a house will still be interested in a co-op. Thats a HUGE market of potential buyers.
