To all those like me, who cant afford these prices. Hope is here

wacky Posted: Dec 20, 2003 09:48 PM

To all those like me, who cant afford these prices. Hope is here

the market has leveled off, accordingly prices will come down abt $25 k, we should notice drop in about spring.

This is music to my ears

Wendy Posted: Dec 20, 2003 10:21 PM

Re: To all those like me, who cant afford these prices. Hope is here

A house on our block was just put on the market for $519,000 . It is smaller than our house and we have a 6 room cape! Even if prices come down by $25,000 this house is way overpriced.

I told DH if our neighbors come even close to their asking price I'm sticking 'For Sale' sign on our front lawn!

wacky Posted: Dec 20, 2003 11:14 PM

Re: To all those like me, who cant afford these prices. Hope is here

Yeah but at least they are coming down, the prices have peeked. The days of high 200's for homes are gone.

Kel Posted: Dec 20, 2003 11:29 PM

Re: To all those like me, who cant afford these prices. Hope is here

Posted by Wendy

A house on our block was just put on the market for $519,000 . It is smaller than our house and we have a 6 room cape! ...

There's a difference between what a seller might be asking, and what the seller ends up accepting!

Teri Posted: Dec 21, 2003 10:17 AM

Re: To all those like me, who cant afford these prices. Hope is here

Was this from last weekend's Newsday? We read an article indicating the same. Who knows though....I don't think the market will change too drastically, but maybe we'll get a little bit of a break

I do notice that there is very little to choose from right now with the holidays...and my RE agent told me that last year, they didn't notice a dip with the holidays - this year they have. I'm sure it'll pick up again in the Spring.

yabbobay Posted: Dec 21, 2003 12:46 PM

Re: To all those like me, who cant afford these prices. Hope is here

its a tricky game...don't wait too much...b/c sales usually pick up in better weather...(more people out looking)

wendy...my moms neighbor was the same...granted another house sold for $600+ - but the owner was a contractor and gutted the whole thing...added on...it was gorgeous...but that was a rare case...another listed for $525...my mom and I went to the open house just out of curiosity and it was a piece of crap!!! the basement wasn't furnished...the windows were original (40years old) and they said they were 'modern', the floors were scratched...the backyard looked like an abandoned lot...

the best was whent he agent gave us the paper on how we could own this...

$52K down
$3200 a month mortgage
$800 a month school taxes!!!

if I am paying $4K a month for a house...it better look a lot nicer than that...

I think it sold inthe low $400s!!!

KCDC Posted: Dec 21, 2003 06:51 PM

Re: To all those like me, who cant afford these prices. Hope is here

Please one thing I noticed......

We called on a For Sale By Owner. This house was a complete hole. But had great potential. It was a cape in Commack. They wanted $425,000. I almost fell over when this woman told me. I was like 'what are you kidding me?' She goes, 'It has new Anderson Windows'. So I noticed that people feel they can add like 100 grand if it has 'Anderson Windows'. Oh and the roof thing gets me too. 'But the roof is only 5 years old'...ITS SUPPOSED TO HAVE A ROOF!!!!!!!!!!!!!!

The prices have to go down....or all of us 'young adults' will be going DOWN to Florida..lol

kittyke Posted: Dec 22, 2003 08:31 AM

Re: To all those like me, who cant afford these prices. Hope is here

This is great news, did you read it somewhere? I hope hope and pray it is true!!

wacky Posted: Dec 22, 2003 08:40 AM

Re: To all those like me, who cant afford these prices. Hope is here

I went to my office, where I do real estate on the side. My broker showed me the article.

Sonicstef Posted: Dec 22, 2003 09:33 AM

Re: To all those like me, who cant afford these prices. Hope is here

The Wall Street Journal had an article that pretty much said there will be no real estate market bubble bursting until lots of people move out of the area or there is more land to build on.

Bonuses are supposed to be 'up' this year too and those get paid at the end of winter which means a possible jump in prices in the spring.

Sorry - but I dont think anyone can predict what is going to happen with the real estate market.

Misty Posted: Dec 22, 2003 12:59 PM

Re: To all those like me, who cant afford these prices. Hope is here

This is great news. I also have a feeling we will see tons of foreclosures flooding the market in the next year or two. Way too many people got in over their heads with these prices. My cousins development in Freehold had 6 foreclosures in the last 5 months alone!

wacky Posted: Dec 22, 2003 01:39 PM

Re: To all those like me, who cant afford these prices. Hope is here

Misty I agree they said foreclosures have gone up in the past year already.

butterfly20 Posted: Dec 23, 2003 07:43 PM

Re: To all those like me, who cant afford these prices. Hope is here

a 25$k drop would be very nice!!!!

Kel Posted: Dec 23, 2003 11:54 PM

Re: To all those like me, who cant afford these prices. Hope is here

Posted by Sonicstef

... Bonuses are supposed to be 'up' this year too ...

Bonuses .. as in bonuses at work ??? I'd like to know who's bonuses at work have gone up .. cuz I certainly don't know anyone who even got a bonus .. nevermind got one that went up!