OK, not to beat this subject to death, but I am so frustrated by housing prices!!!
It seems like niothing decent (I mean, really, the bare minimum here) is less than 300k, and even those homes are hard to find.
Who is buying these homes? I mean, do THAT many people make that much more $ than I do??? (OK, so we don't make a lot, but we clear 100k together).
butterfly20
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Re: Who the heck is buying these 400k+ homes???
im very frustrated.. i have the down payment.. and the houses that were 270's are now listed in 400's... its soooo frustrating
Diane
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Re: Who the heck is buying these 400k+ homes???
I totally hear you, and the ptoperty taxes are so high
Hubby did estimates for landscaping in a new development that these people were living in the houses for a few months, and and they have NO furniture.
Lunatrek
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Re: Who the heck is buying these 400k+ homes???
It's horrible, isn't it? We're being forced out of the island... Personally, my FH and I aren't in love with it here, so it's not difficult for us to move... it's just unfortunate because our families are here and it's never easy to be far away from people you love
mishandgerard
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Re: Who the heck is buying these 400k+ homes???
we are going to move out of state. The housing prices are at least decent with decent salaries too, so we would be doing well.
Teri
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Re: Who the heck is buying these 400k+ homes???
who can afford them? Anyone with enough equity in another house that they can use to trade up with! With the market so insane, people all over LI are getting more for their house, so they have more options now that they're home price was so inflated. That's what is so frustrating to us, because we're entering the market for the first time, and this type seems to get screwed the most!
Believe me, I feel your pain!
eroxgirl
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Re: Who the heck is buying these 400k+ homes???
Amen to that!
Nav023
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Re: Who the heck is buying these 400k+ homes???
How about $450,000 for a two bedroom co-op apartment that only has windows in the living room???
cluelessbride
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My FH works for the LIRR, and he doesn't want to leave them, so we're stuck on LI or in the city.
I'd love to buy a house in Brooklyn, but those prices are even worse. It's insanity!
The thing with trading up is, so you sell your house for 400k, and then you take on a 100k mortgage to buy your next house that is only a bit nicer than the original? I don't get it!!!!
white-wolf
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That's insane. I've just been looking through some of the real estate web sites and I feel sooooooooo discouraged right now.
jennyg
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I totally agree with your girls...however, with interest rates so low, if you have the down payment, a $425k house has a lower mortgage than what I was paying for a one BR apartment in NYC!!! Now THATS insane!
jennbaby
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Re: Who the heck is buying these 400k+ homes???
jennyg really?
charliesgirl
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I am with all of you. We live in a modest area of Queens. A small 3 bedroom cape, with very little property is going for half a million dollars or more!!!! My parents house has quadrupaled(sp?) in price. My husband and I thought that we would be saving money by moving to LI but its just as expensive there.
jennyg
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Re: Who the heck is buying these 400k+ homes???
Jennbaby-
Yes. And I'm not even counting all the tax deductions - I'm talking monthly out of pocket payments alone. Of course we also had to get a second car and we are spending more $$ on the house than we did in a 1 BR apt, but it really made so much sense for us to completely empty out our savings (YIKES) and take the plunge.
chmlengr
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Jenny - I agree. If you can get the downpayment, go for it. It's definitely better than some rents you might pay for a decent apt.
susans
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jennyg and jennbaby totally right. We were living on 77th and York and our mortgage is cheaper than what we were paying in rent.
We finally met our neighbors and it seems like the everyone in our development is our age. This is a fairly new neighborhood, only 4 years, and I think that everyone here took advantage a few years ago and by selling their first homes and 'trading up' Smart move on their part because they paid a lot less than what we did and their property values have increased significantly since then...
tracyg
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Re: Who the heck is buying these 400k+ homes???
We plan on moving out of state when it comes time to buy a home!
Sonicstef
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I feel your pain.
We cant find a single home worth living in in my area in Brookyn for less than $750K - and thats for a freaking one family. Two families start at $1M and they are doing you a favor at that price.
Even on my block, people are paying crazy prices. I dont know how anyone making less than $300K can afford today's market.
Sassyz75
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Re: Who the heck is buying these 400k+ homes???
Please it is disgusting... what bothers me is that it is ALMOST impossible to even PUT 20% down... And with the way houses are priced right now you won't be building ANY equity if you are a first time buyer for YEARS anyway b/c you will be paying ALL interest...
I REFUSE to buy at these prices and if I miss OUT- whatever we'll buy somewhere else...
The market goes up it goes down.. the interest rate goes up and down- we'll all survive- I think we just have to be patient.
acp1101
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Re: Who the heck is buying these 400k+ homes???
I live in Brooklyn so all the decent houses go for 600,00+...LITERALLY!! And those houses need some work!! I would LOVE to know how people can afford to buy these houses!!!
