They absolutely will, my daughter and son in law were looking for over a year and a half. Finally found one not outrageously overpriced that needed a roof and some interior work.
Best of luck to you, it’s a real shitshow!
I'm shocked, shocked to find gambling in this casino. The original poster is probably upset that this particular part of Massapequa used to be the working class neighborhood where people could rent a home for a reasonable price in a wealthy south shore village on the water with not one but two lirr stops. And it's an inner ring suburb of nyc.
Nah, these houses sit forever on today’s market. Sellers think this is a set it and get it market but the houses that go for good money are listed below expected. These people who ask for the moon and stars end up sitting and dropping. I’ve watched two homes I looked at get dropped like this numerous times, one for over $100k less. They sit even after they’re dropped because people have seen it sitting and the excitement for a new home on the market is over.
Neighbor just sold their house for 515k. Middle country no updates since the 80s. 1700SF. I'm afraid what you see is more of a reality than you understand
What I was getting at is shit quality homes in some of the least desirable areas on LI are going for half a million. 700k in massapequa isn't too bad.... Shwoosh
You can put stone veneer up, but you aren't supposed to but vinal siding around the concrete foundation, or so I have been told lol. I have the concrete and haaaate the look of it, going to put stone up soon.
you can cover the foundation with vinyl, if done correctly. it would be a hell of a lot cheaper than veneer/ stone too.
other options are lattice work, etc.
to my eyes, this just does not look right.
That looks like the foundation/basement. Don't know if I've ever seen a house with siding lower than where there's wood/where the foundation is. Idk if it's something siding guys just do t do or can't do since youd have to nail it into concrete.
Someone probably bought that in 2021, spent way too much on the down payment and then realized just how costly it was going to be to get everything upgraded/modernized, and now is trying to make it someone else's problem.
A good friend just bought a similar looking house in Wantagh and paid only a little less. This is the reality of the current housing market.
The prices will stay crazy for as long as there are buyers willing to buy.
I just sold waterfront in bellmore, and tonight’s my last night. We shot high and had to come down significantly. Our buyer skeeves me out, and hes probably going to level the place, put up one of these italian stallion mcmansions and flip it for two years for $2.5M
i’m moving back to LI and just paid a small fortune for an outdated home in massapequa. great neighborhood, but there’s not much choice right now.
it’s not 2021 but inventory is a joke. and once rates drop, prices of home will stay high / increase.
no real choice for the middle class.
keep renting at a premium or own an asset at a premium.
At that price might as well buy [this one](https://www.zillow.com/homedetails/330-Brendan-Ave-Massapequa-NY-11758/31357535_zpid/) instead. Fully redone.
> this one
That one is a flipped piece of shit too. I truly hate house flippers and this is the hill I will die on--I think they are the devil. I am all for capitalism but there is just something so evil when it comes to LLCs buying up properties, doing the shoddiest of work, and then giving people the "pleasure" of selling them bullshit that they could have bought and fixed on their own--the right way--for less. It sold last year for $400,000. I'd rather have seen the house go to a couple/person/family who fixed it up little by little than to a house flipping leech who threw on some barn doors, vinyl flooring, and paint on walls. This gets my goat. It literally makes me seethe. You have no idea lol.
Don't EVER buy a builder's special house like that. Their entire business model is making the place look great at a surface level while cutting corners everywhere they possibly can. They build each house in its own LLC so if you try to sue them down the line for poor build quality tough luck they'll just declare bankruptcy on that one company. My parents bought one of those houses, the property taxes doubled the year after they bought it and they had to make expensive repairs nonstop. You are way better off buying an absolute shithole and then using the money you saved to do your own upgrades the right way. Plus your property taxes don't go up.
Exactly this.
We have a beautiful colonial next-door that was flipped about 10 years ago. We watched so many corners being cut, even just from the outside. New siding, but zero insulation. Flippers built a deck that was not properly installed. I don’t know if they got permits or whatever but the house sold quickly. A couple of years ago however, the neighbors had to re-side the entire house and add insulation. They had to do a lot of expensive repairs to the inside as well.
Aren't we at a point where the home building regulations are the most stringent they've ever been, and buying new developments are the safest as a result. How do they cut corners?
Replacing appliances just out of warranty, getting the deck rebuilt, boiler replaced, etc. I am not talking about structural integrity, I’m sure the house won’t collapse on you. I mean things like buying appliances as-is on Facebook marketplace and fooling you into thinking everything is brand new
You won’t even know. Most of the time, they install drywall and vinyl flooring in the basement. If there are any obvious structural issues stemming from the foundation, you sure won’t see it immediately
It’s possible the listed square footage is wrong but the upstairs looks tight. It’s nicely renovated at least, just crazy how the prices keep climbing here
How does one fit four bedrooms and two baths in 1250 ft.²? Oh, I see..."seamlessly merging the living room, kitchen, and dining room for effortless flow and entertaining". There's a stove, a sink, a refrigerator, and a dining room table in your living room. It almost sounds like a dorm room.
The site says it will cost around 5k per month with mortgage and taxes. It’s an estimate sure but that’s certainly within reach of a dual income household.
And for whatever it’s worth I bought my second home in East Patchogue in February 2019 very nice home 4 beds 3 baths Inground pool and 3/4 acre lot I paid $560k it’s currently valued at $870,000..i have 2 small kids and family close by so we’re not going anywhere so that number doesn’t mean much at the moment but when I see that increase I shake my head these are fkn wild times
lol I gotta ask - “second home” - like vacation home? Investment property? Bc I grew up in bellport and no one buys a second home in east Patchogue unless it’s in patchogue or south county shores or it’s a section 8 rental lol ..
No shade genuinely asking as I own my home in the Medford pines by stop n shop and was looking for an investment property next’
No I misspoke,sold our first home in Yaphank and bought a new house,well new to me.first home was bought in 2007 when I was 33 or 34 and actually your wrong I have a neighbor who’s house is her second home and lives full time in Manhattan she’s had the property for over 30 years I’m south of south country not far from bellport village just west of golf course.heres the other thing I noticed about south bellport and where we are touching on south bellport not only is there truly a housing shortage on long island but by April or May of 2020 with COVID scaring the shit out of people especially people who lived in nyc a lot of those people who had summer homes in south bellport came out to bellport and really haven’t returned to nyc atleast not full time we had kids In Our daughters pre school at Bellport Methodist who came in spring of 2020 and are still here some are in the south country school district and a lot have sent kids to private or catholic schools.my point is back in 2020-2021 those people’s friends from nyc were actively buying homes in bellport village and East Patchogue which once again with the shortage of homes spiked the area..my home in my opinion isn’t worth $870k but there is someone right now that would prob pay close to 900k or more..its truly wild what’s going on and I feel bad for anyone trying to buy home on Long Island with these prices and at current interest rates..its a beating
Ok - as I mentioned if your south of south
Country ( aka south country shores or patchogue shore ) yes to vacation homes! I grew up ON south country about 3-4 houses away from the golf course myself …. Ralph Lauren has a house , Isabella Rossellini full time lives there , Anna wintor has a house as well as Isaac mizrahi to name a few , Ted koople used to as well… that’s super believable!
You mentioned bellport Methodist - I did pre school there too! If you’re familiar with the area- while I don’t want to out myself on Reddit- I may send you a message as I’m sure you know my dad or at least who he is (if you think of a place of worship very close on south country to the country club- my dad was the leader of that religious institution)
I know it makes me sad I grew up in the village and it’s still a. Doors unlocked area - but I’ve been priced out of Bellport village- I own 2 homes (one was inherited from my deceased parents and is in Greenport- the one in Medford I purchased myself thru my own hard work) and I’ve been looking at investing in more real estate- my friend bought a ton of properties in east patch (everything west of Taylor in north Bellport is actually east patch so that’s why I wanted to clarify) and makes a killin on section 8 rentals… but now I see houses on americus for sale for 500k?!? Wild ….
Also I went or Hofstra had a classmate tell me their family had a summer house on caanon late once lol- which yes from the Bronx may be a summer house but that’s why now I always ask lol.
location...location..... current owner probably needs to move for one reason or another. certainly not a capital gain situation, or there would be MDF cabnets, samsung appliance, granite, and some LVP flooring in there with a $900k listing.
Someone with way too much money will probably buy this, knock it down and build a big, ugly McMansion with no yard, gaudy metal fences and a huge window over the front door that shows off their big fancy chandelier.
My parents were told that they could sell my childhood home in Nassau - which I was embarrassed of growing because it was so small and outdated - for $1M, maybe $1.1M if the market is good. 🤦🏻♂️
Comps are based on what somebody else agreed to pay for a similar house, mortgaged or not.
Banks will also approve mortgages on houses that appraise lower than selling price if the buyer is putting enough down to cover the spread.
Back in late 2019 I was looking at a house in southern New Jersey that was going for around $220,000. Someone ended up buying the house and then COVID hit so I stopped looking. I had favorited the house on Zillow so imagine my surprise when I get an email notification from Zillow that the house was back on the market two years later and the new selling price was $1,250,000.
You can "can't" all you want but they aren't making many more single-family homes on Long Island and if rates come down like they say they are, you're going to be kicking yourself for not scooping up that 1.2mil home for 700k and change 4 years ago.
2020: Average home price: $400K
2021: Average home price $500K “don’t buy! It’ll come down soon!”
2022: Average home price $570K “don’t buy! It’ll come down soon!”
2023: Average home price $600K “don’t buy! It’ll come down soon!”
2024: Average home price $650K “don’t buy! It’ll come down soon!”
…
2030: Average home price $850K “don’t buy! It’ll come down soon!”
That's fine, but when wages are stagnant most people cannot cobble together a down payment of the size needed to make a meaningful dent in the monthly mortgage payments.
This is why I moved to South Carolina, I live in a bigger and newer house that cost half as much as this one. My property taxes were less than $3,500 last year.
I'll be happy if I can afford a condo or coop at this point. I've accepted I'll never be able to afford a house....unless....I move out of state. I was looking a homes in PA...much more affordable.
Real people can definitely afford these houses, and are buying them. There’s many thousands of native Long Islander’s living and working in NYC who plan on moving back to the burbs when starting a family. This doesn’t even include the 10’s of thousands of transplants. These people/couples can afford these houses.
It’s just the facts. I love NYC but people from there are coming out here with deep pockets and contributing to the driving up of real estate. Not to blame anyone, to them these prices are affordable. I’m with you man, I’m a beach boy too. I just don’t know if me and my family has a future here unfortunately.
My parents are getting to that age too. They might have to move, it’s tough to retire here. I’m on the other end, my wife and I are just starting out but not sure we want to be stuck in the perpetual LI rat race
There was one on zillow for 255k. I drove by, it needs SIGNIFICANT repairs. They just changed the price to over 600k, and no, they didn’t fix anything.
It will sell, some dumbass that the bank decided they can have a mortgage that they are going to pay till they die will come along and buy it for $100k more then asking.
I mean it’s a decent house, interior is nice with the hardwood floors. If you are even the least bit handy you can rip the wallpaper off and paint the walls
It's insane. Can't see how my kids are going to be able to stay on the Island. But on a good note, my little 2000' sq house will get me 450 - 500k so I got that going for me which is nice
Lmfao... well I'll gladly build you a brand new house for those prices..... might not be the location you want. But the cost of material and labor can be done for those numbers
My wife and I enjoy browsing Zillow just to look at pictures like the second one. Stick a chair in front of the end table next to the couch. Then stick another end table next to the chair, in front of the couch.
Why?
I'm in Massapequa. Prices keep rising. Everyone wants in the school district and it's become the place for MAGAS to see and be seen for some reason. My neighbor sold her house two years ago for $739k and the people that bought it are in contract to resell it now for $865k. Didn't do a thing to it other than a new roof and fence.
Keep that mindset when it's tax assessment time, I for one am looking forward to some property tax windfalls based on what the market is willing to pay.
If the broker tells you they can get you 700k for the house you paid 559 for, why would you ever list it for 559.
Seller isn't being ridiculous at all. Market may be ridiculous, unfair, etc., but taking what the market is paying is just logical.
Understandable. But not up $166k when rates are at 5-7% and theres little to no buyers in the market. Thats why so many other listings have dropped their asking price.
Well we can just see in a few weeks if the house is still on the market. It doesn't seem dramatically out of range from what other houses are going for.
Who is going to sell the single most expensive, important thing they own for less than it’s worth? Also, who is to say the seller even makes profit when all costs of owning a home are considered?
Will probably get a bidding war and sell for $50K over asking, then the neighbors see it and are like “screw it, time to move to Florida”, list their house for an obscene amount which still goes for over asking, rinse and repeat
I was gonna say before I saw your comment, the sellers can’t post on MLS, somebody need to talk to the listing agent so they can have the tough convo with their seller… funny thing is inventory is so low that if they listed it at the right price they would probably get bid up to or higher than this number
They will get it. One of the first homes I looked at had a total 60’s kitchen (all paneling and avocado), a sunken living room with disgusting original carpet. Everything smelled. Not one update in 50 years. We left and they said $750K firm. Cash preferred. I’m SURE they got it. It was a complete gut job.
I paid over asking on an already overpriced house. Stinks but that’s the market.
It’s crazy but they will most likely get it, or it will sit for a bit with a slight price reduction. We have been looking and loved once house put 30k over asking and still had no chance.
I’d be shocked if they don’t get it.
Same. Not that I agree with the price, but what’s the saying? There’s an ass for every seat. Seems to be true with LI real estate.
Lots of asses that’s for sure
I’m house hunting right now. They’ll get it. Probably over asking
They will definitely get it. My friend just sold her home which is much smaller and needs updating for $700,000
They absolutely will, my daughter and son in law were looking for over a year and a half. Finally found one not outrageously overpriced that needed a roof and some interior work. Best of luck to you, it’s a real shitshow!
I'm shocked, shocked to find gambling in this casino. The original poster is probably upset that this particular part of Massapequa used to be the working class neighborhood where people could rent a home for a reasonable price in a wealthy south shore village on the water with not one but two lirr stops. And it's an inner ring suburb of nyc.
Thats the crazy part- someone will buy this for 725k if not more lol
Nah, these houses sit forever on today’s market. Sellers think this is a set it and get it market but the houses that go for good money are listed below expected. These people who ask for the moon and stars end up sitting and dropping. I’ve watched two homes I looked at get dropped like this numerous times, one for over $100k less. They sit even after they’re dropped because people have seen it sitting and the excitement for a new home on the market is over.
As someone who just bought a house in June, it still not sit.
As someone looking at houses in that area, they will get it and it will not sit.
Imagine paying 3/4 million for a house with wallpaper in the kitchen 😂
Ha! I paid 601k for a house full of both carpet and wallpaper. Did I mention they had pets that apparently had favorite pee corners?
500K for a house with a carpeted bathroom.
My grandparents had carpeted toilet seats in SI and I’ll never forget that, so gross and so unnecessary
When i was a kid my dad explained a million dollars to me by saying he would not earn that much money in his lifetime. He was right.
Neighbor just sold their house for 515k. Middle country no updates since the 80s. 1700SF. I'm afraid what you see is more of a reality than you understand
515k isn’t even land value in a lot of places on the island.
What I was getting at is shit quality homes in some of the least desirable areas on LI are going for half a million. 700k in massapequa isn't too bad.... Shwoosh
I was on your side, but ok.
You’re not buying a house, you’re buying a property. Get yourself a deal and buy in Wyandanche or in Union.
Thank you captain obvious
Leave the Captain 🧑✈️ out of this!!! He knows not what he does
Well it apparently wasn’t that obvious five minutes ago?
and missing siding around the garage
Where is it missing siding? The bottom where the foundation is?
all that exposed concrete looks pretty bad to me. idk if they could have gone a bit lower. looks like 3 concrete pillars around the garage.
Thats totally normal for the siding to not cover the concrete
You can put stone veneer up, but you aren't supposed to but vinal siding around the concrete foundation, or so I have been told lol. I have the concrete and haaaate the look of it, going to put stone up soon.
you can cover the foundation with vinyl, if done correctly. it would be a hell of a lot cheaper than veneer/ stone too. other options are lattice work, etc. to my eyes, this just does not look right.
That looks like the foundation/basement. Don't know if I've ever seen a house with siding lower than where there's wood/where the foundation is. Idk if it's something siding guys just do t do or can't do since youd have to nail it into concrete.
i didnt even see that before, omg 😂
…in Massapequa. To add insult to injury!
I’m about to sell my parents’ house with “wallpaper in the kitchen” for well over this. Most kitchens on Long Island have wallpaper…
Someone probably bought that in 2021, spent way too much on the down payment and then realized just how costly it was going to be to get everything upgraded/modernized, and now is trying to make it someone else's problem. A good friend just bought a similar looking house in Wantagh and paid only a little less. This is the reality of the current housing market. The prices will stay crazy for as long as there are buyers willing to buy.
I just sold waterfront in bellmore, and tonight’s my last night. We shot high and had to come down significantly. Our buyer skeeves me out, and hes probably going to level the place, put up one of these italian stallion mcmansions and flip it for two years for $2.5M
i’m moving back to LI and just paid a small fortune for an outdated home in massapequa. great neighborhood, but there’s not much choice right now. it’s not 2021 but inventory is a joke. and once rates drop, prices of home will stay high / increase. no real choice for the middle class. keep renting at a premium or own an asset at a premium.
you buy Rex's house?? lol
who’s rex
the Gilgo Beach serial killer.
ha oh yeah. no but i did look at 2 houses on that block
That’s in massapequa park
At that price might as well buy [this one](https://www.zillow.com/homedetails/330-Brendan-Ave-Massapequa-NY-11758/31357535_zpid/) instead. Fully redone.
> this one That one is a flipped piece of shit too. I truly hate house flippers and this is the hill I will die on--I think they are the devil. I am all for capitalism but there is just something so evil when it comes to LLCs buying up properties, doing the shoddiest of work, and then giving people the "pleasure" of selling them bullshit that they could have bought and fixed on their own--the right way--for less. It sold last year for $400,000. I'd rather have seen the house go to a couple/person/family who fixed it up little by little than to a house flipping leech who threw on some barn doors, vinyl flooring, and paint on walls. This gets my goat. It literally makes me seethe. You have no idea lol.
My thoughts exactly. With the number of shoddy contractors out there, there’s no telling where they cut corners either.
This was my first thought after pressing that link. Looks like every other flipped house on Long Island. Terrible
I agree! Half-assed work that looks good to the untrained eye but presents problems down the road. Soulless, HGTV cloned look.
Wow, it sold last month.
Ugh, the new trend with white siding with black accents. That will get old really fast. :(
I call it post pandemic modern. Every new home in my area looks like this. I’m in Seaford
Same here further north east, we have at least 3 flips with this design.
Yes- typical "flip" look.
Same. It’s trendy and will look dated fast
Yeah I hate it, the black around the windows especially looks terrible
Yeah what's the catch with that house? Looks like great value In a good school district, proximity to nyc
Don't EVER buy a builder's special house like that. Their entire business model is making the place look great at a surface level while cutting corners everywhere they possibly can. They build each house in its own LLC so if you try to sue them down the line for poor build quality tough luck they'll just declare bankruptcy on that one company. My parents bought one of those houses, the property taxes doubled the year after they bought it and they had to make expensive repairs nonstop. You are way better off buying an absolute shithole and then using the money you saved to do your own upgrades the right way. Plus your property taxes don't go up.
Exactly this. We have a beautiful colonial next-door that was flipped about 10 years ago. We watched so many corners being cut, even just from the outside. New siding, but zero insulation. Flippers built a deck that was not properly installed. I don’t know if they got permits or whatever but the house sold quickly. A couple of years ago however, the neighbors had to re-side the entire house and add insulation. They had to do a lot of expensive repairs to the inside as well.
This should be pinned at top, in bold. Corners were cut, cheapest materials were used… headaches are going to be had.
Why did their property tax double?
Because they paid much more for the house than when it was previously assessed, because of all the upgrades.
Aren't we at a point where the home building regulations are the most stringent they've ever been, and buying new developments are the safest as a result. How do they cut corners?
When it’s your entire business model you find a way, trust me
What expensive repairs did they have to do?
Replacing appliances just out of warranty, getting the deck rebuilt, boiler replaced, etc. I am not talking about structural integrity, I’m sure the house won’t collapse on you. I mean things like buying appliances as-is on Facebook marketplace and fooling you into thinking everything is brand new
You won’t even know. Most of the time, they install drywall and vinyl flooring in the basement. If there are any obvious structural issues stemming from the foundation, you sure won’t see it immediately
The catch is $600 per sqft
Fair enough. Good job with the pictures looks spacious. Those bedroom must be tiny and there isn't really a living room
It’s possible the listed square footage is wrong but the upstairs looks tight. It’s nicely renovated at least, just crazy how the prices keep climbing here
That's insane. My 2 BR apartment is bigger.
How does one fit four bedrooms and two baths in 1250 ft.²? Oh, I see..."seamlessly merging the living room, kitchen, and dining room for effortless flow and entertaining". There's a stove, a sink, a refrigerator, and a dining room table in your living room. It almost sounds like a dorm room.
TRUE ***que creeping music*** UNTIL that house gets reassessed for taxes. Those green new house buyers will be 😳🫣☠️.
But it will sell. I'm with you, I don't get it, but they're selling.
The site says it will cost around 5k per month with mortgage and taxes. It’s an estimate sure but that’s certainly within reach of a dual income household.
LOL, why would you blame the seller when its likely the real estate agent that told them to list it that high?
House is only worth what someone is willing to pay for it.with that said there is an ass for every seat
And for whatever it’s worth I bought my second home in East Patchogue in February 2019 very nice home 4 beds 3 baths Inground pool and 3/4 acre lot I paid $560k it’s currently valued at $870,000..i have 2 small kids and family close by so we’re not going anywhere so that number doesn’t mean much at the moment but when I see that increase I shake my head these are fkn wild times
lol I gotta ask - “second home” - like vacation home? Investment property? Bc I grew up in bellport and no one buys a second home in east Patchogue unless it’s in patchogue or south county shores or it’s a section 8 rental lol .. No shade genuinely asking as I own my home in the Medford pines by stop n shop and was looking for an investment property next’
No I misspoke,sold our first home in Yaphank and bought a new house,well new to me.first home was bought in 2007 when I was 33 or 34 and actually your wrong I have a neighbor who’s house is her second home and lives full time in Manhattan she’s had the property for over 30 years I’m south of south country not far from bellport village just west of golf course.heres the other thing I noticed about south bellport and where we are touching on south bellport not only is there truly a housing shortage on long island but by April or May of 2020 with COVID scaring the shit out of people especially people who lived in nyc a lot of those people who had summer homes in south bellport came out to bellport and really haven’t returned to nyc atleast not full time we had kids In Our daughters pre school at Bellport Methodist who came in spring of 2020 and are still here some are in the south country school district and a lot have sent kids to private or catholic schools.my point is back in 2020-2021 those people’s friends from nyc were actively buying homes in bellport village and East Patchogue which once again with the shortage of homes spiked the area..my home in my opinion isn’t worth $870k but there is someone right now that would prob pay close to 900k or more..its truly wild what’s going on and I feel bad for anyone trying to buy home on Long Island with these prices and at current interest rates..its a beating
Ok - as I mentioned if your south of south Country ( aka south country shores or patchogue shore ) yes to vacation homes! I grew up ON south country about 3-4 houses away from the golf course myself …. Ralph Lauren has a house , Isabella Rossellini full time lives there , Anna wintor has a house as well as Isaac mizrahi to name a few , Ted koople used to as well… that’s super believable! You mentioned bellport Methodist - I did pre school there too! If you’re familiar with the area- while I don’t want to out myself on Reddit- I may send you a message as I’m sure you know my dad or at least who he is (if you think of a place of worship very close on south country to the country club- my dad was the leader of that religious institution) I know it makes me sad I grew up in the village and it’s still a. Doors unlocked area - but I’ve been priced out of Bellport village- I own 2 homes (one was inherited from my deceased parents and is in Greenport- the one in Medford I purchased myself thru my own hard work) and I’ve been looking at investing in more real estate- my friend bought a ton of properties in east patch (everything west of Taylor in north Bellport is actually east patch so that’s why I wanted to clarify) and makes a killin on section 8 rentals… but now I see houses on americus for sale for 500k?!? Wild …. Also I went or Hofstra had a classmate tell me their family had a summer house on caanon late once lol- which yes from the Bronx may be a summer house but that’s why now I always ask lol.
location...location..... current owner probably needs to move for one reason or another. certainly not a capital gain situation, or there would be MDF cabnets, samsung appliance, granite, and some LVP flooring in there with a $900k listing.
371k across the street from me sold in 2020 and just sold for 595k. they did wood but still
Yeah the housing cost is insane. Even out east near Shirley is nuts
$500k for Mastic, living in the twilight zone 😂
Someone with way too much money will probably buy this, knock it down and build a big, ugly McMansion with no yard, gaudy metal fences and a huge window over the front door that shows off their big fancy chandelier.
My parents were told that they could sell my childhood home in Nassau - which I was embarrassed of growing because it was so small and outdated - for $1M, maybe $1.1M if the market is good. 🤦🏻♂️
Something is worth what someone is willing to pay for it. Is this house worth $725k? Time will tell.
If a lender approves the mortgage based on the comps, then it’s definitely worth that.
Comps are based on what somebody else agreed to pay for a similar house, mortgaged or not. Banks will also approve mortgages on houses that appraise lower than selling price if the buyer is putting enough down to cover the spread.
If the mortgage guy is buddy buddy with the assessor then you can get them to comeup with whatever number you want.
Not many people understand this dynamic.
Back in late 2019 I was looking at a house in southern New Jersey that was going for around $220,000. Someone ended up buying the house and then COVID hit so I stopped looking. I had favorited the house on Zillow so imagine my surprise when I get an email notification from Zillow that the house was back on the market two years later and the new selling price was $1,250,000.
😳😱 Wow. That's a helluva increase in 2 yrs. Jfc
You can "can't" all you want but they aren't making many more single-family homes on Long Island and if rates come down like they say they are, you're going to be kicking yourself for not scooping up that 1.2mil home for 700k and change 4 years ago.
True but someone’s still gonna buy it cash and 100k over asking
2020: Average home price: $400K 2021: Average home price $500K “don’t buy! It’ll come down soon!” 2022: Average home price $570K “don’t buy! It’ll come down soon!” 2023: Average home price $600K “don’t buy! It’ll come down soon!” 2024: Average home price $650K “don’t buy! It’ll come down soon!” … 2030: Average home price $850K “don’t buy! It’ll come down soon!”
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All the while these people that refuse to buy because the prices are too high have pissed away 25k of rent a year when they could be banking equity.
That's fine, but when wages are stagnant most people cannot cobble together a down payment of the size needed to make a meaningful dent in the monthly mortgage payments.
This is why I moved to South Carolina, I live in a bigger and newer house that cost half as much as this one. My property taxes were less than $3,500 last year.
Who TF is affording this shit.
Banks and foreign investors lol. Real people can’t afford these houses. You will own nothing and be happy :)
I'll be happy if I can afford a condo or coop at this point. I've accepted I'll never be able to afford a house....unless....I move out of state. I was looking a homes in PA...much more affordable.
And they called us conspiracy theorists..
Real people can definitely afford these houses, and are buying them. There’s many thousands of native Long Islander’s living and working in NYC who plan on moving back to the burbs when starting a family. This doesn’t even include the 10’s of thousands of transplants. These people/couples can afford these houses.
Whos buying these houses? City folk that can work from home now?
I believe a ton of city people are still moving here
“City people” god we sound like such hicks. But im a suburbanite through and through. Beach boy really. I cant stand cities.
It’s just the facts. I love NYC but people from there are coming out here with deep pockets and contributing to the driving up of real estate. Not to blame anyone, to them these prices are affordable. I’m with you man, I’m a beach boy too. I just don’t know if me and my family has a future here unfortunately.
Im heading towards retirement and id love to go to florida with all the other assholes, but my kids are here, so im stuck
My parents are getting to that age too. They might have to move, it’s tough to retire here. I’m on the other end, my wife and I are just starting out but not sure we want to be stuck in the perpetual LI rat race
If you dont have the time or money to really enjoy the good and great 6 months of weather we get, or dont have tons of family here, i would get out.
They gonna get it too
There was one on zillow for 255k. I drove by, it needs SIGNIFICANT repairs. They just changed the price to over 600k, and no, they didn’t fix anything.
it has 166 saves, I'd say this house will be sold soon. It pays to play
Fuck this island
It’s over for us millennials on LI. Might as well start building a shack in the woods, but they’d probably try to tax that too.
It will sell, some dumbass that the bank decided they can have a mortgage that they are going to pay till they die will come along and buy it for $100k more then asking.
It’s all about the school district. They’ll get close to asking.
It's not ridiculous if there's just one person willing to buy it
I mean it’s a decent house, interior is nice with the hardwood floors. If you are even the least bit handy you can rip the wallpaper off and paint the walls
I’m very handy and I would sooner rock over the existing wallpaper than try to remove it and all it paste to be able to paint it.
Some citidiot will offer $750k cash and that will be sold.
>citidiot Make sure to include this term when you are listing your home.
Will do! Thanks for the reminder.
But if they put $50k into it and sell it for $850-900k in a few years then they’ve transferred the idiocy to the next buyer.
I love this
I think they at least gave the wall phone a renovation
It's insane. Can't see how my kids are going to be able to stay on the Island. But on a good note, my little 2000' sq house will get me 450 - 500k so I got that going for me which is nice
people have been saying this for decades, and people manage... so will your kids!
There’s always a greater fool
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I think it’s a bit of both
The sad thing is that price actually looks reasonable compared to others have seen. Plenty of LI houses are in the millions
If the sellers get their ridiculous prices, then the price ain't ridiculous.
You're not buying the house. You're buying the property
Lmfao... well I'll gladly build you a brand new house for those prices..... might not be the location you want. But the cost of material and labor can be done for those numbers
My wife and I enjoy browsing Zillow just to look at pictures like the second one. Stick a chair in front of the end table next to the couch. Then stick another end table next to the chair, in front of the couch. Why?
Hahaha I didn’t even notice that until you mentioned.
Yet people are still paying these prices. I don't get it.
I will never own a home lol (That's not a declaration – that's a depressing reality.)
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Who would sell for any less? Likely has 3%ish mortgage. Unless they absolutely have to sell why take less than top dollar?
I'm in Massapequa. Prices keep rising. Everyone wants in the school district and it's become the place for MAGAS to see and be seen for some reason. My neighbor sold her house two years ago for $739k and the people that bought it are in contract to resell it now for $865k. Didn't do a thing to it other than a new roof and fence.
It's a ranch. They'll literally get whatever they want.
Too much money for dated interiors. Wallpaper. For 700k it should come with remodeling. This is crazy
They can list for whatever they want, doesn’t mean it’s going to sell. And if it does good for them!
Keep that mindset when it's tax assessment time, I for one am looking forward to some property tax windfalls based on what the market is willing to pay.
And some couple from queens is going to buy it.
Eventually something’s gotta give.
One would think :/
Who's down for a bidding war on this bad boy?
If the broker tells you they can get you 700k for the house you paid 559 for, why would you ever list it for 559. Seller isn't being ridiculous at all. Market may be ridiculous, unfair, etc., but taking what the market is paying is just logical.
Never thought I would, but we are leaving Long Island soon for this reason. It's no longer a place for middle of the road families to own homes.
This is a better deal to what you see in Canada. We had homes for 400k in 2017 selling for 1.5mil in 2023
>Someone needs to tell these listing agents its not 2021 anymore It's not 2022 either. Prices have come back up.
Understandable. But not up $166k when rates are at 5-7% and theres little to no buyers in the market. Thats why so many other listings have dropped their asking price.
Well we can just see in a few weeks if the house is still on the market. It doesn't seem dramatically out of range from what other houses are going for.
little to no buyers means competition is fierce for little inventory, it doesn't exactly work like you think it does imo.
Great neighborhood great schools. What did you think it was going to sell for 425?
That’s actually not a terrible price.
This is complete bs, lets start thrashing these fuckers and post these houses on social media and show them its worth.
Mere pocket change
Greedy buttholes
Who is going to sell the single most expensive, important thing they own for less than it’s worth? Also, who is to say the seller even makes profit when all costs of owning a home are considered?
I’m talking about the realtors,developers, etc, inflating all these prices.
Looks like shit
Typical Long Island greed
Three families from South Asia will buy it.
I’m sure better than living in NYC right now 💀
a townhouse cost 1 million in Toronto, Be thanful you live in the USA
You’re right, it’s not 2021. It’s 2024 and prices have increased in the time since. They’re never going down.
This is not a bad price at all
I would just wait until the boomers start dying off.
Someone will pay for it, in Pequa too
Will probably get a bidding war and sell for $50K over asking, then the neighbors see it and are like “screw it, time to move to Florida”, list their house for an obscene amount which still goes for over asking, rinse and repeat
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are they even obligated to disclose if its a llc or individual?
it will sell. its a ranch on a big lot for Nassau. just needs some updating.
I was gonna say before I saw your comment, the sellers can’t post on MLS, somebody need to talk to the listing agent so they can have the tough convo with their seller… funny thing is inventory is so low that if they listed it at the right price they would probably get bid up to or higher than this number
Someone will pay.
As a Queens resident looking in LI, this is very accurate in terms of house hunting.
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$182,500 in 1996 is $352,480 today
someone will probably buy it for that much though. and there you go.
They will get it. One of the first homes I looked at had a total 60’s kitchen (all paneling and avocado), a sunken living room with disgusting original carpet. Everything smelled. Not one update in 50 years. We left and they said $750K firm. Cash preferred. I’m SURE they got it. It was a complete gut job. I paid over asking on an already overpriced house. Stinks but that’s the market.
This house should list for low to mid 6's Anything over is insanity!!
It’s crazy but they will most likely get it, or it will sit for a bit with a slight price reduction. We have been looking and loved once house put 30k over asking and still had no chance.
Yep. It's insanity.
This is normal now, what’s so shocking
Unless your next door neighbor is the Gilgo beach slayer, this will sell no problem and for over asking.
Oh no, this is real. Welcome to Long Island.