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Should it be a concern that multiple houses on same block are for sale?

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nicopico13
that year flew!

Member since 11/09

3008 total posts

Name:
Nicole

Should it be a concern that multiple houses on same block are for sale?

I saw a house that I thought was cute, but I'm noticing that there are a lot of other houses for sale on the same block, would this concern you?

Posted 11/13/14 1:27 PM
 
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MegZee
My bunny

Member since 5/06

8770 total posts

Name:
Meaghan

Should it be a concern that multiple houses on same block are for sale?

I would ask a local agent why. ...around the block from me there are like 4 ....but there aren't usually that many...and I know a handful in my area are original owners that are downsizing

Posted 11/13/14 1:55 PM
 

alli3131
Peanut is here!!!!!!

Member since 5/09

18115 total posts

Name:
Allison

Should it be a concern that multiple houses on same block are for sale?

It might but depends on the area. I am in an area with reasonable priced homes and they are starter homes for many. SO there can be a bunch for sale but its not that its a bad neighborhood just that people are moving for more space etc.

Posted 11/13/14 2:20 PM
 

justbeachy
So close....

Member since 7/07

2894 total posts

Name:

Re: Should it be a concern that multiple houses on same block are for sale?

That's interesting. I never really thought about that.

But I realized that in my old neighborhood growing up, all of the kids on our block were the same age. When we all went off to college, many of the parents (my parents included), sold and moved to retirement world. So there was a big move at the same time.

Posted 11/13/14 8:37 PM
 

Faithx2
All good things in 2016!!

Member since 8/05

20181 total posts

Name:

Re: Should it be a concern that multiple houses on same block are for sale?

This is happening on a street we are looking at in Commack. We can't figure out why besides the fact that the taxes are very high.

Posted 11/13/14 11:10 PM
 

MommaG
Yay Spring!

Member since 5/05

5133 total posts

Name:
Gloria

Should it be a concern that multiple houses on same block are for sale?

I noticed in areas hit hard by Sandy there are usually several homes for sale on a block. Could be a flood prone block. There is one block not far from me that is not even near the water but floods all the time because the drainage is poor.

Posted 11/13/14 11:22 PM
 

sunnyplus3
:)

Member since 11/05

8749 total posts

Name:

Should it be a concern that multiple houses on same block are for sale?

The example of starter homes is a great one, home prices in my area are very low for LI so we have a lot of starters. My neighborhood was started ( we have a homeowners association) in 1948 so most of the orginal owners are getting elderly now. Many of them have children or grandchildren that buy their houses but not all of them. Also it's still somewhat seasonal, a few years ago a lot of people that had second homes here sold them probably due to the economy. so it's not uncommon to have a few homes for sale on one block here and it nots because of anything bad

Posted 11/14/14 7:27 AM
 

Faithx2
All good things in 2016!!

Member since 8/05

20181 total posts

Name:

Re: Should it be a concern that multiple houses on same block are for sale?

Look up Handsome Ave in Sayville. My guess is they are getting flooding.

Posted 11/14/14 10:44 AM
 

chilltocam
LIF Adult

Member since 11/11

8142 total posts

Name:

Re: Should it be a concern that multiple houses on same block are for sale?

Posted by Faithx2

This is happening on a street we are looking at in Commack. We can't figure out why besides the fact that the taxes are very high.



I live in Commack and have seen a bunch of houses within a couple of blocks of us go up for sale all within a short time. I don't know why, but I'm not at all concerned about the neighborhood. And a few of them went into contract very quickly (in less than a month). I think that's something to look at too - are they recently listed and selling quickly, or a bunch of stale listings that are just sitting

Message edited 11/14/2014 11:03:55 AM.

Posted 11/14/14 11:03 AM
 

Beth
The Key to your new home....

Member since 2/06

24849 total posts

Name:
Beth

Re: Should it be a concern that multiple houses on same block are for sale?

people tend to list in bunches-

someone see's the neighbor list- and they list

the power of suggestion

or flooding on the south shore for sure

Posted 11/14/14 12:33 PM
 

Kate
*****

Member since 5/05

7446 total posts

Name:
Kate

Re: Should it be a concern that multiple houses on same block are for sale?

Posted by Faithx2

This is happening on a street we are looking at in Commack. We can't figure out why besides the fact that the taxes are very high.



This could be my street. I think people are retiring and downsizing.

Posted 11/14/14 2:44 PM
 

2BadSoSad
LIF Adult

Member since 8/12

6789 total posts

Name:

Re: Should it be a concern that multiple houses on same block are for sale?

It depends, Id definitely ask. With that said, my parents live in a neighborhood that was brand new when they moved in, its over 30 years old now. At the time, all new young families moved in. Most have stayed BUT since they are all about the same age now....there are A LOT of homes for sale simply bc it was new and young at the time and now these peoples young children are grown and they are downsizing but its a GREAT neighborhood so its not indicative of a problem in the neighborhood itself just of the age of the people who live in it.

Posted 11/15/14 2:07 AM
 

MorningCuppaCoffee
Tired!

Member since 12/07

16353 total posts

Name:
Allison

Re: Should it be a concern that multiple houses on same block are for sale?

I don't think it necessarily = problem.

While I do live in an area affected by Sandy, most of the homes that I have seen up for sale are those belonging to older people who have either died or can't manage them anymore.

I also have heard mixed things about people willing to buy here because they may get a good bargain.

Posted 11/15/14 11:09 AM
 

MayBbaby21
Baby no. 3 coming soon!

Member since 6/09

5738 total posts

Name:

Re: Should it be a concern that multiple houses on same block are for sale?

I'd ask realtor if he/she knows anything about the demographic of the owners. Sometimes it's matter of older/elderly homeowners downsizing. The block might be turning over. There is a block near me that has a few houses for sale right now. It's a very desirable area with top rated schools. The taxes in the area are really high though, so I think some people just can't afford it anymore and/or since they no longer have children in the district, they want to relocate somewhere a bit more affordable.

ETA: Or someone on the block did well selling their house and others are now looking to cash in.

Message edited 11/15/2014 4:49:46 PM.

Posted 11/15/14 4:47 PM
 

Christine Braun - Signature Premier Properties
LIFamilies Business

Member since 2/11

3992 total posts

Name:

Re: Should it be a concern that multiple houses on same block are for sale?

I wouldn't assume there's anything wrong with the block or the area. When we moved to our block, the neighbors all said we were the youngest people on the block. Within the next year or so, multiple people sold their homes and moved, and now our block is full of young families with kids. It could just be natural turnover.

Also, as Beth said, one person selling on the block often sets of a chain reaction, prompting others to list their homes for sale. In real estate, we are often taught to target the neighbors when we sell one home because research shows they will be more apt to list their house.

It's always a good idea to research the area you are looking into thoroughly... go at different times of day, talk to the neighbors, etc. But a lot of houses for sale on one block would never make me rule out a home OR deter a buyer client from considering a home.

Posted 11/16/14 12:22 PM
 
 

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