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Michelle
My Little Yankee Fans
Member since 1/06 4018 total posts
Name:
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Have home prices increased since July?
We had a market analysis done in July and there were alot of comps that were incomplete since they did not close yet. We were given a range but of course they said that it would change after those houses closed.
So have prices gone up, stayed the same or gone down.
On average how long is it taking to sell a house these days?
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Posted 10/20/09 8:01 AM  |
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GoldenRod
10 years on LIF!
Member since 11/06 26792 total posts
Name:
Shawn
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Re: Have home prices increased since July?
Posted by Michelle
We had a market analysis done in July and there were alot of comps that were incomplete since they did not close yet. We were given a range but of course they said that it would change after those houses closed.
So have prices gone up, stayed the same or gone down.
On average how long is it taking to sell a house these days?
http://money.cnn.com/2009/10/20/real_estate/home_price_forecast/index.htm
NEW YORK (CNNMoney.com) -- If you thought home prices were bottoming out, you may be wrong. They're expected to head a lot lower.
Home values are predicted to drop in 342 out of 381 markets during the next year, according to a new forecast of real estate prices.
Overall, the national median home price is predicted to drop 11.3% by June 30, 2010, according to Fiserv, a financial information and analysis firm. For the following year, the firm anticipates some stabilization with prices rising 3.6%.
This doesn't necessarily dictate local house prices for a particular neighborhood, though.
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| Posted 10/20/09 9:13 AM |
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SpiceGirl
Dream big
Member since 1/06 2486 total posts
Name:
j
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Re: Have home prices increased since July?
.
This doesn't necessarily dictate local house prices for a particular neighborhood, though.
There are so many variables, especially on LI.
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| Posted 10/20/09 9:19 AM |
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lakadema
LIF Adult
Member since 5/08 1180 total posts
Name:
Danielle
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Re: Have home prices increased since July?
Honestly, if you price your home to sell, it will sell quickly. If you don't, it won't.
ETA: I have noticed that prices have gone up slightly in my area(Npt. Village) but it doesn't seem the homes are moving very fast.
Message edited 10/20/2009 9:25:56 AM.
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| Posted 10/20/09 9:25 AM |
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Michelle
My Little Yankee Fans
Member since 1/06 4018 total posts
Name:
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Re: Have home prices increased since July?
Thanks, we are already planning on pricing to sell it, but I didn't really want to go much lower then what we were told in July.
Even the RE agents we spoke to had a hard time giving comps for the house since it is so varied.
Thanks for those links I will check them out.
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| Posted 10/20/09 2:36 PM |
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Lyssa
LIF Zygote
Member since 10/09 29 total posts
Name:
Lyssa
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Re: Have home prices increased since July?
Michelle, the prices have not really dropped much since July, but the sold prices of the houses that were incomplete back in July will impact your selling price now. Also if there have been any foreclosures in your neighborhood, that could impact your selling price as well. As for how long it is taking to sell homes these days, well that really varies on how agressively you price your home, the condition of your home and the location of your home. In the market analysis that your agent has done for you it should show you the "DOM" or Days On the Market, for the July time frame. That might give you some sort of indicator, but again that could be different now in October. You should deffinately have another Market Analysis done so you can see where you are.
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| Posted 10/20/09 11:36 PM |
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gerdee
LIF Zygote
Member since 2/08 22 total posts
Name:
G
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Re: Have home prices increased since July?
LI Home Prices are in for a real reality check over the next 12 months..look for an additional 10%-20% drop in home prices...if your planning on buying soon, wait another 6-12 months....im telling you a real estate storm is brewing here on the island...
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| Posted 10/21/09 2:28 PM |
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Samson7256
LIF Infant
Member since 5/06 93 total posts
Name:
John
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Re: Have home prices increased since July?
You have to select NY and then Nassau-Suffolk as the region to get the break down for our area. The article is predicting a 13.5% decrease from June 2009 to June 2010 & then another 5.1% decrease from June 2010 to June 2011.
Nassau-Suffolk, NY
Forecast change: June 30, 2009 – June 30, 2010 -13.5%
Forecast change: June 30, 2010 – June 30, 2011 -5.1%
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| Posted 10/21/09 3:07 PM |
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Melmel821
Love being a mom!
Member since 5/08 2776 total posts
Name:
Melanie
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Re: Have home prices increased since July?
If they don't extend the first time home buyers credit, be prepared for prices to go down. I think a lot of first time buyers were in the market for the credit and without that, I think less will be buying.
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| Posted 10/21/09 4:02 PM |
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