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VanderZwang
LIF Adolescent
Member since 2/11 740 total posts
Name:
Gail
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To anyone who has a house at 1MM or more
Can you please send me an FM. I am in the maket for a house, looking at about the 1MM mark (to about 1.2-ish) and have some questions.
Thanks!
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Posted 8/8/11 1:21 PM  |
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Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
JandJ1224
Member since 6/06 5911 total posts
Name:
Jannette
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Re: To anyone who has a house at 1MM or more
What town are you looking in? What are you budgeting for taxes?
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| Posted 8/8/11 4:11 PM |
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smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
Name:
me
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Re: To anyone who has a house at 1MM or more
Plenty of houses on market in that price range. What Qs do you have?
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| Posted 8/8/11 4:49 PM |
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VanderZwang
LIF Adolescent
Member since 2/11 740 total posts
Name:
Gail
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Re: To anyone who has a house at 1MM or more
The whole questions are: where to look and what are the taxes like.
We are living in a house right now (renting) and the taxes are 26,000. The house is in Old Beth Page and is the nicest on the block (re-done from the 80's so still holds the old taxes). it is selling for 1m but we are NOT buying the house.
So our price range is 1 to 1.2. I would love to know if anyone has made any lowball offers on 1.5 houses and what kind of response they have gotten to some lowball offers. Our real esate agent said to go for it and see what happens. Im NOT saying putting a bid of 1MM in on a house thats 1.6. But just curious as to the response with negotiation.
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| Posted 8/9/11 4:31 PM |
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smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
Name:
me
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Re: To anyone who has a house at 1MM or more
Look into redfin.com You can do a filter search. usually it shows the taxes but you would need to call to verify the taxes.
There are many areas to buy houses for that price range. Old Bethpage, Old Wesbury, Woodbury, Cold Spring Harber, Bayville, Syosset, Bethpage, Oyster Bay Cover, Huntington Bay, Brookville, Muttontown. Those are not that far from you are right now.
Do you want to stay in Old Bethpage? Do you want to stay on North Shore? Do you need to commute to the City?
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| Posted 8/9/11 4:51 PM |
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annoyedTTCer
LIF Adult
Member since 4/09 3272 total posts
Name:
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Re: To anyone who has a house at 1MM or more
Posted by VanderZwang
The whole questions are: where to look and what are the taxes like.
We are living in a house right now (renting) and the taxes are 26,000. The house is in Old Beth Page and is the nicest on the block (re-done from the 80's so still holds the old taxes). it is selling for 1m but we are NOT buying the house.
So our price range is 1 to 1.2. I would love to know if anyone has made any lowball offers on 1.5 houses and what kind of response they have gotten to some lowball offers. Our real esate agent said to go for it and see what happens. Im NOT saying putting a bid of 1MM in on a house thats 1.6. But just curious as to the response with negotiation.
Won't get very far with lowball offers on luxury properties since those owners tend to not need to sell due to pressing financial needs.
At least this is what we were told when looking on east end.Right now the deals are mostly in the sub $550k areas
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| Posted 8/9/11 5:29 PM |
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Goobster
:)
Member since 5/07 27557 total posts
Name:
:)
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Re: To anyone who has a house at 1MM or more
Posted by annoyedTTCer
Won't get very far with lowball offers on luxury properties since those owners tend to not need to sell due to pressing financial needs.
At least this is what we were told when looking on east end.Right now the deals are mostly in the sub $550k areas
ITA, I know the market well as I had been looking over 3 years (and kept an eye on ALL price points of houses in the area I was looking at). In the 3 years, I have watched specific houses' prices decline. Many houses came on the market in the higher time and then went off when they didnt get their insane "let me see how high I can get" $$. Now some have come back on, I guess they finally decided to sell or have to sell, and they are coming on about $250,000 lower than what they were asking 3.5 years ago.
But I was told the same thing with one house that was very high, the owner did NOT have to sell therefore wasnt compromising at all on price. I told them it was priced too high, and sure enough, 3 years later...she is back on about 150,000 lower than she was asking. I guess she finally got realistic.
Message edited 8/9/2011 6:42:07 PM.
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| Posted 8/9/11 5:41 PM |
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Chatham-Chick
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Member since 5/05 10312 total posts
Name:
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Re: To anyone who has a house at 1MM or more
I see nothing wrong with offering 200K+ less than asking price, especially if the home has been on the market for a while. There have been a number of homes in my area that started out at 1.6+ and have now gone down to 1.3mil in a year's time.
Message edited 8/9/2011 6:34:21 PM.
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| Posted 8/9/11 6:34 PM |
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-Lisa-
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Member since 5/05 6530 total posts
Name:
Lisa
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Re: To anyone who has a house at 1MM or more
It doesn't hurt to try - you can FM me for more info. We're closing on Friday 
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| Posted 8/9/11 9:06 PM |
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maybesoon
LIF Adult
Member since 9/09 5981 total posts
Name:
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Re: To anyone who has a house at 1MM or more
I love old bethpage (living here now) so I am totally biased 
My Bil and many friends live in syosset, great area but much more "busy" .soooooooo many people moving to syosset from queens that have mega huge families (grandparents inthe house, extended families)
Old bethpage is so peaceful and is a better area imo
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| Posted 8/9/11 9:48 PM |
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maybesoon
LIF Adult
Member since 9/09 5981 total posts
Name:
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Re: To anyone who has a house at 1MM or more
To answer your question It think you will have a shot at a good deal if it's been on the market a while. I def think 200k lower to start if it's been on market for a while
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| Posted 8/9/11 9:51 PM |
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itsbabytime
LIF Adult
Member since 11/05 9644 total posts
Name:
Me
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Re: To anyone who has a house at 1MM or more
Depends alot on the area and the demand in that area for that price range. But, this is what I found - when you have looked in the same area for a while in a certain price range you know what you should get for that price range. You can tell if a 1.5 house is a 1.5 house or not. If the house is priced right - in the area I was looking - no way will they take that much less - there is still alot of demand out there in some of the more expensive areas. However, there are always a few homes where the sellers don't listen to the broker and the house is ridiculously over priced - those houses usually come down. We looked within $100,000 upwards of our price range. Even then, we paid asking for the house we just bought. We had to if we wanted it b/c there were 4 other offers after less than a week on the market.
I guess my point is - I would really look within $100,000 of your price range unless you want to waste time - you will be able to tell from looking at it once you have experience in the area - a ballpark of what it should be worth. Unless the house has been on the market for more than a few months - that is usually a pretty good indication that it is either way overpriced or something is wrong and then you might get a better deal. Also, on listing book you can watch for price reductions and move immed when you see them to look at the house.
HTH!
Message edited 8/10/2011 12:40:12 AM.
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| Posted 8/10/11 12:38 AM |
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