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Spin-off: Not so desirable neighborhood thread
I know this is probably a dumb question right now, but are houses selling at all in Sandy-hit or areas at potential risk of future hurricanes?
I've heard a few people IRL tell me they would consider buying if they could get a really good deal on something that would normally have been out of reach prior to the hurricane.
I also know that a lot people are doing upgrades to their homes in general, even if the damage was minimal (i.e. basement flooding). Lots of my neighbors are, and we are going to as well.....basically a lot of people seem to be taking on the attitude that if I can't sell now, I will make it into my "forever home" and maybe try my luck if the market opens back up.
Message edited 8/7/2013 7:25:15 PM.
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Posted 8/7/13 7:23 PM  |
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DiamondGirl
You are my I love you
Member since 7/09 18802 total posts
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DiamondMama
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Spin-off: Not so desirable neighborhood thread
I read an article about the Rockaways and they are, I think priced have been effected somewhat but they are selling.
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| Posted 8/7/13 10:12 PM |
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sunnygirl
loving life
Member since 1/07 5413 total posts
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D
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Re: Spin-off: Not so desirable neighborhood thread
Posted by DiamondGirl
I read an article about the Rockaways and they are, I think priced have been effected somewhat but they are selling.
yes homes are selling here, prices are down but not as far down as you would think
I have seen homes that need to be stripped bare and people are asking for a crazy amount and want cash!
But in general yes homes are selling at least in the rockaways
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| Posted 8/7/13 11:06 PM |
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halfbaked
LIF Adult
Member since 8/12 6937 total posts
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Re: Spin-off: Not so desirable neighborhood thread
Posted by sunnygirl
Posted by DiamondGirl
I read an article about the Rockaways and they are, I think priced have been effected somewhat but they are selling.
yes homes are selling here, prices are down but not as far down as you would think
I have seen homes that need to be stripped bare and people are asking for a crazy amount and want cash!
But in general yes homes are selling at least in the rockaways
A lot of them require cash as the banks won't give you a mortgage for these damaged properties.
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| Posted 8/8/13 8:57 AM |
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sunnygirl
loving life
Member since 1/07 5413 total posts
Name:
D
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Re: Spin-off: Not so desirable neighborhood thread
Posted by halfbaked
Posted by sunnygirl
Posted by DiamondGirl
I read an article about the Rockaways and they are, I think priced have been effected somewhat but they are selling.
yes homes are selling here, prices are down but not as far down as you would think
I have seen homes that need to be stripped bare and people are asking for a crazy amount and want cash!
But in general yes homes are selling at least in the rockaways
A lot of them require cash as the banks won't give you a mortgage for these damaged properties.
I know they have to ask for cash but you would think they would lower their prices a little bit
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| Posted 8/8/13 2:42 PM |
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Re: Spin-off: Not so desirable neighborhood thread
Posted by sunnygirl
Posted by DiamondGirl
I read an article about the Rockaways and they are, I think priced have been effected somewhat but they are selling.
yes homes are selling here, prices are down but not as far down as you would think
I have seen homes that need to be stripped bare and people are asking for a crazy amount and want cash!
But in general yes homes are selling at least in the rockaways
It's not just about wanting cash buyers. They need to get all cash because the houses aren't mortgageable, unless the buyer is willing to do a rehab loan, like a 203(k).
In my experience, in areas like Bellmore, Merrick, Seaford, houses south of Merrick Rd. are still selling, but prices have been affected a bit. It's still a little too soon to really analyze the effect of the storm on the market, imo. But there are people who still want to live in those areas, esp. in waterfront properties (some people just want that lifestyle, some people have boats, etc.).
But in these areas, the price of homes north of Sunrise in areas like N. Bellmore and N. Merrick have been driven up by the increased demand, for sure!
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| Posted 8/8/13 6:01 PM |
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Re: Spin-off: Not so desirable neighborhood thread
It's interesting because you go down some of those blocks that are on canals, and they are doing total renos not to mention raising the houses completely.
I am sure that can still attract a buyer.
Especially if they don't have to be responsible for the work.
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| Posted 8/8/13 7:00 PM |
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