The competition next door

Why would anyone with children spend almost $600K for a house in Westbury when they could find a house with less features in Syosset, Woodbury or Wantagh where school districts are stellar by comparison?? I can't imagine what makes Westbury a great place to live-its' proximity to Old Country Rd, Hempstead Tpke, Nassau Jail or NUMC??

The real estate agents pushed the prices of houses up to the totally ridiculous levels, and they still have a lot more collapsing to do before they have totally bottomed out. The Bush Incompetence will help though, as the US Dollar is fast becoming the worthless US "Peso" so we can use the worthless 'Monopoly Money' to pay off a 10 TRILLION Peso, er ... Dollar National Debt. Just Print More Money !

That's got to be one the most moronic articles I've ever read! Sorry pal, your house isn't selling because of the neighbors....IT'S THE PRICE!!!!!

If you lower the price, they will come.

"Picarello says he did not renew his listing with the realty company when it expired April 15. He is trying to sell the house himself and has lowered the price from $599,990 to $589,000."

Wow, it's reduced a whole 1.8%. That should help.

And so what is this wothless story trying to show the people: greed, stupidity, diversity...?

Long Island home prices are a joke. Come to the midwest -- twice the house, half the price, reasonable cost of living, and a much better quality of life.

Haha, I had to laugh when I saw the guy lower his home price from $599,990 to $589,000. Yeah that's why it was sitting on the market. It's stupidity like that amazes me, the old rediculous stock-market like housing boom is over, thank god. Those of you looking to sell better be in no rush if you are not willing to reduce your price to a buyers market level.

Joseb wrote:

And so what is this wothless story trying to show the people: greed, stupidity, diversity...?

All of the above. People want the 2005 price they paid or their neighbor got when they sold in 2005. They are either to stubborn to admit they missed the boat or paid too much now that they want to sell. Maybe in 4 or 5 years they can get the 2005 price, but not today.

My house has been on the Market for a little over a year. I live in Wading River in a brand new developemtn. Do to family issues i need to seel. I started at 1.1 with Foxtons and now i'm down to 799.00. No one even looked at it in the 1.1 and 900's. I need to sell or I forclose. its a huge brand new house, but i dont know how much more to lower it. At this point you can have it for a dollar, i dont want to forclose!!!!!
In regards to westbury, that is not a good neighborhood. Its right next to New Castle which is not the best area.

two new bedbrooms and an office in the basement - the living room closet that is now a half bath... did he get TOH building permits or COs? if not, expect the selling price to be reduced further. And very complicated at closing (if the buyers have a good lawyer)

No Sales wrote:

My house has been on the Market for a little over a year. I live in Wading River in a brand new developemtn. Do to family issues i need to seel. I started at 1.1 with Foxtons and now i'm down to 799.00. No one even looked at it in the 1.1 and 900's. I need to sell or I forclose. its a huge brand new house, but i dont know how much more to lower it. At this point you can have it for a dollar, i dont want to forclose!!!!!
In regards to westbury, that is not a good neighborhood. Its right next to New Castle which is not the best area.

How much are you looking to get and when will you be able to make the transaction?

Admit it people..... The only buyer stupid enough to pay that much for that overpriced shack you call home, already did !

"In the 2 1/2 years he has lived in the house, Tavarez says he put two bedrooms and an office in the basement, did all the wood paneling, painted, refurbished the fireplace, reshingled the roof and transformed a living room closet into a half-bath... The Melitos say they have also updated nearly everything in their home, even adding a deck..."

I am sure building permits and the ensuing updated Cert. of Occupancy were issued for all this work. 2 bedrooms in the basement, huh? Hmmmm...

Somehow this homeowner has not been able to read, hear, watch on TV, etc., any news at all about the mortgage crisis, foreclosures, and home values dropping like stones. The days of buying a house and in 4-5 years having it sell in a week at an enormous profit are long gone. There is too much of a supply of homes already for sale for this guy to think that people will be having a bidding war for his.

Since he apparently refuses to actually follow the market, listen to realtors who see everyday what is going on in the market, and take new looks at comps in his area, he tends to blame the neighbors.

Syd wrote:

"Picarello says he did not renew his listing with the realty company when it expired April 15. He is trying to sell the house himself and has lowered the price from $599,990 to $589,000."
Wow, it's reduced a whole 1.8%. That should help.

Plus by trying to sell it himself (thinking on the buyers the brokers will bring next door) is just going to hurt is neighboor and himself, because as soon as the broker realize next door is for sale byowner, they not going to show any house in that block, they just don't want to lose their buyer.

No Sales wrote:

My house has been on the Market for a little over a year. I live in Wading River in a brand new developemtn. Do to family issues i need to seel. I started at 1.1 with Foxtons and now i'm down to 799.00. No one even looked at it in the 1.1 and 900's. I need to sell or I forclose. its a huge brand new house, but i dont know how much more to lower it. At this point you can have it for a dollar, i dont want to forclose!!!!!
In regards to westbury, that is not a good neighborhood. Its right next to New Castle which is not the best area.

Look in to the short sale option.

As far as the Melito and Taveras situation, i was surprise to see 15 and 17 months on the market!!!! Are they serious about selling? Are they R.E. agents setting with them EVERY OTHER week and go over wath's going on on their market?
Because if this meetings are taking place, and nothing get's done about the price, than they should expect to on the market another 15 months.

Why can't folks understand the simple and irrefutable concept that a house (or anything, for that matter) is worth EXACTLY what someone is willing to pay for it?

"He is trying to sell the house himself and has lowered the price from $599,990 to $589,000."

Look at how much everyone else is cutting their price by and they still aren't selling.

http://tinyurl.com/66k8fb

This is a BS article; totally misleading the people.

libubble wrote:

"He is trying to sell the house himself and has lowered the price from $599,990 to $589,000."
Look at how much everyone else is cutting their price by and they still aren't selling.
http://tinyurl.com/66k8fb
This is a BS article; totally misleading the people.

just put in accurate info on a house in NHP. sold in 2004. hit prices. didn't work. why am i not surprised