New York

[Real_Estate]

Those who are looking must know ....

[michael-daly]

From this (Redfin real estate market manager) perspective; we are seeing an uptick in viewings.

prices are flat to down and are not seeing any appreciation at this time, so it still is looking like a buyers market.

That being said, there IS some competition for the best deals, so don't be too casual if you come across one...We'll help you navigate through the maze if you need it.

[pandy1021]

Yes - as far as I can see I think the answer is sitll yes. Their market is a little bit different from before - but it still is okay. Well if you ask others, they would actually answer diferently - because they see the market in different opinions that they can think of.

[buyinghouse]

Dead to me! It seem the forum is too!

[michael-daly]

Hey Mr Doe-

Interestingly enough, this past week was a record for us in terms of new offers.

Seems like we had a big influx of new buyers in July and August who are now making purchases.

At the same time, we are seeing another wave of new buyers.

The challenge is that the inventory is down and  while there are lots of homes on the market, there are not as many well priced homes available, so competition is fairly keen for homes in Northport, Huntington, Bayside and Garden City.

Another interesting point is that more and more would be sellers can't afford to sell the homes that they bought in 2005-2008 because they are underwater and they might not be willing to list as a Short Sale, so many of these homes are just sitting on the market.

Lastly, the pause caused by the banks negotiating the forclosure mess with the government has put lots of people on hold- wwaiting to see what happens.

So, yes, it is still a buyers market, but you need to have a willing seller to be sucessful.

Best,

Mike

[orlandoara]

Hello Mr. Daly

  I just want to ask if when you say that competition is fairly keen for homes in Northport, Huntington, Bayside and Garden City.

Does this mean that the market is moving in these areas in terms of people saling or people buying? or just that you see activity in this areas more so than others.

Carlos

[HunterC]

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orlandoara wrote:

Hello Mr. Daly

  I just want to ask if when you say that competition is fairly keen for homes in Northport, Huntington, Bayside and Garden City.

Does this mean that the market is moving in these areas in terms of people saling or people buying? or just that you see activity in this areas more so than others.

Carlos

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Hi Orlandoara,

I'm currently close to closing on a house in Bayside. Not sure if this info is useful, I was looking around the Bayside, Auburndale, and ajacent areas as well as New Hyde Park during my search. I can tell you that in Bayside, if a house is being listed at an average price (sorry for being subjective here) compared to other prices of comparable  houses i.e. size/structure/rooms/etc. and it's in good condition i.e. some real revenovation done recently, it will sell within 2 months of listing guaranteed. Most of the houses that I saw during my search were being sold by older folks looking to unload, and as you can imagine the conditions weren't quite move-in ready for me at least. So while there are buyers, only a small subset of houses are actually attracting real buyers with the intent to complete the purchase. One might think that the properties that are not selling would lower their prices, but I can tell you that it wasn't the case from what I saw, unless you consider a 30k-40k discount is enough to cover a leaky basement, 100 layer paint on the wall, and multi layered roofs, green tiled bathrooms....etc...

As for the adjacent areas for me my goal was to buy in Bayside due to the schools, and I just didn't feel that the slightly lower prices of homes in the adjacent areas were worh it.

For New Hyde Park, I can tell you for sure that the housing market is not even comparable to Bayside. There were houses that I thought were really nice with asking prices in the mid 400s with no serious bids. In the end I still decided to purchase in Bayside because I just like the area more, i.e. convenient yet quiet, 

[michael-daly]

Hi Carlos-

Those are a few of the areas on Long Island that we are seeing a peak of activity. Buyers and sellers are coming to terms on properties.

There are a still a many overpriced homes on the market where the sellers are priced too high and they are not getting any activity. Those homes just sit until they come down in price.

Best regards,

Mike

[orlandoara]

Michael thank you for your response , I have an other question for you, this mY not be you area , but but support at redfin has not answer it yet.
Is there a way to see the Days On Market for properties that were already sold ? When I look at the site to do comparable I can't get proper comps because there is no DOM for sold properties.
Thank you again.
Carlos.

[Matt]

Sorry, we're not allowed the show the days on market once the home has sold.