ridiculous price of real estate

[allen levine]

we have been in this small house since 1989
our friends down the block, marty and judy have also lived here same amount of time and we are both looking to move within the next few years.
they made an appt to see a model condo for 55 and over community around 45 minutes from us further east.
they are townhouse type condo attached on both sides.
we were going to join them, but ended up with the kids today.
anyway, 2 bedroom 2 full bath condo, 1200 sq feet. 12 thousand a year in taxes, and 775 homeowners association fees monthly. 710 thousand and the corner units are more.
upstair units have a small loft and downstair units have full basement, basements arent finished but can be for around 60 thousand more.
as soon as I heard no covered parking, no garages, not for me, but at that p;rice, its approaching absurdity.
that is eastern long island, not the hamptons and the ritzy areas, middle class area, clean, good schools, but I find that ridiculous. Ill stick where I am if prices stay where they are

 

[Dave Hawksford]

Mike Shelly and I are looking in the Myrtle area. It time. Price drop is bettering SC .

 

[allen levine]

My wife will never move out of Long Island
With the grandkids here

 

[Darren Wright]

Really makes me appreciate my tax bill, 126 acres, including the house/buildings, $300 per year. Don’t get me wrong, we don’t have any county services other than fixing the roads when they really get bad, but that is why we have tractors.

 

[Mike Stafford]

43 years ago last July we bought a little 1400 square foot cottage on stilts in Kill Devil Hills. This little shack was sheathed in T-111 siding on the outside and T-111. siding on the inside. Three postage stamp sized bedrooms, two little baths (one up and one down) a kitchen and great room area combined. Obviously not too great if the entire house is only 1400 square feet. There is a deck on the front and another on the back. You can see wonderful sunrises and sunsets from those decks. If you stand on your tippy toes in one corner of the front deck you can almost get a glimpse of the ocean. Our house is on the third row back from the street which separates the million dollar houses on the beach front from the shacks that are not. We paid the exorbitant prices of $39,999 for that little house.

Today the taxes are more than that annually... (not really, I am exaggerating a bit) We get offers all the time to pay us huge sums of money for the property. The people who want to buy this little house are not remotely interested in keeping it. They will tear it down and build two houses on the lot since it is large enough for two fairly substantial houses.

In the time we have owned it at least 15 hurricanes have passed over the Outer Banks and countless other tropical storms. We lost a few shingles several times and once had our deck furniture was blown away because the management agency we use to rent the house forgot to secure it. The most damage we have ever had came from a snow storm during a winter Nor'easter that blew snow in through the gable vent. The snow melted and ruined the ceiling. We had to pay for new sheet rock and paint. The paint on that T-111 siding must be close to 1/2" thick by now. You can no longer feel the texture inside or out.

If we did not rent the house we could not afford to own it. The taxes are just outrageous. We use it for two weeks during the summer and few more times during the fall and spring when there is less demand by renters.

The government owns our beach cottage and the house we live in as well as my shop and everything in it. If you don't believe that is true just fail to pay your taxes. Big men with guns will come and take your property away from you.

 

[Jonathan Shively]

You are so correct Mike in the assumption we aren't landowners, we are land renters.

 

[glenn bradley]

In my area if you didn't buy pre-COVID you are seriously adjusting your plans. Starting 6 months late on my new shop doubled the estimated cost, removed all optional wants, and a couple of "really wanted that" items. Still happy. Houses on 1/2 acre and up are nearly double what we paid a few years ago. New homes in planned communities on postage-stamp lots are pushing $1M, are built with the lowest quality cabinetry and fixtures I have ever seen in a model home, and the first two phases are sold out. Who are these people???

 

[allen levine]

The housing bubble in ny is going to bust eventually
My small house has never seen a decrease in price due to the location and small size makes it approachable for younger couples
We never intended on staying here
I had just purchased a pharmacy and then the building
My wife got a job around the block and that kept us here
We will move eventually
Will pay cash no mortgage

 

[Darren Wright]

In my area if you didn't buy pre-COVID you are seriously adjusting your plans. Starting 6 months late on my new shop doubled the estimated cost, removed all optional wants, and a couple of "really wanted that" items. Still happy. Houses on 1/2 acre and up are nearly double what we paid a few years ago. New homes in planned communities on postage-stamp lots are pushing $1M, are built with the lowest quality cabinetry and fixtures I have ever seen in a model home, and the first two phases are sold out. Who are these people???

Many of them have moved to the Midwest and drove up our prices. We’ve been having our realtor send us listings for KC for an investment property there to use when we have to go up. So far even the crappiest houses are over the budget we’ve set. Things should be changing in the upcoming fall winter months, hopefully.

The housing bubble in ny is going to bust eventually
My small house has never seen a decrease in price due to the location and small size makes it approachable for younger couples
We never intended on staying here
I had just purchased a pharmacy and then the building
My wife got a job around the block and that kept us here
We will move eventually
Will pay cash no mortgage

Between the interest rates and the 200% assessment increases that many cities are doing, the bust is in progress.

 

[allen levine]

We live in valley stream a few years back I don't recall but Forbes or fortune magazine rated valley stream the number one area to live in New York state
Why I don't know but that publicity sent home prices soaring and it hasn't gone down yet
And what was it back in 08 when the housing bubble broke we didn't see any significant decrease in home values here

We are one of the luckier towns on long island
The bulk of taxes are paid by commercial establishments
We have a massive mall here and that helps

 

[Frank Fusco]

I won't talk about where I live. You all would want to move here and my little town is growing too much already.

 

[Don Baer]

I won't talk about where I live.

I have a cousin who lives in your town and she is constantly trying to get me to move there.

 

[allen levine]

I won't talk about where I live. You all would want to move here and my little town is growing too much already.

if it wasnt for the price of real estate, Ill stand b y long island is probably one of the best places in america to raise a family and live. yes, its expensive, but we have the best of everything else. beaches, shopping, restaurants, healthcare, school districts,law enforcement, and if you want the big apple, its a 30 minute train ride, or 45 minute car ride. (we dont go to nyc that much anymore so thats not important to us)

 

[Chuck Ellis]

I won't talk about where I live. You all would want to move here and my little town is growing too much already.

Same with Tellico Plains... too many people, not enough real estate.... when we bought here in 2002, our realtor was very apologetic about the tax bill... she said the taxes were high... when asked how high, she said $285 per year.... we do live in a double wide that is permanently mounted on a cinder block foundation with a concrete porch on the front and a large screened back porch with a smaller deck off to the side, all sitting on just under an acre... problem is that the back party of the lot is more vertical than I would like and about 1/3 of the lot is wooded. I laughed when she told us how much the taxes were... I was paying more than that per month in Houston. In 23 years, property tax has gone up almost $100.