Posts Tagged ‘stats’

Has the Long Island housing market bottomed out?

Thursday, September 24th, 2009 by erik.reilly
has housing bottomed out

Has the Long Island housing market bottomed out?

There is no doubt that the Long Island real estate market is heading in a much more positive direction. Sales of existing homes, pending sales of existing homes and sales of new construction are all up. The media headlines are now mentioning and, in some cases, are exclaiming that we have reached a bottom. However, let’s not lose track of the real data behind the headlines.

Things are better. But, we still have a long way to go. For example, though it is true that nationally new construction sales shot up 11% in June, June has historically always been the best month of the year for this category. And, in actual units delivered, this June was the worst June since 1982! I am not trying to play the role of the pessimist just as I wasn’t playing the role of the optimist this past winter when I said the market wasn’t as bad as the media was reporting. I try to be a realist. What is reality telling me right now? All our hard work over the last twelve months is starting to pay off. Let’s remain diligent in the pricing of Long Island real estate to ensure we keep the present momentum going.

Now might be the time to pull the trigger on that Long Island real estate purchase. According to this year’s National Housing Pulse Survey from the National Association of Realtors:

83% of Americans still believe buying a home is a good financial decision.

75% of those surveyed also believe now is a good time to buy a home, a number that has increased steadily the past two years.

33% of renters are thinking more about buying a home than they were a year ago.

If you have any questions about whether it is the right time to buy or sell Long Island real estate feel free to contact me, Erik Reilly by cell/text 516.984.0789 or email reillyerik@aol.com

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The Wedgewood section of Oceanside NY

Thursday, May 29th, 2008 by erik.reilly

Oceanside
is a hamlet in the Town of Hempstead with a population of app. 32,733
residents.  There are currently 277 homes on the market in
Oceanside.

The
Wedgewood section of Oceanside NY 11572is a quiet neighborhood, which
is bordered on the north by the Waukena Avenue, on the east by Middle
Bay Golf Course and Country Club, on the south by a Nature Preserve and
the on the west by canals leading out to Middle Bay.  Most of the
homes in this area are Split levels or Hi Ranches. There are a few
ranches as well. Some homes have basements and two car garages.
All the homes are three to five bedrooms, 1.5 to 3.5 baths.  The
lot sizes range from app. 60×100 to 80×220. Some of these homes have
lovely backyards and bulkheads on Bedell Creek offering easy access to
Jones Inlet and the ocean.  Others homes border and have lovely
views of the golf course, the Nature Preserve or the bay. Children
attend Boardman elementary school #9, Oceanside Middle School and
Oceanside High School.  There are currently five homes on the
market. They range in price from $549,000 for a three bedroom, two bath
split level with taxes of approximately $10,000 to a diamond condition
4 bedroom 3.5 bath split asking $849,000with taxes of $15,700. One of
the homes currently on the market is a splitlevel with waterfront
property at the end of one of the canals with an asking price of
$679,000. It has been on the market for almost six months.  In the
last six months there have been two sales- a large waterfront split
level with 4 bedrooms, 3.5baths and an in ground pool which sold for
$850,000 after 62 days on the market.  Taxes were approximately
15,000 per year.  The other home was also a large Split on 82×114
property with taxes of $12,599.  The house asked $675,000 sold for
$635,000 and was on the market for 79 days until full contract.


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Posted in Buyer Information, Oceanside NY 11572, Seller Information | No Comments »