Month: May 2009

Open House Report – 155 Cooper and 19 Nehring

Debra did her house report, so here’s mine. Better late than never. 155 Cooper Street MLS# 2183404 – Zillow Page Ask $349,000 4 bedrooms – 2 bath Taxes: $6,300 – Village Taxes: ? Sometimes, I think, you really want to try to see what a house was or what it could be, rather than what it currently is. 155 Cooper Street is a classic home from the halcyon days of turn of the century Babylon. What it could be is a restored beauty within easy walking distance to the train and nestled in the heart of the village. What it is, unfortunately, is a decrepit, ramshackle house that has been sadly neglected for decades and currently serves as a flop house. I think that this is the first house that I’ve seen that is actually unlivable. This is despite the fact that at least a half-dozen people are, in fact, living there. The Realtor notes in the listing that the house needs some TLC. What it needs is a complete, top-to-bottom renovation including new kitchen, baths, windows, siding and a completely new electrical system. The electric in the house looks like it hasn’t been upgraded since the house was first electrified, probably some time in the 30’s. It sports “classic” push-button light switches from that period and wiring run on the outside of the walls. On the other hand,...

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House Report – 2 Edward Ave

2 Edward Ave MLS# 2185361 – Zillow Page Ask $419,000 Previous Sales: 02/25/2003 – $280,000 3 bedrooms – 2 bath Taxes: $7,431 – Village Taxes: $761.62 I was really excited about this house, first posted on MLS last week, as it’s in our price range and the photos on MLS looked good. I didn’t want to wait for an open house because I was afraid it might sell quickly, so I arranged to view the house last weekend. And in the end, I liked the house a lot, but the bedrooms were just too small for us. The house listing read to me as a three bedroom two bath, with office. Which sounded perfect to me, other than I’d like a family room or den as well, but in our price range that’s becoming a bit of a pipe dream. However, the third bedroom IS the office. It’s a typical cape floor plan, but people expand houses all the time, so I was hoping there really was a third bedroom plus separate office. In reality, the third bedroom is downstairs, across from the living room, and it’s perfect as an office, as there’s room for two desks and shelving, or one desk and some bookcases. I guess you could wedge a twin-size bed in there but not much else. Certainly not a bed and a desk. The bedrooms upstairs...

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Hump Day Thoughts And Links

This past weekend was reasonably productive, from a real estate perspective. We saw three houses, 19 Nehring, 155 Cooper and 2 Edward. Actually, it was only I who saw Cooper and Nehring. Deb stayed home for those. We tried to go see 78 Wampum, but the Realtor must have closed up shop and bugged out long before the scheduled end to the open house. Write-ups are in the works, but may not be up until late this weekend. I finally got to meet my Realtor, Tom McGiveron. He was at the Nehring open house and we got to spend some time chatting about the real estate market in general and my needs in particular. I’m back at work today, after taking a few days of respite. It was nice to have some time to spend with my wife and daughter, but it’s good to be back at work. I get to missing it after a while My Personal Credit Crisis [NY Times] Are sub-prime mortgages, liar loans and bad real estate decisions something just for the poor and uneducated? Nope. NY Times economics writer Edmund Andrews writes about his process of one bad financial decision after another. Although, unlike most of the poor saps out there, he gets to recoup some of the damage by writing a book about it. Long Island Has The Highest Foreclosure Rate In New...

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Prices And Overpricing

Via the Long Island Business Blog, we note that in Forbes Magazine’s list of the USA’s most overpriced regions puts Long Island, N.Y. at number 7. No. 7: Long Island, N.Y. – (Nassau-Suffolk, N.Y.) Cost of Living: 40 of 50 Housing Opportunity: 48 of 50 Unemployment Rate: 17 of 50 Average Salary: 24 of 50 Indeed, though the median home price in the Los Angeles metro area has dipped from $525,000 to $319,000 over the last two years, Angelinos still face one of the least affordable housing markets in the country. According to the NAHB/Wells Fargo’s Housing Opportunity Index, only New York, Long Island, N.Y., and San Francisco are more expensive. Obviously we talk a lot about prices here on HIB. It’s one of our favorite subjects. There’s been a lot of back and forth about this in the comments of late and I just wanted to weigh in a bit. It’s really hard to know where prices are, at least in the short term. Median prices in the Village did actually go up a bit, but that’s very misleading. When you’re talking about a very small area with a small number of sales, changes in the median price reflect more a change in the mix of housing sold. Two metrics we can look at, inventory and the difference in selling vs asking prices, point to a continued and...

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Thunderbird And Ford Show

The Long Island Thunderbirds Club is having their annual Thunderbird and Ford show, July 19th at Syosset Ford. All year Thunderbirds as well as all Ford products are welcome. Go on over to litb.org for more information. Yes, this is a little out of HIB’s core competency, but my Dad is the President of Long Island Thunderbirds Club. In fact, that’s his car over on the right, so there you have...

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May 2009
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