Month: June 2009

Sold Homes In Babylon Village – April 2009

Hi everyone. It’s Case-Shiller day! The day when S&P release their housing index numbers for April. So…how are we doing? Prices Stabilize, But Housing Trouble Still Looms [Forbes] Home prices in 20 major cities tumbled an average of 18.1% in the last 12 months, off 33% from their 2006 peak, according to the Standard & Poor’s/Case-Shiller home price index released Tuesday. The 10-city index fell 18% from a year earlier, with a similar decline from the peak. Home values are now at 2003 levels. While April was the third month in a row in which the pace of decline slowed, just 0.9% from the month before, other data point toward more housing trouble ahead. Hmm…not so good. How about locally? A Look at Case-Shiller Numbers, by Metro Area [Wall Street Journal] “It is important to understand that these indices are constructed using non-seasonally adjusted sales prices, and therefore when housing activity perks up seasonally in the spring and summer months, any effect on selling prices would not be adjusted out of these data,” said economist Joshua Shapiro at MFR, Inc. “In fact, in 2008, after dropping by an average of 2.4% per month in the first quarter, the composite 20 city index than registered average month-to-month declines of 0.9% during the prime spring and summer selling season before reaccelerating to post an average 2.2% monthly decline in the final...

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Open House – 31 Greenway S

OK, still getting caught up here. This is a house we saw two weeks ago. Apropos of nothing in particular, every wall was covered in nautical-themed items; anchors, oars, ropes, ships, sea scapes, you name it. I know that Babylon is a shore town, but you need to show a little restraint. 31 Greenway S. MLS# 2163798 – Zillow Page Ask $399,000 3 bedrooms – 2.5 baths Taxes: $8,725 – Village Taxes: $888.18 This is another one of those “I liked it and Debra…not so much” houses. A quaint little cape on a corner lot in the Fred Shores area of Babylon, 31 Greenway is an odd house with some interesting features and a few drawbacks. The layout is a little different than your usual cape. There are two bedrooms downstairs, while the upstairs is one large master bedroom. The space around the stairway is set up as a nice, sitting area, with chairs, book cases and a small writing desk. It was a little warm up there and I wonder how hot it gets on a really sunny, Summer day. The dining and living rooms are nice enough, but the real issue is the kitchen. Again, we find the same crappy cabinets that our apartment has, but this time they’re accompanied by ugly, purple laminate counters and stuffed into a cramped, little galley kitchen. The kitchen really needs...

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Open House Report – 78 Wampum and 78 Livingston

We saw these houses almost a month ago, way back on My 31st. This just goes to show you what a damn slacker I’ve been. I’ve got another old open house — 31 Greenway — to write up and we’re going to see some houses this weekend, so I hope to have more content for you soon. 78 Livingston Ave MLS# 2138891 – Zillow Page Ask $389,900 4 bedrooms – 2 bath Taxes $9,756 – Village Taxes: $1,005.00 This house has been on the market for over a half year now, price reduced from $410K to $389,900. As of this writing, it’s down to $379,990 and still no takers. There seems to be open house after open house to no effect. A Realtor of my acquaintance referred to this property as “a dog”. Is it really so bad? The house is your standard high ranch. Upstairs there are three modestly-sized bedrooms, a living room/dining room area, a bathroom and the kitchen. The kitchen is smallish and it has the same craptastic, builders-grade, 80’s-era cabinets that I have in my apartment. But it’s certainly a usable space and it’s not in terrible shape. The upstairs bathroom has some ugly-looking tile work, but it’s still pretty usable. Downstairs we have another bedroom, a utility room and a good-sized family room. The downstairs bathroom is similarly ugly and the shower stall (no...

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Back From Hiatus

Hi everyone.  I know that things have been a little quite here at HIB recently.  I’m sorry about that. I’ve been a little busy of late, but I  also lost a bit of my enthusiasm for the housing game.  I’m sure that a lot of you out there have experience some similar type of “house hunting fatigue”. However, I’ve notice a bit of movement in pricing of late. I think we may actually be seeing the ice start to break. Time will tell, but I’m feeling mildly optimistic. Anyway, I’ve got three open houses to write up that I was over the past weeks. I hope to have that up by tomorrow or Tuesday the latest. I also have a guest post penned by HIB’s resident bubble head.  So I should have some good stuff for you this week, then I’ll be back on the treadmill. In the mean time, check out this great post by my friend and Mortgage consigliere, Trevor Curran. It’s a quick overview of the FHA 203k Rehabilitation Loan, a program wherein the Lender provides you with the money to purchase the home (acquisition) combined with the money to improve the home (construction) in one closing and with a single 30year fixed mortgage payment. There are at least a few houses around the Village that would be perfect for this sort of...

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