Two houses sold in March 2009, not a good month for the Village or for home sales in general.
New York-area home prices fall by record 11.8 percent [NJ.COM]
The Standard & Poor’s/Case-Shiller National Home Price index reported home prices tumbled by 19.1 percent in the first quarter, the most in its 21-year history. Home prices have fallen 32.2 percent since peaking in the second quarter of 2006.
Home prices in the New York area fell 11.8 percent.
Prices of US homes in March fell a sharp 18.7% [CNBC]
The S&P/Case-Shiller U.S. National Home Price Index continues to set record declines, a trend that began in late 2007.
The index, which covers all nine U.S. census divisions, recorded a 19.1 percent decline in the first quarter of 2009 from the first quarter of 2008, the largest decline in the 21-year history of the series.
As of March 2009, average home prices across the United States were at similar levels to those in the fourth quarter of 2002. From the peak in the second quarter of 2006, average home prices are down 32.2 percent
Actually ony one house sale in the Village proper. One of the sales was up north but still in the 11702 zip code. Some mildly better news for April, though. Stay tuned.
79 Village Line Rd
- MLS# 2129415 – Zillow Page
- Sold: $435,000 – 3/30/2009
- Prior Sales: None
- 4 bedrooms – 2 bath – Tudor
- Taxes: $11,921 – Village Taxes: None
North Babylon schools and not in the Village proper, but a nice big house on a large piece of property. Pictures of the kitchen and bath make them seem to be reasonably updated.
Ask on this house was $469,990. Not a bad deal here.
56 Clinton St
- MLS# 2129129 – Zillow Page
- Sold: $385,000 – 3/31/2009
- Prior Sales: none
- 3 bedrooms – 1 bath – Ranch
- Taxes: $8,019 – Village Taxes: $748
Debra saw this one and wasn’t impressed. It’s a smallish ranch with one bathroom and an ugly ugly kitchen. My other main concern was with the sun room that was built without a permit. It did have a cool finished basement, though.
The asking price here was $419,999 and I’m a little surprised it went for that much.
that village line rd house was a trememendous piece of property with a lot of curb appeal..but a 5 figure tax bill for NB Schools
Gary, I have also been looking for a house in the babylon village area (as well as wantagh and other south shore towns). I have put in 3 offers all beaten by all-cash offers and 1 where the seller (and his overpriced home) wanted to find a house first (why put it on the market then).
I am actually giving up. I was doing a lot of research and the rent to own ratio is still sky high (Check out patrick.net and you’ll stop looking for houses). I have been doing my own research and housing prices are still off by 40-50%. I know that may sound ridiculous but my gf and I make a combined 160K a year and have 60K in the bank and we are limited to the smallest fixer-upper in a nice area (ie the village) or an OK cape in a blue-collar neighborhood? This makes no sense. If houses even drop another 10%, it will take several years just to break even on the purchase and if it drops like predicted, it will take 30 years just to break even. Check out this calculator:
For now- we rent- its safer.
I’m largely in agreement with you. But wait till harriet comes around – then you’ll believe that paupers like us just can’t afford “the Village”. 😉
If you think you should be able to afford it, then you should. Actual numbers dont matter.
When you all say that a “house is unaffordable” do you mean what the list price is, what you expect the sale price to be, or what your monthly total payment will be?
How much more is the mortgage on the “smallest fixer-upper” than you rent?
Tom, what about that peach on Edwards (though I hear the Home Inspectors were there last week)? Or the sweet, sweet house on Wampum. Or the great house on Wyandanch (love that house). Make some offers! Get in there. Tell them alls you gots is 60K.
Wampum has a great basement…great lot….high tax bill
noticed two houses for sale while driving to the cemetery today…..Park Avenue…brick cape @ Livingston Ave asking 399K, and north of Park Ave on livingston ave a Nice Cape with a decent porch and yard
The one on Park is on MLS, but the one on Livingston is from Winkler Realty, who seems to have an issue listing houses on MLS and on their own website. There’s that house on Locust that has had a Winkler sign out for a month or so and hasn’t appeared online anywhere that I can find. I’m not interested in it, but I am in the one on Livingston.
Is this blog still alive?
Just a little hiatus. I’ll have a new post up tomorrow.