Finding the right house in this market when focusing on an area like Manhasset is that you must be realistic about what is out there. With a relatively limited number of homes in your price range, you have to know what you really want, and what things you consider to be priorities about the house you purchase.
Aside from that, if you would like any advice about home financing please feel free to contact me at any time. i will help you every step of the way, from now until closing.
In 2010, 78 homes sold in your price range. YTD in 2011, only 3 homes have sold. Our inventory is its lowest point and our Spring market has not yet begun.
Don't get discouraged, work with a good agent who knows the facts and can guide you to find the right home for you.
BTW, In your end, You have to prepare your pre-approved letter;then you put yourself in the fully ready position to get the best deal. Good Luck.
I hope those nforamtion helps you.
I suspect that there is enough inventory there to find you a house you love at a price you like. Best of luck.
I don't know what context your co-workers statement was made but I agree with the previous answers. It's just not the case. Many of the most stable neighborhoods such as Manhasset have a much lower inventory of homes in this market. Part of this is a function of the economic demographic: i.e. Do I want to move, yes; do I have to move, not really so I'll wait; do I need to move, perhaps. This is a smaller percentage of the homes that could be for sale under different circumstances.
Another possibility is that the better(updated) homes will be put on the market by homeowners without a broker. Quality homes that are "priced right" will sell fairly quickly since there is a pent up demand for these move in ready homes. You may not hear of them in time, they do go quickly even in this market. Your co-worker may be reacting to a condition of the market rather than this reality.
If you are truly interested in purchasing a home now you need to be ahead of the curve. You must check the MLS daily at http://www.mlsli.com. You must check all the sites that list properties on the internet. Most have auto notification based on your criteria. Check the for sale by owner sites such as http://www.fsbo.com and others. Call the brokers that specialize in foreclosures(yes there are million dollar foreclosures and shortsales). Be proactive and post your own ad on sites such as Craigs's list: Looking for home in Manhasset, etc. If all else fails you can call me and I will monitor the market for you. Whatever you choose to do it is safe to assume that there is no shadow market that your co-worker is talking about. There are just some very ambitious buyers out there looking to be the first to get the worm. You can be that early bird too.
Century21 Yve Realty
Licensed R.E. Agent
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