Home Buying in Northport>Question Details

Eg, Home Buyer in 11767

i am looking at a house on fort salonga rd in northport, following the price on zestimate. i notice that the

Asked by Eg, 11767 Sun May 25, 2008

price is steadily going down. what do i make of that? something wrong with the house or just following a general trend? thanks.

Help the community by answering this question:

Answers

5
Bruce Colwin’s answer
Zillow is a valuable comparative tool - unless you ask a broker. I think it gives a reasonable indication of real estate trends and access to current and historical transactional details. Not diminishing the value of a broker, but they doth protest too much.

As far as a home on Ft. Salonga Road in Northport - commercial development in the area may have an impact on the pricing, depending on where it is. Also, there's a seasonal factor as the traffic, folliage, etc. changes and homes become more or less appealing based on those seasonal factors.
0 votes Thank Flag Link Mon Jul 20, 2009
Zestimate? No.

Local real estate agent is your best resource, period. Zillow and other sites like it can't possibly provide accurate numbers or analysis of home values. Real estate is local. Always has been - always will, no matter what technology they come up with. A website based in California, can't possibly help you learn about a market in NY. Ever. Their numbers are dated, based on (in some cases) tax values!!!!

I mean, you're in Nesconset and you're using zestimate online? Remember, you don't pay anything extra to a buyers agent. Our fee is built into the closing costs. So you determine the price you want to pay and the seller pays all Real Estate Fees. If you enter into a situation where your agent, who's representing you as a Buyer, tries to tell you that you need to pay any portion of the real estate fees above and beyond the sales price - doesn't know what they're doing. Move on.

Overall - I would strongly recommend that you pay no more attention to websites that provide "estimates" of values.
Web Reference: http://www.tommcgiveron.com
0 votes Thank Flag Link Mon May 26, 2008
Eg,

There is truth is both answers. A "Realtor's" code of conduct and ethics dictates, when representing a buyer, to "form fit" their personal criteria in to a reality. Simply put, best location and price for the area you are searching for! Data is totally meaningless unless the heart is invovled. Purchasing the perfect home is all about your emotional and financial commitment.
The Long Island market is growing in some specific areas, and still on a downward trend in others. The signifance is that we have seen drops from as low as 7% to as high as 20%, on average, based on the truism of supply and demand for a specific location, and of course condition of the home!
0 votes Thank Flag Link Mon May 26, 2008
Hi Eg, there is a lot of inventory out at this time of the year and it does keep the prices down.

Let me know if you would like to see it (and more).
Web Reference: http://GailGladstone.com
0 votes Thank Flag Link Sun May 25, 2008
If you are becoming more and more serious about buying in this area (and this house in particular), its time to leave your ivory tower academic analysis and start to pick the brains of a local broker who knows their stuff on a practical hands-on level and can give you real input. If I were to take a guess and that is all it would be,. I'll go along with your " following a general trend " statement ( at this point ).
0 votes Thank Flag Link Sun May 25, 2008
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer