Anonymous123, Home Buyer in Oceanside, NY

Real Estate price performance in Great Neck, NY?

Asked by Anonymous123, Oceanside, NY Tue Oct 30, 2007

We read in the press about home price appreciation/depreciation but the statistics are always some kind of averages. Does anybody have any statistics about the house price appreciation/depreciation over the last twelve months and month by month for the town of Great Neck, NY?

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Yes, the Long Island board of Realtors can provide those statistics...the multiple listing service. Call 631-661-4800 and they can provide you with month-to-month numbers comparing last year to this one.
2 votes Thank Flag Link Tue Oct 30, 2007
Hi ;
You Have To Understand That Price Change From One Home To Another....However Price Depreciation As About 25% In Great Neck In General...What Is Matter Is The Price And The Motivation Of The Homeowner,That Help Sell A Home In This Market...For Specific Location In Great Neck And More....You Can Call Me At;516-6470954.
Or Email Me At';nweiss59@hotmail.com
Nurit Weiss@coldwell Banker Residential
0 votes Thank Flag Link Wed Feb 2, 2011
The advice given on this question is biased and negligent! There are brokers here saying that Great Neck real estate is holding up well and now is the time to buy. Bologni! If the market as a whole is crashing, wouldn't it be idiotic to buy in an area that has yet to fall? People please stop luring buyers into the Great Neck market when there is SO much more room for it to sell off. Every economist on CNBC agrees that Real Estate will not bottom for the next few years. Right now is the time to seek bargains...Not to buy bubbles that have yet to burst. Obviously the Great Neck realtors want you to buy now.
0 votes Thank Flag Link Wed Feb 18, 2009
Although short term (year over year, month by month) appreciation/depreciation may be indicative of the performance of real estate investments in a particular area, it is only pertinent to short term investment. If you are looking to flip a property, attempting to resell a property for profit in a short period of time, these statistics may be of interest. If you currently own a home in the area and are interested in its current value, these statistics will give you a broad idea of market conditions (although, there is no substitute for a professional, comprehensive market analysis). However, if you're looking to purchase a home and are interested in the performance of property in the area, you would be better served to look at property value statistics over the past ten years or more.

Markets often experience dramatic fluctuations within a short period of time. As we all saw in 2006 and at the end of last year, home prices are liable to change drastically in just a few months, weeks even. However, what seems to be a devastating loss when viewed in the short term (the value of a home in early 2006 versus early 2007) may be a respectable gain when viewed on a longer scale (the value of a home in 1998 versus its value today).

What are you trying to learn from the statistics? What are you trying to accomplish? If you have any questions regarding the current state of the market here in Great Neck or the long term performance of property in the area, please give me a call at 516-466-7800. Good luck regardless!
0 votes Thank Flag Link Mon Nov 24, 2008
I specialize in the Great Neck area. Check out the market update section of my website and e-mail me with more specific questions. http://www.ISellGreatNeck.com
0 votes Thank Flag Link Tue Oct 30, 2007
From my web site, go to ALL LISTINGS, then click NEIGHBORHOOD INFORMATION, enter zip code or select town.

Hope it helps
0 votes Thank Flag Link Tue Oct 30, 2007
http://www.mlsli.com/pdfs/nassau_stats.pdf - has Median and Average Closing Prices, September 2006 - September 2007
0 votes Thank Flag Link Tue Oct 30, 2007
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