Musicmamasu, Home Owner in Garden City, NY

WHAT IS THE FORECAST FOR HOME VALUES IN THE NEXT YEAR OR TWO IN GARDEN CITY?

Asked by Musicmamasu, Garden City, NY Wed Jan 11, 2012

HAVE VALUES BOTTOMED OUT YET?

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Answers

7
0 votes Thank Flag Link Sun Mar 25, 2012
I am also a realtor in Garden City with 21 yrs experience and lifetime resident. The prices in Garden City are actually on an upswing. The average selling price of 175 homes in 2010 was $889,867 and the average sale price of 174 homes in 2011 was $928,180. That is an over all 4.3% increase in 1 yr. The average sale price of homes priced under a million has only increased about 1%. What happens in the future is questionable as per many variables discussed by other responders ie. global economy, Wall St., election results, unemployment etc. Homes are selling as long as they are priced at or within 2-5 % of market value.
If you would like a complimentary consultation with a market appraisal...call me. I'm never too busy for your business. I can also provide you with the amount of potential internet consumer interest in your property without it being listed.
Respectfully,
Lynn Pisani
Prudential Douglas Elliman Real Estate/Garden City
516-547-1356
lynn.pisani@elliman.com
http://www.lynnpisani.listingbook.com
Web Reference: http://www.elliman.com
0 votes Thank Flag Link Wed Jan 11, 2012
Hi - I am a realor in Garden City, unlike the other responders.
The prices in Garden City have actually held up very well in the last year due to the desirablility of this village. Of course prices are down from 2008, but not as much as most of the villages in Nassau County. Hard to predict the future, but we expect Garden City prices to remain roughly at current levels.
Call me if you would like to discuss your situation in depth.
Peter Owen
The Donnelly Group
(516)317-2860
petero@thedonnellygroup.com
0 votes Thank Flag Link Wed Jan 11, 2012
Unfortunately none of us can accurately predict the future, as none of us really knows where the market will head tomorrow or in the days to come. If you are looking to sell, I would be happy to provide a free cma, comparative market analysis; you can also check out http://www.mlsli.com for available and closed area properties.
0 votes Thank Flag Link Wed Jan 11, 2012
I hope some local Realtors from Garden City will be able to give you some information about the current market but in general anywhere in the US we are in buyers markets, i.e. we have more properties on the market for sale, and many foreclosures, pre-foreclosures and short sales, and sellers in distressed situations, and all of the latter will bring area pricing down. Furthermore since buyers have a lot to look at and decide on, it will usually take much longer to sell and Sellers will have to be more patient.....

Make sure you work with a local experienced Realtor who will price your home right and who will also help you in preparing your home right for sale, with making recommendations to painting, curb appeal changes, staging, moving or removing furniture, replacing appliances or may be nothing, I am just saying use a professional's help through the entire process.

Has the market or the markets in general bottomed out, personally I do not think so, although by areas
and subdivisions, related to the economy and employment situation it is slightly different....

Good Luck to you... oh I forgot, when deciding to sell or not to sell now, take into consideration YOUR personal reasons and needs, it may be more important.....

Take care!
Good Luck to you!
Edith YourRealtor4Life! and Chicago and Northern Illinois / North Shore Expert with @Properties
Working always in the very BEST interest of her clients, buyers, sellers and investors alike....
Edith Always goes the X-tra Mile with a Smile for all her clients .....
Referrals are always highly appreciated!

In order to get to know me a little bit better and to find out the expertise, experience, and the various services of a Realtor can make the purchase or sale of a home a pleasant experience go to
http://www.tinyurl.com/MeetEdithHere
pl. excuse any typos - I am rushing to meet with clients....
Good Luck to you and have a happy and healthy 2012
0 votes Thank Flag Link Wed Jan 11, 2012
Unfortunately no-one has a crystal ball. Home prices are tied to government policy (among other things) and with a presidential election this year anything can happen. The most prudent course is usually to make a buy or sell decision based on the pricing facts you have today, and your motivation (if you have to sell, sell). You can find economists on both sides of the debate if we have hit bottom yet or not.
0 votes Thank Flag Link Wed Jan 11, 2012
Hi Musicmamasu,

I just finished reading an article on the prospective values of homes that I thought you might be interested in reading as well. You can cut and paste this source:
http://www.kcmblog.com/2011/10/18/house-prices-where-they-wi…

I'd enjoy speaking with you more specifically about homes in Garden City - Please give me a call!

Regards,
Arlynn

Arlynn B. Palmer, ESQ, SRES, CBR, CMS, CNS
Coldwell Banker Claire Sobel
Assoc. Broker, REALTOR
Direct: (516)410-3594
Off: (516)621-6300 x 205
Email: Arlynn@ArlynnPalmer.com
Web Reference: http://www.ArlynnPalmer.com
0 votes Thank Flag Link Wed Jan 11, 2012
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