Home Buying in 10940>Question Details

JustLkg, Other/Just Looking in Middletown, NY

Can anyone tell me about the Canterbury Knolls Community in Middletown, NY? The free standing homes seem to be losing value every year. Thanks.

Asked by JustLkg, Middletown, NY Sat May 19, 2012

Help the community by answering this question:


Miriam Munzer’s answer
Yes, the prices are down. They are down everywhere. Not just in one community or in one city!

I believe we are at the lowest point in the market place right now. If you were to examine the traditional increases in value over the course of years( not weeks or months like we had in 2001 to 2008), you will note that this "downturn" is a temporary one. It has been a longer than the "historically" noted recessionary period of the 1970's or the period of the late 1980's, ..but guess what??? Prices continued to increase, interest rates continued to increase..and prices have never EVER dropped to those levels since. They just continue to grow.!!! The buyer who jumps in now, will reap the benefit shortly.

Interest rates are low and will not stay this way forever. If you are looking to make a killing and flip, I would rethink that. If you are looking to own for a time period, you will be a winner, NO MATTER WHAT!
One must examine the past to see the indicators of the future!!

Happy Buying!
0 votes Thank Flag Link Tue May 22, 2012
I used to own a property in Canterbury knolls and my MIL still lives there. I would not suggest Middletown if you have school age children...especially twin towers school....the school system for this part of middletown. The insulation in the homes are terrible - our monthly heating bill was well over $300 during the colder months. Twice we've had to calling a plumbing company to u thaw our pipes. Buy at your own risk. My mother in law paid over 15k to have her home re- insulated and have new siding on her home to keep it heated.
1 vote Thank Flag Link Mon Oct 13, 2014
Did you live in the newer phase of Canterbury build in 1999-2000? Thanks for your information!
Flag Sat Nov 22, 2014
I recently sold a condo there..They too have lost value..Its not Canterbury knolls..its been all homes in our area have lost value over the last four years. My own home has lost near 100,000 since 2006. The last two months have shown a modest uptick in home values, but we are years form seeing the same kind of values we saw in 05 and 06.
0 votes Thank Flag Link Sun May 20, 2012
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