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-will-be-in-the-spring/
I'd enjoy speaking with you more specifically about homes in Garden City - Please give me a call!
Arlynn B. Palmer, ESQ, SRES, CBR, CMS, CNS
Coldwell Banker Claire Sobel
Assoc. Broker, REALTOR
Off: (516)621-6300 x 205
Email: Arlynn@ArlynnPalmer.com... more
I would recommend that you purchase first. Many of the homes in Nassau County are owned by banks or are offering short sales. Negotiating with a bank is a time consuming process. It is so bad that Congress has HR6133 before them requiring banks to make a decision on short sales in 45 days not the year then are now taking. If you find that you need a mortgage, in NYS there are no prepayment penalties for a fixed rate mortgage. That means if you take out a mortgage 6 months later you can pay it in full without a penalty. I would recommend that you speaking with your accountant on what is best for you.
In your area you can always rent your current home if you have trouble selling. Do expect the purchase process to take at least 3 months if you are buying a house only from the seller.... more