The Long Island Real Estate Market Is In The Eye of The Beholder
Lately, I keep hearing the Long Island real estate market, for lack of a better word, sucks. Here is my take on why they feel this way.
Buyers - buyers that are in a lower price range, can't find their dream home. Some expect the homes to be all updated instead of outdated. The avocado kitchen from the 70's doesn't work and they do not have the money to remodel right away. They could have that dream home but they are in areas the buyers do not want to live in. I say, save more money and try next year.
Sellers - on the market for 120+ days with not one offer. Some want the 2005 prices and that is not happening now. Reduce the price, get offers and now the market is great. If they need all of the proceeds to buy their next house, it may not be feasible to sell now. Real estate agents do not control the market.
Real Estate Agents - The agents that are saying business is slow are the ones that are not going out there after it. Granted, there are still some areas across the country that are in bad shape and business is very rough for them. Understandable. But here on Long Island, if you go out and get it, business will be good. Sitting waiting for the phone to ring is not going to do it. Questioning how come other agents in your office are getting business and you are not, it's because they are going out after it. Prospecting for an hour a day won't bring you diddly. Complaining about the market won't change it. You have to change it.
How the Long Island real estate market is doing depends upon who you talk to.
Jackie Connelly-Fornuff
Century 21 AA Realty in Lindenhurst, NY
Serving the South Shore of Long Island of Suffolk and Nassau Counties: Long Island Residential Listing Agent, Buyer's Agent, Condo, Coops and Short Sale Specialist.
Always Moving at the Speed of You!
Cell/Text: (631) 703-0201
Office: (631) 226-5995 Ext. 242
Email: JackieConnelly@optonline.net
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Jackie, the sooner sellers realize that '05-'07 prices are gone then so much the better for them. Price that house correctly...get it sold...and move on.