Why are prices not rebounding for residential Real Estate On Long Isalnd?
Nassau and Suffolk rank second after Miami, with the most distressed homes in the country. There is currently 30 months supply of distressed inventory in Nassau and Suffolk consisting of Foreclosures and Pre-Foreclosure (Short Sales). It is this inventory that will keep prices low as mortgage lenders place distressed properties back on the open market to clear their books. It is a simple case of to much supply, not enough buyer demand. Unless you can wait 2-3 years for homes to appreciate, we recommend you get your home on the market as soon as possible before the mortgage lenders start releasing their homes for sale in the spring.
What is pending or shadow inventory?
Pending or shadow inventory (Yellow) represents the distressed homes that have not been placed on the market for sale as of today. Mortgage lenders need to liquidate these homes to create new home loans.
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| 711 Clocks Blvd |
$170,000 |
Ranch |
| 91 Carmans |
$229,000 |
Hi Ranch |
| 437 Clocks Blvd |
$239,000 |
Hi Ranch |
| 24 Plymouth Dr |
$250,000 |
Cape |
| 45 Camp Rd |
$269,000 |
Split |
| 55 Camp Rd |
$275,000 |
Split |
| 5 Emily St |
$275,000 |
Exp Cape |
| 47 Sand St |
$289,575 |
Cape |
| 543 Franklin Ave |
$299,000 |
Colonial |
| 62 Park Ln |
$299,999 |
Ranch |
| 558 Forest Ave |
$300,000 |
Cape |
| 696 Clocks Blvd |
$300,000 |
Hi Ranch |
| 2 Major Rd |
$309,000 |
Hi Ranch |
| 12 Marshall St |
$310,000 |
Hi Ranch |
| 58 Thorne Ave |
$319,000 |
Ranch |
| 57 Grand St |
$319,000 |
Cape |
| 35 E Grove St |
$325,000 |
Hi Ranch |
| 3 Fairfield Rd |
$325,000 |
Cape |
| 40 Erlwein Ct |
$329,000 |
Cape |
| 1055 N Broadway |
$345,000 |
Hi Ranch |
| 58 Park Ln |
$349,000 |
Exp Ranch |
| 21 Delta Rd |
$375,000 |
Colonial |
| 575 Forest Ave |
$375,000 |
Cape |
| 50 Cedar Dr |
$399,000 |
Ranch |
| 113 Pennsylvania Ave |
$399,000 |
Colonial |
| 18 Amber Dr |
$399,800 |
Split |
| 349 Massapequa Ave |
$439,000 |
Colonial |
| 27 W Cabot Rd |
$499,000 |
Hi Ranch |
| 68 W Shore Dr |
$585,000 |
Split |
| 119 Lagoon Blvd |
$999,999 |
Colonial |
| 225 Violet St |
$349,000 |
Split |
| 167 N Queens Ave |
$319,500 |
Cape |
| 129 Henry St |
$324,900 |
Hi Ranch |
| 310 N Baldwin Dr |
$345,900 |
Ranch |
Current Foreclosures In Massapequa
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| 29 Plymouth Dr |
$167,500 |
Cape |
| 35 Kenwood Ave |
$199,900 |
Cape |
| 4 Ozone Pl |
$269,900 |
Hi Ranch |
| 3 Commonwealth Ave |
$325,000 |
Ranch |
| 3 Roosevelt Blvd |
$379,900 |
Colonial |
How is the recent rise in interest rates important?
Buyers are getting active as interest rates move up. The monthly cost of owning a home is increasing and Buyers can not buy as much of a home then they could only a few weeks ago. Buyers want a home to have a compelling price in order to motivate them to buy. We are the experienced agents that can help you price your home correctly and obtain the highest value for your home.
Hire A Real Estate Expert.
Whether you are buying or selling, make sure you are dealing with a real estate expert not just someone who happens to have a real estate license per Steve Harney realty expert. We stay up to date with many of the experts in our industry. Long Island's own Steve Harney, was recently voted Inman News Top 100 Influential Real Estate Expert and shares this recognition with Ben Bernanke. Steve was featured on Fox News to provide his views on the regional Real Estate Market. Follow the link to view this informative interview http://vimeo.com/18865192 .
Current Short Sales In Massapequa
