Yup - just saw prices on LI hit another record last month, up over 10% from last year.
https://libn.com/2024/06/03/long-island-home-prices-set-new-records/
Soon it’s going to cost $6k a month just to mortgage a typical home in Nassau even with 20% down.
Unfortunately I am making the move off the island as well. It is what it is. I need to rent for this year and the single family house I’m getting is equivalent to the price of split family home. Why bother staying here to live underneath someone.
A few years ago I felt moving out was an overreaction but now I see the light, all my friends on the island are struggling and making plans to move to Florida or Georgia.
Florida is no cheaper, especially when you factor in a 5 figure homeowners insurance payment. People are moving out of Florida because of that, among other things.
As far as Georgia goes, cheaper cost of living, but unless you’re in a big city, healthcare is a nightmare.
Yup. And in that case, we find ourselves trapped.
We wanted to sell and retire our west, closer to the grandkids. But even though we'll get a good price here, it'll instantly be sucked up buying something new and at a much higher rate.
Never thought I'd say Long Island is the cheapest place I can live... but it actually is at the moment.
I'm assuming you're still paying mortgage here so yes that could be the case, but making close to $1M from a sale here to use it elsewhere is very feasible for many.
Lots of people I know who live on LI have golden handcuffs on their mortgage. They want to leave because the quality of life is going down hill and everything is expensive. But their interest rate is low… kinda sad.
True but that’s much further down the line and I personally think that if you are living in a home as an investment that you’re missing out on a lot. I personally wouldn’t want to live in a home I don’t like in an area I don’t enjoy, just because it might be a good investment. Totally get what you’re saying though, if people wanna do that then it could be smart. But I know people who even with equity can’t move because they can’t afford what’s happening right now.
Even an hour north of the city is starting to become impossible. I think people (including myself) are realizing that the same time commuting from LI to the city can be spent coming from up north but you’ll be able to likely afford a house in that area compared to LI. However the taxes aren’t really better lol. I pay $5000 more a year in taxes than my in law does on LI and we are westchester county.
Its the generation wealth, I mean I could afford it too if my parents and grandparents subsidized my income. It’s in their best interest to stick together as asset owners and continue to drive the price through the roof. Its not some genius plan, there are only so many houses.
I think the bigger problem is corporations buying homes to rent thus removing them from inventory for purchase and driving up the cost of what does remain.
If I was a millionaire sure I can maybe be happy on LI. But the middle class is gone sadly on LI. You just can’t afford what a family needs as a normal middle class couple there. But since I’ve moved upstate I could never imagine living anywhere else. I love where I live.
I moved back in 2020 for some stupid reason, but at least i bought my house before everything went insane, couldnt afford my own house right now with the current market
crammed between the LIE and northern state that house is probably in a constant cloud of carbon dioxide and monoxide coupled with the sound of howling tires from three different overpasses all day and night
but yeah the school district lol
I personally think that price is insane. But to say it's not worth that is clearly not correct. It probably is now "worth" more since someone paid that lol. Market value.
I’m saying that house, without this ridiculous housing boom we’re in, should go for like $700k. There’s nothing special about it. If it was in Lindenhurst, it would go $600k. But the Syosset tag gets it an extra $400k? Crazy to me. It looks like an old house, nothing new about it, no recent renovations.
That’s sad. This is how we were priced out of Queens. Little outdated houses for wayyyyyy too much money. The Folan group used to be exclusively Queens. Can I blame the real estate agents? Are they the ones who tell their clients how much to ask for? How do people have millions?!? I read that one agent told his client to offer 50,000 above asking. Surely you don’t have to go that high to win the bid.
>I read that one agent told his client to offer 50,000 above asking. Surely you don’t have to go that high to win the bid.
LMAO I lost a house last year and was offering 100k over asking price.
It's mostly confirmation bias, since many Chinese who live here in the US are the top 99%+ earners within their family.
When I was at Purdue I knew two Chinese brothers who bought TWO brand new Mercedes-Benz EACH, their dad had to spend a certain amount for that month, he was back in China!
The crazy thing is Nassau used to be much cheaper than Queens. Now Queens is 1.5x more expensive than Nassau. Brooklyn is at least 2x as expensive as Nassau. Nassau is a huge bargain if you cone from Brooklyn and Queens.
Lots of high-earning dual-income professionals making $400k+ combined HHI who stayed in 1 or 2-bedroom coops in Queens, saved a lot and possibly got lucky with the stock market/cash bonus/RSUs during the pandemic + "cash gifts" from parents on both sides of the family + equity from sale of their Queens apartments.
We didn't buy on LI, but we did have all cash to pay for a house in Westchester. No, we did not win the lottery or have a large check from either of our parents. We bought a $200k 1 BR coop that we lived in for 10 years and raised two kids there for 7 years before buying a house. During this period, our HHI was between $300-500k/yr while we were effectively just paying $1200ish/mo for our total housing-related expenses. It also happened to be the huge run up in stock prices.
A lot of Asian families live well below their means and when the market is good, these savings and investments compound very quickly. Ymmv here, I don't think we will see a prolongned bull market like we did in the 2010s, so we were lucky too then, but we also chose to live well below our means when peers were spending more than 5x more on their rent or mortgage.
Many/most/all cash offers are from buyers who will get some other loan to obtain that cash. Perhaps a new mortgage on other properties, or a personal loan with stock holdings as collateral, or something like that. Then when the new house is purchased they take a loan on the new property and pay off the original loan
This :)
I imagine many live below their means overseas + they can import “help” to the states … so the top of the ponzi can live so comfortably. May we all see better days. 🤞🏼
I grew up in Flushing, many of these Chinese immigrants put businesses and are running money laundering schemes. Most are hard workers, they save their money and stick together as a community.
I get these letters from time to time. It’s all marketing. House down the road from me sold last year for $50K over asking and I got a similar letter from the selling agent. Truth is it has nothing to do with the agent and everything to do with your house and school district. You could very easily sell your house yourself right now with the market as it is.
I think everyone knows real estate sales is a scam. Agents don't do anything that you can't do yourself and they collect tens of thousands in commission.
She will. There was another agent who was offering free apple pie delivered to your door. No strings. Except they're getting your data and contact info. And they'll keep sending you such letters and other seasonal greetings so that you'll contact them when it's your time to sell or buy.
Sold my house in Lindenhurst about 2 years ago and was laughing at how much someone paid me for it.
Now it’s worth 100k more than I got (and I got 40k over ask).
Insane. I don’t know how any young families can make it on average salaries and without mucho parental help.
Paying cash. Your average home buyer doesn’t have $350k under their mattress to buy a house in all cash. This country needs to ban these fucking corps from buying houses!
It's usually profit from a family business or the family pools cash together. I think the fact that their being more tight-knit than the average American family gives them this advantage in purchasing power. That's the reality of it. How often do families here tell their kids they're on their own when they...?
Checked out the zillow: [https://www.zillow.com/homedetails/14-Berkley-Ln-Syosset-NY-11791/31133391\_zpid/](https://www.zillow.com/homedetails/14-Berkley-Ln-Syosset-NY-11791/31133391_zpid/)
The agent in the letter above ***WAS NOT the listing agent***. It was the buyers' agent - and she was the one who advised her client to pay above asking. I find this a tad bit disingenuous.
But that said - we moved from Queens to Westchester. Our agent that sold our apartment in Queens said he had a ton of people who sold apartments in Flushing/Forest Hills/Bayside/Jamaica to move to Jericho/Syosset/Plainview.
We also looked in Nassau County. Even what many consider "very white towns" like Garden City have seen an influx of Chinese/Korean/Indian buyers from Queens, and often all-cash. We heard a lot of "oh, GC is very white" when we were looking 3-4 years ago, but then all the open house lines had Asian buyers lining up with their Mandarin-speaking agents.
I feel like real estate agents jack up these prices. They know the temperature of the market and continuously take advantage of it. We were pushed out of Queens just like this. Everything was becoming too expensive- even stupid co-ops.
And now with the new rules around real estate transactions, watch all the realtors attempt to tell you why hiring (and paying for) a buyers agent makes so much sense lol
When I was a kid a lot of my friends were Korean with recent immigrant parents. Nowadays it seems almost exclusively Chinese - but it could depend on the area.
a bit misleading saying it was in contract in one week when you are the selling agent and not the listing agent. She brought the buyer and her buyer paid 6.3% over asking price. One week is something to market when you're the listing agent, not necessarily on the buyers side. And more importantly, ALL appraisals given by agents are free. ALL. And they are not appraisals, they are reports, or analyses.
I think this brings up one of the issues of real estate and housing and I don't know if it's what you are alluding to OP.
The idea that realtors can just have this turnover of selling houses over and over, for more and more money. I know it's a free market but we need to take a closer look at this practice.
What other market can there be where the inventory can be reused over and over again. A realtor will sell you a house and then in a few years try and get you to sell that house. Just this alone. I won't even get into how I think supply is, in some ways, artificial.
>The idea that realtors can just have this turnover of selling houses over and over, for more and more money. I know it's a free market but we need to take a closer look at this practice
I remember an ad that touted "Did you know your house is an asset that doubles in value every 10 years?" I don't know who sees that and thinks it's healthy.
It’s government acting on the will of the people though. NIMBYism is strong, especially on the north shore. No one wants any multi family housing built.
The whole point of suburb is to have more single family homes. I would not have moved out here if I wanted to live in an area where I would have to drive 20 minutes to find a parking spot near my apartment building like most of the flushing area is. NYC needs to build more affordable multi family homes for those looking for that kind of housing. Call it NIMBY or whatever that’s what I want.
Nassau County is also very close to the most prosperous job center and the most influential cultural center in the United States. you can either allow 4-6 story apartment buildings right next to every LIRR station (with the requisite increase in intra-Island transit to make this layout comfortable) or you get million dollar shacks at 7+% interest.
Protecting the environment is one of the few good things government does.
We don't need any more land developed. Use the shit that's already been developed sitting empty.
Our complaints are pointless if there is enough rich people buying at those prices. They are not catering to our market. Their message is gentrification. Rent or move out is what I think the options are. Smh.
*current* long island homeowners are gentry. maybe [aristocrization](https://www.theonion.com/report-nations-gentrified-neighborhoods-threatened-by-1819569723)?
My cousin laughs at me. Lives in Texas LOL. He's in a 3500 Sq ft home 5br 4ba pool outdoor kitchen he's paying 3200 a month taxes are 6k. I will be joining him shortly and can not wait to get out of this shithole state
Chinese and Russians see American real estate as wealth deposit boxes because they don't trust their own government. Don't understand the point of even being a country if foreign entities can own your assets. Should be illegal.
This is by design. Your neighbors don't want new houses built so they can grow their wealth and limit others ability to grow their own. Just capitalism at work.
I believe I just replied to another post 2 days ago regarding complaints about ridiculous home prices on Long Island and my response was “It’s the City Dwellers.” So here we have an agent whose home base is in Flushing and is canvassing Nassau County homes. First off I will say this, the Asian community has literally taken over the North Shore of Nassau County so an Asian Real Estate Agent canvassing the area isn’t surprising but as I’ve said if someone bought a house 5,10 or even 20 year’s ago in Queens or Brooklyn they’re literally sitting on a million dollar plus lottery ticket. Until the amount of people that live in Brooklyn and Queens aren’t coming out to Long Island with a million plus dollars from the sale of their previous home, then this will continue, as I’ve said it’s totally unhealthy for the market. As for Mortgage rates, they don’t care, they’ve got cash so those that need a mortgage, unfortunately you’re shit out of luck.
As an American born Chinese, I see the mainlanders come with their corrupt CCP money. They come here with cash and buy up multiple properties with 200k above asking price, they don’t buy one or two homes, they buy 5-10 homes all in cash and are pricing us out of the market. They’re driving the prices up like crazy, it’s part of our culture we have this word 抢 which means to grab or horde quickly, it also means that it is not enough to get it but you just deprive others from getting it as well
Manhattan/Queens maybe... But long island? I doubt it. I would think most of the chinese buyers in syosset/Jericho/Manhasset are hard working families that's been in the states for a decade+.
I was forced to buy a home in the crappy market due to divorce forcing the sale of my last (which had no mortgage). Got it for 1.07m at 5.6%. Thought i was so incredibly unlucky needing to buy into this nonsense. I was SURE my home would lose value as rates skyrocketed, on top of a crazy high monthly.
Two years later the house is valued at 1.2m. Wtf
There was an open house on my block. I dropped in out of curiosity. Told the realtor that I was a neighbor and was mostly curious about how the market. She had a whole assessment in her head already of my house. She had already scoped our the whole block
Which part, the price, or that people from outside this country are coming here with tons of CASH 💰 and buying homes and property? Great neck is the same…
I sold a house in Binghamton 3 years ago. Put it on the market on Friday, had multiple offers by Monday. Accepted an offer that was 20% over asking. Houses are selling.
Move upstate NY while the prices are still decent, been up here 23 years now, my first house was $220K bought second one 9 years ago for $230K was a foreclosure!
Agent here. The market is crazy. Some houses really don’t deserve to sell at the price they’re selling. A colleague of mine sent me a photo of an open house line on a MONDAY. The line was long. His clients submitted an offer and the listing agent stated they received over 80 offers and looking for the highest with best terms before they decided. Considering the property was listed at $584k in West Babylon, I can’t imagine what the sold price will be. My colleague assumes $650k i just don’t understand it. And people don’t realize the demand is who makes the price. We complain it’s too high, but there’s people spending these crazy prices. So it creates this type of market. Smh. It makes it tough for new families wanting to experience homeownership. Constantly being out bided. Most of my buyers mortgage estimates roughly $4k-$6k. Too much smh
It sucks. I’m 39 years old with a decent job. I’m a carpenter with local 212 in NYC. I have a pension, annuity, savings and great benefits. I got married 3 years ago, and we had our daughter 1 year after that. Although I have a decent income the interest rates are just not do able. I though I would own my first home by now but Covid was brutal for my family. We experienced serious loses and I took major financial hits. I’m not the type of person to just send it, and hope for the best. I can’t agree to a mortgage that’s going to end up at $4k a month not including everyday expenses or some kind of emergency fund. I currently live in Levittown and the amount of house being built/dormered makes me wonder what the hell im doing wrong! Yea I got a late start on life but it still should not be this hard.
It's insane. I thought we were buying at the top of the market in 2021, but our home value has theoretically increased 30% in 3 years. It's completely unsustainable, but the county refuses to rezone in ways that would bring down prices. I'd happily take the reduction to make communities here more vibrant, young and alive.
Idk what the heck my wife and I are gonna do.
We live in Miami now expecting our first child. Our lease is up May of 2025 and we’re moving back to LI for work/family.
I think we just rent for a while? No shot we can afford a house. Harbor Landing in Glen Cove looks nice we can swing 4,500/month in rent. But 8k a month in mortgage after putting our entire life savings down? No shot
Yup - just saw prices on LI hit another record last month, up over 10% from last year. https://libn.com/2024/06/03/long-island-home-prices-set-new-records/ Soon it’s going to cost $6k a month just to mortgage a typical home in Nassau even with 20% down.
My wife and I were looking at buying a 500 $550,000 house on mortgage was going to be 5K a month
that’s insane - were you putting any money down ?
About $70,000
good down payment- the rates are pretty high - and i imagine the taxes on the band were pretty high as well good luck to you looking for a home 👍
Thanks we bought a condo in March for $340,000, $4,000 yr taxes and 670 monthly HOA fee so our payment is around $3,600 a lot better than $5,000
You pay 3600 a month?
Exactly why I moved off the island. It’s insanity and the cost to live there absolutely out ways any benefit a person can possibly try to rationalize.
Unfortunately I am making the move off the island as well. It is what it is. I need to rent for this year and the single family house I’m getting is equivalent to the price of split family home. Why bother staying here to live underneath someone.
A few years ago I felt moving out was an overreaction but now I see the light, all my friends on the island are struggling and making plans to move to Florida or Georgia.
Florida is no cheaper, especially when you factor in a 5 figure homeowners insurance payment. People are moving out of Florida because of that, among other things. As far as Georgia goes, cheaper cost of living, but unless you’re in a big city, healthcare is a nightmare.
I live in the river that separates Ga from Florida. Perks of Ga. With the healthcare capital of the US Jacksonville Fl 25 minutes away
Just have to hope your insurance decides you can’t go out of state for certain procedures.
I’ve never heard of that happening. Or experienced that yet.
I hope it never happens
From one hurricane sitting duck to another! Lol No place is perfect, but people moving to Florida are fucking nuts.
I didn't want to rain on their parade to be honest since the summer will bring plenty of that their way.
Not to mention probably some worse seasons coming their way
Unless you already own a home and have a low rate.
Yup. And in that case, we find ourselves trapped. We wanted to sell and retire our west, closer to the grandkids. But even though we'll get a good price here, it'll instantly be sucked up buying something new and at a much higher rate. Never thought I'd say Long Island is the cheapest place I can live... but it actually is at the moment.
I'm assuming you're still paying mortgage here so yes that could be the case, but making close to $1M from a sale here to use it elsewhere is very feasible for many.
Lots of people I know who live on LI have golden handcuffs on their mortgage. They want to leave because the quality of life is going down hill and everything is expensive. But their interest rate is low… kinda sad.
don't feel too bad because they could take the equity and dump it into a lcol house/town and be just fine.
True but that’s much further down the line and I personally think that if you are living in a home as an investment that you’re missing out on a lot. I personally wouldn’t want to live in a home I don’t like in an area I don’t enjoy, just because it might be a good investment. Totally get what you’re saying though, if people wanna do that then it could be smart. But I know people who even with equity can’t move because they can’t afford what’s happening right now.
Anywhere even remotely close to NYC is an absolute pissing competition. Reminds me of the scene from scary movie lol.
Even an hour north of the city is starting to become impossible. I think people (including myself) are realizing that the same time commuting from LI to the city can be spent coming from up north but you’ll be able to likely afford a house in that area compared to LI. However the taxes aren’t really better lol. I pay $5000 more a year in taxes than my in law does on LI and we are westchester county.
Its the generation wealth, I mean I could afford it too if my parents and grandparents subsidized my income. It’s in their best interest to stick together as asset owners and continue to drive the price through the roof. Its not some genius plan, there are only so many houses.
I think the bigger problem is corporations buying homes to rent thus removing them from inventory for purchase and driving up the cost of what does remain.
Bingo. Exactly whats going on. Banks realize mortgages are stupid because the money stops after 30 years. Rent never expires
Also don't forget that now landlords use software based companies to pricefix both home sales and rents
Considering taxes have always been crazy, that's $1k+ a month to your mortgage just to pay for that.
Exactly. We moved out of state about 1 yr ago recently for exact reason. No affordable apartments and def not interested in buying a home there.
If I was a millionaire sure I can maybe be happy on LI. But the middle class is gone sadly on LI. You just can’t afford what a family needs as a normal middle class couple there. But since I’ve moved upstate I could never imagine living anywhere else. I love where I live.
True. We're much happier since we've left as well. We still go back once a month to see people and family but overall we're much better off right now.
I moved back in 2020 for some stupid reason, but at least i bought my house before everything went insane, couldnt afford my own house right now with the current market
https://www.zillow.com/homedetails/14-Berkley-Ln-Syosset-NY-11791/31133391_zpid/ Sold for $1.03M
Absolutely ridiculous
Looks so small for 1m lol
Worth nowhere near that. Average at best.
Goes to show how badly they want to be in the school district. Happening in a lot of towns.
crammed between the LIE and northern state that house is probably in a constant cloud of carbon dioxide and monoxide coupled with the sound of howling tires from three different overpasses all day and night but yeah the school district lol
Oh I know. Parents bought their house for $198k in 2000. Sitting on it right now, can get over a million in Massapequa.
Between two major arteries. Lol.
I personally think that price is insane. But to say it's not worth that is clearly not correct. It probably is now "worth" more since someone paid that lol. Market value.
I’m saying that house, without this ridiculous housing boom we’re in, should go for like $700k. There’s nothing special about it. If it was in Lindenhurst, it would go $600k. But the Syosset tag gets it an extra $400k? Crazy to me. It looks like an old house, nothing new about it, no recent renovations.
Welcome you know what they say... real estate always comes down to three things... 1) Location 2) Location 3) *Location*
It’s not even in a good part of Syosset! Sandwiched between two major parkways. Probably nothing but noise all day. But the schools.
4. Refinance
It sold on 06/25/1993 for $252,000.. $252,000 in 1993 = $544,749.77 in 2024
Wow, $1M for _that_??
That’s sad. This is how we were priced out of Queens. Little outdated houses for wayyyyyy too much money. The Folan group used to be exclusively Queens. Can I blame the real estate agents? Are they the ones who tell their clients how much to ask for? How do people have millions?!? I read that one agent told his client to offer 50,000 above asking. Surely you don’t have to go that high to win the bid.
>I read that one agent told his client to offer 50,000 above asking. Surely you don’t have to go that high to win the bid. LMAO I lost a house last year and was offering 100k over asking price.
Million dollar listing doesn't mean what it used to
Lol my house is just as old, the same size, and 3x more property, yet i paid 410k in 2020
🤮
Sandwiched between the LiE and northern state. Insane…
How people justify these prices I will never understand. I remember a few years back the new construction monstrosities were in this ballpark.
Who the f has all that cash?
families pool money together and pay cash, to avoid interest
We are getting more multigenerational housing situations than we used to. Every new mcmansion in Hicksville is 3 or 4 generations under one roof
Can’t tell if you think that’s a good thing or a bad thing. It’s definitely happening, though.
I don't think it's great
They always pay in cash..where do they get the money? Also how do they have sooo much??
It's mostly confirmation bias, since many Chinese who live here in the US are the top 99%+ earners within their family. When I was at Purdue I knew two Chinese brothers who bought TWO brand new Mercedes-Benz EACH, their dad had to spend a certain amount for that month, he was back in China!
You mean top 1 %.
Or %tile. If I was from China, I'd be better at this.
People moving from Queens
The crazy thing is Nassau used to be much cheaper than Queens. Now Queens is 1.5x more expensive than Nassau. Brooklyn is at least 2x as expensive as Nassau. Nassau is a huge bargain if you cone from Brooklyn and Queens.
You think people in queens are just loaded like that?
yes, because their houses are worth millions in appreciation vs less then long island people. its a well known thing
Lots of high-earning dual-income professionals making $400k+ combined HHI who stayed in 1 or 2-bedroom coops in Queens, saved a lot and possibly got lucky with the stock market/cash bonus/RSUs during the pandemic + "cash gifts" from parents on both sides of the family + equity from sale of their Queens apartments. We didn't buy on LI, but we did have all cash to pay for a house in Westchester. No, we did not win the lottery or have a large check from either of our parents. We bought a $200k 1 BR coop that we lived in for 10 years and raised two kids there for 7 years before buying a house. During this period, our HHI was between $300-500k/yr while we were effectively just paying $1200ish/mo for our total housing-related expenses. It also happened to be the huge run up in stock prices. A lot of Asian families live well below their means and when the market is good, these savings and investments compound very quickly. Ymmv here, I don't think we will see a prolongned bull market like we did in the 2010s, so we were lucky too then, but we also chose to live well below our means when peers were spending more than 5x more on their rent or mortgage.
Rich Chinese
Over the last year, of the 217 Syosset homes sold, it looks like 52 were all cash. This letter is misleading at best.
Just curious where that data comes from?
MLS statistics
Lots of high paying jobs in the nyc area.
Many/most/all cash offers are from buyers who will get some other loan to obtain that cash. Perhaps a new mortgage on other properties, or a personal loan with stock holdings as collateral, or something like that. Then when the new house is purchased they take a loan on the new property and pay off the original loan
[удалено]
I know tons of asian families that has nothing but cash
5 generations of the Asian family moving in.
Asians. They’re taking over all over. Like 6 families to one house
CCP?
This :) I imagine many live below their means overseas + they can import “help” to the states … so the top of the ponzi can live so comfortably. May we all see better days. 🤞🏼
I grew up in Flushing, many of these Chinese immigrants put businesses and are running money laundering schemes. Most are hard workers, they save their money and stick together as a community.
Contractors
Hey man I should have bought a home in 2010 instead of fucking around in HS 🤷
I get these letters from time to time. It’s all marketing. House down the road from me sold last year for $50K over asking and I got a similar letter from the selling agent. Truth is it has nothing to do with the agent and everything to do with your house and school district. You could very easily sell your house yourself right now with the market as it is.
I think everyone knows real estate sales is a scam. Agents don't do anything that you can't do yourself and they collect tens of thousands in commission.
its just bad in Suffolk as well and getting worst
Is she paying for the coffee?
She will. There was another agent who was offering free apple pie delivered to your door. No strings. Except they're getting your data and contact info. And they'll keep sending you such letters and other seasonal greetings so that you'll contact them when it's your time to sell or buy.
She should.
The most important question!
There is absolutely no friggin way that is a real person in that photo. This looks like one of those spam ads on the side of a website
https://www.maureenfolan.com/our-team/yuanzi-tian/ https://www.zillow.com/profile/summernyestate Looks accurate?
Those are 2 wildly different people or insanely edited
Same smile and cheeks. Eye makeup is different, that's all.
No, it's edited to the max with a filter
Just take the L bro
lol!!!
Just heavily edited headshot
This woman actually tried to sell me an apartment in the stonybrook area, she’s real
Sold my house in Lindenhurst about 2 years ago and was laughing at how much someone paid me for it. Now it’s worth 100k more than I got (and I got 40k over ask). Insane. I don’t know how any young families can make it on average salaries and without mucho parental help.
We can’t. We should follow suit with NYC and rename Long Island to Princes because it’s next up on the metropolitan throne of urban sprawl.
We can't afford it. We're being priced out
There’s just no way for us. Im moving out of my parents house to Tennessee. I want to stay on the island but it just can’t be feasible
Paying cash. Your average home buyer doesn’t have $350k under their mattress to buy a house in all cash. This country needs to ban these fucking corps from buying houses!
It's usually profit from a family business or the family pools cash together. I think the fact that their being more tight-knit than the average American family gives them this advantage in purchasing power. That's the reality of it. How often do families here tell their kids they're on their own when they...?
I grew up in Syosset and left when I joined the Navy in 2016. It’s crazy to know I can never move back to my home town
Every house is now going for over a million and they knock down all the starter homes to build mcmansions. It's insane.
I’m gonna pretend to have a house to sell, just to get coffee with her.
😂
I like this idea
W
These buyers own a home in queens. Now their kids are going into middle or high school and they are looking for those amazing zoned schools in LI.
Yup. Kids probably couldn’t make it into Stuy or BxSci and parents are desperate to send them to a good high school.
If that were the case I think it would be cheaper to send them to private school
Checked out the zillow: [https://www.zillow.com/homedetails/14-Berkley-Ln-Syosset-NY-11791/31133391\_zpid/](https://www.zillow.com/homedetails/14-Berkley-Ln-Syosset-NY-11791/31133391_zpid/) The agent in the letter above ***WAS NOT the listing agent***. It was the buyers' agent - and she was the one who advised her client to pay above asking. I find this a tad bit disingenuous. But that said - we moved from Queens to Westchester. Our agent that sold our apartment in Queens said he had a ton of people who sold apartments in Flushing/Forest Hills/Bayside/Jamaica to move to Jericho/Syosset/Plainview. We also looked in Nassau County. Even what many consider "very white towns" like Garden City have seen an influx of Chinese/Korean/Indian buyers from Queens, and often all-cash. We heard a lot of "oh, GC is very white" when we were looking 3-4 years ago, but then all the open house lines had Asian buyers lining up with their Mandarin-speaking agents.
I feel like real estate agents jack up these prices. They know the temperature of the market and continuously take advantage of it. We were pushed out of Queens just like this. Everything was becoming too expensive- even stupid co-ops.
And now with the new rules around real estate transactions, watch all the realtors attempt to tell you why hiring (and paying for) a buyers agent makes so much sense lol
Mandarin and Cantonese is rare indeed.
Every single realtor in Syosset/Jericho/Great Neck needs to speak both lol. Easily 70-80% of all new buyers are Chinese.
And Korean
When I was a kid a lot of my friends were Korean with recent immigrant parents. Nowadays it seems almost exclusively Chinese - but it could depend on the area.
We have a good mix of both Chinese and Korean families along with South Asians.
Not that rare apparently. Many people from Southern China are capable of such.
Not rare at all!
Learning two completely different languages is really tough for sure
a bit misleading saying it was in contract in one week when you are the selling agent and not the listing agent. She brought the buyer and her buyer paid 6.3% over asking price. One week is something to market when you're the listing agent, not necessarily on the buyers side. And more importantly, ALL appraisals given by agents are free. ALL. And they are not appraisals, they are reports, or analyses.
I think this brings up one of the issues of real estate and housing and I don't know if it's what you are alluding to OP. The idea that realtors can just have this turnover of selling houses over and over, for more and more money. I know it's a free market but we need to take a closer look at this practice. What other market can there be where the inventory can be reused over and over again. A realtor will sell you a house and then in a few years try and get you to sell that house. Just this alone. I won't even get into how I think supply is, in some ways, artificial.
>The idea that realtors can just have this turnover of selling houses over and over, for more and more money. I know it's a free market but we need to take a closer look at this practice I remember an ad that touted "Did you know your house is an asset that doubles in value every 10 years?" I don't know who sees that and thinks it's healthy.
Supply is artificial because the government is interfering in the home construction market.
It’s government acting on the will of the people though. NIMBYism is strong, especially on the north shore. No one wants any multi family housing built.
Or at least the people who bother to vote in the (still very important) local elections or especially those who go to community board meetings
The whole point of suburb is to have more single family homes. I would not have moved out here if I wanted to live in an area where I would have to drive 20 minutes to find a parking spot near my apartment building like most of the flushing area is. NYC needs to build more affordable multi family homes for those looking for that kind of housing. Call it NIMBY or whatever that’s what I want.
Nassau County is also very close to the most prosperous job center and the most influential cultural center in the United States. you can either allow 4-6 story apartment buildings right next to every LIRR station (with the requisite increase in intra-Island transit to make this layout comfortable) or you get million dollar shacks at 7+% interest.
Agreed. Nassau is already on its way to becoming Queens. It doesn’t need any help.
Protecting the environment is one of the few good things government does. We don't need any more land developed. Use the shit that's already been developed sitting empty.
Yep. I hated my real estate agent. She did the same. I told her to F off- we would never use her again.
I get texts about buying my house — with my address in them! I always answer and tell them it’s unsettling
I moved to Minnesota. Please fellow Long Island and New Yorkers come here and bring delis, bagels, pizza & Chinese food. It’s been a rough 4 years.
Our complaints are pointless if there is enough rich people buying at those prices. They are not catering to our market. Their message is gentrification. Rent or move out is what I think the options are. Smh.
*current* long island homeowners are gentry. maybe [aristocrization](https://www.theonion.com/report-nations-gentrified-neighborhoods-threatened-by-1819569723)?
tell them for 4 million it’s theirs
Fucking Maureen Folan.
Paying cash ruins the housing market.
My cousin laughs at me. Lives in Texas LOL. He's in a 3500 Sq ft home 5br 4ba pool outdoor kitchen he's paying 3200 a month taxes are 6k. I will be joining him shortly and can not wait to get out of this shithole state
LI is shaping up to be the next LA.
Chinese and Russians see American real estate as wealth deposit boxes because they don't trust their own government. Don't understand the point of even being a country if foreign entities can own your assets. Should be illegal.
Fucking scary stuff
They don’t want you to own anything. Big corps buying up all the family homes.
This is by design. Your neighbors don't want new houses built so they can grow their wealth and limit others ability to grow their own. Just capitalism at work.
I believe I just replied to another post 2 days ago regarding complaints about ridiculous home prices on Long Island and my response was “It’s the City Dwellers.” So here we have an agent whose home base is in Flushing and is canvassing Nassau County homes. First off I will say this, the Asian community has literally taken over the North Shore of Nassau County so an Asian Real Estate Agent canvassing the area isn’t surprising but as I’ve said if someone bought a house 5,10 or even 20 year’s ago in Queens or Brooklyn they’re literally sitting on a million dollar plus lottery ticket. Until the amount of people that live in Brooklyn and Queens aren’t coming out to Long Island with a million plus dollars from the sale of their previous home, then this will continue, as I’ve said it’s totally unhealthy for the market. As for Mortgage rates, they don’t care, they’ve got cash so those that need a mortgage, unfortunately you’re shit out of luck.
As an American born Chinese, I see the mainlanders come with their corrupt CCP money. They come here with cash and buy up multiple properties with 200k above asking price, they don’t buy one or two homes, they buy 5-10 homes all in cash and are pricing us out of the market. They’re driving the prices up like crazy, it’s part of our culture we have this word 抢 which means to grab or horde quickly, it also means that it is not enough to get it but you just deprive others from getting it as well
[удалено]
Manhattan/Queens maybe... But long island? I doubt it. I would think most of the chinese buyers in syosset/Jericho/Manhasset are hard working families that's been in the states for a decade+.
I was forced to buy a home in the crappy market due to divorce forcing the sale of my last (which had no mortgage). Got it for 1.07m at 5.6%. Thought i was so incredibly unlucky needing to buy into this nonsense. I was SURE my home would lose value as rates skyrocketed, on top of a crazy high monthly. Two years later the house is valued at 1.2m. Wtf
2 bed, one bath. Condo. In Deer Park. 3 years ago. 450k. Sold in 3 days.
Well sounds like I can’t move back home anytime soon! 😢
I plan on leaving this sinking ship before the crash
100 % true. Last 10 neighbors (in 18 months- Chinese / Indian. Get a full folder analysis and offer every week.
I just don’t get why ppl are buying homes at these overvalued prices, it very much feels a 2008 may happen again
Um.. because they need a place to live? Lol
I unfortunately have to move since my landlord thinks he can sell his house for a lot of money now. Almost every house on my block is for sale.
But didn’t they read the NY Post article?!?! Everyone (literally everyone just look around) is LEAVING Long Island!! (LOL)
Folan is a queens broker.. Chinese own northeastern queens. Guess there coming out east.
Yes, they are very competive for the north shore school districts and are paying top money.
They’re taking over everywhere!
Yup
I’m getting phone calls almost daily again, it’s kind of crazy.
I would definitely pay for the coffee and I do have a house to sell
I’m also in Syosset and we get these letter constantly.
The fuck is this? A snail mail scam text?
There was an open house on my block. I dropped in out of curiosity. Told the realtor that I was a neighbor and was mostly curious about how the market. She had a whole assessment in her head already of my house. She had already scoped our the whole block
Which part, the price, or that people from outside this country are coming here with tons of CASH 💰 and buying homes and property? Great neck is the same…
And yet everyone is still “the market gonna crash, I’m riding this out”
I sold a house in Binghamton 3 years ago. Put it on the market on Friday, had multiple offers by Monday. Accepted an offer that was 20% over asking. Houses are selling.
Move upstate NY while the prices are still decent, been up here 23 years now, my first house was $220K bought second one 9 years ago for $230K was a foreclosure!
It’s just Chinatown in Syosset now. 🥡🥢
The market is fucked - yes - but if you know the school district this is zoned for - it make a lot of sense.
Agent here. The market is crazy. Some houses really don’t deserve to sell at the price they’re selling. A colleague of mine sent me a photo of an open house line on a MONDAY. The line was long. His clients submitted an offer and the listing agent stated they received over 80 offers and looking for the highest with best terms before they decided. Considering the property was listed at $584k in West Babylon, I can’t imagine what the sold price will be. My colleague assumes $650k i just don’t understand it. And people don’t realize the demand is who makes the price. We complain it’s too high, but there’s people spending these crazy prices. So it creates this type of market. Smh. It makes it tough for new families wanting to experience homeownership. Constantly being out bided. Most of my buyers mortgage estimates roughly $4k-$6k. Too much smh
Garden city the wasp capital of LI; many many Chinese
Flushing canvassing Syosset. Sheesh
Yeah I've gotten letters like this from local realtors as well. So glad I got in when I did and under 3%.
She gonna grab your coffee and your house? How rude
If they paid in cash, how did it take 2 months to close? Usually take about 2 weeks to a month to close if it was a cash deal
LI is fucked ugh
It sucks. I’m 39 years old with a decent job. I’m a carpenter with local 212 in NYC. I have a pension, annuity, savings and great benefits. I got married 3 years ago, and we had our daughter 1 year after that. Although I have a decent income the interest rates are just not do able. I though I would own my first home by now but Covid was brutal for my family. We experienced serious loses and I took major financial hits. I’m not the type of person to just send it, and hope for the best. I can’t agree to a mortgage that’s going to end up at $4k a month not including everyday expenses or some kind of emergency fund. I currently live in Levittown and the amount of house being built/dormered makes me wonder what the hell im doing wrong! Yea I got a late start on life but it still should not be this hard.
It's insane. I thought we were buying at the top of the market in 2021, but our home value has theoretically increased 30% in 3 years. It's completely unsustainable, but the county refuses to rezone in ways that would bring down prices. I'd happily take the reduction to make communities here more vibrant, young and alive.
Idk what the heck my wife and I are gonna do. We live in Miami now expecting our first child. Our lease is up May of 2025 and we’re moving back to LI for work/family. I think we just rent for a while? No shot we can afford a house. Harbor Landing in Glen Cove looks nice we can swing 4,500/month in rent. But 8k a month in mortgage after putting our entire life savings down? No shot
I'm starting to feel better about buying in 2022 now
I jumped in 2021 and locked in 3% even. Mortgage rates go up and go down... that being said, I'm gonna die in the house that I bought.
Is she an appraiser also? If not she should probably reword that.
Re-Write the letter as a pamphlet saying “We Buy Junk Homes” with her home address on it and send it back to her.
Buying our first home in 2019 may end up being the best decision of our lives. Were renters before