7 Pheasant Lane, Asharoken NY
7 Pheasant Lane, (pictured above) a 6000 sq. ft on a full acre, is home we currently are offering for sale at $1,800,000 is a great bargain. It’s like getting the land for FREE!
Even as the weather cools the local housing market remains hot. Low inventory, low interest rates and high demand from many buyers fleeing the city continues to fan the flames of this sellers’ market.
Prices though high, appear to be leveling off from the unsustainable annual 20% increases we’ve seen since the Covid-19 outbreak. However, if you are waiting for a price decline to purchase your dream home, keep dreaming.
Ramped up inflation, astronomical material costs, labor shortages and outside investors with deep pockets seeking a hedge against a volatile stock market are all competing for homes in already tight markets.
Traditionally “fixer-uppers” provided first time home buyers with entry level options. Today however with construction costs exceeding $300/ foot the better value is often preexisting homes which were constructed prior to the pandemic and remain unaffected by shortages and delays.
While some sellers are still getting bids over the asking price, particularly homes below $700,000 the question remains, where do they go? Unless you have a huge property tax burden, it may just pay to stay.
领英推荐
Thinking of going South, think again. Many previously desired “cheap” destinations are no longer a bargain. Prices have escalated due to heavy demand and limited new construction at affordable prices. Also, taxes are increasing in many areas as growing populations require spending increases in infrastructure and social needs. ?
Navigating residential and commercial real estate requires a whole new level of sophistication and understanding. As a Licensed Real Estate Broker, I have built relationships with buyers, sellers and a team of experts who know how to get the most for my clients even during these turbulent economic times.
James Izzo, Licensed Real Estate Broker??631-459-7540
Cow Harbor Realty, 67 Main Street Northport NY 11768