Celebrating 10 years! 2007-2017

Should I sell my home?

Long story short, I bought my house in Astoria, NYC for $77k waka04/09/17
You are welcome. prodigy04/09/17
Consider the value of your home and compare that to the valu isthisit04/09/17
The devil you know... there is comfort in knowing how to mak vohod04/09/17
I will purchase your home in Astoria for one dollar and othe 3lol04/09/17
They used to sell homes for $1 in the 90s! HUD homes that th waka04/09/17
When I was doing real estate I encountered a guy who had bou 3lol04/10/17
Taxes in Queens are cheaper. However, if you want to move to prodigy04/10/17
Taxes stink on LI. I grew up in Queens and my parents still associatex04/10/17
Your Astoria property will never go down in value. And why m adamb04/10/17
Real estate isn't going to crash dramatically any time soon. mrtor04/10/17
Real estate goes in cycles, and we're about due for a correc dakotalaw04/10/17
I moved from the outer boroughs to LI and I love it. The tax notiers04/11/17
The Astoria market is pretty strong. The market is going to orange904/11/17
waka (Apr 9, 2017 - 9:41 pm)

Long story short, I bought my house in Astoria, NYC for $77k in 1993. Over the years I've noticed that prices have slowly crept up, and now it has gotten to the point where I am very tempted to sell.

It's my home and I really don't want to leave...but I'm sensing an eventual collapse in RE prices! Anyway, if I do sell where would I go? Long Island?

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prodigy (Apr 9, 2017 - 9:53 pm)

You are welcome.

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isthisit (Apr 9, 2017 - 10:58 pm)

Consider the value of your home and compare that to the value of homes where you want to move to. If the math makes sense and you want to move, than do it.

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vohod (Apr 9, 2017 - 11:01 pm)

The devil you know... there is comfort in knowing how to make a stubborn waterline to stay open, how to upkeep a particular fence, etc. versus moving somewhere and facing a year or two of unknowable surprises.

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3lol (Apr 9, 2017 - 11:24 pm)

I will purchase your home in Astoria for one dollar and other good and valuable consideration.

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waka (Apr 9, 2017 - 11:34 pm)

They used to sell homes for $1 in the 90s! HUD homes that the government just needed to unload.
I wish I could go back in time and buy more

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3lol (Apr 10, 2017 - 12:05 am)

When I was doing real estate I encountered a guy who had bought about 15 apartment units in a building in Queens and held them for about 25 years, generally losing money on them. He bought them for maybe 20-30k each and was selling them all for 200-350k. He played the long game and he won big.

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prodigy (Apr 10, 2017 - 12:24 am)

Taxes in Queens are cheaper. However, if you want to move to the Island is a good move.

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associatex (Apr 10, 2017 - 8:31 am)

Taxes stink on LI. I grew up in Queens and my parents still live there. They wont move near me in Nassau because of the insa e traffic and high taxes.

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adamb (Apr 10, 2017 - 8:48 am)

Your Astoria property will never go down in value. And why move BEFORE the next crash, which most suredly will happen in the next 3 1/2 - 7 1/2 years. Buy cheap after if you want to move.

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mrtor (Apr 10, 2017 - 10:24 am)

Real estate isn't going to crash dramatically any time soon. Sell if it makes sense for you under the circumstances. Hang on to it if not.

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dakotalaw (Apr 10, 2017 - 1:51 pm)

Real estate goes in cycles, and we're about due for a correction. Sell now and then rent and wait out the next correction. 1-3 years.

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notiers (Apr 11, 2017 - 12:09 am)

I moved from the outer boroughs to LI and I love it. The taxes suck, but you also don't have to pay city
Income tax, so depending on your income, that can be a big savings.

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orange9 (Apr 11, 2017 - 2:07 pm)

The Astoria market is pretty strong. The market is going to have some sort of crash in the near future. The deregulation is going to creep back, and due to the younger generations not really saving and delaying major life events, the rental market is going to be very strong. As a result, there will be a market, but no one buying.

Astoria is pretty strong though. I am not sure what you own and the desirability of it to a renter, but the rental market there is pretty strong. My family owned a piece of property on 31st St near the bridge. A developer bought our property and the adjacent property and is now building a high rise. The area is really gearing more towards renting than owning, so you may be able to take advantage.

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