The State of the Market for Buyers on Long Island

What is the state of the market for buyers on Long Island?

As experts in the Long Island real estate market, we get asked this question a lot.  However, the answer has many components to it.

First off, it really depends on the property type and location.

Single-family homes in great locations that are priced well have been flying off the shelves. There’s a lot of demand in the market for certain areas, while others can seem like ghost towns.

Buyers are often looking for the same thing – good neighborhoods, access to transportation, shopping, good schools, close to work, etc. Properties that deliver all these are definitely a hot commodity. Sellers with a highly desirable property are in control of the market.

But for condos and townhouses – especially those a little off the beaten path, or with some funky features – it can be quite a different story. Prices were down in certain areas of Long Island, but seem to be rebounding as the rental market increases.

Investment properties are in demand. The massive amounts of foreign cash flooding in to invest in US real estate have impacted the Long Island housing marketplace in unique ways.

Overall, those people in a position to pay cash for properties have been picking up the good deals in the marketplace.

Lots of sellers are trying out speculative prices just to see if anyone bites, but most investors are walking away from deals that don’t pencil out.

Financing is still a major obstacle for buyers. Banks are being incredibly strict, requiring lots of money down and even changing their terms at the last minute. It’s not uncommon for approved buyers to get their loans pulled right before closing escrow, although it’s getting better than it was just a couple of years ago.

Overall the markets remain incredibly polarized – there is a lot of action at the very top and the very bottom, with the biggest challenges in the middle.

Sound confusing? It is…but We Can Help.

There’s a lot of shakeup in the US economy still taking place, and the markets are moving fast in lots of directions at once.

We’re investing on Long Island because we believe in the community and the people here.

If you need to sell a property on or near Long Island, we can help you.

We buy properties like yours from people who need to sell fast.

Give us a call anytime (559) 546-1252 or fill out the form 
over here today if you’re looking to sell a Long Island house fast!

Ieishah Edwards

About Ieishah Edwards

In a society that has traditionally valued job security, Ieishah has demonstrated the ingenuity and perseverance it takes in creating and sustaining a successful growing business. She has displayed incredible drive, acumen and creativity which have positively impacted her business and the community she serves. Her goal, however, is to become a real estate investor who buys properties and/or sells them to end-users. The knowledge and experience of investing in real estate has grown tremendously due in part to her previous partnership with Anglestone Realty Acquisitions and OneSource Mortgage Company. This union has complimented this endeavor and has enabled her to develop a good business foundation in real estate investing. Ieishah decided to launch her own real estate investing business, HomeSites Property Holdings LLC. Within months after launching her own real estate investing company, Ieishah landed her first real estate deal. Now, as a full time real estate investor, Ieishah continues to invest in real estate and has never looked back. With the right drive, positive attitude, focus and idea, anyone can accomplish whatever is their passion in life. Focus on what you are passionate about, put together a marketing plan and take ACTION for results. Are you ready for the challenge?
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