Real Estate Prices going down? Where?

Everybody has their own Upstate, but for all practical purposes it’s anything past those counties What Exit pictured. Essentially the state past Woodstock. Including Albany. If you ever been to that area you know how similar it is to Syracuse, Rochester, Buffalo, and Binghamton. The median prices in Albany and Rensselaer counties may be $50,000 higher but that’s still a small fraction of the hot zones.

:slightly_frowning_face:

As they say downstate: da fuck?

@What_Exit is not the same as @Whack-a-Mole (no matter how much he/she wishes otherwise).

Maybe you were not referencing me but since @What_Exit has not posted in this thread pretty sure it was not that person.

Ah. Got it. I think what happened is that I had two replies in my notice box, the other was from What Exit, and that stuck in my head. Sorry.

But as long as we’re talking “what,” what can anyone be thinking when they post a emoji with no other information and assume that will be understood? I still have no idea what @Jackmannii meant.

I think the poster would assume that the person reading it would look more closely at the post it was in response to and figure it out.

That’s just me though.

So tell me what Jackmannii meant in that case.

I was just looking at the National Association of Realtors map of median home prices by County. In California, which now has a median home price of >$800 K, if you’re willing to live away from the coast, generally you will be in a market with median home prices below $350 K.

In fact, if you are willing to live in the far northeast of the state, you’ll find a median house price of about $150 K (with the added bonus of getting in on the ground floor of the State of Jefferson).

That’s the problem - you can only live like a king in those places if you can find a job there that pays as much as the job pays in the more expensive location or if you are moving there after retirement or if you’re going to walk away with a lot of money after selling a house/apartment in the more expensive place.

My brother-in-law lives just outside Rochester NY. His house is nearly twice the size of mine , he has 4 times as much property and his house is worth half as much as mine in NYC is. Problem is, my husband would earn half as much in the Rochester area as he does in NYC. We could sell our NYC house now and have enough cash to buy a house in the Rochester area with a lot left over - but if we had sold and moved up there 25 or 30 years ago, we wouldn’t have been living much better up there than we have in NYC *

* Although my job in state government pays basically the same no matter where I work, there are about 25 positions in my title in the NYC metro area , and only 3 in the Rochester/Buffalo area. If I had moved to Rochester back then, I probably would not have the same title I have now.

He expressed doubt about the veracity of your statement. As to the details of that doubt it’s just as hard to tell as if he’d posted “Really?”

Geez, I was just making a mildly snarky remark about the pleasures (or lack thereof) of living in upstate New York.*

*I once spent several years one winter in Syracuse.

I think that is about to change. I’d love to move but live in one of the states with the 5 hottest markets and this month, for the first time in a bout a year, I’ve seen houses with price cuts. There have been a few articles over the past couple weeks wondering if price have finally peaked.

I grew up in Otsego county and studied in Ithaca. I hear ya

:cold_face:

Our son has spent three winters in Ithaca and has never complained. His final semester is going to be in LA this coming winter, so it may be a big adjustment.

Was it Harry Chapin on Greatest Stories Live said of Watertown “I spent a week there one afternoon” ?

If he did, he was paraphrasing a very old line told about a million different places. W. C. Fields is supposed to have said that about Philadelphia.

Interesting news:

You would sort of expect Zillow to know what houses are worth. But if they are flipping houses and losing money it suggests house prices may be going down.

While they may know what a home is worth it sounds like they have no idea what construction costs. Especially in the last 3 years the cost of construction has skyrocketed so I would guess they are paying too much for their distressed homes and then not able to sell them for enough to get their money back then assuming home prices are decreasing.

To put a marginally finer point on it:

A Zillow “For Sale” sign recently went up in my neighborhood. When I saw both the asking price and the price Zillow had paid for the property, I knew they had lost their ever-loving minds.

But I’m definitely going to contact them and see if they’d like to buy my house … y’know … before they totally tank that arm of the biz :wink: