INVESTORS EN MASSE IN MERRICK, NY 11566

By
Real Estate Agent with Charles Rutenberg Realty Inc. "Said and Done!" NRDS ID#641625055
http://actvra.in/LF9

 

INVESTORS EN MASSE IN MERRICK, NY 11566

 

IN THE AFTERMATH OF SUPERSTORM SANDY, NEW YORK REAL ESTATE DIED.

Abraham Maslow's Hierarchy of Needs teaches us that until the basics of air, food, drink, shelter and warmth are met, we can't possibly concentrate on anything else.  jill sackler

Fast forward two weeks coupled with a seasonally mild couple of days and the phones are ringing off the hook. Investors are coming out of the woodwork to see if they can pick up a steal in areas devastated by the storm.

Some displaced owners have become completely overwhelmed by what promises to be a long and tedious process. The time, cost and effort that will be necessary to rebuild the homes has them feeling confused and at a loss for direction. They may prefer, instead, to accept a lower selling price on their house just for the convenience of transferring title "as is."

Sticker shock may be the only downside to this arrangement. Homeowners may not be prepared for the lowball offers that are coming in from these mainly all-cash investors. Fair market value will be difficult to determine in light of all the destruction. Still, for some, it will be the perfect solution to this emotionally draining event.

On the South Shore of Long Island, as well as in other parts hard hit by Sandy, real estate has been impacted in myriad ways. It may be some time before we know how long it will take to get back to normal.

 

Posted by

CHARLES RUTENBERG REALTY INC.  *****  "SAID AND DONE"  *****

ABOUT THE AUTHOR:  Senior Real Estate Specialist

Jill Sackler, NYS Licensed Agent based on Long Island's South Shore
 
 

Jill Sackler

 

 

  

     Specializing in Lifecycle Real Estate Transitions

"When your family doesn't fit your family home, I can help."
 
 
     reach me @516.395.8376
   

   

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 ©Jill Sackler 2010

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Topic:
Real Estate Market Trends
Location:
New York
Groups:
Long Islander Agents
Diary of a Realtor
I Love NY
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Tags:
ny 11566
merrick
investors en masse

Comments 6 New Comment

Rainmaker
720,337
Mike Cooper
Your Winchester, VA Real Estate Pro
Winchester Real Estate Sales, Cornerstone Business Group Inc

Jill, I am very impressed that you quoted Maslow's Hierarchy of Needs.  Not a lot of folks out here would know that, but it's a good source to reference.  The sad truth of a crisis like that part of the country faced is that it always brings out the vultures.  Good luck with that. 

November 16, 2012 02:22 PM
Rainmaker
918,759
Belinda Spillman
Your Real Estate Resource For Life!
Aspen Lane Real Estate LLC

Jill,  I'm sure there are lots of people looking to find the deal of the century.  Hope it gets back to normal soon.

November 16, 2012 03:34 PM
Rainmaker
782,870
Joe Petrowsky
Your Mortgage Consultant for Life
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709

I pray for all those that are living this crisis. For many, there lives will never be the same. It will take a long while for many to get back to a "normal life".

November 17, 2012 04:00 AM
Rainmaker
1,374,786
Lawrence "Larry" & Sheila Agranoff. Call 631-805-4400 (c)
Long Island Condo & Home Sale Specialists
Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803

Jill, So many people were displaced and so many sad stories out there. It's too bad that these "investors" are already trying to take advantage of this awful situation!

November 17, 2012 04:53 AM
Rainer
135,363
Andrew Capelli
Fidelity National Title

Jill: Interesting post.  I have mixed feelings about the cash investors.  On one hand, I don't like seeing anyone profit on another's misfortune.  On the other hand, it could be a very nice, quick out for some families for whom the ready cash more than offsets having their lives on hold.  Ah well- all part of the quest for self-actualization, eh?  Thanks for sharing!  :)

November 19, 2012 10:44 AM
Rainmaker
483,211

Jill Sackler

Long Island's South Shore Real Estate Agent
Long Island Living - Where Memories Are Made
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