Buying and selling real estate in the communities of Long Island
BloggersValerie Kellogg Kristin Lavin Taveira Maura McDermott Lisa Doll Bruno
U.S. home prices are up about 10 percent right now from the same time last year, multiple national reports have shown, yet local reports have indicated that Long Island's appreciation is just half of that -- or even less.
The closely watched Case-Shiller Home Price Index most recently reported a 9.3 percent nationwide increase, while a similar measure from market analytic firm CoreLogic, released...Read more »
Though foreclosures are falling nationwide, Long Island remains a hotbed for distressed properties. Nassau and Suffolk counties combined for the third highest percentage of foreclosed homes in any major metropolitan market outside of Florida, according to a report released Tuesday by analytics firm CoreLogic.
The report found that 6.5 percent of all mortgaged homes on Long Island were in some...Read more »
The number of Long Island homeowners whose mortgage debt surpassed their homes' value surged last year.
Nearly 1 in 10 Long Islanders with mortgages -- 9.9 percent, or 53,639 households -- owed more than their homes were worth at the end of 2012. That share was up 3.1 percentage points from the same time in 2011, when 36,594 households were "upside down" on their mortgages, according...Read more »