What do you make of the Suffolk North Shore prices? Houses don't seem to be moving and prices are not coming down. Do you agree? My areas of interest are Port Jefferson and Shoreham Wading River. I'm a very frustrated buyer. Highly qualified and nothing to sell–ready to move tomorrow if I found the right house for the right price. Any advice? Most sellers still think that it is 2006-7 (height of the crazy subprime market where prices artificially escalated).

Christine,

Houses are beginning to move, but at lower prices. I’m not sure you are looking at Port Jefferson (Station, Village) or the school district. Same for Shoreham/Wading River.

Eliminating homes in Belle Terre, and homes listed over 1 mil, there are currently about 44 homes for sale in the MLS in Pt Jeff. In Pt Jeff, there were 5 homes sold in June ’08 with an average sale price of 576k, (396, 458, 545, 849, 898), and 5 sold also in June ’09 but at an average of 502k (375, 399, 485, 530, 875), a 13% reduction (less than in many areas of LI).

Average sale prices have come down. I’m not sure what price range you are in, but we are finding that sellers are quite negotiable. We are the only true Exclusive Buyer Agency on Long Island, and diligently negotiate against the seller. If the seller doesn’t take our offer, we are willing to pass on that home and go to the next.

If you would like to call me, we can discuss strategy for your successful purchase. What ever you do, Good Luck.

Ira