In the Region | Long Island: Condo Prices Give Pause

According to an interesting article: Condo Prices Give Pause on NYTimes.com, the Long Island market has been at a standstill, much due to the face that the number of homes, condominiums and cooperatives on the market is growing and tighter lending restrictions are in place, which have reduced the amount of eligible buyers.  However, these market conditions have further fueled buyers to seek bargains within the condo/co-op market.  However, the article further illustrates that many brokers selling condos in the Nassau area are charging more than buyers are willing to pay.  Brokers argue, that buyers can get a house and pay less in taxes than in common charges and condo taxes combined. 

Read the entire article: Condo Prices Give Pause on NYTimes.com