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Old 05-10-2024, 04:14 PM
 
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I just read about a 15% drop in 1st quarter house prices in Elmira. Any particular reason(s)? Admittedly I dont know much about the area.

https://nypost.com/2024/05/10/real-e...ortgage-rates/
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Old 05-10-2024, 05:40 PM
 
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It is likely due to the population decline/stagnation and the economy. Though, if that figure is for the metro area, which is just Chemung County, areas such as West Elmira(cdp), Horseheads and Big Flats are nice suburban areas in the county/metro area.

You also have Corning and Corning Incorporated, a Fortune 500 company, minutes away to the west in Steuben County, Ithaca about 30-40 minutes away to the NE and Owego about the same to the east, heading towards Binghamton. Can’t forget Watkins Glen about 25 miles to the north of the city in Schuyler County.

Last edited by ckhthankgod; 05-10-2024 at 05:53 PM..
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Old 05-10-2024, 05:43 PM
 
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When the median price is that low a small decrease equals a large percentage change plus with interest rates higher it eroded purchasing power which probably made up most of that.

Seeing Houses for sale all around lowering prices. Is it because people are being greedy and trying to get more than the house should sell for or is it because people finally are priced out. Time will tell.
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Old 05-10-2024, 06:27 PM
 
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I am starting very preliminary search for possible retirement relocation from Long Island. My wife thinks it is crazy to look north and stay in NYS but I want to make sure I am not missing something. I would like to stay under 400k price.

We prefer suburban rather than real rural. I want to stay within drivable distance to family on LI rather than require a plane ride.

I have some family in Angelica NY but I think that is too small town for me. 30 years after moving in they are still the outsiders lol.

I guess the big question is upstate NY realistic for retirement? Is it really that different from LI? Does the frustration regarding NYC politics and its effect on the state decrease being up there? I do have to,say that right now being so close to NYC I have kind of had it with their insane policies and political persuasion.
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Old 05-10-2024, 07:30 PM
 
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Quote:
Originally Posted by NSHL10 View Post
I am starting very preliminary search for possible retirement relocation from Long Island. My wife thinks it is crazy to look north and stay in NYS but I want to make sure I am not missing something. I would like to stay under 400k price.

We prefer suburban rather than real rural. I want to stay within drivable distance to family on LI rather than require a plane ride.

I have some family in Angelica NY but I think that is too small town for me. 30 years after moving in they are still the outsiders lol.

I guess the big question is upstate NY realistic for retirement? Is it really that different from LI? Does the frustration regarding NYC politics and its effect on the state decrease being up there? I do have to,say that right now being so close to NYC I have kind of had it with their insane policies and political persuasion.
In terms of the bolded, if you are interested in the area, I would look in those areas I previously mentioned in the thread. I actually have a co-worker that is originally from Elmira, born and raised. He has a sister that lives in Horseheads and has mentioned that if he lived in the area, he would probably live in Big Flats. West Elmira is another, relatively higher income community in the area.

I'd say it is realistic due to the lower overall cost of living, which is on par with many of the places in the
South that people move to, if not a little lower.

Upstate is different due to being more spread out and the major/more populated areas are more moderate/live and let live or have more of a leaning one way or the other.

Also, if you want something suburban in Upstate, but within a reasonable drive to LI, I'd say to look into Binghamton area suburbs like Vestal(home to Binghamton U., has very good schools, plenty of shopping, etc.), much of the town of Union(inc. Endwell, parts of the Union-Endicott and Johnson City SDs) and Chenango.

I'd also say to look into Utica suburban towns like New Hartford(probably the most underrated suburban town in Upstate NY due to very good schools and plenty of shopping, while being relatively affordable for a relatively higher income town), Whitestown and Marcy(the latter two are largely in the Whitesboro SD). Utica is probably one of the most affordable metros in Upstate NY, if not the most affordable.

To bring it back to the Elmira area, what may help is that Guthrie has a good reputation in terms of health care and may be something else to consider.
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Old 05-10-2024, 08:59 PM
 
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Thanks for the info. It is much appreciated!
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Old 05-11-2024, 01:17 PM
 
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Quote:
Originally Posted by NSHL10 View Post
Thanks for the info. It is much appreciated!
No problem and if you have any other questions, just ask.

Also, just to add, Southport in the town of Elmira just south/SW of the city and the village of Elmira Heights just north of the city are other suburban communities in the area. Both are more working/middle class communities, with The Heights having walkability.

There is also walkability in the village of Horseheads and in West Elmira, with the latter being more in terms of having sidewalks. Horseheads has a solid Downtown area called Hanover Square and West Elmira is home to the Elmira Country Club.

Here are some home listings in Chemung County: https://www.realtor.com/realestatean...le-family-home

Last edited by ckhthankgod; 05-11-2024 at 02:04 PM..
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Old Yesterday, 06:02 AM
 
Location: Greenville, SC
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It's not a desirable place to live.
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Old Yesterday, 06:30 AM
 
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Quote:
Originally Posted by HowardRoarke View Post
It's not a desirable place to live.
Which may be to his advantage, as there are some communities in the area that are relatively affordable.

To be fair, some of the other areas on the list are high growth areas. So, it is more complicated than lack of desire/demand in an area.

Last edited by ckhthankgod; Yesterday at 06:40 AM..
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Old Yesterday, 12:12 PM
 
Location: Northeastern US
20,104 posts, read 13,560,465 times
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Quote:
Originally Posted by ckhthankgod View Post
It is likely due to the population decline/stagnation and the economy. Though, if that figure is for the metro area, which is just Chemung County, areas such as West Elmira(cdp), Horseheads and Big Flats are nice suburban areas in the county/metro area.

You also have Corning and Corning Incorporated, a Fortune 500 company, minutes away to the west in Steuben County, Ithaca about 30-40 minutes away to the NE and Owego about the same to the east, heading towards Binghamton. Can’t forget Watkins Glen about 25 miles to the north of the city in Schuyler County.
I live in Ithaca and don't get to Elmira proper very often but I was there on an errand there a few months ago and it looked pretty shopworn and sad. It was clearly a boom town at one time (that being, the time of resident Samuel Clemens, aka Mark Twain, who summered there from 1871 to 1903).

As for Corning NY -- while Corning Corp still maintains its HQ (and the Corning Glass Museum) there, they sold the consumer products division in 1998 and most of the employment has moved elsewhere -- primarily offshore IIRC. AFAIK there is no manufacturing, only administration there.

Ithaca still has Cornell University to prop it up, but I don't think there are any truly big employers still in the Elmira / Corning / Horseheads area. Like most of upstate NY, it lives up to the name "rust belt".
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