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Absolutely yes. If you have decent credit you should be able to qualify for a conventional mortgage at a decent rate form any of several good local/regional banks. $120K to $150K gets you a decent house in a nice neighborhood in this region. It's important to factor in the ongoing cost of taxes as part of you budget process. Housing prices here are low but taxes on a $120K house will likely be about $300 - $350 per month.
Dewitt is indeed "boring" but the same could be said about much of Syracuse and the surrounding areas if one drills down to particular neighborhoods. Dewitt is popular because the public schools are decent, housing prices are still within reach for many and the location is very convenient. You can commute to Upstate Medical and SU without getting on a highway yet yopu are still close to Rte 481 that provides easy access to the Thruway. That said - if I worked at Upstate and my spouse woudl be commuting to Utica I would look at Fayetteville or Manlius as the best options simply based on geography and convenince of commute.
On top of that good information, if you go with Cicero, you might be better off living in a part of town close to Route 481, as that would take you to the Thruway. Maybe an area like Hiller Heights or some of the streets off of Taft Road(Leroy, Trelign, Rosewood, Hilmar, etc.) or off of Thompson Road/Northern Boulevard where there is some newer developments behind Believer's Chapel church(Island Road).
Another area that might work is the Fremont area of Manlius in the East Syracuse-Minoa SD. It is close to the Fayetteville Towne Centre and to highways like 690, 481 and 90(Thruway). Same with the newer Canterbury Woods development in Minoa.
Last edited by ckhthankgod; 01-14-2010 at 02:12 PM..
Ive looked at the Manlius-Fayetteville area, and two things that bothered me:
1) the taxes are insane! One house I saw (about $135,000 I think) gave an estimated annual tax of $8,000+.
2) The houses are kinda expensive.
That said, I do like the travel distance to both the hospital and Utica.
Right now, I'm leaning a little towards Cicero. I kinda like the newer neighbourhood feel. Not forgetting having Walmart, Wegmans, Target and so on around the area is a huge plus. Houses and taxes seems more manageable as well.
We are trying to schedule an appointment with mortgage officers from HSBC (our bank). I swear to god, they are avoiding my phone calls...I called both Utica and Syracuse branch today and not a single person picked up.
Ive looked at the Manlius-Fayetteville area, and two things that bothered me:
1) the taxes are insane! One house I saw (about $135,000 I think) gave an estimated annual tax of $8,000+.
2) The houses are kinda expensive.
That said, I do like the travel distance to both the hospital and Utica.
Right now, I'm leaning a little towards Cicero. I kinda like the newer neighbourhood feel. Not forgetting having Walmart, Wegmans, Target and so on around the area is a huge plus. Houses and taxes seems more manageable as well.
We are trying to schedule an appointment with mortgage officers from HSBC (our bank). I swear to god, they are avoiding my phone calls...I called both Utica and Syracuse branch today and not a single person picked up.
That's why I suggested the east Syracuse Minoa SD, as it seems like the taxes might be a bit less in that district which is in both DeWitt and Manlius, as far as towns go. Here's an example: http://www.cnyhomes.com/Listing/Sear...?mlnum=S215506
You might actually be able to get into Clay too. Maybe something off of Bear Road, which runs right by 481 and is close to all of the things you want in nearby Cicero.
Thanks, I will check it out.
Just wondering, given that I've yet to speak with a mortgage officer, I can't help but keep wondering what price of a house can we afford, and roughly what the monthly payments will be.
I think together, we will make around $100k gross tax. We dont have any car loans or unpaid credit car balances. She does have a school loan that she will start paying off. She's not sure of the amount, but is guessing between $300-500 per month.
Our credit history should be pretty good, as we are pretty conservative and pay off all our bills every month.
However, we won't have much free cash on our hands, as we are having two wedding ceremonies. Its difficult to put a number on it, but I'm guessing maybe around $5k in cash for downpayment?
Just wondering, given that I've yet to speak with a mortgage officer, I can't help but keep wondering what price of a house can we afford, and roughly what the monthly payments will be.
I think together, we will make around $100k gross tax. We dont have any car loans or unpaid credit car balances. She does have a school loan that she will start paying off. She's not sure of the amount, but is guessing between $300-500 per month.
Our credit history should be pretty good, as we are pretty conservative and pay off all our bills every month.
However, we won't have much free cash on our hands, as we are having two wedding ceremonies. Its difficult to put a number on it, but I'm guessing maybe around $5k in cash for downpayment?
From what it sounds like, you should still be fine, as long as the price range is within reason. Considering the income and the price range, I think it wouldn't be a problem.
That's why I suggested the east Syracuse Minoa SD, as it seems like the taxes might be a bit less in that district which is in both DeWitt and Manlius, as far as towns go. Here's an example: CNYHomes - Detailed House Listing Information for MLS#S215506
Kinda like this one: CNYHomes - Detailed House Listing Information for MLS#S217176
The fully-fenced yard is a huge plus. We have a dog (dachsund), and I like to give my dog the freedom to run around off-leash and do whatever he wants without worrying him being knocked down by a car.
From what it sounds like, you should still be fine, as long as the price range is within reason. Considering the income and the price range, I think it wouldn't be a problem.
What would you say would be our max price range? I think $200k is too extravagant for us now, especially since we don't have kids. Do you think we can afford say $175k?
What would you say would be our max price range? I think $200k is too extravagant for us now, especially since we don't have kids. Do you think we can afford say $175k?
Probably, again based on the credit info. and income, but it all depends on what you are looking for too.
We are trying to schedule an appointment with mortgage officers from HSBC (our bank). I swear to god, they are avoiding my phone calls...I called both Utica and Syracuse branch today and not a single person picked up.
Give some thought to calling M&T or Alliance Bank. They have much greater local presence and a greater commitment to mortgage lending in the Syracuse area. I'm not knocking HSBC - they are a good customer of mine - but they're not the people I'd look to first for a home mortgage in this area.
A $135,000 home would yield total taxes of about $3900 in Syracuse and perhaps $4600 in Dewitt. I suspect Cicero would be closer to the Syracuse figure than that of Dewitt. Don't forget the NY State STAR discount. That should knock about $300 - $400 off the total figure. That Manlius tax number is shocking. I had no idea they were that high.
You need to look at *every* house listing in Manlius separately... if you sign up for the email list on the prudentialproperties.com site, it will list the annual taxes with the listings.
3bd, 1ba, two-car garage, nice deck, workroom, beautiful details/character/woodwork, 1526 sq.ft for $89,900... taxes of $1923. Also in Manlius. Note: there are no "bad parts" of Manlius. Property Details: Additional Photos
It varies wildly between listings. The newer the home, the higher the tax base. <---in general. In our little village of Manlius, these older homes are assessed for almost half of their actual value... and taxed on that assessment price. Developments from the 70's/80's/early 90's are more... maybe assessed at around 75% of actual value. New construction from the past 10-15ish years is assessed nearer to 100%... and again, taxed on *that.*
Then there's the issue of challenging increased assessments over the years. Homeowners who just let new assessments go through are going to have their taxes raised *every* year. Their taxes will be higher than their neighbors who fought it. And when they go to sell, it will be much harder to find buyers who feel like paying $100-$200 more/month for the same house, all because the sellers never fought higher assessments. You can see a clear difference in taxes between houses that are even next to each other.
Really- you have to look at every.single.listing.
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