Peter Goodman's Page

Why is now the time to buy a short sale on Long Island? From all the research I have done, you should see two trends happening in the housing market for 2009: prices falling by at least another 10 percent due to discounted sales, such as foreclosures, and sales are going to increase dramatically.

In December 2008, the overall median closing price for Long Island and Queens went down by more than 10 percent from the same time a year earlier, dropping from $425,000 to $381,800, according t… Continue

Short sales on Long Island are on the rise and may be the only option for some homeowners. We know Long Island homeowners are desperately trying to save their properties from foreclosure. Short sales are one of the alternatives available to homeowners in distress. As a real estate attorney on Long Island, I find the average Long Island homeowner may not be familiar with the risks and benefits of a short sale.
So what exactly is a short sale? A short sale is when your lending instit… Continue