There is no denying the current economic conditions of inflation, low interest rates and low inventory has increased home prices on Long Island. While this is certainly a contributor to the increase on home prices, it does not explain why the homes in East Meadow have increased more than its surrounding counterparts.
Listed below are three major factors contributing to the increase of home prices in East Meadow.
With a location sitting between four major parkways, two running north to south and two west to east, the accessibility to these major forms of transportation are highly sought out by homebuyers. In addition, after the events of Hurrican Sandy, many homebuyers are unwilling to buy a home located within a flood zone. And to put the icing on the cake, the flood insurance premiums on Long Island are expected to go up 18% this upcoming year.
Homebuyers, especially coming from the west (towards NY city) continue to realize that the farther east of the city they go, the more they get for their money. The realization leads many of these homebuyers to East Meadow.
If East Meadow's location and home prices were the bait, the school system would be the hook. With the support of community members and city officials, East Meadow schools have become a complete school district with two schools ranking a perfect ten out of ten, three schools ranking an almost perfect nine out of ten and two schools ranking a still very impressive eight out of ten.
With the recent approval of the first joint East Meadow Schools and Public Library capital project bond referendum, the future of the East Meadow community looks strong. East Meadow's commitment to growth and improvements have and continue to increase the value of the homes within the community.
Last but not least, give me a call at (516) 232-6943 or email me at email@example.com if you are interested in finding out how much your East Meadow home is worth or would just like some friendly advice. I’m here to help.