Many people are asking me about the current housing market conditions in Nassau County (NY), specifically in the following five towns, Woodmere, Cedarhurst, Lawrence, Inwood and Hewlett. In general, the real estate market is very slow, but I definitely see some signs of a comeback in Nassau County.

For example, the single-family homes are starting to move. There is a pick-up in activity in the number of transactions as we approach the end of 2009 amid low interest rates and available inventory. The sector having some difficulty recovering is the Co-Op market. In general, Co-Ops have been always an attractive option for buyers with lower budget but this time there is still enough people who fear to lose their job after the purchase.

The main factor that helps the housing market in Nassau County (NY) is the fact that the government has extended its economic stimulus plan to buyers - all purchases must be under contract by April 30, 2010. The credit applies to first time homebuyers as well as to current homeowners if they have lived in their homes for five of the last eight years. First time homebuyers are eligible to receive up to $8,000 tax credit and current homeowners up to $6,500.

Personally I think there are many deals out there and buyers may take advantage of low financing and credits for their new purchases. As a good example see ZAG# 0000581 - 29 Woodmere Blvd.