Hi Sharon....Good Question.  No one can know for sure if Little Neck or Douglaston has reached its bottomHowever, because I work and live in Little Neck for 24 years I can say that prices are much lower and there are many people looking to live here. If you find a house that you like, I say go ahead and make that offer.
Are you going to live in the 2 family or is this stickly an investment? This matters. There are certainly other areas in the Tri-State that are also great investments. We can talk about this further, if you like. You can reach me ast 646 229 2699 Thank you and good luck Janice Eubank.

Hi Sharon, my office is in Little Neck. The prices have come down in LN / Doulaston like anywhere else in Queens. But LN / Douglaston have always been desireable areas for various reasons. Its definitely a good time to buy as the mortgage rates are extremely low (4.75 % or lower) . If this will be your primary residence then its even better because the rates are better for primary residence than investment property. My company owns a mortgage bank and a title company. I can help you in your search for a 2 family. Please feel free to call me at 646 594 6447 or e-mail me at sshrivastav@laffey.com You may also search our website for any properties single family or multi-family at laffey.com

If you are not working with a Realtor now is time to start interviewing agents. Mortgage rates are great; therefore if you see something you like don't hesitate. Feel free to contact me if you would like assistance with your search.

Sharon,

If you have not yet purchased a property, please let me know. My office is in Bayside and I live in Douglas Manor (11363). I would be happy to assist you with any additional information you require.

Very truly yours,

Douglas Montgomery, Bkr
HomeNY Corp.
718-279-8762

are you interested in bayside? 9178260705

we have huge inventory on our website, you can also call me at 516-7392243
we also can help in getting mortgage approved

Hi Sharon, have you found any properties you like? If not, please call me and I will help.

I live 10 minutes away in Bayside

Henry

917-497-0729

Real estate prices have absolutely skyrocketed the past years and rents have not come anywhere close. Since then houses are plummeting back to earth at an accelerated rate. For a graph of the case-schiller index adjusted for inflation, look at this: http://bp0.blogger.com/_pMscxxELHEg/R-k6W9DCIVI/AAAAAAAABwo/… All these things add up to real estate being a horrible investment. From a buy and hold standpoint, if you didn't sell in 2005-2006, you did worse than gov't inflation protected bonds. Currently rents won't even pay for your sinking investment. If you've run the numbers as an investment and found you can make it profitable, go ahead but i'd double and triple check those numbers.

If your strictly looking for an investment property and not going to be utilizing it at all - I would suggest looking at other areas where you would get more bang for your buck. Areas like Douglaston or Little Neck are very desirable and unless you plan on living there I wouldn't suggest to purchase and then rent out.
Because in the end no matter how much rent you can possibly get for the two apartments - its still not going to cover your mortgage. To me that's like buying a brand new car and making the monthly payments and then never driving it. Make offers if you plan on living there - if not look at other areas in the city for an investment.

The market slow down should not affect Douglaston or Little Neck as much as other neighborhoods. So if you like a property like it go ahead and make an offer.

Good Luck

Henry

I have a 2-family in Astoria...prices are still rising! Gerry is right...it's all about location. Now is the best time to buy!

Sharon, Location, location, location. As you know, Douglaston and Little Neck are very desirable places to live. Contiguous to highly desirable NW Nassau but w/the benefits of the City (including dramatically lower property taxes). People want to live in the area and they're willing to pay for the privilege. BTW: Will you live in one of the units? Let me know if you'll need help in analyzing your purchase/investment options. GerryV