Home Buying in Elmhurst>Question Details

Ahtone, Home Buyer in Elmhurst, IL

what can be market of one or two family house in flushing or elmhurst queens in 2-3 months? which is more

Asked by Ahtone, Elmhurst, IL Wed Aug 6, 2008

logical and benefical to let home price fall or mortgage rate increase?

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Answers

5
Why do all agents always say sell and give there contact information? In my area, Flushing, prices seem to be falling dramatically for 1 family houses but not so much for 2 family homes. In my own case, Zillow shows a drop in value of my house of 70k in the last month. Crazy, but it is what it is. So essentially, the answer is really dependent upon if your house is a one family or a two family. If its a one family, then the near term prospect is not good, but if it is a two family, then you are better off.

The second question I notice the real estate agents DID not answer. Of course, it again is complex. If you are selling, it is better to hope neither happens, but you have little control over rates so you can only lower your price. If you are buying, it is always better to negotiate a low home price than a better interest rate. The interest rate can always later be renogiated down if rates fall, the price never can be. But again, you want both prices low and interest rates low, and who is God that they can perfectly determine this perfect conjunction?
0 votes Thank Flag Link Sat Aug 9, 2008
Depending on the and the zoning play a big role in price i have actually a couple of homes in elmhurst for sale if u need assistance call me 7187082971 my name is oscar from century 21 best its the largest office in the queens area.
0 votes Thank Flag Link Sat Aug 9, 2008
i am a cautious buyer having headche in between prices of Queens houses and going up of mortgage rates.
0 votes Thank Flag Link Wed Aug 6, 2008
Sell Now if you must . Otherwise your home will sell for less in the months to come.

Henry
917-497-0729
0 votes Thank Flag Link Wed Aug 6, 2008
by the end of this year, can mortgage rate drecrease back seasonally (after summer/spring real estate market) and/or home prices fall more (in Queens NY especially Flushing or Elmhurst, home prices does not drop dramatically like other states like California-sacremento, Nevada-Las vegas, Florida etc, isn't it?)
i suppose house prices can drop upto 10-15% more as the lenders are very strict and rates are going up and closing costs are increasing
0 votes Thank Flag Link Wed Aug 6, 2008
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