Brian K, Other/Just Looking in New Hyde Park, NY

If purchased this year, what would the value of a co-op in the North Folk be estimated at one year from now? Would the change be minimal?

Asked by Brian K, New Hyde Park, NY Wed Sep 11, 2013

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6
None of us can predict the future and too many unknown factors for an accurate answer.....
1 vote Thank Flag Link Thu Sep 12, 2013
Well do you think it would go up, down, stay the same? And why?
Flag Thu Sep 12, 2013
There is no way of knowing if you will make money or lose money in real estate until you put the for sale sign in the front yard. No one can predict the market into the future without a crystal ball. It is just like the stock market it is like the luck of the draw. There are to many factors that play into what you can and can not get for a house when you sell it after you purchase it. Purhasing a home is the biggest investment you are going to ever make in you life and sometimes you win big and sometimes not so much. Good luck and choose wisely.
0 votes Thank Flag Link Tue Jan 28, 2014
That is a tough question to answer since the range is so broad. The North Fork offers co-ops that are small 2 bedroom cottages located in a sandy bay beach community. The region also has one and two bedroom co-ops in year round complexes with easy access to village shops. Another co-op community features large summer homes with park community, sandy beach and common center. Current financing guidelines also affect values as the markets shift.. It is difficult to forecast what these variables to do future values.
0 votes Thank Flag Link Fri Jan 24, 2014
This is a great question and if anyone could provide a guarantee, or an educated guess, that would be impressive!!! I have been selling Real Estate for over 25 years, and have learned not to engage in such guesswork.

As the age old adage says " you make money when you buy real estate, but your realize it when you sell".

Before you make an investment for purely appreciation in a short period of time, contact a good local broker and discuss the transactional expenses that are involved with both the buy and the selling ends of the transaction.

By the way, there are very few co-op opportunities on the North Fork, and there are a fair bit more condos in the market.

Please keep in mind that for many buyers, there are returns that can not be measured in terms of dollars !! Enjoyment of the East End at your own schedule, relaxing and going to our many beaches and fine restaurants , or just relaxing in front of a fire and reading a good book !

Good Luck, and be sure to contact a knowledgable local broker !
0 votes Thank Flag Link Mon Nov 11, 2013
The value of the co-op will be determined by similar properties in the area. No one has control over that.

If you want to keep yours in line with the others, keep or bring it up to the condition that others have.

Not keeping it up or leaving it as physically distress will bring the property down close to those in the same condition, with less value.

So it depends on... how much you bought the property for, and what kind of condition it is going to be in in a year's time.
0 votes Thank Flag Link Thu Oct 10, 2013
The township of Southold includes much of the North Fork's marketplace. If you look at: http://www.suffolkresearch.com/SoutholdTownResPrice_TABLE.htm… you will see our market data to date. The Southold township median sale price is up 2.29% for 2013. While I agree, we cannot predict 2014, it appears our downward trend has been interrupted.
0 votes Thank Flag Link Thu Oct 10, 2013
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