Tony, Home Seller in Jamaica Estates, Que...

What does the Jamaica estates co-op market look like for the next 1-2 years for selling.?

Asked by Tony, Jamaica Estates, Queens, NY Fri Mar 5, 2010

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realestate_leader’s answer
Hi Tony,
Coops are valued by factors and in our area dont seem to follow the same trends as real estate. If you need a market analysis holler at me and ill see what I can do for you. The time to sell is when your ready reguardless of the market condition. When you sell and then buy if its done in the same time frame your purchase should match the value of your sale. When its time to go..... get packing.
0 votes Thank Flag Link Fri Jul 23, 2010
We cannot predict with certainty what the market will do with respect to coops in Jamaica Estates over the next one to two years. However, there are currently 16 coops available in Jamaica Estates ranging in price from $68,000 to $409,000. Over the past year, 43 properties have sold which indicates an absorbtion rate of 5 months - that's the amount of time it would take if no one else put their properties on the market to sell their unit. That's actually a pretty good absorbtion rate. With respect to value, much will depend on when you purchased your unit and how much you paid for it. If I can be of any further assistance, please feel free to contact me.

Ralph Windschuh
Certified Buyer Representative
Senior Real Estate Specialist
Associate Broker
Century 21 Princeton Properties
631-467-0009
rwindschuh@c21princetonproperties.com
0 votes Thank Flag Link Sat Mar 6, 2010
Unfortuantely, none of us knows what tomorrow will bring--if you are looking to sell, sell when you are ready and when it suits your lifestyle best to make the move--
0 votes Thank Flag Link Fri Mar 5, 2010
I don't think that anyone can predict that for sure. I lived in the Camelot when it was a rental back in the 70's, and it was brand new then, so I used that as a means of comparison. A unit there sold for $229,000 and it closed in December. There is now a high floor unit, totally renovated, also a 2 bedroom, and it is on the market for $234,000. This would lead me to believe that the prices could be dropping, however sometimes you can't tell why something is well priced, the owner could be very motivated to sell and therefore will price it low.
0 votes Thank Flag Link Fri Mar 5, 2010
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