Home Selling in 11691>Question Details

Mr Taxpayer, Home Buyer in 11691

Why are the home prices so high in one of the poorest and worst communities in Queens?

Asked by Mr Taxpayer, 11691 Wed Feb 25, 2009

There is nothing worth $ 220,000.00 in Far Rockaway , this looks and feels like a real estate sham ...

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Average price per square foot for Far Rockaway NY was $229, an increase of 9% compared to the same period last year. The median sales price for homes in Far Rockaway NY for May 11 to Jul 11 was $332,154 based on 78 home sales. Compared to the same period one year ago, the median home sales price decreased 3.7%, or $12,846, and the number of home sales decreased 25.7%. There are currently 220 resale and new homes in Far Rockaway on Trulia, including 1 open house, as well as 66 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Far Rockaway NY was $441,545 for the week ending Aug 03, which represents a decrease of 1.1%, or $5,084, compared to the prior week.
Web Reference: http://www.clovelake.com
0 votes Thank Flag Link Sat Aug 13, 2011
As someone who has rented in this community for over 20 years and cannot afford to move into a home of my own: this community has a large Jewish population that is willing to pay that much more for a home here than the average. There are Jewish schools all over the place and the Jewish community is willing to spend more to be near these brand new Jewish schools and synagogues here.
0 votes Thank Flag Link Sat Aug 13, 2011
you pay for ocean breeze and ocean sunset...
0 votes Thank Flag Link Sat Mar 21, 2009
that depends upon your criteria for home valuation versus that of others.. There are people, believe or not, in this economy, who are willing to spend that much money for a home even though the infrastructure is inefficient, the amenities required, such as Food Markets, Movie Theatres, book store, are non existent.
0 votes Thank Flag Link Sun Mar 1, 2009
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