I think, alot of Banks and Pre-forclose sellers, are getting savvy, for example certain properties that are in the border line of Forest Hills, like corona, Rego Park, Kew Gardens, and Kew Gardens Hills, use a 11375 zip code to go along with that property address. You will see that the heart of Forest Hills like 68th Avenue to 74th Avenue prices actully climbing.
I thing the spring or Summer , you will see a Surge of Buyers and much less inventory, especiayl with a 35 year low on interest rates, and a slowly improving economy.
"I think we will continue to see foreclosures disproportionately impacting areas such as Queens, Long Island, etc.," Neiman told The Post in an exclusive interview, adding: "Due to job losses, we will also start to see a rise in those counties that were not previously as impacted."
Rick Sharga, senior vice president of real estate data and online foreclosure marketplace RealtyTrac Inc., expects foreclosures to keep rising here through the end of next year as the New York area, which had lagged other parts of the country, hits its plateau.
According to Sharga, New York has the longest foreclosure cycle in the country by far, with an average of 455 days from initial notice to sale.
The growth of delinquencies keeps adding fuel to the foreclosures mess. As of August, 10.5 percent of New York metro area prime loans more than 30 days delinquent were becoming cured, the industry term for returning to current payment status, according to statistics rating agency Fitch Ratings compiled for The Post.
from the address of those pre-foreclosures in trulia, I believe they are in forest hills area not flushing. Please take a look at each of them. I know forest hills is a very good neighborhood. that is why I ask this question. Can you prove these pre-foreclosures listed in trulia is not true?
To my knowlege, I have not seen any foreclosures yet in this area. It might be Flushing, cause thats the main post office box for 11375.
I think Forest Hills is going to be "Another Brooklyn" and "Brooklyn is another Manhattan"
I also want to ad that the Public schools in Forest Hills are some of the top schools in NYC.
I was looking into that area and I really don't see the so many foreclosures, this area is a good area. Sometimes the surrounding area might have some foreclosures but not Forest Hills. Do you have some specific houses that you see? The price in this area going forward will stay the same for now, not much increase going forward as well as no more decrease.