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Market Conditions in 10007 : Real Estate Advice

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  • Home Buying2
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Activity 142
Wed Nov 5, 2008
Dynamaxrealty.com answered:
Try www.streeteasy.com.

They have psf by building. I do caution that buyers will try their hardest to take advantage given the current market conditions, ie hard times to sell.
0 votes 2 answers Share Flag
Wed Nov 5, 2008
Aileen-Manhattan-NYC answered:
Financial District, Harlem, Upper Manhattan. Keep in mind this is still Manhattan. Don't expect a general crash in real estate prices. Let me know via email if you want more specific info. ... more
0 votes 4 answers Share Flag
Wed Oct 29, 2008
Aileen-Manhattan-NYC answered:
According to Miller Samuel:

Washington Heights - 10032
Manhattan
Co-ops + Condos
Average Price Per Sq Ft
2007 - 2008
Studio 1-Bedroom 2-Bedroom 3-Bedroom 4+Bedroom All
3Q, 2008 417 624 501 564
2Q, 2008 733 503 831 465 679
1Q, 2008 644 860 439 647
4Q, 2007 648 801 824 729
3Q, 2007 675 669 677 674

You should be able to do the percentages on your own. All of the info was from the Miller Samuel web site. They're a great resource for you and I recommend you contact them if you need more specific information.

I'm acquainted with Washington Heights. If you need a referral, please think of me.
... more
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Wed Nov 5, 2008
Chris L. Christie answered:
Jacqueline,
If you cannot continue to carry both for too long, quickly determine which property that you can afford to carry.
Not knowing your financial situation it is impossible for any of us to assist you with that decision. Personally, I am a Certified Mortgage Planning Specialist and that is what I do for a living. If you are interested in discussing this in detail, please email me at chriscmps@gmail.com and we can review your circumstances. ... more
0 votes 5 answers Share Flag
Tue Sep 23, 2008
Pascual Paul Tarrats answered:
New York City, unlike the rest of America has a real estate mind of it's own. Prices have not droped much, even thought the rest of the country has. I predict a very slight change, but space is still in shortage in NYC for all the people that want to live there. It's about Supply and Demand. ... more
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Mon Sep 15, 2008
x answered:
Too soon to tell....I could give a very long winded answer, but it is just too early.
0 votes 2 answers Share Flag
Fri Oct 3, 2008
Jolie Muss answered:
Isabel,
I would think that because of the current popularity of Williamsburg, it might be easier to rent that way. On the other hand Harlem is very accessible to the students at Columbia and Fordham, so it's really pretty equal. Since you will be staying there in the summers, it's really important that it's located where you feel most comfortable...In addition it would probably have to be a condo, as most coops have restrictions on renting. Why do you ask about waiting until December? Let me know..
In any case let me know if I can help you find a summer home in Manhattan or refer you to someone in Brooklyn!
Jolie
Jolie Muss
Licensed Real Estate Broker
331 Columbus Avenue
New York, NY 10023
Office: 212 721-3301
Email: jolie@joliemuss.com
Web Site: http://www.joliemuss.com
Trulia: http://jolierealty.com
Real Estate Blog: http://www.myspace.com/nycexpert
... more
0 votes 8 answers Share Flag
Thu Aug 28, 2008
Glenn Minnick answered:
There have been modest declines in some areas of the market, especially in cooperatives where there is a lot of inventory. However, condominiums continue to increase in price due to all of the foreign buyers now. With the weak U.S Dollar, Europeans are snapping up condos which is helping to keep the overall average prices up. I handle soley high-end condominiums and we're seeing foreign buyers by the "boatload" now...thank goodness as they are doing wonders for the NYC economy. Our office is having a record year again for sales...we've already surpassed 2007 numbers as of the middle of August. ... more
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Sat Dec 12, 2009
Richard Daub answered:
That would depend on what you are looking for. Condo, co-op, new development, etc. I am working on a new development on West 115th Street called the Delany Lofts (click on the link below to see the listings). We are 70% sold and our developer wants to get the remaining apartments sold ASAP, so call me so we can talk because the prices you see are negotiatble. There are even units with outdoor space. My number is 917-657-6532 and my email is rdaub@warburgrealty.com. ... more
0 votes 2 answers Share Flag
Thu Apr 17, 2014
Chris L. Christie answered:
Fannie Mae and Freddie Mac are federally backed/insured entities that were long ago set up to provide subsidized mortgage funds to the public through mortgage banks. The Fed and Treasury depts. recently solidified their financial standing.
They were never sub-prime lenders. Have you ever heard the expression "never throw out the baby with the bath water"?. Sub-prime lenders and hedge funds created our current mortgage mess.
Fannie recently had serious accounting issues about 2 years ago because they refused to pay KPMG for proper accounting reviews. When the Feds stepped in, realized that management were more interested in their dividends and share values, Fannie lost their Chairman and several others.
Find the property that you are in love with and work with a reputable mortgage bank and you'll be fine.
Make sure that you are fully prequalified (income, assets, liabilities and credit history) for this mortgage and don't stretch your finances to the extent that you can't enjoy this property that you are in love with!!
... more
0 votes 16 answers Share Flag
Tue Jul 22, 2008
Richard Daub answered:
I would say in terms of real estate investing, when in doubt go with New York. I don't know much about the New Jersey market, but I do know that NYC is a safer bet over the long haul. You also might want to consider Harlem as well. I am very busy and don't see the market overall turning soft, but there are some very good deals out there that buyers are taking advantage of. Give me a call or drop me a line to further discuss your options. My phone is 917-657-6532 and my email is rdaub@warburgrealty.com. ... more
0 votes 6 answers Share Flag
Mon Jul 7, 2008
Alen Moshkovich answered:
Hello Elizabeth.
This is strange, I've responded to your question and it didn't seem to go through, so let me try at it again.

I'm not sure if it's really possible to answer that question correctly for several reasons. You haven't specified which neighborhood you were looking in, because Down Town, Up Town, East Side or West will all be very different in prices for the apartments. Another factor would be the building type, is it pre-war or post, high floor or low and do you have views, also the size of the apartment. Does that building offer any services and amenities to it's residence or does it simply have a door man and that is it. As you can guess, the more amenities and services, the higher your maintenance charges will be and the opposite is true.
Few days ago our new 2008 Market report came out and I can send it to you in an email if you like to review it, it will give you further details.
Also here is a quick break down of prices.
Studio - $436,035 avg price
1 bed - $759,154
2 bed - $1641,764
3 bed is $4M plus.
This report is for the 2nd half of 2008.
I wish that I could have answered your question better, but you can see how thats difficult.
Do let me know if there is anything else thats on your mind.

Best Regards
~Alen, M
... more
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Thu Jul 17, 2008
Aileen-Manhattan-NYC answered:
Being in real estate is essentially "being your own boss". You determine your schedule, you determine how much time and energy you put into your own business. So being a part-time agent can mean getting part-time results and part-time pay. If you're happy with that and can find a local, small broker who will allow you to do that, then that's great . Have you thought about working for a rental building to work as a leasing agent part-time? It could be worth looking into, but I don't know how you would be compensated. ... more
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Mon Jul 21, 2008
Zack answered:
Define close. Pretty much all of NJ, large portions of LI, westchester is weakening in some areas and if you move past that, most of it. The C/S index for the NY metro area has shown a decline for every month since november of 2006. I know the real estate is local fairy likes to claim that all that decline is elsewhere but many of the areas surrounding manhattan are stagnant or in decline. ... more
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Sun Nov 23, 2008
Henry Cunalata answered:
James please your email address and I will provide the information you are requesting.

Henry
917-497-0729

www.QueensLIRealtor.com
0 votes 3 answers Share Flag
Sun Jul 6, 2008
Adina Greenberg answered:
At this moment there are 12 active listings for sale. I added their maintenance and devided by 12.
The number is $575
0 votes 1 answer Share Flag
Tue Sep 30, 2008
Johnny Barnand answered:
Good Question, the Manhattan core holds value well close to transportation (below 110th in the west side and 96 street and below in the east side) , best areas - 5th avenue , park in UES always hold good value even during recessions , a bit so for UES and UWS as long as your not far from transportation. Areas to watch include harlem and inwood and washington heights which decline price-wise firstly when gentrification occurs. A bit more information is needed but yes this is generally correct. ... more
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Sun Apr 27, 2008
Mitchell Hall answered:
No one can really time the market or predict the future. The best time to buy is when you really need to and want to and can afford to buy. It should be based on personal reasons and conditions not market conditions.

If you don't need to move now you can wait and see what happens. Markets change gradually and it's impossible to know when it bottoms or tops. If you're planning on living there for at least 5 - 10 years it won't make that much of a difference what the "short-term" market is when you buy.
... more
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Thu Apr 11, 2013
Jonathan Miller answered:
Sorry for the delay - we posted the data the day the report was released but due to technical problems we had to pull them down. I am told we will have the charts up by monday and the data should be up soon as well. Thanks for your patience! ... more
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Mon May 19, 2008
Mitchell Hall answered:
Hi Linda,

A full Central or Riverside park view apartment can cost 50% more than the same apartment facing the back of the building.

A few years ago Miller Samuel and the Furman Center for Real Estate and Urban Policy at New York University conducted a study that looked at attributes and amenities in coop and condo features ranging from the age of building, fireplaces, terraces, views, financial requirements, square footage, doorman etc. and gave each a premium.

Feel free to contact me if you would like to receive listings by email of Central Park West and Riverside Drive apartments.
... more
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