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Market Conditions in Queens : Real Estate Advice

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  • Local Info64
  • Home Buying585
  • Home Selling53
  • Market Conditions26

Activity 30
Mon Apr 1, 2013
Alex Lavrenov answered:
Christina, It usually counts as discriminatory for anyone to state demographics, my best advice , is to get an actual feel for the neighborhood.
0 votes 8 answers Share Flag
Mon Apr 13, 2015
Claire-Anne Aikman answered:
Los honorarios no se observan, mejor llamar al agente directamente para averiguar toda la información necesaria

Claire-Anne
0 votes 5 answers Share Flag
Wed Jan 30, 2013
Mohammedhossin83 answered:
Sat Jan 26, 2013
Anna M Brocco answered:
Unclear are you looking to buy, or sell...either way, in order to determine a fair price review comps with your agent, recently sold similar properties in the immediate area, see what the data suggests and go from there. Keep in mind that if a property is priced on target, or slightly below, multiple offers may occur.... ... more
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Sat Nov 16, 2013
Anna M Brocco answered:
Be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously, therefore visit with any licensed loan officer; much will depend on the type of loan; each co-op is different when it comes to downpayment requirements therefore also consider working with an agent of your own. The referenced property is not showing as available on MLS, for available area properties check www.mlsli.com ... more
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Wed Nov 28, 2012
Anna M Brocco answered:
For an accurate picture of costs, why not simply contact a few local contractors and ask for a free estimate...
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Wed Jul 13, 2016
Anna M Brocco answered:
Review the document with your attorney; generally offering plans are detailed pages that address disclosures of any property defects; building description; board and sponsor; purchasing and operating procedures; parties'rights and obligations, etc. ... more
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Tue Sep 25, 2012
Terry Korahais answered:
Hi Margaret, it would be my pleasure - give me a call or email me at your convenience. I've done many including back to the 80s. Terry K 718-614-3167 or TKorahais@elliman.com
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Fri Sep 21, 2012
Anna M Brocco answered:
When it comes to any safety/crime related issues, it's always best to contact the local police department with all your questions, hear all there is to hear firsthand. If unfamiliar with the area(s) do revisit more than once and at different times of day, possibly chat with locals/neighbors. Real estate professionals are prohibited from steering, enticing a buyer to purchase/rent, or not, in specific neighborhoods.
http://www.neighborhoodscout.com/
https://www.crimereports.com/
http://www.homefair.com/
... more
0 votes 1 answer Share Flag
Wed Jul 18, 2012
Roy Bracey answered:
Gregory,

A legal 2-family in Queens for under $300K is going to be tough to find at this time. Not impossible - but tough. If you are willing to put in some sweat equity (fixer upper) then you may get lucky with some of the Real Estate Owned properties or some of the Short Sales. Feel free to contact me at braceyr@yahoo.com if you have any additional questions or need help locating those types of properties. ... more
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Tue Aug 7, 2012
Anna M Brocco answered:
For school information see links below, also consider directly contacting the district with any questions you may have.
http://www.greatschools.org/
http://www.schooldigger.com/
https://reportcards.nysed.gov/ ... more
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Sun Apr 22, 2012
Jacques Ambron answered:
My personal opinion is that the prices will remain flat. Demand seems to be better than the recent past. Call my office when you are ready

Jacques Ambron
Broker
Madeleine Realty
718-520-0303
... more
0 votes 4 answers Share Flag
Thu Apr 19, 2012
Ian Perler answered:
Jackson Heights has a wide variety of housing stock including post and pre-war buildings and historic properties such as row homes, English style garden homes, garden co-ops and condominiums. The prices vary greatly depending on what type of property you are looking for and what your needs are. Please feel free to look at my website for more information about Jackson Heights. If you have any questions please feel free to contact me. ... more
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Fri Jul 23, 2010
Robin Silverberg answered:
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. ... more
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Sun Aug 18, 2013
Joseph Hastings answered:
I thought you were a private seller, but no. You don't give any critical information here. What is the square footage? what floor is it on, is it renovated, amenities, etc. You're the property manager here my friend. Surely you have access to sales information within the building. You can also check city records or the MLS. Turn off the Black Sabbath and Ozzy, stop bangin' your head and get to work! ... more
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Thu May 21, 2009
Nychicklet77 asked:
Tue Jul 27, 2010
KB Collins answered:
The market in South Ozone is REO and Short Sale driven unfortunately. If the competition is as you say distressed property owners the non-distressed property owner cannot and will not get the price they are looking for. You are absolutely correct. ... more
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Mon Oct 22, 2012
Gail Gladstone answered:
If you are looking to list your house, why not look for Marketing Agents....who marketed to agents who sell homes? And why just Maspeth? You want someone who markets to agents GLOBALLY! Buyers come from everywhere. ... more
0 votes 14 answers Share Flag
Mon Oct 6, 2008
Antolin Du Bois, CFP® answered:
Coops suck to begin with, but some suck worse than others. You won't ever be able to rent it out without hassles from the board, and they might be a crazy board like, "No wheels in the lobby" which means bikes and babies gotta go out the back door.

That being said, you will be paying 270,000/691= 390/sq ft. If it is 780 sq ft, then its 270000/780 =346/sq ft., both seem high to me, since I recently bought new construction in a nice part of the Rockaways for $304/sq ft.

Your mortgage payment including interest and principal will be 1400.97, your maintenance is what ??? 400? so that is $1800. After your tax breaks in year one your out of pocket costs will be about $150 less, since you will only get about 6000 more a regular EZ form, which means about 176/mo savings, figure 200. So your out of pocket costs will be about 1600. A one bedroom in Woodside rents for how much like 1300? which means that you are paying a 23% premium compared to renting.

The real question is, do you really like it, like it enough to live there for 30 years, and do you think that the neighborhood is going to hold its value. Also, what is the deal with parking- is it available, and how far to the train station is this place. Lastly, is this in one of the HISTORIC DISTRICT buildings, and how well has the building been maintained.

Again, my point of view is that co-ops suck, but if this one comes with parking or eventual parking, is near the train station, has been maintained, and is in a historic district, it might not suck so badly. But its hard to get around that 23% premium. Why not property shark it, trial membership or those 3 free per day deals, and see what the comparables are.

Good luck.
... more
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