Kin's Blog: Kin Tsui (Kin Real Estate)

Based on the first six month's data, the inventory level is very high and the median asking price is too high.

Inventory as at 07/15/09:

18 units of 2-family - median asking price $964,000 (54 months supplies, 19% above median sale price)

32 units of 1-family - median asking price $749,000 (17 months supplies, 18% above median sale price)

68 units of condo - median asking price $399,000 (51 months supplies)

112 units of co-op - median asking price $219,444 (22 months supplies)

Units closed in the first half year of 2009 - 01/01/09 to 06/30/09:

2 units of 2-family - median selleing price $810,000

11 units of 1-family - median selling price $635,000

8 units of condo - median asking price $359,000

31 units of co-op - median selling price $180,000

Units closed in the first half year of 2008 - 01/01/08 to 06/30/08:

15 units of 2-Family - median selling price $830,000

22 units of 1- Family - median selling price $682,500

26 units of condo - median asking price $377,500

71 units of co-op - median selling price $195,500

Source: MLS of Long Island

I was going to Jamaica to take some pictures on a house for a BPO order. The accident happened at the intersection of Grand Central Parkway & 164 St around 5:45 P.M.

The area is Jamaica, also know as Jamaica Estates with zip code 11432.

St John University and Queens Hospital Center  are located in the area. Our office was in the neighborhood, but was moved to Flushing.

There were 40 transactions in the area in the first half of 2009 (as recorded in MLS); 9 were REO. Price ranged from $170,000 to $985,000. Median price was $505,000.  

It is located at 29-49 137th St - 1 bedroom 1 bath about 700 square feet.

Sold for $148,000 in July, 2009.

Linden Towers Co-op is a 6-stories building built in 1961.

The building is located on 137 Street between Whitestone Expressway and 31 Road.

The monthly maintenance Fee $430 includes electric, gas, water, heat and real estate tax. 

There is a management office on the premises. 

Median Price in Queens and Suffolk were still declining in double digits, but Nassau improved comparing to June last year.

Median Price on closed properties:

................ June 2009 .... June 2008

Queens ... $360,000 ... $406,500 (-11.44%)

Nassau .... $415,000 ... $452,000 (-8.19%)

Suffolk .... $330,000 ... $383,000 (-13.84%)

There were less inventory than last year. Supply dropped to below 12 first time for over a year.

....................... Inventory ............*........... Units in contract ................*....... Months Supply

................. Jun 09 ..... Jun 08 ......*... Jun 09 ..... May 09 ..... Jun 08

Queens ...... 9922 ...... 11697 .......*..... 957 ......... 772 .......... 752 ......*........ 10.4

Nassau ..... 10105 ...... 11067 .......*.... 1081 ........ 888 .......... 889 ......*......... 9.3

Suffolk ..... 12907 ...... 15332 .......*.... 1229 ........ 908 ......... 1041 ......*....... 10.5

Source: Long Island Board of Realtors

The co-op is located at 9914 59th Ave, Corona, NY 11368. It is on 59th Ave between 99th Street & Calloway St. It is a 6-stories building built in 1961. The complex have laundry room, elevator, sitting area. The unit is about 550 square feet. Monthly maintenance is $492 which includes electric, gas, water, heat and real estate tax. The location is within walking distance to Queens Center Mall & Rego Park Mall.

Click here for virtual tour.

For other listings please visit our our web site www.KinRealEstate.com

The co-op is located at 35-50 85th Street, Jackson Heights. It is on 85th St between 35th Ave & 37th Ave. It is a hi-rise concrete building built in 1955. The complex have laundry room, elevator, private playground. The unit is about 750 square feet with a balcony. Monthly maintenance is $486 which includes electric, gas, water, heat and real estate tax. The location is convenient to shopping on 37th Ave or Roosevelt Ave and subway #7.

Click here for virtual tour.

For other listings please visit our our web site www.KinRealEstate.com

The co-op is located at 33-45 90th Street, Jackson Heights. It is on 90th St between Northern Blvd & 34 Ave. It is a six stories building built in 1958. The complex have laundry room, elevator, private playground. The unit is about 770 square feet. Monthly maintenance is $440 which includes electric, gas, water, heat and real estate tax. The location is just three blocks to Roosevelt Ave for #7 subway.

Click here for virtual tour.

For other listings please visit our our web site www.KinRealEstate.com

I have been using Yahoo 360 to blog since 2006.

Now the Blog in Yahoo is integrated into user's Profile. The new platform cannot attached photo, but can be linked to the place where photos are stored such as Flickr.

Now I am using ActiveRain to hold my blogs.

I blogged many times predicting the collapse of stock market and real estate market since 2006. The blogs in Yahoo 360 are stored in my Yahoo Profile.

If you are first-time homebuyer (who have not owned another principal residence at any time during the three years prior to the date of purchase), you may be qualified for the credit of $8,000 if you puchase a home before Dec. 1, 2009.

So if you are thinking about buying a co-op, you have to hurry to find one in July or August in order to close the transaction before Dec. 1 as the purchase process may take about 3 months.

If you are seller, you should put on the market now to catch those first-time homebuyers. 

The co-op is located at 33-04 93rd Street, Jackson Heights. It is on 93rd St between Northern Blvd & 34 Ave. It is a six stories building built in 1958. The complex have laundry room, elevator, private playground. The unit is about 1100 square feet. Monthly maintenance is $767 which includes electric, gas, water, heat and real estate tax. The location is just three blocks to Roosevelt Ave for #7 subway.

Click here for virtual tour.

For other listings please visit our our web site www.KinRealEstate.com