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

This is one of the serious stree-sale areas in Queens. Currently there are 71 2-family on the market 3 are REO, 22 short-sale. For 1-family 1 is REO, 16 short-sale. There is not many REO as last year and a lot less than 2 years ago. Is all the REO been sold or Banks hold off selling? I have no answer for that.

Inventory as at 06/26/10:

71 units of 2-family - median asking price $399,000 (16 months supply)*

39 units of 1-family - median asking price $299,000 (13 months supply)*

6 units of condo - median asking price $232,500 (72 months supply)*

4 units of co-op - median asking price $115,000 ( months supply)

*Based on the closings in the period 6/1/09 - 5/31/10.

Units closed in the period 6/1/09 to 5/31/10:

53 units of 2-family - median selling price $224,000 (43 were REO, 6 were short-sale)

36 units of 1 family - median selling price $215,000 (18 were REO, 1 was short-sale)

1 units of condo - median selling price $105,000

0 units of co-op

Date source: MLS of Long Island

Disclaimer: Data represented transactions reported to MLS only, it didn't reflect all transactions in the area

I love real estate, doing the business for 18 years already.

I love watching World Cup, the Commercials too. Every time around World Cup there would be many new commercials which is very entertaining.

McDonald - putting all old TVs into a huge screen. It is very creative.

Bud Light - use "Lost" theme, very funny.

Budweiser - fans making the picture to distract opponent, it cracked me up.

AT&T - ...if you do it right, it take just ... 1 second. "Second make all the difference", Inspiring.

Travellers - Take the scary out of your life

Allstate - The best protection cover every angle.

Addidas & Puma - fast sport action that fired me up.

Single-family was moving well. 2-family, co-op is about 12-months' supply. Condo inventory level is very high.

Inventory as at 06/18/10:

42 units of 2-family - median asking price $1,049,000 (12 months supply)*

28 units of 1-family - median asking price $724,000 (6 months supply)*

133 units of condo - median asking price $429,000 (45 months supply)*

94 units of co-op - median asking price $249,000 (11 months supply)*

*Based on the closings in the period 6/1/09 - 5/31/10.

Units closed in the period 6/1/09 to 5/31/10:

41 units of 2-family - median selling price $770,000

54 units of 1 family - median selling price $567,500

35 units of condo - median selling price $350,000

96 units of co-op - median selling price $219,400

Date source: MLS of Long Island

Disclaimer: Data represented transactions reported to MLS only, it didn't reflect all transactions in the area

Inventory level is high, it will take almost a year to sell all the listings based on the previous 12-months' sales.

Inventory as at 06/08/10:

16 units of 2-family - median asking price $928,000 (12 months supply)*

43 units of 1-family - median asking price $749,000 (12 months supply)*

148 units of condo - median asking price $429,000 (41 months supply)*

118 units of co-op - median asking price $202,000 (11 months supply)*

*Based on the closings in the period 6/1/09 - 5/31/10.

Units closed in the period 6/1/09 to 5/31/10:

16 units of 2-family - median selling price $847,500

43 units of 1 family - median selling price $660,000

43 units of condo - median selling price $369,980

126 units of co-op - median selling price $189,500

Date source: MLS of Long Island

Disclaimer: Data represented transactions reported to MLS only, it didn't reflect all transactions in the area.