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

This unit in Mitchell Garden Co-op is located at 139-15 28 Rd. It is 1 block off Whitestone Expressway where parking is easy. It is a six stories building built in 52. Maintenance is $691 includes electric, gas, water, heat & real estate tax. Buses, supermarkets and schools are within walking distance.

Asking price is $228,000. For Virtual Tour, click here or visit our web site KinRealEstate.com

This co-op is located at 38-15 149 St, just off Roosevelt Ave & 2 blocks from Northern Blvd.

It is a six stories building built in 1955, managed by John Lovett & Associates .

The maintenance $7300 includes electricity, gas, water, heat and real estate tax.

Long Island Railroad, buses, subway & supermarkets are within walking distance.

Asking price is $219,000.

For Virtual Tour, click here or visit our web site KinRealEstate.com

The house is at 43-15 165 Street, Flushing, NY 11358. It was sold in August 2009 for $862,000.

It is a semi-attached brick house built in 1955 with 2-car garage, private driveway, a deck at back, brick patio and a finished basement which has seperate entry. The lot is 29x100. Real tax is $5,068.

The location is just 2 blocks from Northern Blvd. Long Island Railroad, buses and supermarkets are nearby.

It is located at 3-04 91 St - 1 bedroom 1 bath about 770 square feet. Sold for $130,000 in September, 2009. 

There are six 6-stories buildings in the complex which was built in 1927. The unit sold is located on 91 St between Northern Blvd & 34 Ave, just 2 blocks from 37 Ave & 3 blocks from Roosevelt Ave for shopping and subway. The monthly maintenance fee is $500 which includes electric, gas, water, heat & real tax. The building is managed by Wentworth Management.

It is located at 35-64 89 St - 1 bedroom 1 bath about 621 square feet. Sold for $220,000 in Aug, 2009. Centre Court Condo is a 6-stories building built in 1927. The building is located on 89 St between 35 Ave & 37 Ave, just 1 block from Roosevelt Ave. The monthly common charge is350 includes water & heat. Real tax is $1895 a year. The building is managed by Pride Property Management in Englewood Cliffs, NJ.

Many people hope they would have Insider Information so they can make money in stock. Although some information is limted to certain people, but you many get some insight by observation, no matter of your position or not even working.

A cashier will know whether the business is good, an inventory clerk will know whether the inventory is moving, a housewife can see whether there are more or less people in supermarket. These all are information that we can use to make money.

If you see no traffic on the Long Island Expressway on a regular day, it may indicate trouble - people are not going anywhere.

I am a real estate agent, information I have is only limited to the Long Island Area which include Queens, Nassau & Suffolk. Although the Existing-Home Sales will not be released, by National Association of Realtors, until later this month on or about 25th, but the trend in my area will be pretty much the same as the national. More than that, from the Chart above, you may see the trend is similar to S&P 500 Index.

Because of the cycle, usually real estate activity peak in summer around Aug and bottom in Feb, so at this point I will sell stock and buy back later in lower price. If I am right I make money in stock. If I am wrong the business bloom, I make money in real estate. That is a hedge!

Disclaimer: I am not a stock broker. This is not an investment advice. I am just a real estate broker specialized in selling co-op in Queens.

Bad news is there was less units sold in August than July, but the good news is the sales was better than last year. Inventory built up a little bit. Median price on closed sales was still dropping .

The sales in the past few months might be boosted by the First Time Home Buyer Credit. Some buyers might be lured to buy sooner. I am afriad the demand may be decelerated in the coming months.

While the stock market bounced almost 50% since March, I think it is time to be fearful when others are greedy.

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

................. Aug 09 ...... Aug 08 ......*..... Aug 09 ..... Jul 09 ..... Aug 08

Queens ...... 9905 ........ 11171 .......*..... 758 ......... 827 .......... 676 ......*........ 13.1

Nassau ....... 9702 ....... 10435 .......*...... 952 ........ 1058 ......... 829 ......*........ 10.2

Suffolk ..... 12893 ........ 14650 .......*.... 1090 ........ 1144 ......... 935 .......*....... 11.8

Median Price on closed properties:

................ Aug 2009 .... Aug 2008

Queens ... $390,000 ... $410,000 (-4.88%)

Nassau .... $420,000 ... $477,500 (-12.04%)

Suffolk .... $350,000 ... $370,000 (-5.41%)

Source: Long Island Board of Realtors

It is located at 138-20 31st Rd - 2 bedrooms 1 bath about 1000 square feet.

Sold for $182,000 in Aug, 2009.

Linden Towers Co-op #1 is a 6-stories building built in 1953.

The building is located on 31 Road between 138 Street & 140 Street.

The monthly maintenance Fee $840 includes electric, gas, water, heat and real estate tax. 

It is managed by Delkap Management in Howard Beach.

There were less inventory than last year. Units in contract is more than last year, but sales began losing momentum after trending up for few months.

It is still hard to tell whether the real estate market hit bottom yet. I won't say unitl this coming season's bottom (around Jan/Feb 2010) is higher than last (Feb 2009).

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

................. Jul 09 ...... Jul 08 ......*..... Jul 09 ..... Jun 09 ..... Jul 08

Queens ..... 10044 ...... 11510 .......*..... 827 ......... 957 .......... 765 ......*........ 12.1

Nassau ..... 10117 ...... 10877 .......*.... 1058 ........ 1081 ......... 963 ......*......... 9.6

Suffolk ..... 13097 ...... 15186 .......*.... 1144 ........ 1229 ......... 964 .......*....... 11.4

Median Price on closed properties:

................ July 2009 .... July 2008

Queens ... $355,000 ... $399,900 (-11.23%)

Nassau .... $415,000 ... $458,500 (-9.49%)

Suffolk .... $350,000 ... $389,000 (-10.03%)

Source: Long Island Board of Realtors

This co-op is located at 3324 91 Street, Jackson Heights, NY11372, on 91 Street between Northern Blvd & 34 Ave.

It is a six stories building built in 1958.

The maintenance $490 includes electricity, gas, water, heat and real estate tax.

Subway #7 is on Roosevelt Ave & 90 St, just 4 blocks away.

Asking price is $129,000.

For Virtual Tour, click here or visit our web site www.KinRealEstate.com