Kin's Blog: September 2009

This Building is located at 3326 92 St, Jackson Heights, NY 11372.

Southridge Co-op is on 92 St between Northern Blvd & 34 Ave. It is a six stories building built in 1958, managed by Wentworth Property Management.

The maintenance $570 includes electricity, gas, water, heat and real estate tax. The unit is about 900 square feet.

The location is just off Northern Blvd & just 3 blocks to Roosevelt Ave.

Asking price is $189,000.

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

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