Kin's Blog

Sold - 1 bedroom in Southridge Co-op, Jackson Heights

Kin Tsui (Kin Real Estate) — Thu, 14 Jan 2010 15:44:04 -0600

The unit is located at 33-44 91 St, #4M, Jackson Heights, NY11372 - 1 bedrooms 1 bath about 770 square feet. It was sold for $128,000 in December, 2009.

The building is a 6-stories building which was built in 1958. It is located on 91 St between Northern Blvd & 34 Ave. There is laundry room, private park in the complex. Subway is on Roosevelt Ave which is just few blocks away.

The monthly maintenance fee is $491 which includes electric, gas, water, heat & real tax.

Housing price is still falling

Kin Tsui (Kin Real Estate) — Thu, 14 Jan 2010 15:17:52 -0600

There were more units under contracts in Dec 09 than Dec 08, but slowed down from Nov 09.

Median price was still in a down trend.

..................... Inventory ..............*........... Units in contract ...................*....... Months Supply(based on contracts in Dec 09)

................ Dec 09 ....... Dec 08 ......*..... Dec 09 ..... Nov 09 ..... Dec 08

Queens ...... 9079 ......... 9822 .......*...... 597 ........ 640 ......... 497 .......*........ 15.2

Nassau ....... 8028 ......... 8592 .......*...... 707 ........ 782 ........ 554 ........*........ 11.4

Suffolk ..... 11372 ....... 12138 .......*...... 768 ........ 802 ......... 661 ........*....... 14.8

..................... Units closed ............................... Median Price on closed properties

................ Dec 09 ......... Dec 08 ..... Nov 09 ....... Dec 09 ........ Dec 08 ........ Nov 09

Queens ....... 820 ........... 537 ........ 659 ........ $335,000 .... $390,000 .... $348,000

Nassau ........ 852 ........... 697 ........ 921 ........ $400,000 .... $410,000 .... $407,000

Suffolk ...... 1036 .......... 730 ......... 978 ........ $325,000 .... $350,000 .... $330,000

Source: Long Island Board of Realtors

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

Market condition in Corona NY 11368

Kin Tsui (Kin Real Estate) — Thu, 07 Jan 2010 00:41:52 -0600

Inventory built up again to over 2 years supply.

About 27% of the sales of single & two-family in 2009 was REO and 24% was Short-sale.

Median Selling Price in 2009 declinced over 20% from 2008.

Inventory as at 1/6/10:

136 units of 2 family - median asking price $650,000 (26 months supply)*

27 units of 1 family - median asking price $550,000 (27 months supply)*

45 units of condo - median asking price $329,000 (60 months supply)*

43 units of co-op - median asking price $149,000 (39 months supply)*

*Based on the closings in 2009

Units closed in 2009:

61 units of 2 family - median selling price $470,000 (volume decreased by 9% year over year)

12 units of 1 family - median selling price $302,700 (volume increased by 9% year over year)

9 units of condo - median selling price $235,000 (volume decreased by 30% year over year)

13 units of co-op - median selling price $145,000 (volume decreased by 50% year over year)

Units closed in 2008:

67 units of 2 family - median selling price $620,000

11 units of 1 family - median selling price $430,000

13 units of condo - median selling price $310,000

26 units of co-op - median selling price $150,500

Source: MLS of Long Island

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

Price moving upward but inventory increasing.

Kin Tsui (Kin Real Estate) — Wed, 09 Dec 2009 12:27:56 -0600

Although the inventory is less than last year and the units in contract is more than last year, but the supply (Inventory over Units going into contract in Nov) jumped on month to month. Prices is slightly higher than last year.

....................... Inventory ..............*........... Units in contract ...................*....... Months Supply(note 1)

................. Nov 09 ....... Nov 08 ......*..... Nov 09 ..... Oct 09 ..... Nov 08

Queens ...... 9352 ........ 11238 .......*...... 640 ......... 838 ......... 437 .......*........ 14.6 (11.5 in Oct)

Nassau ...... 8707 .......... 9711 ........*..... 782 ........ 1068 ......... 576 .......*........ 11.1 (8.5 in Oct)

Suffolk ..... 12067 ....... 13656 ........*..... 802 ........ 1155 ......... 658 ........*....... 15.0 (10.8 in Oct)

..................... Units closed ............................... Median Price on closed properties

................ Nov 09 ......... Nov 08 ..... Oct 09 ....... Nov 09 ........ Nov 08 ........ Oct 09

Queens ....... 659 ........... 489 ........ 707 ........ $348,000 .... $390,000 .... $345,000

Nassau ........ 921 ........... 596 ........ 929 ........ $407,000 .... $410,000 .... $400,000

Suffolk ........ 978 ........... 676 ........ 974 ........ $330,000 .... $335,000 .... $327,000

Note: (1) Based on contracts in Nov 09

Source: Long Island Board of Realtors

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

Sold - 2 bedrooms in Mitchell Gardens Co-op

Kin Tsui (Kin Real Estate) — Fri, 01 Jan 2010 17:44:09 -0600

The unit is located at 141-09 28 Ave, Apt 5D, Flushing, NY 11354 - 2 bedrooms 1 bath about 850 square feet. It was sold for $190,000 in December, 2009.

The building is a 6-stories building which was built in 1952. It is located on Ave between 141 St & Union St. The area is quiet, parking is easy, yet it is within walking distance to downtown Flushing.

The monthly maintenance fee is $670 which included electric, gas, water, heat & real tax.

Just Listed - 2 bedrooms in Southridge Co-op

Kin Tsui (Kin Real Estate) — Sat, 05 Dec 2009 14:12:31 -0600

Jackson Heights Southridge Co-op For Sale

$189,000.00

3305 90th St, Jackson Heights, NY 11372

39 Photos

2 Bed, 1.0 Bath
1000 SF
Tour # 1865569

"Cheery Southridge Co-op" Just look at this well-kept 2-bedrooms residence near subway & shops. An ideal lifestyle, with maintenance fee includes utilities, big bedrooms, hardwood flooring. Private park. Laundry room. Elevator	For more information, please contact:
	Kin Tsui Kin Real Estate 718-461-5515 718-461-8690 Fax

Information supplied by sellers. Deemed reliable, but not guaranteed.

Just Listed - 1 bedroom in Southridge Co-op

Kin Tsui (Kin Real Estate) — Tue, 01 Dec 2009 01:05:08 -0600

Southridge Co-op 1 bedroom For Sale

$129,000.00

3346 92 St, Jackson Heights, NY 11372

38 Photos

1 Bed, 1.0 Bath
730 SF
Tour # 2055511

--Start Home Ownership Here-- Enjoy a happy haven in this welcoming co-op in excellent condition near subway & shopping. Spacious bedroom, Eat-in kitchen. Maintenance includes utilities. Window in kit & bath. Private park.	For more information, please contact:
	Kin Tsui Kin Real Estate 718-461-5515 718-461-8690 Fax

Information supplied by sellers. Deemed reliable, but not guaranteed.

Just Listed - 2 bedrooms co-op in Jackson Heights, NY

Kin Tsui (Kin Real Estate) — Tue, 17 Nov 2009 04:29:32 -0600

Jackson Heights Southridge Co-op For Sale

$189,000.00

3305 90th St, Jackson Heights, NY 11372

39 Photos

2 Bed, 1.0 Bath
1000 SF
Tour # 1865569

"Cheery Southridge Co-op" Just look at this well-kept 2-bedrooms residence near subway & shops. An ideal lifestyle, with maintenance fee includes utilities, big bedrooms, hardwood flooring. Private park. Laundry room. Elevator	For more information, please contact:
	Kin Tsui Kin Real Estate 718-461-5515 718-461-8690 Fax

Information supplied by sellers. Deemed reliable, but not guaranteed.

Just Listed - 1 bedroom co-op in Elmhurst, NY

Kin Tsui (Kin Real Estate) — Tue, 17 Nov 2009 04:04:38 -0600

For Sale - 1 bedroom co-op in Elmhurst

$173,000.00

4167 Judge St, Elmhurst, NY 11373

35 Photos

1 Bed, 1.0 Bath
700 SF
Tour # 2045564

--Engagingly Inviting-- A unique treasure near subway & shopping. Bask in the charms of this airy, south-facing unit. Superlative touches in this very special unit include hardwood flooring, big bedroom & lot of closets.	For more information, please contact:
	Kin Tsui Kin Real Estate 718-461-5515 718-461-8690 Fax

Information supplied by sellers. Deemed reliable, but not guaranteed.

Sales volume and prices were stable

Kin Tsui (Kin Real Estate) — Tue, 17 Nov 2009 03:28:38 -0600

Units under contract in the three counties were about the same as September, but were a big improvement from last year. Price drop was slowed down. The first-time home buyer credit is working.

....................... Inventory ..............*........... Units in contract ...................*....... Months Supply(1)

................. Oct 09 ....... Oct 08 ......*..... Oct 09 ..... Sept 09 ..... Oct 08

Queens ...... 9624 ........ 11303 .......*...... 838 ......... 864 .......... 572 .......*........ 11.5

Nassau ...... 9109 ......... 9929 ........*..... 1068 ........ 1005 ......... 689 .......*........ 8.5

Suffolk ..... 12510 ....... 13989 ........*.... 1155 ........ 1112 ......... 828 ........*....... 10.8

..................... Units closed ............................ Median Price on closed properties

................ Oct 09 .... Sept 08 .... Oct 08 ........... Oct 09 ...... Sept 09 ..... Oct 08

Queens ........ 707 .......... 618 ........ 653......... $345,000 .... $341,500 .... $385,000

Nassau ........ 929 ........... 845 ........ 786......... $400,000 .... $405,000 .... $425,000

Suffolk ........ 974 ........... 883 ........ 844 ........ $327,000 .... $338,000 .... $345,000

Note: (1) Based on contracts in Oct 09

Source: Long Island Board of Realtors

Just Listed - 2 bedrooms in Mitchell Garden Co-op, Flushing

Kin Tsui (Kin Real Estate) — Sat, 07 Nov 2009 13:25:01 -0600

There is a 2 bedrooms in Mitchell Gardens Co-op for sale, which is located at 139-16 28 Rd, Flushing, NY11354, between 139 St & 141 St.

The building is a six stories building built in 1952.

The maintenance is $558 which includes electricity, gas, water, heat and real estate tax. The unit is about 850 square feet. The location is just off Whitestone Expressway and few blocks to Union St.

Asking price is $225,000. For Virtual Tour, click here or visit our web site www.KinRealEstate.com

Market condition in Elmhurst 11373

Kin Tsui (Kin Real Estate) — Wed, 28 Oct 2009 01:07:26 -0500

Single family was moving well. 2-family & co-op are over-supply. Condo need over 4 years to sell at current pace.

Inventory as at 10/27/09:

41 units of 2 family - median asking price $743,500 (16 months supply)*

20 units of 1 family - median asking price $579,000 (8 months supply)*

54 units of condo - median asking price $400,000 (54 months supply)*

78 units of co-op - median asking price $197,000 (21 months supply)*

*Based on the closings in the first 9 months in 2009

Units closed in the 9 months period from 1/1/09 to 9/30/09:

23 units of 2 family - median selling price $745,000 (volume decreased by 28% year over year)

22 units of 1 family - median selling price $527,500 (volume increased by 22% year over year)

9 units of condo - median selling price $330,000 (volume decreased by 59% year over year)

33 units of co-op - median selling price $180,000 (volume decreased by 28% year over year)

Units closed in the same period last year from 1/1/08 to 9/30/08:

32 units of 2 Family - median selling price $700,000

18 units of 1 Family - median selling price $556,250

22 units of condo - median selling price $359,000

46 units of co-op - median selling price $192,500

Source: MLS of Long Island

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

Market condition in Woodside 11377

Kin Tsui (Kin Real Estate) — Sun, 25 Oct 2009 23:07:59 -0500

The inventory level is very high, over 14 months supply, condo may even need almost 4 years to sell all on the market based on the first 9 months sale figure. Median asking price is over-priced.

Inventory as at 10/25/09:

36 units of 2 family - median asking price $717,500 (14 months supply)*

25 units of 1 family - median asking price $594,000 (15 months supply)*

36 units of condo - median asking price $394,500 (46 months supply)*

50 units of co-op - median asking price $234,450 (15 months supply)*

*Based on the closings in the first 9 months in 2009

Units closed in the 9 months period from 1/1/09 to 9/30/09:

23 units of 2 family - median selling price $587,500 (volume decreased by 4% year over year)

15 units of 1 family - median selling price $485,000 (volume decreased by 28% year over year)

7 units of condo - median selling price $311,000 (volume decreased by 30% year over year)

29 units of co-op - median selling price $205,000 (volume decreased by 9% year over year)

Units closed in the same period last year from 1/1/08 to 9/30/08:

24 units of 2 Family - median selling price $682,500

21 units of 1 Family - median selling price $555,000

10 units of condo - median selling price $361,000

32 units of co-op - median selling price $203,750

Source: MLS of Long Island

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

Market condition in Jackson Heights 11372

Kin Tsui (Kin Real Estate) — Sun, 25 Oct 2009 22:38:17 -0500

As per data the current inventory level on the 4 catagories are all over 1-year's supply. 2-family is over 4-years' supply. Asking price is too far from median price for 2-family & 1-family.

Inventory as at 10/25/09:

34 units of 2 family - median asking price $799,000 (51 months supply)*

8 units of 1 family - median asking price $583,500 (14 months supply)*

22 units of condo - median asking price $344,000 (12 months supply)*

169 units of co-op - median asking price $229,000 (15 months supply)*

*Based on the closings in the first 9 months in 2009

Units closed in the 9 months period from 1/1/09 to 9/30/09:

6 units of 2 family - median selling price $495,000 (volume decreased by 62% year over year)

5 units of 1 family - median selling price $425,000 (volume decreased by 66% year over year)

16 units of condo - median selling price $293,750 (volume increased by 166% year over year)

100 units of co-op - median selling price $212,250 (volume decreased by 32% year over year)

Units closed in the same period last year from 1/1/08 to 9/30/08:

16 units of 2 Family - median selling price $750,000

15 units of 1 Family - median selling price $600,000

6 units of condo - median selling price $310,000

148 units of co-op - median selling price $215,000

Source: MLS of Long Island

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

Autumn

Kin Tsui (Kin Real Estate) — Sun, 25 Oct 2009 18:13:57 -0500

"There is a harmony in autumn, and a lustre in its sky, Which through the summer is not heard or seen,

As if it could not be, as if it had not been!" -- Percy Bysshe Shelley

"There comes a time when autumn asks, "What have you been doing all summer?"" -- Unknown

"October. This is one of the peculiarly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, Junce, December, August and February." -- Mark Twain.

"No matter it is October or March, Autumn or Spring, booming or recession; there is always a great opportunity." -- Kin Tsui