Queens Real Estate Market Blog by queenshometeam
...Courtesy of George and Abigail Herrera w/the Queens Home Team at Keller Williams Realty Landmark II..
Jun 26, 2015 | 22023 views | 0 0 comments | 51 51 recommendations | email to a friend | print | permalink

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JUST LISTED: 1 Family Brick Home in Rego Park (89-18 63rd Ave) NY 11374
by queenshometeam
Jun 23, 2015 | 1754 views | 0 0 comments | 50 50 recommendations | email to a friend | print | permalink

George & Abigail Herrera Introduce another 1 Family Brick Home for Sale in Rego Park NY!!!

Privacy, great views, and convenience are featured in this lovely Rego Park 1 Family Brick Home for Sale. Offered for sale by George Herrera, Abigail Herrera, and the Queens Home Team at Keller Williams Realty. This 1 Family is located in the sought-after community of Rego Park.

Located in prestigious Rego Park and close to all of the best that New York City has to offer, the 1 Family Home in Rego Park is one of the city's premier neighborhoods. This Beautiful 1 Family Brick Home with many new updates and upgrades throughout. Upon entering, a bright large living room with hardwood floors and a cozy fire place greets you. Comfortable newly renovated eat in kitchen with Italian porcelain Marcacarona floors and beautiful back splash over sink and stove counter top. Kitchen features new Frigidaire brand stainless steel oven, dishwasher, and fridge, and a built in microwave. 3 good size bedrooms located on second floor. Master bedroom has two closets. Recently updated bathroom with Italian porcelain Macacarona floors and glass door shower. Full basement has large closets with plenty of storage space and a separate laundry room with washer and dryer included in home purchase. Many new features include boiler (2011), hot water heater (2005), and roof (2010). Doors located in the kitchen and basement lead you to a private backyard with entry to a 1 car garage. This home also features a party driveway that connects to the garage. The home is in a great location less than .4 miles from the E, M, and R trains in Community School District 28. This beautiful home could be yours with nothing to do but turn the key and unpack your bags

This Rego Park, NY 1 Family Brick Home is located at 89-18 63rd Avenue. The 3 Bedroom 1 BTH Home for sale is being offered at $750k. For more information, contact George Herrera, Abigail Herrera, or the Queens Home Team at Keller Williams Realty Landmark II at: (718) 968-5538. Full details are available at: www.exclusivequeenshomes.com

George & Abigail Herrera are local Rego Park, NY Realtors experienced in working with Residential 1-3 Family Homes, Coops, and Condos, in Rego Park, NY. George, Abigail, and the Queens Home Team can be reached at the Keller Williams Realty Landmark II office which is located at 75-35 31st Ave, Ste 202, East Elmhurst, NY 11370.

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This Month in Queens Real Estate: JUNE 2015
by queenshometeam
Jun 18, 2015 | 2769 views | 0 0 comments | 75 75 recommendations | email to a friend | print | permalink
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JUNE 2015 QUEENS REAL ESTATE MARKET UPDATE

The pace of existing home sales increased slightly from April to May according to the latest report released by the Long island Board of Realtors. This is likely related to slow growth in inventory that has failed to keep pace with this year’s pickup in demand. This has also led to an acceleration in price growth over the last 12 months. As interest rates remain low, it’s likely that demand will remain strong as we move into the summer and peak season for the Queens real estate market. Overall, we’re still experiencing the tight inventory levels, but now that June has hit, we are finally seen more homes hit the market. Sales in May were below that last year levels, but prices continued to increase as they have all year. 

  • Month’s Supply: 6.9 Months
  • Last Month: 6.7 Months

  • Last year: 8.7 Months

*Month’s supply over 6 months is said to favor buyers, month’s supply below 6 months is said to favor sellers, and month’s supply of 5-6 months is said to be a balanced market.

INTEREST RATES

Queens_NY_Interest_Rates

30-year interest rates remain below 4% but have begun to move up slightly. Currently, Freddie Mac reports the following figures: 30-year fixed rate, 3.84%; 15-year fixed rate, 3.05%; 5/1-year adjustable rate, 2.88%.



QUEENS HOME SALES

Queens_Real_Estate_Market_Home_Coop_Condo_Sales_JUN_2015

Queens Homes sold at a seasonally adjusted annual rate of 602 homes in May based on the report released by LIBOR. This was 5.6% higher than April’s sales pace but still 8.4% below May of last year. The pace of home sales has been hampered by tight inventory levels across the county. If more Queens home owners decide to sell this summer and inventory eases, we could see sales begin to increase again. Specifically, Residential home sales are down 5.5%, Condo sales are down 13.8%, and Coop sales are down 10.9% from May of last year.



QUEENS HOME PRICES



Queens_Real_Estate_Market_Home_Coop_Condo_Prices_JUN_2015

Strong demand for Queens homes combined with tight inventory levels led to significant price gains in May, as the median sales price reached $404,375. This is up 1.2% from April and 9.3% above the same month last year. As long as inventory remains in the low 6-7 months range, we are likely to continue seeing price gains in the 7%–9% range. Specifically, Residential Queens home prices are up 5.1%, Condo prices are up 20%, and Coop prices are up 9.4% from May of last year.



QUEENS HOUSING INVENTORY

There were roughly 24.6% fewer homes available for sale in May compared to the same month last year. This translated to 6.9 months of supply. Inventory grew slightly compared to the previous month as we move into the peak season. There has recently been some positive signs for new home construction and potential sellers; however, construction continues to lag behind expectations for the year amid concerns about the overall economy in the first quarter.



George and Abigail Herrera_Queens Home Team at Keller Williams Realty_HEADSHOT_ROUND

Courtesy of George & Abigail Herrera w/the Queens Home Team at Keller Williams Realty Landmark II. 

BUYwww.exclusivequeenshomes.com | SELLwww.queenshomeselling.com 

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This Month in Queens Real Estate: MAY 2015
by queenshometeam
May 31, 2015 | 6081 views | 0 0 comments | 219 219 recommendations | email to a friend | print | permalink
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May 2015 Queens Real Estate Market Update 

Right now the Queens’ real estate market is feeling pretty tight to say the least. If you or someone you know has been searching for a home, they can tell you all about it. Inventory is much lower than 2014 levels so we’re experiencing a lot of multiple offers, bidding wars, etc. For Queens’ home owners, this is a great opportunity to maximize the return on your home investment because the low inventory levels and low interest rates can’t last forever. However, for Queens’ home buyers, this is a tough market to jump in to. You need to be pre-approved, have all your documents in order, move fast when something hits the market, and be ready to pull the trigger once you find a place that meets your needs. While the economy as a whole appears to have gotten a slow start, consumer confidence does not appear to have significantly wavered and the employment situation has continued to show improvement in Queens. The current interest rate environment will likely persist for some time as the first quarter’s weak economic growth will likely force the Federal Reserve to delay putting upward pressure on rates. 

  • Month’s Supply: 6.7 Months
  • Last Month: 6.1 Months
  • Last year: 8.4 Months
*Month’s supply over 6 months is said to favor buyers, month’s supply below 6 months is said to favor sellers, and month’s supply of 5-6 months is said to be a balanced market. 
 

Interest Rates

Queens_NY_Interest_Rates

30-year interest rates remain below 4% and continue to slowly decline as the strengthening dollar and low inflation put downward pressure on rates. Currently, Freddie Mac reports the following figures: 30-year fixed rate, 3.66%; 15-year fixed rate, 2.92%; 5/1-year adjustable rate, 2.84%.



Queens Home Sales

Queens_Real_Estate_Market_Home_Coop_Condo_Sales_MAY_2015

The seasonally adjusted annualized rate of Queens home sales decreased 16.7% in April to a pace of 550 homes according to data published by the Long Island Board of Realtors. This was 2.1% lower than the same time last year. With interest rates at incredibly low levels and continuing to decline, the housing market has seen good numbers at the beginning of the year and is likely headed toward a strong summer season as long as more inventory hits the market. Residential home sales are up 2%, Condo home sales are down 9.4%, and Coop home sales are down 6.3% from the same time last year. 



Queens Home Prices

Queens_Real_Estate_Market_Home_Coop_Condo_Prices_MAY_2015

The median home price reported by the Long Island Board of Realtors remained the same in April at $400,000. Prices are 12.5% higher than the same month of the previous year. The magnitude of price increases continues to expand despite modest growth in the number of listings on the market but mainly due to the demand that is still outpacing inventory. Residential home prices are up 8.2%, Condo home prices are up 20.5%, and Coop home prices are up 9.8% from the same time last year.



Queens Housing Inventory

The number of homes available decreased 25.6% compared to the same month of the previous year, with 4,264 Queens homes available for sale in April. This translated to 6.7 months of supply. Historically, inventory typically remains low during February & March due to the cool weather and then loosens as the weather warms in April. We should start to see this number improve as we move into the summer. 



Blog Courtesy of George & Abigail Herrera w/the Queens Home Team at Keller Williams Realty Landmark II. 

BUYwww.exclusivequeenshomes.com | SELLwww.queenshomeselling.com 



Questions? We Can Help!



Contact Us

 

Queens Home Team

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JUST LISTED: 1BR Coop at the Greenbriar (85-15 Main St Briarwood, NY 11435)
by queenshometeam
May 15, 2015 | 8064 views | 0 0 comments | 308 308 recommendations | email to a friend | print | permalink
George & Abigail Herrera Introduce another One Bedroom Coop for Sale in Briarwood NY!!!


Privacy, great views, and convenience are featured in this lovely Briarwood Coop for Sale. Offered for sale by George Herrera, Abigail Herrera, and the Queens Home Team at Keller Williams Realty. This Coop is located in the sought-after community of Briarwood

Located in prestigious Briarwood and close to all of the best that New York City has to offer, the Coop in Briarwood is one of the city's premier neighborhoods. This particular Coop  offers: Spacious one bedroom Coop apartment, built in closet with tons of space for clothing, shoes, etc. Large living room area. Long kitchen that leads into a section that is ideal for a dining area. Kitchen full of top to bottom wood cabinets. Tile Backsplash throughout the sink, counter top and stove area. Dishwasher. Laundry Room in the building. 24hr Doorman. Seasonal Outdoor In-ground Pool. .1miles from E & F Train lines. Nearby to the Grand Central Expwy.  With Nearby Parks, Groceries and Entertainment Briarwood is an ideal place to move. This lovely one bedroom can be your next home or Subleased as an investment.

This Briarwood NY Coop is located at 85-15 Main Street in Briarwood, NY. The 1 Bedroom 1 BTH Coop for sale is being offered at $185,000. For more information, contact George Herrera, Abigail Herrera, or the Queens Home Team at Keller Williams Realty Landmark II at: (718) 968-5538. Full details are available at: www.exclusivequeenshomes.com

George & Abigail Herrera are local Briarwood NY Realtors experienced in working with Residential 1-3 Family Homes, Coops, and Condos, in Briarwood NY. George, Abigail, and the Queens Home Team can be reached at the Keller Williams Realty Landmark II office which is located at 75-35 31st Ave, Ste 202, East Elmhurst, NY 11370.
  
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Just Listed' 1 Bedroom Coop at 218-10 43rd Avenue in Bayside, NY 11361
by queenshometeam
Apr 28, 2015 | 10199 views | 0 0 comments | 424 424 recommendations | email to a friend | print | permalink
George & Abigail Herrera Introduce another 1br Coop for Sale in Bayside NY!!!

Privacy, great views, and convenience are featured in this lovely Bayside Coop for Sale. Offered for sale by George Herrera, Abigail Herrera, and the Queens Home Team at Keller Williams Realty. This Property is located in the sought-after community of Bayside.

Located in the prestigious Bayside Area and close to all of the best that Queens, New York has to offer. This particular Coop offers:
Spacious 1 Bedroom On the Top Floor Of a 3 Story Building In a Quiet, Residential Neighborhood. Desirable Floor Plan with Southern Exposure. Large Living Room with Separate Dining Area. Ample Closet Space. Personal Storage Space Included, And Easy Street Parking with Option For Garage. One Block To NYC Express Bus. 0.4 Mile (7Min) To LIRR, Bell Blvd Shops/Restaurants, And Queens Library.
 
This Bayside NY Coop is located at 218-10 43rd Avenue Bayside, NY. The 1 Bedroom Coop for sale is being offered at $175,000. For more information, contact George Herrera, Abigail Herrera, or the Queens Home Team at Keller Williams Realty Landmark II at: (646) 751-7549. Full details are available at: http://www.exclusivequeenshomes.com/featuredlistings

George & Abigail Herrera are local Bayside NY Realtors experienced in working with Residential 1-3 Family Homes, Coops, and Condos, in Bayside NY. George, Abigail, and the Queens Home Team can be reached at the Keller Williams Realty Landmark II office which is located at 75-35 31st Ave, Ste 202, Queens, NY 11370.
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This Month in Queens Real Estate: APRIL 2015
by queenshometeam
Apr 20, 2015 | 11195 views | 2 2 comments | 470 470 recommendations | email to a friend | print | permalink
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April 2015 Queens Real Estate Market Update

Homes sales increased in March while inventory levels remained tight. Inventory typically reaches its low point during the winter months, but the current level is well below that of last year. This led to higher than expected home price increases. While home price gains are good for homeowners, it will be important for inventory to loosen in the coming months to avoid constraining home sales and driving down affordability ahead of the potential for rising interest rates.

Month’s Supply: 6.1 Months

Last Month: 5.7 Months

Last year: 7.5 Months

 

Interest Rates

30-year rates remain below 4% but have begun to trend back upward after dropping in the second half of last year amid concerns around the global economy. Currently, Freddie Mac reports the following figures: 30-year fixed rate, 3.78%; 15-year fixed rate, 3.06%; 5/1-year adjustable rate, 2.97%.

 

Queens Home Sales

The seasonally adjusted annualized rate of Queens home sales increased 9.8% from February to March to a pace of 641 homes. Queens home sales decreased year-on-year in March and were 2.3% lower than the same month of the previous year. Specifically, Queens Residential single and multi family home sales are down .6%, Queens Condo sales are up 18.8%, and Queens Coop sales are down 10.4% from the same month last year.

Queens_Real_Estate_Market_Home_Coop_Condo_Prices_April_2015



Queens Home Prices

The median Queens home price reported by the Long Island Board of Realtors increased 1.3% in March to $405,000. Prices remain 9.5% higher than the same month of the previous year. The recent uptick in year-over-year price growth is probably due to low inventory levels across the county in recent months. Specifically, Queens Residential single and multi family home prices are up 6.3%, Queens Condo prices are up 16.7%, and Queens Coop prices are up 3.4% from the same month last year.

Queens_Real_Estate_Market_Home_Coop_Condo_Prices_April_2015



Queens Housing Inventory

The number of homes available decreased 26.2% compared to the same month of the previous year, with 4,084 Queens homes available for sale in March. This translated to 6.1 months of supply. Historically, inventory typically remains low during March due to the cool weather and then loosens as the weather warms in April. Specifically, there are currently 2,574 Residential single and multi family homes, 1,300 Coops, and 405 Condos available for sale in Queens County.



Courtesy of George & Abigail Herrera w/the Queens Home Team at Keller Williams Realty Landmark II. 

www.queenshomeselling.com

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April 28, 2015
If you knew that mortgage rates would go from 3.5% to 5% ahead of time, would you act faster to buy a home?

If you knew how many buyers there were flocking to Middle Village North to be in P.S. 128 school district, and to be by the M train and Juniper Park, would you continue to look at homes whenever you feel like?

Opportunity now for someone who is handy!

Triple AAA location 2 Family.

Two one families sold on 78 street, one for $700,000 and one for $725,000. So getting a TWO FAMILY WITH $1200 RENTAL INCOME for around $765k is a great deal.

Check out the Best deal on the Market today.

61-30 69 place, off Eliot Avenue, Middle Village North!

2 Family 6 over 3. Take a ride by it. See it before next Open House!

3.5% mortgage rate is not going to last forever.

Get a write off instead of paying $1700, $1800, $1900, $2000, $2100 or $2200 in rents.

Just Listed: 1 Bedroom Coop at The New Hampshire House in Forest Hills, NY 11375
by queenshometeam
Apr 17, 2015 | 10969 views | 0 0 comments | 450 450 recommendations | email to a friend | print | permalink
George & Abigail Herrera Introduce another 1br Coop for Sale at The New Hampshire House in Forest Hills, NY!!!


Privacy, great views, and convenience are featured in this lovely Forest Hills Coop for Sale. Offered for sale by George Herrera, Abigail Herrera, and the Queens Home Team at Keller Williams Realty. This Property is located in the sought-after community of Forest Hills.

Located in prestigious Forest Hills and close to all of the best that Queens, New York has to offer, New Hampshire House in Forest Hills is one of the city's premier neighborhoods. This particular Coop offers:
Large 1 Bedroom In the New Hampshire House Development in Forest Hills.
Eat in Kitchen. Hard wood Floors. Upgraded Bathroom.
Community School District 28.
With a walk score of 97 most of your errands does not require a car.
Nearby Transportation with the E & F lines less than .2miles away. Near the Grand Central Pkwy. Tons of Restaurants, Groceries, Shopping centers and Parks nearby. This Home could be the right fit for you. The Seller Says:
" My favorite features of that apartment were the windows. They are big and beautiful. They helped fill the apartment with natural light all the time, and allowed a great breeze in the summer. I also loved the steam heat, it was TOASTY in the winter. Those closets were plentiful and deep as well."

This Forest Hills NY Coop is located at 110-31 73rd Rd Forest Hills, NY. The 1 Bedroom Coop for sale is being offered at $215,000. For more information, contact George Herrera, Abigail Herrera, or the Queens Home Team at Keller Williams Realty Landmark II at: (347) 921-0895. Full details are available at: http://www.exclusivequeenshomes.com/featuredlistings

George & Abigail Herrera are local Forest Hills NY Realtors experienced in working with Residential 1-3 Family Homes, Coops, and Condos, in Forest Hills NY. George, Abigail, and the Queens Home Team can be reached at the Keller Williams Realty Landmark II office which is located at 75-35 31st Ave, Ste 202, Queens, NY 11370.
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Just Listed: 2 Bedroom Coop at the Acropolis Gardens in Astoria, NY 11105
by queenshometeam
Apr 17, 2015 | 11135 views | 0 0 comments | 399 399 recommendations | email to a friend | print | permalink
George & Abigail Herrera Introduce another 2br Coop for Sale at Acropolis Gardens in Astoria, NY!!!


Privacy, great views, and convenience are featured in this lovely Astoria Coop for Sale. Offered for sale by George Herrera, Abigail Herrera, and the Queens Home Team at Keller Williams Realty. This Property is located in the sought-after community of Astoria.

Located in prestigious Astoria and close to all of the best that Queens, New York has to offer,  Acropolis in Bayside is one of the city's premier neighborhoods. This particular Coop offers:
2 Bedroom Coop at the Acropolis Gardens Development in the neighborhood of Astoria.
Open Layout between the Living Room and Kitchen. Excellent Lighting throughout this 2 bedroom apartment.  Ample Closet space, Hardwood floors and High Ceilings. Community School District 30. With a walk score of 80, this Coop is nearby Retail Shops, Restaurants, Transportation (N & Q Train 3 Blocks away). Nearby the Astoria Park. This could be the home fit for you.

This Astoria NY Coop is located at 21-58 35th Street Astoria, NY. The 2 Bedroom Coop for sale is being offered at $309,000. For more information, contact George Herrera, Abigail Herrera, or the Queens Home Team at Keller Williams Realty Landmark II at: (347) 921-0895. Full details are available at: http://www.exclusivequeenshomes.com/featuredlistings

George & Abigail Herrera are local Astoria NY Realtors experienced in working with Residential 1-3 Family Homes, Coops, and Condos, in Astoria NY. George, Abigail, and the Queens Home Team can be reached at the Keller Williams Realty Landmark II office which is located at 75-35 31st Ave, Ste 202, Queens, NY 11370.
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Just Listed: 2 Bedroom Coop at Bay Terrace Garden in Bayside, NY 11360
by queenshometeam
Apr 17, 2015 | 9340 views | 0 0 comments | 347 347 recommendations | email to a friend | print | permalink
George & Abigail Herrera Introduce another 2br Coop for Sale at Bay Terrace Garden in Bayside NY!!!

Privacy, great views, and convenience are featured in this lovely Bayside Coop for Sale. Offered for sale by George Herrera, Abigail Herrera, and the Queens Home Team at Keller Williams Realty. This Property is located in the sought-after community of Bayside.

Located in prestigious Bays Terrace Garden and close to all of the best that Queens, New York has to offer, Bay Terrace Garden in Bayside is one of the city's premier neighborhoods. This particular Coop offers:
Cozy 2 Bedroom Coop located in the Clearview neighborhood of Bayside, NY.  Efficiency kitchen. Living Room big enough to make a dinning room. Laundry in the Development. Courtyard located on premises. Cats are allowed.  Community School District 25. With a walk score of 71 out of 100. Nearby parks include Bay Terrace Playground, Fort Totten Park and Clearview Park. Transportation less than .5miles away. This could easily be the perfect home for you.  The Seller Says:
"Our family lived in the unit for 3 generations. We were original shareholders in the development. We loved the unit and only sold because our family outgrew the unit. The school district is excellent. The neighborhood is excellent. And the grounds outside the unit are a delight."

This Bayside NY Coop is located at 14-20 Bell Blvd Bayside, NY. The 2 Bedroom Coop for sale is being offered at $240,000. For more information, contact George Herrera, Abigail Herrera, or the Queens Home Team at Keller Williams Realty Landmark II at: (347) 921-0895. Full details are available at: http://www.exclusivequeenshomes.com/featuredlistings

George & Abigail Herrera are local Bayside NY Realtors experienced in working with Residential 1-3 Family Homes, Coops, and Condos, in Bayside NY. George, Abigail, and the Queens Home Team can be reached at the Keller Williams Realty Landmark II office which is located at 75-35 31st Ave, Ste 202, Queens, NY 11370.
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Just Listed: 2 Family Home in Far Rockaway Queens at 15-21 New Haven Avenue!
by queenshometeam
Apr 02, 2015 | 6853 views | 0 0 comments | 213 213 recommendations | email to a friend | print | permalink

George & Abigail Herrera Introduce another 2 Family Home for Sale in Far Rockaway, NY!!!

Privacy, great views, and convenience are featured in this lovely Far Rockaway 2 Family Home for Sale. Offered for sale by George Herrera, Abigail Herrera, and the Queens Home Team at Keller Williams Realty. This 2 Family Home is located in the sought-after community of Far Rockaway.

Located in prestigious Far Rockaway and close to all of the best that New York City has to offer, this 2 Family Home in Far Rockaway is one of the city’s premier neighborhoods. This particular 2 Family Home offers:

Full Basement w/Laundry Room, Half Bath and Storage.
1st Floor has 3 Bedrooms, Full Bath, Living Room, Dinning Room & Eat in Kitchen.
2nd Floor has 2 bedrooms, Full bath, Living Room w/Eat in Kitchen.
Private Driveway.
Community School District 27.
With a Walk score of 85.
.5 Miles from the A train.
Nearby parks include Lanett Playground, O’Donohue Park and Beach 17th Street Playground.
Sold as is, Sight Unseen. Tenant Occupied. DO NOT DISTURB TENANT

This 2 Family Home is located at 15-21 New Haven Avenue, Far Rockaway ,NY. The 5 Bedroom, 2BTH, 2 Family Home for sale is being offered at $300,000. For more information, contact George Herrera, Abigail Herrera, or the Queens Home Team at Keller Williams Realty Landmark II at: (347)846-1178.

George & Abigail Herrera are local  Far Rockaway, NY Realtors experienced in working with Residential 1-3 Family Homes, Coops, and Condos, in Far Rockaway, NY. George, Abigail, and the Queens Home Team can be reached at the Keller Williams Realty Landmark II office which is located at 75-35 31st Ave, Ste 202, East Elmhurst, NY 11370.

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