Just Listed: 1 Bedroom Coop at 110-31 73rd Rd in Forest Hills, NY 11375

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.

Just Listed: 2 Bedroom Coop at 21-58 35th St in the Acropolis Gardens in Astoria, NY 11105

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.

Just Listed: 2 Bedroom Coop at 14-20 Bell Blvd in Bayside NY, 11360

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.

This Month in Queens Real Estate: APRIL 2015

TMIQRE QHT HeaderApril 2015 Queens Real Estate Market Update Marketing Profile Picture

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

*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_Rates30-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

Queens_Real_Estate_Market_Home_Coop_Condo_Sales_April_2015The 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 Home Prices

Queens_Real_Estate_Market_Home_Coop_Condo_Prices_April_2015The 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 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.   


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

BUYwww.exclusivequeenshomes.com | SELLwww.queenshomeselling.com

5 Queens Home Buyer Turnoffs

Putting your Home, Coop, or Condo on the Market? Consider these common Queens home buyer turn-offs and make sure you’re in good hands with potential buyers…
1. DIRTY OR CROWDED HOMES
It can’t be overstated how important it is to de-clutter and clean your home before selling it. Buyers want to look at your home, not your things.
2. IRRATIONAL SELLER EXPECTATIONS
Be realistic about where your home sits relative to the market. Overpricing can spell disaster when it comes to selling a home.
3. NEW UPGRADES DONE TO A SPECIFIC TASTE
Upgrading your kitchen can be a wise investment before listing your home. Just make sure you do it in a neutral style, as no one wants to rip out something that’s been recently renovated.
4. BAD LISTING PHOTOS
Make sure online listing photos show your home in the best light, and give a true sense of the space. And again, no clutter.
5. STALKERISH SELLERS
Being at your own open house or a private showing can make buyers feel uncomfortable. Trust your agent to communicate the best home features to potential buyers.
For more information on how to present your home, coop, or condo in it’s best light, feel free to reach out to us directly…
P: (347) 921-0895

10 Things to Consider when Buying a Multi Family Home in Queens

Buying a Home, Coop, or Condo in Queens is much different than buying a house in other parts of the country. One thing in particular that you will find a lot of in Queens, are multi-family properties, specifically 1, 2, and 3 family homes. Multi family homes can be a great financial  investment because of the rent rates, appreciation, cash flow, etc. With that said, below are some of our top items to look for when buying a multi family property in Queens…
 
1. Number of Boilers – When shopping for a 1-3 family home, you definitely want to know how many boilers the property have because that will determine your monthly heating expense. Ideally, you would want a property that has separate meters for each unit, that way renters will be responsible for paying their own heating bills. If you pursue a property with only one boiler, you will be stuck paying the entire heating bill for the building, or you will need to have it converted to separate them.
2. Age of Boiler(s) – Along with knowing how many boilers are in the property, you also want to know the age of them because if they’re very old, you will most likely need to replace them soon. Boilers can be very expensive so you either want a discount for old boilers, or ideally, purchase a property with fairly new ones.

3. Number of Electric Meters – Same as with boilers, you want to know how many electric meters are in the property because if there are separate meters, your tenant(s) will be responsible for paying their own electric bill. However, if there is only one electric meter, your monthly expenses will be increased because you’ll be stuck with the entire electric bill, or you’ll need to have it converted to separate them.

4. Age of Roof – Roof replacements can be one of the most expensive home improvements so you definitely want to know how old the roof is when your house hunting for a multi family in Queens. If there is an existing warranty on the roof, you also want to request that it be transferred to you in case anything happens. Ideally you want a fairly new roof, but if it is at the end of it’s life span, just make sure the discount is reflected into the price.
5. Rent Rates – Make sure that you know what current rent rates in the area. Your rental income will be the revenue for the property, so the more accurately you can project rent rates, the more accurate your investment calculations will be. A good buyer specialist will know rent rates for several different neighborhoods around Queens.
6. Parking Spaces/Garages – Parking spaces lead to the opportunity for more income because each space can be rented out as well. So, when buying a 1-3 family home in Queens, you want to make sure that you’re factoring in the potential income from parking spaces and garages.
7. Proximity to Train – When buying a hold property in Queens, it’s all about transportation. So, if you are within at least half a mile from a train station, you will significantly decrease your vacancy rates. Properties close to the train rent quicker because the demand is always there, on the flip side, if you purchase a property further out from the train, you will experience slightly longer vacancy rates.
8. Cash Flow – Cash flow is king. Make sure that your property cash flows from the beginning so that you don’t have to come out of pocket in the future. Your monthly rental income should pay for all your monthly expenses (including mortgage principal, interest, taxes, insurance, utilities, etc) and leave you with a surplus at the end of each month. If you don’t cash flow at least one dollar, then your maximum offer should change.
9. Cash-on-Cash ReturnIn investing, the cash-on-cash return is the ratio of annual before-tax cash flow to the total amount of cash invested, expressed as a percentage. It’s often used to evaluate the cash flow from income producing assets such as multi family homes in Queens. Again, a good buyer specialist can help you calculate your cash on cash return, and tell you what good cash on cash return percentages are in different areas of Queens.
 
10. Cap Rate – Cap rate is a rate that helps in evaluating a real estate investment. Cap rate = Net Operating Income / Current Market Value. Different neighborhoods in Queens have different cap rates that investors look for so a good buyer specialist will be able to tell you what cap rate to look for, and they can help you calculate it as well.
For help in purchasing a residential 1-3 family home in Queens, feel free to contact us and we can schedule a free Queens home buyer consultation. Our Queens Home Team buyer specialists understand the many different variables involved in buying multi family homes in Queens so they can guide you in making a sound real estate investment.
P: (347) 921-0895
E: queenshometeam@kw.com

Just Listed: 2 Family Home in Far Rockaway Queens at 15-21 New Haven Avenue!

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.