The Numbers are in and RED Day 2012 was a success!!! 60 Associates giving back, 215 bags of donations collected, and over 1,200 pounds of food for NYC’s hungry children donated to City Harvest… THANK YOU FOR YOUR SUPPORT!
On May 10, 2012 my Associates and I took the day to “Give where we live” as part of our 4th Annual RED Day, which is an annual event where Keller Williams Realty Associates from all over the country give back to the communities that they serve.
This year, we hosted our 2nd annual RED Day food drive in partnership with City Harvest’s “Feed the Kids” campaign. Last year we had roughly 40 Associates participate & they donated over 80 hours of community service which helped to raise a total of 111 bags of non-perishable food items, that equated to about 700 lbs of food!
Our goal for 2012 was to double the amount of food collected last year and we almost did it. We had about 60 Associates participate and donate over 120 hours of community service. Our collective efforts this year helped us raise 215 bags of non-perishable food items which equated to OVER 1,200 lbs of food for NYC’s hungry children!!!
I would especially like to thank the local residents of Forest Hills, Queens who helped me raise 21 bags of food. This was a very special day for me, and it’s good to know that when my Office bands together for a good cause, my local neighbors will step in to help us! THANK YOU
Until next year…
MAY 2012 MARKET UPDATE
The housing market and the overall economy are improving at modest rates nationally & locally, some areas have actually even gained momentum. The Conference Board’s CEO confidence index is up a notable 14 points—from 49 last quarter to a current reading of 63. A reading of 50 is the threshold above which indicates an optimistic outlook and below indicates pessimism. Rapidly growing optimism is a good sign for future hiring and growth.
The recovery is happening, though not at a breakout pace, but we have seen three consecutive months of year-over-year sales increases in Forest Hills. Existing-home sales are moving up and down in a fairly narrow range that is well above the level of activity during the first half of last year. With job growth, low interest rates, bargain home prices, and an improving economy, the pent-up demand is coming to market and we expect housing in Forest Hills NY to be notably better this year.
As rents continue to rise in Forest Hills, buying becomes a more and more attractive option as home affordability, or the percent of income it takes to pay the mortgage, continues to be among the most favorable in history. The current record interest rates, which factor into affordability, cannot last forever—buyers wanting to take advantage of this unique time in history will want to act before rates rise.
Home sales slipped .02% from the previous month to 489 units, and are 10.6% lower from a year ago. A strengthening economy is improving consumer confidence and drawing an increasing number of people into the market, however, in the local Forest Hills real estate market, there is not enough inventory of quality homes for buyers to purchase. As the Forest Hills market sees more new listings for their hungry buyers, local home sales could increase.
The median home price decreased by 2% compared to the previous month and by .5% compared to a year earlier to $258,750. February & March were the first time in 9 months that home prices went up, year-over-year. In most areas over the long term, home prices have nowhere to go but up, this seems to be the case in Forest Hills NY.
Inventory – Month’s Supply
Housing inventory increased from the previous month at 17.5 months supply and was 24% above year-ago levels. This is an indicator that the Forest Hills real estate market is still a buyer’s market. It is important to note that inventory near a six-month supply is the threshold of a balanced market. Movement out of the deep buyer’s market that has persisted over the past three years is an important step that must precede a full-scale housing market recovery.
Source: Multiple Listing Service of Long Island.
Mortgage rates continue to boost home affordability by remaining below 4%—some of the lowest rates on record since 1971. These rates may have begun to find a bottom as there is not much more room to go down, adding to the urgency to buy a home now while these record lows hold.
Topics For Home Owners, Buyers & Sellers
Pricing a listing at market value is a critical component to getting it sold. Here are a few of the advantages of pricing it right:
Connect with me online:
your local real estate expert, Abigail Herrera
Contact me for information about what’s going on in our neighborhood.
Brought to you by Abigail Herrera with Keller Williams Realty Landmark.
WAS: $380K – NOW: $365K!
To schedule a showing, simply fill out the form below:
Privacy and great views are featured in this lovely Home in Forest Hills. This wonderful 4th floor unit overlooks a beautiful private courtyard. Offered for sale by Abigail Herrera with Keller Williams Realty Landmark, the home is located in the sought-after town of Forest Hills’ community Coop development of The Balfour.
Located in a very desirable neighborhood of Forest Hills due to it’s prime location, the home offers a large open layout, hardwood floors throughout, and high ceilings! The home has been upgraded to a high standard throughout. The kitchen has wood cabinets with great storage space, granite countertops, a tiled back splash, and stainless steel appliances.
Built in 1958, this one of a kind Coop development is located at 112-20 72nd Dr. In Forest Hills, Queens. The Balfour community includes a huge private courtyard, 24 hour doorman & security, laundry facilities, storage, and bicycle storage.
The home is being offered at $380,000. For more information, contact Abigail Herrera of Keller Williams Realty Landmark at (718) 475-2742 or 718-968-5538. Details are available athttp://www.exclusivequeenshomes.com/listing/mlsid/137/pro…. Abigail Herrera is experienced in working with Condos, Coops, Luxury Properties, short sales, foreclosures, first-time homebuyers, and the various developments/neighborhoods of Forest Hills, Queens.
Abigail Herrera can be reached at the Keller Williams Realty Landmark office, 32-55 Francis Lewis Blvd, Bayside, NY 11358. Website: www.QueensHomeSelling.com.