Queens Home Team sells another Studio Coop at Northridge Section 1 in East Elmhurst!

Northridge Section 1 Coop SaleGeorge Herrera, Abigail Herrera, and the Queens Home Team at Keller Williams Realty are pleased to announce the sale of their Studio Coop located at 32-22 92nd St #602, Northridge Section 1 Cooperative, East Elmhurst, NY 11369. This East Elmhurst coop consisted of 1 living room/bedroom, 1 Bathroom, and sold for $85,000. This Northridge Section 1 coop was on the market for 189 days before contracts were fully executed. The seller of this studio coop at Northridge Section 1 in East Elmhurst, Queens sold the apt for 100% of asking price, showcasing how George and Abigail Herrera are both skilled and experienced at helping East Elmhurst Home Owners SELL their Homes, Coops, and Condos for the most amount of money, in the least amount of time, with the least amount of hassle.

If you have considered selling your Queens home, coop, or condo – Now or even month’s down the road – Don’t wait to find out how to get the most for your home. Contact us today and we’ll send you our exclusive Guide to Selling a Home in Queens NY. If you’re curious what your Queens Home, Coop, or Condo is worth, visit QueensHomeValue.info and you will receive a free home value packet within 48 hours. If you would just like a list of all the recent sales in your neighborhood/development, email queenshometeam@kw.com and we’ll send you list within 48 hours. If you have plans of selling in the near future, you owe it to yourself to get competitive bids from several Realtors. Our team offers a Hassle Free Listing Program that includes Flexible Fees, No Upfront Costs, and you can Cancel Anytime. With that said, we would love to meet you and evaluate your home, coop, or condo free of charge.

If you or someone you know is looking to Buy a Home, Coop, or Condo in Queens, contact our Buyer Division at the Queens Home Team at Keller Williams Realty (347-489-4994). We would be happy to show you how we find the very best homes for our buyers. Our exclusive Queens home buyer consultation will help you understand the Queens home buying process so that you know what to expect and are positioned to make a well-informed decision for you & your family when you find the right place to call home. We will help you narrow down your search so that you only view the homes that fit your search criteria instead of spending your precious time viewing homes that don’t match what you’re looking for. If you’re looking to buy a Property in Queens County, you can call, text, or email our Lead Buyer Specialist at: (347) 489-4994 or chris@queenshometeam.com. We take a formal approach to real estate, but it is all in your best interest.

The Queens Home Team at Keller Williams Realty is a team of friendly, service driven professionals in Queens, NY. Our Agents & Staff members are experts at what they do, but more importantly, they’re driven by their desire to help people. The team approach is our unique value proposition to Queens’ home buyers & sellers, because while most Agents are one person doing many things, we have several people doing ONE thing, and being GREAT at it. This ensures expertise throughout all stages of the transaction and allows us to provide the superior level of service our clients deserve. We understand that real estate is a service industry, therefore we treat it as such. Rest assured that when you work with the Queens Home Team, you’ll be in good hands with people who care!

Our team consists of Listing Specialists, Buyer Specialists, Showing Specialists, Marketing Specialists, Listing Coordinators, Transaction Coordinators, and Administrative team members to streamline the Home Buying & Selling experience in Queens County. We primarily service the Queens borough of New York City in order to provide hyper-local expertise to our seller & buyer clients. We specialize in residential 1-4 family Homes, Condos, & Coops. Put simply, we LOVE Queens, we LOVE real estate, and we LOVE helping people!

Our Mission is to offer a hassle free, service driven approach to real estate in Queens. Our Vision is to become the preferred Realtor of choice in Queens, NY. Our Values are simple, treat clients like family. Our Belief is that by doing right by our clients, we will become their Realtor for life. And our perspective is that we are in the Service Industry, with a specialization in Real Estate.

We look forward to serving you!

Queens Home Team at Keller Williams Realty
75-35 31st Ave, Ste. 202
Queens, NY 11370

(347) 921-0895

queenshometeam@kw.com

BUY: www.exclusivequeenshomes.com | SELL: www.queenshomeselling.com
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This Month in Queens Real Estate: JUL 2015

This_Month_In_Queens_Real_Estate_JUL_2015June 2015 Queens Real Estate Market UpdateMarketing Profile Picture_2

The pace of home sales rose in June, but were still below the pace of sales last June. The combination of buyers looking to take advantage of low interest rates before they increase further coupled with less homes being on the market than the same time last year has led to a sluggish pace in home sales. Even with more houses coming on to the market, demand has continued to outpace supply on a local level this year, and home prices have continued to rise as a result. As a result, this summer is likely to be the strongest market for existing homes since the recovery began.

Month’s Supply: 7 Months

Last Month: 6.9 Months

Last year: 8.75 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 interest rates reached 4% in June for the first time since last September. Currently, Freddie Mac reports the following figures: 30-year fixed rate, 4.00%; 15-year fixed rate, 3.23%; 5/1-year adjustable rate, 3.00%.

To put things in perspective (National avg for 30 year fixed rate mortgage, Last 4 years): 

2015: 4%

2014: 4.1%

2013: 3.8%

2012: 3.6%

Queens Home Sales

Queens_Real_Estate_Market_Home_Coop_Condo_Sales_JUL_2015Homes sold at a seasonally adjusted annual rate of 664 homes in June based on the report released by the Long Island Board of Realtors. This was up 7.4% from May’s figures but down 8.4% from the same month of the previous year. June was a very strong month for existing home sales and recent reports on pending contracts indicate that July will likely be a strong month for sales as well. Specifically, Residential home sales are down 6.2%, Condo sales are down 6.5%, and Coop sales are down 11.9% compared to June of last year.

Queens Home Prices

Queens_Real_Estate_Market_Home_Coop_Condo_Prices_JUL_2015The pace of growth for home prices slowed slightly from May to June; however, inventory remains at such a level as to allow for price growth above the 4%–6% range typically considered healthy. In June, the median home price dropped to $391,250 according to LIBOR. This was an decrease of 3.8% from May but was up 7.2% from June 2014.  Specifically, Residential home prices are up 6.5%, Condo prices are up 3.2%, and Coop prices are up 13.1%.

To put things in perspective (Median Home Price, Last 4 Years): 

July 2015: $391K

July 2014: $373K

July 2013: $380K

July 2012: $345K

Queens Housing Inventory 

There were 1.2% less homes for sale in June than there were in May, and inventory across the county is still significantly below those of last year levels. At the moment we have 4,333 homes available for sale, that is 24.8% below the same month of the previous year. Demand continues to grow at a much faster rate than supply, this has led to the months of supply of inventory, which measures the relationship between supply and demand, to about 7 months in June. This number remains tight as low interest rates spur more buyers to enter the market and new home construction has not yet reached a pace which would provide significant relief to many of the county’s hotter markets.

To put things in perspective (Active Homes for sale, last 4 years): 

July 2015: 4,333 homes for sale

July 2014: 5,760 homes for sale

July 2013: 6,123 homes for sale

July 2012: 8,429 homes for sale

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

George and Abigail Herrera_Queens Home Team at Keller Williams Realty_HEADSHOT_ROUNDBUYwww.exclusivequeenshomes.com | SELLwww.queenshomeselling.com