Jackson Heights Life

Get Connected => Real Estate & Home Improvement => Topic started by: agentarmen on December 19, 2016, 03:41:04 PM

Title: Jackson Heights Real Estaet Listings 2016 Year End Review
Post by: agentarmen on December 19, 2016, 03:41:04 PM
Please enjoy our latest blog post - snapshot view of 2016:
http://www.jacksonheightslistings.com/2016-year-end-review-2017-projection/ (http://www.jacksonheightslistings.com/2016-year-end-review-2017-projection/)
Title: Re: Jackson Heights Real Estaet Listings 2016 Year End Review
Post by: rhydewithdis on December 19, 2016, 05:25:01 PM
thanks.
possible to differentiate btwn coop, condo and houses (sfh, duplex, triplex)
also you have 1bd, 1bth listed twice with diff prices
Title: Re: Jackson Heights Real Estaet Listings 2016 Year End Review
Post by: Ed on December 20, 2016, 08:19:26 AM
Quote from: rhydewithdis link=topic=15762.msg75165#msg75165 date=
also you have 1bd, 1bth listed twice with diff prices
Or has two different 1 bedroom apartments in two different buildings with two different interior finishes listed once.
Title: Re: Jackson Heights Real Estaet Listings 2016 Year End Review
Post by: hum@njukebox1 on December 20, 2016, 08:46:13 AM
I would bet the $600,000 price is for a 2 bedroom/1 bath........it's the only thing that makes sense.  Probably just an error.
Title: Re: Jackson Heights Real Estaet Listings 2016 Year End Review
Post by: agentarmen on December 23, 2016, 10:45:09 PM
Hi everyone and Happy Holidays!
Yes indeed third category from the top had a typo in it - it's the 2 bed 1 bath category. Freshly corrected!

2017 will be an interesting year to monitor as we are coming into an enviroment of rising interest rates. We could see a rush of buyers hoping to beat the rise and lock into a low interst rate, or see a slowing due to the same.

2016 benchmarks however are well planted. And if my gut is right, we should see an uptick in activity in the first quarter of 2017 for sure.

Title: Re: Jackson Heights Real Estaet Listings 2016 Year End Review
Post by: petegart on December 30, 2016, 06:18:42 PM
WOW.  We own a '3' bedroom 2 full bath co-op in the Greystones.  The 3rd bedroom is the 'maids' room and right off the kitchen but we use it as an office. 
If I read the attachment correctly the price should be around 900K?  I don't think the Greystones have gone at that high a price...yet.
Title: Re: Jackson Heights Real Estaet Listings 2016 Year End Review
Post by: JDinJH on December 31, 2016, 09:04:05 AM
$900k may seem like a lot until you look around and see that the housing prices have gone up all over the city.  If you sold a place for $900k in JH and tried to buy similar apartment in another comparable neighborhood, you would quickly see the validity of what I am saying. 
Title: Re: Jackson Heights Real Estaet Listings 2016 Year End Review
Post by: agentarmen on January 02, 2017, 11:11:45 AM
Quote
WOW.  We own a '3' bedroom 2 full bath co-op in the Greystones.  The 3rd bedroom is the 'maids' room and right off the kitchen but we use it as an office. 
If I read the attachment correctly the price should be around 900K?  I don't think the Greystones have gone at that high a price...yet.

Hi petegart, and Happy New Year everyone!

Good question, and the answer is truncated somewhere within it. Granted past year's numbers are averages, yet they provide a good matrix as to where the ESTIMATED value of your property today MAY fall. Ultimately price is decided by the market and a buyer's willingness to pay a price.

It is important to keep in mind that Colonial Court had not seen a 2 bed 1 bath sale at 620k, Monroe did not see a 2 bed 1 bath sale at 600k nor did the Berkeley at 2 bed 2 bath sale at 750k. Yet those were our closing numbers. We closed several 1 bedroom sales north of 400k last year as well. So it is not to say a new record sale in the Greystones is not in the near future.

Now in connection with your individual unit, it would be most important to clearly determine if your layout historically has traded as a 2 bedroom 2 bath with a 'maid's room, rather as a 3 bedroom, ( and I believe that is what the larger Greystone layouts are like ) which would comp it out BETWEEN the 2 bed 2 bath values and 3 bed 2 bath values. So depending on the quality of your finishes and provided it is a turn-key home, blind assessment would be between 775 and 825k.

And to simply answer your question, yes, values have definitely been rising year to year since 2011 at a very steady pace.

Happy 2017 everyone!
Title: Re: Jackson Heights Real Estaet Listings 2016 Year End Review
Post by: Marlene on January 09, 2017, 11:48:46 AM
Quote from: petegart on December 30, 2016, 06:18:42 PM
WOW.  We own a '3' bedroom 2 full bath co-op in the Greystones.  The 3rd bedroom is the 'maids' room and right off the kitchen but we use it as an office. 
If I read the attachment correctly the price should be around 900K?  I don't think the Greystones have gone at that high a price...yet.

Hello,

I recently sold a three bedroom at The Greystones for $740K.

Best,

Marlene Flores - 917-208-6709
Top Agent of the Year 2016 - Long Island City
Douglas Elliman Real Estate
marlene.flores@elliman.com