Kin's Blog

It is located at 35-64 89 St -1 bedroom 1 bath about621 square feet. Sold for $220,000 in Aug, 2009.Centre Court Condois a 6-stories building built in 1927. The building is located on 89 St between 35 Ave & 37 Ave, just 1 block from Roosevelt Ave. The monthlycommon charge is350 includeswater &heat. Real tax is $1895 a year.The building is managed byPride PropertyManagement in Englewood Cliffs, NJ.

It is located at 3-04 91 St -1 bedroom 1 bath about770 square feet. Sold for $130,000 in September, 2009.

There are six 6-stories buildings in the complex which was built in 1927. Theunit soldis located on91 St betweenNorthern Blvd & 34 Ave, just2 blocks from 37 Ave & 3 blocks from Roosevelt Ave for shopping and subway. The monthlymaintenance fee is $500 whichincludeselectric, gas, water,heat &real tax.The building is managed byWentworth Management

I am not using Yahoo to blog now, it takes more steps to post a photo.
My blog in now at KinRealEstateBlog.com

Since March this year real estate sales picked up, stock market rallied over 30%, Index of Consumer Sentiment rose for a fourth straight month, oil price soared.

I will be very happy if the market keep moving like the last few months, I will make more money than in 2007 when the market peaked. It is just too good to be true.

I remerber Warren Buffett's quotation -"BeFearfulWhen Others AreGreedy And Greedy When Others Are Fearful". I think it is time to short stock.

Iguess it is the last phrase of real estate market. When people cannot afford single family house, they buy condo; when they cannot afford condo, they buy co-op, REO/Real Estate Owned by banks. As I am specialized in selling co-op, maybe that is why my business picked up more.

in the last cycle I remembered the co-op price dropped about 50% from peak to bottom in Flushing; in this time it only dropped about 20%.

I hope my guess is wrong, but for people who buy for self-occupied, it is always a good time. Why pay rent while you can own?

Median Price was still declining from last year.

Median Price on closed properties:

................May 2009 ....May 2008

Queens ... $365,000 ... $407,500 (-10.43%)

Nassau ... $396,000 ... $438,500 (-9.69%)

Suffolk ... $334,500 ... $360,000 (-7.08%)

There was less inventory than last year, but it might only indicatemore sellers realized the realistic price and not motivated to sell, if not necessary.

....................... Inventory ...................... Units in contract ................ Months Supply

.................May 09 .....May 08 ........May 09 ....Apr 09 ......May 08

Queens .....10285 ..... 11602 ........... 772 ........738 .......... 761 ............. 13.3

Nassau ..... 10298 ..... 10808 ........... 888 ........859 .......... 931 ............. 11.6

Suffolk ..... 13189 ..... 15098 ........... 908 ........933 .......... 987 ............. 14.5

Source: Long Island Board of Realtors