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First time buyer looking for advice.
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I'm a young professional and was looking at 1br's co-ops in the $200-$230k range. Saw a number of them, but find there are some pretty big divergences in price, maint. fees, etc. It wasn't an issue of location, several of these buildings are close by or even in the same building. Is there a resource available to research buildings other than google?A final question, to what degree do you find that people are typically willing to lower their price. How low would you undercut a listing?Thanks for any help that can be provided.

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The Property Shark website is a wealth of information. By the way, I just put my one bedroom in FH on the market. I am asking slightly more than your range, but my building has a 24/7 doorman and includes central air conditioning. Layout and renovation could add to the asking price as well.

As to how much to initially offer, it's hard to tell as everyone is different. But I would say in this market, everything is negotiable.

Jane

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Thanks for your response. I'll take a look at property shark. My range is pretty fixed; I'm a first time home-owner.

Found a place I liked asking 200. Not sure if I should begin the offering with 185 or 195. I've never been a good bargainer; I get quickly bored and walk away. Will a seller be scared away with a low bid?

Thanks.

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I do not think 185 is too low to offer on 200 at all. My guess is they come back with 195 and you settle on 190 but hey what do I know You might ask the realtor (i fyou are using one) how negotiable the price is. Also check property shark and see what things in the building have sold for. I think you are quite good with 185. Let us know. Good luck The other thing too is they may so, no we are firm on 200. Then you decide. Your offer is not insulting at all.

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Prices are going to go down. The sellers you're offering to are lucky to have anyone looking at all. There has been a freeze on the part of buyers with all the bad economic news. People are afraid to buy. And with very good reason.

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I don't believe that is so for Forest Hills co-op's, especially luxury buildings with parking and a 24/7 doorman.

I bought a jr one in Dec 06 and the price increased over 40k already.

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Reply to : New Buyer [Anonymous]


I'm a young professional and was looking at 1br's co-ops in the $200-$230k range. Saw a number of them, but find there are some pretty big divergences in price, maint. fees, etc. It wasn't an issue of location, several of these buildings are close by or even in the same building. Is there a resource available to research buildings other than google?A final question, to what degree do you find that people are typically willing to lower their price. How low would you undercut a listing?Thanks for any help that can be provided.



The way the market is now, I would get all my pre- qual, lawyer info and deposit in hand and put a solid offer of 165K. The worse thing that could happen is they would counter. Let their counter sit for a couple of days (while stressing to the agent you really like the apt, but have a budget) and go up 5-8K on your counter. Lets see how badly they need to sell, and how much you want to get a deal. Wait a week and see low they will come down on there pricing.

If you want I could negotiate the deal for you From start to finish for a 5K fee

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Why make an offer now? The market seems to be going nowhere but down.

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dont worry about low offers. Your bound to find someone whos looking for a quick sell and that's your oppurtunity for a great deal. Especially on co-ops

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I would work with a real estate agent who knows the area. You could find reviews of realtors online. If you know anyone who has recently moved to the area, you could ask them who there real estate agent was.

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Post The Balfour 
Hi All,

We are looking to buy 2-bedroom/Jr4 at Balfour. We have a small dog, a car, and are expecting a baby in fall. The community looks decent and well maintained . However, the maintenance does seem high comparing to other coops in the neighborhood. Wondering has the maintenance fee been relatively stable in recent years? Has the maintenance been raised in the past 3 years? In addition, we were told that there is an extra assessment till 2016.. can someone please confirm whether this is true?

In addition, what is the parking situation there? How long is the waiting? I would really appreciate it if any of you can give me some feedback regarding this coop . Thanks!

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