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forest hills real estates is ridiculous.
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Ok guys, we've been getting a lot of calls tho not more than usual requiring a house close to the subway for under $900-$800K. In Forest Hills right now, to have a walk to the subway or LIRR for under 10 minutes would need $1.2mil and up. Supply is minimal and demand is high so that's the reality. For under $900K or so, all houses would be 10 or more blocks away from the train stations. It's not a bad thing plus there is a bus that runs straight down 69th Ave picking up everyone further down forest hills. Most people take that bus that drops you directly to the subway with free transfer.

Another way is to get an apartment. Apartments are abundant on the north side of Queens Blvd and would make your walk to the train station much shorter. Good luck and be well.

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Reply to : ignatus [Anonymous]


Do you guys know how much down payment people usually expect for houses in Forest Hills?


Depending on your financials most sellers are comfortable with at least 30% and up. 25% would pretty much be the cut off line. Every case is different of course but that's the average. Quite a lot of people are buying these days with 50%-75% down so that's the buyers you would be competing with.

Of course, my words should not be taken for future predictions and any forward looking statements are for entertainment purposes only.

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Reply to : Jumbochic [Anonymous]


I think it might be a little hard. Right now houses in Forest Hills seem to range from high $500's to $10million or more it seems. Depending on how interest rates go I don't know which way prices might tend. Problem tho is last year had been really good for wall street so I don't know if those guys might start looking for houses. but half a million would be pretty tough.


The thing with Forest Hills is that it's been the staple name as the best neighborhood for many decades. I know that when I was little in the 80's and kids from other neighborhood asked me where I lived. 'Forest Hills'. and they'd be all surprised or wouldn't believe it because it's the most expensive neighborhood in Queens.

With Express subway stop directly to manhattan in 15-20 minutes, best school districts, booming austin street and the exclusive Forest Hills Gardens in the center, the demand for houses in this area is always really high. Supply is always pretty much fixed. Only a certain number of people wants to move out. It's going to push prices up no matter what.

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Example: 1 bdr in Forest Hills that your RE company wants to sell.
Asking price is 218K
Down payment 20% 43.6K
Mortgage 174.4 K
Monthly mortgage payment at 6% 30 years fixed $1046
Monthly maintenance is about $500
Total monthly payment comes to about $1,500
You can rent a bigger place for this price.
How do you unload it for 218K?

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Reply to : Broker_Buster [Anonymous]


Example: 1 bdr in Forest Hills that your RE company wants to sell.Asking price is 218KDown payment 20% 43.6KMortgage 174.4 KMonthly mortgage payment at 6% 30 years fixed $1046Monthly maintenance is about $500Total monthly payment comes to about $1,500You can rent a bigger place for this price.How do you unload it for 218K?


Well, we are bound by contract to do what the seller asks us to do. So when a seller asked us to list it for X amount, we are not allowed to list it for anything else. Our job also of course is to tell the seller a realistic price in this market, but the seller makes the final decision on how much to market a property for.

Because there are always buyers when the price is low enough, an unscrupulous real estate agent would always want a seller to lower their price as low as possible. That way they can make a quick commission and move onto next property to unload. To my experience it was the same with head hunters finding you a job. The headhunter out to make a quick buck without regards to ethics would try to shove you into a job that they have a listing for. In order to make the deal happen they would try to pass you in for as low a salary as possible because that would make it easy for companies to accept that transaction. Translating to quick commissions.

And actually for $1500/month is a pretty good price for a 1 bedroom in Forest Hills these days. $1000/month would get a studio for rent.

It is true that housing prices are getting higher and higher that it is pricing out a lot of people out of the market. Bloomberg just anounced plans to create new sections of affordable housing. So hopefully everybody will get a place to live in the city. The problem is just there is too much capital in the city per square inch of land. I heard some figures where just new york city alone has more money in bank deposits than the entire state of California. With the concentration of capital and dense population this is one city that has much greater housing demand than supply.

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1. Rent in Forest Hills:
Example:
1bdr - $1,300
http://argo.com/BrokerWebsite3/ArgoCorporation/details_listings.asp?index=8&pages=1

2. 1 bdr apartments for sale in Forest Hills

www.mlsli.com
-RE agents share listings at www.mlsli.com only if they can't sell on their own.
-not a single 1 bdr unit is priced above $200KK's


=========================================================================================
Last 30 days

FOREST HILLS Price: $198,500

Develop: 6787 6809 Corp Maint: $486
3.5 Rooms 1 Bed 1 Full Bath
Schools: Kitchen: Eik
Style: Co-Op ML #1914100 Click for more info


FOREST HILLS Price: $178,000

Maint: $520
4.0 Rooms 1 Bed 1 Full Bath
Schools: Kitchen: Eik
Style: Co-Op ML #1914110


FOREST HILLS Price: $189,000

Maint: $572
3.5 Rooms 1 Bed 1 Full Bath
Schools: Kitchen: Eff
Style: Co-Op ML #1913018


FOREST HILLS Price: $195,000

Develop: Yellowstone Gard Maint: $364
3.5 Rooms 1 Bed 1 Full Bath
Schools: Kitchen: Eff
Style: Co-Op ML #1911539


FOREST HILLS Price: $195,000

Develop: George Washingto Maint: $599
3.5 Rooms 1 Bed 1 Full Bath
Schools: Kitchen: Eik
Style: Co-Op ML #1911587


FOREST HILLS Price: $195,000

Maint: $550
3.5 Rooms 1 Bed 1 Full Bath
Schools: Kitchen: Eik
Style: Co-Op ML #1909032


FOREST HILLS Price: $170,000

Maint: $575
4.0 Rooms 1 Bed 1 Full Bath
Schools: Kitchen: Eff
Style: Co-Op ML #1907787


FOREST HILLS Price: $185,000
66-01 Burns St#4- J
Maint: $494
3.5 Rooms 1 Bed 1 Full Bath
Schools: Kitchen: Eik
Style: Co-Op ML #1908072



FOREST HILLS Price: $179,000

Maint: $537
3.5 Rooms 1 Bed 1 Full Bath
Schools: Kitchen: Combo
Style: Co-Op ML #1907406


FOREST HILLS Price: $189,000
66-09 110 St#1 B
Maint: $572
3.5 Rooms 1 Bed 1 Full Bath
Schools: Kitchen: Eff
Style: Co-Op ML #1906476



FOREST HILLS Price: $200,000

Maint: $597
4.0 Rooms 1 Bed 1 Full Bath
Schools: Kitchen: Eff
Style: Co-Op ML #1906592


FOREST HILLS Price: $185,000

Maint: $556
3.5 Rooms 1 Bed 1 Full Bath
Schools: Kitchen: Combo
Style: Co-Op ML #1905090


FOREST HILLS Price: $189,000

Develop: Nathan Hale Maint: $617
3.5 Rooms 1 Bed 1 Full Bath
Schools: Kitchen: Combo
Style: Co-Op ML #1902524


FOREST HILLS Price: $189,000

Develop: Argo Maint: $600
3.5 Rooms 1 Bed 1 Full Bath
Schools: Kitchen: Eff
Style: Co-Op ML #1901447


FOREST HILLS Price: $165,000

Develop: Forest Delnar Maint: $450
3.0 Rooms 1 Bed 1 Full Bath
Schools: Kitchen: Eff
Style: Co-Op ML #1901639


FOREST HILLS Price: $179,000

Develop: Belair Maint: $695
3.0 Rooms 1 Bed 1 Full Bath
Schools: Kitchen: Eik
Style: Co-Op ML #1898867


FOREST HILLS Price: $189,000
78-14 Austin St#1B
Develop: The Bristol Maint: $499
3.5 Rooms 1 Bed 1 Full Bath
Schools: Kitchen: Eik
Style: Co-Op ML #1898702


FOREST HILLS Price: $198,000
102-10 66 Rd#15 C
Develop: Birchwood Kyoto Maint: $615
3.0 Rooms 1 Bed 1 Full Bath
Schools: Kitchen: Combo
Style: Co-Op ML #1898352


FOREST HILLS Price: $178,000
66-14 Grand Central Pky#2 B
Develop: Grdns@Foresthill Maint: $570
3.5 Rooms 1 Bed 1 Full Bath
Schools: Kitchen: Combo
Style: Co-Op ML #1898353

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Reply to : Broker_Buster [Anonymous]


1. Rent in Forest Hills:Example:1bdr - $1,300http://argo.com/BrokerWebsite3/ArgoCorporation/details_listings.asp?index=8&pages=12. 1 bdr apartments for sale in Forest Hillswww.mlsli.com-RE agents share listings at www.mlsli.com only if they can't sell on their own.-not a single 1 bdr unit is priced above $200KK's=========================================================================================Last 30 daysFOREST HILLS Price: $198,500Develop: 6787 6809 Corp Maint: $4863.5 Rooms 1 Bed 1 Full BathSchools: Kitchen: EikStyle: Co-Op ML #1914100 Click for more infoFOREST HILLS Price: $178,000Maint: $5204.0 Rooms 1 Bed 1 Full BathSchools: Kitchen: EikStyle: Co-Op ML #1914110FOREST HILLS Price:


Yeah, MLS stands for Multiple Limbo Services, where houses that doesn't sell gets dumped into. but don't quote me saying that....

It's hard to tell reasons why those 1 bedrooms are rated that way, our specialty is in houses. but probably the same thing apply to apartments as do houses which of course is location. as a general rule, north side of queens blvd has much less buyers and much greater supply. south side of queens blvd seem to get more buyers and much less supply. barring that, different coop boards set up different requirements, some stricter than others, that could also affect the price. Two seemingly identical building on essentially the same location, commanded by different totalitarian coop boards could make a 1 bedroom cost $150K while the other costing $200+K. but again, apartments are not my specialty so I'm just reciting colleagues' experiences.

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How to figure the real price:

Go to a Queens County Clerk's Office, check past sales records, and figure out what is the real price for a specific apartment in a specific building.

That doesn't help when you buy, but helps a lot when you sell.

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Reply to : Broker_Buster [Anonymous]


How to figure the real price:Go to a Queens County Clerk's Office, check past sales records, and figure out what is the real price for a specific apartment in a specific building.That doesn't help when you buy, but helps a lot when you sell.



We just had a seller whom we've listed his 1 Bedroom apartment on the market for over half a year at ~$220K. For his particular location, we had regular offers to buy at around $180K but the seller refused to accept that. Now the seller took his property to another agency and relisted it for $240K. Go figure.

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Reply to : Msforesthills


We just had a seller whom we've listed his 1 Bedroom apartment on the market for over half a year at ~$220K. For his particular location, we had regular offers to buy at around $180K but the seller refused to accept that. Now the seller took his property to another agency and relisted it for $240K. Go figure.



So, RE agents are not as bad as many sellers are?
"Another agency" is probably called Benjamin Century 21...

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Reply to : Broker_Buster [Anonymous]


So, RE agents are not as bad as many sellers are?"Another agency" is probably called Benjamin Century 21...


A good RE agent would be one who knows and would tell you the realistic market price. Lots of bad people likes becoming RE agents probably cause it seems like easy money from a distance. A good agent is not the norm. I mean if you are a good person, assuming you had the opportunities, you'd probably be doing science, medicine or some type of humanitarian work. Of course not everyone gets that choice, so it wouldn't be fair for me to judge. Yeah how'd you know Century 21 relisted that property? RE agency began as an bored old housewives job and is probably not a field abled young people should get into.

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Hey guys that's why I made this message board. Free dissemination of information is the only way to combat misconduct, scams and corruption that flourishes in secrecy. Internet and free flow of information gives power back to the people. At least in theory.

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Since I have separate tax forms for business purposes, I show a low gross income on my personal income tax form. Forest Hills Coop boards do not seem to like this, and realtors are telling me it will be nearly impossible to get a 1BR coop here, despite having good credit and a decent downpayment.

Is this true? Do I have to stick to sponsor apartments? Are there buildings with more understanding coop boards that I don't know about?

Any feedback would be appreciated, thanks!

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Reply to : dini711


Since I have separate tax forms for business purposes, I show a low gross income on my personal income tax form. Forest Hills Coop boards do not seem to like this, and realtors are telling me it will be nearly impossible to get a 1BR coop here, despite having good credit and a decent downpayment.Is this true? Do I have to stick to sponsor apartments? Are there buildings with more understanding coop boards that I don't know about?Any feedback would be appreciated, thanks!


Hi dini yeah that's the trend in terms of showing high gross income. Because boards don't want to have the headache to figure out your business income plus your personal income. I am not aware of buildings that would spend the extra effort to calculate your total networth/payment potential. Partly because it's more work for them and because there is a big pool of applicants that they can afford to only wnt to see a simple easily understandable income tax statement. You might want to simplify work for the coop boards by preparing something with your accountant that the board can understand your case.

Of course I would not stop just because of that if you have the financial abilities to buy the apartment you are happy about, despite the status quo, I would, as I'm sure you have already done before, petition the coop boards. It never hurts to ask directly and petition.

I'm sure there might be other ways to play around with your tax statements which I'm sure you have considered already. I just think there's always got to be a way, albeit not always easy, if you are financially capable of an apartment you want. Just remember that competition for housing is high in Forest Hills so think of it like a competition.

But of course as always, my words should not be considered legal or financial advice. I'm just a stranger over the internet.

Best of luck!

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Reply to : dini711


Since I have separate tax forms for business purposes, I show a low gross income on my personal income tax form. Forest Hills Coop boards do not seem to like this, and realtors are telling me it will be nearly impossible to get a 1BR coop here, despite having good credit and a decent downpayment.Is this true? Do I have to stick to sponsor apartments? Are there buildings with more understanding coop boards that I don't know about?Any feedback would be appreciated, thanks!



A good broker should be able to get you through any coop Board.
A bad one will drop you and move on.

From my own experience:
Make a quick one-page summary that any retired and retarded coop board member can read.
Use font size 12 and up.

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