Reply to : Anonymous [Anonymous]

Why black money? There are no black people in Russia.



What world do you live in?

In this life everything has a price and its exactly worth what people pay for it. The salary th

Forest Hills Real Estate is not ridiculous anymore except when your wife takes HALF of EVERYTHING YOU WORKED FOR THE WHOLE TIME WHILE SITTING ON HER FAT ASS EATING CHEESECAKE AND DRINKING STARBUCKS DOING NOTHING NOT EVEN TAKE YOUR KIDS TO SCHOOL. NOW THAT IS RIDICULOUS.

Asking for 700K for a house besides the mansions on forest hills gardens is ridiculous unless the house has been completely and thouroughly renovated. I too have been to several open houses that are being offered at the mid to high 600's and i laugh with all the work the homes need. I see average of 60k-100k in upgrades and that's doing most of the work yourself. I purchased a home for $515 in 01/06 and can proudly say that i can offer at the 700k range

Anonymous wrote:

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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Find a building with a "smart" board - i.e. individuals who have business/accounting experience. Try Tilden Arms, Holland House etc. I have heard they (i.e. the Board) have the capability to sort through detailed financials. Avoid Kennedy House - they are assholes and morons.

Interesting watch on the corrupt practices of coops

http://billmurawski.com/videofiles/coop_association/coops.htm

COOP Share holders Association
http://www.ngos.net/csa

Coop Shareholders
"You own nothing"

"The attorney general's know coop boards are corrupt. And you are into a business section. Not a tenant/landlord. 90% of apartments in NYC are coops. The attorney general's only recommendation is 'get out of coops'."

Legal term of a shareholder = 'you own nothing' you can't get a reverse mortgage for a coop.

Thanks for the video it's very enlightening.

Coop Boards make me angry. They will do whatever for a profit and they think of you not as a human being but as an disposable asset.

Coop boards are scums. Well economy is going downhill. So you guys won't have to complain about high prices no more soon. You guys should save up and buy those rowhouses by metropolitan. You can knock them down and turn them into commercial. That's where the money is.

The NAHB is an industry group that is designed to produce forecasts that will make people buy-buy-buy.

They are not going to tell you that prices are going down.

So take with a ton of salt and do some independent research.

I was thinking of buying a studio in the gardens. It has a separate new kitchen separate bedroom and a working fireplace. its about 650 square feet. the owner was asking 295k. Coming from manhattan this sound fair for a studio this large, Any thoughts?

Anonymous wrote:

I was thinking of buying a studio in the gardens. It has a separate new kitchen separate bedroom and a working fireplace. its about 650 square feet. the owner was asking 295k. Coming from manhattan this sound fair for a studio this large, Any thoughts?

YES - TOO EXPENSIVE. Only Manhattan people would pay this amount of money for a studio.

This pricing issue seems to have a catch-22 aspect to it. Even with proper research, a comparative market analysis, statistical evidence of current sale prices and overall location and quality, Brokers are finding sellers that are in a dreamland of what they think their home can sell for. And these sellers seem to get their numbers from thin air with no data to support their prices.

There is a tremendous personal attachment to these homes (structures, commodities...) and we are seeing a stalemate between what a Buyer will ultimately offer and what the Seller is looking to walk away with. No big surprise there.

Let's also be aware of other statistical, objective evidence that the SubPrime Mortgage mess is pumped up by the media, that all Real Estate is local to it's specific area and only 9% of all Mortgages are Sub-Prime (2007 NAR Statistic). That mess occured because these robber-barons of the Banking world manipulated a system with many holes in it to obtain mortgages for Buyers who simply would not qualify any other way. The result is we all take a hit here. For some it two-fold as their homes lose value and some banks not allowing for equity loans. Now the working man has to face the bailout of Fannie Mae and Freddie Mac at his expense! Not to mention Bear-Stearns, Lehman Bros and God knows how many failed Banks.

In my estimation while some homes are certainly priced high for whatever the reason (some newjack agent wants a listing no matter what and the seller is unreasonable), most Real Estate is priced within current market rates. Forest Hills is a great upscale neighborhood and that is also reflected in pricing. Let's not forget those tangible intangibles like proximity to the Subway, Shopping, Dining, Banking. In short everything that has to do with what makes Forest Hills an excellent location to live.

These days people aren't thinking about a place to live, maybe raise a family. Everyone thinks about how much appreciation value a house may gain over the next few years. It perpetuates the escalating price scale. There is one good thing about the current market. I believe it is stabilizing prices and weeding out predators in the business of both Real Estate and Mortgage Banking.

Lastly, I would say if anyone has interest to purchase, now is actually a very good time. We all know interest rates are at historic low levels and there is good inventory currently on the market. As always, a great property that is well priced will always sell and in record time. Don't experience the paralysis of analysis. Buy something already!

GradioM wrote:

What kind of house can I get for half a million in Forest Hills?

500k for a house in forest hills...... wake up and smell the coffee. Go to bushwick or bed stuy you might find one there.

keep the house prices high so we dont get these retards moving into this community

I agree with the older posts, the real estate agents are completely overpricing co-ops. I saw a co-op on 108st street a few months ago that needed a lot of work and was priced FAR too high for this market. The agent lied and said she already has offers on the place, blah blah. The same apt is still listed today!