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Posted on July 9, 2015 by Tribune in Real Estate Marketplace
Written by: Michael Stahl
Upon the completion of the real estate market's first quarter this past March, the Queens Tribune published an analysis of Douglas Elliman's corresponding borough report and noted that the Northeastern region of Queens, which includes the neighborhoods Bayside, Whitestone, Douglaston And Flushing, was the only area that saw significant sales drop off from 2014. Inventory was low across the borough and the Elliman report observed the sales volume decreases in almost every portion of Queens. However, the Northeastern section held a dubious honor as the only area enduring a streak of four consecutive quarters with overall sales figure slippage.
Posted on February 5, 2015 by tribune in Real Estate Marketplace BY MICHAEL STAHL
Similar stories are being told by brokers across the Borough, even those working out of Whitestone and Bayside – two neighborhoods where the notion of bargain-priced homes might cripple most Queens residents with cackling laughter. “People are still a little hesitant because of the economy,” says Anthony Carollo of Carollo Real Estate in Whitestone. “It’s been busy, don’t get me wrong,” he adds, “but we’re selling a lot of properties in the $600,000 to $700,000 range, and the would-be-record-breaking $1.3 million-plus homes are sitting on the market waiting.” Of course, the longer a house stays on the market, the more likely a buyer can swoop in and purchase it at below asking price. However, in Carollo’s mind, there are more important factors to be considered when buying into the northeastern section of the Borough. Graph provided by trulia.com. “There is so much character and charm in these homes,” he said. “You’re surrounded by water, between two bridges; there are private beaches.” Public transportation to Whitestone has improved over the last decade and Bayside has its own stop on the Long Island Railroad. Carollo also pointed out that nearby Nassau County has much higher property taxes than Queens does and upstart families are already getting priced out of the western neighborhoods – both statements echo those from brokers Schaefer and Ambron as well. In short, the value of homes in Whitestone and Bayside are a lot better than one might guess, and Carollo says inventory is expected to become scarce, at which point those $1.3 million-plus homes are sure to be reconsidered.