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NY Area: Home Ownership Still a Good Investment

December 10, 2010 Leave a comment

No surprise here.

According to recent data from the National Association of REALTORS® (NAR), home ownership is still a solid (if not exciting) decision from an investment standpoint.

For the full Newsweek article, click here.

The better news for NYC area home buyers is that greater NYC area was named the 5th “Best Performing Big Metro” area in the U.S. with a +41% increase in home price from 1990 to 2010, which includes the near -20.0% drop in the past few years.

New York Skyline For more info click here.


Andrew C. WilsonAndrew’s Take:

Overall, none of this should be surprising, especially when you take into account the mid- to long-term time horizon and the source of the information (NAR). For housing in established areas to generally only modestly outpace inflation is historically normal. The major price increases of the early 2000s were an anomaly resulting in the recent decreases in home prices.

Even though the past data looks good for the metro market at large, the prevailing trends don’t apply evenly to every city or neighborhood. Be sure you work with someone who can put specific information in your hands when looking to buy or sell.


Work with a buyer’s agent who is also a licensed architect.

Andrew Wilson: NY Architect and REALTOR®

Looking for Queens or Long Island Real Estate? Contact Andrew today.

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October Long Island Real Estate Skinny

November 27, 2010 Leave a comment

October Long Island Real Estate Skinny

Check out this video for a quick overview of the housing market on Long Island.

Brought to you by MLSLongIsland.

September Long Island Real Estate Skinny

October 29, 2010 Leave a comment

September Long Island Home Sales: Slowly but surely…

Check out this video for a quick overview of the housing market on Long Island.

Brought to you by MLSLongIsland.
Vodpod videos no longer available.

If you are currently looking for a home in Northeast Queens or Western Nassau, contact Andrew Wilson today.

Queens Real Estate Market Report: July 2010

August 20, 2010 Leave a comment

Queens Real Estate Market Report: July 2010

What is the latest real estate market information in Queens?

Are prices up or down?  By how much?  What does this mean to you?  Check out the Queens market report for July 2010. Click the image below for a .pdf download.

Queens July Report

Subscribe to this blog via RSS (at top right) so you don’t miss the next update!


Andrew’s Take:
Andrew C. WilsonIn my opinion, here are the highlights for Queens buyers:

  • On average in Queens, a home, co-op, or condo will still sell for around 90% of its listing price. (p.6 of the report) If you know your price range, keep this in mind when you are shopping.  This trend has been relatively stable while every other metric is volatile.
  • The industry is definitely feeling the hangover from the tax credit.  Many sales were pulled forward by the government incentive. Inventory is creeping up again, meaning there are just more homes for sale… good news if you are a buyer.

If you are interested in discussing the overall market and what it means to you, contact me today. andrew.wilson@realestate.com


Categories: NYC, Queens, Real Estate

July Long Island Home Sales: Hurry Up and Wait

August 18, 2010 Leave a comment

July Long Island Home Sales: Hurry Up and Wait (for jobs)

Check out this video for a quick overview of the housing market on Long Island.

Brought to you by MLSLongIsland.

Vodpod videos no longer available.

If you are currently looking for a home in Northeast Queens or Western Nassau, contact Andrew Wilson today.

Shopping for Home Loan? Consider a Local Bank…

August 16, 2010 Leave a comment

Mortgage rates are way down (sub 4.5%!), but you might get an even better deal by working with a local or regional lender… plus, as a bonus to saving money, you might help a small, local business thrive.  Not bad, right?

Check out this article from the Wall Street Journal: Mortgages: How to Pay Less to find out more. 

House of Money

Categories: Economy, Queens, Real Estate

Queens Real Estate Market Report: June 2010

August 12, 2010 Leave a comment

Queens Real Estate Market Report: June 2010

What is the latest real estate market information in Queens?

Are prices up or down?  By how much?  What does this mean to you?  Check out the Queens market report for June 2010. Click the image below for a .pdf download.

2010-6_QueensJune

Subscribe to this blog via RSS (at top right) so you don’t miss July’s update!


Andrew’s Take:
Andrew C. WilsonIn my opinion, here are the highlights for Queens buyers:

  • On average in Queens, a home, co-op, or condo will sell for around 90% of its listing price.  (p.6 of the report) If you know your price range, keep this in mind when you are shopping.
  • Closed median sales price is down 8.6% from June 2009. (p.2 of the report)
  • Contracts spiked sharply in April (because of the expiring tax credit) and are now down considerably.  (p.8 of the report) Fewer buyers are competing against you.  It is a good time to be shopping.

If you are interested in discussing the overall market and what it means to you, contact me today. andrew.wilson@realestate.com


Categories: Economy, Queens, Real Estate