Today’s topic is all about co-ops, so let us bring you up to speed on Forest Hills co-ops with a quick definition.

Co-ops are a common form of urban housing. In many cases, co-ops are a more affordable alternative to renting or traditional ownership. Residents don’t own their co-op unit outright. The building is considered a corporation, and residents own shares that allow them to occupy space within.

Forest Hills co-ops already sound a little different, right? It is important to be aware of these nuances to achieve real estate success in co-op land.

We want you to be totally informed, so here is a step-by-step summary of the co-op purchase process.

1. Select a real estate agent who is well-versed in Forest Hills co-ops.

2. Get preapproved for a co-op loan.

3. Start your search for Forest Hills co-ops.

4. After you find an amazing co-op, see if you meet the qualifications for the down payment and cash in reserve. If living with roommates or subletting your unit is in your future plans, you’ll also need to see if the co-op has restrictions on these situations.

5. Develop and submit an offer.

6. After your offer is accepted, it’s time to complete your board package. This stack of paperwork seems intimidating, but co-ops require it to ensure that residents can handle the financial commitment and will be an asset to the corporation.

7. Select a title company and lender. If you are partnering with a real estate agent who understands Forest Hills co-ops, consider their referrals.

8. Complete a board interview. Don’t be nervous! You already know that you will be a good neighbor. The board just wants to see that for themselves.

9. Close on your co-op and take the keys!

After reading this, you might still have a few questions. What is a co-op loan? What information do I need to complete a board package? We will address these topics in the future. If you’re eager to start your search, connect with Forest Hills Realty to learn more about the ins and outs of Forest Hills co-ops!

Contact us at (718) 997-6000 or email us today for any questions!

As we enter the new year, everyone is talking about fresh starts with a hopeful outlook. It’s time to make a change, whether that change is in your health, your finances or your living situation.

Did we catch your attention? If you want to make a real estate transformation in 2021, Forest Hills homes for sale are worth a look.

We want you to be our neighbor in Forest Hills, but we also want you to feel confident in your real estate investment. Here are three of our favorite home-buying tips for our clients who are on the hunt for Forest Hills homes for sale:

Tip #1: Consider your future needs.

Your decision to buy a home was probably driven by current circumstances. Perhaps you’ve outgrown your one-bedroom co-op, or your workday commute is a two-hour nightmare. As you browse Forest Hills homes for sale, it’s important to honor these current must-haves while thinking about your future needs for space and amenities.

Tip #2: Love your location.

Pay close attention to the home’s exterior surroundings. You can find Forest Hills homes for sale on busy avenues or quiet streets. Try to visit the home on different days of the week and different times of day to get a feel for crowds. Talk to your agent about how location specifics might affect future resale value.

Tip #3: Think outside the box to get your offer noticed.

You’ve been pre-approved for a mortgage and made a reasonable offer on a house you adore. What else can you do to seal the deal? Have your agent do some detective work to find out. With a few simple questions, your agent might find that the seller needs to close in a hurry or needs extra time after closing to vacate the home. If you’re able to accommodate, you can use this information to sweeten your offer.

If you enjoyed these tips and are hungry for more, check back later for more great buyer advice. In the meantime, connect with Forest Hills Realty to learn more about Forest Hills homes for sale!

Contact us at (718) 997-6000 or email us today for any questions!

Did you know that the average seller tosses around the pros and cons of listing their home for seven months before taking the plunge? If you are looking to sell in Forest Hills, we will spend time today easing your mind and increasing your confidence in your decision. Here are some of our top tips for seller success:

1. Pick the right time to sell. If you are looking to sell in Forest Hills, try to hold out for a “seller’s market.” A seller’s market is when there are more buyers than real estate listings. You might also want to check the calendar. Homes tend to sell quicker and for a higher price during the first half of May.

2. Partner with a real estate agent. You can go it alone, but real estate agents work full time for a reason. Selling a home without involving an agent is not for the faint at heart. Get referrals and interview a few agents to find the perfect match.

3. Spruce up your home. You know the drill. Paint your walls in neutral colors, repair broken fixtures and tend to overgrown landscaping to make your home shine. Consider paying for a pre-inspection to catch any major issues that could put a roadblock in your sale.

4. Use a win-win strategy to price your home. Your home’s price tag should be high enough to excite you but low enough to excite buyers. If you are looking to sell in Forest Hills, a savvy real estate agent will help you use a home estimate and a comparative market analysis to price your home competitively.

5. Devise a customized, dynamic marketing strategy. This is one area where your real estate agent will prove to be an invaluable resource. An eye-catching listing, professional photography and the ability to advertise on top real estate websites will add up to seller success.

At Forest Hills Realty, we have more seller tricks up our sleeves. If you are looking to sell in Forest Hills, connect with us today!

Contact us today at (718) 997-6000 or email us here for more information.

 

If you are a commercial real estate investor, you’ve come to the right place. The Forest Hills real estate market is home to some of the most coveted commercial properties in Queens.

If you are thinking of selling commercial property in Forest Hills, welcome! We know how important it is for you to sell your property quickly and for a fair price so that you can move on to your next investment goal.

If you want to join us on a Forest Hills real estate adventure, here are a few things you need to know about commercial properties:

• Forest Hills real estate investors need to have a game plan prepared early to have the best chance at scoring a prime property.
• If you price your commercial property in the “sweet spot,” you won’t need to compromise on your selling price.
• An experienced Forest Hills real estate agent will guide buyers and sellers toward a sound investment. Check out Forest Hills Realty!

At Forest Hills Realty, we want to learn more about your commercial real estate goals. In the meantime, here is a news tidbit about recent commercial real estate happenings in our community.

The Forest Hills Jewish Center Enters the Commercial Real Estate Market

Forest Hills real estate is buzzing with activity as the Forest Hills Jewish Center building hits the market. This prime piece of property is listed at $50 million.

The building is a Forest Hills real estate gem, with Queens Boulevard visibility and Austin Street frontage. It is located three blocks from the subway and two blocks from the LIRR. This property represents an opportunity for investors to use their imaginations to create an innovative mixed-use development.

What will happen to the Forest Hills Jewish Center? According to a statement by Deborah Gregor, the executive director of the facility, they plan to construct a new building to match the changing times. The sale of their current building will help fund the new development.

The Center had been working with a Forest Hills real estate developer in 2019, but the deal never became a reality.

Contact us today at (718) 997-6000 or email us here for more information.

What is co-op housing? If you can’t answer this question, you’re not alone. Many buyers scan past Forest Hills co-ops during their housing search because they don’t understand them. Don’t be one of those people! Today we are going to arm you with the pros and cons of co-op living so that you can be an informed buyer in Queens.

The Upsides of Co-Op Living

There are several reasons why Forest Hills co-ops continue to gain popularity. Here are a few of the big ones:

• Co-ops might be more affordable than condos, single-family homes or other types of ownership.
• Buyers typically get more square footage for their money in a co-op unit.
• Forest Hills co-ops might offer amenities that are hard to find in other types of housing. Think fitness facilities, a doorman or maintained common areas.
• Co-ops generally have a high occupancy rate, meaning satisfied neighbors and financial stability.
• Co-ops don’t operate for profit, so shared costs might be lower than other living arrangements.
• Although unit owners are shareholders in the building, they still receive similar tax deductions as traditional homeowners.

Must-Know Info Before Considering a Co-Op

Some people might look at the following points as co-op negatives. We like to look at them as points to consider. Here is what you need to know before you take the plunge into Forest Hills co-ops:

• Co-ops often require a high down payment, sometimes up to 20%.
• Fewer loan options exist for co-op buyers.
• While renting out your co-op is possible, you and your potential renter might need to jump through several hoops to get the job done.
• If you are interested in a small co-op, you might need to dedicate some of your time to upkeep and maintenance.
• Forest Hills co-ops come with stringent regulations intended to keep payment defaults to a minimum.

Take the Next Step

Today’s read is intended to help you decide if you want to pursue co-op living. If you have additional questions, hustle over to Forest Hills Realty to clear any lingering confusion about Forest Hills co-ops today!

Contact us today at (718) 997-6000 or email us here for more information.

Home Inspections on Forest Hills Homes for Sale: Must-Know Info

COVID-19 has everyone on edge this winter. If you are browsing Forest Hills homes for sale, you’ve probably noticed that the real estate industry has made serious modifications to the way it does business.

Once you find your Forest Hills home, don’t be tempted to cut corners to settle in quickly and safely. Every aspect of your home purchase can be conducted safely, even if you and your real estate agent need to think outside the box.

Today we will focus on one of the most critical steps in purchasing Forest Hills homes for sale: the home inspection. Here’s the lowdown on what to expect from a home inspection during the pandemic:

• Your home inspection will include two additional guests: masks and hand sanitizer. Welcome these guests with open arms, because they are there to keep all parties safe and help your real estate transaction proceed smoothly.
• While masks and hand sanitizer are invited to your home inspection, your friends and family probably won’t be. Home inspections are currently limited to the inspector and buyer, however, other parties may be able to attend virtually.
• Even with masks on, you will need to keep your distance from others during the inspection. We are all used to this practice by now, so this “new normal” shouldn’t be a surprise.
• Ask about virtual inspections on Forest Hills homes for sale. These are often performed for out-of-state buyers, and many Forest Hills home inspectors will gladly comply with this request during COVID-19.
• Look for the most comprehensive home inspection that you can find to limit the number of people that enter your new home. It’s a huge advantage to find an inspector that tests for radon, checks for mold growth or performs other specialized services.

If you are ready to search for Forest Hills homes for sale, Forest Hills Realty can prepare you for every step of the purchase process, including the home inspection. It’s a great time to buy, so don’t let these new procedures get in the way of your real estate goals!

Contact us today at (718) 997-6000 or email us here for more information.

Are you grappling with the idea of searching for Forest Hills apartment rentals in a Covid-stricken world? Although renting looks different today, don’t lose sight of the basics. Here are some questions to ask in person, over the phone, in an email or via a telecall to make sure that your new apartment is just right. This list is your cheat-sheet for rental success!

1. What up-front fees are required? As you browse available Forest Hills apartment rentals, you’ll see that each one requires different fees before move-in. A security deposit and first month’s rent are pretty standard, but be sure to ask about other initial charges so that you aren’t caught off guard.

2. Are there additional monthly fees beyond rent? Forest Hills apartment rentals often come with additional monthly fees for parking, maintenance or other amenities. Know your fees before you sign on the dotted line!

3. What utilities are covered by monthly rent? Tenants are typically responsible for the electricity, cable and gas bills. Trash, sewer and water bills are usually included in monthly rent. Forest Hills apartment rentals are as diverse as the people that live in them, and this info will likely vary.

4. What amenities are included? With virtual tours making it possible to rent an apartment safely, renters might get a skewed perception of the residences that they are viewing. Things like the size of the kitchen, whether the building has a doorman or the nearby conveniences might not be crystal-clear on your phone’s tiny screen. If you’re not sure, ask!

5. Can I personalize the space? In most Forest Hills apartment rentals, your ability to add a personal touch to your unit will be limited. You might be allowed to refresh the walls with a neutral color, change cabinet knobs or make other minor upgrades at your own expense.

Are you ready to brave the rental market? Tuck this list in your pocket and head to Forest Hills Realty where a friendly agent is waiting to help you explore Forest Hills apartment rentals!

Contact us today at (718) 997-6000 or email us here.

To sell or not to sell? If you find yourself asking this question, it might be time to list your Forest Hills property. You’ll want to do everything in your power to ensure a smooth and profitable transaction. If you are looking to sell in Forest Hills, check out these helpful pieces of advice before you take the plunge:

Price To Sell (and To Turn a Profit!)

When your property has a high price tag, it will probably spend a long time on the market. Buyers might skip over it, and there will be a general lack of interest. However, if you bargain-price your property, you won’t make money.

The trick is to price your property so that everyone wins. This is where a comparative market analysis and a property appraisal come in. These valuable tools, offered by Forest Hills Realty, will help you hit that sweet spot in property pricing.

Accentuate Amenities

Homes in Forest Hills come with more perks compared to those in crowded Manhattan. Don’t forget to highlight these unique features of your home. Does your building have a fitness center? Mention it! Is your home located around the corner from a fabulous green space? Tell everyone about it! If you are looking to sell in Forest Hills, these special amenities will make your home stand out from the rest.

Don’t Wait To List Your Property

We are finally emerging from the COVID-19 real estate slump. Buyers are out and they want real estate options. Those who are looking to sell in Forest Hills might see a surprising amount of activity on their home.

If you decide to list your property this fall, you will notice that some things have changed. You might experience restrictions on open houses and property showings. Your agent will have insight into the best way to showcase your property under new COVID-related regulations.

Partner With the Best

Are you looking to sell in Forest Hills? Partner with the best agents in the business. Contact Forest Hills Realty today to discuss your real estate goals!

Contact us today at (718) 997-6000 or email us here.

People are migrating from Manhattan to Forest Hills to reap the financial rewards of cheaper housing. Are Forest Hills real estate prices staying low despite the demand? Let’s find out if there are still deals to be found in Forest Hills!

The High and Low of It

According to a recent survey conducted by Markethink, a real estate marketing firm, Forest Hills currently ranks as the 41st most expensive zip code in New York City. The survey, mentioned in the Queens Chronicle, also lists Forest Hills as the 3rd priciest zip code in Queens.

Does this sound less-than-encouraging to you? Don’t despair! Forest Hills real estate is still filled with housing bargains. A savvy real estate agent from Forest Hills Realty knows just where to look.

Tips To Find a Great Deal in Forest Hills

Forest Hills real estate still comes in at a lower price than several Manhattan neighborhoods. If you are used to Manhattan’s sticker shock, Forest Hills’ housing prices might be refreshingly lower. Here are a few things to consider when you are trying to score a deal in Forest Hills:

Stay away from single-family homes.
If you are scouring Forest Hills real estate listings for budget-friendly housing, you probably won’t see many single-family homes. You’ll fare better financially if you are open to co-op or multi-family arrangements.

Prices trend higher in Forest Hills Gardens.
Forest Hills Gardens is a sanctuary in the city, but your bank account might think otherwise. Don’t cross this charming neighborhood completely off of your list, but understand that you might see fewer options in your price range.

People are reluctant to sell their Forest Hills real estate.
Many Forest Hills residents have mixed feelings about selling. Make a reasonable offer for their home to increase their chances of accepting quickly. If your offer is too low, you run the risk of getting into a bidding war, driving the price over your budget.

Is Forest Hills Your Next Home?

At Forest Hills Realty, our experienced agents will help you find the best deals in Forest Hills real estate.

Contact us today at (718) 997-6000 or email us here.