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Old 03-09-2019, 08:51 AM
 
Location: New York
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There is a lot of building going on there. That could drastically change the financial landscape of the area. I imagine anyone owning property is going to benefit a great deal.
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Old 03-09-2019, 10:45 PM
 
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Are there a lot of young families in the area? I do believe its value would hold and could even make on it after few years.
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Old 03-10-2019, 09:49 AM
 
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Yes, there are a lot families in the neighborhood. Most live in apartment buildings. Not many houses in Rego Park. Value will definitely hold for the next 5-10 years, you are also close to a subway stop, although it is local. The location is close to buses, subways, and the LIE and Woodhaven Blvd. All pluses.
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Old 03-11-2019, 05:56 AM
 
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Originally Posted by nyccs View Post
Yes, there are a lot families in the neighborhood. Most live in apartment buildings. Not many houses in Rego Park. Value will definitely hold for the next 5-10 years, you are also close to a subway stop, although it is local. The location is close to buses, subways, and the LIE and Woodhaven Blvd. All pluses.
Also very convenient to shopping (food, small stores and mall shops) as well as the Rego Park library & post office.
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Old 03-11-2019, 06:51 AM
 
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Originally Posted by roseba View Post
There is a lot of building going on there. That could drastically change the financial landscape of the area. I imagine anyone owning property is going to benefit a great deal.
Could you define 'drastic change'? If tiny 80-90 yr. old frame house in need of total renovation already costs $800K+ in the area, how much more upside potential is there?
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Old 03-11-2019, 06:57 AM
 
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Originally Posted by ironlex View Post
Could you define 'drastic change'? If tiny 80-90 yr. old frame house in need of total renovation already costs $800K+ in the area, how much more upside potential is there?
Have you checked out house prices in other parts of the city? House prices are high anywhere in the city, especially safe areas close to highways and a subway stop.
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Old 03-11-2019, 07:53 AM
 
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Originally Posted by nyccs View Post
Have you checked out house prices in other parts of the city? House prices are high anywhere in the city, especially safe areas close to highways and a subway stop.
What parts of the city should serve as proxy to R. Park?
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Old 03-11-2019, 08:07 AM
 
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Originally Posted by ironlex View Post
What parts of the city should serve as proxy to R. Park?
Single family homes in NYC easily go for around $800k.

Real estate is location, location, location...check house listings for nearby areas....Elmhurst, Flushing, Forest hills....that's how much houses go for on the low end. You may dislike NYC houses because they small and outdated but that's what they sell for. Bigger and updated houses easily sell for over $1m.
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Old 03-11-2019, 08:13 AM
 
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Originally Posted by nyccs View Post
Single family homes in NYC easily go for around $800k.

Real estate is location, location, location...check house listings for nearby areas....Elmhurst, Flushing, Forest hills....that's how much houses go for on the low end. You may dislike NYC houses because they small and outdated but that's what they sell for. Bigger and updated houses easily sell for over $1m.
OK. If you idea of a desirable NYC neighborhood looks like Elmhurst or Flushing, then there's nothing to talk about. Also, Rego Park ain't Forest Hills, despite the proximity, and it should not be used as a proxy.
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Old 03-11-2019, 08:20 AM
 
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Originally Posted by ironlex View Post
OK. If you idea of a desirable NYC neighborhood looks like Elmhurst or Flushing, then there's nothing to talk about. Also, Rego Park ain't Forest Hills, despite the proximity, and it should not be used as a proxy.
My point is that the prices are not outrageous considering its location. There is no equal to Rego Park, its it's own neighborhood. Rego Park is not Forest Hills, that's why it costs even more for a house there. You're blasting Rego park like it's a terrible neighborhood, there's plenty of worst off nabes....check out East nY, Brownsville, south Jamaica, and most of the Bronx, etc. Rego park is a fine middle of the road working/middle class neighborhood and the real estate prices show for it. It's not Forest Hills, but it's not far off.
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