Realtors in New York commuter towns such as Jackson Heights, Bayside and New Rochelle are reporting that sales and prices are mixed.

Jackson Heights

"Centrally located, Jackson Heights is about 20 minutes to Manhattan by subway and 15-20 minutes to both Manhattan and Long Island by car (traffic-depending of course)," says Realtor Diallo J. Stevens. "Laguardia Airport is only five minutes away in East Elmhurst and JFK (Kennedy) Airport is 15-20 minutes away. Jackson Heights is a very diverse neighborhood, culturally and in terms of property types. Prevalent property types include a large number of co-operative apartments, single and multifamily homes, and some apartment houses. The historic district includes beautiful, large garden homes. Because of the diversity of property types, Jackson Heights can be a very affordable place to live and commute to Manhattan (to work or for leisure). Most of Jackson Heights (11372) is an easy walk to trains -- the 7 train runs along the southern edge across the length of neighborhood, E,F,G,R, V intersect with the 7 at the southwestern edge of the neighborhood. Various local and express lines run throughout Jackson Heights. As the winter thaw begins the spring market is beginning with a bright outlook for the coming months."

Bayside

Says Realtor David Callaghan, "This neighborhood was settled in the late 17th century, soon after Flushing was established. Its name comes from its location on Little Neck Bay. The opening of the Long Island RailRoad tunnel to Manhattan established the area as a commuter suburb, and it maintains its suburban character with many one and two-family homes, along with some apartments. Bell and Northern boulevards are the main commercial streets. The Long Island Railroad Station is located at 213th Street between Bell Blvd. & 41st Ave. The time to Penn Station (34th St. & 6th Ave. NYC) is approximately 25 minutes."

Callaghan says, "The housing market remains very strong in Bayside. As of April 25, 2005, there are 123 homes for sale at an average asking price of $913,582. The lowest price is $458,888 and the highest price is $2,690,000. Although rates have increased from the historic 40 years lows of 2003, according to Freddie Mac, rates remain around 6.0 percent. Freddie Mac reports that for week ending April 21, 2005, interest rates for 30 and 15 year mortgages remain between the low rates of April, 2004 and the highs of mid May, 2004, despite the fact that the Federal Reserve continues to raise short term interest rates. Interest rates on the 30-year fixed loan have declined for the third week, from the March 2005 high of 6.04 percent. Bond investors remained concerned with oil prices, the strength/weakness of the economy, and the fear of inflation. Rates on 30-year fixed loans decreased to 5.80 percent for the week ending April 21, 2005, from 5.91 percent a week ago."

New Rochelle

"The City of New Rochelle is located on Long Island Sound," says Realtor Louis Armetta. "Nicknamed, "the Queen City of the Sound," it is a wonderful waterfront community with a short commute to NYC via Metro-North."

Armetta advises, "It's April and spring is in the air. Soon, flowers will be in bloom. The buyers have come back in full force. The problem is there is a very low inventory of homes for sale. I feel that the residential real estate market will be strong in our territory, and 2005 will be another booming year. With the inventory of homes still low and the demand high, some homes are still going "sealed bid", which means the house is sold to the buyer with highest and best bid, but the market has leveled a bit. Now is not the time to wait to buy that home that you have been thinking about. "Carpe diem" is the famous phrase of the Romans, which means: "seize the day." If one should take anything from this statement, it should be, do not procrastinate! Don't hesitate, because that house you have your eye on will be gone before you know it, unless you make the first move and the similar house you try to buy later will absolutely cost you more."

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Published: April 27, 2005

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