Profile picture for raj_home2011

Forest Hills home value

Guys - I have a simple question. If a detached house in a decent neighborhood of Forest hills (not gardens) sold for $750k in March 2008, what would it sell for today?

If anybody here has insight into the downturn and trends in Forest hills around that time, they should be able to answer this question

Thank you!
  • June 09 2013 - Forest Hills
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

 
 

Answers (6)

Best Answer

Hi Raj,

This is a tough question to answer without knowing the address and renovations that have been done to the property but I'll do my best. For a single family detached home in Forest Hills (not FH Gardens), purchased in March 2008, I would estimate a 5% decrease in value since then, resulting in an estimated value of $715K in the current market. The good news is that with the inventory shortage for residential homes in Forest Hills at the moment, this number can very likely be higher if it were put on the market.

Ultimately, Price + Condition = Value so the condition of the home would need to be evaluated in order to provide a more accurate valuation.

Hope that helps!     
  • June 17 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Hey Raj,

Glad to hear! Yeah in today's market I would say that you could list for $750K and with the right Realtor®, the right marketing plan, and right staging tactics you could sell for close to that and maybe even more. There's no telling with this market because there are buyer's just waiting for the right property to hit the market and they won't hesitate to pay top dollar if it matches their search criteria...

If you would like helpful information on selling your home feel free to visit our website: [deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines]
Take care! 
  • June 17 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for raj_home2011
George - Best answer and it actually confirms the number I had in my mind but given the inventory shortage, it may a wash

Thx!
  • June 17 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for wetdawgs
Click here for Zillow's graph
  • June 10 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for raj_home2011
Alexander - when I look at the case shiller index, it seems at least 30% lower than that period. 
  • June 10 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

According to the latest trends, A single family home in Forest Hills  purchased in March 2008 would have a estimated increase in value of 2% in todays market place.
  • June 10 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.