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The Faruqi Team

Salim Faruqi - queens real estate

Salim Faruqi

Team Leader

Salim has 25-years of real estate experience in both small- and large-scale residential and commercial sales. He is well-versed in just about every aspect of real estate…

Amber-Faruqi queens real estate

Amber Faruqi

Team Leader

Amber has 9 years of residential and 2 years of commercial real estate experience, including extensive short sale negotiating and contract processing.

eric-ferrara queens real estate

Eric Ferrara

Listing Manager

Eric is a veteran real estate agent who specializes in co-op, condo, single-family and multi-family residential sales. He is a multi-generational native New

Sticky

The housing market continues to grow this year. Low mortgage rates, job, and wage growth are driving demand and enticing new players to get into the market. In fact, a large part of the new entries into the market are Millennials and first-time home buyers.   However, sometimes the road to homeownership can be complicated and being financially prepared is key. We interviewed KB Home Chief Operating Officer Matt Mandino, who shared tips on how millennials (and all first-time homebuyers) can prepare for buying and looking for a new home. First-time homebuyers made up more than 55 percent of the quarter two 2019 business forRead More →

2020 is behind us. Thankfully, if you are reading this, you survived. Tragically, not everyone did, and we all know someone who’s currently struggling with COVID-19, had it in the past or passed away from it. It’s safe to say, the virus changed our lives forever. As far as the real estate market of 2020 goes, it roared like the 1920s, as everyone decided to seek more space, settle into a new retreat, or change locations. The sheer demand and run-up on existing and new inventory created a market shift — and yet another new normal. So, in light of all that has transpired, whatRead More →

Queens ranked among the top 25 most expensive luxury markets in the country in 2020, according to a recent report from My Affordable Luxury Magazine. Queens, not technically a city unto itself, had a more expensive luxury market than a handful of major U.S. cities, including Chicago, Las Vegas and Sacramento. According to the report, the starting point for a property to be included in the luxury market was $1.2 million in Queens, enough to make it the 21st most expensive luxury market in the country. The median price in the borough was $690,000 this past year, according to the report. But despite its highRead More →

Mortgage rates in the U.S. started 2021 by setting another record low. The average for a 30-year, fixed loan fell to 2.65%, down from 2.67% last week and the lowest in data going back 50 years, Freddie Mac said in a statement Thursday. It was the 17th record low since the coronavirus started roiling financial markets last March. Low borrowing costs — down more than a percentage point from a year earlier — have fueled a pandemic housing boom that has pushed the country toward an affordability crisis as home prices rise swiftly and listings grow ever more scarce. Mortgage rates are poised to riseRead More →

The housing market will remain strong through 2021 as the economy recovers from the pandemic-driven recession. In early 2021, homebuyers will remain undeterred by the pandemic, eager to take advantage of sub-3% mortgage rates while they last. Later in the year, the worst of the pandemic will hopefully be behind us, and as businesses reopen and daily activities become safer, a new batch of homebuyers and sellers will enter the housing market, making for the strongest year of home sales since 2006.   Prediction #1: Mortgage rates will remain historically low at 3% In 2021, 30-year-fixed mortgage rates will rise slowly from 2.7% to aroundRead More →

The holidays are—of course—going to look a little different this year. And while this may turn out to be one of the strangest winters of our lives, NYC will always be the most magical place to celebrate the holidays. That’s because, pandemic or not, after 10 months of brandishing hard grit and attitude, this is traditionally the time of year when New Yorkers let their guards down and embrace the season’s merriments. And especially in 2020, we’re ready to revel in all of the cheesy, over-the-top, holiday cheer we can get.   When it comes to 2020’s hottest gift to give and receive—wearing a maskRead More →