Archive for May, 2007

Welcome Starbucks

May 31st, 2007 category: North Fork Neighborhoods, People and Places, Real Estate News, Real Estate Philosophy, Southold Real Estate1 Comment »

I had my first- in -forever Starbucks Mocha yesterday. At the Featherhill shopping center located in Southold, Long Island, New York, a store has just opened.

While the local community generally eschews the presence of visibly large chains and franchises, my favorite mocha flew under the radar somehow. As a small business owner, I can understand concerns about having large chains and franchises come into town- in addition to disturbing the delicate balance of charming, local venues with potentially garish looking entities that include a drive thru, it poses a genuine risk to the continued sustenance of local companies, not to mention the unique aspect of different shops with different local styles. As an area that experiences a high volume of summer traffic, disturbing the balance is a natural concern.

Interestingly, little is noted about the presence of another huge franchise entity, the Cendant Corporation. Having created a separate company that deals only in real estate, Realogy is the owner of several “local” companies, including Century 21, Corcoran, Sothebys International (Daniel Gale), and both ERA and Coldwell Banker. Quite a handful of New York real estate opportunities.

Agway is a large company, but that doesn’t detract from the wonderful store operated in Southold. The McDonalds in Mattituck gets frequent visitors that have a penchant for occasional fast food. While national drugstores are making an appearance, the Southold Pharmacy serves all of my needs, but perhaps I’ll visit the newly constructed CVS,also located in Mattituck (except, I’m always lured into the Love Lane shops, and find it hard to leave)…and what would we do without King Cullen in Cutchogue, when variety is sought? Large, and neccessary, at least to me.

Will I choose Starbucks over a local coffee provider? Yes, and no. If I want a fabulous mocha, Starbucks has my taste buds to a tee. A chain store rarely offers what the local businesses have to offer, and Starbucks doesn’t change that. It just offers a quality choice when the mocha craving hits-until now, it’s been a treat that’s been missing. That said, absolutely nothing can replace the quality breakfast sandwiches, bagels, and pastries offered in Southold- and I always order orange juice with them anyway.

I lived without Starbucks; I think that my quality of day to day would be compromised without our locally owned breakfast contingent. Another great place to stop, over coffee, and discuss your real estate needs: serving experience in real estate to Riverhead, Jamesport, Aquebogue, Peconic, Laurel, Mattituck, Southold, Cutchogue, Greenport, East Marion, and Orient!

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The True Story of The Patton Prayer - Memorial Day 2007

May 28th, 2007 category: People and Places, Real Estate PhilosophyNo Comments »

The True Story of The Patton Prayer

by Msgr. James H. O’Neill

(From the Review of the News 6 October 1971)

Many conflicting and some untrue stories have been printed about General George S. Patton and the Third Army Prayer. Some have had the tinge of blasphemy and disrespect for the Deity. Even in “War As I Knew It” by General Patton, the footnote on the Prayer by Colonel Paul D. Harkins, Patton’s Deputy Chief of Staff, while containing the elements of a funny story about the General and his Chaplain, is not the true account of the prayer Incident or its sequence.
As the Chief Chaplain of the Third Army throughout the five campaigns on the Staff of General Patton, I should have some knowledge of the event because at the direction of General Patton I composed the now world famous Prayer, and wrote Training Letter No. 5, which constitutes an integral, but untold part, of the prayer story. These Incidents, narrated in sequence, should serve to enhance the memory of the man himself, and cause him to be enshrined by generations to come as one of the greatest of our soldiers. He had all the traits of military leadership, fortified by genuine trust in God, intense love of country, and high faith In the American soldier.

He had no use for half-measures. He wrote this line a few days before his death: “Anyone in any walk of life who is content with mediocrity is untrue to himself and to American tradition.” He was true to the principles of his religion, Episcopalian, and was regular in Church attendance and practices, unless duty made his presence Impossible.

The incident of the now famous Patton Prayer commenced with a telephone call to the Third Army Chaplain on the morning of December 8, 1944, when the Third Army Headquarters were located in the Caserne Molifor in Nancy, France: “This is General Patton; do you have a good prayer for weather? We must do something about those rains if we are to win the war.” My reply was that I know where to look for such a prayer, that I would locate, and report within the hour. As I hung up the telephone receiver, about eleven in the morning, I looked out on the steadily falling rain, “immoderate” I would call it — the same rain that had plagued Patton’s Army throughout the Moselle and Saar Campaigns from September until now, December 8. The few prayer books at hand contained no formal prayer on weather that might prove acceptable to the Army Commander. Keeping his immediate objective in mind, I typed an original and an improved copy on a 5″ x 3″ filing card:

Almighty and most merciful Father, we humbly beseech Thee, of Thy great goodness, to restrain these immoderate rains with which we have had to contend. Grant us fair weather for Battle. Graciously hearken to us as soldiers who call upon Thee that, armed with Thy power, we may advance from victory to victory, and crush the oppression and wickedness of our enemies and establish Thy justice among men and nations.

(This article appeared as a government document in 1950. At the time it appeared in the Review of the News, Msgr. O’Neill was a retired Brigadier General living in Pueblo, Colorado.)

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Home Sellers: Before You Sign On The Line…

May 21st, 2007 category: SellersNo Comments »

We are reminded, when considering the magnitude of choosing a company to sell your home, of an oft repeated line spoken in new home sales: you’re only as good as your last sale.

Selling your home is an undertaking, and how it plays out will be largely dependent on the all important decision: whom to choose. Gone, in most markets, are the days of rapid fire offers, one better than the previous. The pace now has slowed down, creating a different environment in which to sell or buy a house.

With this reality, there is also more time to explore your options. It is very important to locate a company-note the absence of the word individual- equipped to handle both your largest asset, and all of those things included in your world. It is now time for you to ask the questions that will provide you with confidence in the company that you select. The following are some fair questions to ask, and might aid in your decision. You’re the boss; it’s your interview.
1. What is the most effective means, in a slower market, that you believe will afford maximum exposure for my home? If the response provided is not accompanied with tangible examples that you can touch or feel, be on the alert. While words are soothing, generalizations such as “ads” or “open houses” don’t provide enough information for you to make a decision. Request specifics, such as photos of listed homes, strategies employed, and the phone numbers of currently listed homeowners. Examples of the success rate of various marketing methods is an entirely appropriate request.

2. What is the primary benefit of employing your company over others that I will be interviewing? “We’re bigger” gets a gong. Large companies, while having benefits, don’t always offer the most current technology or knowledge. A revolving door of agents is not what you want representing your home. Request the most recent sold listings, and the methods utilized to get the property under contract. Be aware that the number of homes listed may correlate directly with the service that you receive. Today’s market requires more attention.

3. Having viewed my home, what target audience do you feel is most likely to consider my property over other properties on the market? A good real estate professional has done some homework before visiting your property. Demographics play a role in determining the source of potential buyers. While certainly not a science, or guarantee that one specific type of buyer may prefer your floorplan, a real estate professional that demonstrates knowledge of your area is important. Be aware that your real estate professional, by law, cannot share things such as race, creed, color, etc. This is about having a feel for who has purchased in your area recently. Are they second home buyers from out of town? Is there a nearby employer with relocating employees?

4. There is nothing wrong with a request for a guarantee in writing of all services, and duration of services, that a company will provide.
While most listing agreements state methods of marketing, to fine tune these services into a plan of action is a fair request. Rather than, “we will call you back”, fine tune it- all showings will be reported to you within 24 hours is an example. Ads in the paper will be offered at what duration is another example. Internet exposure will include what sites, and when, is a fair request. Make a list of things that you’d like to see regularly, so that your surprises are limited. Request that an escape clause be provided if those things that were represented do not occur, with no fee to you.

Now that you’ve obtained, in writing, all of the things that you expect, you can focus on the individual with whom you will be conducting business. Imagine yourself as a prospective buyer. Do you feel that this person represents the qualities that are needed in order to sell the house effectively? The most telling interaction involves those close to you- the family. Do you feel completely comfortable with this person? To choose someone who, for any reason, doesn’t put you at ease, is ill advised. If they cannot relate to children, will they make prospective buyers with children at ease? If they dislike pets, will your own menagerie be a source of stress for them, and by extension, you? It’s perfectly appropriate for you to ask questions about their own life- hobbies, interests, etc. Someone who enjoys camping with the family may have weekends committed- be aware, and ask questions.

Presenting the priority of pricing competitively should be tantamount. Arriving at a price should include an honest assessment. Recent sales in the previous two month period are about as deep as it gets when a market in flux is involved. Listed properties, while of value to you, are not neccessarily representative of “market value.”

Make sure that you are aware of your competition, and that your real estate agent has visited your competition before your interview. If the house down the street just redid a kitchen, how does it compare to yours? Believe me, the prospective buyer will know. Price appropriately. Unfortunately, sellers often go with the highest assessment, ignoring the facts. Avoid this pitfall. You are engaging the services of a professional who is obligated to provide you with an assessment that will get your home sold. By the same token, do not accept a pricing strategy that isn’t focused on getting you the maximum dollar for your home. While it may sound tricky, solid figures should permit you to arrive at a common sales price.

If you have any questions, please feel free to contact Options Realty. We are happy to provide you with any information that might assist with the sale of your home- we operate on the North Fork of Long Island, focusing our attention on homes for sale in Riverhead, Jamesport, Aquebogue, Mattituck, Cutchogue, Peconic, Southold, Greenport, East Marion, and Orient, Long Island, New York.

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Tcht! Tcht! Amazingly Effective Sounds…

May 19th, 2007 category: Real Estate NewsNo Comments »

I recently purchased a mini bulldog puppy (he’s basically a mutt, like all purebreds- bred over the years from small bulldogs, pugs, etc.). He is unlike any dog I’ve ever had, in that he is a true dog- no excessive coddling, little patience at feeding time… a real DOG.
Because his behavior is a bit overwhelming, I’ve enlisted the aid of Cesar Millan’s Dog Whisperer show in order to figure out the best way to get him to stop dragging me down the street when he sees a blowing leaf, or decides that the leash is more interesting than the walk. Like many of you, I’ve utilized the recommended sound, that TCHT! for correction. He is responding- and seems to react immediately to the correction.
I’ve decided that, at closings that involve real estate agents that may talk too much, or attorneys that introduce surprises that come unexpectedly, or lenders that surprise the buyers and sellers with unwanted and unexpected closing costs, that we should all wear collars- the choke kind- with leashes that buyers and sellers control. If they are unhappy with dialogue, TCHT!, JERK, correction. The process, in dogs, redirects focus. “Mr. Seller, my buyer wants the birdbath and it’s not at the hou-” TCHT! The birdbath isn’t in the contract. “Ms. Buyer, this extraneous fee is valid beca-“TCHT! It was never mentioned- get it off the final paperwork. Closings are supposed to be a happy time, and generally speaking, we’d all get through them without the need for correction. If we found ourselves sitting across the table from someone with the choke chain indentations, it would be clear that trouble could be looming. Just a thought. Now, I’m taking Oliver to the beach to go swimming- his breed normally doesn’t swim, but he’s decided that it’s AOK.

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You Don’t Like Us…You Really Don’t Like Us!

May 16th, 2007 category: Real Estate NewsNo Comments »

The following is a condensed version of results published by the National Association of Realtors:

In August, 2006, the National Association of Realtors mailed an eight page questionnaire to 129,500 consumers who bought a home between July, 2005 and June 2006. The survey yielded 7548 usable responses with a response rate, after adjusting for undeliverable addresses, of 6.3%…

This report focuses on all of Suffolk County Long Island, and we thought we’d share some interesting tidbits.

Characteristics of Home Buyers:

median age: 42. First time buyers: 39
64% of home buyers home buyers were married couples
19% of home buyers were single females
10% of home buyers were single males
6% of home buyers were unmarried couples
Characteristics of Homes Purchased:

61% of homes purchased were single family homes
Median price: $455,000.00
The typical buyer purchased a home that was 1939 square feet

The Home Search Process:

Recent home buyers searched for a home for a median of 10 weeks
Recent home buyers saw a median of 10 homes before purchasing
41% of home buyers first learned about a home they purchased via a real estate agent
12% learned of a home they purchased through the internet
60% rated the internet as very useful during their search
52% rated a real estate agent as as a very useful information source

About your experience with your real estate agent:

Buyers:
69% of home buyers purchased their home through a real estate agent.
35% of home buyers will definitely use their agent again

Sellers:
53% contacted only one agent before selecting one to assist in the sale of their home
84% of sellers used an agent or broker to sell their home
60% of all sellers were very satisfied with the selling process
53% of sellers reported they would definitely use the same agent again

For Sale By Owner (FSBO)

14% of sellers sold their home without the assistance of an agent
80% of sellers sold a detached, single family home
The median selling price of FSBO homes was $462,500. compared with
$447,500. for agent assisted home sales.

We’ve included only partial details, but have tried to include, and understand, the data provided. Clearly, the Long Island real estate community has some serious work to tackle. 91% of you ranked honesty and integrity as “very important”, yet only 56% reported that they were “very satisfied” with the honesty and integrity of their agent. Additionally, there’s the issue of the price discrepancy between what a FSBO sold their home for, as compared to the median sold price of agent assisted sales. Keep in mind that with fewer successful FSBO transactions the numbers are somewhat deceiving- had an equal number gone the FSBO route, perhaps that number would differ.

As a company that can plead the 5th to the above time frame referenced due to having opened in 2007, we are looking only to create our OWN numbers that reflect 100% satisfaction. As a home buyer or home seller in the North Fork of Long Island, we’d love to get your “take” on the numbers, and perhaps assist with the improvement of a clearly lacking industry. If you’ve bought or sold a home in Riverhead, Aquebogue, Baiting Hollow, Jamesport, Mattituck, Laurel, Cutchogue, Peconic, Southold, Greenport , East Marion, or Orient, New York, we’d be very grateful for your ideas on how Options Realty can service you in a way that will create full customer satisfaction. Go ahead- tell us your horror stories- but we’d also enjoy the positive tales, as well!

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Downtown Riverhead Deadline Looms

May 13th, 2007 category: Downtown Riverhead, Real Estate News, Riverhead Real Estate1 Comment »

This week I want to introduce a new topic that is a growing news story while spring has sprung here in Riverhead, New York.

Daniel Wagner at Newsday reported in his article Energizing East Main, earlier this month, about the revitalization of Downtown Riverhead. I think his article is helpful in getting things moving forward on East Main.

I want to preface his article by mentioning a few of my own thoughts.

The owners of those semi-abandoned rows of retail storefronts in Downtown Riverhead on East Main St. and The Town of Riverhead need to be held accountable for the turtle pace of advancement that is taking place in Downtown Riverhead re-development. I say, Fix Riverhead Today.

Let’s hope that the Town of Riverhead sticks to it’s guns this Tuesday, May 15, concerning the conditional deadline for Apollo to develop a land-use plan. I’l keep you posted this week if Cardinale’s demands will be met.

Wagner writes that “Cardinale said the town board has demanded that by May 15 the developer present a clearer vision for the southern part of the project, letters of intent from prospective tenants, and a letter indicating whether negotiations had failed.

If they do, that could trigger a provision in the earlier agreement mandating the town to help Apollo obtain needed properties through eminent domain - something all parties said they would like to avoid.”

My feeling is that if the Town of Riverhead and Cardinale were serious, they would hang that threat over the heads of both the Appolo, and Riverhead Enterprises . Why not? Up to this point there hasn’t been any action taken on their part. The threat of eminent domain from the town could be just the fire that the two parties need to be lit under their respective hind quarters…

Read Daniel Wagner’s article, Energizing East Main in Newsday.

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This Week on Smart Radio - Urban Redevelopment

May 13th, 2007 category: Downtown Riverhead, Real Estate NewsNo Comments »

Smart City™ is a weekly, hour-long public radio talk show that takes an in-depth look at urban life, the people, places, ideas and trends shaping cities. Host Carol Coletta talks with national and international public policy experts, elected officials, economists, business leaders, artists, developers, planners and others for a penetrating discussion of urban issues.
Urban Redevelopment is the topic this week on Smart City Radio.

Urban redevelopment has been fun to watch over the past decade. Surprising projects are popping up everywhere, and Smart Cities guests this week are behind some of the most interesting.

Eve Picker is transforming Pittsburgh’s long-ignored downtown buildings into stylish residences and offices, setting the stage for future residential development in the heart of that city. Trained as an architect and urban designer, Eve has built an entrepreneurial real estate development business called No Wall Productions in Pittsburgh.

Jeanne Goodman was the very first investor in Boston’s Jamaica Plain Cohousing where she now lives. It is an unusual style of shared living with neighbors to fit today’s busy lifestyles. Jeanne is a co-housing advocate with Ecodevelopments. Her newest project is EcoVillage.
Listen to this segment.

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Nassau Point, Cutchogue, New York

May 10th, 2007 category: Buyers, North Fork Neighborhoods, Sellers, Southold Real EstateNo Comments »

Nassau Point, located in Cutchogue, New York, is a summer retreat offering a wide array of choices. The feeling when entering this community is “woodsy-water.” The choices are unlimited, and fit most budgets- and the offering of properties is generally ongoing. Take this to mean: there are usually opportunities to purchase a home in this special community.

While a large community by North Fork standards (there are hundreds of homes in this enclave) I had the opportunity last summer to attend their annual tag sale, held on the beach parking lot. The upbeat mood of the “vendors” created a lovely opportunity to view not only the wares, but the spectacular views of Peconic Bay, with its sandy white beach- available to all of the residents of this community. While some beaches in the area are a bit rough on the toes, this beach is a sunbathing, water play environment- complete with a playground for the kids.

The community itself is a winding, woodsy interplay of magnificent historical homes, mixed with newer properties- no conflict, as each home is snug in its own little forest.

Known for offering an upscale environment for the summer crowd, the area is also home to full time residents, appreciative of the serene environment that this community provides.

Homes range from the 500’s to the millions-plus (waterfront, with unparalleled views) but the feeling that I got at the tag sale was one of cohesiveness within the community- intimate, regardless of the property size.

Contact us for a complete list of available properties in Nassau Point- we’d love to show off this amazing enclave of rich history, complete with a magnificent beach- a wonderful place to live, and play!

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How Yahoo is Like The Yankees Buying Roger Clemens.

May 7th, 2007 category: People and Places, Real Estate News, Real Estate PhilosophyNo Comments »

Mighty oaks from little acorns grow…
We have been getting calls all week from Yahoo, pitching me their curve ball “exclusive” 1 of 10 Realtor package ad campaign. Relentlessly. Daily. Computably. By using simple deduction, I easily figured that it was a call based on the direct result of our blogging and Jim’s training. It’s pretty simple. Let’s look at it in the frame work of before & after.
Before Options Realty started blogging, the site was stagnant because of our ignorance. Our web designers and hosting services certainly didn’t provide us with any direction, instruction, or creative support. All they wanted was the money.

That may sound harsh, but “Actions Speak Louder Than Words”. Wasting money only goes so far with me. One thing has led to another over these past few months, and I have to say how much this bloggin’ thang’ has helped the business and our effectiveness as Realtors. I have really come to grasp the value and appreciation of hard work and good people, like family and friends, getting behind this blog to garnish positive and productive results. And so, our oak tree grows…

Google Docs & Spreadsheets — Web word processing and spreadsheets. Edit this page (you have permission)

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Taxed Enough! Evidently not in Red Hook.

May 4th, 2007 category: People and Places, Real Estate NewsNo Comments »

NYSAR’s Government Affairs Department reported this week that…

The Red Hook transfer tax was approved by 31 votes - With 2,629 votes cast, a significant turnout for such a small community, Red Hook residents approved a 2 percent real estate transfer tax by a mere 31 votes on Tuesday, May 1. NYSAR and the Dutchess County Board of REALTORS were extremely active in opposing this proposal over the past several months and though we did not prevail, there are numerous lessons to take away from this effort. Those in support of the measure likely spent between $50,000 and $100,000 while NYSAR allocated $20,000 from its Issues Mobilization Fund to oppose the measure.

Comments from an article in Wednesday’s Poughkeepsie Journal show that NYSAR’s message of “enough is enough taxes” resonated with Red Hook voters. We learned much about the tactics of the pro-tax forces that will certainly be a great benefit as we move forward and address future transfer tax and mortgage recording tax proposals.

Judging by results, “enough is enough taxes” evidently did not resonate enough in Red Hook.
Better luck with the Hudson Valley Community Preservation Act of 2007.

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