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North Fork - Long Island - Home Sales - February 2010

March 7th, 2010 category: Real Estate NewsNo Comments »

The following is a market update on activity being enjoyed by home sellers and home buyers on the North fork of Long Island. All data is collected from the MLSLI, and while deemed reliable, no guarantees. Towns incuded are Aquebogue, Baiting Hollow, Calverton, Cutchogue, Greenport, Jamesport, Peconic, Mattituck, New Suffolk, Orient, Riverhead, and Southold, NY.

HOMES CLOSED FEBRUARY 2010

CUTCHOGUE, NY CLOSED HOMES:

110 OAK DRIVE LIST PRICE: 429,900 CLOSED PRICE: 410,000

4030 STILLWATER AVE LIST PRICE: 525,000 CLOSED PRICE: 490,000

1530 S. NEW SUFFOLK ROAD LIST PRICE: 599,000 CLOSED PRICE: 540,000

800 DEPOT LN LIST PRICE: 799,000 CLOSED PRICE: 750,000

GREENPORT, NY CLOSED HOMES:

535 3RD ST LIST PRICE: 339,000 CLOSED PRICE: 329,600

2405 BAY SHORE LIST PRICE: 775,000 CLOSED PRICE: 680,000

MATTITUCK, NY CLOSED HOMES:

2350 REEVES ROAD LIST PRICE: 409,900 CLOSED PRICE: 380,000

4205 BREAKWATER RD LIST PRICE: 699,000 CLOSED PRICE: 640,000

140 BAILIE BEACH RD LIST PRICE: 790,000 CLOSED PRICE: 790,000

RIVERHEAD, NY CLOSED HOMES:

47 SIGAL AVE LIST PRICE: 89,900 CLOSED PRICE: 72,000

32 GROVE ST LIST PRICE: 119,900 CLOSED PRICE: 120,000

215 EAST AVE LIST PRICE: 229,000 CLOSED PRICE: 210,000

375 SOUND SHORE RD LIST PRICE: 499,000 CLOSED PRICE: 426,000

SOUTHOLD, NY CLOSED HOMES:

1065 JASMINE LANE LIST PRICE: 399,700 CLOSED PRICE: 350,00

400 TOWN CREEK LN LIST PRICE: 595,000 CLOSED PRICE: 600,000

915 RUCH LANE LIST PRICE: 699,000 CLOSED PRICE: 610,000

275 SLEEPY HOLLOW LN LIST PRICE: 703,900 CLOSED PRICE: 703,000

1255 WATERVIEW DR LIST PRICE: 750,000 CLOSED PRICE: 720,000

290 RED FAWN RD LIST PRICE: 1,699,000 CLOSED PRICE: 1,500,000

UNDER CONTRACT HOMES, FEBRUARY 2010

AQUEBOGUE, NY UNDER CONTRACT HOMES:

89 JOSICA DRIVE LISTED PRICE: $359,990

77 FOX TRAIL LISTED PRICE: $399,990

BAITING HOLLOW, NY UNDER CONTRACT HOMES:

LOT 16, ALFRED AVE LISTED PRICE: $374,900

LOT 5 ALFRED AVE LISTED PRICE: $449,900

LOT 25 ALFRED AVE LISTED PRICE: $499,990

CUTCHOGUE, NY UNDER CONTRACT HOMES:

16495 COUNTY ROAD LISTED PRICE: 240,000

4520 PEQUASH AVE LISTED PRICE: 415,000

4430 NASSAU POINT RD LISTED PRICE: 799,000

GREENPORT, NY UNDER CONTRACT HOMES:

717 FRONT STREET LISTED PRICE: 325,000

75 ROBINSON RD LISTED PRICE: 429,000

JAMESPORT, NY UNDER CONTRACT HOMES:

224 WASHINGTON AVE LISTED PRICE: 369,000

73 TIMOTHY LANE LISTED PRICE: 379,000

MATTITUCK, NY UNDER CONTRACT HOMES:

430 KRAUS RD LISTED PRICE: 499,000

140 BAILIE BEACH RD LISTED PRICE; 790,000

NEW SUFFOLK, NY UNDER CONTRACT HOMES:

145 FRED DRIVE LISTED PRICE: 649,900

ORIENT, NY UNDER CONTRACT HOMES:

1565 NORTH SEA DR. LISTED PRICE: 699,000

SOUTHOLD, NY UNDER CONTRACT HOMES:

430 GROVE RD. LIST PRICE: 299,000

8150 SOUNDVIEW LIST PRICE: 360,000

830 EDS RD LIST PRICE: 365,000

750 LIBERTY LANE LIST PRICE: 389,000

345 BUDDS POND RD LIST PRICE: 399,000

3600 PINE NECK RD LIST PRICE: 469,000

460 W. CLEARVIEW AVE LIST PRICE: 489,000

1230 OAK DRIVE LIST PRICE: 555,000

665 GOOSE CREEK LN LIST PRICE: 599,000

800 MID FARM RD LIST PRICE: 665,000

185 WILLOW POINT RD LIST PRICE: 1,299,000

TO VIEW ALL AVAILABLE HOMES ON THE NORTH FORK OF LONG ISLAND, CLICK HERE.

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North Fork, Long Island Home Sales Up…

February 9th, 2010 category: Real Estate NewsNo Comments »

While we normally offer a month to month glance at closed properties on the East End / North Fork of Long Island, this report contains under contract activity for the towns of Riverhead, Calverton, Baiting Hollow, Jamesport, South Jamesport, Laurel, Mattituck, Peconic, Cutchogue, Southold, Greenport, and Orient/Orient Point, NY.

The under contract numbers have doubled over those in 2009 during this time period. In 2009, 21 homes were reported under contract from Jan. 1, 2009 to February 8, 2009.

Because there seemed to be interesting activity so far in February, the first week of February is included.

In 2010, there have been 44 under contract single family properties recorded.

Sold pricing remains to be seen; those figures do not appear until a day or two after the closing, so prices shown are the listed prices only. Check back- most will have closed by the end of March.

The MLSLI offers up-to-the minute property updates, and while all figures are deemed reliable, no guarantees.

UNDER CONTRACT NORTH FORK PROPERTIES JAN.1, 2010 THROUGH FEBRUARY 8, 2010:

AQUEBOGUE, NY:

38 Vineyard Way $429,900

BAITING HOLLOW, NY:

Lot 4 Alfred Ave. $374,900

148 Williams Way $429,000

CALVERTON, NY:

1407-05 Middle Road $139,900

36 Gerald Street 219,900

CUTCHOGUE, NY:

16495 County Rd. $240,000

110 Oak Drive $439,900

1640 Sterling Rd $ 529,900

2650 Nassau Point Rd. $686,000

800 Depot Lane $799,000

EAST MARION, NY:

275 Marina Ln. $639,000

GREENPORT, NY:

408 South St. $299,000

307 4th St. $438,888

1000 Sound Dr. $1,195,000

LAUREL, NY:

37 Cedar Ct. $349,900

50 Main Rd. $498,000

MATTITUCK, NY:

5750 Aldrich Lane $509,900

140 Bailie Beach Rd $790,000

RIVERHEAD, NY:

33 Osprey Ave $59,900

47 Sigal Ave $89,900

1108 Delores Ave $195,000

16 Pine Ct. $241,239

70 Constable Drive $309,900

133 Duryea St. $325,000

136 Trout Brook Ln $335,000

SOUTHOLD, NY:

150 Hobart Rd. $350,000

46660 Main Rd $359,000

8150 Soundview Ave $360,000

750 Liberty Lane $389,000

1065 Jasmine Lane $399,700

1230 Oak Lane $555,000

1300 Gin Lane $599,000

800 Mid Farm Rd. $665,000

125 Lighthouse Rd. $675,000

700 North Parish Dr. $699,000

1255 Waterview Dr. $750,000

185 Willow Point Rd. 1,299,000.

PLEASE KEEP IN MIND THAT THIS PRICING DOES NOT REFLECT SOLD PRICING. Once closed, those numbers will be available. All properties shown are the compilations of all MLSLI listed properties on the North fork, by all MLSLI participating real estate offices. Towns and villages absent from the report have not recorded an under contract property between Jan. 1, 2010, and Feb. 8, 2010.

To check out what’s available on the North fork, click here, enter your home parameters, and enjoy!

To check out REO/foreclosure properties on the east end of Long Island (North fork, Hamptons, NY), click here.

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Changes to FHA Loan Guidelines

January 27th, 2010 category: Buyers, Real Estate NewsNo Comments »

Weather Vane FHA has made some recent changes to their lending policies.

In Suffolk County, New York the FHA loan limit is $729,750. While that remains intact, some changes have been made with other policies. One of those is the amount of seller concession permitted (it’s been reduced); the other is the amount that FHA will require for their mortgage insurance premium (MIP).

Changes can be found by clicking here, along with links to other questions that you might have regarding an FHA loan.

With many North fork and Hamptons properties falling into the FHA range, those with credit scores below 600, or limited funds for a down payment might want to check out the HUD site above.

If you have any questions, we’re happy to help.

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Pre Foreclosure Filings East End, Long Island

January 23rd, 2010 category: East End LI Foreclosures, Real Estate NewsNo Comments »

With east end, Long Island lis pendens reports that have conflicting data, we thought we’d present both for the purpose of deciding just how much trouble the east end of Long Island faces with respect to a potential increase in REO properties, and short sales.

This is need-to-know for sellers of homes on the east end, and equally important information for those considering the purchase of a home in the Hamptons, NY area.

Property Shark has provided a report which can be located here.

The Long Island Real Estate Report had provided a report that can be found here.

Because we’re aware of the moratoriums presented in the LI Real Estate Report, their reported (less dramatic) increase makes sense, creating a much lower increase in activity when viewing the months in which lis pendens were prohibited.

One thing’s for sure: there has been a significant uptick in pre foreclosure activity in the Hamptons. While it’s quite possible that some will find a way to maintain ownership of their property, some will elect to walk away, while others are forced. Not pretty, but this market has not pretended to be more than that over the last few years.

Interest rates for mortgages, on the other hand, continue to provide a compelling reason to explore home ownership. The bright spot!

Time will tell. In the meantime, Suffolk Research has provided year over year figures for the east end of Long Island- comparisons are month over month for 2009, as well as a five year look back.

All of the data can be found by clicking here.

*Single Family Homes*
*All Five Towns* 4^th Qtr Market Comparisons - 5 years *Single Family Residences* (Land Use: 210)
Year 4^th Qtr	Median Price $	Dollar Sales ($Millions)	Unit Sales	Percent Increase in Med Price	Percent Increase in $ Sales
2005	664,000	1,103	1,036	-	-
2006	700,000	862	692	5.4	-21.8
2007	750,000	952	642	7.1	10.4
2008	665,000	511	423	-11.3	-46.3
2009	630,700	790	618	-5.2	54.7

If you’d like more information on REO listings, we’re here to help. If you’d simply like to check out what’s available, it’s right there for you- just click the blue tab “north fork homes”.

If you are looking for a home for sale on the North Fork / East End of Long Island, please fill out the form below.

To search available homes for sale on the North Fork / East End Long Island or condos on the North Fork of Long Island, click “north fork homes”, enter your area of interest and any parameters, and click “go”- properties for sale include Riverhead, Aquebogue, Baiting Hollow, Calverton, Jamesport, Laurel, Mattituck, Cutchogue, Peconic, Southold, Greenport, East Marion, Orient, Orient Point, Westhampton Beach, Hampton Bays, Flanders, Southampton, Sag Harbor, East Hampton, Montauk, NY.

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A Four Minute East End, Long Island Property Search Break!

January 15th, 2010 category: Real Estate NewsNo Comments »

Ok- nothing to do with east end, LI homes for sale, sold homes, homes for rent, or second homes…but fun to watch!

For the “other stuff”, click on the homes tab, and get your search started…

http://www.youtube.com/watch?v=7EYAUazLI9k

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Tax Credit for Homebuyers on East End of Long Island

January 15th, 2010 category: Buyers, Real Estate News2 Comments »

For those seeking a home on the North fork or Hamptons, Long Island NY, the homebuyer tax credit has been extended, and modified.

Details on the tax credit can be found on the IRS website, or just click here.

Added to the initial tax credit opportunity is a credit for any homebuyer meeting the stated criteria- it is no longer an offering limited to the first time buyer.

Check it out; the credit, along with low, low interest rates, make for a compelling opportunity to explore a home purchase on the North fork or East end of Long Island- pricing in the Hamptons has dropped along with the North fork, creating some interesting possibilities.

For a recent update on how to file for your credit, click here.

For additional info, call us- we’re happy to help!

Start your search by clicking on the “homes” tab- you will be gaining access to MLSLI property listings on the North fork and in the Hamptons. With an increased number of homes for sale on the east end, the choices are better than ever!

If you are looking for a home or bank owned foreclosure for sale on the North Fork / East End / Hamptons of Long Island, please fill out the form below.

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Year Over Year Home Pricing on the North fork of Long Island

January 2nd, 2010 category: Real Estate NewsNo Comments »

OLD LOCK For those seeking a second home on the North fork of Long Island, it appears that East end pricing is reaching levels of attainability, with sellers understanding the impact of recent market changes…and there have been changes!

No longer is waterfront stratospheric; to the contrary, locating a wonderful water view home for a figure below the $1,000,000. range is becoming a reality. For those seeking a simple cottage, or small get away, it will no longer force that “half a million dollars” figure.

What goes up…must come down, and that reality is being visited in this bucolic, idyllic community. Combine that with record low interest rates, and your property search in 2010 might well provide just the home that you seek!

Below, figures taken from 2009 are compared with closed pricing in 2008- whether the slide will continue is anyone’s guess, but perhaps with interest rates at current levels, it’s worth revisiting that second home dream…

Figures are taken from MLSLI; while deemed accurate, no guarantee. Call us if you’d like a comprehensive look at your area of choice.

EAST END, LONG ISLAND CLOSED HOME SAMPLE COMPARISON 2008-2009, BY TOWN/VILLAGE:

Laurel, NY: 2008
Homes sold: 15
Average sold price:$874,967
Median sold price: $460,000

Laurel, NY: 2009
Homes sold: 9
Average sold price: $629,167.
Median sold price: $465,000

East Marion, NY: 2008
Homes sold: 21
Average sold price: $689,559
Median sold price: $545,000

East Marion, NY: 2009
Homes sold: 11
Average sold price: $661,591
Median sold price: $462,500

Greenport, NY: 2008
Homes sold: 22
Average sold price: $460,382
Median sold price: $417,500

Greenport, NY: 2009
Homes sold: 36
Average sold price: $469,200
Median sold price: $363,750

Mattituck, NY: 2008
Homes sold: 27
Average sold price: $713,688
Median sold price: $569,000

Mattituck, NY: 2009
Homes sold: 37
Average sold price: $538,814
Median sold price: $394,800

Cutchogue, NY: 2008
Homes sold: 43
Average sold price: $861,518
Median sold price: $600,000

Cutchogue, NY: 2009
Homes sold: 26
Average sold price: $787,015
Median sold price: $507,500

Southold, NY: 2008
Homes sold: 66
Average sold price: $985,114
Median sold price: $587,500

Southold, NY: 2009
Homes sold: 62
Average sold price: $581,011
Median sold price: $473,500

*The average pricing is arrived at by taking the total dollar volume of sales, and dividing them by the number of sales to arrive at an average.

The median sold price is arrived at by taking the number right in the middle of solds, with 50% above that figure, and 50% below that figure.

When averaging, if there are a disproportionate number of higher end sales- or lower end sales- the numbers will vary significantly from the median.

We offer opinions on our website; seek a detailed look at your area of choice to establish accurate figures. The above figures are provided as a gauge of market changes…and this real estate market has afforded much it the way of ongoing change!

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Home Inspection Issues for East End, Long Island Home Sellers/Buyers

December 7th, 2009 category: Real Estate NewsNo Comments »

We’ve been very fortunate to experience positive home inspections for buyers, as well as sellers, but there is no question but that for both sides of a home sale transaction, the inspection is cause for stress.

In seeking out great advice from the source (a home inspection company), this site was discovered, and we were happy to see very clear guidelines offered in order to expedite (or not) a home purchase.

For home sellers, provided is a concise list of things to prepare for when anticipating a home inspection- suggestions can be found here. Simple ways to avoid minor problems that might have the appearance of larger problems are worth eliminating prior to putting your home on the market.

For home buyers, an understanding of the purpose, as well as warning signs to watch out for, can be found here.

Understanding just what you’re looking FOR can be found on additional pages found on the site- it’s worth a look!

While we have not used the company that has authored the advice above, they appear to have a very clear understanding of what their customers seek: a successful outcome to a home inspection, with as little in the way of stress as possible!

For a link to NY Home Inspection Group, located in Merrick, NY, their site can be found here.

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HOMES SOLD/HOMES FOR SALE MARKET REPORT EAST END, LONG ISLAND

November 30th, 2009 category: Real Estate NewsNo Comments »

While we’re a month shy of an end to 2009, the following information is data collected from the Multiple Listing Service of Long Island, providing homes sold, and homes available for sale, on the North fork of Long Island.

Offered is a YEAR TO DATE compilation, so numbers provided include homes sold between JAN 1, 2009 through November 29, 2009.
Additionally, homes currently available in each town/village are provided.

AQUEBOGUE, NY HOMES SOLD/HOMES FOR SALE:

Homes available for sale: 64
SOLD year to date: 12
Median sold price: $344,750
Average sold price: $ 574,900

BAITING HOLLOW, NY HOMES SOLD/HOMES FOR SALE:

Homes available for sale: 45
SOLD year to date: 35
Median sold price: $385,000
Average sold price: $377,813

CALVERTON, NY HOMES SOLD/HOMES FOR SALE:

Homes available for sale: 75
SOLD year to date: 17
Median sold price: $174,500
Average sold price: $191,206

CUTCHOGUE, NY HOMES SOLD/HOMES FOR SALE:

Homes available for sale: 54
SOLD year to date: 22
Median sold price: $515,000
Average sold price: $833,000

EAST MARION, NY HOMES SOLD/HOMES FOR SALE:

Homes available for sale: 24
SOLD year to date: 8
Median sold price: $461,250
Average sold price: $665,313

GREENPORT, NY HOMES SOLD/HOMES FOR SALE:

Homes available for sale: 41
SOLD year to date: 30
Median sold price: $368,750
Average sold price: $478,193

JAMESPORT, NY HOMES SOLD/HOMES FOR SALE:

Homes available for sale: 27
SOLD year to date: 11
Median sold price: $393,000
Average sold price: $415,409

LAUREL, NY HOMES SOLD/HOMES FOR SALE:

Homes available for sale: 17
SOLD year to date: 8
Median sold price: $532,500.
Average sold price: $649,688.

MATTITUCK, NY HOMES SOLD/HOMES FOR SALE:

Homes available for sale: 58
SOLD year to date: 58
Median sold price: $405,000
Average sold price: $510,503

NEW SUFFOLK, NY HOMES SOLD/HOMES FOR SALE:

Homes available for sale: 17
SOLD year to date: 5
Median sold price: $2,950,000
Average sold price: $2,105,000

ORIENT, NY HOMES SOLD/HOMES FOR SALE:

Homes available for sale: 16
SOLD year to date: 8
Median sold price: $814,500
Average sold price: $1,123,625

PECONIC, NY HOMES SOLD/HOMES FOR SALE:

Homes available: 12
SOLD year to date: 4
Median sold price: $482,500
Average sold price: $504,000

RIVERHEAD, NY HOMES SOLD/HOMES FOR SALE:

Homes available: 175
SOLD year to date: 64
Median sold price: $278,000
Average sold price: $284,578

SOUTHOLD, NY HOMES SOLD/HOMES FOR SALE:

Homes available: 134
SOLD year to date: 52
Median sold price: $527,500
Average sold price: $ 590,888

To search for condos on the East end (North fork, Hamptons) of long island, click HERE.

To search for single family homes on the East end (North fork, Hamptons) of Long Island, click HERE.

To search for FORECLOSURES/REOS on the East end (North fork, Hamptons) of Long Island, click HERE.

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East End, Long Island Holiday Safety Tips

November 27th, 2009 category: Real Estate NewsNo Comments »

Now that Thanksgiving is here, I find myself planning for lights in and around the house.

While the prospect of getting on a ladder to clip lights on the exterior of the house is not an endeavor to be relished, furthest from my mind were the safety elements of such a traditional endeavor.

I guess we’re lucky that no one has used the wrong ladder, or taken a spill!

In addition to the physical exhertion that requires care, the following article is demonstrative the awareness that we all should keep in mind over the course of the season:

http://esfi.org/files/u1/Holiday_Decorating_Safety.pdf

Here’s to a safe and happy decorating season. Still not sure if the lights requiring a ladder will find their way up this year…

If you are in the process of selling your home, a spotlight on the sign might be nice (they can be found in different colors) but in some cases, less is more. Unlit lights, visible in daylight, tend to be a bit less attractive than a night time display. Additionally, taking care to place inside decorations in such a way as to keep the space itself from feeling cramped might offer a bit more to potential buyers seeking to visualize themselves in your home.

Sometimes, a little less can be a whole lot more…

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