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North Fork, Long Island Short Sales

May 15th, 2012 category: Buyers, East End LI Foreclosures, Real Estate NewsNo Comments »

It’s been some time since a blog focusing on short sales has been on the site, but it’s becoming more and more apparent that we may be reaching a point where banks actually WANT to work with a short sale transaction.

The typical reaction from most to those two words- “short sale”- often elicit some expression of frustration- for the last several years, they’ve been a challenge.

Today, as I was reading National Mortgage News, short sale transactions captured two interesting headlines. One was, “Megabanks Ramping Up Use of Short Sales”, and the other interconnected article was entitled “Why Are We Seeing Fewer Foreclosures?”.

Interconnected, because within the contents of the “Megabanks” article, was the following:
“With a huge pool of seriously delinquent loans in their pipeline, mega servicers increasingly are turning to short sales as a way to skirt the foreclosure process and retire loans.”

For those unfamiliar, mega servicers are the large banks- JP Morgan Chase, Wells Fargo, Bank of America, Citibank, and a handful of others.

Within the article entitled “Why Are We Seeing Fewer Foreclosures”, the following was highlighted: “Foreclosures are more difficult to complete, making for fewer trustee sales and fewer assets becoming REO.”

This is particularly true in New York, where the foreclosure process involves proof of ownership and a judicial process overseeing events (and paperwork submissions).

For homeowners in the thinking stages of how to address a delinquent loan, it may be a good time to consider a short sale- certainly, a more successful outcome exists with the snag that the judicial process has delivered to lenders. Not so, a few years (even a year) ago.

While there is paperwork required, it is a myth that “hardship” must exist. To the contrary, while a hardship letter may be required, actual hardship is subjective- or, more so than it was. It’s not unusual to see a short sale closing occur absent a hardship- each scenario differs, but banks appear more willing to work with homeowners who simply want to get out from under a property that they might otherwise simply stop making payments on.

If you’re in a situation in which you want to move, but are unable to, due to an above market loan amount, give us a call- there may be an increasingly civilized process with a short sale right around the corner. We can be reached at 631-727-2227.
No promises or guarantees, but it’s certainly looking as though the words “short sale” may no longer elicit panic attacks, hives, or any number of stress related reactions that attached themselves to the process!
To view North fork, Long Island/ east end short sales, click here. To sell your home, email or call.

Closed Condos North fork, Long Island Real Estate

January 19th, 2012 category: Real Estate NewsNo Comments »

Closed Condominiums, North Fork, Long Island for 2011

The following information comes from the Multiple Listing Service of Long Island. While deemed reliable, no guarantees. Bold indicates sold pricing vs. listed price. Common charges estimated.

The Bluffs, Baiting Hollow NY
Common Charges: $368-$379
Sold: 2
$399k; $399k
$429.9; $378.5k
Currently available condos for sale: 6
$299k-$449k

The Knolls, Baiting Hollow NY
Common Charges: $315-$343
Sold: 4
$217.8k; $209k
$299k; $225k
$309.9k; $275k
$345.5k; $310k
Currently available:3
$375k-$449k

Foxwood Village, Calverton NY
Common Charges: $450-$483
Sold: 4
$125k; $112k
$173k; $163.5k
$210k;$188k
$235k; $227.5k
Currently available: 10
$95k; $335k

Windcrest East, Calverton NY
Common Charges: $310
Sold: 3
$399.9k; $380k
$449k; $423k
$479k; $450k
Currently available: 1
$469k

Driftwood Cove (co op), Greenport NY
Common Charges: $318
Sold: 1
$133k; $115k
Currently available: 6
$99k-$125k

Cliffside Resort, Greenport NY
Common Charges: none shown
Sold: 1
$369k; $359.8k
Currently available: 0

Sterling Cove, Greenport NY
Common Charges: $523
Sold: 1
$695k; $620k
Currently available: 1
$675k

Maidstone Landing, Jamesport NY
Common Charges: $535
Sold: 3
$749k; $690k
$759k;$720k
$752k; $695k
Currently available: 6
$699k-$1.17m

Willow Pond, Riverhead NY
Common Charges: $270-$292
Sold: 5
$265k; $245k
$299k;$292.5k
$329k;$320k
$339.9k;$322.5k
$349k;$344.8k
Currently available: 9
$245k-$378k
Mill Pond, Riverhead NY
Common charges: $230
$279k; $257.5k
Currently available: 2
$212k-239k

Sunken Pond, Riverhead NY
Common charges: $300-$310
Sold: 5
$303k;$300k
$325k;$309k
$327.5k;$310k
$329k;$310k
$329.2k;$320k
Currently available: 5
$282k-$329k

Stonleigh Woods, Riverhead NY
Common charges: $285
Sold: 7
$365k; $369.4k
$365k; $376.8k
$365k;$372k
$375k;$421.2k
$375k; $398.2k
$450k;$435k
$450k; $422k
Currently available: 2
$380k-$395k

Saddle Lakes, Riverhead NY
Common charges: $305-$315
Sold: 1
$449k; $395k
Currently available: 4
$389k-$485k

Founders Village, Southold NY
Common charges: $240
Sold: 3
$365k;$350k
$375k; $357.5k
$380k; $365k
Currently available: 3
$314.9k;$335k

Colonial Villlage (co-op) Southold NY
Common charges: $386-622
Sold: 0
Currently available: 2
$172.6k-$278.3k

The Cove, Southold NY
Common charges: $394
Sold: 1
$649k; $635k
Currently available: 2
$599k-$839.9k

Each condominium community has its own flavor- while most offer amenities (pool, clubhouse), some restrict age to 55 and better. Others prohibit pets. If you are looking for a retirement home, or second home on the North fork of Long Island, and prefer a maintenance free lifestyle, call or email today for North fork condo opportunities!

Thinking of selling your North fork condo? Give us a call today- we’re happy to help you arrive at a strategy to get your home SOLD! We receive many inquiries, and may have someone looking for a condo in your neighborhood. 631-727-2227

To view condos for sale on the North fork of Long Island, click here, and check the condo search box. This search will provide you with all MLS listed condominiums on the North fork of Long Island.

Email us: stark@optionsrealty.com

North Fork, Long Island Real Estate: Home Sales 2011

January 18th, 2012 category: Real Estate NewsNo Comments »

January Day on the Bay

Home Sales Activity in 2011 for the North fork of Long Island

The following is a recap of activity for closed properties on the North fork of Long Island.
Whether you’re thinking of buying North fork real estate, or considering the sale of your North fork home, check out the changes from 2010 to 2011 by village.
All information is based on figures provided by MLSLI.*
By town/village, the following numbers are the closed homes for 2011:

Aquebogue:
Total homes sold: 27
There were 8 homes closed below $350k
There were 8 homes between $351k and $500k
There were 10 homes between $500k and $999k
There was 1 home above $1 million
2011/2010 comparison: there were 30 homes sold in 2010

Baiting Hollow:
Total homes sold: 15
There were 7 homes sold below $350k
There were 6 homes between $351k and $500k
There were 2 homes between $500k and 999k
2011/2010 comparison: there were 30 homes sold in 2010

Calverton:
Total homes sold: 5
There were 5 homes sold below $350k
2011/2010 comparison: there were 10 homes sold in 2010

Cutchogue:
Total homes sold: 38
There were 6 homes sold below $350k
There were 13 homes sold between $351k- $500k
There were 12 homes sold between $501k-$999k
There were 4 homes sold between $1mm-$2mm
There were 2 homes sold above $2 million
2011/2010 comparison: there were 37 homes sold in 2010
**UP IN VOLUME YEAR OVER YEAR**

East Marion:
Total homes sold: 11
There was one home sold below $350k
There were 6 homes sold between $351k-$500k
There were 2 homes sold between $501k-$999k
There were 2 homes sold between $1mm-$2mm
2011/2010 comparison: there were 7 homes sold in 2010
**UP IN VOLUME YEAR OVER YEAR**

Greenport:
Total homes sold: 29
There were 11 homes sold below $350k
There were 9 homes sold between $351k-500k
There were 7 homes sold between $501k-999k
There were 2 homes sold between $1mm-$2mm
2011/2010 comparison: there were 26 homes sold in 2010
**UP IN VOLUME YEAR OVER YEAR**

Jamesport:
Total homes sold: 15
There were 4 homes sold below $350k
There were 8 homes sold between $351k-$500k
There was 1 home sold between $501k-$999k
There were 2 homes sold between $1.2m- $1.7m
2011/2010 comparison: there were 21 homes sold in 2010

Laurel:
Total homes sold: 9
There were 2 homes sold below $350k
There were 5 homes sold between $351k-$500k
There were 2 homes sold above $500k at $550k and $609k
2011/2010 comparison: there were 6 homes sold in 2010
**UP IN VOLUME YEAR OVER YEAR**

Mattituck:
Total homes sold: 45
There were 16 homes sold below $350k
There were 13 homes sold between $351k and $500k
There were 10 homes sold between $501k and $999k
There were 3 homes sold between $1mm-$2mm
There was 1 home sold at $2,350,000.
2011/2010 comparison: there were 53 homes sold in 2010

New Suffolk:
Total homes sold: 5
There was 1 home sold below $350k
There were 2 homes sold between $501k-$999k
There were 2 homes sold between $1mm- $1.5mm
2011/2010 comparison: there were 7 homes sold in 2010

Orient:
Total homes sold: 14
There was 1 home sold below $350k
There was 1 home sold between $351k-$500k
There were 10 homes sold between $501k-$999k
There were 2 homes sold between $1mm-$2mm
2011/2010 comparison: there were 15 homes sold in 2010

Peconic:
Total homes sold: 3
There were no homes sold below $350k
There were 2 homes sold between $351k-$500k
1 home sold for $2,150,000
2011/2010 comparison: there were 12 homes sold in Peconic in 2010

Riverhead:
Total homes sold: 57
There were 41 homes sold below $350k
There were 10 homes sold between $351k-$500k
There were 5 homes sold between $501k-999k
There was 1 home sold at $2,200,000
2011/2010 comparison: there were 68 homes sold in 2010

S. Jamesport:
Total homes sold: 4
There were no homes sold below $350k
There were 2 homes sold between $351k-$500k
There were 2 homes sold between $501k-$999k
2011/2010 comparison: there were 9 homes sold in 2010

Southold:
Total homes sold: 80
There were 15 homes sold below $350k
There were 38 homes sold between $351k-$500k
There were 24 homes sold between $501k-$999k
There were 3 homes sold between $1mm-1.55 mm
2011/2010 comparison: there were 89 homes sold in 2010

The average listing price to closed price varied by 7.42% in 2011
The average listing price to closed price varied by 7.31% in 2010
The average closed price for all towns/villages was $521,805 in 2011
The average closed price for all towns/villages was $532,873 in 2010
TOTAL HOMES SOLD 2011: 358; TOTAL HOMES SOLD 2010: 420

To view east end reo/foreclosure homes, click here

To view MLSLI listings for all of the east end of Long Island (Hamptons, North fork) click here.
If you are thinking about selling your home, and would like a price opinion, call or email today!

*mlsli is the Multi List Service of Long Island

This report does not include homes closed outside of the MLSLI system.

November Home Sales North fork, Long Island

December 5th, 2011 category: Real Estate NewsNo Comments »

lightpost sign PicNik The following properties have sold in November on the North fork of Long Island (sold=closed real estate transactions for all villages). This report is for single family properties from Riverhead to Orient Point. Asking price/Closed price:

Aquebogue, NY:
365 Stonecrop Rd: $599k/$569k

Cutchogue, NY
Total sold: 6
1975 Skunk Ln: $369k/$335k
3610 Bridge Ln: $389k/$372.5k
1455 New Suffolk Rd: $400k/$355k
6145 Bridge Ln: $529k/$515k
1547 Stillwater Ave: $759k/$700k
1050 W. Cove Rd: $2.2M/$1.95M

East Marion, NY
2940 The Long Wy: $350k/$352.8k
1910 The Long Wy: $425k/$365k
240 The Crescent: $449k/$425k
15345 Main Rd: $1.335M/$1.3M

Greenport, NY
620 Maple St: $195k/$190k
300 Bailey Ave: $369k/$350k
1410 Maple Ln: $450k/$390k

Jamesport, NY
36 St. Marys Dr: $435k/$415k
966 Peconic Bay Blvd: $449k/$400k
270 Herricks Ln: $499k/$485k

Laurel, NY
1810 N. Oakwood Dr: $435k/$400k

Mattituck, Ny
2490 Pike St: $179k/$145k
1175 Central Dr.: $319k/$315k
3225 Grand Ave: $359k/$300k
3500 Cox Neck Rd: $409k/$385k
1145 Grand Ave: $454.9k/$447.5k
New Suffolk, NY
735 Jackson St: $1.395M/$1.312M
755 Kimogenor: $1.6M/$1.5M

Orient, NY
29215 Main Rd: $799k/$730k
21055 Main Rd: $799k/$754k

Riverhead, NY
772 Raynor Ave: $145k/$77k
1075 Northville Tpke: $179k/$168k
140 Woodhull Ave: $239k/$217k
140 Rabbit: $275k/$273k
906 Pond View Rd: $339k/$315k
115 Hubbard Ave: $395k/$385k
11 Kingfish Ct: $449k/$414.2k

South Jamesport, NY
126 Green St: $449k/$395k

Southold, NY
50915 Main Rd: $349k/$335k
1845 Hortons Ln: $499k/$499k
1305 Bay Haven Ln: $519k/$487k
450 Brigantine Dr: $549k/$484.6k
1135 Calves Neck Rd: $875k/$850k

Homes closed November 2011: 40
Homes closed November 2010: 42

Homes under contract have increased in November 2011 vs. November 2010.
Total homes reported under contract for 2011 are 37
Total homes reported under contract in 2010 were 35.

It would appear that while home sellers on the North fork are not reducing their homes for sale at the onset, they are accepting a larger discount from list pricing in 2011 over 2010.
Average listing discount in 2011: 7.71
Average listing discount in 2010: 4.69

Providing an “average” sales price is often skewed when a few large, or a few small properties appear, so keeping that in mind, and using as a guideline actual closings shown above, the average sales pricing from 2011 vs 2010 is as follows for all of the North fork:
2011 average sales price: $516,446.
2010 average sales price: $446,531
Interestingly, the median difference is less dramatic:
2011 median sales price: $397,500
2010 median sales price: $377,500

If you are interested in finding real estate on the North fork of Long Island, click here.
If you are interesting in finding an east end reo/foreclosure in the Hamptons and North fork, click here.
*all statistics used can be found at MLSLI. While deemed reliable, no guarantees.

Closing Costs for East end of Long Island Real Estate

November 27th, 2011 category: Real Estate NewsNo Comments »

11_27_11PicNik Closing cost estimate of expenses for home buyers of East end (Hamptons, North fork) real estate:

As related to your mortgage, the following are estimated buyer closing costs:

Origination fee- varies by lender, but is typically 1% of the loan amount

Points- depending on the interest rate desired, a point is equal to 1% of the mortgage amount. While it’s possible to get a “par” (0 points) rate, your lender will disclose fees attached to the rate quoted.

Private Mortgage Insurance (PMI)- for loans with less that 20% down, PMI is required by many lenders. Your lender will provide the cost specific to your purchase.

Homeowners Insurance- also a monthly fee, lenders will require that the first year premium be paid up front.
Your lender will also provide you with any miscellaneous fees required when they work up your good faith estimate.
Because of the costs associated with your loan that are in addition to your down payment, it’s always wise to meet with your lender before seeking a property to buy.

Additional buyer closing costs in New York :

Title Insurance- the amount of this expense will depend on the price point of the property. A handy calculator can be found here.

Mansion Tax: When your purchase includes a property with a cost in excess of $999,999, there is an additional tax of 1% of the purchase price.

Peconic Land Trust Tax: on the East end of Long island (Hamptons, North fork), there is a 2% transfer tax required. In some areas the first $150,000 is exempt; in other areas the first $250,000 is exempt.
Details can be found here.

Attorneys fees must also be added- these vary. The above is a guide for estimating- your lender and attorney will be able to provide you with figures as they relate to your specific purchase, and will identify their fees.
In the event that a survey is required for your purchase, plan on an additional $550-$900.
There will be a mortgage recording tax required for your purchase.

For sellers, the list is shorter.

In addition to real estate broker fees (if any), home sellers on the East end will have the following expenses:

Transfer tax: in Suffolk county, the tax is $2.00 per every $500.00 of the purchase price.

Recording fees: you will be filing a satisfaction of mortgage- see above.

Attorney fees- vary.

The above is a guide to assist in calculating rough costs- your title company/attorneys will provide figures specific to your purchase/selling price.

3rd Quarter North Fork, Long Island Home Sales

October 22nd, 2011 category: Real Estate NewsNo Comments »

net & bird Because we at Options Realty try to stay on top of trends, there are no surprises with the third quarter home sale results culled from MLSLI on the North fork of Long Island.

Nonetheless, as a buyer or seller of a home on the North fork, if you’ve missed our previous reports, this might shed some light on what’s happening in the east end of Long Island home sale arena.

What we like about using MLSLI results is the timing of closings provided. Most real estate firms on the North fork are diligent about maintaining updated closings- these results appear on MLSLI market share reports, so the motivation is built in- if a closing isn’t provided, it doesn’t reflect a company’s activity overall (in addition to providing an MLSLI fine for a lack of diligence). Closings are typically reported within 24 hours of the event- as current as it gets.

By contrast, the use of county closed records is problematic due to the lag time- a closing occurring in June might not appear on the record until August. We had one closing that took four months to be recorded. While definitive, not current.
Additionally, county records provide all closings. By good fortune, however, the North fork is fully engaged in the use of an MLS, so in the interest of fairness, it’s important to note that while MLS figures will not include homes closed outside of the properties in the MLS, we believe that a current large majority of MLS listed homes, in a tumultuous market, provides important up to the minute trend information, useful for all.

In real estate, it would appear that now, more than ever, timing is everything- you must be on top of current trends as a home seller (pricing and direction) and home buyer (pricing and direction).

So, what MLSLI is re-telling (based on past quarters) is that we are in a decline in both homes sold, homes under contract, and overall average pricing. Good for home buyers; not good news for home sellers.
On the plus side, homes under contract have kept fairly close to last year, demonstrating a stability that is encouraging. Things certainly haven’t stopped in their tracks.

HOMES UNDER CONTRACT FROM 6/1/2011 THROUGH 9/30/2011: 137
HOMES UNDER CONTRACT FROM 6/1/2010 THROUGH 9/30/2010: 143
What’s interesting is what follows: the average sales price in 2010 for the North fork overall was $538,174- the average asking price was $606,000.
The average asking price in 2011 for homes under contract is $531,013- clearly, sellers are taking heed of market conditions. Until these houses close, we don’t have the sold pricing.

CLOSINGS 6/1/2011 THROUGH 9/30/2011: 123
CLOSINGS 6/1/2010 THROUGH 9/30/2010: 152

The breakdown is as follows for homes sold in Riverhead, Jamesport, S. Jamesport, Aquebogue, Calverton, Baiting Hollow, Laurel, New Suffolk, Mattituck, Cutchogue, Peconic, Southold, Greenport, E. Marion, Orient: Single family detached homes. Deemed reliable, no guarantee.

AQUEBOGUE, NY:
Total homes sold: 16
Low: $267,500
High: $947,500
Average sold pricing: $434,681.00
# homes sold below $399k: 8
# homes sold above $399k: 8

BAITING HOLLOW, NY
Total homes sold: 3
Low: $334,500
High: $390,000
sold pricing was $334,500; $385,000; $390,000

CALVERTON, NY
Total homes sold: 2
Low: $139,900
High: $190,000

CUTCHOGUE, NY
Total homes sold: 10
Low: $288,000
High: $735,000
Average sold pricing: $ 458,077
# homes sold below $399k: 5
# homes sold above $399k: 5

EAST MARION, NY
Total homes sold: 3
Low: $535,000
High: $1,937,500
sold pricing was $535,000; $945,500; $1,937,000

GREENPORT, NY
Total homes sold: 15
Low: $175,000
High: $1,315,000
Average sold pricing: $454,333
# homes sold below $399k: 9 (5 sold below $299k)
# homes sold above $399k: 7

JAMESPORT, NY
Total homes sold: 3
Low: $300,000
High: 1,700,000
Sold pricing was $300k, $355k, and $1.7 million

LAUREL, NY
Total homes sold: 1
$550,000

MATTITUCK, NY
Total homes sold: 15
Low: $160,000
High: $1,250,000
Average sold pricing: $531,933
# homes sold below $399k: 6 (3 sold below $299k)
# homes sold above $399k: 9
Homes sold above $1m: 1

NEW SUFFOLK, NY
Total homes sold: 3
$345,000; $590,000; $800,000

ORIENT, NY
Total homes sold: 5
Low: $518,000
High: $850,000
Average sold pricing: $620,400

PECONIC, NY
Total homes sold: 1
$2,150,000

RIVERHEAD, NY
Total homes sold: 16
Low: $78,000
High: $500,000
Average sold pricing: $223,359

SOUTHOLD, NY
Total homes sold: 32
Low: $269,000
High: $1,550,000
Average sold pricing: $508,437
Homes sold below $399k: 9 (1 home sold below $299k)
Homes sold above $399k: 24
Homes sold above $1m: 1

While the news is following expectations, it’s not all bad. The North fork has its hot pocket- Southold- and has seen more affordable offerings across the board than in recent years.

I would never have guessed, in 2005, that waterfront property could be purchased at well under the one million dollar mark, but more and more, such properties are offered. So, whether it’s an entry level home, mid range, or waterfront, the downward pressure is attracting home buyers, and for that (the home buying contingent) we can continue to be grateful, assured that their choice to buy a home here quantifies the magic of living on the North fork of Long Island.

Remember: if you’re looking for a home on the east end (Hamptons, North fork) buyer agency is available- a balanced transaction benefits all parties involved.

To view East end reo/ foreclosures (Hamptons, North fork) click here.
To view East end (Hamptons, North fork) real estate for sale, click here.

Painting Your North fork, Long Island Home….

September 24th, 2011 category: Real Estate NewsNo Comments »

OK- how much fun is THIS?

Benjamin Moore personal color viewer

Whether you’ve bought, or are selling a home on the North fork of Long Island (or like me, just anticipating winter fever, and wanting an interior change that will help to ignore the cold outside), this is a wonderful tool.

Having been an experimental painter (can’t forget the yellow chosen that ended up neon- not good, and was wasted money to “fix”) it’s a big relief to be able to upload a real room photo, pick a paint, and visually see the paint choice in its entirety.

Samples are so small, and painting a section only, allowing it to dry, then looking at it over and over just isn’t the same as the gratification provided with this tool- and, no messy paint to contend with…yet!

For those selling a home, check out the neutral palette provided. Because “neutral” has changed from stark white over the years, offering a degree of warmth without injecting an overload of “personal preference” might be the way to go.

For anyone looking at houses, how much easier to take a photo of rooms in your soon-to-be home, and play around with colors before moving in!

Whether you are thinking of buying or selling a home, Benjamin Moore has just made any planned transformations easier- now, I need to get back to the saved page for my house, because it looks like the hallway is going to be enjoying a new coat of paint.
Except…won’t that make the other rooms look a bit dated…here’s to a busy winter!

To view real estate for sale on the North fork of Long Island, click here.
To view East end reo homes for sale (this paint tool will be very useful for those seeking a foreclosure on the East end- North fork, Hamptons) click here.

Suffolk County FHA Loan Limits to Shrink in October?

September 15th, 2011 category: Real Estate News1 Comment »

Mini Sub Mini FHA loan limits are set to change.

This change is planned for October 1, 2011.

Whether you are buying or selling a home on the North fork of Long Island, awareness of this change is important.

FHA currently offers financing qualifications that are a bit more relaxed than conventional financing (while maintaining basics- debt to income, job stability, etc.). For these reasons (along with a lower down payment requirement), potential home buyers are increasingly considering an FHA loan as a viable source for financing on the east end of Long Island.

The change for Suffolk county will provide a loan limit of $625,500.00, which is $104,250.00 below the current FHA loan limit of $729,750.

For information on down payment requirements and overall qualifications, click here.

Fannie Mae and Freddie Mac will have the same loan limit applied, unless a decision is made to leave the current limits in place. We’ll keep you updated.

Summer Home Sales Report – North Fork, Long Island

September 10th, 2011 category: Real Estate NewsNo Comments »

91011 PicNik Boat Rather than put up quarterly figures (those will be available in September for 3rd quarter results) we thought that it would be of equal interest to see how home sellers and home buyers fared from June 1, 2011 through August 31, 2011. All figures are provided by MLSLI, and while deemed accurate, no guarantees. This report is for single family homes, and does not include town homes, condos, co-ops or mobile homes.

We hope that you had a wonderful summer…

First up, closed homes from 6/1/2011 through 8/31/2011 by village:
(asking price/closed price)

AQUEBOGUE, NY

31 N. Apollo Dr   $269,000/ $267,500
116 Broad Ave   $289,000/ $255,000
22 Ida Ln   $315,000/ $290,000
153 Linda Ave   $339,000/ $305,000
84 Pine Ave   $349,000/ $349,000
8 Caroline Ct.   $369,000/ $369,000
119 Vineyard Way   $389,900/ $372,000
67 West Ln   $415,000/ $405,000
Lot 6 West Ln   $424,990/ $460,000
31 Wake Robin Ln   $595,000/ $562,000
1 Locust St   $689,000/ $656,000
83 Leafy Way   $1,100,000/ $947,500

Total Homes Sold in Aquebogue for summer 2011: 12
Total Homes Sold in Aquebogue for summer 2010: 17

net & bird BAITING HOLLOW, NY

313 Oakleigh Ave   $349,900/ $334,500
85 N. Woods Rd   $385,000/ $385,000
415 Williams Way   $399,000/ $390,000

Total Homes Sold in Baiting Hollow for summer 2011: 3
Total Homes Sold in Baiting Hollow for summer 2010: 8

CALVERTON, NY

66 Kay Rd $139,900/ $139,900

Total Homes Sold in Calverton for summer 2011: 1
Total Homes Sold in Calverton for summer 2010: 4

CUTCHOGUE, NY

35750 Main Rd $289,900/ $288,000
80 Haywaters Dr $360,000/ $335,000
1185 LIttle Neck Rd $398,500/ $325,000
260 Oak Dr $449,000/ $410,000
865 Country Club Dr $599,000/ $545,000
1500 Mason Dr $675,000/ $677,777
1540 Moores Ln $785,000/ $735,000

Total Homes Sold in Cutchogue for summer 2011: 7
Total Homes Sold in Cutchogue for summer 2010: 10

EAST MARION, NY

4700 Rocky Point Rd $565,000/ $535,000
3940 The Long Way $995,000/ $945,500
15437 Main Rd $2,175,000/ $1,937,500

Total Homes Sold in East Marion for summer 2011: 3
Total Homes Sold in East Marion for summer 2010: 3

GREENPORT, NY

314 Center St $199,000/ $190,000
206 South St $279,000/ $253,000
503 Bailey Ave $329,000/ $329,000
57 Sunset Ln $339,000/ $323,000
331 6th St $395,000/ $395,000
11 Sound Rd $449,999/ $410,000
310 Wiggins St $460,000/ $440,000
152 Central Ave $699,000/ $620,000
920 Beach Rd $770,000/ $700,000
135 Rockcove Ct $785,000/ $745,000
633 1st St $1,599,000/ $1,315,000

Total Homes Sold in Greenport for summer 2011: 11
Total Homes Sold in Greenport for summer 2010: 8

JAMESPORT, NY

20 Holly Tree Ln $315,000/ $300,000
56 Circle Dr $355,000/ $325,000
669 Peconic Bay Blvd $1,875,000/ $1,700,000

Total Homes Sold in Jamesport for summer 2011: 3
Total Homes Sold in Jamesport for summer 2010: 2

LAUREL, NY

445 White Eagle Dr $599,000/ $550,000

Total Homes Sold in Laurel for summer 2011: 1
Total Homes Sold in Laurel for summer 2010: 3

MATTITUCK, NY

248 North Dr $199,000/ $160,000
200 Walnut Pl $329,000/ $298,000
3835 Deep Hole Dr $359,000/ $308,000
600 Legion Ave $389,000/ $365,000
735 Mayflower Rd $439,000/ $439,000
250 Farmveu Rd $479,000/ $465,000
2765 Elijahs Ln $549,000/ $510,000
750 Reeve Ave $589,000/ $579,000
290 Old Field Ct $635,000/ $585,000
5855 New Suffolk Ave $799,000/ $780,000
165 Sailors Needle Ln $899,000/ $875,000
900 Holbrook Ln $999,000/ $850,000
155 Halls Creek Dr $1,499,000/ $1,250,000

Total Homes Sold in Mattituck for summer 2011: 13
Total Homes Sold in Matittuck for summer 2010: 16

NEW SUFFOLK, NY

240 Bunny Ln $599,000/ $590,000
15305 New Suffolk Ave $840,000/ $800,000

Total Homes Sold in New Suffolk for summer 2011: 2
Total Homes Sold in New Suffolk for summer 2010: 3

ORIENT, NY

560 King St   $579,000/$579,000
405 Halyoke Ave   $710,000/ $625,000
1610 Platt Rd   $850,000/ $850,000

Total Homes Sold in Orient. Orient Point for summer 2011: 3
Total Homes Sold in Orient/Orient Point for summer 2010: 2

PECONIC, NY

30653 County Rd 48 $2,295,000/ $2,150,000

Total Homes Sold in Peconic for summer 2011: 1
Total Homes Sold in Peconic for summer 2010: 4

RIVERHEAD, NY

34 Doris Ave $85,000/ $78,000
23 Eight Bells Rd   $219,000/ $195,000
120 Merritts Pond Rd $219,000/ $205,000
1125 Ostrander Ave $229,000/ $210,000
465 Riverside Dr   $239,900/ $210,000
29 Hornpipe Dr $269,900/ $250,000
54 Joyce Dr $289,000/ $265,000
4 Pebble Way $295,000/ $265,000
96 W. Linda Ln $338,750/ $333,756
111 Riverside Dr $375,000/ $300,000
Lot 5 Honey Ln $399,000/ $403,000
7 Kingfish Ct   $524,999/ $500,000
59 Roanoke Ct 525,000/ $483,000

Total Homes Sold in Riverhead for summer 2011: 13
Total Homes Sold in Riverhead for summer 2010: 14

SOUTHOLD, NY

430 Tuckers Ln $299,000/ $269,000
550 Pine Neck Rd   $329,000/ $315,000
250 Bay Haven Ln $349,900/ $320,000
165 Gin Ln   $375,500/ $360,000
245 Budds Pond Rd   $389,000/ $356,000
9135 Main Bayview Rd $399,000/ $375,000
260 Longview Ln   $414,900/ $380,000
845 Corey Creek Ln $459,000/ $430,000
655 N. Smith Dr $460,000/ $425,000
35 S. Bayview Ave   $495,000/ $450,000
2425 MIll Creek Dr   $499,000/ $499,000
10105 Soundview Ave   $499,000/ $460,000
725 Crittens Ln   $499,000/ $455,000
235 Dolphin Dr   $499,000/ $450,000
395 Brigantine Dr   $550,000/ $545,000
57995 Main Rd   $550,000/ $450,000
325 Hortons Ln   $575,000/ $555,000
250 Tuthill Rd   $579,000/ $553,000
1490 Water Terrace   $699,000/ $640,000
739 Old Wood Path   $929,000/ $887,000
1395 Sleepy Hollow Ln   $1,599,000/ $1,550,000

Total Homes Sold in Southold for summer 2011: 21
Total Homes Sold in Southold for summer 2010: 23

TOTAL HOMES SOLD IN TOWNS/ VILLAGES FOR 2011: 95
TOTAL HOMES SOLD IN TOWNS/VILLAGES FOR 2010: 118

AVERAGE SALES PRICE IN 2011: $519,168
AVERAGE SALES PRICE IN 2010: $571,191

Under contract homes on the North fork of Long Island:

For summer 2011, there are 105 homes showing as going under contract 6/1 through 8/31.
For summer 2010, there were 111 homes under contract 6/1 through 8/31.

If you are looking for real estate in Aquebogue, Baiting Hollow, Calverton, Cutchogue, East Marion, Greenport, Jamesport, Laurel, Mattituck, New Suffolk, Orient, Peconic, Riverhead, South Jamesport, or Southold, New York, click here.

If you are thinking of selling your home on the North fork, and would like up to date pricing information, or have general questions, we’d love to hear from you.

How To Find Long Island REO/Foreclosures

June 7th, 2011 category: East End LI Foreclosures, Real Estate NewsNo Comments »

497358_97134822pini My brother called yesterday, and is moving back east, from Alabama to New Jersey. Because he’s aware that we list bank owned properties, he had a simple question: HOW DO I FIND THE FORECLOSURES in New Jersey without paying a fee to a website?

While I’m not familiar with the MLS in New Jersey, the Multiple Listing System of Long Island (MLSLI) is the source for listed bank owned properties on Long Island- asset companies and banks require that all listings be entered into the local MLS by the Realtor assigned the asset.

Unfortunately, there is not a tab that offers a consumer direct access, and searching all MLS properties in order to locate bank owned is frustrating. On our own website, we have foreclosures/reos for the east end (North fork/Hamptons) on a separate feed- one click provides almost all reos on the east end.

Both banks, and asset companies offer properties available for sale on their websites.

If, like my brother, you’re looking elsewhere, and are unable to locate a real estate website with an reo property feed, here are a few go-to sites:

www.homepath.com will show Fannie Mae properties for sale, and often show “coming soon.”

www.homesteps.com will show Freddie Mac properties for sale

www.pasreo.com will show Wells Fargo properties for sale

https://servicing.chase.com/reo/property/FeaturedProperties will show Chase properties for sale

https://citimortgage.res.net/ will show Citibank properties for sale

http://realestatecenter.bankofamerica.com/pages/map-search this site allows you to locate current Bank of America offerings.

While this is a partial list (many banks are offering homes for sale), at the bottom a more comprehensive list can be accessed. For local banks in your area, try googling the bank name, then reo- they may or may not have a property feed.

A few of the larger asset companies providing listed homes for sale are:

www.lps-am.com will show LPS properties for sale (asset company)

http://www.greenrivercap.com/property/Property-Listings.aspx will show Green River Capital properties for sale (asset company)

http://www.reoexperts.net/ will show NRT properties for sale (asset company)

For a great overall source list, we found the following link: http://www.mortgagenewsdaily.com/wiki/REO_Database_List.asp

img_0270-man-pn As long as I’m sending this info to my brother, it made sense to share it with others who find themselves interested in foreclosure/reo homes for sale, but aren’t sure about committing to a monthly fee required by websites…

While we can’t guarantee the accuracy of all property feeds, we’ve found with our own bank property listings that the feeds offered by most banks and asset companies keep their lists up to date. If you have any questions regarding North fork real estate, don’t hesitate to contact us!

Now, if I can just convince my brother that The North Fork or East End of Long Island, New York would work for him as easily as Northern New Jersey would….

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