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The Buyers Didn’t Believe Me!

December 8th, 2010 category: Buyers, Real Estate News, Real Estate Philosophy, SellersNo Comments »

While slow change is occurring, a persistent “bump” is the relationship that east end of Long Island buyers have with the Realtor that shows them homes, and the seeming acceptance on the buyers part that a major real estate purchase is without issue when they engage in a real estate agent that represents the seller.

Untitled With fiduciary to the seller.

I am not talking about a buyer that might call on a sign, and engage with the listing company (although I have wondered, being out of touch here, if the “double end” is re-emerging in areas that used to have a savvy buyer who understood the obvious pitfalls of this move).

What is perplexing to me is the Realtor who elects to engage a buyer, and represent the seller with ALL properties shown, irrespective of the agency providing the listing- in other words, the clear choice of the Realtor to take buyers around, and disclose that they will be representing the SELLER on any choice made by the buyer- no exceptions. Elective SUB AGENCY.

This has me constantly wondering. I guess I wonder because the simplicity of entering into a MAJOR purchase alongside a buyer would kick off the good angel/bad angel sitting on shoulders, and (with the presence of buyer agency- no contract neccessary) eliminate the choice that I will engage a buyers time, their confidence and their most important purchase…while required by LAW (NY agency law) to take any indicators that benefit the seller, and share that info IMMEDIATELY with the seller…as required by NY state agency laws.

Untitled 2 png Sub agency, where it exists, is a detriment to both buyers and sellers (vicarious liability)- yet, there you have it- it’s not dead yet.

Odd, with a fiduciary requirement to the seller, that a listing company would even offer payment for sub agency to a cooperating broker.

I must be missing something, and am fine with enlightenment- but when engaging buyers, there is something really FUN and comfortable with ease and trust, which is offered with buyer agency in New York, and in many, many places.

Honesty/integrity/disclosure/confidentiality with the home buying person that PAYS me (yes, yes, the seller cuts the check, but the FEE is in the price of the house) seemed so natural in my old state, and anything else is just, well…UNNATURAL.

THERE MUST BE A WAY TO GET THE WORD OUT TO NEW YORK BUYERS THAT “THEIR” TIME HAS COME… I wonder how everywhere else got their buyers and sellers CLEAR.

POST 12-7-10 I like happy transactions…with buyers that felt happily covered, and sellers who reached their own goal of a sale…home is a big deal.

Recent buyers, when buyer agency was explained, responded that they simply didn’t believe that a Realtor that would take up their own time finding the best home, and a buyers time finding the best home, would engage in sub agency.

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.

3rd Quarter North Fork, Long Island Home Sales

October 18th, 2010 category: Real Estate NewsNo Comments »

Unbelievable- it’s fall!

Below, please find the latest statistics on North Fork (east end of Long Island) home sales. All data is collected from MLSLI, so while deemed reliable, talk with your Realtor for additional information/confirmation.

Here we go…

3rd Quarter North fork, Long Island homes under contract 7/1/2010 through 9/30/2010

Total sales (closed properties): 94
By Town/Village:
                                        Average sold price:
Aquebogue, NY: 9            $434,711.00
Baiting Hollow, NY: 11 $ 438,382.00
Calverton, NY: 2              $300,833.00
Cutchogue, NY: 5            $799,000.00
East Marion, NY: 3          $504,000.00
Greenport, NY: 5             $454,700.00
Jamesport, NY: 1            $280,000.00
Laurel, NY: 2                   $862,500.00
Mattituck, NY: 14           $862,125.00
New Suffolk, NY: 2          $540,000.00
Orient, NY: 4                   $778,750.00
Peconic, NY: 6                $540,833.00
Riverhead, NY: 9            $211,333.00
S. Jamesport, NY: 1       $820,000.00
Southold, NY: 20          $546,100.00

Median sold price: $576,072.
Average sold price: $445,000.

Number of homes sold below $399,000 on the North fork: 33
Number of homes sold above $1,000,000 on the North fork: 6

Ranches made up 1/3 of homes sold with 22 total, followed by a tie between capes and colonials, with 15 each.

To view homes currently for sale on the North fork/east end of Long Island, click here.
To view REO/bank owned homes on the North fork/east end of Long Island, click here.

Home Sales North Fork/East End Long Island August 2010

September 5th, 2010 category: Real Estate NewsNo Comments »

The following figures are obtained from MLSLI, and are all reported sold properties on the North fork of Long Island for August, 2010. While deemed reliable, the data is not guaranteed.

HOME SALES/CLOSED HOMES AUGUST 2010:*

Aquebogue, NY
Total closed: 3
47 Ida Lane: $379,000
206 Crystal Drive: $396,500
299 Shade Tree Lane: $505,000

Baiting Hollow, NY
Total closed: 4
lot 19 Alfred Ave: $404,8000
100 Donna Drive: $365,000
lot 6 Alfred Ave: $474,870
2746 Sound Ave $860,000

East Marion, NY
Total closed: 2
170 Manor Road: $417,500
815 Rabbit Lane: $605,000

img_2227pn Greenport, NY
Total closed: 2
420 Meadow Lane: $307,000
715 1st St.: $520,000

Mattituck, NY
Total closed: 2
75 Mark Road: $370,000
1235 Luptons Point Road: $650,000

Orient, NY
Total closed: 1
28775 Main Road: $900,000

Peconic, NY
Total closed: 2
95 Arrowhead Lane: $576,000
6315 Indian Neck Lane: $730,000

Peconic River Totem Riverhead, NY
Total closed: 1
235 Longneck: $317,500

Southold, NY
Total closed: 5
865 Ruch Lane: $310,000
1495 Founders Path: $322,500
450 Bayview Ave: $355,000
375 W. Clearview Ave: $365,000
230 Jennings Rd.: $565,000
675 Birch Ave: $ 650,000

*figures represent closed pricing

Average North fork, Long Island closed pricing, August 2010: $493,290
Average North fork, Long Island closed pricing, August 2009: $471,181

We list specific closed properties because providing an “average” for the area isn’t indicative of what the popular price points are- viewing actual individual sales provides specifics.

To view more closed property pricing, go to http://www.mlsli.com/index.cfm, and click on the “sold” property map. Provided will be up to the minute closed pricing,. mapped for your convenience.

To view ALL mlsli properties via our seach feature, click on North fork homes. This tab will bring you all MLS listed north fork/east end of Long Island homes for sale on the MLS.
To narrow your search to east end, Long Island foreclosure/reo/bank owned homes, click on the foreclosure tab, top right.

If you’d like automatic updates on any type of home (condos, foreclosures, single family) for sale on the east end of Long Island (Hamptons, North fork) be sure to sign up on our property search- it’s quick, easy, and will deliver all new MLSLI listings to your email as soon as they hit the MLSLI (multiple listing service of Long Island). Just narrow the search to your specifics, and click!
Your home search has never been easier!

North Fork, LI Under Contract July 2010

August 26th, 2010 category: Real Estate NewsNo Comments »

The following figures (homes reported under contract) were obtained from MLSLI, and are reported under contract homes on the North fork/east end of Long Island for July, 2010. The towns included are Aquebogue, Baiting Hollow, Calverton, Cutchogue, East Marion, Greenport, Jamesport, S. Jamesport, Laurel, Mattituck, Peconic, Orient, Orient Point, Riverhead, and Southold, New York.

For 2010, the total reported homes for sale that went under contract on the North fork are as follows:

Total under contract: 34
Median Listing price: $412,450.
Median Original price: $427,495

Southold, NY homes for sale converted to under contract lead the pack, with a total of 8, followed by Riverhead, NY- 7, and Mattituck, NY, 3.

For comparative purposes, the 2009 figures are as follows:
Total under contract in July, 2009: 38
Median Listing price: $434,000.
Median Original price: $ 442,000

Because these properties closed, the reported closed price median was $395,000 in 2009.

It will be interesting to see what the reported sold pricing was for 2010, however important to note is that each village has its own unique characteristic, so can vary significantly from a neighboring town.
Worth noting is that when figures for SOLD properties in the same locations were pulled, the presence of higher end closed properties on the North fork provided an increased figure for the median sold pricing over 2009.

SOLD HOMES, JULY 2010:37
MEDIAN CLOSED PRICING: $489,000
SOLD HOMES JULY 2009: 37
MEDIAN CLOSED PRICING: $350,000

This data is skewed by a few elements, including a high end property reported twice.
The return to the market of those seeking properties in the one million plus range is encouraging, however for anyone seeking a home on the North fork of Long Island, reviewing specific transactions in your price point of interest will provide the best way to establish market trends.

To view North fork/Hamptons/East end, Long Island homes for sale, click here.
To view North fork/Hamptons/East end REO-BANK OWNED-FORECLOSURE homes, click here.

iphone-pictures-377 Watch soon for August data. I had the pleasure of time “off” to visit my daughter, and her newest addition. Amazing how busy a two year old, and newborn, keep both their mom, and their Gramma, who had an absolutely wonderful (albeit a bit exhausting) trip! August 2010 figures will be published in the first week of August…is summer really nearly over?

Home Sales North Fork 2nd Quarter 2010

July 6th, 2010 category: Real Estate NewsNo Comments »

On the North fork of Long Island, home sales (closed, under contract) have shown improvement over 2009. It should be noted that such improvement is a surface level analysis, as gathered from MLSLI. Absent specifics on each property, identifying exactly what sold (getting more for your money is a likelihood, negating any suggestion that pricing is going up- rather, it may well be that activity has been spurred by getting more for the same dollar) the following is offered to assist in getting a read on things to come:

REPORTED HOMES CLOSED SECOND QUARTER (4/1/2009-6/30/2009) ON THE NORTH FORK OF LONG ISLAND*: 99
MEDIAN PRICE: 356,000.

REPORTED HOMES CLOSED SECOND QUARTER (4/1/2010-6/30/2010) ON THE NORTH FORK OF LONG ISLAND: 140
MEDIAN PRICE: 394,500

UNDER CONTRACT STATISTICS FOR FIRST QUARTER HOME SALES, 2009: TOTAL 99
MEDIAN PRICE: 360,000.

UNDER CONTRACT STATISTICS FOR FIRST QUARTER HOME SALES, 2010: TOTAL 154
MEDIAN PRICE: 368,000.

Because each town/village has variances on the North fork, the following breaks down activity by location for 2010:

2010 pricing by town (# sold/median pricing) second quarter:

Aquebogue: 13 sold; $310k median price
Baiting Hollow: 9 sold; $370k median price
Calverton: 9 sold; $237k median price
Cutchogue: 7 sold; $590k median price
East marion:1 sold; $410k median price
Greenport: 10 sold; $394,500k median price
Jamesport:8 sold; $397,500k median price
Laurel: 3 sold; $440k median price
Mattituck: 12 sold; $421k median price
New Suffolk:2 sold; $487,500 median price
Orient: 5 sold; $709,500k median price
Peconic: 1 sold; $380k median price
Riverhead:29 sold; $160k median price *includes mobile/manufactured homes
S. Jamesport: 3 sold; $394k median price
Southold: 28 sold; $451,250 median price

If you are looking for a home for sale on the north fork/east end of Long Island, relying on general data is difficult; narrowing down a specific property and establishing pricing in a micro method is the best way to ascertain value.

If you are selling a home on the north fork/east end of Long Island, factoring specific data vs. general data will provide you with a realistic, fast selling opportunity.

To see available MLSLI homes for sale, please click here.
To see available REO/foreclosure homes for sale on the north fork and in the Hamptons, click here.

**data gathered from MLSLI. While deemed reliable, no guarantees. Towns included are identified in this report.

North fork, Long Island Home Sales- May 2010

June 1st, 2010 category: Real Estate NewsNo Comments »

There are reliable spring indicators on the North fork of Long Island- from the emergence of my bed of daisies, to the presence of the bathing gear -clad set who slowly fill up the local beaches with bright umbrellas and children kicking sand all the way to the water, thrilled to try out the latest neon colored aquatic toys. An increase in home sales, from Riverhead to Orient, has also been an anticipated event.

April was an improved month over March, and such upward motion bred the hope that perhaps we’d hit a comfortable higher ground in terms of volume. Spring is the “season”, as many hope to finalize second home purchases for a summer spent on the North fork. Equally present east end, LI home buyers are locals who, having witnessed the significant uptick in housing prices, are now viewing realistic offerings that fit their budgets (and more so, their sense of what reasonable really is). Their appearance made for a strong April 2010 over 2009.

As most paid attention to the tax credit that expired at the end of April, the hope was that such an incentive wasn’t a band aid for a larger problem, but an incentive for many who may well have purchased either way- just, perhaps, an ice breaker- the precursor to whatever normalcy we can now come to expect.

May figures for under contract properties took a dip. From Riverhead to Orient, the total number of under contract properties reported to MLSLI for May, 2009 totaled 37. For May of 2010, that figure was 25.

It will be interesting to see how we fare in June for homes under contract on the North fork.

The North fork, unlike its Hamptons counterpart, has not had the drama (and, we like it that way) of astronomical heights in pricing- followed by a disturbing lull, such as was found in 2009 throughout the Hamptons venue. Rather, the North fork (Riverhead, Jamesport, S. Jamesport, Baiting Hollow, Calverton, Laurel, Mattituck, Cutchogue, Peconic, Southold, Greenport, Orient, and Orient Point) has appeared to weather the market with consistency. While values have experienced a decline from peak suggestive of the economy, sellers responded accordingly, appealing to buyers anxious for value, along with the tax credit opportunity.

The following are town by town homes under contract for May, 2010:

UNDER CONTRACT REPORTED, MAY 2010:

Aquebogue, NY: 3 lot 3 cedar cove: $384,990, 28 Pine ave: $660,000, 267 Peconic Bay Blvd: $1,494,876 **list- not sold pricing for all towns/villages. Multi List Service of Long Island**

Baiting Hollow, NY: 2 54 beach hill, $159,999; 2011 Sound ave: $328,888

Calverton, NY: 2 36 Gerald St, $229,900; 259 Parkway Drive: $249,000

Cutchogue, NY: 1 710 Old Menhaden Rd., $719,000

East Marion, NY: 1 170 Manor Rd., $429,000

Greenport, NY: 2 1300 7th St. $249,900; 411 4th St. $539,000

Jamesport, NY: 1 86 Smugglers Path $499,000

Laurel, NY: 1 20 S. Oakwood Dr. $625,000

Mattituck, NY: 2 2705 Laurel Way $445,000; 145 Meday Ave $499,000

Orient, NY: 1 1925 Grandview Dr. $989,000

Riverhead, NY: 6 560 Raynor, $119,900; 799 Harrison Ave., $159,000; 613 Roanoke Ave $270,000; 162 Kings Dr., $299,900; Lot 8 Honey ln. $419,000; 9 Plover ct. $445,000

Southold, NY: 3 25 Lighthouse Rd. $729,000; 1035 Calves neck Rd. $1.199.000

HOMES SOLD/CLOSED REPORTED, MAY 2010:

FOR COMPARITIVE PURPOSES, 2010 FIGURES FOR MAY NEARLY EQUAL THOSE REPORTED IN 2009.

2009: 34 CLOSED HOMES

2010: 32 CLOSED HOMES

Aquebogue, NY: 2 89 Josica Ct. $352,980; 77 Fox trail ct. $380,000 **figures represent reported SOLD pricing

Baiting Hollow, NY: 3 54 Beach Hill $159,000; 152 Baywood Drive $370,000; Lot 8 Donna Dr. $420,490

Cutchogue, NY: 3 910 Old Saddle Ln. $439,999; 840 Manor Hill Lane $730,000

Greenport, NY: 3 717 Front St. $290,000; 317 South St. $300,000; 432 1st St. $485,000

Jamesport, NY: 4 251 Washington Ave. $295,000; 224 Washington Ave. $345,000; 73 Timothy Lane $352,500; 86 Smugglers Path $450,000

Mattituck, NY: 3 4105 Wickham Ave $625,000; 1080 Deep Hole Rd. $749,000; 895 Holbrook Ln. $845,750

Orient, NY: 3 920 Cedar Birch Ln. $699,000; 55 Southview Dr. $720,000

Riverhead, NY: 4 324 Raynor Ave. $160,000; 1108 Delores Ave. $171,300; 73 Ellen St. $250,000; 25 Louise Ct. $464,000

S. Jamesport, NY: 1 120 Green St. $210,000

Southold, NY: 6 830 Eds Rd. $350,000; 145 Budds Pond Rd. $342,000; 1980 Nakomis Rd. $447,500; 2155 Jockey Creek Dr. $455,000; 1035 Calves neck Rd. $970,000; 1350 Paradise Point Rd. $2,400,000

Homes under contract/sold represent single family detached- cottages to estates. This report does not include condominiums, townhomes or mobile homes.

If you are looking to sell or buy a home on the East end (North fork, Hamptons) of Long Island, current market data will assist in establishing value. We are members of MLSLI, with all reported data (days on market, closed figures) awaiting your review. Call us if you’d like to sell your home; click here to view available homes on the East end of Long Island.

Options Realty: 631-727-2227

Email: Stark@optionsrealty.com

Laurie@optionsrealty.com

If you’d like to see ALL reported closed sales, go to www.mlsli.com, click on “sold” properties, choose your town, and a map will appear. To locate pricing, click on the mapped properties. It’s that easy!

For your convenience, we’ll be adding that feature to our site soon- stay tuned!

East End, Long Island Real Estate

May 11th, 2010 category: Real Estate NewsNo Comments »

Clam Bake Water As a real estate company on the east end of Long Island (Hamptons, North fork) that has been viewing the real estate market *as we now know it* with caution, it was very refreshing to find the following assessment offered by a “local” real estate participant- Michael’s link is at the bottom of this post.

With reports touting (did they, really?) “The market is back! The bottom has been reached!” for the last year, reading a really honest assessment of the challenges faced by east end, Long Island sellers and their confused partners (buyers) was a refreshing perspective that we’d like to share.

True: the forecast (do we believe “forecasts?”) seems to be that interest rates will be rising.

For investors, a rise in interest rates creates this scenario: such a move will depress pricing FURTHER, as it eliminates market participants (buyers)- wait it out, this whole thing- prices will drop FURTHER.

While there is no doubt validity in that perspective, the other side of the coin, for those seeking A HOME that will be a place to LIVE for the next five to ten years, SO WHAT? Pricing on the east end has dropped anywhere from 20% to a reported 35% from the pretend *and it was, in hindsight, pretend* GLORY DAYS.

How long, with a family to raise, or a retirement to plan, does one wait out another 5%, give or take? Will pricing drop another 30-40%? If so, no one to date has made that forecast…but do we know for sure? NO.

Will prices rise for east end, Long island homes over the next 2-5 years? We don’t think so, but some disagree.

At what juncture does “a home because I love it” supercede “if it’s not a good investment, I’ll rent?”- only the person paying the mortgage can respond with authenticity.

If interest rates rise as predicted, we agree that the waiting period for a purchase (if a buyer is financing, waiting for further drops) has been erased *poof* as quickly as such rates increase. So, the question becomes: IS IT TIME TO BUY A HOME ON THE EAST END OF LONG ISLAND?

Do your homework, or hire someone to do it: check the number of distressed properties that threaten your area of interest, creating a potential price drop; look carefully at the asking price of a home (particularly in the Hamptons, where properties are routinely overpriced, hoping for a NYC sucker with a big fat bonus) and CHECK CLOSED SALES. Not three month old public record sales, but LAST WEEKS closings.

We enjoyed the blog that can be found HERE, and hope that you do, too!

Oh- and if real estate companies used an MLS in the Hamptons, you could check out the closed pricing from yesterday, right this minute- just sayin’.

To view homes for saleon the east end (Hamptons, North fork) of Long Island, click here. To view REO/bank owned/foreclosures for sale on the east end of Long island, click here.

To view homes that have closed on the North fork of Long island very recently, click here, and then check off your town of interest- sold homes that have closed as recently as yesterday will appear, with sold pricing available.

Short Sales, Foreclosures, and Your Credit Score

April 18th, 2010 category: Real Estate NewsNo Comments »

As the East end of Long Island (north fork, Hamptons, NY) sees an increase in homeowners missing house payments, or selling short (owing more on the loan balance that the market will bear) a question that has floated around for the last few years is this: HOW does this impact my credit (short sale, foreclosure, deed in lieu of)?

Due to the magnitude of mortgage problems faced by many homeowners, it’s taken some time to receive information on credit ramifications for the various alternative choices that homeowners have available for consideration.

An article found here offers some clarity.

VantageScore is, according to Kenneth Harneys article, a joint venture created by Equifax, Experian and TransUnion, and carries it’s own “score” for consumers.

FANNIE MAE has brand new parameters outlining credit implications/re-establishment, which can be found here.

Stirling Harbor To determine if Fannie Mae owns your loan, simply click here, and you can find out in seconds- if the goal is to remain in your home, all HAMP guidelines are ready to view.

To view HAFA alternatives, click here. There are recent changes to all programs, as the government seeks to mitigate the mortgage MESS.

Please read ALL of this if you are mired in a downturn that has resulted in choices- while initially confusing (HAFA,HAMP,FANNIE MAE, FREDDIE MAC, ETC.), your lawyer, accountant and real estate agent will assist in the method of your choice- awareness of alternatives is essential.

Whether you are considering alternatives that might help you stay in your home, missing payments for the short term, selling your home as a short sale, or contemplating the impact that a short sale, foreclosure or bankruptcy might have on your credit opportunities, all of this is must read.

Always consult your accountant and lawyer before making decisions for which clarity is sought, but for those wondering, insight is provided from the VantageScore study, along with the Fannie Mae/HAFA sites linked above.

In a real estate market that is nothing short of a moving target, staying on top of your mortgage choices in all scenarios should be an ongoing effort- your future choices depend on what you decide now.

If you are considering none of the above, and just landed on the site to view homes for sale on the East end of Long Island, click here for east end, Long Island properties!

To view a current offering of east end (north fork, Hamptons) REO/foreclosure properties, click here.

FIRST QUARTER NORTH FORK, LONG ISLAND HOME SALES

March 30th, 2010 category: Real Estate NewsNo Comments »

In like a lion, out like a lion- let’s hope that home sales on the East End / North Fork of Long Island continue to roar back to life!

The first quarter of homes sold on the north fork (Riverhead, Baiting Hollow, Calverton, Jamesport, S. Jamesport, Laurel, New Suffolk, Mattituck, Cutchogue, Peconic, Southold, Greenport, East Marion, Orient, and Orient point) increased in volume over the first quarter of 2009 by 25%. In 2009, there were a total of 54 homes closed. This is eclipsed by a total lf 68 for the first quarter of 2010.

Want more good news? The mean, or average sales price in 2009 for first quarter closings stands at $469,746. The mean sales price in 2010 is $495,931.

The median sales price for 2009 was $392,495. The median sales price for 2010 in the first quarter is $402,500.

Recovery? Bottom hit? Time will tell, but signs point to a far healthier real estate environment than was found in 2009. Increased activity and an increase in closed pricing is a sign that buyers are out, and if they’re finding value, are taking action. What must be noted is that the North fork of Long Island has seen a drop of significance in overall pricing, so east end home buyers are getting more for $402,500 than could be had in the past. Home sellers on the North fork are pricing properties RIGHT, as can be found in the decrease of discount from listed price to closed pricing. In 2009, the difference was 10.17% on average; the average for 2010 in the first quarter is 7.6%.

Below, a rundown of closed properties on the North fork.

AQUEBOGUE, NY JANUARY 1-MARCH 31, 2010:

1 CLOSED: 116 SHADE TREE LANE $239,000

AVERAGE CLOSED PRICING AQUEBOGUE: $239,000

BAITING HOLLOW, NY JANUARY1-MARCH 31, 2010

2 CLOSED: 96 EAST MEADOW ROAD $420,000; 1849 SOUND AVENUE $515,000

AVERAGE CLOSED PRICING BAITING HOLLOW: $467,500

CUTCHOGUE, NY JANUARY 1-MARCH 31, 2010

10 CLOSED: 16495 COUNTY RD $225,000; 4520 PEQUASH AVE $365,000; 110 OAK DRIVE $410,000; 4030 STILLWATER AVE $490,000; 1530 S. NEW SUFFOLK ROAD $540,000; 2650 NASSAU POINT ROAD $628,000; 2410 BRIDGE LANE $750,000; 3850 NASSAU POINT ROAD $740,000; 800 DEPOT LANE $750,000; 4875 WUNNEWETA RD $755,500

AVERAGE CLOSED PRICING CUTCHOGUE: $565,350

EAST MARION, NY JANUARY 1-MARCH 31, 2010

1 CLOSED: 275 MARINA LANE $592,000

AVERAGE CLOSED PRICING EAST MARION: $592,000

GREENPORT, NY JANUARY 1-MARCH 31, 2010

5 CLOSED: 73355 MAIN ROAD $190,000; 535 3RD ST. $329,600; 506 WIGGINS ST. $350,000; 2405 BAY SHORE $680,000; 2500 SOUND DRIVE $1,450,000

AVERAGE CLOSED PRICING GREENPORT: $599,920

JAMESPORT, NY JANUARY 1-MARCH 31, 2010

5 CLOSED: 2 6TH ST. $185,000; 18 ZIEMACKI LN $250,000; 34 TUTHILLS LN $345,000; 703 HERRICKS LANE $695,000; 23 PHYLLIS LANE $1,170,000

AVERAGE CLOSED PRICING JAMESPORT: $529,000

LAUREL, NY JANUARY 1-MARCH 31, 2010

1 CLOSED: 2074 MAIN ROAD $335,000

AVERAGE CLOSED PRICING LAUREL: $335,000

MATTITUCK, NY JANUARY 1-MARCH 31, 2010

7 CLOSED: 1570 FACTORY AVE $200,000; 2740 SOUNDVIEW AVE $340,000; 610 STANLEY RD $350,000; 2350 REEVES RD $380,000; 5750 ALDRICH LN $479,000; 4205 BREAKWATER RD $640,000; 140 BAILIE BEACH RD $790,000

AVERAGE CLOSED PRICING MATTITUCK: $454,142

NEW SUFFOLK, NY JANUARY 1- MARCH 31, 2010

2 CLOSED: 430 OAK RD. $579,500; 145 FRED ST. $629,000

AVERAGE CLOSED PRICING NEW SUFFOLK: $604,250

RIVERHEAD, NY JANUARY 1- MARCH 31, 2010

15 CLOSED: 33 OSPREY AVE $59,900; 47 SIGAL AVE $72,000; 420 FLANDERS RD $95,000; 27 EIGHT BELLS RD $90,000; 32 GROVE ST $120,000; 40 SIGAL AVE $152,000; 147 LAKE AVE $190,000; 215 EAST AVE $210,000; 16 PINE CT $230,000; 1661-5 OLD COUNTRY RD $259,700; 897 POND VIEW RD $254,000; 446 MARCY AVE $247,500; 1070 OSTRANDER $295,000; 61 KINGS DRIVE $335,000; 375 SOUND SHORE RD $426,000

AVERAGE CLOSED PRICING RIVERHEAD: $202,406

S. JAMESPORT, NY JANUARY 1-MARCH 31, 2010

2 CLOSED: 127 GREEN ST. $385,000; 44 WILLOW ST. $395,000

AVERAGE CLOSED PRICING S. JAMESPORT: $390,000

SOUTHOLD, NY JANUARY 1-MARCH 31,2010

17 CLOSED: 46660 MAIN ROAD $325,000; 8150 SOUNDVIEW AVE $330,000; 750 LIBERTY LANE $370,000; 345 BUDDS POND RD $377,000; 1065 JASMINE LANE $350,000; 1720 LEEWARD DRIVE $460,000; 13530 SOUNDVIEW AVE $515,000; 400 TOWN CREEK LANE $600,000; 1300 GIN LANE $465,000; 665 GOOSE CREEK LANE $575,000; 800 MID FARM RD $620,000; 915 RUCH LANE $610,000; 2575 GLENN ROAD $670,000; 275 SLEEPY HOLLOW LN $703,000; 1255 WATERVIEW DRIVE $720,000; 3400 LIGHTHOUSE ROAD $1,475,000; 290 RED FAWN RD $1,500,000; 275 WATERSEDGE WAY $1,510,000

AVERAGE CLOSED PRICING SOUTHOLD: $716,176.

ORIENT, NY JANUARY 1-MARCH 31, 2010

1 CLOSED: 2605 ORCHARD STREET $937,500

AVERAGE CLOSED PRICING: $937,500

IT GETS EVEN BETTER… the under contract figures for the first quarter of 2010 total 95; the under contract figure for 2009 stood at 60. That’s a 30% increase in contract activity year over year.

A NOTE ABOUT “AVERAGE PRICING”: AS YOU CAN SEE FROM THE DATA GATHERED, AN “AVERAGE” IS OFTEN IRRELEVANT, TO THE EXTENT THAT A FEW LARGE CLOSINGS ALTER THE TYPICAL VALUE IN A GIVEN AREA. WE PROVIDE IT FOR THE PURPOSE OF INFORMATION, BUT NOT FOR A COMPARATIVE ELEMENT. ALL NORTH FORK VILLAGES OFFER A WIDE VARIETY OF PRICING LEVELS; TO SEE THE AVAILABLE HOMES ON THE NORTH FORK, CLICK HERE.

Are we out of the woods? It’s all relative- relative to 2009, we can certainly enjoy the fact that lower pricing, along with available mortgage opportunities, has created a far better real estate environment for both buyers and sellers.

ALL INFORMATION GATHERED FOR THIS REPORTS WAS OBTAINED FROM THE MULTI LIST SERVICE OF LONG ISLAND. MLSLI DATA IS DEEMED RELIABLE, BUT NOT GUARANTEED. FOR FURTHER INFORMATION, CONTACT YOUR REALTOR.

Another picture of the beach

iPhone Property Search

March 19th, 2010 category: Buyers, Real Estate News2 Comments »

MLSLI has recently announced a great new way to access all MLSLI property listings on the East end of Long Island (homes for sale in the Hamptons, NY, and on the North fork of Long Island) with their new IPhone application.If you’re driving the area and see a home for sale, you can now access the property on your Blackberry or iPhone- just visit http://mlsli.mobi for details.