Archive for the 'Riverhead Real Estate' Category

North Fork Real Estate Market Report

March 2nd, 2008 category: Real Estate News, Riverhead Real Estate, Southold Real EstateNo Comments »

HOMES UNDER CONTRACT ON THE NORTH FORK OF LONG ISLAND, NEW YORK FROM JANUARY 1, 2008 THROUGH MARCH 1, 2008: *THESE FIGURES DO NOT INCLUDE CONDOS/MOBILE HOMES/SEASONAL COTTAGES.

The following information was obtained from MLSli. While deemed accurate, entries are provided by outside participants.

Want a whole lot more info? Click to our homepage, and then click on the MARKET SNAPSHOT (lower right). Graphs, colors, and information providing a detailed view of the North Fork.

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The 2007 Home Sales Wrap-Up for Riverhead, New York

January 16th, 2008 category: Real Estate News, Riverhead Real EstateNo Comments »

For those considering buying or selling a home in Riverhead, New York, the information below is intended to assist.

RIVERHEAD, NEW YORK: MARKET REPORT FOR 2007

DETACHED HOMES SOLD and CLOSED IN 2007 BY PRICE POINT*

Price range: $150,000. TO $250,000
NUMBER SOLD: 9

Days on the market average: 91
2 STORY:1
RANCH:5
“OTHER”:1
MOBILE HOME:2
# OF HOMES CURRENTLY FOR SALE:14

Price range: $251,000 TO $350,000
Number SOLD:24
Days on the market average:119
2 STORY:11
RANCH:12
MOBILE HOME:0
“OTHER”:1
# OF HOMES CURRENTLY FOR SALE: 29

Price range: $351,000 TO $450,000
Number SOLD:17
Days on the market average:117
2 STORY:8
RANCH:6
“OTHER”:3
# OF HOMES CURRENTLY FOR SALE: 38

Price range: $451,000 TO $550,000
Number SOLD:10
Days on the market average:218
2 STORY:8
RANCH:2
#OF HOMES CURRENTLY FOR SALE:36

Price range: $551,000 TO $700,000
Number SOLD:6
Days on the market average:214
2 STORY:6
RANCH:0
# OF HOMES CURRENTLY FOR SALE:28

Price range: $701,000 AND ABOVE
Number SOLD:1
2 STORY:0

RANCH:1
# OF HOMES CURRENTLY FOR SALE: 5

*statistics gathered from the MLSLI.

This report is intended as a “snapshot” of 2007 results for those considering selling or buying in Riverhead, New York. To receive updates, return to our home page, and view the “market snapshot” on the right lower side. You will be provided with the most current information. Or, call us at 631-727-2227 to get a specific price range for your home. We’re happy to help!

Stay tuned in the next few days for updates on: CALVERTON, BAITING HOLLOW, AQUEBOGUE RESULTS. They will be posted shortly for your review. Greenport, Southold, Cutchogue, Mattituck, Laurel, Peconic, and Jamesport to follow. If you’d like an early copy, email us, and we’ll email the results, or call today: 631-727-2227.

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Retirement Condos- North Fork, Long Island Report

December 30th, 2007 category: Real Estate News, Riverhead Real Estate, Southold Real Estate2 Comments »

Best wishes for a healthy and peaceful 2008!

In the interest of those looking for condominiums on the North Fork of Long Island, the following is a market report, with information obtained from MLS Long Island www.mlsli.com. Consult with your real estate agent to confirm figures and receive the most current information. We are in a changing market.

Aquebogue, New York condominium sales Jan. 2007- Dec. 2007 BY COMMUNITY:

Silver Village: 2 sold; average price: $494,000. One 3 bed/2 bath; one 2 bed/3 bath. Common charges for this community are in the $223/month range. There are currently 4 homes available, ranging in price from $365k to $485k.

Baiting Hollow, New York condominium sales Jan.2007-Dec.2007 BY COMMUNITY:

The Bluffs: 5 sold; average price: $409,600. All sold were 2 bed/2bath. Common charges monthly range from $295-314.00. There are currently 12 homes for sale, ranging in price from $299k-479k.

The Knolls: 2 sold; average price: $384,500. Both sold were 2 bed/2 bath. Common charges monthly range from $295-350.00. There are currently 7 homes for sale, ranging in price from $369k-650k.

Calverton, New York condominium sales Jan. 2007- Dec. 2007 BY COMMUNITY:

Windcrest East: 7 sold; average price: $548,400. All sold were 3 bed/3bath. This is a community of independent condominiums- no attached neighbors. Common charges monthly are $211.00. There are currently 4 homes for sale, ranging in price from $589k-619k.

EAST MARION, NEW YORK condominium sales Jan. 2007-Dec.2007 BY COMMUNITY:

Cleaves Point: 3 sold; average price: $840,000. for 2 bed/2.5 bath; $500,000. for 2 bed/1 bath. Common charges range in the mid 500’s monthly. There is currently 1 home for sale in Cleaves Point, offered at $865k.

SOUTHOLD, NEW YORK condominium sales Jan.2007-Dec.2007 BY COMMUNITY:

Founders Village: 5 sold; average price: $374,300.- all have 2 bed/2 bath. Common charges range from $220-240/month. There are currently 2 homes available for $349k, and 345k.

GREENPORT, NEW YORK condominium sales Jan.2007-Dec.2007 BY COMMUNITY:

Sterling Cove: 1 sold; closed price was $699,000. Common charges are in the mid $400’s/month. There are currently no homes for sale.

Pheasant Run: 1 sold; closed price was $350,000. Common charges are approx. $300./month. There is currently 1 home for sale at $429,000.

RIVERHEAD, NEW YORK condominium sales Jan.2007-Dec.2007 BY COMMUNITY:

Mill Pond: 13 sold; closed price averaged $304,500.00. Common charges are approx. $187./month. Closed homes had 2 bed and 1.5-2 baths. There are currently 8 homes for sale, ranging in price from $285,000. to $349,000.

Willow Ponds: 3 sold; closed price averaged $320,000. Common charges are approx. $220-280/month. Closed homes had 2 bed and 1.5-2 baths. There are currently 6 homes for sale, ranging in price from $369,900. to $525,000.

Stoneleigh Woods: there are currently 2 homes for sale, priced at $365k and $375k. Common charges are approx. $250/month. The home has 2 bed/2.5 baths.

Sunken Pond: 5 homes sold; closed price averaged $361,700. Common charges are approx. $260/month. Homes sold had 2 bed/2-2.5 baths. There are currently 3 homes for sale, priced from $350k-410k.

Saddle Lakes: 4 homes sold; closed price averaged $459,500. Common charges are approx. $280./month. There is currently 1 home for sale, priced at $395k.

We’d love to help you with your second home/retirement plans. Contact us: stark@optionsrealty, or call 631-727-2227 for additional information on all retirement/second home possibilities on the North Fork!

If you are thinking about selling a condo in the North Fork, we’d love to talk with you. We have interested clients seeking condominium living- let’s talk! Contact laurie@optionsrealty.com, or call 631-727-2227.

HAVE A SAFE AND HAPPY 2008!

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Apollo Falling?

December 16th, 2007 category: Downtown Riverhead, North Fork Neighborhoods, Real Estate Philosophy, Riverhead Real Estate1 Comment »

Condemnation possibilities were announced this past week in Riverhead.

The previous post on this topic has developed into an extended situation that can only now become more stagnant than ever. The Supervisor of Riverhead, Phil Cardinale, received a request from Apollo’s Vice President to begin condemnation procedures.

With this news the continuation of a long, protracted process for revitalization, in this authors opinion, is likely. The lawsuit that Riverhead Enterprises would file could take years to settle. Those types of stops in the condemnation process place the advancement for a reborn downtown into a holding pattern.

John Stefans in his article Apollo offer is rejected, closes his article with a glimmer of hope on the horizon, the possibility of arbitration to come up with a fair price agreeable to both parties.

“Condemnation through eminent domain of seven buildings in downtown Riverhead became more of a possibility Friday when Riverhead Enterprises, owner of the properties, formally rejected an offer by Apollo Real Estate Advisors to purchase them for its sweeping urban renewal project on the south side of West Main Street…Mr. Cardinale said Tuesday he hopes condemnation can be avoided and said he plans to ask both sides to agree to a mutually acceptable third-party arbitrator to arrive at a fair price.”

Was there anything unfair about the Apollo offer that was on the table? More information is needed. I wouldn’t be surprised if Sheldon Gordon and Riverhead Enterprises have an agenda that I do not yet have information on. “Going away” is not something that should be expected of this contingent.

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Snags & Thorns on Main Street Riverhead

December 8th, 2007 category: Downtown Riverhead, Real Estate News, Riverhead Real Estate3 Comments »

John Steffans @ The News Review reported this week that more snags continue to tear into the progress of major revitalization in downtown Riverhead. Riverhead Enterprises (Sheldon Gordon) and Apollo Real Estate Advisors (Richard Mack), Deadlines have loomed before. Click here for the article.

The interesting part of this story to me is how Supervisor Phil Cardinale and the newly elected members of the town council will proceed and intervene. Let’s hope that, for the health of Historic Downtown Riverhead, the Supervisor and Board make decisions based on the growth and revitalization of Downtown.

In the Letter To the Editor section of the aforementioned paper, Marty Stromsten writes…
“It is time for the Town of Riverhead to take back the Suffolk Theatre and revisit the original plan for a cultural arts center that was approved by the Town Board a number of years ago. Something needs to be done to stop the exiting of so many small businesses in the village. Taking the Suffolk Theatre back would be a small price to pay for bring Riverhead back to life.”

 

When referring to the reverter clause in the agreement that the town has with the owner of The Suffolk Theatre, the author’s impatience and frustration derives from the lack of visible improvements in the downtown area of East Main Street inRiverhead. In my opinion, it would be a mistake for the town to act on this reverter clause. That action will only move to dissuade potential commercial investors from coming to Riverhead.

DECISIONS are going to have BE IMPLEMENTED in order to up the pace in this race to save Downtown Riverhead. The longer that the semi-abandoned buildings stand, and crime continues in the area of East Main St., the more obvious the battle to investors and potential homeowners to invest in RIVERHEAD.

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Retiring on the North Fork of Long Island

September 5th, 2007 category: Buyers, Riverhead Real Estate, Southold Real Estate1 Comment »

With the local real estate market slowing and properties remaining available for more time than in the recent past, exploring your retirement options on the North Fork has never been easier. Whether you’re relocating from western Long Island, New York City, or the surrounding tri-state area, there are increasing opportunities to make this thought a reality.

If you’re looking for an over 55 condominium, there are some wonderful opportunities in Southold, Riverhead, Calverton and Eastport (to name a few).

In Southold, Founders Village is a charming enclave of condominiums that offer 1100+ square feet. Built in 1980, these condominiums feature kitchen nooks, full basements, and a great room style. Recent sales pricing/closing indicates that you’ll get a nice value for this location- upper 300’s. Add a pool, walking distance to the town park (summer concerts) and all shopping, and this is a terrific option for someone that wants value, proximity, well thought out floorplans, and simple amenities with a reasonable monthly fee.

Foxwood Village, a community of homes in Calverton, offers a terrific price point for manufactured homes. This community demonstrates the adept planning of the builder (OK, we have some family connections here) by creating a community of ranch plans that offer price VALUE. Starting in the 200’s, this community is beautifully presented, and has been a popular resource for those that want to move “down”, but maintain a high standard of living. An oversized pool, beautiful landscape, and variety of homes offer the discriminating (yet budget conscious) consumer a lovely opportunity to relax in the North Fork!

In Riverhead, Willow Pond offers some interesting exterior design. The condominiums are situated around actual ponds, providing a park like setting. This community offers a small clubhouse, complete with pool. There are several different models, with pricing starting in the high 300’s. The look is “newer”- and a nice opportunity for those that enjoy a Riverhead location.

OK- this next one- I admit it- I fell in love with. There is a community called Windcrest East in Calverton that is just adorable/lovely. This cluster of condos, complete with front porches, beautiful landscaping, and a charming clubhouse, are detached condos. When we visited, there was a gathering at the pool- friends taking a mid-day swim. Flowers were in abundance, planted by people that appear to care very much that their community is welcoming. These homes were built in 2005, and offer nice size- often, three bedrooms. Sizes of these charming homes hover in the 2000+ s.f. range. While offerings are a rarity, pricing falls into the mid-500’s to mid 600’s price range. Pets are allowed; two car garages are included.

In Eastport, just a short ride from the North Fork, WCI Communities is offering an amazing opportunity at Atlantic Shores. This neighborhood has approximately 200 homes, and the clubhouse (and floorplans) are ELEGANT. The floorplans offer master bedrooms on& the main floor, with guest areas upstairs, and in some cases, also on the first floor. If you plan on entertaining, this is a superb community- the clubhouse offers everything imaginable, with elegance at the forefront. The floorplans are two to a building, with two car garages included. While the HOA dues run in the high 400’s monthly, the amenities offer exercise, a pool, card room, billiards, an outdoor pool, and just…elegance. A country club community. Here’s the thing: they are getting low on homes. Call me, to discuss all the details.

THESE ARE JUST A FEW OF THE OFFERINGS FOR THOSE LOOKING TO RETIRE ON THE NORTH FORK.

SO…if you’re thinking of retiring on the North Fork of Long Island (or to a 55+ active adult community) call me. Having worked in the new home environment for many years with some high profile builders, I know what to look for, and would love to help you. Offering plan books, specifications, expectations, etc.- it’s all there for us to find.

GOLF COURSE PROPERTIES, WATER VIEW PROPERTIES, RETIREMENT PROPERTIES…LET’S FIND YOURS!

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The Perfect Real Estate Team!

August 25th, 2007 category: Buyers, Riverhead Real Estate, Sellers, Southold Real EstateNo Comments »

If I were selling a home right now, I’d want above all else, an HONEST ASSESSMENT. Not only an honest assessment, but the convenience, should I agree to the encouragement to get my home market ready, of having handy referrals for handy men. Or, women.

As a very competent and appropriate representative of your asset, my ability to relate and converse (and sell to) your propective buyer is predicated on GETTING IT RIGHT. If understanding that your asset requires the input of others, it’s ultimately (for you) worth it. We have a fiduciary relationship, you and I.

We decided, in our arsenal of ongoing ideas to market a home, to include free of charge, a staging consultation. We love Val at www.staged2sellny.com and she is a part of our TEAM. As a result, part of YOUR team. She’ll offer advice on how to change your home from YOUR home to a home to SELL (different destinations).

Need us to provide you with estimates for any items that you choose to do (paint, handyman work)? No problem- we redid our kitchen, living room, and dining room last year. We were able to meet some good people locally, if it’s not something that time permits for you.

I’d do it myself, but I never get painting right, and really don’t enjoy it. I need a team, and when you list your home with us, you get one.

The climate in which homes enter the market right now requires just a bit more attention, as buyers ponder without action. We are working with home BUYERS, not investors.

Additionally, home buyers have come to expect either a nice discount, or something that APPEALS to them on a level that provides market value for THEM. In order to maximize your value, it’s wise understand that expectations on your side are expected; but the expectations of the buyer is what will sell your home.

So, who’s missing? Ahhhh- the attorney. Here’s what we need, and this perNYstaterealestatelaws is not “legal advice”. We ALL, lawyer included, want COMMUNICATION. You deserve it from us; we deserve it from your lawyer, you deserve it from your lawyer. THERE IS NO TEAM WITHOUT THIS ELEMENT.

Lastly? When your home sells, understand that the dated notion of seller ruling the roost is dead. Not because Realtors wrung its neck, but because the balance shifted. We strongly advise a home inspection prior to listing the home. You need to have an awareness of what may impact your net proceeds before the home hits the market.

So. You have the honest assessment, the ability to get your home market ready yourself or with help, you have an attorney that is reviewing paperwork with respect to all, you have a marketing representative, AKA, Realtor, ready to get to work.


Any questions?
Options Realty: Call us to assist with your home in Riverhead, Jamesport, Calverton, Baiting Hollow, Mattituck, Peconic, or Southold, New York. Your North Fork Realtors.

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A Riverhead, New York Festival Kicks Off A Saturday

August 22nd, 2007 category: Downtown Riverhead, People and Places, Riverhead Real Estate1 Comment »

When people visit our east end of Long Island, whether to consider moving here, or simply for a summer getaway, the offerings are abundant every weekend. This Saturday, we decided to visit the Riverhead Polish Fair. It occurs every year in Polish Town, Riverhead, New York, and it sounded like a fun adventure.

Parking at Riverhead High School, we made our way through the festival, noticing the green lawns of charming homes that are offered in this unique area- while small, their reminder of another period in time is very enticing. The lot sizes are small and easy to manage, and the decorative accents outside offer a warm feeling of cared for homes.

We were delighted at the abundance offered at this festival, and came to understand the large crowds that it draws each year. In addition to watching the Little Miss Polish Festival contest, with little girls adorned in the dresses of their ancestry, we ate…and ATE. The food offerings are amazingly rich, and the smell made it very difficult to pass each station without a good look.

Vendors throughout the festival offered anything from a “fake” designer bag, to those little creatures that fit, one inside the other- the name escapes me, but I love opening each one to discover the littlest wooden surprise. Scarves, sweaters and an assortment of clothing were found in abundance.

Noticing a wind as we finished up our visit, we decided to engage in another favorite activity after the festival- sailing. After getting rigged up, we headed out into the bay- the winds were amazing. In an odd weather idiosyncrasy, it was actually chilly- a welcome respite from the typical summer heat.

And thus, a typical weekend on the east end of Long Island- festivals, tag sales, great food, sailing…makes me wonder how I could live anywhere else!

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SELLERS ON THE NORTH FORK, LONG ISLAND: I WAS LOOKING AT YOUR HOUSE

August 15th, 2007 category: Buyers, Real Estate News, Real Estate Philosophy, Riverhead Real Estate, Sellers, Southold Real EstateNo Comments »

You’ve no doubt heard much about the ACTIONS recommended to appeal to a home buyer- staging, new paint as needed, handyman work, clutter gone. Very important to the process. Remember, though- that is often the SECOND (albeit most important) person to consider.

Sometimes, the prospective buyer is my client. The result of
this is an initial narrowing down via MLSLI (the Multiple Listing Service of Long Island). As it is a preliminary search initially to get a “feel” for what the buyer might desire, it is incumbent upon me to provide nice homes so that the buyers trust my judgement.

Tonight, I searched the mlsli, and have selected a few properties to add to a list that is being emailed to the client. The properties have been viewed only in pictures, so let’s start there. In the interest of time, properties without multiple photos generally get a cursory glance, but are revisited after seeing homes of interest that have multiple photos. Because there is a fair amount of inventory, if my list is complete before the revisit, it will be reconsidered after we’ve seen houses that have shown me MORE- it’s much easier to narrow down with photos.



Another consideration is the exterior photo. You’ve heard it
before, but it really does MATTER in the initial stages of a search. It again provides me with the opportunity to take an initial meeting with someone and complement it with properties that, at least from the outside, offer some kind of charm. When I’m in a certain price range, with only photos to go by, the limitations are obvious. Unfortunately, looking at all of the houses on an initial visit with a buyer is not realistic (or wise). As a result, anything with less than an average street appearance may fall off the
list; a house with a cared-for look will be at the top.



The next step is setting up a “preview” of the selected homes, to determine if I missed something important. This comes from having once, early in my career, brought people that desired a lush yard to a perfect home that had nothing but rocks, little pebbles, landscaping both front and back. Not good.

The preview part involves taking a look at showing restrictions. If I have a few extra houses on the list, the first tossed from the initial appointment with the buyer will be those that have stringent and limited showing ability. Remember, we have (at this initial meeting) limited time to develop a mutual decision about whether we will be comfortable with one another, the buyer and I. Hassles with showings create an issue that often doesn’t need to be present- I value their time, with limited opportunity to prove
it.

The initial preview will be short and painless- just a quick look around, making mental notes about what to talk about with the buyer. Knowing the property to the extent of having seen it is a huge help. There is also a real effort, always, to value the time of the seller and be prompt- this could be the seller that will provide the house for my buyer.

While most sellers have a good feel for what a buyer is looking for, know that
there are additional considerations when you are selling a home on the North Fork of Long Island. Hopefully, this provides some information on what goes through the head of a buyer’s agent- and assists you in understanding the process just a little bit better.

When a good fit between the buyers, the market, and ourselves occurs, additional properties will be presented as needed. Rather than offer any limiting factors, after our initial meeting I will have a good indication of what to
search for, should the buyer not make a decision during our initial visit. The criteria may be adjusted, and at that point…THE SEARCH IS ON!

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WELCOMED CHANGE IS HERE…DO YOU “GET IT”, NORTH FORK REALTORS

August 10th, 2007 category: Buyers, Real Estate News, Real Estate Philosophy, Riverhead Real Estate, Sellers, Southold Real Estate1 Comment »

A Note To North Fork, Long Island Realtors…

On Behalf Of The Home Buying and Selling Consumer: fiduciary duty: a trustee’s responsibility to act solely in the best interests of the owner or beneficiary of the trust.*

As a professional Realtor, this definition is a large part (in our opinion, the core) of your willingness to partake in the the advantages of being a part of a larger network of real estate professionals that choose to utilize the MLSLI, and separate yourselves from being a “real estate agent.”

When joining the Long Island Board of Realtors, one of the advantages is the ability to share your listings with all other Realtors, hugely increasing the possibility of locating a buyer for the property. In the interest of the buying and selling consumer, this is an advantage that cannot be ignored- it is in THEIR best interest, and as a result, provides the security for them that you are, indeed, up to the task of fiduciary.

ARE YOU, REALLY? This question is not posed to insult; rather, it is posed to provoke thought on the part of those Realtors that find themselves new to the MLSLI/Long Island Board of Realtors, and brand new to the expectations that are GREATER than the expectations that have been acceptable in the North Fork for too many years by local brokers of real estate companies.<

The challenge is larger than most can imagine for the North Fork Realtor. You likely work for a broker that eschewed the practical reasons to utilize the MLSLI service for YEARS, creating a disadvantage for the home selling consumer, in direct opposition to the new direction and requirement to put YOUR FIDUCIARY responsibility with your clients at the forefront. You’ve learned that “getting both ends” of the commission is better, somehow- a very poor bit of advice for a Realtor in our opinion, but common practice for a real estate agent in the North Fork.
If you’ve found the MLSLI to be an advantage for your consumers, PLAY STRAIGHT. It’s simple: LEARN ABOUT THE RULES, AND FOLLOW THEM TO THE LETTER. Use your own common sense, get all houses in the MLSLI immediately (as soon as the house is ready) and look FORWARD to the calls for showings. FORGET ABOUT COLLECTING BOTH SIDES OF THE COMMISSION. If it happens, it’s (opinion) problematic. Here’s WHY:

BUYER REPRESENTATION IS UPON US. IT’S ABOUT TIME, NEW YORK. Homebuyers in New York, unlike the majority of the country, have essentially been “on their own.” Your participation in their purchase has been merely a conduit- nothing more, as long as your allegiance was with the seller. THIS IS NOT THE CASE IN MOST STATES. In fact, it is the case in only a tiny handful- the rest of the country jumped on board with enthusiasm YEARS AGO, recognizing that allegiance to the consumer, regardless of which side of the fence their needs fell on, required specialized attention to the details of the transaction from the consumer perspective. FIDUCIARY- it’s now your JOB. Disclosure requirements came about for a very good reason- learn about this here.

As representatives in the real estate community serving the consumer, embracing changes (rather than the ongoing battle on the east end to do things “our way”) has no place in today’s real estate venue. It is the opinion of Options Realty, and innumerable entities outside of New York, that real estate is a CONSUMER AGENDA. It’s not about commission. It’s about doing a job well, providing fairness at all times, and cooperating with others in our field to accomplish a goal: SELLING A HOUSE.

Incredibly, it’s FUN to sell houses in most areas. Because the Realtor contingent takes the outcome of consumer experience with a cooperative understanding of the fiduciary spirit, guess who ISN’T present in most areas? YUP- the attorney contingent. There’s no need, with Realtors that put FIDUCIARY first on both sides. Explain that to a NY attorney, and you’ll get a litany of reasons that their presence is ESSENTIAL, but folks, it’s NOT. FOR NOW, a necessary component in New York. But who knows, with the advent of full understanding of FIDUCIARY on both sides of the transaction, it may reach the point, where it has in the majority of the country, that consumers may opt NOT TO INVOLVE an attorney, because the representation that they are receiving from the agents on both sides is stellar. Now, wouldn’t THAT be nice…

At Options Realty, WE LOOK FORWARD TO WORKING WITH YOU, AND WITH YOUR BUYERS AND SELLERS. Try hard to put FIDUCIARY first, because as participants in your transaction (buying or selling side) we understand and respect your position with your clients. Once it becomes habit to be “in your client’s shoes”, everything falls into place. Those that just “don’t get it” will be reported often enough to be GONE. JUST OUR OPINION at Options Realty…

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