HOMES CLOSED FEBRUARY 2010

CUTCHOGUE, NY CLOSED HOMES:

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

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

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

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

GREENPORT, NY CLOSED HOMES:

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

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

MATTITUCK, NY CLOSED HOMES:

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

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

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

RIVERHEAD, NY CLOSED HOMES:

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

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

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

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

SOUTHOLD, NY CLOSED HOMES:

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

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

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

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

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

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

UNDER CONTRACT HOMES, FEBRUARY 2010

AQUEBOGUE, NY UNDER CONTRACT HOMES:

89 JOSICA DRIVE LISTED PRICE: $359,990

77 FOX TRAIL  LISTED PRICE: $399,990

BAITING HOLLOW, NY UNDER CONTRACT HOMES:

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

LOT 5 ALFRED AVE  LISTED PRICE: $449,900

LOT 25 ALFRED AVE  LISTED PRICE: $499,990

CUTCHOGUE, NY UNDER CONTRACT HOMES:

16495 COUNTY ROAD LISTED PRICE: 240,000

4520 PEQUASH AVE  LISTED PRICE: 415,000

4430 NASSAU POINT RD  LISTED PRICE: 799,000

GREENPORT, NY UNDER CONTRACT HOMES:

717 FRONT STREET LISTED PRICE: 325,000

75 ROBINSON RD  LISTED PRICE: 429,000

JAMESPORT, NY UNDER CONTRACT HOMES: 

224 WASHINGTON AVE LISTED PRICE: 369,000

73 TIMOTHY LANE LISTED PRICE: 379,000 

MATTITUCK, NY UNDER CONTRACT HOMES:

430 KRAUS RD LISTED PRICE: 499,000

140 BAILIE BEACH RD LISTED PRICE; 790,000

NEW SUFFOLK, NY UNDER CONTRACT HOMES:

145 FRED DRIVE LISTED PRICE: 649,900

ORIENT, NY UNDER CONTRACT HOMES:

1565 NORTH SEA DR. LISTED PRICE: 699,000

SOUTHOLD, NY UNDER CONTRACT HOMES:

430 GROVE RD. LIST PRICE: 299,000

8150 SOUNDVIEW LIST PRICE: 360,000

830 EDS RD LIST PRICE: 365,000

750 LIBERTY LANE LIST PRICE: 389,000

345 BUDDS POND RD LIST PRICE: 399,000

3600 PINE NECK RD LIST PRICE: 469,000

460 W. CLEARVIEW AVE LIST PRICE: 489,000

1230 OAK DRIVE LIST PRICE: 555,000

665 GOOSE CREEK LN LIST PRICE: 599,000

800 MID FARM RD LIST PRICE: 665,000

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

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

Share This

Like a growing number of east end real estate sites, Options Realty has signed up for a home search feed that includes all participating members of our local MLS.

Using the feed, once you get the hang of it, is simple. Just be sure to indicate your preferences prior to your search. Looking for condos? Click on “north fork condos”, and read through the choices, beginning with “condo”- when you seek a specific location/town, click on the town, then the “add” tab in the middle. At the bottom, you can narrow further by clicking on “55 and over”, along with other criteria.

The search for single family properties is equally simple: just click on your town(s) of interest (if there is more than one, click each, and hit “add” so that it appears in the second column to the right) and continue with further narrowing down- price point, etc. If you want to view all homes on the North fork of Long Island, no criteria is needed- just click “go” at the bottom.

If your search is simply for bank owned or REO homes on the east end of Long Island, click on the “foreclosure” tab at the top, and you’ll be brought to the same page, but lead directly to bank owned. Because the offerings are limited, simply clicking on “go” without narrowing down will bring you to all bank owned properties on both the North fork, and in the Hamptons.

You can save your preferences; sign up for auto updates (which will deliver your properties of interest directly to your mail), or just check in now and then to see what’s what! Auto updates permit you to have new listings in your area of interest automatically sent to you.

The MLSLI provides this convenient search option, along with any of the participating brokers on the east end of Long Island seeking to maximize their seller’s exposure. This convenient feature permits a sellers property to appear on all participating broker websites, whether that company is the listing company or not.

Happy searching!

Share This

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

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

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

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

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

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

AQUEBOGUE, NY:

38 Vineyard Way $429,900

BAITING HOLLOW, NY:

Lot 4 Alfred Ave. $374,900

148 Williams Way $429,000

CALVERTON, NY:

1407-05 Middle Road $139,900

36 Gerald Street 219,900

CUTCHOGUE, NY: 

16495 County Rd. $240,000

110 Oak Drive $439,900

1640 Sterling Rd $ 529,900

2650 Nassau Point Rd. $686,000

800 Depot Lane $799,000

EAST MARION, NY:

275 Marina Ln. $639,000

GREENPORT, NY:

408 South St. $299,000

307 4th St. $438,888

1000 Sound Dr. $1,195,000

LAUREL, NY:

37 Cedar Ct. $349,900

50 Main Rd. $498,000

MATTITUCK, NY: 

5750 Aldrich Lane $509,900

140 Bailie Beach Rd $790,000

RIVERHEAD, NY:

33 Osprey Ave $59,900

47 Sigal Ave $89,900

1108 Delores Ave $195,000

16 Pine Ct. $241,239

70 Constable Drive $309,900

133 Duryea St. $325,000

136 Trout Brook Ln $335,000

SOUTHOLD, NY:

150 Hobart Rd. $350,000

46660 Main Rd $359,000

8150 Soundview Ave $360,000

750 Liberty Lane $389,000

1065 Jasmine Lane $399,700

1230 Oak Lane $555,000

1300 Gin Lane $599,000

800 Mid Farm Rd. $665,000

125 Lighthouse Rd. $675,000

700 North Parish Dr. $699,000

1255 Waterview Dr. $750,000

185 Willow Point Rd. 1,299,000.

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

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

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

Share This

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

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

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

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

Share This

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

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

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

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

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

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

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

All of the data can be found by clicking here.

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

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

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

Share This

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

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

Share This

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

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

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

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

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

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

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

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.

Share This

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Share This

Of primary interest on the east end of Long Island for second home seekers are changes to second home property qualifications. It would appear that flexibility- even a little- is not happening.

For those seeking a primary home on the east end, changes have been made that may affect your total debt ratio. Under the current guidelines, unless you have a very specific credit score minimum, as well as reserves, verifiable income, and ratios that fall VERY closely within the guidelines, your potential purchase is likely at risk if any of those elements are lacking.

You can find all information here.

Your lender can assist you in navigating these changes- understanding what to expect will be key to a smooth home purchase.

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.

Share This

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

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

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

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

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

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

Share This