We have a friend who happens to be, along with his band partner, an excellent musician, performing as the Earthtones on the North fork/East end of Long Island.

Armed with this information, we decided to visit one of the local vineyards on a Sunday afternoon, just to see what the  Earthtones experience was about.

Weekends offer several "live music" signs in front of the numerous vineyards; we have a musical preference, and had been told that theEarthtones might fit the bill. For those seeking out an afternoon sipping wine and listening to live music, you won't be disappointed.
We aren't wine "tasters"- our interests might be cultivated in that direction at some point, but frankly, the notion of being very unclear as to what we were tasting (in the presence of experts) remains been a bit intimidating.

No worries- wine tasting (other than enjoying a fabulous glass offered by Raphaels) wasn't on the menu!

Listening to classics from Bob Dylan or John Prine was a perfect complement to a great glass of wine- no comments on the texture of the vino solicited!

A few suggestions for those that haven't yet enjoyed the vineyard experience:

Our friends Glenn and Rick are fantastic- we like classic rock, and their offerings were just perfect. The Earthtones offer really, really good listening. The local offerings vary; check ahead to see if the music being offered is in your area of preference.

One doesn't have to be ANY kind of wine expert to enjoy the ambiance of the local vineyards- Raphaels has an interior full of tables, with a bar in the center- no reason to feel intimidated for simply purchasing a glass of wine with which to enjoy the music!

Some of the vineyards  are venues in which it's a "bring your snacks" environment. We entered the area to see a long table, with a group of people enjoying the fabulous music, the local wine, and a huge array of snacks that were brought by them. Call ahead to check their weekend schedule of events.

There was an outside area, along with several tables inside.

I don't know about you, but the vineyards this year may usurp a few days out on the boat. While we love sailing, and bringing a picnic, this experience will remain a "keeper"- full enjoyment of local flavor, absent the time consuming task of getting the boat ready (and, sans our bulldog and min-pin, who force a real sense of guilt on our part if we don't bring them along). Sorry- no dogs allowed at the vineyards!

Live music from the Earthtones, and a great glass of wine in a relaxed, fun environment were exactly what we'd hoped for.

Thanks, Glenn and Rick of the Earthtones, and Raphaels - we loved the music, the wine was wonderful, and we now have a weekend plan for guests that will most certainly include vineyard visiting.

For those interested in a fabulous afternoon, the schedule for the Earthtones can be found below.

Looks like we'll be doing some more wine tasting!

Look for the Earthtones at the following times/locations in June and July:

Sunwaters Restaurant, Dune Road, Westhampton Beach June 20th, 7-10

Route 48 Vineyards, Cutchogue June 28, 2-6

Laurel Lakes Vineyards, Laurel, July 4, 1-5

Clovis Point Vineyards, July 5, 2-5

Laurel Lakes Vineyards, July 18, 1-5

Bedells Vineyards, Cutchogue July 19, 1-5

Will post August as the summer unwinds. Great music from Glenn and Rick of the Earthtones, and a wonderful atmosphere provided by a Raphaels- thank goodness summer is here!

To view Glenn Jochums website go to www.glennjochum.com- lots of "stuff" for music aficionados.

As someone watching the REO side of this real estate market as their partner works through it, I have this observation to make, and solution to offer to renters of foreclosed properties in NY:

Dear Renter,

I watched recently as my partner knocked on your door, and advised you that the home for which you've been paying rent, does not belong to the person COLLECTING your rent. That person quit making payments, and is no longer the home's owner- the bank owns it now.

By the way, your little kids are adorable- what a horror to put them through a move in this circumstance. Here is the bank offer of assistance. They are seeking that you vacate within x days.

WHEN (not if) you call your "landlord" to advise them of our visit, expect them to deny, deny- after all, how else to continue collecting your rent, absent your false belief that there is no bank- "don't worry- my lawyer is working on this. Just send the rent- I'll take care of it."

Their lawyer failed (if they even had one). The bank now owns the house. The former landlord is inviting you into their personal scam to eek out the last bucks from the house that they walked away from.

But, as all successful scammers tend to lie well, don't fault yourself for confusion. Think it through, and when you turn down an offer from the bank to assist your move, understand that your former landlord is GOOD at scamming. Don't let them be good enough to force an eviction at your expense.

If you decide to believe your former landlord, also understand this: there will be hearings. There will be strangers coming by, taking photos of the property for future marketing. There will be a disruption, from the time of your intial notice, to the time that the sheriff shows up to supervise a locksmith who will change the locks- RIGHT THEN AND THERE.

I wonder what your little kids thought, when they were picked up from school and taken to a friend or relatives house. It must have been very shocking never to return "home", but thank goodness they didn't witness the lock change.

Hopefully, you've found an alternative living arrangement. With no "cash for keys" (that offer went away as soon as you declined it), it must be difficult coming up with deposits, etc.

There is no good side to your position in  the landlord/foreclosure scam. There is no good side to taking 20 days to vacate and move, other than the $ assistance offered by the bank- it's never enough.

There is  a worse "not good" side, however, to believing a con artist, and remaining 'til the end.

 Just ask your kids.

Authored by: Laurie Mindnich
May 31st, 2009

The following information was obtained from MLSLI- while deemed accurate, no guarantees.

In order to gain a sense of the market, we bring you monthly sold/closed homes on the North fork/east end of Long Island. For sellers, it’s an opportunity to see what direction things are going; for buyers, if you’re considering a property out this way, it’s need-to-know information.

MAY, 2009 UNDER CONTRACT PROPERTIES:

Total u/c: 38

Median Listing Price: $399k (listed- does not reflect sold price)

Riverhead had the most active sales activity, with 12 contracts. This is in part because this report includes manufactured homes; Cutchogue had a total of 7 properties under contract, followed by Southold (4); Mattituck (3), and Baiting Hollow (3).

MAY, 2008 UNDER CONTRACT PROPERTIES:

Total u/c: 34

Median Listing Price: $469,450 (closed figure)

Riverhead lead the pack last year, as well, followed by Southold, Orient, and Baiting Hollow.

THE GOOD NEWS? While median pricing is lower, activity is keeping pace with last year.

MAY, 2009 CLOSED PROPERTIES:

Total closed: 31

Median Closed Pricing: 350k

Riverhead showed the highest # of closings with 9, followed by Mattituck with 4; Baiting Hollow with 4.

MAY, 2008 CLOSED PROPERTIES:

Total closed: 40

Median Closed Pricing: $475k

A lower figure with closings is reflecting the very quiet Jan/Feb/March on the east end of Long Island.  These figures should see some improvement in volume (not pricing) when activity this month closes over the course of the next few months.

Clearly, prices have dropped, and the forecast doesn’t indicate that we’ll see an increase any time soon. We’ve noticed that waterfront is becoming more obtainable- with continued price drops, it will be interesting to watch the market over the coming months.

If you’re seeking property on the east end of Long Island, we represent the buying side, and will provide all data needed to make an informed decision. Do NOT buy from a listing company (or any real estate agent) representing the seller if your agenda is to uncover the best possible price- you won’t find it.

Call us if you’d like help locating a North fork/East end of Long Island home.

To get more specific local North Fork or East End & Hamptons real estate information, fill out the form below with your questions/comments. We know how to find properties coming on the market, and available. If you’re looking for a foreclosure on any part of Long Island, we’ll help you find it.

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.

While many areas don't permit dual agency and sub agency, some areas do, and it's widely used, and perfectly legal in NY.

For some Realtors, this tradition of "neutrality" comes naturally, and there will be (always) strong defense that "I can do it- my deals always work out fine."

While I believe that most deals work out "fine" (as in, close), what I don't believe is that the interaction with consumers is not without some "niggling"- that uneasy tweak- througout the transaction. Who wouldn't be scared on a tightrope (presuming that full disclosure has been offered, with a full understanding of agency laws)? Even the New York Department of State offers the verbiage, "enter this agency with caution" to consumers.

How to eliminate the "tweak" might be to explain to buyers, when they view a property, that you represent the seller (at that juncture) but that as buyers, they have available to them buyer agency.

This is required stuff anyway; just eliminating the niggles.

If, as might occur (at least, it does out our way) the buyer says, "I hate Realtors, and I don't want one", then it's possible to put in writing that you represent the seller ONLY- and that as a buyer, he/she has no representation. That eliminates a "niggle" in a big way- make absolutely certain that their lawyer has reviewed the agency agreement and signs off. Have your own provide verbiage.

If, as a buyer, they respond to the full agency explanation (each agency reviewed) with a desire to get their own Realtor/fiduciary, so what? More opinionated: GREAT!

If, as a listing agent, your list price is without commission paid, it could truly be considered the seller's expense in its entirety. Absent that, if it's in the listed price, the buyer is picking it up- in a diplomatic effort, they are paying 1/2. Some argue that sellers pay it all; some insist that the buyer pays it all. It's math- I lean toward the latter (but was never good at math).

Going with the theory that  a buyer is paying 1/2, frankly, I don't like to see money wasted, and anything short of representation is wasted money on their part in a dual agency situation. They'll figure it out; why not unearth it for them, with a 30 year financial commitment looming? It seems the respectful thing to do.

We received a really nice email from a client recently (operating under buyer agency) and it occurred to me, as I reviewed dialogue back and forth, that much of what was shared leaned in their favor, so would have been unacceptable under any other agency. Likewise, the seller of the property was receiving equally competent representation from their own agent.

What seems apparent is that full commitment to ONE party offers a whole lot more in way of job satisfaction than a tightrope walk- an opportunity to invest ourselves FULLY in the transaction on behalf of our clients. It's makes the job fun. It engenders loyalty from our buyers/sellers. At the end of the day, we did everything we could think of, much as if it were our own purchase. No froo froo- just facts.

A thought: dual agency elevates the "deal" to a level above the participants.

It may be that I don't like money as much as I like my job with clients. No customers.

Ditto the selling side- there's something about finishing a transaction as if it were your own sale that makes this job more rewarding. But then, like I said, I am happy to PAY to stay off of a tightrope.

Some states have eliminated the fiduciary verbiage; that will probably be an eventuality in NY. Until then, it's really a matter of self-policing our own motivations with dual agency, and our own willingness to leave fiduciary by the wayside.

I hate heights, so that abandonment just doesn't work.

I'm not a "let it slide" person- learned the hard way.

When representing a buyer, were you to submit (as a buyers agent) a seller acknowledgement form, with signatures required from the sellers that indeed, the offer was presented, do you take response at face value?

Recently, we received a returned form, absent the sellers signature, but acknowledging the "back up" position, signed by the listing agent.

My first response was to solve the absence of a seller signature (for the buyer) by sending the incomplete form to both the listing agent, and the seller, for signatures- we have no reason to assume that it's anything more than a paperwork glitch. The seller acknowledgement of an offer was returned, without a seller signature.

I like paperwork completely filled out.

Would you assume the best, and presume that such an action (mailing to the seller for signature forgotten) was appropriate? Just curious.

Sometimes, the stars align and things work out the way that they are supposed to.

In the current venue, it's pretty sad that a deed-in-lieu of foreclosure would offer just such an assessment, but in comparison to a short sale or foreclosure...WHAT A DIFFERENCE.

That a deed in lieu of foreclosure is limited to ONE mortgage (as opposed to the "norm" of a big fat second) creates poor odds, but what a better way for sellers to go, if they are able.

While a deed in lieu of foreclosure can present the possibility of a deficiency  in much the same way that a short sale can, it can also be negotiated away, as lawyers in NY often do for sellers of distressed property here.

Here's the thing that occurs with a deed in lieu of, vs. a short sale: the sellers, under enough stress, are able to WALK AWAY. Close the chapter.  Additionally, the bank is able to get the property on the market with an REO company within a few months...as opposed (in NY) to a year or two.

While it feels much like "picking your poison", checking to see if a lender accepts D's ILO is a worthwhile endeavor for a home seller. The time in a financial abyss is cut short, and while credit may be wrecked in much the same way that a short sale impacts credit, the ability to GET OUT is compelling.

There is no income for a real estate agent that encourages a deed in lieu of foreclosure. This action does, however, speed up the disposition of the property, getting it out of the landscape more quickly.

At least in NY, where it's often two years for a property to find it's way to foreclosure, this is an avenue that should be among the suggestions of Realtors working for distressed sellers.

Let me begin by saying that I'm relocated from Colorado to NY, so am (while not in a fetal position anymore) still perplexed with east end Long Island real estate sometimes- six and one half years later.

In my area of Long Island (the east end), it is often spoken that some sellers prefer to have an "exclusive" listing, as opposed to a listing placed in the area MLS. It is, according to the real estate people (I can't say "Realtor"- I pay for the moniker. They do too, but somehow, it isn't working for my dues), "what the sellers want."

As much thought as I've given this, my inherent dislike boils down to this: in addition to being a detriment to the best interest of the seller, it is an undermining of Realtors in way that is deeply offensive.

When a Realtor sells the benefits of the MLS, they are selling the benefit of the real estate community as a WHOLE. Frankly, in the current environment, this seems like a good objective.

 My area is adjacent to one in which listings are not entered into the MLS- the majority are not there.

For the life of me, I can't figure out how the word, or concept, "exclusive" is in any way a connection to "sell my house." Do sellers really say, "Please, I don't want other real estate people with buyers in- but get me this price- but do it with just a few other agents, not too many, OK?" ??

In the absence of an MLS, we'd all manage, but in this market, is now the time for consumers?

Sellers...or buyers (no readily available comp info)???

"Selling" the MLS is encouraging the seller to engage with a real estate community anxious to sell their home- simple.

When I was employed by a national builder, one of the things that occurred in a post sale process was the arrival of the buyer survey, sent out automatically (and typically arriving returned to the builder within 60 days of closing). We received copies of these as they came in.

Some of the areas of comment were the following:

Responsiveness of sales staff

Timely updates on progress

Product knowledge

Each category had sub categories, and room for comments from the home buyer.

While there were occasional surveys with a bit of...attitude, the majority were eye opening, and offered a way to improve on what buyers expected (and received or didn't) as well as keep doing those things that provided a positive buying experience.

In the majority of cases, "responsiveness" and "updates" were the most compelling- if a buyer were under-informed, an entire section of the survey was decimated (as was the subsequent grade). While we didn't relish those responses, it did (for most of us) create an automatic mental  reminder- the corporate office took the responses quite seriously, and a few bad ones created trouble.

It would seem important, as a company involved in real estate, to offer the same sort of "outlet" for clients, to be filled out (or not) post- closing. With the market changing so dramatically, maintaining an awareness of changing consumer expectations would seem imperitive.

While I'm guessing that "responsiveness" will remain the issue of importance to consumers, it might be telling to get a feel for how much else is hoped for now (e.g., finance knowledge, explanation of the buying or selling process itself, expectations met or exceeded in exposure venues, home presentation on the internet, etc).

I'm sure that many of you already engage in a survey system- if, like us, you're thinking about it, it would be great to hear some of the most important areas of response. We don't have "underlings"- we ARE the underlings- so it isn't about pressure; it's more about determining how to meet the expectations of a rapidly changing consumer expectation.

...unless a buyer picks the right real estate agent.

It's truly perplexing to me to see the positive market "spin" offered by many real estate agents, who may be EXACTLY RIGHT, in their market- but the information seems to become diluted with platitudes.

THAT ASSUMPTION NOW HAS TO BE QUANTIFIED.

By "exactly right", an agent must have access to (and comprehension of) local trends, and the availability of properties that take into account the future as we know it- often 15-20% under a specific asking price. Sometimes, more than that.

When buyers peruse blogs, my assumption is that they're seeking specifics- for example, if it's a "great market" or "great time to buy", that statement must be quantified with specific properties that are priced in such a way that makes urgency obvious; lacking that aspect, it simply is not a great time to buy, period, and we look like big fat liars (quite unintentionally).

It seems that many perfectly competent real estate agents provide information that is missing one thing: the proof of their ability to discern a reasonable price, and operate on the buyers behalf to achieve that price. The presence of the ability seek out "the right price" holds a whole lot more value than a simple statement that includes the words, "it's a great time to buy."

These real estate agents are shorting THEMSELVES- a blog is a perfect opportunity to offer reality mixed with a bit of personal panache- while it remains a take-it-or-leave-it proposition, and certainly requires more work, an understanding that the real estate market henceforth WILL require more work can't be ignored.

This blog was compelled by a recent prospective client. That he is high end is irrelevant (but somehow compelling). While he is seeking to buy a property, he has done MUCH in the way of research. There is absolutely no way that this person will work with a "sunny skies" real estate agent, and his entrance into our lives provided an opportunity to BE the company that he chooses, based on market knowledge, fiduciary to his own ultimate purchase, and an effort to offer WHAT IS, to the best of our ability. I like that he's adamant about raising the bar.

While he may well locate someone equally capable of offering reality, at least we'll know  that what we offer to consumers is reality- not our own version of a hoped for outcome full of platitudes.

Besides...that's SO 2007, anyway...

I read with interest an article that suggested that the victim of a short sale would only have that credit impact for nine months.

As opposed to the 7-10 year credit commitment of a foreclosure.

Because that seems pretty short term in ramification (realistically) for a short sale (even with timely payments up until the closing), my digging (which was admittedly contrary in findings, one to the next - NY specific) begged the question: what IS reasonable for a seller to edure from a credit standpoint if the result of their actions unloaded the bank debt, a bit short?

Because the bank made the same error that the home buyer did, a realistic short sale offer would seem the fairest alternative to both. The spending of the bank "bailout" makes me want to suggest that the equitable thing to do would be for the bank to pay the seller for their "pain and suffering", but that ain't happening.

We have NY friends that foreclosed a year ago, and it's not on their credit report yet.

How far down SHOULD a short sale credit score drop, keeping in mind that there are a contingent of people who are managing to maintain their credit despite the economic disaster?

For the moment?

While there will be many transactions absent this element, the numbers are increasing-understanding the process itself is fine up until the point at which I wonder, "how far does a short sale drop a sellers credit score, were the short the only negative factor?"

Which leads to "how much SHOULD it?"