Sean's Blog

Classic Car Show - Cutchogue Lions Club

2008-07-03T00:58:42Z

I'm going to repost this, since it is sure to be a big turnout.

The 38th annual event will take place on Sunday, July 6th.

Hosted by the Cutchogue Lions Club, the location will be

at the Capital One Bank Operations Center on the Main Rd. (rt. 25) in Mattituck.

Enjoy the movie from a previous show!

The Cutchogue Lions Club will be hosting a HUGE LOCAL EVENT, the Classic Car Show.

For car lovers all over Long Island, this event brings the best of the best, and offers classic car lovers the opportunity to appreciate the work and dedication present with Classic Car Restoration.

The event will take place on Sunday, July 6th. Please visit the above site for additional details/directions- it's certain to be a fun day for all.

Denise and Greg say, "Hope to see you there!"

Options Realty: Proudly serving the North Fork of Long Island.

The Good Guys Wear a White Hat

2008-05-17T23:21:31Z

Authored by: Laurie Mindnich
May 18th, 2008

On an otherwise uneventful day, I happened to meet a couple visiting our area.

Through the course of our conversation, Jean mentioned that she does embroidery. Interested, because the look of embroidery for logos is so much nicer than a transfer type look, I asked about her specialties.

Mentioning that logos are one of her areas of expertise, she offered to send me a catalogue of items, in addition to a sample of the embroidery of our logo.

I was absolutely shocked when, within a few days, I received a sweatshirt in the mail, fully embroidered and beautifully done, with our logo- I was simply astonished.

THAT was Jeans “sample” for me- a sweatshirt that had PERFECT STITCHING on the flawless logo.

Now completely intrigued, I asked about baseball hats with the logo- we’re having an outdoor party, and want to make sure that the “sphere” exits with Options. Real Estate is a “remember I’m here” business, even with family.

Today, three days after our conversation, I received in the mail the hat pictured above. It’s so gorgeous that I had to photograph it in an artsy way (can you tell how thrilled that I am)?

Without quoting prices, I will mention that these hats are INEXPENSIVE, but look like a MILLION. My next order will include black hats- and there will be a “next” order.

It’s so hard today to experience a business that responds immediately; offers quality at a low price; and clearly takes pride in what they provide to the consumer- and when it happens, the individual responsible often doesn’t know how appreciated the integrity level is. JEAN, AND JV EMBROIDERY, WE APPRECIATE YOU!

If you need anything embroidered, JV Embroidery is located in Hicksville, NY (Long Island). Jean does all kinds of embroidery- it’s terrific (and terrifically inexpensive) for the real estate contingent- hats, visors, t-shirts, etc.

Quality merchandise for marketing never goes out of style.

Whether it’s a single item or a ton, check out the offerings. I can only tell you that I was amazed.

Jean and Vinny, may your business burst at the seams- just not on my orders.

JV Embroidery

45 Charles Street

Hicksville, New York 11801

1-516-827-9209

Oh- and if you’re looking for property in the North fork area of Long Island, give us a call- maybe you can have a hat, too!

photos: copyright 2008 OptionsRealty

Sound Ave. Circa 2008

2008-05-15T23:55:46Z

Authored by: Sean Stark
May 16th, 2008

Sound Ave. Circa 2008, we present 40135 County Rd 48, Southold, New York 11971

Newly constructed in Lineage Craftsman detail and style for the 21st. century.

With finely crafted detail evident, this home presents a wonderful opportunity in Southold on the North Fork of Long Island.

Vineyards, as far as the eye can see, provide a spectacular backdrop when relaxing on the back porch.
With a beautifully landscaped yard also comes a slate fire-pit, perfect for entertaining.

A large country kitchen awaits completion, estimated to occur over the next few months. Bright and sunny, a generous number of windows offer additional vineyard views.

The large family room, open to the kitchen, includes a beautiful brick fireplace, with large windows offering additional light and space, in a room designed for relaxation.

In addition to a formal dining room on the main floor, upstairs offers 3 bedrooms + an office, with a master suite providing additional outdoor living, while enjoying the master bedroom fireplace, located on a charming deck that overlooks the vineyard.

A full basement complements this lovely home.

Go ahead and take a look at all the craftsman details of this property, by clicking here.

Priced at $1,050,000. To see this, or any luxury property on the North fork of Long Island contact us.

Location, Location, Location

2008-05-14T22:17:25Z

This exceptional opportunity offers enormous potential in an upscale neighborhood two blocks from gorgeous Kenney's beach. An impressively long driveway leads to this gem, offering privacy. Across the street, enjoy the peace of Great Pond, with the Long Island Sound offering summer fun, just a short walk away. The sellers have added a new garage, offering its own potential for uses- finish one area for a private study or guest area- you'll still have the use of a full two car garage.

If you are mechanically or artistically inclined, think dream work space for your projects. The original attached one car garage is ready for finishing, affording additional space for a separate family room, or perhaps a master suite. With enormous potential, in addition to a fabulous location, this home is expansion-ready! The sellers have added unique, high quality windows throughout, and completed the outside with vinyl siding.

This home is landscaped professionally, maintaining the "woodsy" feel in the front without obstructing the home itself. A large, sunny kitchen is part of a "great room" layout- the "hot" look of today. With all of the important factors present for someone interested in investing in potential, this home has it.

What it also has is LOCATION, LOCATION, LOCATION...making this a true gem for beach lovers seeking proximity, with an eye toward future expansion. A large deck overlooks the backyard, and the hot tub is included. If you are seeking a home to "make your own", this may be the one- call us today!

See the website itself at www.7720Soundview.com for all the good information on this opportunity.

Stop in for our...

OPEN HOUSE - Sunday 5/18 11-2 PM

38 Home Sales on the North Fork of Long Island in April- Real Estate Market Report

2008-05-02T18:16:58Z

Authored by: Sean Stark

May 2nd, 2008

The following is data collected from mlsli indicating properties that have gone under contract on the North Fork from each village / town and hamlet from April 01, 2008 through April 29, 2008:

Aquebogue NY: 2 sold; $350k*, $469,9k

Baiting Hollow NY: 5 sold; $70k*, $165k*, $409,9k, $479,9k, $519,9k

Calverton NY: 1 sold; $159,9k

Cutchogue NY: 2 sold; $779,7k, $1,399m

East Marion NY: 2 sold; $399k, $449k

Greenport NY: 1 sold; $399k

Jamesport NY: 2 sold; $529,9k, $599,9k

Mattituck NY: 1 sold; $415k

New Suffolk NY: 1 sold; $749k

Riverhead NY: 16 sold; $74,9k, $82,5k, $89k, $119,9k, $155,5k, $180k, $199,9k, $199,9k, $249,9k, $279k, $299k, $299k, $299k, $350k, $379k, $609,5k

Southold NY: 5 sold; $395k, $549k, $1,650m, $13,294m*

For the purposes of this update, “sold” refers to under contract; * indicates “closed” pricing.

For condominium reports, scroll down.

If you are thinking of buying or selling a home in any village/town on the North Fork of Long Island, email us for a comprehensive look at your area- we’ll get right back with you!

images: stock.xchng

Vacation/Retirement Condos on the North Fork of Long Island- April 2008 Report

2008-04-28T21:46:19Z

Authored by: Options Realty
April 28th, 2008

Vacation/Retirement Condos on the North Fork of Long Island- April 2008 Report

The following is an update of condo sales/closings for the North Fork of Long Island April 1-April 28, 2008. Areas reported:

Aquebogue NY

Silver Village: 0 sold; Available: 1- $429,9k

Baiting Hollow NY

The Bluffs: 0 sold; Available: 4- $299k, $449,5k, $499k, $549,9k
The Knolls: 0 sold; Available: 9- $359k, $369k, $375k, $375k, $399k, $399k, $439k, $449.9k, $455k

Riverhead NY

Willow Ponds: 1 sold; Available: 14- $289,9k, $299k, $295k, $299k, $299k, $319k, $329k, $359k, $369k, $399k,$405k, $440k, $445k, $485k
Mill Pond: 1 sold; Available: 4- $282k, $285k, $309k, $314k
Sunken Pond: 0 sold; Available: 8- $345k, $345k, $375k, $390k, $399,9k, $399,9k, $399,9k, $429k
Saddle Lakes:0 sold; Available: 2- $375k, $429k
Stoneleigh Woods: 0 sold; Available: 1- $365k
Calverton, NY
Calverton Hills: 1 sold; Available: 8- $144,9k, $150k, $169k, $195k, $195k, $199k, $199k, $210k,
Foxwood Village (age restricted manufactured homes): 0 sold; Available:13- $169k, $169k, $189k, $197,5k, $219,9k, $225k, $239,9k, $240k, $245,9k, $290k, $310k, $319k, $375k
Windcrest East: 0 sold; Available: 3- $560,9k, $569k, $629k

Jamesport NY

Maidstone Landing: 1 sold; 10 Available: $799k, $845k, $849k, $850k, $869k, $947,9k, $949k, $995k, $1.08m, $1.27m

Southold NY

Founders Village: 0 sold; 1 Available: $374,9k
Main Road coops: 0 sold; 4 Available: $187,8k, $277,6k, $2797k, $279,7k

East Marion NY

Cleaves Point: 0 sold; 1 Available: $849k

Greenport NY

Driftwood Cove (coop): 0 sold; 4 Available:$160k, $170k, $190k, $199k
Oyster Point: 0 sold; 1 Available: $715k
Sterling Harbor: 0 sold; 3 Available: $749k, $795k, $799k

April 1, 2008 through April 28, 2008 results:

Total condos available: 92

Total condos sold: 4

Available condos can be viewed by going to “North Fork Condos”, entering desired location, and proceeding to properties on the MLSLI (multi list service). Click on “more info”, and photographs/details will appear. To view any properties of interest, call or email us:

Options Realty: 631-727-2227

email: stark@optionsrealty.com

All information is deemed reliable, obtained from a third party (mlsli) but not guaranteed.

Photos: 2008 Options Realty - Laurie Mindnich

The MLS on the North Fork of Long Island

2008-04-17T11:21:32Z

Authored by: Options Realty
April 17th, 2008

What is the MLS (MULTI LIST SERVICE), and what does it offer you, the seller of a home on the North Fork of Long Island?

The Multiple Listing Service of Long Island (MLSli) is a service that provides sellers with the opportunity to “share” their property with all MLSli Realtor participants. It is an elective service, meaning that real estate companies can utilize it to expand the reach of your property to all participating agents, or they can decline the service.

There are costs associated with joining the system, and brokers pay fees to join, as well as monthly fees to maintain the service. The price is small, relative to the exposure: the MLSli, and it’s partner site, Realtor.com, have higher site visits by a large margin than any New York real estate brokerage.*

The advantage for LISTING BROKERS is that they know that they are enlisting the help of ALL Long Island Realtors, not just the group in their office, creating a huge advantage for sellers. Knowing that an important Realtor/buyer venue is part of the marketing plan can make the difference between a house that sells, and one that sits.

In addition to reaching local buyers, the MLSli reaches all Long Island buyers, and national buyers. Realtor.com is a national reach, with buyers able to access North Fork properties from anywhere in the country, with photos and details. A great combination- the local MLS and Realtor.com.

When you list your home, your listing agent will likely mention that you will be on the MLSli. You will both decide, with this exposure, what amount, out of the total fee charged by the listing company, you would like to pay a “cooperating broker”. This amount is published in the MLSli for Realtors to view.

The MLSli is often a first stop for real estate agents seeking properties for buyers, and it is possible to email listings, offer MLSli updates, and provide market updates for buyers seeking properties (yours?). For sellers, information regarding sold properties is available in order to correctly price your home relative to market conditions. Daily updates are provided to Realtors, offering them a chance to share both new and existing listings with their buying client/customer. That’s the important part, to the real estate contingent.

While some areas (NYC, the Hamptons) are fighting the inevitable by not viewing real estate as a fully cooperative effort, many sellers are demanding this service due to the huge Internet presence afforded. I’d have to agree. It’s less about “why”, and a whole lot more about “why NOT”? Until a better venue comes along, it’s got the largest reach for sellers, and current info for both Realtors and buyers.

To view MLSli properties, click on the “homes” button, and enter your parameters. To view properties listed on Realtor.com, go to www.realtor.com, and enter the area that has captured your interest.

If you have any questions, please call us at: 631-727-2227 daily, 8-8.

*per stats from Alexa rankings

image “Concert crowd”: Copyright: Milan Klusacek & iStockphoto

Working with Buyers on the North Fork of Long Island

2008-04-11T22:53:43Z

Authored by: Options Realty
April 11th, 2008

SELLERS OF HOMES ON THE NORTH FORK OF LONG ISLAND: YOUR BUYER IS OUT THERE.

While frustration has been, of late, the order of the day for home sellers in general, there are homes going under contract, and there are buyers looking for properties.

The homes that go “quickly” are priced in such a way as to get the buyer to land, with a bit of negotiating on occasion, and a willingness on the part of both buyers and sellers to compromise.

Nationally, we are in a precarious place- with the recent down payment increases becoming common, buyers are educating themselves in impressive numbers, as they decide if things are close to “hitting bottom” in a declining market.

Presentation of your home on the Internet is critical- a single photo on Realtor.com (a spin off of the MLSLI) doesn’t cut it with today’s home buying contingent. Additionally, while exposure on numerous websites has gained ground, there are still hold outs that are not maximizing the exposure needed for your home.

Pricing is tantamount to success- with buyers deciding that a fence upon which to sit is a safe route, offering a home that is accurately priced is still the best formula. Determining this can be tricky, but there are several ways in which to approach the dilemma- not the least of which is to take a hard look at your competition.

While ignoring the headlines in favor of local results is difficult for both sellers and buyers, the fact remains that real estate is LOCAL, and our area appeals to many outside of the North Fork. A home priced within the range of recently closed properties is far more practical than pulling up properties that closed more than a few months ago- while we haven’t seen NEARLY the disastrous market in evidence in other states, there is a knowledge among buyers that things have dropped from the highs of a few years ago.

Viewing the entire process as one in which cooperation is essential will provide sellers with able buyers, and buyers with properties that don’t run the risk of being “under” appraised- starting out with accuracy is, and always has been, a key component.

CALL US FOR AN ACCURATE ESTIMATION OF THE VALUE OF YOUR HOME. GETTING BUYERS TO LAND ON YOUR HOME IS OUR PRIORITY.

(PHOTO OF OSPREY AND A VISITOR- Options Realty)

A Good Sign?

2008-04-08T13:36:48Z

Authored by: Options Realty
April 8th, 2008

For buyers and sellers of homes on the North Fork of Long Island, the current market woes nationally have created an uncertainty- sell? Buy? Wait it out?

This article in the Houston Chronicle, offers a glimmer of reality for all following the market. While certainly not a guarantee of improved conditions, the search for some kind of historical data that might offer a time-target has been conveyed here.

While the indicator is that we are likely nine months from tangible evidence of a turn-around, keeping an eye on builder stocks as a conduit for the thought process of investors is a key element when making a decision to buy, sell, or wait.

I, for one, will be watching closely- and reporting back!

Condo Sales on the North Fork of Long Island, 1st qtr. 2008

2008-03-28T23:38:43Z

Authored by: Options Realty
March 28th, 2008

1st. Quarter 2008 Condo Sales on the North Fork of Long Island

The following condominiums were reported under contract to the MULTIPLE LISTING SERVICE OF LONG ISLAND between Jan.01, 2008 and March 29,2008: (Unless the figures include *, these are asking prices- not closed pricing).

BAITING HOLLOW, NY:

The Knolls: 2 sold. Pricing: $339k, $375k
The Bluffs: 1 sold. Pricing: $397k*

CALVERTON, NY:

Calverton Hills: 2 sold. Pricing: $110k, $125k
Foxwood Village: 1 sold. Pricing: $158k

GREENPORT, NY:

Harbor Shores: (coop): 1 sold. Pricing: $280k

RIVERHEAD, NY:

Mill Pond: 2 sold. Pricing: $295k, $349k
Willow Pond: 1 sold. Pricing: $339k

SOUTHOLD, NY:

Founders Village: 3 sold. Pricing: $345k, $347k, $349k

The following number of condos are currently available for sale:

BAITING HOLLOW, NY CONDOS:

The Bluffs: 2 available. Pricing: $299k, $449,5k
The Knolls: 8 available. Pricing: $359k, $369k, $375k, $375k, $399k, $439k, $449k, $470k

CALVERTON, NY CONDOS:

Calverton Hills: 5 available. Pricing: $117k, $145k, $150k, $175k, $210k
Foxwood Village: 11 available. Pricing: $169k, $189k, $189k, $219k, $219,9k, $240k, $245,9k, $298k, $310k, $319k, $375k
Windcrest East: 3 available. Pricing: $569,9k, $569k, $629k

EAST MARION, NY CONDOS:

Cleaves Point: 1 available. Pricing: $849k

GREENPORT, NY CONDOS:

Sterling Harbor: (coop) 2 available. Pricing: $449k, $749k
Driftwood Cove: (coop) 4 available. Pricing: $180k, $180k, $190k, $199k
Oyster Point: 1 available. Pricing: $715k

JAMESPORT, NY CONDOS:

Maidstone Landing: 7 available. Pricing: $845k, $869k, $947,9k, $949k, $995k, $1.275m

RIVERHEAD, NY CONDOS:

Willow Ponds: 10 available. Pricing: $290k, $299k, $299k, $318k, $329k, $369k, $369,9k, $399k, $440k, $445k
Mill Pond: 7 available. Pricing: $285k, $305k, $309k, $314k, $315k, $324,5k, $325k
Sunken Ponds: 7 available. Pricing: $345k, $350k, $390k, $399,9k, $399,9k, $429k

SOUTHOLD, NY CONDOS:

Founders Village: 1 available. Pricing: $374,9k
Colonial Village (coop): 4 available. Pricing: $187,8k, $277,6k, $279,8k, $279,8k

To view photos of the above properties, please click on North Fork Condos, click “condo”, and enter the town. For more detailed information, click on Market Snapshot. To VIEW properties, and for any other additional information, call us at 631-727-2227.

photos: OptionsRealty

Buying Power on the North Fork

2008-03-26T19:55:37Z

March 26th, 2008 - Options Realty - Laurie

Recently, we’ve received several inquiries from people interested in vacation/second/retirement homes on the North Fork of Long Island, New York.

While the majority of people are in the early stages, there is confusion- take the plunge, or wait?

Statistics are offering a clear indication that we are in a buyer-friendly market. As buyers, you control the market- a welcomed change from the days of frantic bidding wars, and disappointment.

Do buyers truly understand the power that they wield? I don’t think so- at least, not in New York.

And certainly, not on the North Fork. Here’s why:

The North Fork is a “last bastion” of seller-friendly real estate agents. While many are willing to go “out on a limb” in order to represent buyers with a broker agency capacity, few are willing to offer fiduciary (and the accompanying “liability”) to the current MVP- the BUYER.

Buyers have been forced to participate in the buying process in a two-on-one game- with both real estate agents representing the best interests of the seller. That this creates vicarious liability (not good) for sellers has gone unnoticed- or is simply misunderstood.

The resounding word used by local agents that eschew buyer agency is “liability”. Hmmm. Fear of a buyer suing an agent for violating the required fiduciary spelled out in a BUYER AGENCY AGREEMENT.

Please follow this link to read the rest of this great post from Laurie at OptionsRealty.com

Thanks Alot!

Location, Location, Location in Southold New York

2008-03-24T15:14:56Z

March 24th, 2008

We are featuring a home with an exceptional location, and unlimited potential in Southold, New York.

One of the most enduring characteristics of a “solid” home purchase is LOCATION. In Southold, while choices abound for opportunity, we recently listed a home that seems to have it all.

A stellar location, 7720 Soundview Avenue is set back amongst trees, with privacy afforded- “Great Pond” is directly across the street.

Surrounded by homes that are higher in asking price (currently available pricing ranges from $895k to nearly 3million), this home provides walking distance proximity to the Long Island Sound, withKenneys Beach providing a day of fun destination for both kids and adults. An easy, tree lined walk provides the perfect opportunity for families to enjoy one of the most lovely beaches offered in the area.

Location: CHECK.

Due to the abundance of larger homes dotting Soundview Avenue, 7720 provides an entry price point well below the “norm” for this location. There are currently 4 homes offered on Soundview that range in price from $999,900 to $18,500,000. While the size and views justify the asking prices, purchasing in a location with properties in the “stellar” range is always a good idea.

Price: CHECK.

In keeping with age old advice to purchase potential as well as price and location, while this home is perfect as a “weekend getaway”, the presence of a newly erected, heated three car garage is food for the imagination- should the need to “expand” present itself, the structure affords additional space, with potential for finishing. A guest area,or private work space, is ripe for finishing, with privacy afforded. In addition to the three car garage, the existing one-car attached garage is waiting for finishing- asun-room, perhaps, or a master suite?

Potential: CHECK.

Additionally, the owners have lovingly engaged in their “green thumb” activities- while the trees have yet to bloom, the flowers planted over the years are starting to emerge. Coupled with a pond just outside the front door, and a hot tub in the back, this home offers a wonderful vacation feeling- “peaceful” comes to mind. Combined with the charming location of a town intent on retaining a rural feel, the opportunity is rare, indeed.

Quality of life: CHECK.

TO VIEW THIS WONDERFUL OPPORTUNITY, CALL TODAY!

Click here for the link to the detailed flyer on this home with lots more photos.

Retirement/Vacation Homes for Sale on the North Fork of Long Island

2008-02-21T17:23:34Z

Authored by: Options Realty
February 21st, 2008

Condominiums on the North Fork of Long Island are having a nice start for sales in February, 2008. While the clear “front runner” is a community in Southold, New York (see below for Founders Village info) the contracts written between 02/01/08 and 02/20/2008 indicate that interest in retirement/vacation properties on the North Fork of Long Island, New York may well pick up steam in 2008.*

SALES OF CONDOS ON THE NORTH FORK OF LONG ISLAND BETWEEN 02/01/2008 AND 02/20/2008:

FOUNDERS VILLAGE, SOUTHOLD, NEW YORK: 3; CURRENTLY FOR SALE: 0

THE BLUFFS, BAITING HOLLOW, NEW YORK: 1; CURRENTLY FOR SALE: 2

THE KNOLLS, BAITING HOLLOW, NEW YORK: 1; CURRENTLY FOR SALE: 5

WILLOW POND, RIVERHEAD, NEW YORK: 1; CURRENTLY FOR SALE: 10

ADDITIONAL COMMUNITIES WITH PROPERTIES AVAILABLE:

Silver Village, Aquebogue, New York: currently for sale: 2

Foxwood Village*, Calverton, New York: currently for sale: 13

Windcrest East, Calverton, New York: currently for sale: 2

Cleaves Point, East Marion, New York: currently for sale: 1

Maidstone Landing, Jamesport, New York: currently for sale: 6

Saddle Lakes, Riverhead, New York: currently for sale: 2

Stoneleigh Woods, Riverhead, New York: currently for sale: 2

Mill Pond, Riverhead, New York: currently for sale: 13

Sunken Ponds, Riverhead, New York: currently for sale: 6

Some of the above communities cater to the 55 and better crowd, some have tennis/clubhouse/pool, and all are located on the North Fork of Long Island, from Riverhead Town to Southold Town in Suffolk County, New York.

Contact Options Realty to view available condominiums that might fit your needs. We will provide you with a list of all sold properties, as well as available homes. Your North Fork of Long Island summer retreat, or full time home, awaits!

laurie@optionsrealty.com to list your home- we have buyers looking;

stark@optionsrealty.com to have your own “buyer’s agent”, representing your interests only;

mark@optionsrealty.com to view additional properties, to list (seller agency) or purchase (buyer agency)opportunities with both condominiums, and mobile home opportunities in Riverhead, NY.

WE LOOK FORWARD TO SERVING YOU!

*all statistics obtained from MLSli; accuracy not guaranteed.

A Look at Sold Homes in Southold

2008-02-18T18:13:11Z

Authored by: Options Realty
February 18th, 2008

What does a home, available for sale from $345k to $499k look like in Southold, New York?

What does a SOLD home, priced from $352k to $499k look like?

Information gathered from MLSli (Multiple Listing Service of Long Island) provides information, which is entered into the system by third parties (real estate agents).*

A HOUSE ON THE MARKET PRICED BETWEEN 345K AND 499K IN SOUTHOLD, NEW YORK AS OF FEBRUARY 17, 2008 HAS THE FOLLOWING CHARACTERISTICS (16 available properties in this price range):*
Square footage: 1377* Basement: .76 or, three quarter basement. (Slab=0; crawl=.25;part=.50; full =1 point. Total divided by homes on the market). Style: Ranch: 11; 2 story (to include cape, colonial, etc): 6.
Bedrooms: 3
Garage: 1.75
Bath: 1.87

A SOLD HOUSE IN SOUTHOLD, NEW YORK, BETWEEN THE DATES OF 06/01/2007 THROUGH -2/17/2008 priced from 345K-499K HAS THE FOLLOWING CHARACTERISTICS:
Square footage: 1423*
Basement: .82
Style: ranch: 14 (to include “raised”, “expanded”, and “Hi” ranches); 2 story (see above): 5
Garage: 1.36
Bedrooms: 3
Bath: 1.76

These figures are rudimentary. Not taken into account is location (priceless?) age, or condition. Interestingly, there are available what appear to be very nice buys- one comes to mind that’s a fixer upper with water view.

There are many elements lacking, when taking 16 (on the market) houses, vs. 19 sold houses and developing a model of a good opportunity. It is, however, a “feasibility” study of sorts, providing facts to offset decisions. The right combination of expectation and offer for sale is important right now. While the buyer pool has slowed, it hasn’t stopped. People want to buy a home that is MARKET VALUE if in great shape, and UNDER MARKET if it needs work. Both terms are a moving target at the moment.

*the numbers were skewed by the input provided- for example, one sold property indicated over 14000 s.f.- clearly incorrect. Houses whose #’s were clearly off were eliminated in that category, with the remaining properties divided.

Zero Tolerance for Downtown Riverhead

2008-02-10T22:58:49Z

Authored by: Options Realty - Sean Stark
February 10th, 2008

At Options Realty we are glad to see that Riverhead’s two newest additions to the Town Board, Tim Buckley and Jim Wooten, have started the new administration in Riverhead Town Hall with local business success as a priority. Now let’s hope that the rest of the Town Board has the required fortitude to follow their comments of support with some action. Quickly.

At least these two members of the Riverhead Town Board understand the urgency of the problem with derelicts and deadbeats in downtown Riverhead. Solutions are available. Having the spine to back them up and maintain optimism and vision for a revitalized Downtown will hopefully prevail.

Tim Gannon had an article in The News Review on Thursday of this week entitled ‘Zero Tolerance’ Zone.

Avenue on the west to Mr. Buckley is proposing that the zero tolerance zone for downtown stretch from GriffingOstrander Avenue on the east, with the zone going about a block to the north of Main Street. There would be signs clearly marking the boundaries of the zone, he said.

“Zero tolerance is a full-scale strategic attack on all crime and disorder in Riverhead, Main Street in particular,” Mr. Buckley said. “It focuses on the enforcement of ‘quality of life’ offenses such as drinking in public, loud radios, urinating in public and disorderly conduct. By quickly addressing these problems,Riverhead will send the message that more serious crime will not be tolerated.”

Read the rest of the article ‘Zero Tolerance’ Zone

Sometimes there is a little truth in pessimism...

...Please read the rest of this post here @ Options Realty. Thanks for stopping by.

Buyer Agency on The North Fork of Long Island

2008-02-01T18:36:56Z

Authored by: Options Realty
February 1st, 2008

BUYER AGENCY ON THE NORTH FORK OF LONG ISLAND: DON’T LEAVE HOME WITHOUT IT!
We have posted for your review a disclosure that you will be required to acknowledge when you choose to work with a real estate agent/Realtor in the state of New York. Please see previous blog.
At Options Realty, we offer as company policy two choices: have us represent you as a buyer, or have us represent you as a seller, or in the event of our own internal listing, on behalf of the seller. If you care for a listing that we offer, we will offer only SELLER AGENCY representation- meaning that you’d be wise to obtain your own buyer broker to look out for your best interests. Dual agency, to us, is a very bad plan, and it undermines the integrity that we’d like to see all parties exit the transaction with, including ourselves. Many local companies do not feel as we do; that choice belongs to them. We operate on our own level of integrity, not local practice.
FREQUENTLY ASKED QUESTIONS ABOUT BUYER REPRESENTATION:
“Who pays the commission?” is a common question. Know that, if a home is presented in the MLSLI (Multi List of Long Island) the seller has indicated payment to the cooperating broker. It’s in the PRICE of the home. So- the reality is, as a buyer offering full price for a house, you pay it (from our perspective), but the listing agent compensates Options Realty OUT of the advertised fee. Offering less than full price does not negate the agreement of the seller- it simply means that they will net less due to a lower accepted offer.....

....Read the rest of this post here on our blog!

Condos for Sale on the North Fork of Long Island

2008-01-30T18:37:21Z

Authored by: Options Realty
January 30th, 2008

Thinking of retiring to a condo on the North Fork of Long Island? Below, as of 01/29/07, the following communities have opportunities available:

BAITING HOLLOW, New York:
The Bluffs: 2 bedroom/2 bath. *HOA/Maintenance fee: $300-330. Amenities: Y; # of properties available: 5; price range: $299k-455k.

The Knolls: 2-3 bedroom/2-2.5 bath. HOA/Maintenance fee:$260-440. Amenities: Y; # of properties available: 5; price range:$369k-649k.

CALVERTON, New York:
Windcrest East: 3 bedroom/3 bath. HOA/Maintenance fee: $220-270. Amenities: Y; # of properties available: 2; price range:$589k-629k.

EAST MARION, NEW YORK:
Cleaves Point: 2 bedroom/2.5 bath. HOA/Maintenance fee: $568. Amenities: Y; # of properties for available: 1; price range: $865k.

JAMESPORT, NEW YORK:
Maidstone Landing: 2-3 bedroom/2.5-3.5 bath. HOA/Maintenance fee: $482-500. Amenities:Y; # of properties available:6; price range: $835k-1,275,000.

RIVERHEAD, NEW YORK:
Mill Pond: 2 bedroom/1.5-2 bath. HOA/Maintenance fee: $187-200. Amenities: Y; # of properties available:6; price range: $285k-349k.

Willow Ponds: 2 bedroom/2-2.5 bath. HOA/Maintenance fee:$200. Amenities: Y; # of properties available:10; price range: $285k-525k.

Sunken Ponds: 2 bedroom/2 bath. HOA/Maintenance fee:$248-280. Amenities: Y; # of properties available:5; price range:$350k-410k.

Saddle Lakes:2 bedroom/2 bath. HOA/Maintenance fee:$350. Amenities: Y; # of properties available: 1; price range: $395k.

Stoneleigh Woods: 2 bedroom/2.5 bath. HOA/Maintenance fee:$251. Amenities: Y; # of properties available: 2; price range:$358k-369k.

SOUTHOLD, NEW YORK:

Founders Village: 2 bedroom/2 bath. HOA/Maintenance fee:$240. Amenities: Y; # of properties available: 3; price range: $345k-349k.

Amenities vary- while some offer a clubhouse and pool, others include tennis courts. To get a full rundown and current availability, call or email us for a market report. Please include those amenities that are important to you (proximity to bus-lines and town, available clubhouse, 55 and better, pets accepted, etc).

All info obtained from mlsli, so while the information is deemed reliable, confirmation is recommended- as things change daily, call or email for updates: 631-727-2227

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

2008-01-15T23:01:59Z

Authored by: Options Realty

January 16th, 2008

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.

Apollo Falling?

2007-12-16T18:45:28Z

Authored by: Sean Stark
December 16th, 2007

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.

Snags & Thorns on Main Street Riverhead

2007-12-08T21:38:49Z

Authored by: Sean Stark
December 8th, 2007

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 DowntownRiverhead, 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.

Noth Fork Local Holiday Happenings

2007-11-30T17:46:25Z

Authored by: Options Realty
November 30th, 2007

The following is a list of some North Fork, Long Island Holiday events, courtesy the Suffolk Times newspaper- subscribe today at www.suffolktimes.com. On ongoing list is available; we are highlighting a few of the upcoming events.

MONDAY, DEC. 3RD
6-10 P.M.
MATTITUCK CHAMBER OF COMMERCE holiday get together.
Where: Vineyard Caterers, Aquebogue
The Mulligans will provide the music; open bar for four hours; dinner.
Contact: Pat Patchell at 722-3458 for reservations; tickets are $38.00

THURSDAY, DEC.6TH
4-7 P.M.
STROLL JAMESPORT CHRISTMAS
Where: Jamesport business district
Shopping, treats, and festivities
Contact: Linda Seaton at Whoa Nellie, 722-8509

FRIDAY, DEC. 7
4 P.M.
ORIENT BEACH HOLIDAY TREE LIGHTING
Where: Rt 25, Orient
Santa, a tree lighting, and local children singing holiday songs
321-3510

FRIDAY AND SATURDAY, DEC. 7-8
8 P.M.
PECONIC BAY MASTERWORKS CHOIR CHRISTMAS CONCERT
Where: Mattituck Presbyterian Church, Main Road, Mattituck
Advance tickets required
477-0648

SATURDAY, DEC. 8
11 A.M.

CELEBRATE AND DECORATE!
Childrens program, creating edible outdoor decorations for birds and animals
Where: the Red House, Rte 48 Greenport
For more info, visit www.northforkaudobon.com
$5.00 for nonmembers

SUNDAY, DEC. 9
10 A.M- 4 P.M
HOLIDAY CRAFT FAIR
Where: American Legion Hall, Greenport, NY

SATURDAY, DEC. 15
4:30 P.M.
OYSTERPONDS HISTORICAL SOCIETY HOLIDAY HOUSE TOUR
Where: information at Orient Congregational Church, rte 25
Tickets: $25.00
323-2480 for details.

SATURDAY, DEC. 15TH
DETAILS COMING
CUSTER INSTITUTE AND OBSERVATORYS HOLIDAY PARTY, Southold
CALL: 765-2636
Stay tuned for additional holiday events planned for the North Fork of Long Island!

Thinking of buying or selling a home on the North Fork of Long Island? Check out properties for sale on our site.

Real Estate…It’s a Gut Feel.

2007-11-17T18:33:14Z

November 17th, 2007 Options Realty

Selling or buying real estate requires basic knowledge. A real estate agent can provide input, and both buyers and sellers can receive additional input online. The paperwork end of a transaction is NOT rocket science.

With that said, what CAN I contribute to your transaction, beyond a full understanding of the process?

The real kinks never seem to be about an uncrossed T.

The kinks often stem from the ability of the sellers and buyers, from a personality standpoint, to view the property from the same page. Much like it would be were you to enter your child in a beauty pageant (OK- I wouldn’t, but that’s another story) there is no possibility of a seller remaining DETACHED. It just isn’t possible. At least, it isn’t for me (and I’ve sold a few of my own houses). It is also unrealistic to expect that a buyer is fine with the house just as it is, at just that price, at this point in time.

Buyers, in this odd market, are looking at house pricing as the “starting point“. Rare is the buyer, anyway, who doesn’t make an offer, but offers today are often significantly under the asking price. This is tough stuff- especially in light of a market that is barely steady or has a decline. Newspapers are pounding the notion of a catastrophic price drop every other day; news shows do little to squelch the possibility.

I like to think, as a real estate agent with experience, that my input (depending on who I’m representing) will either make them money, or save them money.

SELLERS, for starters, one thing hasn’t changed: PROPERTIES THAT ARE PRICED RIGHT SELL. How to determine that, even while gazing at stats barely three months old? More important, what of your current competition? I want to know exactly what a buyer is thinking when they view the house down the street- what would I think? What do YOU think? If you don’t understand the market through the buyers eyes, you need another set of eyes. My fiduciary is yours first; that requires that your financial outcome is, in my estimation, the maximum that is realistic.

BUYERS, that home that looks overpriced? It isn’t, and here’s why: “There was an assessment indicated to the owners of the condominium association four months ago for $12,000. THIS seller paid it in full; the other homes on the market didn’t. That’s why they are $5,000.00 higher.” Or, “This house that you love is perfect, because it falls in line with all of the comps- however, as sellers are aware of the “offer” climate, let’s go under, and see what happens first. If you love it, we’ll get to full price if we HAVE to.” If you and I have signed a buyers agency, fiduciary comes before all else.

Clearly, as either a seller or a buyer, the home buying process is a task that you can accomplish without another opinion. My goal is to make my opinion WORTH IT.

If you are thinking about selling your home for top dollar permitted in the current market conditions, call us for our opinion- we’d be happy to provide it.

If you are thinking of buying a home, let’s go steal something. Or, locate something priced right, that you LOVE.

Musings

2007-11-10T19:29:57Z

November 10th, 2007 by Sean Stark

Jonathan Clements from the Wall St. Journal reported this story about Unloading Your Property in a Slow Market

“It could be the kindest cut of all.
Look at the prices of homes getting sold, and the property market’s decline seems no worse than a rough day in the stock market. Look at the number of unsold homes, and you realize there’s a world of financial pain out there.”

See it all Here

Very often, people that I run into on a daily basis usually ask me about the current status of the real estate market here on the North Fork of Long Island. I’ve told you that we are seeing recent reductions in the number of homes on the market and how that will be a good thing for the overall real estate economy here on the North Fork. Less inventory numbers in the market will help to increase demand as the supply becomes reduced. This will help to level out the recent correction of our local real estate market here on the North Fork of Long Island, New York.

James R. Hagerty at the Wall Street Journal, in his article,
Drop in Home Listings…

…“Though inventories of homes are no longer growing rapidly as they did in 2005 and 2006, they remain at a very high level in most of the country — and that has been pushing prices down in many areas. “Sellers are becoming a little more flexible in negotiating prices,” says Pat Lashinsky, chief executive of ZipRealty.”

See it all Here

Wow!
A fire storm has been brewing on this blog post, Informed Sellers Demand More From Real-Estate Agents…

“Just putting the home in the MLS and [posting] a yard sign is simply not enough,” an area agent quoted in the article says.

See it all Here

I save the best for last…and The Real Estate does not let us down this week!
Jim Cronin posts The 7 Reasons Why Your (Future) Clients Should Care That You Are a Real Estate Blogger

“Without the substance to back up these slogans, they are nothing more than sentences. Your clients and potential clients are in fact looking for an agent that has superior knowledge, rich experience, is trustworthy, offers excellent service, knows the area and cares about them.”

See it all Here

Are New Yorkers Getting Robbed at the Closing Table?

2007-10-20T01:00:23Z

Authored by: Laurie Mindnich
October 20th, 2007

There was a recent publication, offered to New York Realtors, by the New York State Association of Realtors (NYSAR). There is encouragement provided via a caveat at the top, “This update on government and politics in New York State is a weekly publication from the NYSAR’S Government Affairs Department. REALTOR members and staff are urged to share this information as appropriate and reprint it in membership publications.”

GOOD. It would appear that the NYSAR is acknowledging, via this email, that closing costs for New York home buyers and sellers (at twice the national average, as I am understanding the figures below) is TOO MUCH.

THE REPORT INCLUDES THE FOLLOWING: “New Yorkers still paying highest closing costs in the nation- for the third year in a row, Bankrate.com ranked New York’s closing costs as the most expensive in the nation. On average, NewYorkers pay $3830. to close a $200,000. mortgage; more than $1,000. more than the national average of $2736. The addition of local and state real-estate-related taxes hikes the national average final closing cost in New York to $7194. New Yorkers pay nearly double the national average of $3681. and 60 percent more than the least expensive state, Indiana, where residents pay a total of $2339. for the same mortgage. New York’s origination fees, title insurance, attorney costs and of course high taxes contribute to the hefty final price tag on a home purchase in the Empire State.

What does this have to do with YOU? This acknowledgement of absurd New York closing costs comes on the heels of a Department of Justice and Federal Trade Commission questions about fair trade in the CLOSING COST VENUE. New York is only one of a very few states that requires the fee of an attorney to perform the contract and subsequent addenda review. Most states permit the practice of real estate without this cost.

Is ATTORNEY REVIEW supported by the real estate community? GRUDGINGLY, and here’s why: attorneys are simply the go-to in New York out of habit- nothing else. GET MY ATTORNEY. Guess what? It’s an incurred expense (as a built-in) that is subject to the discretion of the buyer/seller. Why are most states able to conduct a real estate transaction in the absence of the attorney contingent? Probably because…A HOUSE IS A HOUSE. Rocket science is not required.

New York is increasing the required hours for licensees. While this might not provide the comfort of an outside opinion, it is a step forward for real estate agents in New York. Bottom line: you can pick a bad lawyer, and you can pick a bad real estate agent.

The best option is to be VERY CLEAR, with your own investigation, as to the value of the home that you’d like to buy, or sell. A great real estate agent will provide reality. While a lawyer (who never sees the home) will offer annoyances (this is not legal advice) weighing out the two may be an option that you have as a buyer or seller of real estate in New York. We hope so.

Home buyers, and sellers in the North Fork of Long Island (Riverhead, Calverton, Baiting Hollow, Jamesport, Laurel, Mattituck, Cutchogue, Peconic, Southold, New York)- we’d love to help. Call or email.

One Open House in 16 Years

2007-10-19T22:25:45Z

Authored by: Sean Stark
October 19th, 2007

A good article came my way this week via Realtor Magazine that discusses the topic of open houses. Are Open Houses an antiquated form of advertising if 80% of home buyers use the Web to search for properties? Here’s the link.

Is the Open House What It Used to Be?

While 80 percent of home buyers used the Web to search for properties, only 42 percent visited open houses last year, reports the NATIONAL ASSOCIATION OF REALTORS®. But does that mean open houses are a waste of time? Depends on whom you ask.

Broker John Hodnett, of Lilia Delman Real Estate in Coastal Rhode Island, has only held one open house in his 16-year real estate career. He says serious buyers tend to view properties online and make appointments to tour the specific properties that truly spark their interest.

On the other hand, open houses often are frequented by people who simply want to see what a home looks like with no plans of making a purchase.

However, Hodnett notes that some sellers demand open houses because they want to know their agent is working hard to sell the home.

Lawrence Yun, Vice President, NAR Research made some thought out observances of the current real estate market. Yun sees an improved market for 2008. Let’s hope his crystal ball is correct. Remember to keep those prices in line out there, that’s one way to reduce this “very high” inventory…

Taking Inventory

Though the credit problems appear to be over, there is an overhang that looms large that could hamper the recovery of the housing market. Inventory is high – very high. There were a record 4.58 million homes on the market at the end of August. That’s a 10 month supply. But the number of total listings appear to be topping out. A significant portion of the existing supply of homes is old inventory that has been sitting for several months due to lower sales activity.

Read the rest of this article