Riverhead, NY

Authored by: Options Realty
December 2nd, 2008

The following report contains information obtained from the MLSLI. The numbers in bold indicate sold pricing vs. listed pricing. While all sales reported are deemed reliable, there is no guarantee of accuracy.

HOMES CLOSED ON THE NORTH FORK OF LONG ISLAND NOVEMBER 2008

Cutchogue, NY: 3

$389,9k, $395k; $624,9k, $593k; $929k, $865k

East Marion, NY: 2

$400k, $346k; $1.399m, $1.265m

Greenport, NY: 1

$429k, $385k

Peconic, NY: 1

$799k, $708k

Riverhead, NY: 3

$259,9k, $175k; $319k, $295k; $363k, $340k

Southold, NY: 2

$599k, $575k; $790k, $700k

HOMES UNDER CONTRACT, NOT CLOSED, ON THE NORTH FORK OF LONG ISLAND NOVEMBER 2008

Aquebogue, NY: 1

$339k

Cutchogue, NY: 4

$260k, $499k, $525k, $599k

Greenport, NY: 2

$519k, $1.849m

Jamesport, NY: 1

$725k

Laurel, NY: 1

$295k

Riverhead, NY: 3

$299k; $299k; $499k

Southold, NY: 2

$499k; $422,5k

For additional North Fork, NY market information, whether you're thinking of selling, or thinking of buying, call Options Realty today for up to the minute resources, or email us today.

October 17th, 2008

First time buyers (as well as home buyers seeking a second property*) might want to look into the SONYMA Remodel New York loan program.

With an increase in potential repairs sometimes present in homes being sold in a distressed market, this program has some highlights that could make sense to homebuyers on the east end (North fork and Hamptons) of Long Island. The following requirements are present with the Remodel New York program:

Ratios:

33-38%

40-45% with 3% down or more;

Income:

$97,100-$111,665 in non target areas

$116,250-$135,940 in target areas

*Target areas can be clarified when calling SONYMA directly at 1-800-382-HOME. Have the property address ready.

Purchase Price Limits:

$550k in non target area

$671k in a target area

Good credit is required, and the site offers a list of designated lenders ( although there seem to be some…missing lately).

* This program is not available to owners of residential investment property, or vacation property. A “first time buyer” will not have owned a home in the past three years; this program IS available to non-first time buyers in Federally designated target areas, with the above limitations.

Check out some of the other loan programs available, and keep a copy of this glossary handy!

This appears to be a great loan program for first time buyers seeking a good “buy”- as properties that need a bit of work often are.

Let us know when you’re ready to look!

www.optionsrealty.com

THESE PURCHASE PRICE LIMITS ARE ONLY AVAILABLE FOR LOANS RESERVED ON OR AFTER MAY 20,2008 AND APPROVED BY SONYMA BY DECEMBER 15, 2008.

Authored by: Options Realty
October 14th, 2008

The following data has been recorded for Lis Pendens filings between September 1, 2008 through October 10, 2008 on the east end of Long Island (North fork and Hamptons, New York):

NORTH FORK, LONG ISLAND LIS PENDENS REPORT:

BAITING HOLLOW, NEW YORK- 1

CALVERTON, NEW YORK- 2

CUTCHOGUE, NEW YORK- 1

LAUREL, NEW YORK- 1

MATTITUCK, NEW YORK- 4

PECONIC, NEW YORK- 1

GREENPORT, NEW YORK- 2

RIVERHEAD, NEW YORK- 6

SOUTHOLD, NEW YORK- 1

TOTAL NORTH FORK, NEW YORK: 19

SOUTH FORK (HAMPTONS) LONG ISLAND LIS PENDENS REPORT:

EAST HAMPTON, NEW YORK- 8

EAST QUOGUE, NEW YORK- 1

HAMPTON BAYS, NEW YORK- 6

SAG HARBOR, NEW YORK- 6

SOUTHAMPTON, NEW YORK- 4

WESTHAMPTON, NEW YORK- 1

BRIDGEHAMPTON, NEW YORK- 2

WATERMILL, NEW YORK- 1

MONTAUK, NEW YORK- 1

TOTAL HAMPTONS, NEW YORK: 29

figures obtained from the Long Island Real Estate report.

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Ad nauseum...

Listing a house in New York- how are you presenting agency choices to a potential seller?

"Seller, we want a cooperative effort from our mlsli insertion. For that reason, let's go over the choices of cooperation available to you, so that you UNDERSTAND.

SA: Seller (or sub) agency- under this offering, the agent bringing a buyer will represent YOU with fiduciary. No, we've likely never met this agent, nor do we have a grip on their ethics, but many still seek to represent you, the seller, as opposed to their buyer. Sound good? Except...know that with this offering, if they misrepresent aspects of your property to their buyer, you as the seller may be held vicariously liable for any errors presented to the buyer.

Don't like that?

BrA: Broker agency- under this offering, the selling agent may still come in representing you, the seller, and we, as the listing broker, accept liability for anything construed as an error on the part of this agent. Many real estate agents are jumping to this agency, and why not? Errors become the problem of our listing company- getting you off the hook for vicarious liability, but we REALLY don't feel comfortable with this, in much the same way that you feel discomfort assuming this liability.

Thank you for understanding.

BA: Buyer agency- under this offering, the selling agent will come in looking after the best interest of the buyer. Increased due diligence is required, as their own company is liable for any misrepresetations to the buyer. The agenda is to get the buyer the "best possible price", which is ultimately determined by you, as a seller- and we remain staunchly in "your corner", seeking to get the best price for you.

We like this "gamble", because it's not a gamble at all. Because there is no assurance of quality with a cooperating broker, or assurance that the buyer of your home will be treated with integrity, forcing the issue with clear cut lines of representation by insisting that the selling broker stand behind the transaction for their buyer makes sense- leaving both yourselves and ourselves out of any issues that may arise later due to a selling brokers incompetence.

Will it come down to who represents whom with more strength? Perhaps. Not to worry, though. When we commit to listing your property, there is no question but that seeking an amount for your house that is the best that we can locate is the bottom line- we're quite confident in that endeavor.

It is, after all, why you hired us."

www.optionsrealty.com

Authored by: Options Realty
September 29th, 2008

The following information was gathered from the MLSLI in order to provide an update on sales activity for North Fork,
Long Island retirement/vacation/55 and better condominiums.
*is closed pricing. All other pricing is list price.

UNDER CONTRACT/AVAILABLE FROM 07/01/2008 THROUGH 09/30/2008:

AQUEBOGUE, NY:

Silver Village
1 sold. $340k*
1 available. $389,9k.

BAITING HOLLOW,NY:

The Knolls
1 sold. $359k
6 available. $375k;$380k;$385k;$399k;$439k;$439k

The Bluffs
0 sold.
3 available. $449k;$498,8k;$549,9k

CALVERTON, NY:

Calverton Hills
1 sold. $159k*
10 available. $144,9K;$149K;$165K;$170K;$174,9K;$179K;
$189K;$189K;$189K$199K

Foxwood Village
1 sold. $165k.
18 available. $153,5k;$159k;$168k;$179k;$185,9k;
$199,5k;$219,9k;$220k;$225k;$225k;$229,9k;$239,9k;
$240k;$249,9k;$270k;$310k;$319k;$349,9k

Windcrest East
0 sold.
2 available. $589,9k; 589,9k

GREENPORT, NY

Driftwood cove (co-op)
0 sold
2 available. $180k; $199k

Breezy Shores (co-op)
0 sold
2 available. $369k;$369k

Pheasant Run Estates
1 sold. $320k*
1 available. $459k

Sterling Harbor (co-op)
1 sold. $765k
1 available. $695k

Oyster Point
0 sold.
1 available. $725k

JAMESPORT, NY

Maidstone Landing
0 sold.
9 available. $699k;$799k;$845k;$849k;$850k;$879k;$895k;$947,9k;$1,275m

RIVERHEAD, NY

Mill Pond
3 sold. $294k;$299k;$299K
4 available: $269,9K; $295K;$299K;310K

Willow Pond
1 sold. $298,888k
10 available. $269,9k;$295k;$299k;$314,9k;
$334k;$389k;$389k;$395k;$406,5k;$485k

Sunken Pond
0 sold.
7 available. $329k;$375k;$382k;$390k;$399,9k$399,9k;$429k

Saddle Lakes
0 sold.
5 available. $389,9k;$399k;$399k;$349k;$532,5k

The Highlands
0 sold.
1 available. $574,9k

SOUTHOLD, NY

Founders Village
0 sold.
0 available.

Colonial Village
1 sold. $160k
2 available. $187,8k;$279,7k

The Cove
0 sold.
1 available. $899k

For additional details, click on North Fork Condos, and enter “condo”, and towns of interest. For any questions regarding association dues, age restrictions, and taxes, call Options Realty at 631-727-2227 or email laurie@optionsrealty.com