Southold, NY

My brother called yesterday, and is moving back east, from Alabama to New Jersey. Because he’s aware that we list bank owned properties, he had a simple question: HOW DO I FIND THE FORECLOSURES in New Jersey without paying a fee to a website?

While I’m not familiar with the MLS in New Jersey, the Multiple Listing System of Long Island (MLSLI) is the source for listed bank owned properties on Long Island- asset companies and banks require that all listings be entered into the local MLS by the Realtor assigned the asset.

Unfortunately, there is not a tab that offers a consumer direct access, and searching all MLS properties in order to locate bank owned is frustrating. On our own website, we have foreclosures/reos for the east end (North fork/Hamptons) on a separate feed- one click provides almost all reos on the east end.

Both banks, and asset companies offer properties available for sale on their websites.

If, like my brother, you’re looking elsewhere, and are unable to locate a real estate website with an reo property feed, here are a few go-to sites:

www.homepath.com will show Fannie Mae properties for sale, and often show “coming soon.”

www.homesteps.com will show Freddie Mac properties for sale

www.pasreo.com will show Wells Fargo properties for sale

https://servicing.chase.com/reo/property/FeaturedProperties will show Chase properties for sale

https://citimortgage.res.net/ will show Citibank properties for sale

http://realestatecenter.bankofamerica.com/pages/map-search this site allows you to locate current Bank of America offerings.

While this is a partial list (many banks are offering homes for sale), at the bottom a more comprehensive list can be accessed. For local banks in your area, try googling the bank name, then reo- they may or may not have a property feed.

A few of the larger asset companies providing listed homes for sale are:

www.lps-am.com will show LPS properties for sale (asset company)

http://www.greenrivercap.com/property/Property-Listings.aspx will show Green River Capital properties for sale (asset company)

http://www.reoexperts.net/ will show NRT properties for sale (asset company)

For a great overall source list, we found the following link: http://www.mortgagenewsdaily.com/wiki/REO_Database_List.asp

As long as I’m sending this info to my brother, it made sense to share it with others who find themselves interested in foreclosure/reo homes for sale, but aren’t sure about committing to a monthly fee required by websites…

While we can’t guarantee the accuracy of all property feeds, we’ve found with our own bank property listings that the feeds offered by most banks and asset companies keep their lists up to date. If you have any questions regarding North fork real estate, don’t hesitate to contact us!

Now, if I can just convince my brother that The North Fork or East End of Long Island, New York would work for him as easily as Northern New Jersey would….

The following properties have sold in November on the North fork of Long Island (sold=closed real estate transactions for all villages). This report is for single family properties from Riverhead to Orient Point. Asking price/Closed price:

Aquebogue, NY:
365 Stonecrop Rd: $599k/$569k

Cutchogue, NY
Total sold: 6
1975 Skunk Ln: $369k/$335k
3610 Bridge Ln: $389k/$372.5k
1455 New Suffolk Rd: $400k/$355k
6145 Bridge Ln: $529k/$515k
1547 Stillwater Ave: $759k/$700k
1050 W. Cove Rd: $2.2M/$1.95M

East Marion, NY
2940 The Long Wy: $350k/$352.8k
1910 The Long Wy: $425k/$365k
240 The Crescent: $449k/$425k
15345 Main Rd: $1.335M/$1.3M

Greenport, NY
620 Maple St: $195k/$190k
300 Bailey Ave: $369k/$350k
1410 Maple Ln: $450k/$390k

Jamesport, NY
36 St. Marys Dr: $435k/$415k
966 Peconic Bay Blvd: $449k/$400k
270 Herricks Ln: $499k/$485k

Laurel, NY
1810 N. Oakwood Dr: $435k/$400k

Mattituck, Ny
2490 Pike St: $179k/$145k
1175 Central Dr.: $319k/$315k
3225 Grand Ave: $359k/$300k
3500 Cox Neck Rd: $409k/$385k
1145 Grand Ave: $454.9k/$447.5k
New Suffolk, NY
735 Jackson St: $1.395M/$1.312M
755 Kimogenor: $1.6M/$1.5M

Orient, NY
29215 Main Rd: $799k/$730k
21055 Main Rd: $799k/$754k

Riverhead, NY
772 Raynor Ave: $145k/$77k
1075 Northville Tpke: $179k/$168k
140 Woodhull Ave: $239k/$217k
140 Rabbit: $275k/$273k
906 Pond View Rd: $339k/$315k
115 Hubbard Ave: $395k/$385k
11 Kingfish Ct: $449k/$414.2k

South Jamesport, NY
126 Green St: $449k/$395k

Southold, NY
50915 Main Rd: $349k/$335k
1845 Hortons Ln: $499k/$499k
1305 Bay Haven Ln: $519k/$487k
450 Brigantine Dr: $549k/$484.6k
1135 Calves Neck Rd: $875k/$850k

Homes closed November 2011: 40
Homes closed November 2010: 42

Homes under contract have increased in November 2011 vs. November 2010.
Total homes reported under contract for 2011 are 37
Total homes reported under contract in 2010 were 35.

It would appear that while home sellers on the North fork are not reducing their homes for sale at the onset, they are accepting a larger discount from list pricing in 2011 over 2010.
Average listing discount in 2011: 7.71
Average listing discount in 2010: 4.69

Providing an “average” sales price is often skewed when a few large, or a few small properties appear, so keeping that in mind, and using as a guideline actual closings shown above, the average sales pricing from 2011 vs 2010 is as follows for all of the North fork:
2011 average sales price: $516,446.
2010 average sales price: $446,531
Interestingly, the median difference is less dramatic:
2011 median sales price: $397,500
2010 median sales price: $377,500

If you are interested in finding real estate on the North fork of Long Island, click here.
If you are interesting in finding an east end reo/foreclosure in the Hamptons and North fork, click here.
*all statistics used can be found at MLSLI. While deemed reliable, no guarantees.

Town and Country Real Estate is an active member of the North Fork Wine Country community!

On August 20, from 4-7 PM the T&C Southold Office will host the finale of our Summer Series Art shows featuring Carolyn Francis's paintings.

A great opportunity to meet Carolyn in person and talk about her work, and to have a glass of Champagne with Patrice Bertin, Carolyn's husband , and fine art restoration expert, owners of beautiful l'Orangerie Gallery in Greenport.

This finale follows a wonderful display of Marcie Honerkamp's art in June, including three of her famous surf boards;

and in July Christopher Jarrett:

and Roby Braun were the featured artists at the Southold Office's Art shows 2010 Summer , and Carolyn Francis - on display until Wednesday, August 18.

The Coves At Southold Long Island is a private waterfront community on Long Island's famed North Fork in Suffolk County.

You can reach The Coves in Southold by Route 25 to Main Bayview Road to Meadow Court. These townhouses were opened in 1992 within the Southold School District #5. They consist of 3 bedroom with basements and garages, central air conditioning and electric heat. There is a private beach, docks, heated pool, and tennis at this pet friendly community. It is very rare for a condo to come up for sale at The Coves in Southold, but according to public records a unit sold in July 2009 for $810,000. There is currently a contribution of $2,500 which must be paid by the buyer for the Reserve at The Coves.

LARRY AND SHEILA Realtors with Charles Rutenberg Realty can sell you a condo at The Coves in Southold Long Island when available, or any other community on the North Shore of Long Island. Please contact LARRY & SHEILA at 631-805-4400 and ask your friends and neighbors about us. Are you Relocating to Long Island? We are Relocation Specialists!

http://www.suffolkexperts.com

Email: sheila@suffolkexperts.com

We are not affiliated with this community, but are independent Licensed Realtor

All content, including text, & photographs, is the exclusive property of Suffolk Experts, and may not be used without the expressed written permission of Larry & Sheila. All information is believed to be accurate but is not guaranteed.

The Coves At Southold Long Island is a private waterfront community on Long Island's famed North Fork in Suffolk County.

You can reach The Coves in Southold by Route 25 to Main Bayview Road approximately 2 miles on your right to Meadow Court. These townhomes were opened in 1992 within the Southold School District #5. These are 3 bedroom townhouses with basements and garages, central air conditioning and electric heat. There is a private beach, docks, pool, and tennis. Seldom, do condos become available at this pet friendly community, but public records shows that a residence sold and closed in July 2009 for $810,000 at The Coves in Southold.

LARRY AND SHEILA Realtors with Charles Rutenberg Realty can sell you a condo at The Coves in Southold New York when available, or any other community on the North Shore of Long Island. LARRY & SHEILA can be reached at 631-805-4400 and ask your friends and neighbors about us. Are you Relocating to Long Island? We are Relocation Specialists!

http://www.suffolkexperts.com

Email: sheila@suffolkexperts.com

We are not affiliated with this community, but are independent Licensed Realtors.

All content, including text, & photographs, is the exclusive property of Suffolk Experts, and may not be used without the expressed written permission of Larry & Sheila. All information is believed to be accurate but is not guaranteed.