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Laurie Mindnich

General Wayne Inn in Southold on the North Fork

When we first moved to Southold, New York in 2002, there was a structure in our neighborhood called the General Wayne Inn.

Situated oddly, Sean’s father explained that he had in fact dined at this opulent eatery located in the residential area of Bayview- it was a destination spot often navigated on foot, as those in the area were able to combine a nice walk with a fine meal.

The building was abandoned when we viewed it, but still intact- clearly devastated by a fire of some sort, it was destined to deteriorate without immediate intervention.

Below are photos of this once-grand establishment, along with a recent town meeting addressing the uncertain future of this once glorious structure.

http://southoldtown.iqm2.com/citizens/Detail_PublicHearing.aspx?Frame=&MeetingID=1106&MediaPosition=&ID=1150&CssClass=

It has increasingly become an eyesore, due to the lack of maintenance and preservation that the owner was unable to provide for it.

I’d love to see it purchased and restored, but as the years go by, all elements worthy of restoration seemingly grow legs- where a sign once proclaimed it’s identity, there is now simply an empty and rotting post.

Home Buyers: Are You Letting Time Pass You By?

To those seeking either a permanent home or a vacation/retirement home on the North Fork of Long Island…here’s a glimpse of our landscape in the fall.

With so much being generated- legitimately- about the caution needed when entering a declining home market, there is no question but that a focus on pricing (and the deterioration thereof) is a short term issue worthy of serious consideration. With the possible exception of waterfront (fundamentally limited), there is no telling what will occur with pricing over the next year. Or quite possibly, the year after that.

In the meantime, things go on- this weekend was one of pumpkins and sailing. The weather was extraordinary, and offered an opportunity to enter quiet waters (NO WIND today) and escape the onslaught of bad news, at least for a few hours.

For some, jumping on board and making a decision is fairly easy; buying a “lifestyle” is part of the package. On the North fork of Long Island, the abundance of open space, water and charm beckon those seeking to begin each day in a casual, yet spectacularly beautiful location.

Fall festivals and farm-stands dot the way home, with happy kids in Pumpkin nirvana.

Pricing has returned to levels of attainability, having soared upward only to spiral downward. The question remains: how much lower will they go? Further, is waiting to find out worth missing what can be achieved, at adjusted pricing and low interest rates, right now?

I’m not sure. What is certain, however, is that when you visit the North fork, you may not want to leave. That alone is something, isn’t it?

We’re here to assist you with your dream. Offering buyer agency, we’ll make every effort to get you the best possible price on your home of choice on the North fork, as well as provide you with all of the ammunition you need to determine if “now” is the right time for you, and for your life. Pressure doesn’t fit with the North fork lifestyle, so we’ll leave that at the door.

New York Agency Laws Ad Nauseum

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

Buyer Agency on the North Fork, Long Island

WOW!

I was delighted to see another company opening on the North Fork of Long Island that understands the simplistic nature of buyer agency: defined lines of representation, to the benefit of BOTH sellers and buyers.

Could it be that we will soon, as real estate professionals, be waving good-bye to that absurd notion that both real estate participants in a real estate transaction need to "represent" (at the sellers peril- vicarious liability) a home seller?

Dare I think it- do we have a growing contingent of real estate professionals that not only understand the benefit of full disclosure in a method that benefits all consumers (rather than simply broker/owners) but also PRACTICE such an endeavor???

The answer is YES.

A new company with experienced North Fork, Long Island agents has recently opened.

Buyers Connections Realty, located at 95 Love Lane, Mattituck, NY has opened their doors. At the helm are Mr. Nicholas Planamento, and Mr. Joan H. van Heemskerck, seasoned North Fork Realtors.

Gentlemen, we look very forward to doing business with very forward thinking agents- integrity in real estate is not only an option, but an expectation- thank you for making it possible!

Making it happen for consumers makes it happen for ALL of us- best wishes in your new endeavor, and we look very forward to working with you!

www.optionsrealty.com

Integrity in Hamptons, NY Real Estate- Arriving NOW!

Great news for the Hamptons, New York Home Buyer: INTEGRITY HAS ARRIVED!

It was with enthusiasm that I read the recent news offered by Michael Daly, owner of True North Realty Associates in the Hamptons- buyers are now going to be able to navigate the Hamptons and North Fork market with a TRUE ADVOCATE, coming in the form of an exclusive buyers agent.

While Options Realty has been a loud-mouthed proponent of a practice that covers both buyers and sellers on the North Fork, the advent of a long-time (and highly respected)Hamptons broker entering this arena is truly great news.

While this news may be less than exciting for large brokerages focused on scooping up listings (buyer agency is not possible when a buyer purchases a property “in house”- limiting that sought after “double end” for large brokers that choose the buyer agency opportunity), it is, for consumers, a HUGE change in the Hamptons that will likely change the way that business is conducted.

That buyers now have an alternative to sub agency and dual agency in the Hamptons is overdue.

Quite simply, it presents an opportunity for buyers and sellers to proceed in a purchase without that “muddy” who-represents-ME scenario. In the past, it has been as clear as, well, MUD.

To Michael Daly of True North Realty Associates, congratulations on a decision that might (FINALLY) add some consistent clarity and integrity to a transaction on the east end, usurping the often confusing transaction in which a buyer, in hindsight, understands that that “really nice agent” in fact represented the seller all along…leaving the buyer with a sense of unease (and a purchase price dictated by both the listing AND selling agent).

While we may well find ourselves with regret that competition in the form of an exceptional company with experience has nudged into (understatement) a territory in which we’ve found ourselves quite alone in promoting, the end result is a benefit to ALL real estate companies on the east end of Long Island- when consumers are treated with professionalism and honesty, real estate agents benefit. Inherent integrity.

CONGRATULATIONS, MICHAEL, ON YOUR DECISION TO INTRODUCE INTEGRITY TO HAMPTONS AND NORTH FORK REAL ESTATE TRANSACTIONS!

Thank you for recognizing that consumers on the east end have, for too long, encountered too often a “ME, FIRST” attitude from many brokers operating on both the North and South forks of Long Island, when with consumers buying or selling a home.

If you are looking for a home on the North Fork of Long Island, and seeking buyer agency in its least complicated form (no in-house listing issues), call either Options Realty or True North Realty Associates for information:

Options Realty: 631-727-2227 (hey- it’s my blog. I go first) serving the North Fork of Long Island
OR
True North Realty Associates- Michael Daly: 631-725-0554, serving both the Hamptons and North Fork of Long Island

www.beachamptons.com

LATE BREAKING NEWS:

WELCOME, ALSO, BUYERS CONNECTIONS REALTY CORP. of Mattituck, NY. Both Joan H. Bischoff van Heemskerck, and Nicholas J. Planamento are also on board with serving buyers on the North Fork with representation! With much experience in real estate, both gentleman agree that a transaction of integrity includes defined lines of representation. We look forward to working with you on the North Fork of Long Island! Joan and Nicholas can be reached at: www.BuyersConnections.com