Sean Stark

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

image “apple computer”: Copyright © 2008 Apple Inc.

image “Southold Beach”: Copyright 2008 Options Realty

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)

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

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!

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.