Brookville, NY

This is the first of the series: The Process of Buying a Home in Brookville, NY

AFFORDABILITY

Whether you are buying a home in Brookville, NY or Oyster Bay, NY or anywhere in the country for that matter, it is a very stressful experience to say the least. Looking for that dream home without knowing what it involves is not a good idea at all. As an informed buyer, you're in a better position to deal with all the intricacies of home buying process, going through the labyrinth of paperwork and making the right decision. This is the biggest purchase of your lifetime and you do not want to end up making the biggest mistake of your life.

With the economic situation in Long Island and the effect of the Wall Street meltdown, you must be wondering if buying a home now is the right thing to do. Although the value of home may go up or down, the value is still there. As long as you intend to stay in your home for a long time, the appreciation of home value will be there. Not to mention the fact that your home gives you shelter and a safe sanctuary for your family.

Before you get serious looking for a house in Brookville, NY, ask yourself this question: How much can you afford? Your best bet is to contact your accountant or mortgage broker who can advise you on what you can afford and what programs are available out there for you to take advantage of so you can buy your dream house. If you are a first time home buyer, ask about the $8,000 federal tax credit. Also, Governor Paterson just issued a press release on Aug. 10, 2009 announcing Federal Income Tax Credit for First-Time Home Buyers. Here is an excerpt of the press release:

"Governor David A. Paterson today announced that New York will offer a federal income tax credit to first-time homebuyers to encourage home sales in the State. The New York State Mortgage Credit Certificate (MCC) will enable first-time homebuyers to claim a tax credit equal to 20% of their annual mortgage interest costs, potentially saving the average homebuyer about $1,500 each year. The program will effectively extend, and in some cases improve upon the federal government's $8,000 First-Time Homebuyer Credit enacted as part of the American Recovery and Reinvestment Act of 2009, which expires on November 30th.

The New York State Mortgage Credit Certificate (MCC) can be used to reduce a homebuyer's tax burden for every year the mortgage loan remains outstanding. With an MCC, 20% of the amount paid in mortgage interest becomes a tax credit that can be deducted, dollar for dollar, from a homeowner's federal income tax liability. The remaining 80% of the mortgage interest continues to qualify as an itemized tax deduction, as long as there is sufficient federal tax liability. The MCC will be administered by the State of New York Mortgage Agency (SONYMA), a State agency that offers a variety of fixed-rate mortgages tailored to the needs of first-time homebuyers."

For more details on the program, please visit www.nyhomes.org.

Once you know how much money you need to buy your new home and the amount you need for living expenses, then you are on your way to start looking. With the state of the economy, you want to make sure you have enough money to sustain the mortgage payments and the maintenance of the house. To play it safe, make sure you have at least 6 months reserve for living expenses in case you lose your job.

Once you establish the fact that your finances is in good shape, then you are ready for the next move.

Copyright © 2009. By Rosalinda Morgan, "The Rose Lady". All rights reserved.. *THE PROCESS OF BUYING A HOME IN BROOKVILLE, NY - FIRST OF THE SERIES: AFFORDABILITY*

If you are interested in selling or buying a home in Brookville, Muttontown, Oyster Bay, East Norwich, Oyster Bay Cove, Syosset, Laurel Hollow, Bayville, Centre Island and Mill Neck, please contact Rosalinda Morgan, "The Rose Lady".

Ph - 516-385-0584

Email - linda@rosalindamorgan.com

Website - www.rosalindamorgan.com

Per the Multiple Listing Service of Long Island, there are only 5 homes sold in Brookville, NY in 2009. Out of the 5 homes sold in Brookville, NY during the first seven months of 2009, one sold for full price and the other four sold for much less than the asking price. The average sale price for Brookville homes sold in 2009 is $1,781,000. Average sale price of homes sold in Brookville, NY in 2009 was 8% below the asking price. Prices of homes sold in Brookville, NY in 2009 ranged from $1,095,000 to $3,440,000.

Last year's prices of homes sold ranged from $1,500,000 to $2,626,000. Of the 7 houses sold in the first seven months of 2008, one went for full price, three homes sold for $1,500,000.

There is no home sold in Brookville, NY in January, 2009. However, in January, 2008, two homes were sold.

Prices of homes for sale in Brookville, NY this year range from $1,200,000 to $12,950,000.

There are 37 homes on the market as of this writing and based on the recent sales, we have an inventory good for three years and a half if no other homes come into the market which is unlikely.

SPRAWLING RANCH IN BROOKVILLE, NY

You will get a better picture of the above analysis by looking at the list of homes sold in Brookville, NY for the first 7 months of 2008 and 2009:

For the community profile of Brookville, NY, click Luxury Living in Brookville, NY on the North Shore of Long Island.

Copyright © 2009. By Rosalinda Morgan, "The Rose Lady". All rights reserved.. *HOMES SOLD IN BROOKVILLE, NY - JAN. 1-JULY 25, 2009

If you are interested in selling or buying a home in Brookville, Muttontown, Oyster Bay, East Norwich, Oyster Bay Cove, Syosset, Laurel Hollow, Bayville, Centre Island and Mill Neck, please contact Rosalinda Morgan, "The Rose Lady".

Ph - 516-385-0584

Email - linda@rosalindamorgan.com

Website - www.rosalindamorgan.com

Homes for sale in Brookville, NY range from ranches to huge estate with plenty of choice in between. As of July 24, 2009, according to the Multiple Listing Service of Long Island, there are 29 homes for sale in Brookville, NY with Jericho schools and 8 homes for sale in Brookville with Locust Valley schools. Various architectural styles are represented. There are 16 colonials, 5 contemporaries, 3 expanded ranches, 3 post moderns, 3 ranches, 2 splits, 3 estate and 1 other.

Brookville, NY has always been a magnet for the well-heeled clientele. During the heyday of the Gold Coast era, this area of the North Shore is a playground for the old money and the aspiring nouveau riche. Big mansions are scattered all over the place with sprawling lawns and a whole cadre of help to maintain these opulent estate. Recreation mostly involved fox hunting or polo match at Meadowbrook Club. That gracious era is long gone but properties are still on 2+ acres zoning.

Franklin Delano and Aldrich, the prominent architect of the ‘20s made his first commission in this area. His first commission is the Christie House which was modeled after Mount Vernon, the home of our first president, George Washington. This mansion is now called Nassau Hall owned by Nassau County Government. It has a vast collection of pine trees in the premises. Nearby is another mansion, a French Chateau style built for William Clements' wife as a reminder of her home in France. This mansion is also owned by Nassau Government and used now for various charity fundraising events and concerts in the summer.

For more information about Brookville, NY, see my article on Luxury Living in Brookville, NY on the North Shore of Long Island.

Below is the list of homes for sale in Brookville, NY as of July 25, 2009 per the Multiple Listing Service of Long Island.

Copyright © 2009. By Rosalinda Morgan, "The Rose Lady". All rights reserved.. *HOMES FOR SALE IN BROOKVILLE, NY - JULY 25, 2009

If you are interested in selling or buying a home in Brookville, Muttontown, Oyster Bay, East Norwich, Oyster Bay Cove, Syosset, Laurel Hollow, Bayville, Centre Island and Mill Neck, please contact Rosalinda Morgan, "The Rose Lady".

Ph - 516-385-0584

Email - linda@rosalindamorgan.com

Website - www.rosalindamorgan.com

Brookville, NY is one of those villages that connotes luxury living. The village of Brookville, NY on the North Shore of Long Island used to be the enclave of the very wealthy people who built huge mansions with expansive properties. Most of the large estates have been subdivided over the years and there are very few left around.

Brookville, NY has a lot to offer clients with discriminating taste. Prices of homes for sale in Brookville, NY starts at over $1 million and go all the way to almost $13 million. Most of the properties in Brookville are on flat ground with very few exceptions that sit on a slope. There are tremendous amount of "McMansions" on new constructions. There are still few homes built in the ‘50s but some new constructions have emerged in the last five years.

Brookville, NY, one of the most sought after address is located south of Muttontown, north of Jericho, west of Syosset and east of Greenvale and Old Westbury. The demographics are majority Italians with a sprinkling of Russian, German, Polish, Irish, English and other minority groups.

Brookville, NY does not have its own post office but shares with Glen Head - 11545. Brookville, NY does not have a shopping center either and residents shop in nearby community in East Norwich and Oyster Bay or Greenvale. For dining pleasure, residents of Brookville, NY take advantage of several restaurants on nearby East Norwich where cuisine range from simple fare to expensive gastronomical experience. We have Bagel Boss Cafe, Mezzina Market, Pancake House, La Pizzetta Restaurant, Saggio Pizzeria, Luce formerly known as Cafe Girasole, Angelina Italian Restaurant and Rothmann's Steakhouse,

For dog lovers, there is a kennel called Havahome Kennels on Brookville Rd. For horse lovers, the Equestrian Center is close by on Route 106 in Muttontown. There are also several horse stables on Route 106. Some properties will allow a certain number of horses on the property. For lovers of nature, there is a nature walk trail on Muttontown Preserve next to the Equestrian Center.

School districts for Brookville, NY residents can be Jericho, Locust Valley or Oyster Bay-East Norwich. There is an excellent prep school located on Brookville Rd, the Lutheran High School. C.W. Post College, now the Long Island University is situated on Route 25A. Nearby is the New York Tech, an excellent engineering school. Recently it added a culinary school.

Luxury living in Brookville, NY with its bucolic settings also offers numerous recreational facilities. Golf courses abound in the area, all within 10 miles radius. Tam O'Shanter Club has a prominent location on Route 107 and is located in Brookville. There are other golf courses nearby - Muttontown Golf and Country Club in Muttontown, The Mill River Club in Upper Brookville, Brookville Country Club located in Old Brookville, Meadow Brook Club in Jericho, Glen Oaks Club in Old Westbury, Pine Hollow Country Club in East Norwich, Piping Rock Club in Matinecock and the Creek Club in Lattingtown. For the cultural minded people, there is The Tilles Center for the Performing Arts. It has world class performances and you do not have to drive to the city and fight the traffic.

Brookville, NY is only minutes to major highways and Syosset branch of the Long Island Railroad is close by. There is even an express train to Penn Station from Syosset in the morning for those who work in the city. For Long Islander, New York city is referred to as just "the city".

Copyright © 2009. By Rosalinda Morgan, "The Rose Lady". All rights reserved.. *LUXURY LIVING IN BROOKVILLE, NY ON THE NORTH SHORE OF LONG ISLAND?"

If you are interested in selling or buying a home in Brookville, Muttontown, Oyster Bay, East Norwich, Oyster Bay Cove, Syosset, Laurel Hollow, Bayville, Centre Island and Mill Neck, please contact Rosalinda Morgan, "The Rose Lady".

Ph - 516-385-0584

Email - linda@rosalindamorgan.com

Website - www.rosalindamorgan.com

Copyright © 2009. By Rosalinda Morgan, "The Rose Lady". All rights reserved.. *FRIDAY FOTOS - ROSE "FOURTH OF JULY"

If you are interested in selling or buying a home in Brookville, Muttontown, Oyster Bay, East Norwich, Oyster Bay Cove, Syosset, Laurel Hollow, Bayville, Centre Island and Mill Neck, please contact Rosalinda Morgan, "The Rose Lady".

Ph - 516-385-0584

Email - linda@rosalindamorgan.com

Website - www.rosalindamorgan.com