Monday, May 29, 2006

Thing to do in June on Long Island

We continue to dry out in June, with an average of 3.59 inches of rain. The average temperature in June on Long Island is 66 degrees.
Pick Strawberries: June is strawberry season on Long Island. Many Long Island farms invite you to pick your own strawberries. Do you really love strawberries? Attend a strawberry festival and celebrate this yummy berry.
Get Married: Well, do it only for the right reasons of course, not just because June is the most popular wedding month. If you are planning to get married this month, make sure you get your marriage license at least 24 hours before your wedding ceremony. FirmJackanthony.com Both applicants (doesn't that sound romantic) must appear in person at any town or city clerk in New York State.
Visit Atlantis Marine World: June is Aquarium Month. Celebrate with a trip to Atlantis Marine World in Riverhead, Long Island. See the sea lion show, learn about sharks, touch sting rays, sea stars, and horseshoe crabs.
Honor Your Dad: We celebrate Father's Day on the third Sunday of June. About.com's Fatherhood Guide, Wayne Parker, has all the resources and information you need.
Get Grilling: I love grilling and at the end of each Summer I vow that the cooler weather won't mean the end of grilling season for my family. However, the thought of standing outside turning over pieces of chicken on a freezing day is so unappealing that the grill doesn't get turned on again until Spring. Get tips and recipes from About.com's Barbecue Guide, Derrick Riches.
Adopt a Cat : June is National Adopt-a-Cat Month. Many animal shelters on Long Island have cats that need homes. Never had a cat before? About.com's Cats Guide, Franny Syufy, has answers to all your questions.
Make Your Pool Safe: Many Long Islanders have swimming pools. Unfortunately pools and kids can sometimes be a dangerous combination. That is why it's so important to make your pool as safe as can be. About.com's Pediatrics Guide, Vincent Iannelli, M.D., provides pool safety tips for parents.

Saturday, May 20, 2006

My Web Site

It occurs to me today that I have never given an overview of my website, www.EastEndAgent.com. On my site like most others you will find properties from all over Long Island New York with an emphasis on the East End and the North Fork. A feature on my site that you will not find almost anywhere else are my "Daily Updates". Here you will find the newest and most recently updated properties in eastern Suffolk County. This list includes properties from every Real Estate company that participates in MLS. I also post my Open House schedule and you will find most other standard tools a Real Estate web site should have. Though I am constantly trying to improve my site's content. I am always open to comments. If there is information you would like to see on my website just e-mail me your request.

Friday, May 19, 2006

Boom May Be Over, But Landing Will Be Soft

(May 19, 2006) -- WASHINGTON – The five-year boom in home sales may be over, but strong demographics and job growth promise only a short-term slowdown in most U.S. markets, NAR’s Chief Economist David Lereah told REALTORS® at Thursday’s Economic Issues & Residential Real Estate Business Trends Forum. His presentation took place during the 2006 REALTORS® Midyear Legislative Meetings & Trade Expo. Speculators and rising interest rates have ended the largest acceleration ever in existing-home prices, but the process is “a needed cleansing” that will help restore balance, said Lereah. Nationally, homes appreciated a remarkable 12.5 percent on average in 2005. Appreciation for 2006 will cool to 5.7 percent. But even with the slowdown, 2006 will be the fourth best year ever for residential real estate sales with an estimated 6.62 million existing homes sold, Lereah noted.In 2007, Lereah expects to see existing-home sales rise slightly to 6.7 million units but appreciation to slow to 4.2 percent. To help the industry track performance, NAR’s Research Department is working to develop a real-time pricing tool, “a real estate ticker,” that will update national average home prices every 15 minutes based on data from MLSs, Lereah told the crowd. To some degree, the next year or two will be “a tale of two cities,” said Lereah. Cities such as San Diego, Miami, and Naples, Fla., that have seen high price appreciation will see sharp drops in sales. Already, between first quarter 2005 and first quarter 2006, existing-home sales declined by 15 percent to 20 percent in Florida, California, and Arizona, he said. On the other hand, markets that didn’t see exuberant appreciation during the boom are actually experiencing shorter days on market. Lereah pointed to Charlotte, Dallas, and St. Louis as examples of this trend. Even declining markets should remain healthy as long as they have diversified economies and strong job growth, he said. “As long as days on the market don’t extend beyond six months, there’s no need to be concerned,” he said. The possible exception might be California, where a high number of adjustable-rate and interest-only mortgage loans might combine with a price downturn to create problems. Other possible clouds on the real estate horizon: inflation, high oil prices, and rising interest rates. Yet, Lereah said he doesn’t expect a recession. Strong business spending and a sound economy that should grow 3.5 percent in 2006 promise a positive outlook for real estate. And mortgage interest rates should stay low; Lereah said he expects two more rate hikes from the Federal Reserve in 2006, but rates won’t rise above 7 percent for the year. “The real estate market got ahead of itself, but now we’re going back to fundamentals and a more balanced market,” he concluded. — By Mariwyn Evans for REALTOR® Magazine Online

Montauk: The End

A Vacation Close to Home. Sometimes you want to take a vacation, but you don't want to spend a whole day traveling. Have you considered Montauk? It's close to home, but feels far away. My family vacations there every summer and we always enjoy it. As I said to my husband before our last trip, "I can't decide what I'm looking forward to more -- the beach, the food, or just lounging around."
Don't get me wrong. There's lots to do in Montauk if you want to do more than relax. There's a championship golf course at Montauk Downs State Park. Those who love fishing can charter a fishing boat or, if you're looking for something less expensive, you can reserve a spot on an open boat.
You can take a tour of the Montauk Point Lighthouse. It's the oldest lighthouse in the state. You can climb up to the top if you're not afraid of heights. I did it a few years ago and I'm glad I did -- once!
Now, let's get back to the relaxing stuff. First the beaches. Montauk's beaches are incredible, and plentiful. Many hotels are on, or adjacent to, private beaches. There are also several public beaches. Remember that during the summer, parking permits are required at all beaches except Kirk Park Beach. Most hotels provide permits to guests. The ocean beaches include Kirk Park Beach and Ditch Plains Beach. If you surf, you'll love Ditch Plains. Gin Beach is on Block Island Sound. The water is clean and gentle, so it's great for kids.
There's a variety of accommodations, ranging from very fancy to very simple. If you don't live too far away, you may even want to take a day trip to check out different accommodations before you make a reservation. Rates vary by season. They are highest in August. Remember to book your room early. On Montauk offers a complete list of hotels and motels. Many of them have efficiencies, so if you want to eat in sometimes, you can. But you may not want to. The food is too good to miss.
My favorite place to eat is Gosman's Dock, home to Gosman's Restaurant. Get there before you're really hungry. You'll have a long wait for a table. While the food is great at Gosman's Restaurant, I prefer Gosman's Clam Bar. All seating is on the dock. Sit right by the water at your own risk -- the sea gulls are very aggressive. Gosman's isn't the only show in town. There are many good restaurants around.
If the sea air has you hungry for a big breakfast, you'll want to try John's Pancake House on Main Street. Be prepared to wait, but it's worth it. If you want a snack, there are several places to get ice cream. John's Drive-In (no relation to the Pancake House) on Main Street has delicious homemade ice cream.

Friday, May 12, 2006

Shoreside estate of Shaker simplicity

Saved from a wrecking ball, this 1680 Shaker meeting house was moved to Shelter Island from Mystic, Conn., in 1985.It had become dilapidated and was about to be destroyed when it was salvaged by preservationists. They persuaded an heiress to buy it and move it across Long Island Sound. Each piece of the three-story house was numbered before it was transported to Shelter Island by barge.

The house was reassembled by shipbuilders on a foundation set on a knoll in the waterfront estate section along Peconic Bay. "You can see the water from just about every room," Moore said, noting two rooms overlook a grove of mature specimen trees.An original barn was brought over as well and is now a two-car garage with a loft. The restored home is built around a massive stone chimney, which opens to six fireplaces, Moore said, three on the first floor and three on the second. The largest - about 8 feet wide with a baking oven inside - is in the dining room. Other original details include double front doors, hand-blown 12-by-12-inch sash windows, hand-hewn beams, extra wide plank floors, built-in cabinets, front and rear staircases, and iron door latches.Current owner André Balazs, a hotelier whose properties include The Mercer in SoHo, the Chateau Marmont in Hollywood and the Sunset Beach Hotel on Shelter Island, had the home furnished with Japanese appointments, including handmade rice-paper lanterns. "André wanted to keep it simple, because the beauty of the house is the simplicity of it," Moore said.The kitchen, which has a wall of windows and open floor plan, is dressed with black cabinets and a maple butcher block.The second floor has a master suite and two large bedrooms, and the third floor has two large bedrooms. There are four bathrooms in the house: one on the first floor, another on the third, and two on the second floor.The unfinished basement has a wine cellar, laundry room, computer room and storage area.The shared dog-leg dock, reinforced by a sea wall, is one of the largest on the island.Location: Shelter IslandPrice: $6.999 million Taxes: $16,727Lot size: 1.80 acresSquare feet: 3,050Number of rooms: 9 Amenities: Waterfront with docking rights, central air conditioning, two-car garage with loft.

Sunday, May 07, 2006

Wineries on the North Fork: A Photo Tour

Wineries on the North Fork: A Photo Tour Many wineries dot Route 25 on the North Fork of Long Island. Find out when you can tour them and taste the different wines each produces.

Sellers Earn 16% More by Using an Agent

Technology is transforming how Americans buy and sell homes in unexpected ways, including how they work with real estate agents and brokers, according to one of the largest surveys of real estate consumers ever conducted. The study was released by the National Association of Realtors®.Nine out of 10 home buyers use a real estate agent in the search process, but use of the Internet to search for a home has risen dramatically over time, increasing from only 2 percent of buyers in 1995 to 77 percent in 2005; it was 74 percent in 2004. The next largest source of information for buyers is a yard sign, mentioned by 71 percent of buyers.When asked where they first learned about the home purchased, 24 percent of buyers identified the Internet, up strongly from 15 percent in 2004 and only 2 percent in 1997. Although most buyers use an agent to complete the transaction, 36 first learn about the home they buy from a real estate agent and 15 percent from yard signs; five other categories were 7 percent or less.The 2005 National Association of Realtors® Profile of Home Buyers and Sellers, based on more than 7,800 responses to a questionnaire mailed to a large national sample of consumers located through county deed records, is the latest in a series of surveys evaluating demographics, marketing and other characteristics of home buyers and sellers. NAR President Thomas M. Stevens from Vienna, Va., said the findings underscore the complexity of the home-buying process. “Buyers who use the Internet in searching for a home are more likely to use a real estate agent than non-Internet users, and consumers rely on professionals to provide context, negotiate the transaction and help with the paperwork,” said Stevens, senior vice president of NRT Inc. “The real estate industry today bears little resemblance to the way we did business 10 years ago. It is hard to find another industry that has adopted technology so readily to its customers,” Stevens said. “Realtors® have invested a lot of time and money in building information technology, and because of these efforts, more consumers than ever are using the Internet in their home search.”The survey shows 81 percent of buyers who use the Internet to search for a home purchase through a real estate agent, while 63 percent of non-Internet users buy through an agent; non-Internet users are more likely to purchase directly from a builder or an owner they knew in advance of the transaction.“We find that the level of for-sale-by-owners is on a sustained decline and is now at a record low. In addition, a growing share of FSBO properties are not placed on the open market – they’re private transactions,” Stevens said.
A clear downtrend in FSBOs has been seen since that market share experienced a cyclical peak of 18 percent in 1997. Only 13 percent of sellers conducted transactions without the assistance of a real estate professional in 2005, and 39 percent of those FSBO transactions were “closely held” between parties who knew each other in advance, up from 32 percent in 2004. The FSBO market share was at 14 percent in both 2003 and 2004. NAR began tracking the FSBO market in 1981; the record was 20 percent in 1987.“In reality, the term ‘FSBO’ is a misnomer when used to broadly describe homes sold directly by owners. Since two out of five of these transactions are between related parties, and those properties are not placed on the open market, we believe that ‘unrepresented sellers’ would be a much more accurate term to describe this segment,” Stevens said. The median home price for sellers who use an agent is 16.0 percent higher than a home sold directly by an owner; $230,000 vs. $198,200; there were no significant differences between the types of homes sold. “While many unrepresented sellers are motivated to save on paying a commission, we think the price difference speaks for itself,” Stevens said. “Owners without professional assistance also have problems in understanding and completing paperwork, prepping the home for sale, getting the right price and selling within the time planned.”Survey data don’t explain the price difference, but Stevens offered some context. “Agents know best how to prepare a home and maximize value, agents provide broader exposure to the market and are more likely to generate multiple bids, and the portion of sales that are between private parties are likely to be at a lower price than those on the open market.”“The housing market today contrasts sharply with predictions a decade ago that the Internet would ‘disintermediate’ real estate agents, including speculation that NAR membership would fall in half. In reality, it’s grown dramatically – selling real estate is not like selling a book or buying an airline ticket,” he said. Realtor.com was the most popular Internet resource, used by 54 percent of buyers, followed by multiple listing service (MLS) Web sites, 50 percent, real estate company sites, 38 percent, real estate agent Web sites, 31 percent, and local newspaper sites, 15 percent; other categories were smaller.
Married couples make up the largest share of the housing market, accounting for 61 percent of transactions. Single women purchase 21 percent of homes while single men account for 9 percent. Unmarried couples were 7 percent of the market, and 2 percent were listed as other. In 2004, single women were 18 percent of buyers and single men were 8 percent.The typical buyer walked through nine properties, searched eight weeks to buy a home and moved 12 miles from their previous residence. The typical seller placed their home on the market for four weeks, had lived in it for six years, moved 15 miles to their new residence and previously owned three homes, including the one just sold.NAR’s senior economist Paul Bishop said both buyers and sellers use traditional methods to choose a real estate agent. “Word-of-mouth recommendation is the most common way to learn about real estate professionals,” Bishop said. “The most important criteria, whether you’re buying or selling, are the individual agent’s reputation and their knowledge of the local market.”In finding a real estate professional, 44 percent of buyers were referred by a friend, neighbor or relative, 11 percent used an agent from a previous transaction, 7 percent found an agent on the Internet, 7 percent met at an open house and 6 percent saw contact information on a “for sale” sign. Six other categories accounted for smaller shares each.The most important factor in choosing an agent was reputation, according to 41 percent of home buyers, followed by an agent’s knowledge of the neighborhood, 24 percent. In terms of desired qualities in an agent, three categories were rated as very important by more than nine out of 10 buyers: knowledge of the purchase process, responsiveness and knowledge of the market. Of buyers who use an agent, 63 percent choose a buyer representative. Satisfaction with real estate agents is very high, with 85 percent of buyers saying they were likely to use the agent again.Seller responses are comparable: 43 percent chose agents based on a referral by a friend, neighbor or relative, and 28 percent used their agent previously; 10 other categories were 5 percent or less. Fifty-seven percent of sellers said reputation was the most important factor in selecting an agent, followed by their knowledge of the neighborhood, 17 percent. Eighty-two percent said they were likely to use the same agent again or recommend to others.Four out of ten respondents are first-time buyers, a finding that is consistent for more than a decade. The median age of entry-level buyers is 32 years, also typical over time, and the household income was $57,200. They made a downpayment of 2 percent on a home costing $150,000, but 43 percent purchased with no money down. Of first-time buyers who made a downpayment, 23 percent received a gift from a friend or relative.
The typical repeat buyer is 46 years old and had a household income of $83,200. They placed a downpayment of 21 percent on a home costing $235,000, but 11 percent of repeat buyers paid cash for their home. In all, 94 percent of buyers and sellers believe their home purchase is a good financial investment.“To underscore the value of housing as an investment, all you have to do is look at the difference in how repeat buyers purchase their next home – the wealth effect of homeownership provides the greatest source for their downpayment, which is significantly larger,” Bishop said. Aside from sellers who pay cash for their new home, 66 use the equity from their previous home for a downpayment.The most important factors in choosing a location to purchase a home are neighborhood quality, cited by 68 percent, close to a job or school, 43 percent, close to family or friends, 36 percent, and the school district itself, 23 percent; seven other categories were under 20 percent.NAR mailed an eight-page questionnaire to a national sample of 145,000 home buyers and sellers, based on county records, who purchased their homes between August 2004 and July 2005. It generated 7,813 usable responses; the response rate was 5.4 percent.

Tuesday, May 02, 2006

Things to do on Long Island

Parks, and Beaches;

Cupsogue Beach County ParkLocated in Westhampton Beach. Swim in the Atlantic Ocean. Also available: scuba diving, fishing, diving, and camping. You'll find directions and a phone number to call for more information.
Fire Island National SeashoreThere are 32 miles of ocean beaches, all open to the public. General swimming areas include: Robert Moses State Park, Lighthouse Beach, Sailors Haven, Barrett Beach/Talisman, Watch Hill, and Smith Point County Park. Learn about available facilities.
Jones Beach State ParkLocated in Wantagh and open year round. Six and a half miles of ocean beach and a half mile of bay beach. Also, two swimming pools. Available activities include deck games and miniature golf. Get directions and additional information here.
Meschutt Beach County ParkLocated in Hampton Bays. Swim in the Great Peconic Bay. Activities include: camping, windsurfing, and sailing. You'll find directions and a phone number you can call for more information.
North Hempstead Parks and PoolsFind parks and pools located in the Town of North Hempstead.
Orient Beach State ParkLocated in Orient. Open all year. Swimming season runs from late June through early September. Rent a bike and take an environmental tour at this State Park. Find out more on the NYS Parks, Recreation, and Historic Preservation Web site.
Smith Point County ParkLocated on Fire Island. This is the largest oceanfront park in Suffolk. Activities include: camping, scuba diving, surfing, and saltwater fishing. Find directions, and more information about facilities and activities. A hotline provides more info.
Sunken Meadow State ParkLocated in Kings Park, on the Long Island Sound. Open year round. Available activities include swimming, hiking, horseback riding. You'll also find three nine-hole golf courses and a driving range. Find out about other facilities.
Wildwood State ParkLocated in Wading River. Open year-round. Swim in the Long Island Sound. Activities include fishing, hiking, and cross-country skiing. Trailers and tent sites are available for campers.

Monday, May 01, 2006

New York State Housing Statistics

New York housing sales gain strength in March
Albany – April 25, 2006 – Sales of existing single-family homes in New York gained strength in March compared to the previous month, according to preliminary single-family sales data accumulated by the New York State Association of REALTORS. While sales were up, the preliminary data showed a decline in the median sales price from February 2006.
The March 2006 sales total of 6,766 increased 24 percent compared to the February 2006 sales total of 5,456. The March 2006 sales total fell 3.4 percent from the March 2005 sales total of 7,007.
The statewide median selling price of $260,000 decreased by 6.5 percent compared to February 2006, which recorded a median sales price of $278,000. The median remained unchanged in March 2006 compared to the same period a year earlier.
Sales gains were reported in 24 counties in March 2006 compared to the same period a year earlier, while 43 counties reported growth from the previous month. Montgomery County led the state in sales growth percentage compared to March 2005 with a 240-percent increase. Both Lewis and Schuyler counties recorded an increase of 100 percent from February 2006.
Forty-seven counties reported gains in median selling price in March 2006 compared to the same period a year earlier and 28 counties reported gains from February 2006. Franklin County led the state in median sales price growth compared to March 2005. Schuyler County recorded the largest growth in median sales price from February 2006.
“The March data support our statewide market forecast, which projects a slowing down from the historically high sales levels of 2005 and 2004,” said Charles M. Staro, NYSAR chief executive officer. “The New York housing market will maintain strong sales levels with price appreciation returning to single-digit growth.”