Sean Stark

October 17th, 2008

First time buyers (as well as home buyers seeking a second property*) might want to look into the SONYMA Remodel New York loan program.

With an increase in potential repairs sometimes present in homes being sold in a distressed market, this program has some highlights that could make sense to homebuyers on the east end (North fork and Hamptons) of Long Island. The following requirements are present with the Remodel New York program:

Ratios:

33-38%

40-45% with 3% down or more;

Income:

$97,100-$111,665 in non target areas

$116,250-$135,940 in target areas

*Target areas can be clarified when calling SONYMA directly at 1-800-382-HOME. Have the property address ready.

Purchase Price Limits:

$550k in non target area

$671k in a target area

Good credit is required, and the site offers a list of designated lenders ( although there seem to be some…missing lately).

* This program is not available to owners of residential investment property, or vacation property. A “first time buyer” will not have owned a home in the past three years; this program IS available to non-first time buyers in Federally designated target areas, with the above limitations.

Check out some of the other loan programs available, and keep a copy of this glossary handy!

This appears to be a great loan program for first time buyers seeking a good “buy”- as properties that need a bit of work often are.

Let us know when you’re ready to look!

www.optionsrealty.com

THESE PURCHASE PRICE LIMITS ARE ONLY AVAILABLE FOR LOANS RESERVED ON OR AFTER MAY 20,2008 AND APPROVED BY SONYMA BY DECEMBER 15, 2008.

Authored by: Options Realty
October 14th, 2008

The following data has been recorded for Lis Pendens filings between September 1, 2008 through October 10, 2008 on the east end of Long Island (North fork and Hamptons, New York):

NORTH FORK, LONG ISLAND LIS PENDENS REPORT:

BAITING HOLLOW, NEW YORK- 1

CALVERTON, NEW YORK- 2

CUTCHOGUE, NEW YORK- 1

LAUREL, NEW YORK- 1

MATTITUCK, NEW YORK- 4

PECONIC, NEW YORK- 1

GREENPORT, NEW YORK- 2

RIVERHEAD, NEW YORK- 6

SOUTHOLD, NEW YORK- 1

TOTAL NORTH FORK, NEW YORK: 19

SOUTH FORK (HAMPTONS) LONG ISLAND LIS PENDENS REPORT:

EAST HAMPTON, NEW YORK- 8

EAST QUOGUE, NEW YORK- 1

HAMPTON BAYS, NEW YORK- 6

SAG HARBOR, NEW YORK- 6

SOUTHAMPTON, NEW YORK- 4

WESTHAMPTON, NEW YORK- 1

BRIDGEHAMPTON, NEW YORK- 2

WATERMILL, NEW YORK- 1

MONTAUK, NEW YORK- 1

TOTAL HAMPTONS, NEW YORK: 29

figures obtained from the Long Island Real Estate report.

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Authored by: Options Realty
October 2nd, 2008

The following report provides all CLOSED properties in selected areas of the North Fork of Long Island from July 1, 2008 through September 30,2008, as reported to the MLSLI. Asking price is in regular font, closed price is in bold.

This report does not contain condos/mobile home sales.

AQUEBOGUE, NY HOMES CLOSED

Closed: 6

$379k/$350k; $449k/$435k; $569,9k/$469,9k; $599k/$525k; $699k/$572,9k; $2,499m/$2,180m

Homes currently available for sale in Aquebogue, NY: 72

BAITING HOLLOW, NY HOMES CLOSED

Closed: 6

$409,9k/$390k; $479,9k/$450k; $519,9k/$519,9k; $534,9k/$540k; $549,9k/$549,9k $849,9k/$825k

Homes currently available for sale in Baiting Hollow, NY: 57

CALVERTON, NY HOMES CLOSED

Closed: 2

$339k/$334k; $499k/$350k

Homes currently available for sale in Calverton, NY: 17

CUTCHOGUE, NY HOMES CLOSED

Closed: 9

$399k/$365k; $475k/$437k; $498,5k/$492,5k; $595k/$560k; $799k/$700k; $799k/$735k; $1,099m/$970k; $2.149m/$1.650m; $2.888m/$2.225m

Homes currently available for sale in Cutchogue, NY: 48

EAST MARION, NY HOMES CLOSED

Closed: 6

$395k/$395k; $399k/$370k; $550k/$545k; $729k/$729k; $1.395m/$1.275m; $1.9m/$1.9m

Homes currently available for sale in East Marion, NY: 17

GREENPORT, NY HOMES CLOSED

Closed: 5

$379k/$370k; $480k/$460k; $499k/$460k; $650k/$625k; $675k/$630k

Homes currently available for sale in Greenport, NY: 46

JAMESPORT, NY HOMES CLOSED

Closed: 5

$369k/$340k; $619k/$619k; $619k/$580k; $880k/$865k; $995k/$933k; $1.250m/$1.07m

Homes currently available for sale in Jamesport, NY: 29

MATTITUCK, NY HOMES CLOSED

Closed: 12

$379K/$352,3K; $415K/378,5K; $449K/$409K; $449,9K/$425K; $450K/$430K; $539K/$517,5K; $579K/$565K; $645K/$625K; $699K/$612,5k; $975k/$750k; $1.85m/$1.85m; $2.35m/$2m

Homes currently available for sale in Mattituck, NY: 76

ORIENT, NY HOMES CLOSED

Closed: 6

$769,5k/$755k; $900k/$900k; $929k/$915k; $950k/$900k; $975k/$975k; $1.45m/$1.35m

Homes currently available for sale in Orient, NY: 21

LAUREL, NY HOMES CLOSED

Closed: 3

$449k/$407k; $739k/$642,5k; $2.95m/$2.7m

Homes currently for sale in Laurel, NY: 16

RIVERHEAD, NY HOMES CLOSED

Closed: 15

$180k/$180k; $239k/$225k; $253k/$264,5k; $279k/$260k; $299k/$288k; $299k/$230k; $299k/$275k; $329,9k/$292k; $349k/$310k; $350k/$340k; $399k/$395k; $419k/$365k; $459k/$380k; $499k/$399k; $674,9k/$559,9k; $674,9k/$590k

Homes currently for sale in Riverhead, NY: 145

SOUTHOLD, NY HOMES CLOSED

Closed: 13

$375k/$344k; $449,9k/$435k; $449,9k/$447,5k; $529k/$465k; $535k/$480k; $599k/$599k; $599k/$575k; $649k/$605k; $785k/$730k; $800k/$785k;$897,9k/$800k; $1,150m/$1.06m; $1.995m/$1.710m

Homes currently for sale in Southold, NY: 119

To view homes currently for sale in all North Fork, Long Island villages, click on the “north fork homes” tab and begin your search.

For information on closed properties in any North Fork village, please contact Options Realty 631-727-2227

www.optionsrealty.com

All information, while deemed reliable, may contain errors. Options Realty is not responsible for information incorrectly recorded in the MLSLI. The above information is provided as a tool; contact a real estate professional for specifics on your own property, or a property of interest.

Authored by: Options Realty
September 29th, 2008

The following information was gathered from the MLSLI in order to provide an update on sales activity for North Fork,
Long Island retirement/vacation/55 and better condominiums.
*is closed pricing. All other pricing is list price.

UNDER CONTRACT/AVAILABLE FROM 07/01/2008 THROUGH 09/30/2008:

AQUEBOGUE, NY:

Silver Village
1 sold. $340k*
1 available. $389,9k.

BAITING HOLLOW,NY:

The Knolls
1 sold. $359k
6 available. $375k;$380k;$385k;$399k;$439k;$439k

The Bluffs
0 sold.
3 available. $449k;$498,8k;$549,9k

CALVERTON, NY:

Calverton Hills
1 sold. $159k*
10 available. $144,9K;$149K;$165K;$170K;$174,9K;$179K;
$189K;$189K;$189K$199K

Foxwood Village
1 sold. $165k.
18 available. $153,5k;$159k;$168k;$179k;$185,9k;
$199,5k;$219,9k;$220k;$225k;$225k;$229,9k;$239,9k;
$240k;$249,9k;$270k;$310k;$319k;$349,9k

Windcrest East
0 sold.
2 available. $589,9k; 589,9k

GREENPORT, NY

Driftwood cove (co-op)
0 sold
2 available. $180k; $199k

Breezy Shores (co-op)
0 sold
2 available. $369k;$369k

Pheasant Run Estates
1 sold. $320k*
1 available. $459k

Sterling Harbor (co-op)
1 sold. $765k
1 available. $695k

Oyster Point
0 sold.
1 available. $725k

JAMESPORT, NY

Maidstone Landing
0 sold.
9 available. $699k;$799k;$845k;$849k;$850k;$879k;$895k;$947,9k;$1,275m

RIVERHEAD, NY

Mill Pond
3 sold. $294k;$299k;$299K
4 available: $269,9K; $295K;$299K;310K

Willow Pond
1 sold. $298,888k
10 available. $269,9k;$295k;$299k;$314,9k;
$334k;$389k;$389k;$395k;$406,5k;$485k

Sunken Pond
0 sold.
7 available. $329k;$375k;$382k;$390k;$399,9k$399,9k;$429k

Saddle Lakes
0 sold.
5 available. $389,9k;$399k;$399k;$349k;$532,5k

The Highlands
0 sold.
1 available. $574,9k

SOUTHOLD, NY

Founders Village
0 sold.
0 available.

Colonial Village
1 sold. $160k
2 available. $187,8k;$279,7k

The Cove
0 sold.
1 available. $899k

For additional details, click on North Fork Condos, and enter “condo”, and towns of interest. For any questions regarding association dues, age restrictions, and taxes, call Options Realty at 631-727-2227 or email laurie@optionsrealty.com

Authored by: Sean Stark
September 11th, 2008

I want to help promote this great effort by a great few in celebrating and taking part in this local sailing event. As you may or may not know, we are avid sailors here in our local waters of Eastern Long Island and the Peconics. So it is of great interest to see something from former sailing generations being polished up for us today. The Brooklyn Ocean Challenge Cup, 2008.

FOR IMMEDIATE RELEASE:

Chinese Y.C. and Old Cove Y.C. to host centennial
Brooklyn Ocean Challenge Cup – October 3rd, 2008

Greenport, New York, September 8th, 2008 – The Chinese Y.C. and Old Cove Y.C. will host the centennial Brooklyn Ocean Challenge Cup on October 3, 2008. The race originating in Greenport Harbor and around Block Island will revive the historic CYC perpetual Brooklyn Ocean Challenge Cup, first contested in 1905.

The Cup is recognized as one of contemporary yachting’s inaugural ocean challenges and regarded amongst the most prized Long Island yachting trophies. An account of the 1909 race deemed the race “the blue ribbon of the sea for small sailboat ocean racing”. In 1922 the New York Times described the cup as “one of the most sought for of the metropolitan trophies”.

The history of the esteemed Brooklyn Ocean Challenge Cup dates back to 1904 when the late William Randolph Hearst, then commodore of the prestigious Brooklyn Y.C., deeded a magnificent silver trophy for open ocean racing to the club. The first race, from New York to Hampton Roads, Virginia, took place in 1905 and was won by Frank Maier’s Tamerlane.

Following the Great Depression the competition landed “on the beach.” Indeed the Cup was reported lost or destroyed in the American Y.C. fire of 1952. Fortunately, the reports turned out to be groundless, but they received sufficient attention to raise the Brooklyn Ocean Challenge Cup to a somewhat legendary level. Actually it was safe in the possession of James Heatherton. Heatherton was the sole surviving member, officer and director of the Brooklyn Y.C.

In 1953 Mr. Heatherton deeded the Cup to the CYC as a perpetual trophy for long distance sailing races. The Cup returned to competition the following year. The last competition for the cup was in 1979 and was won by Pat Malloy’s Mandrake. Since 1905 the cup has been under the auspices of more than 10 yacht clubs has been contested for 26 times. A full account of the Cup’s race history is available at www.brooklyncup.com.

The centennial race is being organized by the CYC and OCYC in cooperation with Shelter Island Y.C., the Village of Greenport and the East End Museum and Maritime Foundation. In addition to the CYC perpetual Brooklyn Ocean Challenge Cup the Village of Greenport will sponsor the Greenport Perpetual Trophy, awarded to the yacht taking line honors. SIYC will sponsor a team racing trophy. The organizers are enthusiastic that the BOCC will become an annual event.

CONTACT:
CYC Perpetual Brooklyn Ocean Challenge Cup
Andrew Wolf
917.464.5724
BOCC@chineseyachtclub.com
www.brooklyncup.com

Regatta / Registration Information
Chris Dowling
917.854.5971
chris@taityachts.com
www.brooklynoceanchallengecup.com

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