Not all real estate licensees are Realtors, although many mistakenly use the term synonymously. There are presently more than 1.84 million active licensed real estate professionals in the United States of which 1 million are Realtors. On Shelter Island, only two agencies, my office and one other agency, are Realtors. As a living and breathing Standard of Practice, it continues to be amended. Continue Reading
Shelter Island and the Local Economy
The biggest news this week on Shelter Island was the scheduled closing of the local Chase Bank branch at 48 North Ferry Road at the end of this September. The Shelter Island branch of Capital One, which had been located at 29 West Neck Road, closed about a year ago. These two corporate banking institutions exiting Shelter Island would leave just one bank standing here, East End based Continue Reading
Spring Returns to Shelter Island – Mar 29, 2018
Each year at this time, we all yearn for signs of springtime returning to Shelter Island. Crocuses popping their heads up in late February brought hope only to be dashed by another Nor’easter. Two Sundays ago, I was showing a listing of mine in Dering Harbor Village to a couple who were game to trudge through over a foot of fallen dead leaves to explore the contours of the land. They got Continue Reading
House-Hunting Tips
House Hunting Tips – August 24, 2017 During the summer, many customers visiting Shelter Island dip their toes into house-hunting waters. Each customer has a different approach to searching for real estate, something that has evolved with the advent of arm-chair shopping online. Before the internet, most customers would typically call a real estate agent and share their budget, desires Continue Reading
Before You List
Before you List… Many homeowners do not realize how important it is to consider the condition of their homes before listing their property for sale. After an offer is accepted, most buyers hire an independent inspector for an examination. This is where a saavy seller can take preliminary steps to protect their sale so that it has a better chance of proceeding to contract without Continue Reading
Valentines Day 2018 and 4th Quarter 2017 Statistics
The 2017 statistics paint a favorable portrait of the Shelter Island real estate market with: 62 transactions totaling $123,636,299 and a median price of $852,500, representing a 2.08% increase to the 2016 annual total of $121,106,996. Because of the time it takes the County to record sold transactions, many entities that report on sales statistics often do so with incomplete information, which Continue Reading
Thanksgiving 2017
With nearly two months completed during the fourth quarter of 2017, the market on Shelter Island has been brisk with approximately $23M in sold homes and approximately $12M in properties in contract, based on listed prices, for this period so far. The activity is consistent with 2016 for the same time frame, with Post Labor Day activity again proving to be more fruitful than Continue Reading
Columbus Day 2017
The real estate market on Shelter Island in the last 4 weeks since Labor Day has been productive for sellers and buyers alike, with 14 homes in contract and 4 homes sold. The strongest sector continues to be homes up to $1M inland while competitively priced waterfront properties which had been on the market in some cases for over 2 years found enthusiastic buyers. Since July Continue Reading
Labor Day 2017
There was a palpable shift in real estate activities this past week. Ensconced in rentals, tenants who have children preparing for school got in their last licks at summer vacation, and in between all their activities, toured listings for sale to consider, and dream of as the place they might call home in time for the summer of 2018. Sellers, also trying to enjoy what might be their last summer Continue Reading
Final 2nd Quarter Sales Statistics
Each quarter throughout the year, assorted real estate entities publish statistics for each Town on the East End of Long Island, pulling numbers from a variety of sources. The statistics are based on: 1) when a deed is recorded by the County. The delay between the actual closing and when the deed is recorded can be weeks 2) data from a multiple listing service or “MLS.” Because East End Continue Reading
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