To an entranced audience a few summers ago at a cocktail party, one of the guests described how he planned to lift his 2.5 story home from its foundation and float it across the harbor to a new site. Disconnecting a structure from its foundation is simple enough, we all said, but placing it on a barge and floating it on water to a new location seemed like something out of the television show Continue Reading
Financing a Home Purchase
Each year, for five seasons, I showed a couple an array of summer rentals which they would rent for Memorial Day to Labor Day. The rental market was gradually shifting from a full season market to short term, and there were fewer options in their price range. Their sweet spot was the quintessential cedar shake farmhouse with vintage appointments, popular with other rental customers as well. I Continue Reading
Connecting with Nature Through Real Estate
At sunrise after a light rainfall a few weeks ago, my two rambunctious dogs burrowed under the fence and set out on a big adventure. Most often they gallop to their favorite spot, deep in the woods to the wetlands, where they delight in rolling through a fertile combination of mud and deer droppings, then reappear, beaming with pride in their dramatically altered fur coats. On this occasion, Continue Reading
Memorial Day Weekend 2017
One week before Memorial Day, there was a noticeable change throughout Shelter Island, with foliage filling in for a full green canopy, flowers blooming, boats returning to surrounding waters, and seasonal restaurants and shops now open for business. The business of the real estate market continues to be brisk, with customers taking advantage of historically low interest rates: 30 year Continue Reading
Penelope Moore Land Exclusives
Shelter Island is full of nature’s great treasures, beginning with the pristine blue saltwater that surrounds us, and within, the meadows and forests in our preserves that include Mashomack, the forty acres in the middle of Ram Island, and the vast green open spaces that are a result of the 2% Community Preservation Trust transfer tax. The 2% transfer tax is a good cause that buyers contribute to Continue Reading
2016 Holiday Season
2016 was a year of starts and occasional pauses in the Shelter Island real estate market, as can often be the case in second home markets. Much of the year was robust with forward planning buyers researching the market and poised to act on a property meeting their criteria. New home construction and spec homes improved in 2016; this category frequently signals confidence in the market. Post Continue Reading
Thanksgiving 2016
This Thanksgiving season, those involved in the real estate market on Shelter Island have much to be thankful for. The third quarter 2016 showed an increase of over 23% compared to the same period in 2015. 2016: 19 sales totaling $33,468,000, with a median price of $920,000 2015: 24 sales totaling $27,131,339 with a median price of $792,500 Some of the highlights of the third quarter Continue Reading
Labor Day 2016
The summer real estate market on Shelter Island has been brisk indeed. The weeks leading to Memorial Day fast tracked certain transactions. In between beach and BBQs, customers, some of whom had been shopping for a home off the island, decided Shelter Island is a good place to invest their real estate dollars, and placed offers. Here are a few highlights: 121 North Ram Island Drive, 2.6 Continue Reading
Shelter Island Market Report Late August
With the last two weeks of the summer season into full swing, the activity in the real estate sector has gone from very busy to a fever pitch, with many customers aiming to view properties before their vacations have ended. Scheduling has always been a challenge in real estate, but summertime requires more finesse. This time of year, sellers and their families are utilizing their properties for Continue Reading
August and the Town on Short Term Rentals
The pace of real estate has increased as August has progressed, with showings, offers, properties going into contract, and, over the past week there were two properties that sold and closed. One closing was a 5,400 + /- sq. ft. harbor front in the estate section, two lots comprising three acres with over 525 ft. of shoreline, much of it sandy, bordered by a walkway and deck with a two story Continue Reading
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