Archive for December, 2012

Little Gull Island And Lighthouse: Gavel fell at Auction for $381,000

Friday, December 28th, 2012

Yet another sign of an improving Real Estate Market on the East End:

The gavel finally fell on a historic landmark known to any LI Sound Sailor. According to the GSA, (General Services Administration) the 1-acre rocky Little Gull Island (some 8 miles east of Orient Point) and its 450 Ft2, 1869 built Lighthouse sold for $381,000 on October 25th 2012.
According to Newsday, the new owner (who was in competition with the New London Maritime Society which owns New London Harbor Lighthouse) is Mr. Fred Plum, owner of Plumb products machine tool company in Woodbury, CT.

According to WIKIPEDIA The US Coast Guard has identified Little Gull Island Light as one of its Historic Light Stations in New York.[7] In 2009 Little Gull Island Light was put up for sale under the National Historic Lighthouse Preservation Act.[8]

 

But for all of you who missed this one and still cherish the dream of owning on of this country's historic maritime relics not all is lost: the Manana Island Signal Station is up for auction by the GSA and bidding stands at a mere $30,000 – and all you need is a $5,000 deposit to participate…

The following can be your's according to the GSA website:

On top of Manana Island, 10 miles off the coast of Maine, is the former Coast Guard Signal Station. This maritime setting is picturesque with panoramic views of the ocean, rolling fields and Smutty Nose Island. A short boat ride across the bay is Monhegan Island which is home to fisherman, artist & writers.

The buildings on this site are in need of restoration work to preserve their historic value to the Monhegan Historical District, This includes a two story, white, wooden, clapboarded, four bedroom former Keeper’s quarters(1855) on a brick foundation with a brick cistern in the basement and an attached deck. Also included is a brick Sound Signal/Engine House(1855) with a wooden tower and a shed-like attachment to the north of the tower
The lot is approximately 6400sf +/-.Just bring your sweater this time of year…
 
 
 
 
 
and as always – feel free to call any of your friends at Town and Country Real Estate for professional information on this or any other Real Estate matter!

 

Happy 2013.

HOME SALES CONTINUE THEIR ASCEND

Thursday, December 27th, 2012

The US Commerce Dept. Reported today November single family home sales rose 4.4% to a seasonally adjusted 377,000 unit annual rate. A performance not seen since April 2010. A further testament to the strength in the housing market, the median Home Sale price jumped nearly 15% year to year for November.

New home building and the pace of new home sales is that of the height of the market for sales actually back in 2005.

T&C has bloged our opinion that the US Housing Markets will be the one shining beacon leading the recovery.

                                                                         Are you in?

HOT OFF THE PRESS

Wednesday, December 26th, 2012

The S&P/Case-Shiller index gained 0.7% in October on a Seasonally adjusted basis. As you know, the Case-Shiller index is a compost index of 20 Metropolitan areas throughout the US.

Single Family Home Sale prices in the 20 cities rose 4.3% in 2012 from 2011, surpassing predictions of a 4.0 increase.

Case-Shiller is one of the most widely recognized Home Sale surveys. This October Report, combined with existing data on housing starts, builder stats, and our T&C Homesales Reports confirm the housing market is poised for a strong performance in 2013.

IT’S ELEMENTARY!!!

Friday, December 21st, 2012

IT DOESN’T MATTER IF YOU’RE SELLING SUITS, JEWELRY, CARS OR HOMES… THE PRICE OF ANYTHING IS DICTATED BY SUPPLY & DEMAND.
 
TOWN & COUNTRY HAS BEEN BLOGGING ABOUT THE FACT THAT ACTIVITY LEVELS ARE CONSISTENTLY INCREASING AND INVENTORY LEVELS HAVE BEEN DECLINING. YOU CAN FINISH THE SENTENCE … THIS TREND WILL ULTIMATELY YIELD PRICE INCREASES. WHEN AND TO WHAT EXTENT WILL BE DETERMINED BY SPECIFIC MARKETS WITHIN MARKETS AND THEIR SPECIFIC SUPPLY & DEMAND RATIO.
 
NATIONAL ASSOCIATION OF REALTORS RELEASED THEIR NOVEMBER REPORT WHICH WAS THE STRONGEST IN SEVERAL YEARS. PREVIOUSLY OWNED HOME SALES ROSE 5.9% FROM OCTOBER AND 14.5% FROM NOVEMBER 2011 TO A SEASONALLY ADJUSTED RATE OF 5.04 MILLION UNITS. IT WAS ONLY THE 3RD TIME SINCE JULY 2007 THAT HOME SALES WERE OVER THE 5 MILLION MARK.
THE NUMBER OF HOMES FOR SALE FELL TO THE LOWEST LEVELS SINCE THE END OF 2001 TO 2.03 MILLION. ACCORDING TO NAR, INVENTORIES HAVE BEEN STEADILY DECLINING FOR THE PAST 3 YEARS.
 
NATIONALLY, THE INCREASED DEMAND AND DIMINISHING SUPPLY HAVE LEAD TO PRICE INCREASES IN OCTOBER OF 0.5% FROM SEPTEMBER AND 5.6% FROM THE PRIOR YEAR.
 
AGAIN, ARE YOU IN?

Sag Harbor Long Wharf sold to Sag Harbor Village

Friday, December 21st, 2012

On December 18th, the Suffolk County Legislature agreed to sell the Long Wharf to the Sag Harbor Village for $1. It gives Sag Harbor full control of the Long Wharf. It also makes the village financially responsible to cover the long-term costs of caring for the facility.

It was those costs, that led former Suffolk County Executive Steve Levy’s office to suggest Sag Harbor Village take over the wharf. “I am happy the village is willing to take it,” Jay Schneiderman said.

More than two years of back-and-forth, The Suffolk County Legislature at first would not agree to sell the wharf and the adjoining Windmill Beach to the village, citing its potential value. There were also discussions about the village sharing revenues generated by the wharf — used to dock luxury boats in the summer season — with the county. But according to Sag Harbor Village Mayor Brian Gilbride, the village’s basic upkeep of the wharf often can exceed the $30,000 to $90,000 generated by dockage.

Eventually, with the legislature easing the costs of Long Wharf would probably be best by giving it to Sag Harbor Village. On Tuesday Schneiderman was able to secure a 16-0 vote in favor of the sale. But even that was preceded with yet another discussion about the wharf’s value, according to Schneiderman.

Gilbride said he believes it is in Sag Harbor’s best interest to control the wharf. “It is a big part of our history and it should be ours,” he said.
Gilbride would like the Sag Harbor Village Board of Trustees to create a reserve account dedicated to the wharf, placing about $100,000 annually into it.
 

T&C Holiday Party

Thursday, December 20th, 2012

Town & Country’s Annual Holiday Party was another smashing success! 
2012’s party was held at the Southampton Social Club.  The SCC was dressed beautifully for the holidays.

We would like to extend special thanks to Ian Duke, the owner of this fine establishment and Scott Kampf, the Executive Chef for orchestrating such an outstanding event.  The food was phenomenal!  We had wonderful passed hors D’oeuvres along with delicious filet mignon, grilled tuna, chicken with cranberry & apple stuffing and butternut squash ravioli.  Awards and bonuses were proudly gifted.  We just enjoy this time of year and the opportunity to thank the very special Associates and staff at T&C!

A good time was had by all!

HOUSING VALUES INCREASE GREATEST IN 6 YEARS

Thursday, December 6th, 2012

If you follow our T&C Blog www.1TownandCountry.com/BLOG, you have been reading about increases in sales contract, home sales, building permits, and decrease in inventories… all of which result in home prices going up!
Home sales in October 2012 rose 6.3% from October 2011… that’s the greatest year to year gain since July 2006.. a key measure and important future indicator.
The study as posted by Core Logic went on to indicate the month to month decreased (September to October) but that is a function of seasonality.. nearly every October numbers are lower than September sales figures
100 metro areas are studied and 83 saw increases.. in Arizona prices rose a staggering 21.3% year over year.
The National Association of Realtors stated the number of homes available are at a 10 year low!
Additionally, the number of contracts signed in October were also at a 6 year high.
Supply & demand in that fashion dictates price increases.
So, are you in?