Apr
13
Here is today’s recent home sales summary for Mariners Harbor.
Posted by alicciardello under For Buyers, For Sellers, Mariners Harbor, Regional News
For recent home sales in your community you can log onto RealEstateSINY.com and go to the values tab.
Address Sale Price Sold Date
51 Bush Ave Staten Island, NY 10303 $220,000 06/24/2007
82 Erastina Pl Staten Island, NY 10303 $355,000 08/16/2007
85 Erastina Pl Staten Island, NY 10303 $412,000 11/30/2007
96 Bush Ave Staten Island, NY 10303 $260,000 08/20/2007
68 Van Pelt Ave Staten Island, NY 10303 $621,132 08/06/2007
109 Lockman Ave STaten Island, NY 10303 $320,000 10/17/2007
106 Lockman Ave STaten Island, NY 10303 $359,340 04/30/2007
27 Walloon St “” “” $360,000 05/15/2007
10 Van Name Ave “” “” $349,000 06/29/2007
361 Walker St $285,000 08/01/2007
226 Lake Ave $355,000 01/04/2008
(more…)
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Apr
6
Today’s Staten Island Real Estate Report splashes down in Clove Lakes.
Posted by alicciardello under Clove Lakes, For Buyers, For Realty Professionals, For Sellers, NY, Prices, Real Estate Data, Real Estate Talk, Regional News
Tree shaded streets are the theme in Clove Lake, and there is no shortage of recreational facilities and parks within walking distance of this community. The housing stock of Clove Lake is similar to many north shore communities on Staten Island. Additionally, there are several streets with tree lined dividers maintained by the New York City Parks Department. Most of these streets are located on the northern end of Clove Lakes. This little addition makes for pleasant and very naturally shaded atmosphere on the streets that feature them. Don’t get me wrong either, the streets that don’t have these dividers are considerably shaded as well. Clove Lakes also features œThe Fountains a mid-rise Co-op as you move south on Clove Road. Additionally, there are some town homes in the area, while not new constriction, they are fairly new homes, and can be quite affordable when compared to some of the older sections of Clove Lakes.
Clove Lake Park is an expansive park, and is a popular location for joggers. There are also row boat rentals in the park, for those who like boating. The Staten Island Zoo also calls Clove Lake its home where you can catch a glimpse of Staten Island Chuck, our famous groundhog, and New York City’s most accurate weather animal. Winters can be rough in Staten Island, and if you want to move your recreational activities indoors the YMCA and Memorial Ice Skating Rink are right in the neighborhood and are welcome alternatives to escape winters chill.
If you’re looking for a community that feature numerous recreational activities within walking distance of area homes, tree lined streets, and some affordable housing alternatives, Clove Lakes, Staten Island is a place to look.
Here are some recent sales around Clove Lakes:
Address(10310) Sold Price Sale Date
26 Ludwig St $540,000 08/15/2007
87 Raleigh Ave $401,500 04/27/2007
63 Raleigh Ave $505,000 01/07/2008
243 Myrtle Ave $400,000 06/21/2007
184 Raymond Pl $485,000 01/15/2008 (more…)
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Apr
5
Part of Staten Islands hill chain, Emerson Hill, Staten Island is located just south of the Staten Island expressway on the east shore. Emerson Hill is considered another slice in Staten Island’s luxury home market. There is quite a mix of new and older homes in this community. Most of the older homes sit on the northeastern side of the hill, which reminds me of Lighthouse hill. Consequently, many of these stately homes feature great scenery and offer a more easterly exposure, which can extend from Raritan Bay to Lower New York Harbor.
As you move southwestward, new construction and homes built after the 1950™s make their presence known. The newer construction features some beautiful homes that are nestled into the hill side, and some offer fantastic views that reach the Raritan Bay. If you™re looking to buy a home in this community be prepared to dig a bit deeper, as Emerson hill is considered prime real estate in Staten Island. However, there are sections of the hill which feature more affordability than other areas on the hill, like Emerson Valley. You can see some recent sales data below. Additionally, you can get information on home sold statistics at RealEstateSINY.com
Address (10304) Price Sale Date.
10 Overlook Dr $1,650,000 11/16/2007
796 Richmond Rd $419,210 08/14/2007
16 Baltic Ave $456,000 04/05/2007
59 Nicole Loop $990,000 07/09/2007
35 Wilsonview Pl $346,605 12/10/2007
9 Wilson Ter $555,000 04/19/2007
256 Rhine Ave $420,000 08/22/2007
43 Nicole Loop $1,125,000 10/16/2007
(more…)
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Apr
4
The United States Senate and reached an agreement on a new federal help homeowners facing foreclosure or assist in the purchase of a new home. The initial draft of the bill will include $10 billion in tax exempt bonds for local housing authorities to provide financial assistance to first-time homebuyers. Here in New York the allocation will probably help SONYMA (State of New York Mortgage Agency) back more first-time home buyer mortgages. The bill also is $4 billion for local governments to purchase foreclosed properties.
Another portion of the bill seeks to help individuals in purchasing foreclosed homes in the amount of $7,000. It also provides homebuilders and ability to write off losses against profits already made in previous years. For current homeowners, the bill allows for a $1000 right off for couples and $500 for individuals. There are also measures to increase funding for counseling services in order to help struggling families keep their home.
Will the housing market turn around on this news? Yes. Based on a fundamental supply demand curve if you remove inventory, this being foreclosed homes and removing potential foreclosures, you increase demand by removing this supply. However, home purchases will be based on the fundamental demographics of an area, mainly income demographics. A good real estate agent with knowledge of the marketplace will be able to explain how income demographics will factor into the sale of a particular home, and the market segment your home sits in.
It’s likely that continued measures are right down the pike, including pumping additional money into FHA. At the end of the day, the bail outs that we’ve seen in the last couple of months will probably be the biggest in U.S. history. I believe at the end of the day these are right measures to get the national economy back on track. However, this is also a costly lesson of what happens when exuberance exceeds principles. Consequently, while measure is needed, there’s no such thing as a free lunch either, and at some point down the road someone will have to pay.
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Apr
2
Today’s Staten Island Real Estate report features Randall Manor on Staten Island’s North Shore.
Posted by alicciardello under For Buyers, For Sellers, NY, Randall Manor, Real Estate Talk, Regional News
Old Cottages, Colonials, and most of all Tudors are found here. As a matter a fact there is more Tudor style homes in this community than anywhere on Staten Island. Randall Manor is another one of Staten Island hidden towns, and I think the local residents like it that way. I just hope they don’t get to upset with me by shining our real estate report’s bright light on the neighborhood. However, I can guarantee my review is glowing.
Much of Randall Manor is compromised of tree lined streets. There are quite a few homes that feature very unique architecture, which gives this neighborhood a very European feel,. However, the unique feature that stands out most in this neighborhood is the amount of slate roof homes, which just adds to the allure of this area. The history of the slate roof runs rather deep. Slate roof tops were part of the British colonial architectural influance in the colonies prior to the American revolution. Slate Quarrying was a major industry in Nortern Wales, Great Brittan, which frequently supplied the colonies with this extremely durable roofing material (60-100 year life).
If you’re looking for a unique home with old world charm, Randall Manor on Staten Island’s North Shore is a place to look. If you’re looking for a home to buy in Randall Manor or anywhere in Staten Island you can do a search to see all the latest real estate listings here.
Hope to see you soon.
Address Price Sold Date
23 Delafield Ave Staten ISland, NY 10301 $405,000 07/11/2007
107 Ridgewood Pl Staten ISland, NY 10301 $490,000 05/17/2007
115 Ridgewood Pl Staten ISland, NY 10301 $400,000 12/19/2007
24 Gregg Pl Staten ISland, NY 10301 $400,000 06/27/2007
318 Forest Ave Staten ISland, NY 10301 $415,000 07/20/2007
(more…)
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Apr
1
Today’s Staten Island Real Estate Report Features New Dorp Heights
Posted by alicciardello under For Buyers, For Realty Professionals, For Sellers, New Dorp, NY, Real Estate Talk, Regional News
It seems like New Dorp Heights has adopted this name over the years. The area is also known as Egbertville. However, it does seem a little bit more posh to call it New Dorp Heights. The area is also where I called home for most of my child and young adulthood. The area is mostly composed of single family detached homes constructed from the mid 50′s on. There are several duplex developments also in the area. St. Stephens Place has homes that feature views of the lower half of New Dorp and views of Raritan Bay.
New Dorp Heights is also home to the Gustave A. Mayer House, located at 2475 Richmond Road. The home was Built 1855 and was designated a New York City Landmark 1989. Additionally, the area features the New Dorp Lighthouse, this little known lighthouse sits just off Boyle Ave. and is privately owned and occupied as a residence. Due to its relative obscurity many people in this community are completely unaware the home was used as a lighthouse up until the 1960′s.
If you like nature its right in your backyard in this community. During the spring and summer months, the greenbelt that sits behind this community comes alive with an eerie chime of crickets. Which can make this community unlike most places in New York City . The parks inhabitants sometimes makes its presence in the neighborhood in the form of many different types of frogs. Walker Pond just off Summit Ave. is where many of these frogs make their home. Yes, many of our summer nights were filled with us kids chasing these critters around the neighborhood. When thinking back to then and being there today, little has changed in this neighborhood, which makes this community a very kid friendly and peaceful. Consequently, if you like the feel of a real country setting and all while living near the big city, New Dorp Heights is a place to look for your next home.
Here is a Snapshot of recent home sales in New Dorp Heights. You can get this information and more from RealEstateSINY.com
Address Price Close Date
3047 Richmond Rd Staten Island, NY 10306 $203,000 12/27/2007
3023 Richmond Rd Staten Island, NY 10306 $390,000 12/14/2007
3034 Richmond Rd Staten Island, NY 10306 $306,298 01/16/2008
3096 Richmond Rd Staten Island, NY 10306 $605,000 07/05/2007
10 Altamont St Staten Island, NY 10306 $395,000 09/04/2007
29 Gail Ct Staten Island, NY 10306 $327,500 10/19/2007
29 Gail Ct Staten Island, NY 10306 $110,000 10/19/2007
3206 Morley Ave Staten Island, NY 10306 $491,790 10/29/2007
14 Cloister Pl Staten Island, NY 10306 $360,000 11/08/2007
121 3rd St Staten Island, NY 10306 $499,000 07/06/2007
10 Altamont St Staten Island, NY 10306 $395,000 09/04/2007
3047 Richmond Rd Staten Island, NY 10306 $203,000 12/27/2007
14 Cloister Pl Staten Island, NY 10306 $360,000 11/08/2007
3034 Richmond Rd Staten Island, NY 10306 $306,298 01/16/2008
35 Otis Ave Staten Island, NY 10306 $568,000 06/25/2007
121 3rd St Staten Island, NY 10306 $814,000 07/06/2007
2770 Amboy Rd Staten Island, NY 10306 $460,000 11/06/2007
36 Dale Ave Staten Island, NY 10306 $320,000 08/08/2007
73 Mobile Ave Staten Island, NY 10306 $445,000 11/28/2007
102 Belfast Ave Staten Island, NY 10306 $368,000 12/18/2007
91 Beach Ave Staten Island, NY 10306 $535,000 07/19/2007
193 Tysens Ln Staten Island, NY 10306 $420,000 10/01/2007
116 Belfast Ave Staten Island, NY 10306 $390,000 06/06/2007
101 Beach Ave Staten Island, NY 10306 $368,000 06/20/2007
20 Shadow Ln Staten Island, NY 10306 $450,000 07/23/2007
153 Tysens Ln Staten Island, NY 10306 $575,000 07/19/2006
26 Dalton Ave Staten Island, NY 10306 $455,000 08/23/2007
34 Dalton Ave Staten Island, NY 10306 $450,000 09/13/2007
32 Morley Ave Staten Island, NY 10306 $481,650 07/31/2007
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Mar
30
I try to pull out my crystal ball and give you some insight on some of my predictions. First let’s take a look at this week’s rates. New York as a whole mortgage rates average sits at about 5.87% for fixed-rate 30 year mortgages. This is up slightly from last week’s low of around 5 3/4 percent. With inflationary pressures on the horizon due to the rising gas prices and prices on commodities which driving up the cost of basic necessities, I expect these pressures will continue to move mortgage rates higher. However, any increases should be negligible as other economic indicators struggle. Still I believe it’s a bit odd that rates took a drive as much as they did during the beginning of March. Then again, this is strange times. However, I believe here on Staten Island, we’ve reached a price and interest-rate equilibrium.
What do I mean by home price/interest-rate equilibrium, well basically if there’s any move on and prices downward, they’ll be counteracted by an increase in interest rates . Consequently for buyers, I am not so sure that prices will drop to the point that makes a significant difference on their monthly mortgage payment. At least that’s my feeling here. In New York City where basic fundamentals are still strong for home-ownership. I think many times people get caught up in national headlines about the real estate market and try to apply them into what they feel locally is happening with housing. I believe, one of things most overlooked by many looking into buying a home is the specific cause and effect relationship between economics and demographics of an area, and their impact on the local housing market. I believe the Staten Island real estate market, while showing attrition is still fundamentally stronger than many places across the country. I don’t paint a rosy picture either, because that is not the case. There are glaring issues, especially in price of new construction and the amount of time new construction is sitting on the market. All I’m saying is that our real estate market resilience is stronger based on fundamentals that many cities do not share with us across the country. The fundamental variable is that the weaker US dollar is driving many Europeans into the New York real estate market as a whole. Additionally, Europeans tourism has provided additional economic to the New York economy.
Back to the interest-rates and my prediction for the spring leading into the summer. I think interest rates overall will remain static, with peaks and valleys coming to about 6 1/4 percent by July. I still believe inflationary pressures will have a continued impact in the increase of interest rates. However, there are several countering factors that are working against raising interest rates. I believe at the end of the day how these factors are weighted will determine where the interest- rates will actually go. However, my final prediction is 6.25 by July 1.
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Mar
26
I guess in today™s real estate market you can find homeowners in a crisis situation, of the financial kind. However, during my travels I came across a home that having a different type of crisis. Unfortunately, we didn™t catch the convertible in the driveway. Hat™s off to this homeowner™s sense of humor.
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