Custom Contemporary home built for entertaining. IGP, CAC, Master with new Master bath. Walk-in wine cellar. Steps from private Belle Terre beach. Wonderful schools, library, PJCC with tennis and golf are just a fraction of the picture that surrounds this home.
$1,400,000 | MLS #3412621
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Property runs from Spring Hollow RD to Frog Hollow RD. 1.5 baths, Brick Fire Place, Full basement, 1 car garage. House is sold as-is. Beach rights, Close to Short Beach, Long Beach, Saint James and the LIRR.
$659,000 | MLS# 3422244
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Master Chefs Kitchen w/Carrera Marble Counters/Centre Isle-Meile appliances -Walk out Basement–Home office (or 5th bedroom) with separate entrance. PJ Village amenities: 2 private beaches, Golf & Country Club, tennis courts, Village Parking.
$739,000 | MLS #3425769
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By Michael Ardolino
It’s a great time to sell/buy.
While there are more options, your home is still in high demand. Graph 1 in our advertisement on page B9 shows inventory still is not keeping up with demand, maintaining a seller’s market. The National Association of Realtors’ (NAR) data shows sellers are still receiving many offers.
Mortgage rates are still historically low, and rates have increased approximately 3% in the last nine months. Buyers are becoming less likely to get into bidding wars and are more cautious. The rush of over-bidding and waiving inspections or appraisals is decreasing.
Let’s go
Put your home on the market while inventory is low, and buyers compete for the best offer. Buyers are understanding the adjusting market and know they can still secure a low mortgage rate.
Since April we’ve seen an incline of month’s supply of homes for sale. In August, the month’s supply went from 2.9 to 2.0 months, dipping further back into a seller’s market. We’re still experiencing the effects of low inventory and high demand.
CoreLogic states “Annual home price growth slowed for the third consecutive month in July and remained historically elevated at 15.8%.” Home price appreciation is slowing— a deceleration not depreciation.
CoreLogic expects to see a more balanced housing market with year-over-year appreciation slowing to 3.8% by July 2023. The home price appreciation we’ve experienced are unsustainable and are expected to return to normal in the next year.
Take advantage of the timing and get a great price for your home now.
Your next move
A recent article from CNET explains: “Homeownership is still considered one of the most reliable ways to build wealth… You’re building equity in your home…”. Home values have appreciated so much over the last few years, you can now cash in on all the built-up equity. Once your home is sold, you’ll have access to funds to use for a sizable down payment or an all-cash purchase. Sellers are becoming more flexible and willing to negotiate, especially if your offer has a higher down payment or no mortgage contingency. You’ll know your budget and can secure the home and location you’re moving to, especially with more homes on the market.
Takeaway
Timing is everything. It’s a great time to sell/buy, and as always in real estate, consult with a professional and make the best decision for you and your family.
So … let’s talk.
Michael Ardolino is the Founder/Owner-Broker of Realty Connect USA.
29 Sales Offices from Brooklyn and Queens Across Long Island to Contribute Food and Funds throughout September, Hunger Action Month®
Daniel Gale Sotheby’s International Realty (DGSIR), a luxury real estate organization serving Long Island, Brooklyn, and Queens has launched a month-long fundraiser to collect food and funds for Island Harvest Food Bank and City Harvest, two of the region’s largest hunger relief organizations. This companywide effort is part of Daniel GaleSotheby’s International Realty’s 100 Anniversary celebration, and the goal is to raise funds to provide 100,000 meals during the month of September, which is Hunger Action Month®.
Daniel Gale Sotheby’s International Realty Chief Executive Officer Deirdre O’Connell and members of her executive team kicked off the fundraiser, presenting Island Harvest and City Harvest with an initial donation of $10,000 from the Daniel Gale Foundation.
“With sales offices across Long Island and more than 1,000 real estate professionals, managers and support staff enthusiastically committed to our goal, we are eager to make this significant contribution to alleviate hunger in our communities,” said O’Connell. “Every office will be contributing and accepting donations of nonperishable goods and monetary donations online, as well as rolling up their sleeves as the boots on the ground.”
Randi Shubin Dresner, President and Chief Executive Officer of Island Harvest, explained the continuing need for food banks such as Island Harvest and City Harvest and the ways in which the Daniel Gale Sotheby’s International Realty community can help.
“While Long Island is home to some of the wealthiest ZIP codes in the nation, one in ten Long Island families experience food insecurity at some point during the year. This includes school children who may have trouble concentrating in class because they went to bed hungry and woke up to a minimal, or no breakfast; seniors who helped to build our communities and now must choose between medicine and a meal; and our veterans who served our country but now face hard times. It’s our responsibility to make sure that no one on Long Island goes without food.”
“Even before the COVID-19 pandemic, New York City was facing a profound hunger crisis—particularly in the marginalized communities that City Harvest has long served, with nearly 1.2 million New Yorkers, including one in five children experiencing food insecurity,” said Jilly Stephens, City Harvest Chief Executive Officer. “Those numbers surged during the pandemic and remain at historic highs with nearly 1.5 million New Yorkers, including more than 462,000 children, in need of assistance.”
In addition to contributing food and funds, Island Harvest and City Harvest will welcome volunteers from Daniel Gale Sotheby’s International Realty to help them get food into the hands of those in need. Activities include volunteering at distribution centers, helping to sort donations or working at Island Harvest’s Brentwood farm.
“Daniel Gale Sotheby’s International Realty has a 100 year tradition of serving our communities, and we couldn’t be more excited that to put our hands and hearts to work to help Island Harvest and City Harvest meet their goals to end hunger,” added O’Connell. “We will working individually and as a team to make a difference across Long Island from Brooklyn to our easternmost offices on the North Fork. Our team is ready and willing to work shoulder to shoulder with these two incredible food banks.”
Donations to Island Harvest and City Harvest can be made online at Island Harvest donation or
2,809 Sq. ft, 4 bedrooms, 3 bathrooms, family room, dining room, large deck overlooking an in ground pool, and full basement. Close to Nissequogue Golf Club, Short Beach, Long Beach Town Park, Stony Brook University and Stony Brook Hospital.
$809,900 | MLS# H6192384
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Expansive kitchen, theater, gym, yoga rooms, sauna, and spa baths. Each Suite is complete with private radiant heated baths. 7000sqft of living space. Private community offers constable service, exclusive beaches, sports courts, walking paths and children’s park.
$3,700,000 | MLS #3159555
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Nestled on 2.18 tranquil acres bordering Nissequogue River and Sweet Briar Nature Preserve. The entire house and property has been completely renovated while retaining its original historic details. Spectacular Grounds with Gunite Pool/ Waterfall And Outdoor Entertaining Spaces.
$975,000 | ML#3418995
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Walk out to your own sandy beach! Atop A 27′ Bluff Protected By An Expansive Stone Revetment. Living Room With French Doors Open To Patio, Sunroom, Gourmet Eat-In Kitchen With Viking 6-Burner Cooktop, 2 Wall Ovens, Sub-Zero Refrigerator. Gunite Pool On 2 Acres.
$3,388,888 | MLS# 3391019
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4Br, 2.5Bth Hi-Ranch located in the famed Three Village School District. Updated Kitchen, Bathrooms, New Roof 2022, updated double pane Windows. Stainless Steel appliances, Granite countertops. 2 car attached Garage.
$599,999 | Web# 3422640
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