North Shore Homes - May 18, 2023

HOMES

Swan Manor

NISSEQUOGUE, NY

1 Swan Place

14 BD | 14 BA | 1 HB | $15,750,000

Hidden halfway between New York City and The Hamptons, Swan Manor is conveniently located on the North Shore of Long Island, just minutes from beautiful beaches, trains, shopping, restaurants, a yacht club, country club, and more. Spanning over 20,000 SF of living space, with three structures, meticulously renovated with an eye for luxury while incorporating all of today’s modern conveniences. Perfectly situated on over 9 private acres with jaw-dropping views of Long Island Sound, Swan Manor is undoubtedly the crown jewel of Long Island’s north shore.

Licensed Associate RE Broker

maria.orlandi@compass.com

M: 631.697.0474 | O: 631.629.7719

MariaOrlandiLuxuryLiving

For the entire month of May, our office will be collecting new and gently used clothing items for women, men, and children of all sizes.

We are honored to have served our communities for over a century and we thank you for your donation and helping us continue our mission.

Any items that remain unsold will be donated to other charitable organizations.

For more information, visit dealsondesigners.com

Daniel Gale Sotheby’s International Realty and Deals on Designers are hosting a clothing drive to benefit the Daniel Gale Foundation.

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Before Your Inspection

It’s one of the last steps in sale — and one of the most crucial.

Inspections can seal the deal, since they offer prospective buyers peace of mind about the quality of workmanship and working condition of a property. For sellers, however, the process can be nerve wracking — in particular if you own an older home.

These findings may require a price adjustment or costly upfront repairs in order to complete the sale. But some key elements of the report can be dealt with beforehand, ensuring a smoother transaction when you’re ready to sell.

PROBLEM AREAS

Often times, homeowners already know about existing issues — or problems that could crop up in the future. Correcting them before the inspection can save you lots of money, and plenty of heartache. Easy to address areas that often end up looking like huge red flags on an inspection report include appliance, plumbing and air conditioning

repair or replacement, insulation, some drainage issues, and small handyman jobs. Buyers may become wary of the sale if these problems start to pile up, and oftentimes they have a very simple fix. You might simply need an extra weekend to work on things before listing the property.

Of course, more complex project work could also be needed — especially if there are structural problems or water damage. Inspectors will be on the look out for telltale signs of larger concerns like that, including cracking in the plaster or brickwork and musty smells. You’ll have to decide if the time, hassle and expense of dealing with those things beforehand is worth it, instead of simply reporting the issue and lowering the asking price for the home.

HOME WARRANTY

Inspectors try to compile the most complete possible accounting of a home’s integrity, working processes and construction. They may lack expertise in certain areas, including

chimneys, swimming pools or septic tanks. Rain or snow may also impact an inspection, in particular as it pertains to closely examining roofs, decks, driveways and patios. But in general, inspectors will hit on all of the major points of concern for the typical buyer, then construct a detailed report that grades the seriousness of each finding and includes accompanying photos. Many owners of older homes, and those who are aware of lingering issues, will package the sale with a home warranty in order to ease worries about anything that breaks or malfunctions down the road.

REAL ESTATE 101

Reverse Mortgage?

Homeowners who are 62 and older have the option of taking out a reverse mortgage, which allows them to get cash for their home equity — but should you? Find out more about these special loans, and an array of possible alternatives at bit.ly/3np9vcG.

©ADOBE STOCK

East Setauket Commercial. Excellent Investment or Owner Occupied Opportunity! Award Winning, Free Standing 5800 sq ft Professional O ce/Medical Building. O 25A. Ample Parking. Minutes to Stony Brook University & Hospital, JT Mather Hospital, St. Charles Hospital. Low Maintenance. Close to Major Highways. ML#3456980 $2,500,000

Setauket Dramatically renovated custom farm ranch home in Historic Strongs Neck. Cul-de-sac. 2 primary suites with new spa-like baths, gourmet kit w/double islands, marble c-tops. TOL Appl, Viking 6-burner gas stove. Addl. 2nd washer/dryer. Close to Stony Brook Univ. & Hosp, West Meadow Beach. 60 mi. NYC and 37 miles to the Hamptons.. ML#3473266 $1,050,000

East Setauket Meticulously Updated and Maintained Turn Key Home. 4 BR 2.5 BA Bracken Built Center Hall Colonial, Updated Kitchen & Appliances, Baths, Roof, Windows, and Cedar Siding. 2 Fpl 1-Gas, 1- Wood Burning. Partially Fin Basmnt w/Separate Laundry Rm & Sink. CAC IGS and Gutter Guards. 200 AMP. Service. Beautifully Landscaped. 3VSD. ML#3473983 $849,999

Stony Brook Expanded Framingham Farm ranch boasts 6Brs. 3Ba. Permitted, Accessory apartment , Impressive 23-foot LR w/log-burning fpl. Updated kitw/granite Ctops. slider to back yar. Paver patio, IG Pool w/2yr liner. Minutes to Stony Brook Univ. & Stony Brook Hosp.3VSD. ML#3473409 $729,000

Stony Brook Bright And Airy Well Maintained 3 Br 2.5 Baths Col. Updated Baths. New roof and new ooring throughout. EIK, DR and LR. Fenced property. Master with ensuite. 3VS. Close to Stony Brook Univ. Hosp, LIRR. Shopping. SOLD AS IS! ML#3473362 $589,000

Rocky Point This Charming 2 BR, 1 Full Bath Cottage rests on a GORGEOUS .46 ACRE Piece of Property. LR w/fplc, Kitchen w.Granite C-Tops Dining Room w/Cathedral Ceiling and a loft area. Newer Roof and Heating System, Partial Basement w/Laundry, Storage and OSE. Paver Patio, Shed. Beach Membership Available for an additional annual fee. LOW Taxes! ML#3473913 $349,000

The Number One Brokerage in New York

Port Je erson A very Special home featuring 4 Br, 2.5 Baths. Wood burning fplc, Remodeled kitchen, quartz C-tops. Anderson windows, Pax wardrobe systems. CAC, many upgrades. Finished basement. Beautifully landscaped property. Village amenities, discounted Country Club membership. PJ School district. ML#3465684 $1,200,000

Setauket Year round escape, under 2 hours from NYC! Winter Water views, 2.5 acres, and 360’ of deeded beach rights on LISound. 2 wood burning Fps. Gourmet kitchen, 4 Br, 4.5 baths, multiple decks, open oor plan, Hw s, walk-out lower level. 2.5 car garage. Award winning schools. Minutes to SBU, SBH. Shopping. ML#3466622 $1,875,000

Setauket Custom built 4 Bedroom Ranch with large EIK, Living Room Dining Room, Family Room with Fireplace, sliders to deck. Two Full Updated Baths, Full Basement, Partially nished, two car garage with access to basement. Located in the community of Crane Neck with access to private beach. ML#3472782 $939,900

Mt Sinai Amagansett Model w/ Courtyard entrance. 3 Bdrms.w/possible 4th bedroom/loft area. 1st oor master w/master Bath. 2nd 1st oor bdrm. w/ private entrance and full bath. EIK w/ Quartz countertops & SS appl. Private backyard w/ part covered patio. Located in the desirable gated community of the Ranches. ML#3475307 $749,000

Stony Brook Split level with 4 bdrms. 3 bths. Newer Burner and newer above ground Oil Tank, 200 amp Electric with back up auto Generac generator. All hardwood oors, enclosed 3 season porch and a two car detached garage. Large walk up attic. Bsmt. has an inside entrance. ML#3457290 $625,000

Rocky Point This is a 3/4 Bedroom home which has an upstairs with a large open room that could be an upstairs den/4th bedroom or large o ce. Gleaming oak hardwood oors thru out. Newer W/D, 2019 Roof, Anderson windows, High hats. Large corner lot, 200 amp electic. ML#3463272 $525,000

Sound Beach Contemporary style home. (approx. 2100 sq ft )Full n. bsmt. with approx 800 sq foot 1 bedroom legal apartment. 2/3 bedrooms upstairs with a master bath. Loft area perfect for an o ce or additional bedroom. Two separate driveways one on each side (perfect for tenant). ML#3436174 $499,999

Port Je erson Sta Lovely 3 Bdrm, 2 full Bath, Ranch. First oor living w/ Master Suite & laundry on the main oor. Level fenced property with brick patio, and circular Belgium Block lined driveway. One car attached garage and partial basement with cedar closet. ML#3474557 $450,000

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Rocky Point Priced Reduction. This home o ers endless possibilities. The LI Sound W/Private Beach Rights is right around the corner. 3/4 BRs, 3 Full Baths, Large Master BR. Hdwd rs, Mother/Daughter Home W/Proper Permits. 2 Separate Electric Meters. Close To Shopping, Restaurants. Rocky Point SD. ML#3467887 $369,000

The number one brokerage in New York

Rocky Point Beautifully Appointed 4Br, 2.5 Bth Colonial was Remodeled In 2019. Designer Kitchen w/Lg Center Isle & Farm Sink. New Bathrooms & Porcelain Plank Tile on 1st Floor. Lg Trex Porch, 6 Zone IGS, Oversized Belgium Block Lined Drive, Plus Paved Parking In Front. 1st Flr Br w/FBth, (ADA Accessible) Perfect For Guests Or O ce. Mature Landscaping and more. ML#3474594. $499,900

Saint James Fair eld at St. James! A desirable 55+ Gated Community. Lg Primary 1 Br. w/Full Bath & Wlk in Closet. Oversized Bathroom, Spacious Living Room, Eat-In Kitchen with Pantry. Hot Water Heater and Roof were Replaced 2021. Newer Windows, Lg Private SunFilled Patio w/Storage Room Attached. Being sold ‘As Is’. Community Indoor & Outdoor Pool. ML#3474665 $335,000

Patchogue Welcome to this quiet, spacious 1Br, 1FBth retreat in the heart of Patchogue. Located in the beautiful community of Water’s Edge. Newly renovated exteriors. Great location, easy access to Ferries, All major rds., Shopping, and restaurants. Amenities Include: Community Clubhouse, IGP & Laundry. ML#3444265 $174,999

Nesconset Price Adjustment: 3Br, 1.5 Bth Ranch on .64 Property. Eat in Kitchen, Den/ Family Rm, New heating system, hardwood oors in the lg living room, updated 200 amp. electric, half bath o Primary Br. Interior & exterior entrance to basement. Last home at end of a dead-end street with adjacent lot. 2/3-acre total located in desirable Smithtown SD! Possible subdivision w/Town approval. Low Taxes. ML#3464806 $460,000

Wading River Stunning 5Br, 3.5 Bth Victorian located in desirable Meadowcrest IV neighborhood. Open oor plan, high ceilings & Lg windows. The LR w/ cozy Fpl. Great EIK w/ top-of-the-line appliances. Primary BR w/en-suite Bth, whirlpool tub & Wlk in shower. Beautiful .75 Prop w/lg Deck, Lush lawn & mature landscaping. 2 Car garg & separate guest quarters. ML#3460403 $999,000

Rocky Point Tremendous potential in this second oor, one bedroom, one Bath Co-op in Rocky Point! Sliding Doors from Living Room to Private Balcony, Walk in Closets for Storage, No Pets Allowed, OnSite Laundry Facility Available, Assigned Parking, bring your vision and make this home your own and enjoy all the North Shore has to o er. Board Approval Required. ML#3465977 $119,000

What Influences A Home’s Value?

8 critical factors:

➊ Neighborhood comps

➋ Location

➌ Home size and usable space

➍ Age and condition

➎ Upgrades and updates

➏ The local market

➐ Economic indicators

➑ Interest rates

How to Buy Down Points

Those with ready cash can do something about higher interest rates.

Lenders offer prospective homebuyers the option to lower these rates, and reduce their monthly bill, by making a direct payment.

In some cases, you may want to wait to purchase in order to save some more money in order to buy down points. Either way, it’s an opportunity to make a big impact on your mortgage.

WHAT ARE POINTS?

Meet with a qualified loan officer to determine if it makes sense for you to buy down points as part of your purchase transaction. Both your current financial status and your future plans will come into play. You don’t want to overspend on the front end and risk being unable to keep up your mortgage payments later. Still, for those with a larger nest egg, buying down

points can be a smart budget move. Every point equals one percent of the total financed balance, and each purchased point drives down your overall interest rate.

WHY IT’S SMART

You’ll enjoy substantial savings over the term of your loan by earning a more favorable interest rate. Still, it takes a long time for these monthly savings to add up, so make sure you’re financially secure over the life of your loan, which is typically 30 years. Buying points is a long-term investment, not a getrich-quick scheme. It works best for those who intend to keep their home for decades, not years. You’ll need some time to recoup your initial investment.

THE BEST CANDIDATES

Buying down points makes the most sense for those who have a standard salary structure, with dependable weekly or bi-weekly paychecks so they can rely upon a pattern of income. Buyers working in the seasonal or gig economy, or those who rely on freelance jobs

or commissions may want to keep a larger cash reserve to protect against their income’s natural ebbs and flows. If you’re purchasing later in life, it’s also critical to understand how your income will change into retirement. Make sure you can afford the note. Otherwise, you’re a good candidate for the points program since you will be on a lower fixed income when finishing off the balance. You can expect lower monthly obligations in the meantime — and a smaller balance at loan’s end.

REAL ESTATE 101

Fixed vs. Adjustable-Rate Loans

Fixed-rate mortgages mean you’ll never be surprised since the interest rate remains the same for the term of your loan, but if interest rates fall you won’t benefit. Adjustable-rate loans often offer lower initial rates, but can lead to sudden changes in your mortgage payment if benchmark rates skyrocket. .

Buying A Vacation Home

By ALEX MASON | Green Shoot Media

REAL ESTATE 101

The Costs of Renting

The Internal Revenue Service lists the following as expenses the owners of vacation rentals may incur:

■ mortgage interest

■ real estate taxes

■ casualty losses

■ maintenance

■ utilities

■ insurance

Don’t rush in to a purchase of a vacation home. If you don’t make a commitment to use it often, it likely won’t be a good investment.

For the right person, buying a vacation home can be a smart and enjoyable financial move. However, times are changing, and adding a second property with a mortgage isn’t for everyone. Here are some things to keep in mind before buying a second home for vacations.

WILL YOU VISIT IT? A vacation home can be a liability with the payments, upkeep and struggle to decide to open the doors to strangers as a rental. Some people think with their hearts instead of their heads when it comes to buying something for their leisure time and then get stuck with a home they cannot afford. For a vacation home to earn its keep, you must be resolute to use it. If you have a chance to buy a home at a good price in an area that you intend to frequent, then no harm is done to invest in a modest property. However, many people just dream of getting away to a particular hot spot and never actually put the vacation plans in motion as they had intended.

POSITIVES The positive side to owning a vacation home is that your belongings are secured and you have a dependable place to stay when traveling. This means your pets are always welcome and the home is outfitted with everything you need for a fabulous getaway.

You also have a second piece of property to sell and turn a profit a few years down the road. Your vacation home should be in a place that draws you like a magnet to ensure you will get your money’s worth out of the investment. Oceanfront homes, mountain retreats or desert homes located just a stone’s throw from the golf course are ideal vacation properties that will get good use.

If you intend to rent out your vacation home to generate some income, those same features are likely to bring in consistent renters. In popular vacation areas, you often can find the rental history of different properties to get an idea of how much income you’ll be able to generate after your purchase.

Finding a good property management company is key, though. As an out-of-town owner, you want to make sure your renters and property will be taken care of, so look for a vacation management company with a long track record and lots of happy property owners.

NEGATIVES Investing in a second home may be a burden if your primary residence is still carrying a mortgage. In addition to the monthly payment, your vacation home is going to have property taxes, landscaping issues and general repair to keep it in mint condition.

Renting the property out comes with its own risks. By letting strangers into your home, you’re running the risk of theft or property damage that could turn your vacation dreams into a nightmare. Make sure you carry good insurance and pick a great property manager if you go this route.

TIME SHARES One solution to own a piece of property and keep the responsibility at bay is to buy a timeshare. These types of vacation homes generally are located in premium tourism areas with plentiful city amenities to include shopping, dining and entertainment.

It might be possible to sell your timeshare unit once you’ve had your fill, but owners are required to pay property taxes and may be stuck with an HOA monthly fee.

In addition, the timeshare is yours to use for a limited amount of time each year. Most plans allow for a one to two week session in the unit with the option to rent out your turn in the unit for a small profit. Although you will be in the same timeshare unit each visit, remember that strangers will occupy it the rest of the year.

A timeshare is just a step up from a hotel room, so if you want absolute privacy and control, buy a low-cost condo instead.

Featured homes just listed by Team East Setauket. Please enjoy more photos and virtual tours on Elliman.com

Mount Sinai | $749,000 | Web # 2452535

This perfect “Amagansett” model located in the desirable condominium community of The Lakes @Mt Sinai offers a lovely courtyard entry, updated, spacious kitchen, loft, full finished basement and a two-car garage. In addition, this community offers 24-hour gates entry, indoor and outdoor in ground pools, clubhouse, gym and more.

Port Jefferson | $599,999 | Web # 3475694

Welcome home to this lovely 4 bedroom, 2.5 bath Colonial. Enjoy the bright and cheery newly updated kitchen, living room with hardwood floors and money-saving pellet stove that will heat the whole house. The upper floor offers 3 bedrooms with Brazilian cherry flooring, high hat lighting plus 2 full baths. The back yard deck is perfect for entertaining, and you will enjoy Port Jefferson Village and taxes under $9,000.

Manorville | $585,000 | Web # 3475395

Take a deep breath and relax in your new country home. Exuding charm, this updated farm ranch offers expansive space both indoors and out. Flowing, newly refinished, hardwood floors reflect the sunlight throughout your open first floor. Updates include the 2 new baths, new roof, new hot water heater, updated kitchen, new floors on both levels, freshly painted inside and out, new laundry room, partially finished basement, new landscaping and so much more. Your indoor and outdoor entertaining spaces transition seamlessly from both your kitchen and living room. Truely, an ideal place to call home.

Coram | $549,999 | Web # 3476252

Look no further, enjoy the inviting front porch and beautifully landscaped front yard that make this home so welcoming! The numerous updates include a 1st floor owner’s suite with a new bath, updated kitchen boasts stainless steel appliances and quartz counter tops. vaulted ceiling in living room with high hat lighting & hardwood floors. The gas fireplace keeps you cozy and warm on chilly nightsand the new central air conditioning keeps you comfortable and cool in the summer! Gas heat keeps your heating bills down! 2 car garage and full finished walk out basement offers plenty of storage and extra living space. Relax in your fully fenced back yard with Trex deck and all weather retractable electric awning for unstoppable outdoor recreation, relaxation, and dining.

Manorville | $585,000 | 3475395

Charming 3 bedroom 2 bath Farm ranch situated on .92 Acre. All new roof, appliances, floors, bathrooms, fireplace, landscaping, paint and so much more. Expansive level property surrounds this country retreat, waiting for you to call it home.