I grew up in Washington, DC in a family immersed in house-hunting all throughout my childhood, so I was aware from an early age that my parents wanted to purchase a new home. Because nothing ever seemed to transpire, my sisters and I believed our parents were practicing “aspirational” real estate, seeking to fill a void in their own lives by looking for a new home, without ever planning to pull Continue Reading
Independence Day on Shelter Island
Perhaps it was my being born and raised in Washington DC, or years of Sunday visits after Quaker meeting to the Smithsonian or having parents who read aloud Herman Melville and Nathaniel Hawthorne as bedtime stories – I have always been fascinated with American history. This interest extends to my work in real estate; there are so many stories that homes seem to yearn to tell us about their Continue Reading
Short Term Rentals and the Rental Market
Currently there is a variety of excellent rentals available, many of which in prior years would already have been rented at this point in the season. Perhaps a combination of cold and rainy weather, holidays and Shelter Island Town passing its Short Term Rental Regulation has had a ripple effect. Over the past several weeks, I gained interesting perspective about short term rentals, a topic Continue Reading
Moving Structures on Shelter Island
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
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