Real Estate

Riverhead, N.Y.: A Long Island Community That’s Suddenly Popular

The 2009 home on virtually half an acre on the Highlands Membership had issues, however when Ms. Liepe-Levinson, a photographer, seemed out the kitchen window and noticed a barn, “That was it,” she mentioned. The couple paid $520,000 and spent extra on repairs. The property taxes are about $13,000.

Just a few miles north, within the Reeves Park neighborhood in Baiting Hole, a beachfront neighborhood on Lengthy Island Sound, Jennifer Sigelakis Agneta has been dwelling full-time since 2017 in a 545-square-foot cottage purchased initially for weekends. In 2015, the cottage price $195,000. “Now, I don’t suppose you can purchase into this neighborhood for lower than $400,000,” she mentioned.

Ms. Sigelakis Agneta, who’s 57 and works in actual property advertising, mentioned she respects why many longtime residents miss the North Fork’s sleepy methods. However having lived in downtown Salisbury, Md., she mentioned she is aware of what a financially depressed neighborhood with low property values seems like. She is ready to cheer on the pumpkin pickers.

“Yeah, there’s extra visitors and individuals who don’t know methods to drive in visitors circles,” she mentioned. However the inflow “additionally helps us to get extra issues within the space. Perhaps we’ll get a movie show someday.”

In mid-March, a Zillow search confirmed 43 houses within the hamlet of Riverhead listed by brokers. Amongst them have been a number of manufactured homes in communities for households or individuals 55 years and older; asking costs started at $50,000 (for the construction alone), with a month-to-month lot rental payment of $723 that included taxes. Shifting up in value, a four-bedroom, wood-shingled home inbuilt 1930 close to Foremost Road was listed for $599,990, with annual taxes of $7,849. Six years in the past, the identical property offered for $250,000.

One other four-bedroom, wood-sided home inbuilt 1930, with Lengthy Island Sound views and deeded seaside entry, was listed for just below $1.4 million, with annual taxes of $16,385. In 2008, the home offered for $430,000.

In keeping with Redfin, the median sale value within the hamlet of Riverhead in February was $550,000, based mostly on seven transactions, a year-over-year improve of fifty p.c.

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