Real LI

It turns out Sandy isn’t the only scapegoat for a rough first quarter for the Hamptons housing market. Two reports released today both indicate that a rush to close transactions before capital gains taxes were slated to rise after 2012 wreaked havoc on the first quarter housing market, especially at the high-end.

Real estate brokerage firm Brown Harris Stevens reported a 13 percent annual...

The Hamptons housing market declined by nearly every statistical measure in the first quarter of 2013, according to a report released Monday by East End brokerage Town and Country Real Estate.

Despite signs of a rising housing market nationally and an uptick in Hamptons home sales in each of the previous five quarters, the poor performance shouldn't come as much of a surprise. Sales...

A 10-room Colonial in Cutchogue, home to a bed-and-breakfast called Andrew’s Legacy, is on the market for $699,000.

Owner Liz MacNish has run the B&B with her son, Mark, since 2004. “It’s a lot of fun,” she says, but it is time to move on. The house was built in 1921 by a grandfather of her late husband, Richard, and the B&B carries the grandfather's name, Andrew.

There are five...

You can have enough room — and the rights — to farm, live, work and build on (or all of the above) this 22.7-acre property in Riverhead, which is on the market for $4 million.

The land has been used over the years for everything from agriculture to an airport.

Co-seller Carole Brush says development rights are intact. That’s important because it means the sellers can sell all or a portion...

This historic Jamesport house, which dates back to 1780, is on the market for $429,000. The two-bedroom, two-bath home has its original staircases, a restored wood shake shingle roof and wood fish-scale shingles on the exterior. A newly renovated kitchen contrasts with a formal parlor, blending modern living and history.

The house also has some of its original doors, which are shorter...

For sale, a circa 1892 farmhouse in Southold, known to locals as the Great Hog Neck Farm, which can trace its ownership back to two prominent families. According to the Southold Historical Society, the house was owned by the Terry family until members made a trade with the Hallock family for some land.

It was the childhood home of Joseph N. Hallock, owner and editor of the Island Traveler...

Newsday's LI Home editor Valerie Kellogg appeared on News 12 Long Island Tuesday, as she does every Tuesday around 7:15 p.m., to talk about three big properties on the market. Here's the clip, in case you missed it, with a list below of the agents representing each of the properties:

SOUTHOLD ISLAND:

Nicholas Planamento and Joan Bischoff, Town & Country Real Estate, 631-948-0143...

Want to live on your private nature preserve? This 13.7-acre parcel of the Stock Farm of North Haven comes complete with wetlands, two ponds, gardens, mature forests, cedar grove, walking trails and a certified organic farm called Sunset Beach Farm.

The Hamptons property, which is on the market for $5.4 million, is only five minutes from Sag Harbor and is nestled between the 100-acre Stock...

Getting away from it all is easy at this 18-acre-plus island in Southold. On the market for $3.995 million, it has 3,000 square feet of private coastline flanked by a canal and Hashamomuck Pond.

Access is via a country lane and then over a wooden bridge.

There are two single lots -- each is 5.5 acres -- and another 7.5-acre parcel that includes an 11-room house with four bedrooms and...

Sellers. Kenny and Kathy Reed

Address. 5 Summerset Dr., Smithtown

Asking price. $724,470

The competition. A five-bedroom, 3½-bath 1972 Colonial on half an acre on nearby Haskel Lane is on the market for $549,000.

Recent sale in the area. A four-bedroom, 3½-bath 2004 contemporary on half an acre on New Mill Road sold for $645,000 in late June.

Taxes. $18,017

Time...