If you want to buy a brand-new house on Long Island, you will find some selection out there. But not what it used to be, when just a few years ago the fast and furious pace of home building consumed both counties.
Blame the recession, difficulty in getting mortgages and the tough time residential developers have had finding their own capital financing. Just look at the numbers: From May 2005 to April 2006, construction began on 6,000 single-family homes, says Vince Calvosa, executive board member of the Long Island Builders
Institute and president of the Calvosa Organization in Bohemia. From May 2006 to April 2007, the numbers decreased to 5,000, and, from May 2008 to April 2009, it plummeted to 339, he points out. That number rose slightly, to 416, from May 2009 to April 2010, as the economy began inching its way back to some level of prosperity.
"The best I can say is that we are cautiously optimistic for new homes being built this year," Calvosa says. "Selling prices also have stabilized for the moment and are not going down anymore."
The biggest demand is for smaller, less pricey homes in the $300,000s and $400,000s, he says. There also is a strong demand in the luxury end in the Hamptons and on the North Shore of Nassau County.
If you're in the market to buy a totally new home, here are some now for sale:
Water Mill $3.795 million
WHERE 1062 Deerfield Rd.
ANNUAL TAXES $19,001
SQUARE FOOTAGE 7,300
THE BASICS This 2008 traditional-style house has seven bedrooms and 7 1/2 baths on 1.67 acres.
PROS Three-car garage; three fireplaces; unfinished basement with 9-foot ceilings; second-story terrace; three balconies; gunite heated pool; kitchen with two dishwashers, two sinks, stainless-steel appliances and granite countertops; master bedroom with two walk-in closets; master bathroom with oversized whirlpool tub, walk-in shower and double vanities; family room; crown molding; built-in fire extinguisher with water hose; central vacuum; central alarm system
CONS The home abuts a 60-acre reserve, owned by LaBrava Farms, that is zoned agricultural (something could be built to block the view).
WHERE 88 Abbott Dr.
ANNUAL TAXES $12,347
SQUARE FOOTAGE 2,000
THE BASICS This 2008 Colonial has three bedrooms and 21/2 baths on a quarter-acre.
PROS One-half mile to downtown; front porch; granite countertops, stainless-steel appliances and maple cabinets; double hearth fireplace in the living room and kitchen; master bedroom has one walk-in closet; family room; oak flooring; unfinished basement with 9-foot ceilings; and rear deck.
CONS Ten-foot retaining wall behind the backyard (not necessarily the prettiest view).
LISTING AGENT Paul Dyckes, Daniel Gale Sotheby's International Realty, 631-754-3400
WHERE 6 Brown Ave.
ANNUAL TAXES $13,000
SQUARE FOOTAGE 3,200
THE BASICS This 2010 Colonial has four bedrooms and 2 1/2 bathrooms on just over a quarter-acre.
PROS Family room with fireplace; one-car garage; kitchen with cherry wood cabinets, stainless-steel appliances and granite countertops; master bathroom with oversized whirlpool tub, double vanities and separate shower; two-story entrance; crown molding; cathedral ceilings; oak flooring with mahogany trim; front covered porch; and unfinished basement with 8-foot ceilings.
CONS Taxes are on the higher end for the area.
LISTING AGENT Vincent Martino, Prudential Douglas Elliman Real Estate, 631-758-2552
WHERE 4 Cynthia Lane
ANNUAL TAXES $16,000
SQUARE FOOTAGE 2,800
THE BASICS This 2010 Colonial has four bedrooms and 2 1/2 baths on a 65-by-100-foot lot.
PROS Energy Star-certified home with special windows, insulation and appliances; three blocks to shopping; fireplace in the family room; two-story entrance; unfinished basement with 9-foot ceilings; oak floors; two-car garage; crown moldings; cathedral ceilings; kitchen with center island, stainless steel appliances and granite countertops; master bathroom with oversized whirlpool tub, glass-enclosed shower, and double vanities; fully landscaped; and front porch. CONS: Taxes are on the high side for the area.
LISTING AGENT Tony Piscopio, Century 21 Laffey AssociatesFine Homes & Estates, 516-921-4300
WHERE 5 Pamela Lane
ANNUAL TAXES About $9,000
SQUARE FOOTAGE 1,850
THE BASICS This Victorian, which is under construction, has four bedrooms and 2 1/2 baths on three-quarters of an acre.
PROS One-car garage; family room; master bedroom with walk-in closet; unfinished basement with 8-foot ceilings; carpeting; kitchen with choice of cabinetry; master bathroom with platform tub; two miles from shopping.
CONS Basic, with not a lot of upgrades.
LISTING AGENT Chris Capitelli, Prudential Douglas Elliman Real Estate, 631-758-2552
GREAT NECK: $2,899,000
WHERE 10 Oak Dr.
ANNUAL TAXES $30,000
SQUARE FOOTAGE 4,800
THE BASICS This 2010 Colonial has six bedrooms and 51/2 baths on just under one-third of an acre
PROS Finished basement with 10-foot ceilings; two-car garage; all-brick exterior; family room; fireplace; kitchen with granite countertops and two dishwashers; hardwood floors; balcony and patio; master bathroom with oversized whirlpool tub, showers with body sprays, double vanities and radiant heat; crown moldings; cathedral ceilings; two-story entrance; radiant heat on the first floor; completely landscaped; central vacuum; and central alarm system.
CONS The home is one of the few in the area without a pool.
LISTING AGENT Janet Berookhim, June Shapiro Fine Homes & Estates, 516-482-1111
LAUREL HOLLOW: $3,999,999
WHERE 1458 Ridge Rd.
ANNUAL TAXES $58,500
SQUARE FOOTAGE 6,800
THE BASICS This 2009 Colonial has six bedrooms and 51/2 baths on 2.2 acres
PROS Waterfront home with bulkhead and beach rights; additional 1,800-square-foot attic and 3,000-square-foot unfinished basement with 10-foot ceilings; four fireplaces (three indoor and one outdoor); three-car garage; 1,200 square feet of covered, wraparound porches; library; kitchen has paneled appliances that match the cabinetry, two dishwashers, granite countertops and butler's pantry; master bathroom has whirlpool tub, separate shower, double vanities and radiant heat; master bedroom has two walk-in closets; back staircase; crown molding; water views throughout; and central vacuum.
CONS There is a gentle slope to the property, which would make it difficult to build a pool or tennis court
LISTING AGENT Barbara Bentley-Nash, Daniel Gale Sotheby's International Realty, 631-692-6770
SEA CLIFF $1,649,000
WHERE 6 Prospect Ave.
ANNUAL TAXES About $15,000
SQUARE FOOTAGE 4,000
THE BASICS This Colonial - construction started in 2007 - has four bedrooms, three baths and two half-baths on a quarter of an acre.
PROS Water views of the Long Island Sound and less than a quarter-mile from the beach; three floors and finished basement; two-car garage; dark oak and tile floors; kitchen has granite countertops, stainless-steel appliances and fireplace; master bedroom has one walk-in closet, three additional closets and a separate sitting room with a hookup for a wet bar; master bathroom has double vanities, oversized whirlpool tub and separate shower; den/office; and wraparound deck.
CONS Backyard is on the smaller side.
LISTING AGENT Caroline Kosloff, Century 21 Laffey Associates, 516-883-7780
WHERE 615 The Plain Rd.
ANNUAL TAXES About $13,000
SQUARE FOOTAGE 2,600
THE BASICS This 2009 Colonial has four bedrooms and 21/2 bathrooms on a 60-by-100-foot lot.
PROS Two-car garage; great room with fireplace; combination of oak flooring and carpeting; kitchen with stainless-steel appliances and granite countertops; master bathroom with stand-alone shower, whirlpool tub and double vanities; master bedroom with two walk-in closets; cathedral ceilings; crown molding; and a quarter-mile from shopping.
CONS No gas lines in the area, so heat must be oil-based.
LISTING AGENT Nancy Jarvis, Daniel Gale Sotheby's International Realty, 516-334-3606