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When British citizens voted in late June to leave the European Union, the referendum sparked fear in the global economy, prompting investors to sink their money into options long thought to be secure, such as treasuries.
In doing so, they benefited American homeowners by helping to further lower already plummeting interest rates on home mortgages. This makes it a good time to potentially lower your monthly payment by refinancing. (more…)
ILLUSTRATION GETTY IMAGE/iStock | Affordable housing is back in the news on Shelter Island.
“We’ve tried many things — the result is always the same.”
The speaker was Mary-Faith Westervelt, co-chair of Shelter Island’s Community Housing Board (CHB) noting how quickly opposition develops to any proposal for affordable housing, whether it’s houses for purchase or rent.
That’s the case with an idea floated by real estate broker Janalyn Travis-Messer, who last month brought a proposal to the CHB for a three-bedroom rental with an attached one-bedroom rental. (more…)
DOUG KERR PHOTO/FLICKR.COM | The single- screen Sag Harbor movie theater is for sale.
Sag Harbor Cinema, the single-screen movie house in the heart of the village, is once again for sale.
Owner Gerald Mallow, who previously put the theater on the market in 2008 without working with a real estate agency, is asking $14 million for the art deco movie palace. This time he is working with Saunders & Associates. (more…)
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Look for an upturn in the Shelter Island real estate market in the first quarter of 2016.
That’s the consensus from Island professionals who have weathered what most have termed a frustrating 2015.
Saunders’ Penelope Moore summed it up, saying she’s always looking at trends, and 2015 was “a very unusual year” compared to others. (more…)
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Shelter Island is in the top 500 — out of 29,500 — ZIP codes of the most expensive places to live in the United States. (more…)