8 Oak Street, Valley Stream, NY 11581

SOLD on 2/4/25 for $840,000! That’s a full $41K above the asking price! We listed this immaculate single-family home at 8 Oak Street on 11/6/24 for a somewhat aggressive price of $799K because never before had a 1-family house in this particular area sold that high, but then again this truly turn-key home was both gorgeous and spotless. Well we finally closed on 2/4/25 at $840K. Although that's a full $41K above the asking, and one could easily look at the results and assume that it was simply a "walk-in-the-park" listing, we have possibly never worked harder on any listing before this one. Thankfully, we had truly AMAZING clients who fully trusted us and remained patient throughout the entire process. The main challenge was that this single family residence had been previously converted from a 2-family, but the Certificate of Occupancy was never updated; Therefore, this deeded 2-family home was now effectively a 1-family, and would only appraise as such. We knew, and made our clients know, right away that this issue was potentially going to be exploited by the buyers and/or their attorneys, but we felt that the condition of the home, and the turnout our marketing would bring, would insure that we would maintain leverage over the market despite the C/O issue. Still, we could've never predicted just how challenging this situation would eventually become. Undeterred, and fully confident in our ability to navigate whatever storms would arise, we immediately went to work on a comprehensive marketing campaign. We then hosted our signature 3-day Open House event and ushered more than 300 attendees into this immaculate home while covering about 600 individual feet with booties. This incredible turnout produced about 18 qualified offers that topped out at almost $900K! Despite all of our marketing materials clearly explaining the situation with the C/O, and our team reiterating these facts in person to all who attended, all of the higher offers were eventually rescinded and reduced. There's a saying in real estate that "time kills deals" and this is exactly what happened here. So after weeks of re-negotiating and then accepting the backup offers in descending order, and one at a time, we still couldn't get a viable contract signed. So what else could we do at this point? All of the qualified buyers disappeared! Many (if not all) other brokers would've ran for the hills at that point. But we're Calemine & Co. We proudly cherish, and fiercely protect, our well-earned 100% Success Rate. So we got right back on the horse and engineered yet ANOTHER multi-day Open House event that again produced an incredible turnout of buyers! Once again we had many competing offers well above asking, but again many of those buyers rescinded and reduced their offers both before and after their home inspection. This time however we drastically shortened the leash on the buyers by mandating that their inspection be done within a day or two of their offer being accepted. We also demanded that the sale contract be signed within 48 hours of their home inspection, or we would move on to the next best buyer down the line. As a result, and after several more failed deals, we quickly got through to the most serious and well-intended buyer who wasted no time inspecting the home and signing the contract. It was at this point that someone on our team appropriately labeled this listing as "the Nightmare on Oak Street". Little did that clever teammate know however that the roller coaster ride was far from over. About 7 weeks later, and about a week before the estimated closing date, the buyer had a serious dispute with his own chosen bank and Loan Officer. Just like that, the "nightmare" listing was once again back in serious danger of blowing up in our face. Supposedly the interest rate he was promised (and thought he locked-in) early in the loan process was suddenly significantly higher now that it was time to close. The buyer was now facing a totally unaffordable monthly payment thanks to the higher interest rate, and therefore couldn't clear final underwriting to be allowed to close by the lender. In quick response, and after refusing to allow our client to be snookered by the loan officer and/or the buyer into agreeing to a steep price reduction just to get the deal closed at the 11th hour, we were able to immediately connect the buyer with OUR preferred mortgage broker, who amazingly got this buyer a new loan commitment in only about 3 days at a better, more affordable rate. Well low and behold, the buyer then simply used his fresh new Commitment Letter from our broker to go back to his original lender to match his new interest rate so that he could afford his mortgage, and close this deal once and for all. It's absolutely disgusting that this buyer showed no loyalty whatsoever to our mortgage broker (who dropped everything to help him out), but in the end it took the efforts of our entire team to get it done. Never once did we even consider giving up; In fact, the more challenging and seemingly insurmountable this listing became, the more determined we were to get this closed successfully for our client. If not for our dedicated team and trusting clients, this nightmare would've surely become reality. But it didn't. Instead, it became yet another successful closing, with yet another happy client, for our team of dedicated professionals... Impeccable service. Outstanding results. Calemine & Co. Real Estate… LEGAL 2 FAMILY HOME, BEING USED AS A 1-FAMILY... Modern and immaculate home, on a huge lot, and on a quiet block, in the desirable Gibson section of the Incorporated Village of Valley Stream. This home features a main unit with 4 bedrooms and 2 full bathrooms on three levels of living space. A few steps below (separate entrance) is a 3-room basement with egress windows, 2nd kitchen and a 3rd full bathroom. This truly turn-key, move-in condition home has been owned, consistently updated, and meticulously maintained by a master carpenter for decades. Everywhere you look inside this home is absolutely spotless and well-built, including what you can't see behind the walls. Natural light and fresh air flows throughout the home with ease thanks to the spacious room sizes and the many oversized windows and doors. Central air conditioning ensures quiet and consistent cooling throughout while every level of the home features independent zones for efficient heating. Both inside and out, this charming home inspires pure serenity. Located only a short distance to the Gibson LIRR station that will transport you from this pristine and bucolic suburban neighborhood to the bustling center of Manhattan in just about 30 minutes. The Valley Stream State Park, with lush walking, jogging and bicycling trails is nearby and right next to the Incorporated Village Community Pool & Sports Complex that is open only to residents of this particular area. Low taxes ($11k/yr for Village, County and school). This home will provide its new owners the ability to live the American dream at an incredibly affordable price point. This is a rare opportunity to own a pristine suburban home, with excellent schools, and in a fantastic residential community, while maintaining close proximity to all of the benefits of big-city living. It's truly the best of both worlds! Must have a Pre-Approval for a 1-Family home in order to make an offer. Listed exclusively.

Details:

Bedrooms: 5

Bathrooms: 3

Property Type: 2-Family House

Interior Size: 2,423 total interior square feet

Lot Size: 50’ x 120’

Financials

Price: $799,000

Taxes: $10,882

Listed by: