Hamptons Magazine Hosts Private Party At Union Cantina

November 7th, 2016 by Town & Country Real Estate

Judi Desiderio, Ian Duke, Debra Halpert

(Town & Country CEO Judi Desiderio, Union Cantina owner Ian Duke, Hamptons Magazine publisher Debra Halpert)

Despite what you may have heard, fabulous parties in the Hamptons don't end on Labor Day – the guest lists just get more exclusive.  Hamptons Magazine, the go-to arbiter of style and all things chic, celebrated the upcoming 2017 summer season on Thursday, October 27, 2016, with a cocktail party and private dinner at the newly opened Union Cantina in Southampton.  Our own Judi Desiderio joined the celebration with Union Cantina's owner Ian Duke and chef Scot Kampf, the pair also own and manage the popular Southampton Social Club hot spot, alongside Hamptons and Gotham publisher Debra Halpert.  We can't wait to see who appears on the first summer cover in 2017.


TOWN & COUNTRY NORTH FORK 3RD QUARTER 2016 HOME SALES REPORT

October 20th, 2016 by Judi Desiderio

2016 3rd Quarter Home Sales on Long Island’s North Fork demonstrates the heightened interest in these beautiful hamlets.

Jamesport (which includes Aquebogue, Baiting Hollow and South Jamesport) saw 22 homes trade hands, a 37.5% increase from last year’s 16 sales, same quarter. Additionally, the Total Home Sales Volume rose 31% from $7.1M in 2015 to $9.3M in 2016.

Mattituck (which includes Laurel and Cutchogue) enjoyed a great July, August and September this year with a 13% increase in Number of Home Sales, a 41% spike in Total Home Sales Volume and a 6% rise in Median Home Sales Price to $520,000. In fact, Mattituck (which includes Laurel and Cutchogue) recorded the 3 highest price sales for the quarter, all over $2M.

Southold (which includes New Suffolk and Peconic) had 2 less home sales for the quarter and a 12% decline in Total Home Sales Volume, but the Median Home Sales Price price remained steady at $465,000.

Orient (which includes East Marion and Greenport) experienced a similar pull back with 1 less home sale and a 20% drop in Total Home Sales Volume. Yet the Median Home Sales Price price ticked up to $515,000 or 2.7% increase.

“Our North Fork markets are poised to continue enjoying increased activity for the remainder of the year”, stated Judi Desiderio, Chief Operating Officer.

Looking at All North Fork Markets Combined and you see most categories safely in the black.

To view all reports visit TownAndCountryHamptons.com/Reports.


TOWN & COUNTRY HAMPTONS 3RD QUARTER 2016 HOME SALES REPORT

October 20th, 2016 by Judi Desiderio

2016 3rd Quarter Home Sales in the Hamptons was, well frankly… all over the place.

This year to year statistical comparison shows definite signs of growth.

East Hampton Village set a new high watermark for Median Home Sales Price at $5.25M. All 8 home sales during these months were over $2M — “very impressive Median Home Sales Price, possibly a national statistic”, states Judi Desiderio, Chief Executive Officer.

Hot Montauk, more than doubled the amount of home sales from 8 in 2015 to 17 in 2016. Furthermore, the Total Home Sales Volume tripled year over year with a 198% leap to nearly $28M from $9M.

The Bridgehampton market (which includes WaterMill and Sagaponack) remained the top earner with $125M trading hands during July, August and September of this year. The Median Home Sales Price was a solid $3.9M, a 42% jump from last year’s $2.75M.

All Hamptons Markets Combined showed a respectable increase of 5% in the Number of Home Sales and a rise of 8.5% in Total Home Sales Volume, yet the Median Home Sales Price dropped 13% to only $850,000.

Looking back at our last bull market of 2014 and clearly you see the pull back since then when 410 homes close, with $760 million trading hands.

To view all reports visit TownAndCountryHamptons.com/Reports.


Stages’ Celebrates 22 Years with its 22nd Annual Halloween Bash “Frankenstein Follies”

October 20th, 2016 by Town & Country Real Estate

Frankenstein Follies - Gene Stilwell

Stages, A Children’s Theatre Workshop is throwing the  22nd annual Halloween Bash that you and your children won’t want to miss. Frankenstein Follies, a Halloween-themed musical review directed and choreographed by Helene Leonard with the support of her husband, Town & Country Real Estate's very own East Hampton Office Manager and licensed associate real estate broker Gene Stilwell, features all your favorite monsters and ghouls with a cast of local young performers.

"Frankenstein Follies IS and has been a Halloween tradition in Sag Harbor for 22 years!," says Gene.  "It has become an all-time favorite event for Halloween and just keeps growing!!!  Come have a howling good time this week end at the Bay Street Theatre!"

Join the fun at the Bay Street Theater in Sag Harbor on Friday October 21st at 7:30PM, Saturday Oct 22nd at 2:30 PM and 7:30 PM, and Sunday, October 23rd  at 2 :00 PM. Tickets are only $15.

Tickets for all performances of Frankenstein Follies are available at the Bay Street Theater Box Office, (631) 725-9500. For more information call Stages at (631) 329-1420, or contact us at info@stagesworkshop.org. Visit us at our website, www.stagesworkshop.org.


NEW HOME SALES IN THE U.S. HIT 9 YEAR HIGH

August 24th, 2016 by Judi Desiderio

Newly built single family residences across the country jumped 12.4% according to the just released U.S. New Home Sales Report. July 2016 was the best month-to-month increase since October 2007. Year-to-year the July increase was a whopping 31.3%! This puts new home sales levels back to levels equivalent with levels prior to the Great Recession, but below all-time highs reached in 2005.

According to the US Commerce Department, the seasonally adjusted annual rate of 654,000 newly built homes traded hands. In fact, the total amount of new homes sold in the U.S. for the first half of 2016 was up over 12% compared to the same period in 2015. Economists believe historically low interest rates and strong job markets are the main contributing factors.

Additionally, many young home buyers have been sitting on the sidelines for several years and are just now beginning to realize the importance of homeownership.

New homes create jobs. Not only by the construction of the home but there are jobs created with ancillary services such as landscaping, decorating, etc.  All of these jobs markets see significant increases when home sales increase.

Finally, the National Association of Realtors collaborated on the strengthening home sale markets with June’s report on previously owned homes, which hit a 10 year high. Real estate has been the beacon! 


MIXED SIGNALS

August 11th, 2016 by Judi Desiderio

Second quarter 2016 statistics have been released and they are not sending clear signals by any means.

On one hand, The National Association of Realtors reported that home prices rose in 83% of the nation’s 178 major real estate markets. Yet, according to CoreLogic Case Shiller Indices overall prices are now just 2% off the peak set in July 2006.

Homeownership rates are the lowest since the Census Bureau began tracking quarterly statistics in 1965 – now at 62.9%. Economists estimate 200,000 to 300,000 fewer US households are purchasing new homes annually, than during normal market conditions. The true American Dream of home ownership is in flux.

Personal wealth has always been driven for most by their homes. Retirement, tuition, vacations, and much more usually financed via home equity. Is there an entire generation of permanent renters out there? I hope not, for their sake.

First time home buyers are a critical piece of the puzzle and the government must support this vital future growth. Mortgage qualifications are a big part of today’s issues. Keep in mind, home sales create jobs and employ ancillary services from painting to landscaping.  It was home sales and the economic boost it provided that pulled us out of the worst economic downturn since the Great Depression.

How can lawmakers support growth from the bottom up?


TOWN & COUNTRY NORTH FORK 2ND QUARTER 2016 HOME SALES REPORT

July 29th, 2016 by Judi Desiderio

TOWN & COUNTRY’S 2nd Quarter North Fork Home Sales Report demonstrates uneven growth, but growth none the less.

Southold (which includes New Suffolk and Peconic) had the greatest up-tick in the Number of Home Sales at 25% —from 28 in 2015 to 35 in 2016 (same three months), yet experienced drops in the Total Home Sales Volume and Median Home Sales Price of 14% and 6% respectively. 

Jamesport (which includes Aquebogue, Baiting Hollow and South Jamesport) logged an 18% increase in the Number of Home Sales and a 20% jump in Total Home Sales Volume.

Mattituck (which includes Laurel and Cutchogue) and Orient (which includes East Marion and Greenport) each had one less home sale during the 2nd Quarter, year over year.

Looking at All North Fork Markets Combined you will note that only declines in the five price categories monitored by TOWN & COUNTRY were the $500,000 – $999,000 category by 22.45% from 49 to 38 from 2015 to 2016 and the $5M and up, where there were no sales vs. last year. The Number of Home Sales rose 8% in this year to year comparison yet the Total Home Sales Volume and Median Home Sales both experienced pullbacks of 3% and 14% respectively.

“The North Fork has established definite traction. I anticipate the 2nd half of 2016 to continue to gain momentum as more and more people discover the richness of North Fork living,” states Judi A. Desiderio.

To view the full report visit North Fork 2nd Quarter 2016 Home Sales Report. For all Town & Country Real Estate Market Reports, click here.


TOWN & COUNTRY NORTH FORK MID YEAR 2016 HOME SALES REPORT

July 27th, 2016 by Judi Desiderio

In analyzing the data from the North Fork markets for the first six months of 2016, the positive trends jump right off the page. All four specific North Fork markets experienced increases in the Total Home Sales Volume.

Southold (which includes New Suffolk and Peconic) posted the greatest increase in the Number of Home Sales with a spike of 32% from 53 in the first six months of 2015 to 70 in 2016 same period. The Median Home Sales price was also up 10% and Total Home Sales Volume grew 17%.

Orient (which includes East Marion and Greenport) realized a whopping 43% increase in Total Home Sales Volume from $22.2M to $32M year to year. In fact, the Orient market was totally in the black this report.

Mattituck (which includes Laurel and Cutchogue) saw a slight uptick in homes sales activity as did Jamesport (which includes Aquebogue, Baiting Hollow and South Jamesport).

“The glaring trend is the heightened activity primarily on the eastern end of the beautiful North Fork in the first six months of 2016,” states Judi A. Desiderio.

Looking at All North Fork Markets Combined and you will note healthy growth in the Number of Home Sales (+12%), as well as the Total Home Sales Volume (+15%).

Prediction for the balance of 2016, is a continued ascend for our North Fork markets.

To view the full report visit North Fork Mid Year 2016 Sales Report. For all Town & Country Real Estate Market Reports, click here... 


Town & Country Real Estate Annual Mid-Summer Cocktail Party

July 26th, 2016 by Town & Country Real Estate

Town & Country Real Estate Judi Desiderio, Lori Feilen, Amy Forst

There’s almost nothing better than a breezy summer night in the Hamptons sipping rose under a rose-colored sky by the waterside watching the yachts and sailboats go by.  It does however get better when you are enjoying said rose at East Hampton Point surrounded by friends and colleagues at Town & Country Real Estate’s annual mid-summer cocktail party. That was the scene on July 14th when over 100 agents, brokers, family, and friends from the Hamptons and North Fork offices gathered to enjoy the good life for a few hours. 

CEO and President Judi Desiderio was thrilled to see so many agents and brokers from all seven offices at the party.  “What a great night! I love to see everyone relaxing and enjoying each other’s company.  At T&C, we’re all about our people!” said Judi.  

And what do real estate pros talk about at a cocktail party?  Real estate of course.  There must be something in the water because all around the party agents and brokers were excitedly chatting about all of the deals in the works.  From sales and last-minute summer rentals to long term commercial leases the East End real estate business is looking good for Town & Country Real Estate.

"Mother Nature blessed T&C with a beautiful sunset over the harbor," said Judi.  "Great people, great setting, great party, and spectacular sunset.  What more could you ask for?"

Town & Country Real Estate Mid-Summer Party: Joan Bischoff, Jeanmarie Bay, Mladen Bay, Amy Quaranta, Lori Feilen, Pat Richards, Maryse Bransfield, Judi Desiderio, Melinda Markland, Nicholas Planamento, Nicole B. Brewer, Bill Brewer

All Photos by CB Grubb


TOWN & COUNTRY HAMPTONS MID YEAR 2016 HOME SALES REPORT

July 25th, 2016 by Judi Desiderio
 
Analyzing the Hamptons Home Sale data for the first six months of 2016 was like being on the Cyclone at Coney Island. The highs are huge — check out Shelter Island — and the lows makes your stomach drop‚ take a look at Southampton Village.

Shelter Island broke some records with 44 sales — a 76% spike from 2015 when only 25 homes sold in the first six months and nearly $50 million changed hands — almost double that of the same period last year.

Sag Harbor Village and Sag Harbor Area (which includes Noyack and North Haven) posted the greatest gains in Median Home Sales Price at 29% and 30% respectively.

Interestingly, the usual crown jewels seem to have lost their luster a bit. Bridgehampton (which includes Water Mill and Sagaponack) saw nearly all red across the board. The Total Home Sales Volume sank 34% — primarily due to the drop in home sales activity $10M and up.

Southampton Village and East Hampton Village, both estate areas, historically blue chips, realized significant pull backs. Southampton Village didn’t have one home sale $10M and up — it’s been many years since we saw that! The Total Home Sales Volume was off by 51% with 27% less sales, all of which recalibrated the Median Home Sales Price to $1.95M. East Hampton Village saw 31% less home sales from 35 in the first six months of 2015 to only 24 in 2016 same period. The Median Home Sales Price droppped 23% from $3.1M to $2.4M year-to-year.

The silver lining for East Hampton Village was the Total Home Sales Volume spike of 36% from $167M to $228M year to year. It must be noted though that this was due to 3 home sales on Lily Pond Lane. Two were part of Scott Bommer’s $110M flip, in addition to 199 Lily Pond Lane oceanfront which closed at $70M — none of which were listed for sale.

“Looking at All Hamptons Markets Combined and you clearly see that while there were some statistically wild peaks and valleys, the prime criteria monitored by TOWN & COUNTRY shows only slight variations.The Number of Home Sales was -6%; the Total Home Sales Volume -8.7%; Median Home Sales Price rose 2%. Not a bad ride afterall,” states Judi A. Desiderio.

View the full Mid-Year 2016 Report all reports visit TownAndCountryHamptons.com/Reports.