Archive for August, 2009

Finally, The Sun Came Out In The Hamptons

Friday, August 21st, 2009

 Town & Country was the first to identify the 2nd Quarter Home Sales Report* as THE BOTTOM….it was a bold statement but proven true.

Currently, there are O&A’s (offer and acceptance), contracts of sale, and closings- in every market and in every price range. All seven Town & Country offices are pleased to report deals are being posted with regularity. In fact, the North Fork offices reported five deals in five days! Looks like the sidelines are emptying out and the players are on the field!
Today’s East End market conditions are such that a floor has been established. We anticipate a balanced (level) market through 2010. In order to experience appreciation, demand must exceed supply, thus we need to work through current supply without an exorbitant increase in new listings, and see more buyers come into our markets. Then prices will move up. Buyers are ready, willing, and able. They just need the lending regulations to loosen up a bit. Banks went from lending money to just about anyone, (which was the origin of the lending crisis) to the current stranglehold where it’s nearly impossible to borrow against vacant land for speculation. Sterling credit and nearly 50% down on second homes seems common practice today. Regulations such as these act as tourniquets to real estate markets.
Fortunately, Hamptons and North Fork real estate has become a staple for many from New York City, nationwide, and now internationally so our audience has broadened over the years. Furthermore, we have aging baby boomers planning for retirement and there are always those with an eye toward investment opportunities. Some of these buyers can buy with cash or half down.  This is one of the best buyers’ markets we have seen in over 15 years.  Buyers with cash are in the driver’s seat.
All that said, hopefully you’re not going to be one of those who wished they’d jumped in, but missed the opportunity- Don’t miss the bottom!
The perfect storm that hung over us this past winter and early spring has finally lifted. The sun has finally come out (literally and figuratively).
 
Judi A. Desiderio, CEO
jd@1TownandCountry.com 

SHELTER ISLAND; the secret of an Enchanted Island Retreat within 2 hours from Manhattan

Wednesday, August 19th, 2009

The island’s name provides the essence of this wonderful island get-away: Shelter.

Shelter from the elements historically, Shelter to practice religion for the Methodists in the late 19th century , but nowadays more importantly Shelter from the hassle of our daily life… The island has succeeded to escape the urbanization of the rest of Long Island, and, along with the North Fork, reflects more of the lifestyle of the New Englanders who settled the place, than of the typical Urban dwellers sprawlingly urbanizing the surrounds of New York City. Locals will frown upon divulging this secret in a blog. I am counting they are not online….

So how can you become a part of this special place? Let me divulge the secret of the state of the real estate market here later in this blog: its a great time to buy a piece of paradise…

Count on getting to know the 2250 or so locals who live on this 8000 Acre island, most of which is set aside as a Nature Conservancy Preserve (and Mashomack preserve), by name: if you do it right they will know your’s. Not to worry, New England privacy -maybe reservedness-  is respected and developed into an art on Shelter Island. The island, maybe for that reason, is home to many a quiet celebrity, enjoy the natural beauty of this spectacular place.

The Ferries from Shelter Island to and from either Sag Harbor or Greenport jealously guard the privacy of Shelter Island – the only way to get on or off , protecting the likes of this golden oldie victorian overlooking Deering Harbor.

 

 

 

Summer Rentals provide a great way for people not from the island to get to spend some time. A room at the Rams Head Inn with its great lawn makes you a part of a Merchant Ivory movie scene.

In Summer you will meet Itzhak Perlman who leads a summer camp master class for the world’s most talented musicians-to-be. You can attend practice picknicking at his lawn or attend one of many regional concerts.

"Vine Cafe" and hangout for beautiful people, "Sunset Beach" at gorgeous Crescent Beach overlooking Southold Bay will provide entertainment and people watching, not quite as ostentatious as in the Hamptons, but much more refined. But do not be surprised to meet Grandma’s bridge partners having lunch while movie stars engage in romance at a table in the back….away from it all, protected from the paparazzi, the newst Shelter this Island now provides.

The town fathers have enacted laws making it very difficult to find Real Estate for sale on Shelter Island; no for sale signs can be placed by Realtors. Saturday Mornings you may be lucky to find some temporary Open House signs providing you with a glimpse of what could be your’s…before its really Beach Time. Realtors are not listing their properties on MLS in general. Values have not suffered from these practices, until now.

I personally have not seen value such as today’s on the Island of Protection, Shelter Island. From small shacks to brand new homes, from multimillion dollar waterfronts to a piece of land overlooking small creeks, opportunity is knocking loudly……

So talk to someone who knows the Island to help unveil its secrets. Now this is enjoyable house hunting. And become a part of Shelter Island, live longer, let Town and Country help you, providing you with Concierge service!

GREENPORT: NORTH FORK BOOM-TOWN

Tuesday, August 11th, 2009

Remember you learned about this great secret at Town & Country’s blog first: a leg up on all the people searching for fabulous real estate opportunities: one for the record books:

(And don’t forget about us when you become rich and famous…..) this is a bit of a long blog: the secret is at the end of the blog!  Shhhh don’t tell anyone…….

The charming and historic maritime village of Greenport, judged by the number and caliber of new business openings lately, this Town is booming. Without any exaggeration. Much of the news centers around the theme of what everybody loves on the North Fork: Fish(ing), Food (Agritourism) and Wine, and the places to go and stay to take it all in. Greenport is in the center of all that is happening in the North Fork, New York’s Wine Country.

Take for example the Greenport Harbor Brewing company opened this summer…just behind Front Street, next to what looks like a Wild West Jail building where Greenport’s mischievous would have been housed temporarily in the past, the hustle-bustle tourist part of the Town.

 

A bit further down Main Street, just past Frank Purita’s  D’Latte (where you will enjoy the best Italian Gelato West of Rome) Nello Balan, culinary celebrity in Manhattan and South Hampton, is re-opening the former "Isle de Beaute" restaurant as "Seaweed".  Construction is underway there, and ground was broken for the large scale renovation at the site just accross the street where Nello will open a Hotel

 One of my favorite restaurateur’s on the North Fork, Dennis McDermott (FOH) and Hank Tomashevski (who scored a 7 year hit with the Frisky Oyster Restaurant ) opened Frisky Oyster Bar on Front Street…. with dining "al fresco" finally on Front Street overlooking the Carroussel and Souhold Bay/Greenport Harbor.

 

Mayor Kapell oversaw years of redevelopment of the Greenport Waterfront resulting in a quite attractive and family friendly down town in this spectacular yet cozy Maritime Town.

Family style "This little Italian Place" opened this week on Front Street with Southold’s favourite Italian Son, Joe Pagano returning to cooking family style Italian food and again, finally al fresco dining! And all these great places from simple to expensive are all walking distance in a 3 or 4 block area of Greenport’s waterfront Down-town. And don’t forget the welcome additions from previous years: (without getting into the Starbucks love-it or hate-it discussion) : The Loft (& Harborfront Deli), Barbeque Bill’s,and if you didn’t bring something appropriate to wear -whatever that means on the North Fork- ladies: visit Mint Boutique!!!

So now the catch-all secret: Greenport Real Estate, with the most charming fixer uppers on quiet, tree-lined avenues looking for tender love and restoring care, galant Victorians entirely restored, or glorious waterfronts, Greenport real estate has never been more affordable, is basically "ON SALE".

Check out also the special incentives for First Time Home Buyers, which bring these fixer uppers entirely within financial reach – you may be very pleasantly surprised! Call Town and Country’s family of local Real Estate professionals for more information, or email me at jbischoff@1townandcountry.com.

Buy a home now in Greenport. You’ll be glad you did. Before anyone else finds out what’s been happening!

Westhampton Beach August 2009 Events

Monday, August 10th, 2009

 

WHBPA - Aug.The Westhampton Beach Performing Arts Center
Laugh aloud to live stand-up comedy at the 4th annual Long Island Comedy Festival. Relive the punk rock sound of Rock n’ Roll Hall of Famer Patti Smith. Fall in love to the romantic songs of Steve Tyrell. Be dazzled by the guitar virtuoso, Leo Kottke. Sizzle along with the Romance DeTango, Director Leonardo Suarez Paz’s latest production. Be blown away by jazz violin rock star Regina Carter. Experience a live performance from the New York City Opera and celebrate the best of Mardi Gras with New Orleans’ native sons, The Neville Brothers and Dr. John & The Lower 911. All in all August will be a sensational musical month in Westhampton Beach.
 
Arts FestivalWesthampton Beach Festival of the Arts
The Great Lawn, West Main Street
Saturday and Sunday, August 22 and 23, from 10 a.m. – 6 p.m.
Presented by St. Mark’s Church. Two-hundred artisans will feature their original paintings, sculpture, textiles and jewelry. Also showcased will be pottery, drawing/pastel, clothing/fiber, furniture/wood, glass, jewelry, leather, metal, mixed-media, painting, photography, and printmaking.
 
 
 
FarmerWesthampton Beach Farmer’s Market
Saturdays all summer into the fall, from 9 a.m. – 1 p.m.
4th St. Mill Road
Enjoy buying locally grown fruits and vegetables while enriching the local economy and enhancing your own health and well-being. You can’t beat eating fresh, delicious fruits and veggies picked that day and at the same time helping support your local farmer.