Archive for July, 2011

HOME SALES NATIONWIDE INCREASE GREATLY

Thursday, July 28th, 2011

It never ceases to amaze me how the media can spin a story any way they want to… and when I see people “drinking the Kool-Aid” I want to scream “THINK!!!”.

So, National Association of Realtors (NAR), just released the June Pending Home Sales Report… and the news is BIG! But what am I reading on every business news website is reporting on the the 1 negative component.

CNBC & others are highlighting that 16% of Contracts of Sale for homes nation wide are not getting to the closing table where in a ‘normal year’ (what ever that is)—it’s 4% that don’t sit down to closing. Then the Chief Economist for NAR says he’s “baffled”… are you kidding??

I think he may be too far from the trenches. To further add insult to injury, the agents they interviewed attributed it to “consumer confidence”… are you kidding?? Are you still on the front line??? Then, of course, they mention the embarrassing stalemate on Capital Hill. Now that is HUGE economic news … but it can’t be blamed for contracts not closing in June… but you’d have to be pretty foolish not to get that! I guess when economic news is that BIG they blame everything on it…. But it’s NOT consumer confidence, it’s not the national debt ceiling,, and with all due respect—it’s not at all “baffling”. Plain & simple, it’s basically 3 elements that have compounded problems for any home buyer today… #1- Appraisals—Appraisers are being ULTRA conservative to the point of WRONG evaluations—but remember they were in the mix of “what went wrong leading to the housing bubble burst”… so now they are calling ALL housing markets “negative moving” when certain segments have proven stable & others even appreciating. #2- FINANCING—OMG—lenders went from offering ANYONE & EVERYONE mortgage money to wrapping a death grip around their funds.. #3- SHORT SALES—while locally a rare commodity,, on a national level they make up a significant segment of the market—the problem here— TIMING!!! Buyers can be in contract for over a year.. some wait months only to find their offer was rejected and another buyer got it for a few thousand more.. it’s like going to a new restaurant, that advertises for “good food at good prices” … you sit down with your family… wait forever,, service is the worst you’ve ever experienced and the appetizers come and they flat out stink.. after another torturously long wait, they come back & tell you there’s no more food… on your way out, you see another table that got your food, in less time, with better service… so you leave & tell everyone you know NOT to ever go to that restaurant –GET IT! So now short sales,, which nationally make up a significant segment of the market, are avoided like the plague. Just walk a mile in any successful Agent’s shoes and you’ll hear stories about contracts that fell apart for either 1,2 or 3!

They all, either missed, or chose NOT to report on the BIG NEWS…. The BIG NEWS is that NAR’s June Pending Home Sales Report showed a 30% INCREASE year over year-June 2010 to June 2011- that’s HUGE! and a 2.4% increase month to month May to June 2011.

Don’t they get it—the media has the power to spin any report or story any way they choose—read the facts—the #’s never lie!

Elvis Costello SOLD OUT the Westhampton Beach Performing Arts Center

Thursday, July 28th, 2011

Elvis Costello and the Imposters played to a sold out audience at the Westhampton Beach Performing Arts Center. On stage was a huge game show wheel ,“The Spectacular Spinning Songbook”, which selected audience members put into motion featuring song titles like the first spun classic “Accidents Will Happen”.

A highlight for the evening was the song “Town Cryer”, which is virtually never played live. It was absolutely fantastic!

“Radio Radio” was awesome. The beads were flying as a Go-Go Girl was relentlessly tearing up the Go-Go Cage.

The theatre of 425 seats was an intimate setting for the Grammy winning Elvis Costello and the Imposters. “A Slow Drag with Josephine” was beautifully done. Costello briefly sang acapella, which truly felt like Elvis was in your living room.

Fedoras off to the Westhampton Beach Performing Arts Center for bringing such musical Icons to the hamlet. 

 

New Hamptons Home for Bloomberg

Thursday, July 21st, 2011

Cryptomeria, a magnificent 35 Acre estate in Southampton, is soon to be the Hamptons home of NYC Mayor Michael Bloomberg.

Cryptomeria, named after the tall evergreens which dot the estate, was built in 1910 for Charles Blair Macdonald, golf course designer. It is a beautiful 22,000 square foot turn of the century home with 8 fireplaces, 11 bedrooms and of course.. pool & tennis. Mr Blooberg will enjoy sweeping views across Bullhead Bay while strolling his 35 acre estate.

Tony’s Asian Fusion opens in Mattituck on the North Fork

Tuesday, July 19th, 2011

 

Tony's Asian Fusion Mattituck

Tony's Asian Fusion opened up in Mattituck – great news for those of us who have a craving for better Chinese and Thai food! It's located conveniently on the corner of Factory and Main Road, accross from Waldbaum's – and you'll be surprised who I already met there! Find out for yourself and welcome this new business on the North Fork! And try their Chicken Red Curry with a glass of One Woman's Gewurztraminer… Delicious! take-out or relax in a beautiful brand new dining room.

SOUTHAMPTON GOES SHOPPING FOR LAND

Tuesday, July 19th, 2011

  

SOUTHAMPTON TOWN SPENDS $10,000,000 ON LAND THROUGH THE COMMUNITY PRESERVATION FUND.

Southampton Town Board approved the purchase of 3 separate holdings. The largest of the acquisitions was a $7.5M for the development rights to farmland in North Sea we call the Lands of Corwith. It is a 50 +/- acre tract of land north of the highway on David Whites Lane. Such a purchase of development rights is the best of both worlds… the farmer gets to continue to farm the land—and we get to continue to watch while they do—and yet they are restricted from developing said property.. a win-win for all!

A 8.2 acre parcel along East Montauk Highway in Hampton Bays will be purchased outright for $1.1M. Any time we preserve vacant land along the major access roads on the East End it’s a gift to all of us. As we then get to enjoy the rural corridors that have existed for hundreds of years and is the essence of the beauty of the tips of Long Island.

The third and final acquisition was of 7 acres that were slated for subdivision in Quiogue along Aspatuck Creek owned by Oakland Farms Inc for $1.1M!

The East End is better for all three acquisitions!

The Peconic Bay Shopper and famous Waterfront homes on the North Fork

Sunday, July 10th, 2011
No 4 on the list of America's best beaches
The East End of Long Island has long been a getaway for the rich and famous. Since the 1980s the Hamptons have dominated the news as the playground for Manhattan's who'se who. The mix of proximity to the City and the world's best Ocean Beaches with great daytime (the most upscale shops and boutiques East of Manhattan, fabulous Golf courses and boating/fishing grounds) and night-time entertainment (famous restaurants and scenic nightclubs) still prove irresistable today.
But not that long ago, long before Allan Schneider put his very personal mark on the Real Estate market of the Hamptons, really since the 1850s, large Inns and Hotels dotted the North Fork from Orient to Jamesport… and industrialists like the Marshalls and the Cosdens built fabulous waterfront homes on the bluffs overlooking the Sound long before the fame of
the Hamptons. One of the local papers – the Peconic Bay Shopper - explains the relevance today of why these people choose the North Fork then. Local historians discuss and show old pictures of these fabulous times. In the last issue of the Peconic Shopper Norman Wambach and others explain that the Cosdens (see the link right to a book by Mr Fleming of the Southold Histroical Society) and the Marshalls were here for the same reasons people now flock to the North Fork: fabulous waterfront properties and some of the most beautiful sunset views over the water from high cliffs, reminiscent of Central America's ocean coasts, great boating (some of our seafarer's towns such as Greenport and Orient helped shape the economy we as we know it in America), some of the nation's best Golf courses, and most important – respect for each other's privacy. Quietly, famous artists such as Paul Taylor have spent their summers for years alongside people like fashion guru Robert Verdi who just I heard closed on a contemporary North Fork Soundfront home in May of this year ($2,395 Million).
Most of the North Fork's best Waterfront homes are well hidden – which should come as no surprise given the low-key preferences of most North Forkers. Given the North Fork's realtively small size, the waterfronts are spectacular, surround the entire peninsula and are usually still close to shops and restaurants. Some of our waterfront properties on the North Fork are on the Peconic Bay side, looking towards the Hamptons or Shelter Island…and Cutchogue's Nassau Point is probably home to one of the area's most spectacular Bayfront Bluff properties. But the beach along Indian Neck in Peconic is another spectacular hidden gem – where Lewis Bacon – who also owns Robin's island – purchased a large estate.
The Long Island Sound-side of the NOrth Fork provides either high bluffs and sunsets over the water unparalelled in the North Eastern Coastline on the US, and at two places low beaches -hence the comparison of McCabe's and Kenney's Beach areas to Westhampton Beach. At two places the Sound beaches open up at Goldsmith Inlet in Peconic and at Mattituck Inlet – home of the Old Mill Inn
MAttituck Inlet
one of the North Fork's oldest watering holes (with Greta van Susteren as investor – she's been seen bar tending as it is whispered…).
t is said that Blue Man group members exchanged their property on Town Creek in Southold for a larger one – and are currently in the process of selling a beautifuly restored historic home – right on the creek, with its own dock.
Goose Creek
 
Creeks and inlets are another form of waterfront property – most popular with boating enthusiasts and fishermen… some of these creekfronts come with docks and protected landing spaces for your boats – even boat captains in the 18th century were looking for protection of their ships at North Fork coves and inlets against inclement weather.
Some Creekfronts are now for sale at very affordable prices - let Town and Country agents help you find the right one.
Contact our Town and Country Real Estate agents who are carefully selected and experienced specialists to help you find or sell the perfect waterfront on the North Fork and help you navigate the shoals of waterfront buying and selling…

FINALLY!!!!

Friday, July 1st, 2011

 

Finally the media is easing up on their Real Estate Market bashing!

 

In the past 2 days you’ve been reading & hearing Home Sales Prices Rose & Contracts for Home Purchases Rose.

The most recent was the report by the National Association of Realtors stating an 8.2% increase in the month of May from the previous month. The index was 88.8 from April’s 82.1, which was a seven month low. A reading of 100 is considered by most economists  to be a healthy housing market…. The last time it was at that level was April 2010.. but that was a false positive as it was at the end of the $8,000 Federal Tax Credit.

The real news is the National Housing Market is gradually ascending to normal levels.   

NO-VACANCY SIGNS ARE GOING UP AT BRAND NEW “BLUE INN” IN EAST MARION FOR 4TH OF JULY WEEKEND

Friday, July 1st, 2011
Blue Inn at East Marion, North Fork

Montauk Hotelier Sam Glass succeeded in bringing the best of the North Fork and South Fork & the Hamptons together: the owner of Montauk’s Ocean Resort Inn is opening the Blue Inn this fourth of July weekend!

Visitors to the North Fork looking for a place to stay: pay attention! The Blue Inn will be the place to be beginning this weekend and no vacancy signs are going up quickly (still call to see if there are a few no-shows or cancellations – worth a try!!)

The renovations which took place since Sam Glass bought this famous North Fork watering hole and Inn last year made all the

Blue Inn Guestroom

rooms and suites conform to the highest standards in hospitality: clean, luxurious and tasteful! Each room has its own small kitchenette

The Blue inn is located conveniently on the Main Road in East Marion – only a few miles form hustling and bustling Greenport

Lavender by the Bay

Village with all its harbor-front shopping and dining. While you are relaxing on one of the rocking chair porches or sipping a cocktail at the Bar you’ll get a whiff of the breeze from the west where Lavender by the Bay has its neighboring acres fields of French Lavender blooming this weekend. It all spells out one thing: Relax and enjoy!

 

Worth a visit – and While you are out visit a few of Town and Country’s open houses on Saturday!

Welcome to the North Fork and Happy Fourth!

Porches with Rocking Chairs at the Blue Inn