Archive for May, 2013

JOHN A. VITERITTI, THE REAL ESTATE INSTRUCTOR FOR THE HAMPTONS & NORTH FORKCHOOSES TOWN & COUNTRY REAL ESTATE

Thursday, May 30th, 2013

John A. Viteritti, Real Estate Consultant and Lecturer, has chosen Town & Country Real Estate to be his real estate broker for both the listing of his home, as well as his next purchase.

 

For the past 15 years, John has been teaching real estate licensing and continuing education classes at New York University, St. Johns University, Lehman College, Long Island University, and for the Hamptons & North Fork Realtors Association and the American Real Estate School.He serves as a consultant to the real estate industry and is the subject and author of numerous real estate articles. He also does private seminars and training for real estate professionals.

 

Kate Carpluk of Town & Country’s Mattituck office is his representative. Kate feels both honored and privileged to be John’s agent, knowing he is familiar with just about everyone in the business on the East End, as well as being knowledgeable in all things real estate related. John states “Kate is doing a great job. My wife, Carol, and I find her a delight to work with. Town & Country offers the benefits of the corporate approach, essential to success in today’s real estate market, combined with the personal touch reflected in the “hands on” involvement of its President, Judi Desiderio, Executive Sales Manager, Joan Bischoff and Associate Broker, Kate Carpluk. Kate’s reputation as a hard working, highly professional real estate agent has certainly been borne out by our experience with her. She is a pleasure to work with and we feel very comfortable in her hands.”

East Hampton’s Main Beach tops annual list of best beaches in US

Thursday, May 30th, 2013

Main Beach in East Hampton, NY

EAST HAMPTON — This may be hard to believe in the aftermath of Superstorm Sandy, but an annual list of the best beaches in the country has a New York beach ranked No. 1.

Less surprisingly, that beach is in East Hampton, the vacation playground for the rich and famous.

In an announcement that coincides annually with the unofficial start of summer, coastal expert Stephen P. Leatherman on Friday released the 23rd version of his Top 10 Beach List, placing Main Beach in East Hampton at the top.

"The thing about the Hamptons is that people are so proud of their beaches out there," Leatherman told The Associated Press in an interview in advance of the release of his list. "People pick up their litter there, the bathrooms are clean; they provide good services."

Leatherman, who goes by the nickname Dr. Beach, visited Main Beach earlier this month. He said that unlike many beaches farther to the west and in New Jersey, the beaches on eastern Long Island saw less erosion and flooding from the effects of Superstorm Sandy.

"Considering the magnitude of the storm, people will be very pleased to see that Main Beach is the way they remember it," he said.

Leatherman, a professor at Florida International University in Miami, has visited beaches around the world and uses criteria like water and sand quality, as well as safety and environmental management, to compile his annual list. Once a beach reaches the pinnacle of No. 1, it is retired from future consideration, he said.

Coopers Beach in nearby Southampton, N.Y., was the No. 1 pick in the 2010 survey. Sarasota, Fla.'s Siesta Beach was tops in 2011 and Coronado Beach in California earned the top spot in 2012.

The other nine on Leatherman's 2013 list after Main Beach are: Kahanamoku Beach, Waikiki, Hawaii; St. George Island State Park, Fla.; Hamoa Beach, Maui, Hawaii; Waimanalo Bay State Park, Oahu, Hawaii; Barefoot Beach Preserve County Park, Bonita Springs, Fla.; Cape Florida State Park, Key Biscayne, Fla.; Cape Hatteras, Outer Banks, N.C.; Coast Guard Beach, Cape Cod, Mass.; and Beachwalker Park, Kiawah Island, S.C.

East Hampton village residents have free access to Main Beach, although parking permits are required from May 15 to Sept. 15. Non-residents can buy parking passes at $25 per day but they are limited in number, with only 40 non-resident daily parking passes sold on weekends and holidays.

Max Scainetti, a lifelong East Hampton resident, said the tiny grains of tan sand and the cleanliness of the beach are two of the things that make Main Beach special.

"This is one of the best beaches in the country and I've been to a lot of beaches," Scainetti said. "I think basically it's a lot to do with the sand. A lot of Long Island beaches tend to be rocky where these are more sandy beaches."

Javier Baldo, an East Hampton cook, said he has visited Main Beach regularly for about eight years.

"It's fairly civilized. It doesn't get too crowded. The water is delicious," he said. Delicious? "It's really great water, it's really clean. You just have a lot of space."

Baldo said celebrities are sometimes seen at the beach, but people generally keep to themselves.

"It's quiet, there's no loud music playing. It's obviously very safe; great lifeguards. There are really great lifeguards. They're actually fit and very well experienced. That's a big thing, just the safety," he said.

From ASSOCIATED PRESS

Housing Recovery

Friday, May 24th, 2013

Town & Country has been predicting on the US housing recovery and reporting on the steady improvements in the Hamptons and North Fork markets for quite some time. In fact, in our blog www.TownandCountry.com/blog, we went so far as to say the housing market will be the major contributor to our economic stimulus which will result in the next accelerating market. Nationally, new home sales hit record prices, both the average price as well as the median price, in April as per the Commerce department. Furthermore, builders reported selling 454,000 new homes whcih is a 29% increase from April 2013 and only 100,000 less than the peak in 2006. You don't need a crystal ball to see the future of home sales. Are you in?

7 ESSENTIAL CHARACTERISTICS YOUR BROKER NEEDS

Friday, May 10th, 2013

-          Experience… years in the industry ensures your agent has earned his/her stripes yet a progressive thinker captures more attention for your home. He / she should be seasoned enough to do a walk through with you and make recommendations as to improvements needed to net you the highest price.. sometimes it can be as simple as powerwashing the exterior of the home to , let’s redecorate a bit—and stage your home so buyers focus on the room and how to best design the interiors.
-          Market knowledge .. agents you interview should come with a CMA or comparable sold & available homes in your vicinity & price point. They should have the depth to speak knowledgably about recent sales, pending deals, and what today’s customer is looking for—gives you insight
-          Advertising team.. today’s real estate world is vastly different that even 10 years ago.. the internet is the source of half of all buyer leads today therefore internet exposure, export feeds etc are all imperative. The agency behind the agent should have a marketing team who focus all different mediums such as traditional print, internet, direct mail & in-house clientele lists. Does the Broker have the resources needed to cast a wide net for you?
-          Pricing genius.. the agent who gives you the highest suggested asking price is not always your best choice.. in fact most times they can cost you valuable time & money. Too many agents will tell sellers what they want to hear just to get the listing.. don’t be romanced. I always say, the truth doesn’t always win friends and influence people but the truth is what prevails.. and when you are in the business as long as I am, reputation is paramount. The facts are what you need to make an educated decision—once you see the comps (sold comparable properties) and you see what your competition is then you can clearly see the range your home should be priced in. Then listen to your agent as to what their recommendation is and ask WHY? Pricing is one of the most important and one of the most difficult aspects of a successful outcome.
-          Communication expert … your agent should take the time necessary to LISTEN to you first and foremost,, hear what your motivation to sell is and the timing that is optimal for you. Then he/she should keep you continually apprised of all their marketing efforts and any feedback so that together you can tick & check
-          There for you… in today’s high speed world of instant gratification timely responses are critical. This could mean the difference of getting the sale or losing it! Your agent needs to be accessible 7 days / week. Obviously no one works 365 days a year—though most power brokers come very close—they should be accessible by phone, text or email… and if they can not be present for a showing or inspection, that’s fine, provided they coordinate, over see and have a qualified associate assist on their behalf
-          World class negotiator… once a potential buyer is engaged, your lead broker should be the only one negotiating for you. His or her skills becomes the clincher. In my professional opinion, negotiation skills are the last to develop in sales people, yet some are natural negotiators and others will always find limitations there. In your initial interview of agents, you will be able to ascertain their negotiation skills by how confidently they navigate the conversation of pricing, positioning and commission rate. You want to hire the broker who will close the deal skillfully in the most favorable light for you—the client!

CPF FUND BACK IN THE MONEY!

Friday, May 3rd, 2013

The Peconic Bay Community Preservation Fund, or CPF tax is a 2% tax charged to the purchaser of real property on the East End (over minimal levels) since it’s inception in 1998.
We have discussed the parameters of this tax and the ramifications many times in this T&C BLOG, so I won’t bore you with the details.
BIG NEWS on the CPF front is the first quarter deposits to the fund… nearly twice that of a year ago!
In the first 3 months of 2013, $20.23 Million was raised in comparison to the same period in 2012 when $10.5 Million was collected.
$800 Million dollars total in the past 15 years has been accumulated for the sole purpose of preserving the beauty and light here in our little slice of Heaven.
So the next time you are sitting at that long awaiting closing table, and have to write out yet one more check to the Peconic Bay Community Preservation Fund, you can smile knowing this one is truly going to a useful means of preserving the reason you chose to purchase on the East End—it’s natural beauty! 

HOUSING MARKET FULLY RECOVERED

Thursday, May 2nd, 2013

February marked the first month in 7 years — since the crash—that US Home Prices rose at the fastest pace as buyers jumped in before prices and interest rates rise too much.
Standard & Poor’s Case/ Shiller index jumped 9.3%.
This widely recognized report monitors 20 major metropolitan cities – for the second consecutive month ALL 20 cities monitored saw year over year gains.. this hasn’t happened since 2005 which for the East End, was the height of the home sales market with the most number of home sales closed.
The cities that were hit the hardest in this Great Recession, seemed to realize the greatest acceleration, with Phoenix rocking a 23% year over year gain in prices.
The next important conversation needs to be about inventory levels which are at a 10 year low.
We all know what happens when demand increases and inventory levels decrease—yes that’s correct—prices go up!
 
ARE YOU IN?