Archive for July, 2015

TOWN & COUNTRY TOURS THE NORTH FORK

Friday, July 24th, 2015

Town & Country took their Hamptons Associates to view the finest properties on the North Fork offered exclusively through our North Fork offices and Westhampton Beach.

We began our excursion on the western end at IN#40326 a 23 acre mixed use property. Farm land with all development rights in tact as well as commercial use.

Then off to a 10+ acre horse farm IN#51500 two single and separate lots with a traditional home, barns, paddocks and an indoor riding ring.

We broke for lunch at the beautiful Mattabella Vineyard for what felt like a slice of Tuscany. Enjoying beautiful vine views, incredible food and one of the finest rosé.

The afternoon was a true delight!

First a spectacular 72 acre waterfront farm IN#34966 for an amazing $7M and limitless potential!

Lastly, a private sound front subdivision, perfect for a builder or family compound.

On the way back to the South Fork everyone was amazed at the beauty and opportunities abound. Investors were on instant dial for our Associates. Come explore the beauty and civility of the North Fork!

Town & Country’s Annual Summer Party

Tuesday, July 21st, 2015

Town & Country’s Annual Summer Party was a lobster bash at Georgica Beach in East Hampton Village.

The event was catered from Bostwick’s and all of the food, from the guacamole to the lobsters and muscles in an amazing white wine sauce were so yummy!

T&C Associates and their loved ones enjoyed the perfect evening setting. Great food, great company and great star filled night!

The evening closed with a bonfire and s’mores of course… how else would you end the perfect celebration of the season! 

   

   

 

                                                      

Judi A. Desiderio, Chief Executive Officer
JD@TownAndCountryHamptons.com     
631.324.8080 ext. 221

TOWN & COUNTRY HAMPTONS 2ND QUARTER 2015 HOME SALES REPORT

Monday, July 20th, 2015

This second quarter report of 2015 is a most unusual one. After reporting on home sales statistics for over 30 years, even I still get surprised by the factual numbers as they are recorded.

TOWN & COUNTRY’S Home Sales Reports are laser focused on 11 specific Hamptons markets, monitoring 3 criteria. The first metric of the Number of Home Sales shows 8 of the 12 markets are down, 1 flat and only 3 markets reported increases in the number of trades. Magnificent Montauk saw the greatest increase of 22% from 23 to 28 homes sold same quarter year-to-year. Sag Harbor Village and Sag Harbor Area (which includes North Sea) experienced the greatest declines of 45% and 43% respectively. 

The second metric of Total Home Sales Volume tells a different story for the 2nd Quarter of 2015 with 6 of the 12 markets enjoying increases by as much as 69% in Westhampton (which includes Remsenburg, Westhampton Beach, East Quogue, Quogue and Quiogue). In fact, the Westhampton markets had a statistical joy ride with significant increases in all 3 criteria monitored by TOWN & COUNTRY. Westhampton (which includes Remsenburg, Westhampton Beach, East Quogue, Quogue and Quiogue) had 20% increase in the Number of Home Sales, a 69% explosion in Total Home Sales Volume and a giant 76% up-tick in the Median Home Sales Price from $697,500 to $1,225,000. Looking closely at the 8 specific price ranges we track and the picture is clear that the increases in activity were at the higher price points.

While the 76% jump in the Westhampton’s Median Home Sales Price is impressive, East Hampton Village was off the charts with a 93% leap from $2,678,750 for the 2nd Quarter of 2014 to $5,175,000 for the same Quarter 2015. East Hampton Village logged 4 of the 10 sales $10-$20M for the entire Hamptons. Bridgehampton (which includes Water Mill and Sagaponack) was an honorable mention with 3 sales in that price category and the only Hampton market to log a home sale over $20M. In fact, the top sale for the quarter was a $29.5M sale of 493 Rose Hill Road in Water Mill, Andrew Zaro’s beautiful home on Mecox Bay.

Looking at All Hamptons Markets Combined and you see that the 2nd Quarter of 2015 was only slightly off from 2014 or 40 less transfers, but the Median Home Sales Price and Total Home Sales Volume both increased due to heightened activity in the higher price points. In fact the $3.5M – $4.99M price range saw the greatest increase in activity with 47% more sales.

Click HERE for full report & statistics: 

Judi A. Desiderio, Chief Executive Officer
JD@TownAndCountryHamptons.com       
631.324.8080 ext. 221

Dan’s Grill Hampton and Taste of Summer were a smashing success this weekend!

Monday, July 20th, 2015
Friday night my husband, John Tracy and I were in attendance with Jon and Tracy Grossman. The event was presented by Pat LaFrieda and hosted by Robert Irving & Marc Murphy.
 
Hampton chefs were Arthur Wolf of Smokin’ Wolf  BBQ, Colette Connor of The Inn Spot on the Bay, Julio Quisbert of The Old Stove Pub and Jason Kallert of Tillie’s At Gurney’s Inn.
 
NYC Chefs included Harold Moore of Commerce, PJ Calapa from Costata, Gabe Thompson of L’Apicio, Paul Denamiel, Le Rivage, Julian Medina, Toloache, Joe Isidori, Black Tap Burgers & Beer, Ash Fulk from Hill Country Barbecue Market, and Ben Zwicker of TBar… great food, great drink and great company!
 
 
Judi A. Desiderio, Chief Executive Officer
JD@TownAndCountryHamptons.com     
631.324.8080 ext. 221

US HOME SALES MARKET CONTINUES ITS ASCEND

Wednesday, July 8th, 2015

Several months back I blogged about how the housing market was going to be the main driver for the US economy, and fortunately for every homeowner, this has come to fruition.

 

NOW LET’S HEAR FROM THE EXPERTS!

 

The National Association of Realtors reported that sales of existing homes in May increased 9.2% from the same month for the prior year and new home sales soared 20% from a year ago to the highest level in 7 years!

 

Last month’s S&P/Case- Shiller Home Sale Price Index Report of March 2015 posted a 5% gain year over year. In Addition the April data released June 30th reported the 20 city index increased 4.9% year over year with a 1% gain month over month.

 

All 20 cities that made up the composite, increased in April before seasonal adjustments, with 12 cities up after said adjustments. “Home prices continue to raise across the country, but the pace is not accelerated”, quoting David M. Blitzer, Managing Director & Chairman of the Index Committee at S&P Dow Jones Indices. S&P/Case-Shiller Composite are a 20 city analysis which is widely referred to for national home prices.

 

First time home buyers made up 32% of all sales in May, a considerable leap from the 27% from the prior year, but still have room to grow back to prior averages. The ability to qualify for mortgages is an important factor in this environment as is rate increases. Consensus is that interest rates will rise in 2015 after being held at near zero rates, but the increases are expected to be at digestible amounts. 

 

All things considered, a continued slow and steady ascend looks to be the trajectory of the US Housing Market for 2015.

 

Judi A. Desiderio, Chief Executive Officer

JD@1TownandCountry.com                

631.324.8080 ext. 221

Block Island

Wednesday, July 1st, 2015

Block Island is so close to home yet a world away. I suggest a visit soon to this beautiful place!

Judi A. Desiderio, Chief Executive Officer

JD@1TownandCountry.com                     

631.324.8080 ext. 221