Archive for the 'Joan Bischoff' Category

Town & Country Real Estate Annual Mid-Summer Cocktail Party

Tuesday, July 26th, 2016

Judi Desiderio, Amy and Mike 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?"

North Fork agents of Town & Country Real Estate

All Photos by CB Grubb

Strongest First Quarter Sales in a Decade

Wednesday, April 27th, 2016

The New York State Association of Realtors announced its NYSAR first quarter report 2016 on Real Estate activity in the state, and it contained excellent news!

“Three consecutive months of sales growth fueled the best start to the New York State housing market since 2007. According to NYSAR, the 23,932 closed sales in the first quarter represents a jump of nearly 17 percent from the 2015 first quarter. Additionally, the statewide median sales price grew by nearly 1 percent compared to a year ago.”

U.S. Commerce Department: Northeast housing starts jump more than 60 percent in March: The United States Department of Housing and HUD released its March report on April 19 with more good news.

  • Privately-owned housing starts in March rose 61.3 percent for the Northeast to 121,000, according to data released by the U.S. Commerce Department. February’s total was 75,000.
  • Nationally, housing starts were at a seasonally adjusted annual rate of 1,089,000, an 8.8 percent decrease from the revised February total of 1,194,000.
  • Building permits for the Northeast fell 17.9 percent in March, dropping to 101,000 from 123,000 in February. Nationally, building permits fell 7.7 percent to 1,086,000.

Looks like the market’s heating up: agents better brush up on their handling of multiple offers. The National Association of Realtors put out a field guide on multiple offers with clear information on how to prepare buyers and sellers for a scenario of multiple offers. It summarizes:“Buyers and sellers need to appreciate that in multiple offer situations only one offer will result in a sale, and the other buyers will often be disappointed their offers were not accepted. While little can be done to assuage that disappointment, fair and honest treatment throughout the offer and negotiation process, coupled with prompt, ongoing and open communication, can enhance the chances that all buyers – successful or not – will feel they were treated fairly and honestly.”

Joan Bischoff van Heemskerck, Lic. Associate Broker, Executive Sales Manager North Fork & Shelter Island for Town and Country Real Estate, 2016 President, Hamptons and North Fork Realtors Association (cell 631 948 0234; jbischoff@1townandcountry.com).

HANFRA Elects Town & Country Real Estate’s Joan Bischoff van Heemskerck As Organization President

Thursday, February 11th, 2016

Town & Country Real Estate’s North Fork offices manager Joan Bischoff van Heemskerck was recently elected President of HANFRA (Hamptons and North Fork Realtors Association), a branch of the National Association of Realtors and New York State Association of Realtors that was established on the East End in 1996.

“It is an honor to represent such an influential organization,” said van Heemskerck looking forward to his term as President of a group he views as the voice of real estate in our complex North Fork and Hamptons region.  “And, it’s also nice to be elected by your peers.”

Van Heemskerck see the changes in the industry, “The real estate market is rapidly changing due to technology with new real estate websites and social media.  I want to help realtors keep up with these changes and help make their listings available to consumers as well as help consumers find the listings they are looking for.”

“In such a competitive market,” said van Heemskerck, “it is nice to be unified and held a professional standard that keeps the integrity of the business as well as the community.” 

The latest May 2015 Stats on the Real Estate Market – Making sense of National, Regional and local data.

Saturday, June 27th, 2015

The US Real Estate Market – Nationally – good news!

“Fueled partly by an increase in the share of sales to first-time buyers, existing-home sales increased in May to their highest pace in nearly six years”, according to the National Association of Realtors®. “Led by the Northeast, all major regions experienced sales increases in May” said NAR Chief Economist Lawrence Yun.

This article in RIS Media explores the importance of Millennial buyers in this Real Estate Market.

Good news: May home sales rebounded strongly following April's decline and are now at their highest pace since November 2009 (5.44 million). "Solid sales gains were seen throughout the country in May as more homeowners listed their home for sale and therefore provided greater choices for buyers," he said. "However, overall supply still remains tight, homes are selling fast and price growth in many markets continues to teeter at or near double-digit appreciation. Without solid gains in new home construction, prices will likely stay elevated — even with higher mortgage rates above 4 percent."

On a national level, in other words, absence of newly built housing accounts for much of the low inventory, and Mr. Yun continued: “Total housing inventory2 at the end of May increased 3.2 percent to 2.29 million existing homes available for sale, and is 1.8 percent higher than a year ago (2.25 million). Unsold inventory is at a 5.1-month supply at the current sales pace, down from 5.2 months in April”.

NAR reported that The median existing-home price for all housing types in May was $228,700, which is 7.9 percent above May 2014. This marks the 39th consecutive month of year-over-year price gains.

The percent share of first-time buyers rose to 32 percent in May, up from 30 percent in April and matching the highest share since September 2012. A year ago, first-time buyers represented 27 percent of all buyers.

According to Freddie Mac, the average commitment rate for a 30-year, conventional, fixed-rate mortgage climbed in May to 3.84 percent from 3.67 percent in April but remained below 4.00 percent for the sixth straight month.

With demand continuing to far exceed supply, properties typically stayed on the market (DOM) for 40 days in May, up from April (39 days) but the third shortest time since NAR began tracking in May 2011. Short sales were on the market the longest at a median of 131 days in May, while foreclosures sold in 56 days and non-distressed homes took 38 days. Forty-five percent of homes sold in May were on the market for less than a month.

All-cash sales were 24 percent of transactions in May for the third straight month and are down considerably from a year ago (32 percent). Individual investors, who account for many cash sales, purchased 14 percent of homes in May, unchanged from last month and down from 16 percent in May 2014. Sixty-seven percent of investors paid cash in May.

Distressed sales — foreclosures and short sales — remained at 10 percent for the third consecutive month in May and are below the 11 percent share a year ago. Seven percent of May sales were foreclosures and 3 percent were short sales. Foreclosures sold for an average discount of 15 percent below market value in May (20 percent in April), while short sales were also discounted 16 percent (14 percent in April).

Regional Breakdown

May existing-home sales in the Northeast jumped 11.3 percent to an annual rate of 690,000, and are now 11.3 percent above a year ago. The median price in the Northeast was $269,000, which is 4.8 percent higher than May 2014. Again great news from NAR.

The New York State Association of Realtors® published the latest skinny market report video and more  data in a PDF on New York State and Suffolk County Real estate data.  Take away: the NY market is stable, doing especially well in the high end and luxury end of the market.

Million Dollar Listing (Bravo)  mentioned that even in Los Angeles the luxury market is driven by NY City buyers –whose success comes  mostly in  finance ( bankers hedge fund) and Entertainment . New York City in many upper end markets is booming! Of course – this is of a major consequence to the East End markets – and it is good news. If New York City does well – typically the East End does well.

But  All Real Estate is Really Local

While the National and regional good news translates into a much better Real Estate Market on the East End than after the 2007 recession, it is important to distinguish the Local Market date from the National data to get a useful idea of what and how the Real Estate Market is doing on the East End, in the Hamptons and on the North Fork & Shelter Island.

The Hamptons is traditionally very well known as the playground of the rich and famous, tied to Manhattan New York City and also internationally buyers and sellers.  The North Fork is increasingly grabbing attention as a popular Farm to Table life style and vineyard region, with increasing buyer demand. While each market behaves intrinsically different, the entire East End behaves more and more as one market with the characteristics of a Resort and Second Home market. Mostly a “want to buy” rather than a “I have to buy” market.

In such markets, different than National and other regional markets, distressed Real Estate (Short Sales and Foreclosures) plays a much smaller role, even more so East of Riverhead than West.

One of the most important characteristics of the East End market is its seasonality.  Harsh winters can slow certain months down, and create pent up spike demand later. Being able to use the new home in summer stresses the importance of closing before July, creating a spike just before in March-May, and then again as lots of people are out during the summer, with lots of closings 2-3 months later.

Exact listing data on the exact number of the Hamptons listings are harder to come by.TandC Stats Judi Desiderio's East End Market reports

A few companies report on market data. Judi Desiderio (Town and Country Real Estate CEO) so publishes a authoritative quarterly market report for the Hamptons, Shelter Island and North Fork providing clear data and analysis. 2014 year end reports for the Hamptons and North Fork show a robust recovery while first quarter reports for the Hamptons and North Fork reflect seasonality. Such reports show another important difference with national and other regional markets: a median sale of $950K+ in the Hamptons – creating very different market dynamics than lower priced markets. Such higher median prices typically cause listings to take longer to sell than national averages, as mentioned before.

So too on the North Fork:  a very different RE market. It is of crucial importance to know how to read national and regional Real Estate data into the local market conditions.

The North Fork today –contrary to what you typically read- has normal levels of inventory, not much lower than normal. The MLS (which is not as important in the Hamptons) shows around 450-475 listings on the North Fork (seasonally low in winter around 375, highest I saw in 2009 at 520). Agents perception of their own listings, however, with more competing  agents joining their ranks as the economy is improving, maybe misleading and allude to a really non-existing scarcity of available homes for sale and may lead to incorrect pricing of homes. While DOM (Days on Market) improved drastically to 90-120 days for the North Fork – this number is still much higher than national averages.

The East End RE market so behaves very differently from the National and even regional New York State and even Suffolk County markets in some important respects.

When looking at the North Fork markets specifically, it is interesting to watch how different price segments behave – and similar differences in the different price ranges can be observed in Judi Desiderio’s market reports.

Based on Contract signed in 2015 (data from MLSLI in selected North Fork hamlets and towns)– this is a first publication of my findings for this year – to date:

Competitivene Price Ranges North Fork 2015

This graph shows how vastly differently stats for homes in different price ranges behave.

This is what a Realtor ® Pro can do for any consumer buying or selling Real Estate in the East End: make sense of national and regional RE data – and apply them locally – and to a specific buyer’s or seller’s property. An agent properly chosen can help any buyer or seller with reasonable expectations based on facts, and provide an accurate picture of national, regional and local statistics on the Real Estate market. The right agent can analyze all these data based on his or her knowledge, experience, hard work and become a valuable resource for anyone involved in the Real Estate market.

Depending on the different characteristic of a home, or a buyer or seller, the perfect choice for the Realtor ®  to be chosen may so vary. So call any of the agents at Town and Country ReaL Estate to make sense of national, regional and local RE statistics – and price your home right for the market, limit guessing about your expectations, but rather make educated decisions and create the elements for a successful transaction.

Joan Bischoff van Heemskerck,

NY State Lic.Associate RE Broker

Executive Sales Director Town And Country North Fork & Shelter Island

Mobile: 631 948 0234   jbischoff@townandcountryhamptons.com

TASTE NORTH FORK 2014

Tuesday, May 13th, 2014

If you are thinking about Real Estate on the North Fork: a great way to meet your neighbors:

TASTE NORTH FORK 2014 – let's start the season off right – Meet the Farmers, wine-makers, innkeepers, and chefs who make the North Fork tick! This Saturday in Greenport at the NFPC Tourist Information Center! www.tastenorthfork.org

TASTE NORTH FORK – VETERANS DAY WEEKEND

Sunday, November 3rd, 2013

This coming Weekend – Veterans Day Weekend – November 8 and 9- the North Fork is the place to be for anyone who loves local farm's produce, food and wine!

All local businesses, vineyards, restaurants and fisheries are putting their best foot forward in a first regional Harvest Festival, TASTE NORTH FORK!

We all know as locals that the East End and the North Fork are the pearl in the oyster of New York Tourism  and that fall is among the best times here: so this regional harvest festival is a wonderful time to come out.

Visit www.tastenorthfork.org for details on this wonderful weekend – and hop on the busses which are looping around the North Fork between Riverhead to Orient with activities at lots of vineyard stops and at the two major hubs on Love Lane in Mattituck and in Greenport with – among other fun – a chance to meet the local farmers and sample their best produce.

Or click here for a program of what's going on.

Don't forget to thank the volunteers of the NFPC, the Greenport BID, the North Fork & Mattituck Chambers of Commerce  and the Town of Southold's EDC for making this terrific festival possible! (And of course EETA, LIWC and Empire State Development Corp).

For more information email gene.gluck@northfork.org

Joan Bischoff van Heemskerck, NFPC President

Great news: The Suffolk theater reopening in Riverhead – March 1st 2013!

Thursday, February 28th, 2013

Suffolk Theater

What better sign of a revival of a down town business district than the reopening of the beautiful Suffolk Theater on Main Street in Riverhead! If you have not seen Main Street lately – you will be surprised and you should re-visit the East Main Street area and Riverfront! The new Hyatt and Atlantis Aquarium complex, a series of new and renovated restaurants including but not limited to the Athens Grill, the little gem of the Turkuaz Grill and the always popular Riverhead Project should have given an indication of the exciting news from our Western neighbor Riverhead!

After many years of decay in the Down Town Area – the Suffolk theater will again be the crown jewel of the down town area! On march first, the Main Street area will be closed down for a festive ribbon cutting ceremony. A grand opening Gala follows-you can join for $125.00 – and a series of golden oldies opening in the subsequent days. For more information: visit their website: The Suffolk Theater and be as impressed as I am! Go Riverhead!

Little Gull Island And Lighthouse: Gavel fell at Auction for $381,000

Friday, December 28th, 2012

Yet another sign of an improving Real Estate Market on the East End:

The gavel finally fell on a historic landmark known to any LI Sound Sailor. According to the GSA, (General Services Administration) the 1-acre rocky Little Gull Island (some 8 miles east of Orient Point) and its 450 Ft2, 1869 built Lighthouse sold for $381,000 on October 25th 2012.
According to Newsday, the new owner (who was in competition with the New London Maritime Society which owns New London Harbor Lighthouse) is Mr. Fred Plum, owner of Plumb products machine tool company in Woodbury, CT.

According to WIKIPEDIA The US Coast Guard has identified Little Gull Island Light as one of its Historic Light Stations in New York.[7] In 2009 Little Gull Island Light was put up for sale under the National Historic Lighthouse Preservation Act.[8]

 

But for all of you who missed this one and still cherish the dream of owning on of this country's historic maritime relics not all is lost: the Manana Island Signal Station is up for auction by the GSA and bidding stands at a mere $30,000 – and all you need is a $5,000 deposit to participate…

The following can be your's according to the GSA website:

On top of Manana Island, 10 miles off the coast of Maine, is the former Coast Guard Signal Station. This maritime setting is picturesque with panoramic views of the ocean, rolling fields and Smutty Nose Island. A short boat ride across the bay is Monhegan Island which is home to fisherman, artist & writers.

The buildings on this site are in need of restoration work to preserve their historic value to the Monhegan Historical District, This includes a two story, white, wooden, clapboarded, four bedroom former Keeper’s quarters(1855) on a brick foundation with a brick cistern in the basement and an attached deck. Also included is a brick Sound Signal/Engine House(1855) with a wooden tower and a shed-like attachment to the north of the tower
The lot is approximately 6400sf +/-.Just bring your sweater this time of year…
 
 
 
 
 
and as always – feel free to call any of your friends at Town and Country Real Estate for professional information on this or any other Real Estate matter!

 

Happy 2013.

NEWS12 EDITORIAL ON LUXURY REAL ESTATE ON LONG ISLAND

Thursday, September 20th, 2012

Check out this new video clip on two T&C agents listings! 

Congrats to Nicholas Planamento, Joan Bischoff & Linda Statam!!

http://www.newsday.com/blogs/business/real-li-1.812034/news-12-clip-see-3-big-long-island-properties-1.4016864

August 2012 – Record contracts signed on the North Fork!

Wednesday, September 19th, 2012

According to MLSLI – the month of August saw a record number of residential transactions going into contract of sale in 2012 – highest since I started tracking in April of 2006. 40 residential properties went into contract in the area I track. One more than August 2011, the prior record. Interestingly, average days on market (DOM) for these sold properties rose to 241 days. Median lowered a bit to $450K – still showing lower priced properties selling. MLS showed 431 residential properties listed – very low, normally around 500 this time of year with a high of 550-600 over the past few years.

The most important trend is that sales above $1 Million – 7 out of 40 contracts in August- the upper echelon showed drastic improvements – while the middle of the road between $500K and $ 1 Million showed some improvement at 11 transactions but still lacks a bit given higher inventory and fewer buyers in that range – and the lower end below $500K saw 22 contracts signed, less active then in prior months at low inventory.

Price Range On the Market Sold in August
Under $500K 135 22
Between $500K and $1 Million 203 11
  • $1 Million
98 7

There is no doubt in my mind that sold inventory is not easily replaced with new listings – sellers are waiting. Buyers are undoubtedly influenced by the news about the economy – even when purchasing second homes. The higher end buyers may have pulled the trigger convinced of getting a good deal at very low mortgage interest rates which may start inching up.

The North Fork market remains a brisk one – at the right price! Sellers should work with an agent who helps determine the best price for their home to prevent it from languishing on the market and helps with tips on how to best present your home in the best possible light. We see activity on any property that is priced right – so if you do not see activity – try reviewing your price and ask your real estate professional for an analysis of other homes on the market -your competition- and recent sales of comparable properties to make sure your pricing strategy is on target.

Notes: for The North Fork I used the MLS hamlets of Cutchogue, East Marion, Greenport, Jamesport, Laurel, Mattituck, Nassau Point, New Suffolk, Northville, Orient, Orient Point, Peconic, S. Jamesport, Southold data from MLSLI properties under contract

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