Archive for the 'Judi Desiderio' Category

First Offering: Ammon Estate, East Hampton, NY

Thursday, June 8th, 2017

59 Middle Lane, Ammon estate

The 59 Middle Lane East Hampton home, owned by siblings Greg and Alexa Ammon, is up for sale for $12.7 million with Judi Desiderio of Town & Country Real Estate.

“Having been the broker for the Ammon family for nearly 15 years, we have rented the home to several families with children, all of whom have throughly enjoyed the beautiful home and outstanding sprawling grounds, for some two years running," said Desiderio. "A few tenants were interested in purchasing the property but the family wasn't ready to let it go."

"Alexa and I are now ready to sell our childhood home as we are both moving forward with exciting new ventures," said Greg Ammon. "We truly hope our family home finds the right buyer who can enjoy the many happy memories we had here and appreciate the true beauty that it has to offer."

Inspired by these memories, Greg founded Big Flower, a Hamptons lifestyle brand with a flagship in East Hampton and expansion plans in the fall. Alexa recently graduated from USC School of Cinematic Arts and is currently pursuing a career in film and photography.

The family's decision to sell presents a very rare opportunity to own the famed East Hampton estate. With Katie Couric around the corner and Jerry Seinfeld a stone's throw away, the new owners will be in fabulous company.

National Homes Sales Are Rocking!

Wednesday, May 17th, 2017

East Hampton | $17,750,000 | IN # 42068

The National Association of Realtors has released the first quarter home sales report for 2017 and the numbers are impressive.

Total existing-home sales rose 1.4% to a seasonally adjusted annual rate of 5.64 million.  This was the highest level since the first quarter of 2007, ten years ago!  Second only to 2005.

First time home buyers are back in the game. The national median home sale price climbed nearly 7% year over year. Reports show the driver, demographically, are millennials. These young adults are some of the oldest age groups to pull the trigger on the American Dream.  Failure to launch, The Great Recession, employment issues, and outrageous prices followed by the housing market crash all contributed. 

Although mortgage rates and prices are on the rise, there seems to be no pull back in sight. This is great news for the overall economy as everyone knows when homes sell, jobs are created. In fact, after the Great Recession, I predicted the housing market would pull the country out of the troth… and it did!

Furthermore, as is the case most times, the East End markets moved conversely to National trends. 

To view the Hampton Home Sales Reports visit www.TownAndCountry.com/Reports

US Home Prices Rose 5.9%

Thursday, March 30th, 2017

The S&P CoreLogic Case-Shiller Index reported a 5.9% rise in home sales prices nationwide for January, year over year. That increase is the greatest since mid-2014. The 10-city index rose 5.1% January 2016 to January 2017 while the 20-city index gained 5.7%.  There are several contributing factors. The scales of supply and demand, dictate the price of anything from art to homes.

At this time in history job growth among the large demographic of 30-something-year-olds contributes to the demand side.  Economists have logged an important concern on that front that wages, rising at 2.5%, and home sale prices, increasing 5.7%, will eventually cause a disconnect.

On the other side of the scales we have supply.  According to the National Association of Realtors inventory in December hit the lowest level since they began tracking this data in 1999.  The number of homes for sale in January 2017 was over 7% less than the number of homes for sale same month last year.

How do these national statistics compare with our niche markets? Frankly, they don’t.  It is not uncommon to see our markets move inversely to national trends.  Because our markets are so diverse and so specialized, they don’t always move in tandem.  Right now, there are segments of our markets that desperately need inventory and others that are, well, flooded.

These vast differences are precisely why Town & Country Real Estate has always broken down our Home Sales Reports into individual markets and different price ranges within those markets in the Hamptons and across the North Fork. 

To view our published market reports visit www.TownAndCountryHamptons.com/Reports weigh in on your market concepts.

Town & Country 4th Quarter 2016 Home Sales Report

Tuesday, January 17th, 2017

How the mighty have fallen! 

The last 3 months of 2016 were NOT good for the Hamptons real estate markets.

11 of the 12 individual markets monitored by TOWN & COUNTRY experienced declines in the Number of Home Sales with the hardest hit being starlets East Hampton Village with a 46% drop and Bridgehampton (which includes Water Mill and Sagaponack) with a whopping 56% free fall. In turn, these two markets also experienced the worst losses in Total Home Sales Volume with Bridgehampton (which includes Water Mill and Sagaponack) down -70% from $305 million trading hands in the 4th Quarter 2015 to a scant $92 million for the same 3 months a year later, and East Hampton Village sank like a stone by -81% from $120 million to just $22.7 million year to year, 4th quarter.

Enough of the bad news, while the Number of Home Sales and Total Home Sales Volume were both poor performers in the 4th quarter, 2016, the Median Home Sales Price rose in half the markets monitored by TOWN & COUNTRY. In fact, Montauk, which remains one of the hottest markets, experienced a 61% leap in Median Home Sales Price 2015 to 2016 4th quarter from $815,000 to $1.315 million respectively. Prices are obviously going up in Montauk — “simply put, the supply is never going to out weigh the demand since Montauk is surrounded on 3 sides by ocean.”

Looking at All Hamptons Markets Combined and you clearly see activity in Hamptons home sales was pretty much on hold toward the end of 2016, particularly $10 million and up, where there were 14 closings in the last 3 months of 2015 vs. only 5 in 2016. The good news is all 8 TOWN & COUNTRY offices are reporting heightened activity since the election and I predict 2017 will be a much better year than 2016.

To view all reports visit TownAndCountryHamptons.com/Reports.

Town & Country Hamptons Year End 2016 Home Sales Report

Tuesday, January 17th, 2017

The 2016 Hamptons Home Sales Market closed out with a thud. In fact, the full report is covered with lots of RED!

Only 3 of the 12 markets monitored by TOWN & COUNTRY experienced an increase in the Number of Home Sales. Shelter Island had the greatest statistical change of +16%, from 73 to 85, year over year. Westhampton (which includes Remsenburg, Westhampton Beach, East Quogue, Quogue and Quiogue) still logged in the most Number of Home Sales with 318 — a slight difference from 2015’s count of 324.

Bridgehampton (which includes Water Mill and Sagaponack) had the greatest pullback with -27%, totaling for the year only 172 sales, a far cry from 237 in 2015. The Sag Harbor Area (which includes Noyack and North Haven) Total Home Sales Volume shot up 45% from $186 million to $271million year to year. But Bridgehampton (which includes Water Mill and Sagaponack) remained #1 for Total Home Sales Volume with $701million trading hands in 2016, though quite a dip (-32%) from 2015’s impressive $1Billion dollar volume.

Half of the markets monitored by TOWN & COUNTRY realized increases in the Median Home Sales price by as much as 25% in Sag Harbor Village from $1.2 million to $1.5 million, 2015 to 2016. East Hampton Village, on the other hand, sank 37% from $3.8 million in 2015 to $2.4 million in 2016. Looking at All Hamptons Markets Combined and the RED is glaring — losses nearly across the boards. In fact the $10-19.99 million price range dropped 32% year over year.

The good news is 2017 is poised to be a much better year than 2016. All indicators point to increased activity. All 8 TOWN & COUNTRY offices are reporting more inquiries and greater traffic flow at Open Houses.

To view all reports visit TownAndCountryHamptons.com/Reports.

Town & Country Real Estate Holiday Party

Thursday, December 15th, 2016

Rick Slater, Kim Slater, Judi Desiderio, Geraldine Vitale, John Tracy, and Joan Bischoff

Celebrating the season!  Town & Country Real Estate marked a great year in Hamptons and North Fork real estate and toasted the holiday season at Southampton Social Club this week.  From cocktails to awards given to noted agents and thru dessert it was agreed that we have so much to be grateful for and even more to celebrate.  

Cheers to a tremendous 2016 and wishing everyone a wonderful 2017!

All photos CB Grubb

MIXED SIGNALS

Thursday, August 11th, 2016

Second quarter 2016 statistics have been released and they are not sending clear signals by any means.

On one hand, The National Association of Realtors reported that home prices rose in 83% of the nation’s 178 major real estate markets. Yet, according to CoreLogic Case Shiller Indices overall prices are now just 2% off the peak set in July 2006.

Homeownership rates are the lowest since the Census Bureau began tracking quarterly statistics in 1965 – now at 62.9%. Economists estimate 200,000 to 300,000 fewer US households are purchasing new homes annually, than during normal market conditions. The true American Dream of home ownership is in flux.

Personal wealth has always been driven for most by their homes. Retirement, tuition, vacations, and much more usually financed via home equity. Is there an entire generation of permanent renters out there? I hope not, for their sake.

First time home buyers are a critical piece of the puzzle and the government must support this vital future growth. Mortgage qualifications are a big part of today’s issues. Keep in mind, home sales create jobs and employ ancillary services from painting to landscaping.  It was home sales and the economic boost it provided that pulled us out of the worst economic downturn since the Great Depression.

How can lawmakers support growth from the bottom up?

TOWN & COUNTRY NORTH FORK 2ND QUARTER 2016 HOME SALES REPORT

Friday, July 29th, 2016

TOWN & COUNTRY’S 2nd Quarter North Fork Home Sales Report demonstrates uneven growth, but growth none the less.

Southold (which includes New Suffolk and Peconic) had the greatest up-tick in the Number of Home Sales at 25% —from 28 in 2015 to 35 in 2016 (same three months), yet experienced drops in the Total Home Sales Volume and Median Home Sales Price of 14% and 6% respectively. 

Jamesport (which includes Aquebogue, Baiting Hollow and South Jamesport) logged an 18% increase in the Number of Home Sales and a 20% jump in Total Home Sales Volume.

Mattituck (which includes Laurel and Cutchogue) and Orient (which includes East Marion and Greenport) each had one less home sale during the 2nd Quarter, year over year.

Looking at All North Fork Markets Combined you will note that only declines in the five price categories monitored by TOWN & COUNTRY were the $500,000 – $999,000 category by 22.45% from 49 to 38 from 2015 to 2016 and the $5M and up, where there were no sales vs. last year. The Number of Home Sales rose 8% in this year to year comparison yet the Total Home Sales Volume and Median Home Sales both experienced pullbacks of 3% and 14% respectively.

“The North Fork has established definite traction. I anticipate the 2nd half of 2016 to continue to gain momentum as more and more people discover the richness of North Fork living,” states Judi A. Desiderio.

To view the full report visit North Fork 2nd Quarter 2016 Home Sales Report. For all Town & Country Real Estate Market Reports, click here.

TOWN & COUNTRY NORTH FORK MID YEAR 2016 HOME SALES REPORT

Wednesday, July 27th, 2016

In analyzing the data from the North Fork markets for the first six months of 2016, the positive trends jump right off the page. All four specific North Fork markets experienced increases in the Total Home Sales Volume.

Southold (which includes New Suffolk and Peconic) posted the greatest increase in the Number of Home Sales with a spike of 32% from 53 in the first six months of 2015 to 70 in 2016 same period. The Median Home Sales price was also up 10% and Total Home Sales Volume grew 17%.

Orient (which includes East Marion and Greenport) realized a whopping 43% increase in Total Home Sales Volume from $22.2M to $32M year to year. In fact, the Orient market was totally in the black this report.

Mattituck (which includes Laurel and Cutchogue) saw a slight uptick in homes sales activity as did Jamesport (which includes Aquebogue, Baiting Hollow and South Jamesport).

“The glaring trend is the heightened activity primarily on the eastern end of the beautiful North Fork in the first six months of 2016,” states Judi A. Desiderio.

Looking at All North Fork Markets Combined and you will note healthy growth in the Number of Home Sales (+12%), as well as the Total Home Sales Volume (+15%).

Prediction for the balance of 2016, is a continued ascend for our North Fork markets.

To view the full report visit North Fork Mid Year 2016 Sales Report. For all Town & Country Real Estate Market Reports, click here... 

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