Archive for the 'hamptons' Category

TOWN & COUNTRY Hamptons 2nd Quarter 2016 HOME SALES REPORT

Tuesday, July 19th, 2016

 

The numbers are in… raising eyebrows mind you! 

The second three months of 2016 proved challenging for many of the 12 individual markets monitored by TOWN & COUNTRY.  All three criteria in the analysis showed significant drops: The Number of Home Sales dropped in eight of the 12 hamlets and the Total Homes Sales Volume and Median Home Sales Price both realized declines in nine of the 12 locales.

Southampton Village and East Hampton Village, two prime crown jewels of Hamptons Real Estate, both suffered significant declines in all three criteria. In fact, East Hampton Village’s drop of 53% in Total Homes Sales Volume ($95M to $45M year to year) was the greatest of all markets, with Southampton Village not far behind dropping 48% from $86M to $45M.

Reviewing last year’s TOWN & COUNTRY’S 2nd Quarter Home Sales Report, you will notice 2015 experienced a similar set of declines when compared to 2014. Hopefully, this is not a trend!

Thankfully, the report was not all doom and gloom. Sag Harbor Area (which includes Noyack and North Haven) posted the highest gains in the Number of Home Sales at a 100% leap from 17 in 2015 to 34 in 2016. Further, the Total Homes Sales Volume rose from $23.5M to $58M.

Sag Harbor Village and Shelter Island both showed strong growth in the Number of Home Sales, Total Homes Sales Volume and Median Home Sales Price. Is there a shift in focus to the quaint boutique markets from the estate sections, or is it a function of price?

The darling hamlet of Amagansett experienced an unexpected pull back in activity with 35% fewer homes trading hands — this certainly is not due to a lack of interest, but rather a price sensitivity with Median Home Sales Prices nearing $2M inclusive of both north and south of the highway.

View All Hamptons Markets Combined and you will see plenty of red. In fact only one of the eight price ranges monitored by TOWN & COUNTRY saw gains — an anemic 5% increase in the Number of Home Sales, $500,000 – $999,000 the most popular price category.

“While the 2nd Quarter Home Sales Report proved what I have said about the $10M and up price categories being hit the hardest, I do anticipate the next three months will see a seasonal uptick on the high end. Though, it is the stock market trajectory that dictates Hamptons high end sales. Just another cycle.” states Judi A. Desiderio, President.

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

 

Truck Beach

Wednesday, June 22nd, 2016

I would like to weigh in on the issue of “truck beach”—a real hot potato… or should I say hot sand. I am stupefied by the town’s decision to fight this for 7 years and vow to continue the fight should the judge not rule in their favor. While I see both sides of this issue, I clearly see a resolution that will not cost the town a dime AND allow for only fishermen pulling in nets to continue as the town claims has happened for many years.

Nearly 30 years ago I sold both properties at the end of Mitchell Dunes Lane… the oceanfront properties. At that time there truly was only the occasional dawn or dusk fisherman casting his or her line in… frankly I never saw a fisherman hauling in his nets as the town describes.

One of those purchasers has become a lifelong dear friend of mine and my family… so I have spent many days at that beach. The current use of the shoreline is not even remotely close to what East Hampton Town describes as its allowable use and hasn’t been for many years. 

Did you know it is the ONLY ‘drive on’ beach that is not on public lands?  Did you also know that just to the east is NY State Parkland? That is THE ANSWER! If truck beach were relocated to this state land there is NO ISSUE! Private property owner rights are then not in question. The town claims this is a title issue. The lawsuit that has cost tax payers TENS OF THOUSANDS OF DOLLARS will cease instantly. Local residents who enjoy driving on the beach and parking there for the day will continue to enjoy the activity… Just a few feet to the East! A WIN WIN situation for EVERYONE! Property owners, tax payers, and beach driving enthusiasts!

Town residents who wish to drive on the beach will need to get a NY State pass to drive and park there and may even need a NYS fishing license , but remember that WAS the original allowable use as described by East Hampton Town. It has been asked – why not allow driving on every town beach  – this would dilute the impact on this beach. Or impose the same hours of use as on other town beaches.  Let’s also consider the impact on the environment… the precious dunes with its important vegetation, the piping plovers and other wildlife.

We can open Pandora’s Box and discuss the importance of comfort stations – which there currently are none. On the state land this could all be cured with cooperation. If a resolution is the true object, the answer is right in front of everyone’s eyes. I am befuddled at why this simple and comprehensive resolution has not simply been done.

The existing tact is a waste of time, energy and money… let’s get smart… PLEASE!  

TOWN & COUNTRY HAMPTONS 1ST QUARTER 2016 HOME SALES REPORT

Wednesday, April 20th, 2016

The best part about the numbers is they tell it like it is — no individuality, no over inflation, no emotions… strictly the FACTS.

The fact is, the Hamptons 1st Quarter Home Sales Report reflects, frankly, a mixed bag.

In general, the report on the first three months home sales activity shows 10 of the 12 of the individual markets monitored by TOWN & COUNTRY had fewer transfers. East Hampton Village saw a drop of 44% and Bridgehampton (which includes Water Mill and Sagaponack) saw a 39% drop in Number of Home Sales—  these are significant statistical changes.

Bridgehampton (which includes Water Mill and Sagaponack) had quite a pull back, with not only 39% less Home Sales, but 42% less Total Homes Sales Volume, and the final criteria we monitor, Median Home Sales Price, slightly lower by 3%. The $10-$19.99M price range was off by 67% in Bridgehampton (which includes Water Mill and Sagaponack).

On a positive note, Shelter Island spread its wings nicely with a whopping 70% jump in Number of Home Sales, 59% increase in Total Homes Sales Volume and nearly 10% rise in Median Home Sales Price. A shining quarter for the Island.

East Hampton Village statistics deserve close examination. Not only the slide of 44% fewer Number of Home Sales but RED in every price range … except the over $20M, where the 2 sales for the first 3 months were: 101 Lily Pond Lane at $63.8M and 93 Lily Pond Lane for $22M. SAB Capital owner Scott Bommers sold his 3 Lily Pond Lane holdings for a total of $110M — an off-market deal.

Looking at All Hamptons Markets Combined and you see that from a broadstroke the East End Real Estate market held strong, while the stock market was in a bit of a free fall followed by a bounce. The Median Home Sales Price increased a respectable 3.65% to $995,000 while the Numer of Home Sales declined by 10%. 

Thank goodness it’s Spring!

To view the full report visit TownAndCountryHamptons.com/Reports.

 

Hamptons Summer Rental Showcase

Monday, April 11th, 2016

Nancy McGann, Judi Desiderio, Janet Hummel at Stribling Associates Chelsea

Town & Country Real Estate, together with Stribling & Associates, hosted the first 2016 Hampton’s Summer Rental Showcase recently in Chelsea.  T&C had associates from each of our eight East End offices on hand to assist savvy city dwellers looking for some rest and relaxation out east this summer.  In the mix were CEO Judi Desiderio; Managing Partners Janet Hummel and Nancy McGann; Executive Sales Managers Gene Stilwell, Joan Bischoff van Heemskerck, and Patrick Galway; Director of Acquisitions & Agent Coaching Gina Decker; associate brokers Linda Batiancela, Robert Tomich, Nicholas Planamento, and Lori Feilen; and agents William Stoecker and Rick Slater.  

T&C showcased a selection of our most exclusive and luxurious summer rentals in the Hamptons and across the North Fork and Shelter Island.  Stribling's associates, led by company president Elizabeth Ann Stribling-Kivlan, joined in on the event which has been touted by all as a grand success!  

Think Summer!

Elizabeth Stribling and Judi Desiderio   Town & Country Real Estate Summer Rentals   Town & Country Real Estate Agent William Stoecker

Linda Batiancela and Judi Desiderio of Town & Country Real Estate      Joan Bischoff and Nicholas Planamento of Town & Country Real Estate

Judi Desiderio of Town & Country Real Estate showcases Hamptons summer rentals   Town & Country Real Estate swag

2016 Summer Rental Season

Friday, January 8th, 2016

This year the Hamptons Hot Summer Season should sizzle! We expect more homeowners than ever before, most will enjoy their new acquisition others will choose to rent. Those who choose to rent need to check with their respective municipality for laws, permits, registry instructions and other details. Most of the East End communities have specific laws pertaining to rentals. There have been laws such as ‘group laws’ in place for many years, Such as “no more than 4 unrelated persons allowed in a SFR in East Hampton—5 in Southampton”. And of course, any SFR (single family residence) mandates just that, one family not multiple families in the home.

East Hampton Town has launched a HOT POTATO this year with the adoption of a Rental Registry Law. After considerable debate – mostly objections—the law was passed. Clearly, all residents wish to maintain the quality of life that we hold so dear.

Furthermore, existing laws such as the group laws seemed to address many of the concerns. The catalyst seemed to be the sudden and instant influx of short term rentals… or simply excessive use of residences.

Homeowners, for the most part, are not using their homes like hotels but admittedly, there is evidence of abuse.  Many resort towns are experiencing similar tenant activity. Some have attributed this to online rental sites, some the economy.

In the Hamptons, the lack of hotels and short term rentals contribute to the problem. Just as UBER has forever changed rides around the world, so has VRBO & HomeAway changed how tenants experience vacation rentals. The problem, for lack of a better term, is larger than us.

Worthy of a full discussion… Weigh in your thoughts.

Town & Country’s Annual Holiday Ball

Monday, December 21st, 2015

Town & Country Associates celebrated 2015 at The Southampton Social Club Friday evening. Ian and his staff did an outstanding job. It was a fabulous party with scrumptious hors d'oeuvres, cocktails and dinner.

The mood was festive as we celebrated a great year for T&C since we shattered many of our own records! What a festive way to enjoy each other and the holiday season.

Wishing everyone a happy, healthy & prosperous 2016!

Photo Credit: Charlie Grubb

LET US COUNT OUR BLESSINGS AND REMEMBER THOSE LESS FORTUNATE

Thursday, December 10th, 2015

As the holiday season is now here, it is important to express our gratitude to those who are special in our lives … our family, friends, work colleagues and others – and not just those who we think about often, but those who have played an important role in our lives in the past. Reach out with a friendly Hello and inquire how things are going. Let people know that you are thinking of them, recalling fond memories and expressing best wishes to them and their families. Here at Town & Country Real Estate, we believe in the power of giving back to our roots, whether it be by making charitable donations or by volunteering for local community organizations offering our time, insight, and talent. Quality of life here on the East End is vital, not only for our business, but to each of us personally, so we go to great lengths to do our part in paying it forward in this special place that we call home.

Let us count our blessings and remember to think of those less fortunate. Over this holiday season, if you can – participate in fundraisers for local charities, contribute to food pantries, donate winter coats, toys, books, clothing and other items to those entities organizing drives and hosting collection points for the needy. Helping others who may be struggling, no matter how large or small your contribution may be, is a wonderful way to give back to your community and makes the holiday season all that more merrier. Remember our veterans and those currently serving in the armed forces for the sacrifices they have made and continue to make for the freedoms we enjoy in this great country.

Merry Christmas, Happy Hanukkah and Best Wishes for the New Year!

Gracious Thanksgiving: Top 4 Hamptons & North Fork Kitchens

Wednesday, November 25th, 2015

Southampton Kitchen

Thanksgiving is truly a special day that kicks off the holiday entertaining season. It is a time to celebrate family and friends while focusing on being thankful and generous to others. Nothing says Thanksgiving more than friends and family gathered around a decadent table laden with roasted turkey, savory stuffing, cranberry sauce, and of course, pumpkin pie. Those familiar with hosting a holiday dinner know that there is a great deal preparation to prepare for a lavish meal. A key ingredient for successful holiday entertaining is a well-planned kitchen.  Just like in real estate, location is everything be it a house on the water or the Viking range and Sub Zero refrigerator.  These are some of our favorite spots to whip up something delicious and toast the season here in the Hamptons and across the North Fork of Long Island.

East Hampton KitchenIn Southampton this stately home has that understated elegance you’d expect in the Hamptons.  Located close to both the town and beach, this home is ideal for stylish entertaining. The gracious open kitchen is adorned with the world's finest appliances from Sub-Zero and Miele.  The adjoining breakfast room is surrounded by floor-to-ceiling sliding French doors that let in the light just perfectly.  For details contact Robert Tomich, Town & Country Real Estate, Southampton Office, 631-283-5800, IN#36553.

The natural light and white cabinets are chic and sophisticated in this East Hampton kitchen. State of the art stainless steel appliances and a double refrigerator that can hold everything you need for a large holiday dinner are why it is a stand out. The center island is a perfect spot for entertaining while cooking up a scrumptious meal. A key ingredient in any great kitchen is having enough work space and ample storage, this kitchen has it all and more.  For details contact Pamela Walsh, Town & Country Real Estate, Bridgehampton, 631-537-3200, IN#16713.

Quiogue KitchenThis quaint eat-in-kitchen in Quiogue uses its space wisely. A bookcase located on the end of the counter top is perfect for quick access to those favorite holiday recipes and cookbooks. Plenty of cabinets below the counter hide pots and pans while glass cabinets showcase favorite items and create an open feel.  This room flows gracefully in a circular shape with two sinks and extended stovetop, the possibilities are endless. The crown molding and cabinetry in this French Country kitchen lend elegant detailing.   For details contact Christine M. Byrne, Town & Country Real Estate, Westhampton, 631-288-3030, IN#35922.

Who doesn’t love a new kitchen? 

East Hampton Kitchen We found a perfect spot to prep and entertain in this new construction in East Hampton.  The eat-in gourmet kitchen with top-of-the-line Wolf range has a large center island ideal for hosting a holiday.  Bring up a few bottles from the wine cellar and transform the island into a chic bar for cocktails.  Two fireplaces and 5 bedrooms, as well as a finished lower level, mean there is room for quite the gathering.  For details contact Tracy Annacone, Town & Country Real Estate, East Hampton Office, 631-324-8080, IN#50443

When the cook is happy that same love and gratitude is reflected in the food and the mood and that truly what Thanksgiving is about. We appreciate these gorgeous kitchens that are overflowing with charm and chic style.  From everyone at Town & Country Real Estate we wish you and yours a very Happy Thanksgiving.

East Hampton Open House & Anne Raymond Art Opening

Thursday, November 19th, 2015

East Hampton, Rolling Woods Lane, Swimming Pool and Exterior

Art, wine, and real estate are three pillars of the Hamptons culture.  Join us this Saturday, November 21st from 2:00 p.m. to 5:00 p.m., as Town & Country Real Estate presents a very special, exclusive open house in the North West Harbor area of East Hampton at the home and studio of artist Anne Raymond.

East Hampton, Rolling Woods Lane, Formal Living RoomThe unique event will showcase the works of Raymond, whose work resides the in the permanent collections of the Museum of Fine Arts in Boston to the Blanton Museum of Art in Austin, Texas to name but a few.  Best known for her vibrant oil works that reflect the exquisiteness of the world as she sees it this very private showing will leave plenty of room for interpretation.  Viewed in the artists’ home this is a rare opportunity to get close to the art and the artist.

“I have great studios in SoHo, Tribeca, and Chelsea and none have influenced me as an artist more powerfully than my East Hampton Studio,” says Raymond.  During this special open house not only will guests be treated to the paintings and ambiance of this influential home but those on the tour can truly gain some insight as to what inspired her during the artistic process. Much like Raymond’s oil paintings, this home is a sight to behold. With its illuminating natural light and unique structuring throughout; this home is a work of art on its own. Treat yourself and be inspired by this sensational experience.    

East Hampton, Rolling Woods Lane, Artist StudioThis open house and studio tour is hosted by Town & Country Real Estate agent Stacey Barnds, of our East Hampton office, who describes the property as a “modern masterpiece that will appeal to the inner artist and architect in you.”  The two-story 4,400 sq. ft. residence situated on 1.9 acres is located in a lovely cul-de-sac between East Hampton and Sag Harbor. The modernized eat-in kitchen has top-of-the-line appliances, beautiful hand-crafted cabinets and was featured in two national design magazines.

• Open House and Studio Tour, November 21, 2015, from 2:00 p.m. to 5:00 p.m., 9 Rolling Wood Lane, East Hampton.  Contact Stacey Barnds for more information sbarnds@townandcountryhamptons.com 631.324.8080 ext. 224.  For more information about this property click here: www.TownAndCountryHamptons.com.

2015 HOME SALES POISED TO REACH 2007 LEVELS

Wednesday, November 4th, 2015

The National Association of Realtors September report confirmed what Realtors across the United States have been experiencing. Existing home sales climbed to a seasonally adjusted rate of 5.55 million or 4.7% — a huge gain of nearly 8% over 2014!

This spike made up for some of August’s soft spots. We suspect the stock market’s wild ride in August set the stage for the August weakness. However, the September spike was a welcome sign that the home sales in 2015 nationally are on target to hit levels not seen since the crash. The American Dream is alive & well! Yet there are a few rain clouds in the sky…

First time buyers seem to have lost some strength with logging 29% of all sales vs the 32% in August. We will be watching this to see if it is a trend or an anomaly. First time home buyers are significant players as they ear mark future demand.

Let’s seek to the Home Affordability Index at year’s end for more insight.