Archive for the 'Southold' Category

REAL ESTATE NEWS: East End Real Estate & AirBNB

Monday, February 26th, 2018

Judi Desiderio of Town & Country Real Estate speak at an AirBNB forum hosted by the Sag Harbor Express

The Sag Harbor Express hosted an informational luncheon forum on the topic of AirBNB and what impact short term rentals are having on our communities.  The lunch, held at the American Hotel, included the following panel members:

Bryan Boyhan of the Sag Harbor ExpressJay Schneiderman – Supervisor Southampton

Scott Russell – Supervisor Southold

Jeffrey Bragman – East Hampton Town Board

Adain Corish – Sag Harbor Village Trustee

Leigh Gallagher – author of “The Airbnb Story: How Three Ordinary Guys Disrupted an Industry, Made Billions . . . and Created Plenty of Controversy”

Judi A Desiderio – CEO Town & Country Real Estate

Brian Boyhan, Publisher, and Gavin Menu, Co-Publisher, of the Sag Harbor Express mediated the forum starting with one question for each panel member. Open questions followed.

The general concern was what impact AirBNBs are having on businesses and the “neighborhood” and quality of life for those who live here and/or live next to a home that is rented through AirBNB.  Another topic discussed was the success of the rental registry for both the towns of Southampton as well as East Hampton.

The forum was a platform for all voices to be heard and was well attended by business owners as well as home owners from Hampton Bays to Shelter Island.

This was the second forum sponsored by The Sag Harbor Express. The first one held was on the topic of affordable housing. The Sag Harbor Express plans on continuing with these very informative lunches in the future.

TOWN & COUNTRY NORTH FORK 3RD QUARTER 2015 HOME SALES REPORT

Tuesday, October 20th, 2015

TOWN & COUNTRY’S Judi A. Desiderio has been reporting on North Fork Home Sales statistics for over 20 years. This 3rd Quarter Home Sales Report epitomizes why Judi always states “The numbers don’t lie. Individual agents and companies can have record quarters, but individuals don’t make the market.” This is a true eye opener for the amount of RED throughout the report. This is a big surprise since the TOWN & COUNTRY offices are reporting 3rd Quarter sales growth in all markets. In fact, 2 markets more than doubled.

All 4 markets monitored by TOWN & COUNTRY saw dramatic decreases in the Number of Home Sales with Orient (which includes East Marion and Greenport) dropping the most – 47% from 34 sales to 18 year over year.

Southold (which includes New Suffolk and Peconic) realized a 51% plunge in Total Home Sales Volume from $29M to $14.3M.

Jamesport (which includes Aquebogue, Baiting Hollow and South Jamesport) and Orient (which includes East Marion and Greenport) experienced increases in their Median Home Sales Price. Orient by as much as 11%.

Looking at All North Fork Markets Combined and the RED straight across the boards is glaring! All three criteria and all 6 price ranges monitored by TOWN & COUNTRY posted declines by as much as 35.5% in Total Home Sales Volume year over year, with the high end suffering the worst.

Doing a year over year analysis may not give the full and comprehensive picture. To illustrate let’s look at the 3rd Quarter 2013 and we see comparable figures as 2015. Thus the conclusion that 2014 was a banner year would be most correct. 

Click HERE for full report & statistics.

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 NORTH FORK 1ST QUARTER 2015 HOME SALES REPORT

Monday, April 20th, 2015

It may have snowed 7 weekends in the first 3 months of 2015 but it certainly didn’t slow down the tempo of the North Fork Home Sales Market!

 

Three of the 4 markets monitored by TOWN & COUNTRY experienced increases in the Number of Homes Sales. In fact, 2 of the North Fork markets, Jamesport (which includes Aquebogue, Baiting Hollow and South Jamesport) and Mattituck (which includes Laurel and Cutchogue) both experienced significant increases of +45.5% and +43%, respectively.

 

Jamesport (which includes Aquebogue, Baiting Hollow and South Jamesport) had a blow away quarter statistically in all 3 criteria monitored by  TOWN & COUNTRY  with all prices ranges in the black. In fact, the Jamesport markets were the lead hamlets with +45.5%, +77%, and +17% for the Number of Homes Sales, Total Home Sales Volume and Median Home Sales Price respectively – all 3 record stats!

 

Surprisingly Orient (which includes East Marion and Greenport) took a back seat with a 33% drop in the Number of Homes Sales and 28% decline in the Total Home Sales Volume. The Median Home Sales Price remained relatively stable at $435,000 in 2015 from $427,500 in 2014 1st Quarter.

 

Looking at All North Fork Markets Combined and we see healthy gains of nearly 10% in the Number of Homes Sales Price as well as a 5.4% increase in Median Home Sales Price. There was a slight dip of 2.55% in the Total Home Sales Volume – which was most likely swayed by 2 less sales in the $2-$3.49M price category.

 

All told, I’m sticking with my prediction that the North Fork Markets are going to enjoy 2015 broadly!

 

To view the complete report visit 1TownandCountry.com/Reports.

 

Judi A. Desiderio, Chief Executive Officer

JD@1TownandCountry.com                    

631.324.8080 ext. 221

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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LAND PRESERVATION SAVED, BUT THE RATE OF LAND PURCHASED IS SLOW

Wednesday, May 2nd, 2012

Open space and farmland preservation on Long Island increased in the past two years, but not fast enough to meet conservationists goal set years ago from development before the Island is built out. Local governments protected more than 1,700 acres last year and 967 acres in 2010. The growth comes after preservation declines in 2008 and 2009 related to the recession and a lack of large tracts of available land, according to a report issued, last week by the Long Island Pine Barrens Society.

"The period of decline has stopped and changed direction, but the rate of land purchased is not sufficient to get us to the goal, by a long shot." society executive director Richard Amper said last week.

The Nature Conservancy of Long Island and 100 environmental, civic and business groups in 2006 set a goal to protect 25,000 acres of open space and 10,000 acres of farmland by 2020, the year they estimated every acre of Long Island would be designated for either development or preservation. With development slowed by the recession, the Pine Barrens Society estimates build out to occur in 2025.  Even with the delay, it's estimated local towns and counties will preserve a total of about 17,000 acres by 2025, Amper said.

Last year, Suffolk County and the towns of Brookhaven, Riverhead, Southampton, Southold, East Hampton and Shelter Island bought a total of 1,703 acres, up from 1,134 the year before.

Amper worries the number of acres preserved will not be sustained. "They are not expected to do that well in the next two years," he said.

NORTH FORK 1ST QUARTER 2012 HOME SALES REPORT

Sunday, April 22nd, 2012

TOWN & COUNTRY’S 1st Quarter Homes Sales Report for the North Fork clearly demonstrates forward motion and a new trend as the investment opportunities on the North Fork are attracting customers from as far away as France and as near as Manhattan. As a continued emerging market, the future for the North Fork is, far and away, going to outshine the past.

If you can down to All North Fork Markets Combined you will see 66 of the 70 Home Sales recorded, or over 94% are sales below $1M.

Looking at specific markets you will see Southold (including New Suffolk and Peconic) and Orient (which includes East Marion and Greenport) enjoyed significant increases in sales activity with the Number of Home Sales increasing 62% and 117% respectively.

The Total Homes Sales Volume for Orient (which includes East Marion and Greenport) exploded by over 136% from $2.488 to $5.9M!

Overall the North Fork 1st Quarter Home Sales Report is heavily weighted by robust activity. Although there is a slight dip in Median Home Sales Price from $415,500 1st Quarter 2011 to $391,750 for the 1st Quarter 2012, the remarkable 40% jump in the Number of Homes Sales and a 23% increase in total Home Sales Volume speaks for itself.

To view more specifics on your particular locations visit http://www.1townandcountry.com/html/marketReports.php

Judi A. Desiderio, CEO
jd@1TownandCountry.com

**All information is deemed reliable and correct.  Information is subject to errors, omissions and  withdrawal without prior notice.

North Fork 4th Quarter 2011 Home Sales Report

Tuesday, January 17th, 2012

 

TOWN & COUNTRY’S  4th Quarter Homes Sales Report for the North Fork demonstrates a strengthening in 3 of the 4 markets we monitor.

Southold (which includes New Suffolk and Peconic) was clearly the star performer, with black clear across the board.  In Southold (which includes New Suffolk and Peconic), the Total Sales Volume nearly doubled from $9.8M in 4th Quarter 2010 to $19.5M in 4th Quarter 2011.  Furthermore, the Number of Home Sales rose over 30% from 23 to 30 and the Median Home Sales Price up 33% from $365,000 to $485,800.  A further look at the six price categories monitored by Town & Country tells the tale with 5 sales over $1M during 4th Quarter 2011 and zero in the same quarter the year prior.

The Eastern tip of the North Fork or Orient Market (which includes East Marion and Greenport) had a strong 4th Quarter in 2011 with a 23.5% increase in the Number of Home Sales, from 17 in 2010 to 21 in 2011 and a 35% increase in Total Home Sales Volume from $8.3M to $11.2M year to year.  There was a slight decrease in the Median Home Sales Price though from $495 to $415, 4th Quarter 2010 and 4th Quarter 2011.  

The Western End of the North Fork did not perform as well as the East – Mattituck (which includes Laurel and Cutchogue) saw decreases in all three criteria monitored by Town & Country, but not by much.

Looking at all North Fork Markets Combined and you see what the late fall, early winter home sales activity was.  The Number of Homes Sales grew 8.54% and the Total Homes Sales Volume increased 23.8%.  The Median Home Sales Price was flat with a slight 4.6% drop from $440 to $420.

The one eye opener is the price category of $1-1.99M which shot up 350% from 2 sales in 2010 to 9 in 2011 4th Quarter.  The North Fork high end is picking up momentum.

 

To view more specifics on your particular locations visit www.1TownandCountry.com/reports.

 

Judi A. Desiderio, CEO

jd@1TownandCountry.com •  631-324-8080

*Source: The Long Island Real Estate Report

**All information is deemed reliable and correct.  Information is subject to errors, omissions and  withdrawal without prior notice.

Winterfest starting February 11th – Jazz on the Vine

Monday, January 16th, 2012

Windmill at McCall's vineyards in MattituckIt is not just the windmills that are creating energy on the North Fork this winter – the beautiful winter weather has continued the hustle and bustle we normally see in Fall with its Harvest festivals. Not just most Realtors ™ are experiencing well above normal activity: but – wait until the Winterfest starts February 11! Internationally acclaimed Jazz artists will perform over 6 weekends at vineyards on the North Fork in February and March – a unique event that over the years has allowed thousands to enjoy the best the North Fork has to offer Winterfest 2012 - Jazz on the VineFor more information on where to go to hear fantastic Jazz and enjoy a glass of wine  – visit the Winterfest Website here or for info on where to stay – visit the North Fork Promotion Council site Winter in the vineyards on the North Fork