DAN’S PAPERS
Page 120 June 14, 2013
danshamptons.com
EVERYTHING OVER A MILLION
UNDER A MILLION
Beautiful homes sold this week.
Bargains on the East End.
Summer in Real Estate: It’s Hot! By RoBeRt sfoRza
A
ll real estate predictions indicate that the East End will once again be a sizzling summer playground. It’s back to business, as the bulkheads and pilings inside the elusive strata of housing stock strengthen, property values climb and summer rentals seem to be in short supply. On the North and South Forks of Long Island the collection of postcard-esque shoreline towns were comparatively spared from last autumn’s harsh
super storm, and they have resurfaced from the housing market crash six years ago. “The Hamptons is recognized worldwide for its beaches, horse shows, fashion, art festivals and its quaint villages,” says Judi Desiderio, the founder of Town and Country Real Estate. “For Hampton clients it’s all about lifestyle,” says Beau Thomas Hulse, owner of Beau Hulse Realty Group in Southampton. “Buyers are pulling the trigger on properties they want.” Still, there are a few deals waiting to be had for prospective buyers. But the pickings are swiftly
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becoming thinner by the day. “The Hamptons market right now is just extraordinary,” says Enzo Morabito, associate broker with Douglas Elliman Real Estate, who serves both sides of the canal. “There is especially a lot of people going to and renting in Westhampton Beach. You can’t beat Westhampton Beach for the money… it is a real great beach town.” “Westhampton Beach and its environment are hotter than ever,” informs Marcia Altman, Senior Director/Associate Broker Brown Harris Stevens of the Hamptons. “It’s a town from a picture postcard with a Main Street with cool shops and the Performing Arts Center and you can avoid those heavy traffic delays east of the canal.” “If this current trend is any indicator, 2013 will be a very strong year for the real estate market,” says Mala Sander, Corcoran Group Senior Vice President, Associate Broker. “High end, low end and everything is between, real estate professionals across the East End agree that the market is hot,” says Cathy Dransfield, a broker with Saunders & Associates. Rentals “We are extremely optimistic with the surge in 2013 rentals…there’s consumer confidence in both the rental and sales markets,” says Harald Grant, a senior vice president of Sotheby’s International Realty, citing an exquisite oceanfront house in Southampton that rented for $550,000 for the month of August alone. “The rentals have mainly been from Memorial Day to Labor Day with a few doing one month or two weeks,” informs Jan Nelson, licensed sales associate with Douglas Elliman. “We have had more single people in their 20s and 30s renting than in the past, couples are sharing house and bumping up in price to get higher end rentals.” “The high-end rental market is very strong and very little inventory,” says Susan Breitenbach, a top broker with Corcoran. “Outdoor living spaces are more important than ever. People are asking for outdoor dining, kitchens, fireplaces, pergolas and firepits.” Which towns are hot? “I feel Sag Harbor is still your best investment,” says John Christopher Senior Director/Associate Broker with Brown Harris Stevens. “I’ve said this before and I’ll say it again, that with the completion of the Watchcase Factory project, the real estate landscape is changed immensely.” “Folks are going farther east—to Amagansett, Montauk,” says Ernie Cervi, executive managing director of the Corcoran Group’s Bridgehampton office. “There’s new life to those areas, so it’s attracting another group of people.” “We’ve been getting a lot of calls for Amagansett this year,” says Jeff Steinhorst, vice president of Nest Seekers International. “We have three calls for Amagansett for every one for another area. People want to be close to the East Hampton beaches, dining, shopping, but have the access to the nightlife in Montauk.” “Any time you get near a village it’s hot. Southampton is hot. Sag Harbor is hot. Bridgehampton is hot,” says Morabito. “It’s in the village area where people can walk. It eliminates having to have a car.” For more real estate news, visit DansHamptons.com. For a full listing of local realtors, builders, designers, plumbers electricians, etc..., please pick up a copy of Dan’s List.