housing

FERRIS SAID BEACH PERMITS ARE GOING FAST!

Almost as coveted as a
Covid vaccine!

So East Hampton Village beach passes went on sale just a few days ago.   So, how is it going?   Um, it’s sick. My best friend’s sister’s boyfriend’s brother’s girlfriend heard from this guy who knows this kid who’s going with the girl who saw Ferris at 31 Flavors last night and he said they sold a crazy number of passes already. So,  I guess it’s pretty serious.     According to the friend of Ferris, 2500 beach passes were gone after only two days of sales.   In a normal year, that number would be closer to 200.   So if you’re looking forward to sunning in the sands of any of the village beaches, you better run to Village Town Hall (86 Main St., East Hampton) with your license, registration or check and get your permit.  You can also try going on line by clicking here:

https://easthampton.permits.basgov.com/

Meanwhile, the real estate market is expected to do very well in 2021, with mortgage rates that are hovering at historic lows and forecasted by experts to remain favorable throughout the year. One challenge to the housing industry especially here in the Hamptons, is the lack of homes available for sale today. Last week, the National Association of Realtors (NAR) released their Existing Home Sales Report, which shows that the inventory of homes for sale is currently at an all-time low. The report explains:

“Total housing inventory at the end of December totaled 1.07 million units, down 16.4% from November and down 23% from one year ago (1.39 million). Unsold inventory sits at an all-time low 1.9-month supply at the current sales pace, down from 2.3 months in November and down from the 3.0-month figure recorded in December 2019. NAR first began tracking the single-family home supply in 1982.”

What Does This Mean for You?

If You’re a Buyer:

Be patient during your home search. It may take time to find a home you love. Once you do, however, be ready to move forward quickly. Get pre-approved for a mortgage, be prepared to make a competitive offer from the start, and know that a shortage in inventory could mean you’ll enter a bidding war. Calculate just how far you’re willing to go to secure a home and lean on your real estate professional as an expert guide along the way. The good news is, more inventory is likely headed to the market soon, Lawrence Yun, Chief Economist at NAR, notes:

“To their credit, homebuilders and construction companies have increased efforts to build, with housing starts hitting an annual rate of near 1.7 million in December, with more focus on single-family homes…However, it will take vigorous new home construction in 2021 and in 2022 to adequately furnish the market to properly meet the demand.”

If You’re a Seller:

Realize that, in some ways, you’re in the driver’s seat. When there’s a shortage of an item at the same time there’s a strong demand for it, the seller is in a good position to negotiate the best possible terms. Whether it’s the price, moving date, possible repairs, or anything else, you’ll be able to request more from a potential purchaser at a time like this – especially if you have multiple interested buyers. Don’t be unreasonable, but understand you probably have the upper hand.

What’s the hardest reservation in the Hamptons??? Plus, since there is no good Mexican anywhere, make it yourself!

So what’s the hardest reservation in the Hamptons? Is it Nick & Toni’s? Is it the East Hampton Grill? Is it … oh this is getting annoying, I’ll just tell you. It’s Beach Paws in Wainscott! So, how is the food? Well it depends if you like Mighty Dog or Eukanueba but that’s the real reason to go there. The reason to bark about Beach Paws is it is the best dog grooming service in the Hamptons bar none! Lara Plimpton and her team do miracles for my kids Boo and Russell. In fact, my fidos are fond of getting the mannies, peddies and fluffing there, it’s more tail wagging than between the leg shakes. I don’t know how they do it but Lara makes if fun for them. But if you think you’re going to drop by for a quick rinse and blow dry guess again. It’s by appointment only (sometimes a week or so in advance) but like all things in life it’s well worth the wait. Beach Paws is located at 348 Montauk Hwy in Wainscott. 631-537-4590. When you go, make sure to tell Lara Boo sent you!

Now, I am not a food critic. But I do like food and my favorite is Mexican. So when I heard that they were opening up Agave in Bridgehampton, I was psyched. Now, I’ve yet to go there and try the food but I can’t get anyone to go with me. Apparently the buzz is so bad about this place, I don’t know anyone who will join me in the place Well, maybe in the Fall they’ll get their act together (fingers crossed). So in the meantime, I’m always in search of good south of the border stuff to go. Well, I can say with certainty, I’ve found what is probably the best salsa I’ve ever had!

It’s at Sean’s Place in Southampton. It’s made fresh and includes fresh tomatoes, cilantro and I think strawberries. So if your in Southampton. take the time go to Sean’s Place and let me know if you agree. But don’t worry if you don’t want to make the trip just for Salsa, owner and trained chef Sean King has more awesome stuff for those with an epicurean pallet.

Meanwhile, in spite of the latest shaking on Wall Street most of my friends in the biz tell me it’s full steam ahead. I have to agree. So if you’re holding off before buying hoping for a crash like back in ’08, forget it. Buyers are still out there and taking advantage of the lowest interest rates in history. Remember, there is only so much Hamptons land and real estate around!