EVERYTHING YOU WANTED TO KNOW ABOUT HAMPTONS RENTALS BUT WERE AFRAID TO ASK!

Yeah, it’s only two weeks till Memorial Day and things are already starting to heat up in anticipation of the warmer days ahead, especially in Amagansett. Two new dining spots are putting on their finishing touches in hopes of feeding the masses of “Tribeca by the Sea.”

But more on that in a minute. At this time every year, the talk I constantly hear is about summer rentals. It’s funny even sometimes the most seasoned tenants need a reminder of what to expect when moving their lives to the east end. Luckily for those folks and everybody else with questions about what it means to rent in the Hamptons, I’ve done a little introduction. So grab your popcorn and press the play button below. Trust me it’s more informative and entertaining than Sandra Bullock’s “The Lost City.”

As I said in the beginning of this post some good grub is coming soon to Amagansett. One of the more anticipated openings will be for the new “Astro Pizza” on Main Street. Chef PJ Calipa (IG: @chefpjcalipa) is lending his expertise to the menu to include some gourmet pies and premium ice creams. Calapa is the owner and chef behind NYC’s usually packed Scampi restaurant in Chelsea. If his unique Mediteranian seafood dishes are any indication of whats to come, get ready for some seriously interesting pies. By the way, I know interesting pizza. When I was in college I waited tables at the Pizzaria Uno in Georgetown DC. for a few years. But really it’s not as impressive as it sounds.

The old Hampton Chutney Company location is getting a refresh with Caribbean flair!

Meanwhile, across the street some cool Bahamian breezes are sweeping into Amagansett Square. The former site of Hampton Chutney is soon to become a Caribbean themed restaurant. I happened to be walking by and was told it will be called “Doubles.” I dont’ have much more to add but I was told to expect an opening sometime in June. If you get any more details, let me know.

THERE’S NO INVENTORY IN THE HAMPTONS!

Want Top Dollar for Your House? Now’s the Time To List It.

Want Top Dollar for Your House? Now’s the Time To List It. | MyKCM

When you’re selling any item, you usually want to sell it for the greatest profit possible. That happens when there’s a strong demand and a limited supply for that item. In the real estate market, that time is right now. If you’re thinking of selling your house this year, here are two reasons why now’s the time to list.

1. Demand Is Very Strong This Winter

recent article in Inman News explains:

“Spring, the hottest time of year for homebuyers and sellers, has started early, according to economists. . . . ‘Home shopping season appears to already be in full swing!’”

And they aren’t the only ones saying buyers are already out in full force. That claim is backed up with data released last week by ShowingTime. The ShowingTime Showing Index tracks the average number of monthly buyer showings on active residential properties, which is a highly reliable leading indicator of current and future trends for buyer demand. The latest index reveals this December was the most active December in five years (see graph below):

Want Top Dollar for Your House? Now’s the Time To List It. | MyKCM

As the data indicates, buyers are very active this winter. Last December saw even more showings than December of 2020, which was already a stronger-than-usual winter. And remember – you want to sell something when there’s a strong demand for that item. That time is now.

2. Housing Supply Is Extremely Low

Each month, realtor.com releases data on the number of active residential real estate listings (listings currently for sale). Their most recent report reveals the latest monthly number is the lowest we’ve seen in any January since 2017 (see graph below):

Want Top Dollar for Your House? Now’s the Time To List It. | MyKCM

And don’t forget, the best time to sell an item is when there’s a limited supply of it available. This graph clearly shows how extremely low housing supply is today.

Even Though Supply Is at a Historic Low, Home Sales Are at a 15-Year High

According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), existing-home sales totaled 6.12 million in 2021 – the highest annual level since 2006. This means the market is hot and homeowners are in a great place to sell now while sales are so strong.

NAR also reports available listings by calculating the current months’ supply of inventory. They explain:

“Months’ supply refers to the number of months it would take for the current inventory of homes on the market to sell given the current sales pace.”

The current 1.8-months’ supply is the lowest ever reported. Here are the December numbers over the last five years (see graph below):

Want Top Dollar for Your House? Now’s the Time To List It. | MyKCM

The ratio of buyers to sellers favors homeowners right now to a greater degree than at any other time in history. Buyer demand is high, and supply is low. That gives sellers like you an incredible opportunity.

Bottom Line

If you agree the best time to sell anything is when demand is high and supply is low, let’s connect to begin discussing the process of listing your house today.

BEACH BLANKET BINGO BUST! PLUS, ONE MAN’S JOYRIDE IS ANOTHER MAN’S INSURANCE CLAIM.

No beach pass for you!

Sad news Frankie and Annette won’t be able to take their shenanigans “BACK TO THE BEACH” on the groovy sands of Main Beach East Hampton. The mad rush to the Summer surf of ’22 has begun and if you don’t have an East Hampton Village Beach Pass, you’re S.O.L! Just one day after sales of the coveted permits (all 4100) went on sale at midnight February 1st, they’ve sold out! YEP! You heard me right. According to the website, there’s already a waiting list of about 400. But don’t totally despair, there are still town beach passes available and you can always buy daily passes at certain locations like Main Beach and Two Mile Hollow. SInce they went so quickly, one would hope the village would open up and make more available? But don’t hold your breath. If you want to see for yourself, village the village website now.

Sushi and Dosas on Newtown Lane.

Elsewhere some notable restaurant shuffles are happening around town. A few weeks ago the rumor was an established sushi joint was going into the other half of the old Mary’s Marveloous now Hampton Chutney Co. in East Hampton. Well I was half right, it’s going to be sushi but instead of who I thought was going in, the folks behind the old Zokkon and Suki Zuki will be the ones truncating tuna and whisking wasabi on Newtown Lane.

Also, while rumors have swirled about who was going into the old World Pie in Bridgehampton it’s become official Doppo La Spiaggia from Sag Harbor and East Hampton will be bringing their Bolognese and Fritto Misto to the Main Street location. From what I’ve heard, the new restaurant will be serving a more casual menu along with gourmet pizzas.

Finally, if you visit any of the local chat boards you’ve probably noticed the topic of conversation has moved from squatters to car thefts. But nobody is talking about that crappy Angelina Jolie/Nicholas Cage camp fest “Gone in 60 Seconds” even though the timing seems to be pretty accurate. Yep, you heard me right. Cars are being stolen around town from driveways in both East and Southampton towns. In most of the cases, the owners had left the keys in the cars in their driveways (some even on long secluded drives) and the thieves were in and out before the owners knew it. One poster said by the time they noticed the car missing, the GPS had already been disabled. So in closing make sure you are the key master and keep them out of the car!

A FUN CURE FOR THE SUMMERTIME BLUES… BINGO!!!

BORED? Maybe it’s time for you to play HAMPTONS BINGO! What better way to commiserate …..errr i mean CELEBRATE Summer ’21… with your friends at the next get together. Simply, print this card for hours and hours and hours of fun at your next dinner party! Sadly, I think I have all but 3 boxes filled.

BTW, I thought I was so orignal with this blog but alas they did it on Curbed.com about 10 years ago. So, this is the new and improved version of Hamptons Bingo. As Curbed editor at the time Laura Euler suggested, feel free to laminate this collectors piece of Hamptons life 2021.