summer – Hamptons Chatter

FERRIS SAID BEACH PERMITS ARE GOING FAST!

February 2, 2021February 2, 2021

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.

Love (& REAL ESTATE) in the Time of Corona.

January 19, 2021January 18, 2021

Like a fine wine or a new Nicholas Sparks novel, all good things take time. It’s been months since I’ve taken pen to paper to put down my thoughts in the gem that is known as Hamptons Chatter. Well, there is no time like now to get started and leave 2020 behind and look toward 2021! Will the Hamptons steroid infused market continue? What about the rental season? While I wouldn’t dare to say I have any sort of crystal ball I am comfortable in telling you what some top economists and real estate experts are predicting. Reminder these are about “National Trends.” The Hamptons is traditionally a unique market. But, right now due to Covid-19 epidemic a large number of NYC residents have now claimed the East End as their primary residence. That has now pushed us IMHO to a more traditional “primary home” market. As for rentals the inventory is limited, demand is high. So, look for another banner year for Hamptons rentals demanding higher than normal prices.

Four Expert Views on the 2021 Housing Market

The housing market was a shining star in 2020, fueling the economic turnaround throughout the country. As we look forward to 2021, can we expect real estate to continue showing such promise? Here’s what four experts have to say about the year ahead.

Lawrence Yun, Chief Economist, National Association of Realtors (NAR)

“In 2021, I think rates will be similar or modestly higher, maybe 3%…So, mortgage rates will continue to be historically favorable.”

Danielle Hale, Chief Economist, realtor.com

“We expect sales to grow 7 percent and prices to rise another 5.7 percent on top of 2020’s already high levels.”

Robert Dietz, Senior Vice President and Chief Economist, National Association of Home Builders (NAHB)

“With home builder confidence near record highs, we expect continued gains for single-family construction, albeit at a lower growth rate than in 2019. Some slowing of new home sales growth will occur due to the fact that a growing share of sales has come from homes that have not started construction. Nonetheless, buyer traffic will remain strong given favorable demographics, a shifting geography of housing demand to lower-density markets and historically low interest rates.”

Mark Fleming, Chief Economist, First American

“Mortgage rates are expected to remain low for the foreseeable future and millennials will continue forming households, keeping demand robust, even if income growth moderates. Despite the best intentions of home builders to provide more housing supply, the big short in housing supply will continue into 2021 and likely keep house price appreciation flying high.”

Bottom Line: Whether you’re ready to buy, sell or rent a home in 2021, if you’re planning to take advantage of the market this winter, let’s connect to talk about the opportunities available in our local market.

Some good news if you’re a city dweller missing your fix of salumi , mozzarella or panna cotta from NYC. In particular, if you miss the goodies at Eataly. The italian emporium is now doing weekly runs to here in the Hamptons. Just go online to www.eatalyathome.com by Tuesday 12 noon and create a shipment or pick one of their curated boxes and place your order. Then on Friday afternoon go to the designated drop off point in your area and pick up your belissima bundle.

HOW TO BEAT THE TRAFFIC WHEN YOU’RE HUNRGY or HANGRY!!

August 2, 2019

Is it just me or does it seem like every car on the road right now is a Volvo with Vermont plates? Not only that but they’re stopping cold in the middle of the road to make a right turn!!!? SHOOT ME! While I’m not a total misanthrope (PSAT study class word) , the idea of venturing into the wild wild world of the Hamptons in August is sometimes too much for me. So what to do?! Well finally there’s something new to say about the lame situation of food delivery out here! UBER EATS has finally arrived… while the selection is a bit limited there are a few not too expensive standouts; The Seafood Shop and

The Highway Diner in Wainscott and Buoy One Seafood in East Hampton. All will bring fully cooked dinners right to your right door. But if breakfast is your thing there’s also more to the skinny on getting chubby without leaving home.

Grindstone Donuts in Sag Harbor is also delivering!!! In case you’ve never been to Sag Harbor on a weekend morning and saw the line out the door, you know I have you’re attention on this! I mean we’re talking “DONUTS.” But if you think I’m talking “Dunkin,” you couldn’t be more wrong. I’m talking a brioche style donut with flavors like smores, lemon poppy and classic glaze! Recently I had the chance to stop by and talk to owner Kyle Shanahan about what brought him to town and why his a hole cut above the rest!

Finally, in addition to Uber Eats there are Chinese restaurants that I think are worth their weight in MSG. Number 1 (631-726-8080) in Water Mill and Phoenix in Wainscott (631-537-0011). There are a few others in the area but one of them actually has Immodium on the menu which to me is a big red flag…OK I’m kidding. While my two recommendations aren’t exactly Shun Lee or Mr. Chow’s, they’re both good, hearty and reasonably priced. Both are the best Chinese delivery in the HAMPTONS! Although, that’s kind of like saying it’s the friendliest restaurant in France.

ANSWERING SAG’S KNEAD FOR DOUGH… AND IT’S THE ____ OF THE HAMPTONS.

August 3, 2018August 3, 2018

I hope it doesn’t sound too too cheesy, but I’ve been working on some snappy lines about the newest restaurant to open its doors in Sag Harbor. Yes, I know I need to work on my delivery. Anyway, for now I’ll just give you a piece of my mind about Sag Pizza.

Located in the site of the former Conca D’oro (they even kept the sign), the newly renovated and sleekly designed restaurant opened it’s doors to a hungry horde earlier today. Perhaps it’s because it’s from the same folks that brought us LT Burger that had them lining up outside an hour before a single pie was tossed. So, how is it? I thought it was pretty darn good, especially since they were only opened for about an hour. While I heard some grumbling about having to wait in line to get a slice, it’s the first day folks! I’m sure they know there’s mushroom for improvement and given the folks running the place, they’ll get there soon enough. Now, to the really important part… the food itself. I had a slice of the margherita and one of the pepperoni. Both were made with fresh mozzarella and sauce on a thin crust that was nicely complimented by a slight smoky

flavor from the wood burning oven. Overall, a solid slice and a welcome addition to Sag Harbor. If you want more menu information, click on the restaurants website here. Let me know what YOU think.

You know how when you go to any town in the U.S. and the locals have a funny way of referring to their community, you know like in Bayonne you’ll meet someone and they’ll tell you how “people call us the Paris of New Jersey!” Hmmm, while I’m not sure I usually agree with these analogies I will tell you, I do have a few of my own about certain things in the Hamptons. In fact, I asked some of my friends if they had some quaint ways to refer to the sites and sounds of the Hamptons. Here are a few of my favorites:

Madison and Main Sag Harbor is the 42nd and Broadway of the Hamptons. With pedestrians that don’t look, drivers who don’t know how to drive and more cars than these two streets can handle, I can see it. Hit that intersection on a Saturday at 7pm in July and August and you’ll be looking for the dirty Elmo to come take his picture with your kids for $5.

Stop and Shop stores are the DMV of the Hamptons. Perhaps it’s the long lines. It could also be the parking lot that’s full with the mayhem and madness of novice drivers. Maybe it’s the cranky cashiers or maybe it’s the fact you really don’t want to buy the produce at either that this comparison makes sense. Either way, I’m not a fan of either and they apparently bought their dingy lighting from the same place.

Gucci pants, shoes, shirt and an Hermes belt are the Garanimals of the Hamptons. Remember those kids who used to eat the glue in 3rd grade? The ones who were lucky enough to have their mother tell them to always make sure they wear a giraffe pants with a giraffe shirt?! Well some of them grew up and now live in the Hamptons. Yes, t

hey’re here and still dressing with the same amount of thought as they did when they were in phonics class. It’s a thoughtless uniform but with a more expensive flair. By the way, I would wear these Garanimals too if I had the money to spare.

Tesla is the Honda of the Hamptons. If you live in a normal part of the world you go out to dinner, the movies or wherever and you park in a lot that’s probably Honda heavy. It’s a good car. It’s a sensible car. It’s also the vehicle, 90 percent of your friends drive in the rest of the world. Well this isn’t Cherry Hill here. It’s the Hamptons. Yes, sensible has a different look here on the East End. But hey, I do like these cars. I’m not knocking them. BUT, if only there was a supercharging station closer than Southampton.

Amagansett is the Tribeca of the Hamptons. It’s young, it’s hip, it’s loaded with celebs, it’s trendy and the coffee shops are so hip they hurt! I hope I don’t need to explain this further. If you don’t believe me, stop by Jack’s coffee anytime from now to Labor day. Oh, and if you ever see a guy wearing gap khaki shorts and a polo shirt who stands out like a sore thumb in town…. that’s me.