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

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.   

Recently Sold home in Bridgheampton.

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 Economistrealtor.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 EconomistNational 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.

www.eatalyathome.com

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.

IF YOU WANT TO GET INVITED BACK FOR SUMMER 2020?

A few years ago, I gave some homeowners the ultimate guide (click here) to getting rid of those guests that just can’t take a hint.    You know the types, that turn a two day invitation into a living hell only to discuss extending their stay!   Well, today’s blog isn’t about how to get them to leave,  it’s about giving them parameters for being invited next summer!   Yep print this out and leave it on the dresser or send this blog link with a wink and a nod and say, “but you know I don’t mean YOU!”

So here you go, my attempt at preventing animosity, hurt feelings, bruised egos…

keebler elf
I don’t work in the Hamptons!

and most of all bloodshed.  This is the ultimate Hamptons chatter guide for  houseguests on HOW TO GET INVITED BACK!

1- Pick up your dishes!  The sink isn’t magic and those dishes you leave in the sink don’t get rinsed and put into the dishwasher by a group of unemployed Keebler elves.

This means your coffee cups, wine glasses, bagel dishes and jam crusted knives need YOU  to rinse them off and put them into the dishwasher!   If the said washer is dirty and the housekeeper has the day off, here’s a great way to earn brownie points… empty the thing!!!

2- Don’t use a new towel every ten minutes!    Most of us don’t have a full time staff or an unlimited supply of bath and beach towels.     One of the biggest complaints I hear from Hamptons homeowners is when guests go through the linen closet booty like tissue paper.

Try limiting your use to one beach/pool towel and one bath towel.   Unless you’re helping with the lawn or cleaning my septic tank, odds are you can hang your towels and reuse the next day!

3-Don’t drink (or eat) more than you bring –  If you bring one bottle of Boone’s Farm Blue Hawaiian wine feel free to drink it and offer your host a glass.  Do not take said Blue Hawaiian put it on a shelf and then proceed to drink all of my Sancerre.  That’s just not nice!    Buy a nice bottle of wine anytime you visit the Hamptons … it’s the right thing to do.  Also, if you plan on going on a bender, it’s a good idea to make it a case.

4- No fighting –  You might not think this needs to be mentioned but believe you me…. it’s worth bringing up.     If you want to be a good guest don’t fight with the hosts, don’t fight with the other guests and don’t fight with your companion.    This means avoid drinking too much, don’t talk about politics and religion and don’t be cranky.   Always remember, you got invited because your hosts enjoy your company…. be enjoyable!

5- If you’re in a bad mood or don’t feel like socializing don’t come!   Yes, most Hamptons homes have wi-fi.  Yes,  the guest rooms are comfortable.   Yes, most have central air.   But if that’s an excuse for staying in your room all day, why are you even there!!!!????     Stay in the city or check into a Holiday Inn express… you’ll feel smarter!

6 – Eat in the Kitchen – Do you do that at your own home?   Do not take Toasted Coconut Entenmann Donuts without a napkin into the bedroom or anywhere else around the house.    Also, eating your chicken salad sandwich with a side of guac and chips in the pool and hot tub is kind of a faux pas.

7- Wear clothes around the house –  I know.   I didn’t think this needed mentioning TOO but butts aren’t always good.   Especially if you’re sitting in someone’s living room.    But  then again if you look like a supermodel….

Now excuse me, as I wrap up this blog.  I’ll now get off my soapbox and put some of that soap in the washer and start cleaning more of your towels.

MUST READ: NEW RULES ON SUMMER RENTALS… BUT FIRST CIABATTA TRY THIS PLACE!

A view to a kill… of your diet!
A really cook kinda bakery! Carissa’s new location!

It’s here!! After much anticipation Carissa’s Bakery has expanded and opened a new cafe at the former home of Turtle Crossing in East Hampton! If you don’t know Carissa’s you should! The Village favorite that features some of the most awe inspiring cakes, pies and breads (sourdough pickled rye bread… OMG!) will now serve a full menu from breakfast to dinner at the new cafe. While I haven’t sat down to eat a full meal yet at the new location, the facility at 221 Pantigo place is impressive. I recently had one of their amazing gourmet sandwiches which has me eager to come back and try their soon to be expanded menu along with one of their carefully curated wines. The fact Carissa’s serves from mainly local providers and features one of the more innovative menus I’ve seen, has me thinking this new addition to East End dining will be packed. If you want more information about the new cafe or on Carissa’s original bakery you can click here.

Left Facing Red For Rent Real Estate Sign in Front of Beautiful House.

Meanwhile if you’ve ever rented your home in the Hamptons, here is a bit of news you can’t afford to ignore. Effective July 14th landlords are now limited to collect no more than one months rent in advance for any lease. This means a whole new way of doing business for agents in these neck of the woods. For example, a summer rental from Memorial Day to Labor day would usually require about 50% up front at the signing of the lease and the remainder due before taking possession. Now, a landlord can connect no more than one month’s rent in advance and that includes security deposit! Considering most landlords in the Hamptons handle these rentals themselves, it’s an added layer of headache for anyone who wants to take that summer trip and leave the mayhem of summer. In addition to all of this there are now caps on late fees, tenant screenings and time frames for evictions. If you want more information on this headache inducing new way of doing things, make sure to click here on attorney Andrew Lieb’s outline of the new regulations in this weeks Dan’s Papers.

SOULCYCLE GETS A NEW NEIGHBOR IN WATER MILL! YOU KNOW IT’S SUMMER WHEN….

In what’s probably one of the better business moves this summer, Sag Harbor staple Provisions will be adding another location at the former site of Citerella in Water Mill shopping center.

IMG_2026
Smoothies and Salads and Bears… oh my!

A smart move considering every Saturday and Sunday, the area swarms with Lululemonites loitering after the SoulCycle classes next door.  Which means getting a green juice or smoothie just got a lot easier!! Thank the lord…. or at least the owners of Provisions.    If you’ve never been to Sag Harbor location, it’s probably one of the best natural food markets anywhere and the organic cafe is always packed!!    According to highly placed sources (the guy at the cash register yesterday), the Water Mill location will be opening sometime in Mid-July.     While I’m sure it will swamped like their other location,  they may want to burn some sage to be safe.     It couldn’t hurt to clean some of the possible bad juju that sunk Citarella (in that location), Avanti market (which I loved), West Elm and Blockbuster video (damn you streaming video!)!    Anyway, you can check out their website by clicking here for more details.

Well, the calendar says it’s June and the summer season is defintiely upon us.    But like the traffic jams on 27 and the blooms of the rhodaden… Roudaden….. Rhodamorgenterns… errrr… RHODODENDRON (like you know how to spell it?) there are other signs that that it’s that time of year in the Hamptons!   Here are a few that I always look for…

Wolffer Vineyards becomes the Pumpkin Town of warm weather on Friday Nights!  Screaming kids, parents that ignore them, jazz music and cars lining up and down the highway…. all with Summer in a Bottle… it’s beach living at it’s finest!

People are constantly asking every store, restaurant, real estate office and bank for their wifi password!  Cell service sucks in the Hamptons…. we all know it.    It’s even suckier in the summer!  Period.    Listen I get it…. it’s isolating and frustrating.   But maybe this summer we can try checking our social media accounts when we get home people!?  Nahhhh. I hate talking to people in person too!

There’s a stranded German luxury car on the beach!    If you drive two days a week for 12 weeks a year, maybe getting a Range Rover or MercedAudibeach9es G-Class isn’t such a great Mercedeesbeachidea (also other people need parking spaces too!)   Try starting with something smaller and easier to handle and perhaps watertight like a VW bug.    Just because you have 4 wheel drive doesn’t mean your car is good for beach driving, especially as the high tide is coming!

Restaurant Managers get Amnesia!    If you’ve ever seen the movie “What’s Up Doc,” you’ll remember the scene where Madeline Kahn gets dragged out of a banquet by her heels when her fiance says “I’ve never seen this woman before in my life.”   Well that’s how more than a few of us feel this time of year when we head out to eat on weekend night.   Ummm, I’m the guy who comes in every Monday in October and April and I’m the only one in the place?!   Patrick?!  No!?   Grrrrrr. 

Anyway, enough complaining…. I’m loving the warm weather, the calls from my long lost relatives and paying double for everything!  It’s summer in the Hamptons everyone!!!  Party on!