{"id":5375,"date":"2021-01-18T21:42:17","date_gmt":"2021-01-18T21:42:17","guid":{"rendered":"http:\/\/hamptonschatter.net\/chatter\/?p=5375"},"modified":"2021-01-19T02:16:23","modified_gmt":"2021-01-19T02:16:23","slug":"love-real-estate-in-the-time-of-corona","status":"publish","type":"post","link":"https:\/\/hamptonschatter.net\/chatter\/love-real-estate-in-the-time-of-corona\/","title":{"rendered":"Love (& REAL ESTATE) in the Time of Corona."},"content":{"rendered":"\n

Like a fine wine or a new Nicholas Sparks novel, all good things take time.\u00a0 \u00a0\u00a0It\u2019s been months since I\u2019ve taken pen to paper to put down my thoughts in the gem that is known as Hamptons Chatter.\u00a0\u00a0\u00a0\u00a0 Well, there is no time like now to get started and leave 2020 behind and look toward 2021! \u00a0\u00a0\u00a0\u00a0Will the Hamptons steroid infused market continue?\u00a0\u00a0\u00a0 What about the rental season? \u00a0\u00a0\u00a0While I wouldn\u2019t 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.\u00a0 \u00a0\u00a0\u00a0Reminder these are about \u201cNational Trends.\u201d\u00a0\u00a0 The Hamptons is traditionally a unique market. \u00a0\u00a0\u00a0\u00a0But, right now due to Covid-19 epidemic a large number of NYC residents have now claimed the East End as their primary residence.\u00a0\u00a0 That has now pushed us IMHO to a more traditional \u201cprimary home\u201d market.\u00a0\u00a0\u00a0\u00a0\u00a0 As for rentals the inventory is limited, demand is high.\u00a0 \u00a0So, \u00a0look for another banner year for Hamptons rentals demanding higher than normal prices.\u00a0\u00a0\u00a0<\/p>\n\n\n\n

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Recently Sold home in Bridgheampton.<\/figcaption><\/figure>\n\n\n\n

Four Expert Views on the 2021 Housing Market<\/h3>\n\n\n\n

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\u2019s what four experts have to say about the year ahead.<\/p>\n\n\n\n

Lawrence Yun, <\/strong>Chief Economist<\/strong><\/em>,<\/strong> National Association of Realtors<\/strong><\/em> (NAR)<\/strong><\/a><\/h4>\n\n\n\n

\u201cIn 2021, I think rates will be similar or modestly higher, maybe 3%…So, <\/em>mortgage rates will continue to be historically favorable<\/em><\/strong>.\u201d<\/em><\/p>\n\n\n\n

Danielle Hale, <\/strong>Chief Economist<\/strong><\/em>, <\/strong>realtor.com<\/strong><\/em><\/a><\/h4>\n\n\n\n

\u201cWe expect <\/em>sales to grow 7 percent<\/em><\/strong> and <\/em>prices to<\/em><\/strong> <\/em>rise another 5.7 percent on top of 2020\u2019s already high levels<\/em><\/strong>.\u201d<\/em><\/p>\n\n\n\n

Robert Dietz, <\/strong>Senior Vice President and Chief Economist<\/strong><\/em>, <\/strong>National Association of Home Builders<\/strong><\/em> (NAHB)<\/strong><\/a><\/h4>\n\n\n\n

\u201cWith home builder confidence near record highs, <\/em>we expect continued gains for single-family construction<\/em><\/strong>, 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, <\/em>buyer traffic will remain strong<\/em><\/strong> given favorable demographics, a <\/em>shifting geography of housing demand to lower-density markets<\/em><\/strong> and historically low interest rates.\u201d<\/em><\/p>\n\n\n\n

Mark Fleming, Chief Economist, First American<\/em><\/a><\/strong><\/strong><\/h4>\n\n\n\n

\u201cMortgage rates are expected to remain low for the foreseeable future and <\/em>millennials will continue forming households, keeping demand robust<\/em><\/strong>, even if income growth moderates. Despite the best intentions of home builders to provide more housing supply, <\/em>the big short in housing supply will continue into 2021<\/em><\/strong> and likely keep house price appreciation flying high.\u201d<\/em><\/p>\n\n\n\n

Bottom Line: Whether you\u2019re ready to buy, sell or rent a home in 2021, if you\u2019re planning to take advantage of the market this winter, let\u2019s connect to talk about the opportunities available in our local market.<\/p>\n\n\n\n

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www.eatalyathome.com\n\n<\/figcaption><\/figure><\/div>\n\n\n\n

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. <\/p>\n","protected":false},"excerpt":{"rendered":"

Like a fine wine or a new Nicholas Sparks novel, all good things take time.\u00a0 \u00a0\u00a0It\u2019s been months since I\u2019ve taken pen to paper to put down my thoughts in the gem that is known as Hamptons Chatter.\u00a0\u00a0\u00a0\u00a0 Well, there is no time like now to get started and leave 2020 behind and look toward … Read more<\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","generate_page_header":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[2894,2897,2893,2896,1351,2898,1428,2826,2895],"class_list":["post-5375","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-2894","tag-danielle-hale","tag-eataly","tag-experts","tag-rentals","tag-robert-dietz","tag-summer","tag-summer-2019","tag-trends"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p8pfeo-1oH","jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/hamptonschatter.net\/chatter\/wp-json\/wp\/v2\/posts\/5375","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hamptonschatter.net\/chatter\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hamptonschatter.net\/chatter\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hamptonschatter.net\/chatter\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/hamptonschatter.net\/chatter\/wp-json\/wp\/v2\/comments?post=5375"}],"version-history":[{"count":4,"href":"https:\/\/hamptonschatter.net\/chatter\/wp-json\/wp\/v2\/posts\/5375\/revisions"}],"predecessor-version":[{"id":5384,"href":"https:\/\/hamptonschatter.net\/chatter\/wp-json\/wp\/v2\/posts\/5375\/revisions\/5384"}],"wp:attachment":[{"href":"https:\/\/hamptonschatter.net\/chatter\/wp-json\/wp\/v2\/media?parent=5375"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hamptonschatter.net\/chatter\/wp-json\/wp\/v2\/categories?post=5375"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hamptonschatter.net\/chatter\/wp-json\/wp\/v2\/tags?post=5375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}