Northfork Properties

Montauk Homeowners Turning Cold Shoulder to the Young and Restless

 
Posted on Saturday February 1, 2014 4:01 PM
by Joseph Kazickas Comments Off

It seems as if many Montauk property owners are fed up with the mob of young renters who have favored the hamlet of Montauk as their nesting area for the summer. Montauk, a drinking town with a fishing problem, has exploded in popularity over the last few summers, particularly among young renters who typically share a summer house with friends.

Your morning view from this 2 BR oceanfront cottage in Montauk with heated pool.

Your morning view from this 2 BR oceanfront cottage in Montauk with heated pool.

Now it appears as if the backlash is in full swing. Homeowner after homeowner reports that there is “no way” they will rent to the younger crowd. Landlords cite one nightmare experience after another involving tenants who show callous disregard for the peace and quiet sought by neighbors, and who more often than not, chose to overlook, or become party to, the destructive treatment of the rental property itself, by raucous housemates and partying guests.

And of course, all this only makes things more difficult for the few responsible tenants who come prepared with references and a track record. One homeowner said that even references won’t convince her to rent to younger adults.

The exceptions are few, and far between. When told by an agent that the proposed tenancy involved a group of young people, one Landlord promptly raised the season asking price and declared the broker’s commission would need to be paid by the tenant, contrary to convention in the Hamptons. “I don’t care if they bring a bunch of giraffes,” the homeowner added.

Agent Diane Shifman of Rosehip Partners, hoping to place repeat customers with a pristine rental history, summed it up, “These younger tenants, many of whom seem to display no sensitivity at all when it comes to the treatment of other people’s property, have brought the situation down upon themselves.”


The 2014 Hamptons Rental Season Is Off And Running

 
Posted on Monday January 20, 2014 6:38 PM
by Joseph Kazickas Comments Off

The rush is on as far as the 2014 Hamptons rental season is concerned and just as in previous years the earliest action is in Montauk.
It is interesting to us that rental activity generally follows an east to west movement. Amagansett will be the next hotbed of rental action.
And, as in years past, Montauk is drawing the younger set with rental properties that lend themselves to sharing and priced between $30,000 and $40,000 getting the most attention. Also we have seen some price increases as well for the first time in a few years.

Here’s an example of what you can get at that price point:

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This clean, modern style comes with a bonus view!


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For the latest availability of rental properties from Westhampton to Montauk visit www.hamptonsrentals.com.


Super Star Real Estate Agents – What Do They Bring To The Table?

 
Posted on Monday November 25, 2013 9:21 PM
by Joseph Kazickas 1 Comment »

Controlling the keys is money in the bank for the Listing Agent.

Almost every real estate market has its Super Star agent, or two, the agent who seems to stand out from the crowd and has set himself apart by virtue of superior performance and reputation. In higher end, and more visible markets such as the Hamptons, Super Star agents often end up in the public eye as minor celebrities catering to celebrities, harvesting seven figure incomes in the process.

The biggest and most consistent money makers in the real estate business, however, aren’t the agents driving their customers from mansion to mansion. The big earners in the real estate industry are those agents who have mastered the listing process. And, more often than not, this skill set is of no value to a seller.

The greatest difference between an agent who lists (a “listing” agent) and one with a buyer in hand (a “selling” agent) is that a listing agent has the entire universe of real estate agents working on their behalf to bring a buyer to their listing. In fact, in most markets it is probable that over 90% of all listings are actually sold by an agent other than the listing agent. And when that listing sells, regardless by whom, the listing agent collects his fee from half the commission paid.

So if that is the case, that the selling agents do the heavy lifting in a typical real estate transaction (namely bringing the buyer) exactly what is it that your typical Super Star agent, usually a listing agent, brings to the table?

Is it superior marketing and advertising support?

Most everyone today has conceded the point that the internet is where the vast majority of real estate searches germinate so attractively presenting a property on the web with its own website has become routine. It is a low cost initiative. Driving traffic to the site is something else altogether, of course. Ultimately finding that dedicated website requires first finding the listing agent’s website, which is usually linked to the agency’s site. Only a few degrees of separation at work here.

Given the domination of the internet as the new real estate showcase, print advertising has suffered generally but the visibility that is print is exactly the medium where a Super Star achieves two objectives most effectively. The first is to mollify a seller who expects print exposure, but the second is to self promote and showcase himself to the public as the listor, thereby building his brand. And given that a typical super star listor might have dozens of listings there is plenty of opportunity to do that.

What ends up being most cost effective form of marketing? The old fashioned For Sale sign, with the listing agent’s name prominently displayed. Anyone can do that.

Broker and Public Open Houses? Super Stars have assistants to work those. We actually have been to an open house that was exactly that, open with no one in sight.

Showings? Once again, Super Stars have assistants for that tedious aspect of the job (unless of course the customer is a celeb).

Market knowledge? Given that a Super Star listor has broader exposure to the sale side of the market he might more confidently assess value without needing to perform the same level of research that a less knowledgeable agent might. Most property owners, however, have a pretty good feel for the value of their real estate.

An illusion? Now there’s a real possibility.

Almost all real estate agents are independent contractors who, make no mistake, are in business for themselves. Those who become Super Stars know that getting the listing is a lot more important than selling it.

That job is best left to someone else.


Rosehip Partners Supports the Ellen Hermanson Foundation

 
Posted on Sunday August 18, 2013 8:21 PM
by Joseph Kazickas Comments Off

Rosehip Partner, Joseph Kazickas with his son Augie, clearly not contending, but happy to support a great cause.

Ellen’s Run, a 5K road race benefitting the Ellen Hermanson Foundation and the fight against breast cancer, was held today in Southampton. Our parent, Rosehip Partners, is one of many supporters of this event, and we couldn’t help but grab a shot.


Here’s What That Drone Can Do With The GoPro

 
Posted on Tuesday August 6, 2013 3:03 PM
by Joseph Kazickas Comments Off

In James’ earlier post about fun and productivity in real estate here is a photo taken with our Phantom Drone and HERO3 GoPro camera. It’s a lot more versatile, and less expensive, than a chopper with a professional photographer and the results are pretty good, no?
Photoshop corrects the lens curvature, and then we added the delineation. The owner was pretty impressed. You can make out the two of us in the field bottom right.

Go GoPro!


Last Minute Rentals

 
Posted on Wednesday July 24, 2013 8:59 PM
by Joseph Kazickas Comments Off

The 2013 Hamptons rental season will start winding down as we move toward August. As is normal, requests for short term rentals of a week or two are on the rise. Here are a few samples of what you can find on the website www.hamptonsrentals.com…

$17,500/week in Amagansett

$10,000/week also in Amagansett

Last two weeks through Labor Day for $17,500 in East Hampton

East Hampton Summer Colony, near to ocean for $25,000/week

Montauk, first week of August, $9,000

Wainscott...try $5,000

The Town of Southampton prohibits short term rentals, which we view as a shame. Short term renters do not cause an increase in population, contributing to congestion, but they are a revolving supply of fresh wallets. Always a good thing for our economy.


Keeping Real Estate Fun While Delivering Better Service

 
Posted on Sunday June 2, 2013 5:38 PM
by James Young Comments Off
Launching our drone for aerial property photography

Another successful flight and a basket of property aerials

Talking about new technology for the delivery of superior real estate services while a very relevant subject matter these days sounds like a good cure for insomnia to most people. However, in this case, Rosehip Partners’ take on the subject is more than a little bit fun. We have recently invested in a drone aircraft together with a “Go-Pro” camera to give us greater flexibility for the taking of property aerials. At left you can see our fearless leader and accomplished “drilot,”(drone pilot) Joe Kazickas launching the bird to photograph Rosehip’s latest exclusive on Pondview Lane in East Hampton.

Truth be told this baby is our second take on the initiative after I managed to hang our first bird up in a fifty foot tree requiring the services of Charlie Whitmore and his cherry picker to get the drone down. Unfortunately he couldn’t come until the next day and it rained all night. The first Rosehip bird has never recovered. Meh, you live, you learn. If you’ve got a property for sale and want to come out for a test flight give us a call, we’d be happy to “take you up on it.”

Rosehip's Drone Hovering over a Property Near You

Up Up and Away


Another Strong Rental Season in the Hamptons

 
Posted on Tuesday April 2, 2013 7:42 PM
by James Young Comments Off

Apparently the Hamptons isn't all Shingles and Gambrels

Yes, it’s true the Hamptons are having a great rental season in 2013 and Rosehip Partners is riding the wave. Our website Hamptons Rentals generates a steady stream of leads every day and our agents distinguish themselves with superior service to their homeowner clients and rental customers. We are happy to report that our Principal Broker, James Young was quoted in a recent New York Times Article about the hot Hamptons Real Estate Market and in particular the extraordinary demand for rentals in Montauk. “Montauk is on fire!”

A couple quick points about the general rental market this year.

  1. Maybe it’s Rosehip’s excellent representation of our Landlords, or maybe it’s the market, but our 2013 deals are happening at 90-95% of full asking price.
  2. The demand for shorter term holiday rentals, the bane of the realtor’s existence, continue to increase.
  3. Somewhat paradoxically, the demand for year ’round rentals is higher this year than any season in recent memory

And what does all this mean? Who knows.


The New York Times Weighs in on the Hamptons Real Estate Market

 
Posted on Saturday March 23, 2013 7:45 PM
by Joseph Kazickas 1 Comment »

It has been a while since our last post here on the Marketwire but to be honest there is only so much time in the day and with the hope that this blog stays interesting to our followers we’d rather say nothing than fill it with nothing.

First a quick rental review. As expected the rental market this year continues to outperform last year’s. In a nutshell the days of pricing erosion are over following the overall reset in asset prices that started in 2008. And while prices are no longer going down, neither are they going up. There is, however, elasticity at the higher end of the market where we see some discounting from ask. The mid market (between $30,000 and $60,000 for the traditional MD-LD season) has seen good demand, good absorption, and steady pricing.

Rented by Rosehip Partners to delightful clients. South of the Highway in Bridgehampton.

The New York Times published it’s market overview this weekend and here is the link. Of course all the sex appeal is in the high end, but candidly most of  the action is elsewhere. Especially so on the re-sale side where appropriately priced properties that come to market under $1,000,000 seem to be finding a steady supply of buyers.

So as not to risk becoming longwinded here are two recent news items about things that you can’t make up…

The seller who refuses to leave her house, read a brief news report here.

And, we like this one, but pity the agent who did the deal. How was he to know? A problem that sometimes arises. Please read our July 16, 2012 post.


Hamptons Rentals – One Month In…

 
Posted on Friday February 8, 2013 7:40 PM
by Joseph Kazickas Comments Off

Vintage Montauk

The 2013 Hamptons rental season is starting to pick up, but if you are hoping to find something to rent in Montauk this season it’s already starting to wind down. There has been an unprecedented level of interest in Montauk thus far this year and most properties priced within the $25-35,000 price point have been rented by a largely younger audience. There were times in January where agents, not only from Montauk, but from points west, crossed paths with each other multiple times, customers in tow. In short order inventory was consumed.
Anecdotal evidence suggests that this will be another active rental season.