Northfork Properties

Rosehip Supports Hamptons Childrens Museum CMEE

 
Posted on Wednesday June 27, 2012 1:49 PM
by James Young Comments Off

Farming is Very Important in the Hamptons

Here here in praise of the Childrens Museum of the East End!  Better known as CMEE, we’re talking about the Hamptons own world class childrens museum!

Rarely does such a visionary institution come to life in a community,  and better yet, manage to stay alive. Enriching the lives of Hamptons kids, residents and visitors alike for over a decade CMEE has come a long way and needs continued support for their journey forward. Because of our high regard for CMEE, Rosehip was happy when asked to be Patron sponsor at the event last Friday, June 22nd, honoring “founding mother” Lucy Kazickas who has seen CMEE from a mere idea into the jewel that it is today. Offering dozens of play and learning centers for kids of all ages you can see that the Rosehip Partners James Young and Joe Kazickas got in touch with their youthful spirit while getting a special lesson in farming methods from fellow supporters, Vicky, Bobby and Karin Dulai and special friend Amber Bennett. If you’ve got kids of any age get over to CMEE, the whole family will love it!


The Heat Hits

 
Posted on Saturday June 23, 2012 7:44 PM
by Joseph Kazickas Comments Off

The last few days have been miserable. Unusually warm temperatures, high humidity, still air. The perfect recipe for lethargy. Rental traffic has slowed…driving past the Corcoran office in Bridgehampton, nary a car in the parking lot.
The real estate market showed promise in the spring, and delivered. Numerous closings  recorded in April and May are showing up in transfer records now. Since the start of June, 38 transactions were reported in East Hampton Town over half of which transferred in excess of $1,000,000. In April we participated in a bidding war which resulted in a final sale price roughly 6% above asking for a desirable 2.9 acre location at 45 Middle Lane in East Hampton Village. It traded for $10,525,000.
The property was built out in the early 1990′s by the mercurial Cestone sisters as one of a handful of projects, each of which they developed, lived in, and sold on either Middle or Hither Lanes, leveraging the proceeds from each sale into another project until they built a final home for themselves to keep. 45 Middle Lane was purchased from them for $3,150,000 in 1996 – a gain of over 300% over the last 16 years. Curiously there was no pool back then, and there still isn’t today!

45 Middle Lane, earlier this year.


Memorial Day Weekend for Hamptons Real Estate Agents

 
Posted on Friday May 25, 2012 8:44 PM
by Joseph Kazickas Comments Off

Memorial Day Weekend is here and a stoic approach is the order of the day for most real estate agents in the Hamptons. The Summer of 2012 has finally arrived and after several months of catering to tenants and landlords many agents see Memorial Day weekend as being both a goodbye to the quiet and peaceful beauty of the East End during the off season, and a hello to the hectic and consuming job of placing tenant customers in their Hamptons summer rental homes.
More often than not the process is a snap. Most landlords take exceptional care of their properties, are familiar with the entire rental ritual, and do their best to make a summer rental in the Hamptons a success for their tenants, and, by extension, a small triumph for the real estate agent who put together the deal back in February.
It isn’t uncommon for an active rental agent to be placing twenty, if not thirty, customers into their summer rental homes over the course of the weekend. No small task. But somehow it gets done.
The tenants most common concern..? “Why isn’t the pool hot?”
There are nightmare stories to be sure, of clothes driers and refrigerators that don’t work, or worse yet, don’t work well enough.
Truth be told, most tenants don’t return again until later in June, so there’s time to fix things up and get things right. Time, also, for agents to catch their breath, before summer in the Hamptons explodes in July.


The Hamptons Real Estate Market – Everyone Has An Opinion

 
Posted on Saturday April 28, 2012 8:11 PM
by Joseph Kazickas Comments Off

It’s that time of year again – the numbers are in on the Hamptons real estate market for Quarter 1 – 2012, and everyone has an opinion as to how the market is doing. Here are some Google Alerts we’ve received…

Hamptons, South Shore home prices up – Newsday
Hamptons Home Prices Rise as Buyers Prefer Luxury Deals – Bloomberg
The Hamptons, North Fork Home Sales Slightly Uptick in Q1, Luxury Sales … – World Property Channel (?)
Hamptons Real Estate Prices Soar! – Guestofaguest.com
Hamptons and North Fork Real Estate All Over the Place – New York Magazine (I liked that one)
Elliman’s Report For Q1, Results: “More Of The Same” – Curbed Hamptons
Price of high-end Hamptons pads soars 35% in 1Q – Crains
Hamptons sellers cautious, as buyers seek value – The Real Deal


Hamptons Real Estate Market Report

 
Posted on Saturday April 14, 2012 8:37 PM
by Joseph Kazickas 1 Comment »

Suffolk Research Service, Inc. has released its report on the state of the Hamptons real estate market for the first quarter of 2012. Despite the buzz about a recovering market the numbers would seem to indicate that any perceived recovery is less than robust. Granted, these reports lag actual market activity since they reflect closings in the reporting period, not contracts signed. Anecdotal evidence suggests things have improved however we won’t know for sure until 2nd quarter numbers are tallied. You can read the report here.


Rental Market Report from Hamptons Rentals

 
Posted on Wednesday April 4, 2012 3:50 PM
by James Young Comments Off

Great for a Wedding or Event

The Hamptons rental market continues to steam along out here in our paradise on earth. The website/blog curbed hamptons recently posted an interesting discussion about the strength of the rental market. Unfortunately there is little empirical data since there is no central clearinghouse, like an MLS for example, in the Hamptons. The data is highly fragmented among multiple agencies and it’s impossible to know exactly whats going on in the market. That said, at Rosehip we believe the market is approximately 50% rented based upon our database and the number of properties that have gone “Inactive-Fully rented,” which we track and which currently stands at 37% in our system. The fully rented status does not account for monthly rentals that have been made where there are additional time periods still available, or for listings in our system that have rented for the season that we might not have gotten the word about. The close to 3000 listings on Hamptonsrentals.com is updated directly by owners as well as by our team of 15 agents on an ongoing basis so we have a pretty good sense of available vs. rented inventory. Apparently the word is getting out as we have just been interviewed by WCBS all news radio 880 AM. Check out the interview here; there’s a button you can press for the audio version as well. If you want a Hamptons rental give us a call, it seems we’ve become experts!


The Hamptons Rental Market

 
Posted on Monday March 12, 2012 9:47 PM
by Joseph Kazickas 1 Comment »

There has been a fair amount of press recently about the state of the Hamptons rental market. The consensus opinion suggests that the market has been good, if not strong, maybe even hot.

Unfortunately there is no way to accurately confirm that conclusion because the Hamptons rental market lacks a common platform off which all agencies

Newly listed in the Amagansett Dunes - July-LD $55K

operate. It is a fragmented market, with no agency listing all properties in the rental pool. Even a popular advertising billboard such as HREO.com suffers from the defect of multiple duplicate listings, and conflicting data which renders the site useless for an outsider trying to guage the overall well being of the rental market.

Curbed.com is counting the number of property de-activations and the remaining inventory at a handful of the major real estate brokerages as one way to help draw conclusions, but thank goodness they publish the information with a healthy disclaimer as to its accuracy, much less its value in determining the market’s status.

For the moment at least, without a clearing house of some sort, the most accurate information is anecdotal.

Nonetheless, from our perspective, and from conversations with Landlords and competing agencies the 2012 rental season in the Hamptons is off to an earlier and stronger start than either 2011 and 2010. Traffic to the website www.hamptonsrentals.com is up 11% year over year.


The New York Post Reports on the Hamptons Real Estate Market

 
Posted on Sunday March 4, 2012 6:26 PM
by Joseph Kazickas 1 Comment »

Jennifer Keil sheds light on the Hamptons Real Estate Market with this piece in the New York Post.

Nationwide, home prices are back to late 2002 levels, according to Case Shiller in their Feb 28 report on Home Price Indices.


Looking In, From the Outside

 
Posted on Friday March 2, 2012 12:45 AM
by Joseph Kazickas Comments Off

The BBC makes its call on the Hamptons real estate market. Click here.


What’s It Like In The Hamptons Right Now?

 
Posted on Wednesday February 22, 2012 9:30 PM
by Joseph Kazickas Comments Off

If we aren’t asked that question at least once a day, we are pretty sure that people ask it of themselves. Visit this link and enjoy a neat little live streaming webcam that answers the question, any time you wonder. Be sure to select the full screen mode. Mesmerizing!