Fighting Chance Annual Board of Directors Meeting

January 26th, 2015 by Judi Desiderio

My fellow Directors and I met for a few hours, led by our executive committee, Duncan Darrow, Sue Davies and Tuck Hardy. It was a budget meeting as well as operational. I remain in awe of the staff at Fighting Chance who give endlessly to those in need. I am proud to do my part and thank you for the opportunity!

Spread the word about the free cancer counseling services available at Fighting Chance.

  

Judi A. Desiderio, Chief Executive Officer

JD@1TownandCountry.com          

631.324.8080 ext. 221


Town & Country 2014 Hamptons Year End Home Sales Report

January 22nd, 2015 by Judi Desiderio

It was a remarkable year for Hamptons Real Estate, particularly the high end as evidenced by 19 home sales $20 million or more. This was a 138% leap over 2013. Last year, 8 home shared that elite status, this year in Bridgehampton (which includes Water Mill and Sagaponack) there were 5 in the last quarter alone. An amazing statistic.

 

But let’s take a look at the remaining 99% of the Home Sales for 2014.

 

Amagansett statistically saw the greatest leap in the Number of Home Sales with 27% more. In fact, our sweet and sophisticated hamlet of Amagansett had a great year with a staggering 63.4% increase in Total Home Sales Volume and a Median Home Sales Price for the year of $2 million — nearly 10% higher than last year

 

Sag Harbor was another jewel in the crown posting 20% more Home Sales, a 64% increase in Total Home Sales Volume and 18% higher Median Home Sales Price. A good year at the Harbor!

 

Westhampton (which includes Remsenburg, Westhampton Beach, East Quogue, Quogue and Quiogue) closed 374 homes or 21% more sales than in 2013.

 

The Montauk market may look like it is softening but that’s not at all the case. Here’s where boots on the floor tell the real story — TOWN & COUNTRY Montauk Associates report it is simply a lack of inventory, that’s the issue.

 

Bridgehampton (which includes Water Mill and Sagaponack) almost hit the elusive billion dollar Total Home Sales Volume threshold with $975,741,467 trading hands.

 

Viewing All Hamptons Markets Combined and the year 2014 showed significant gains in all 3 criteria monitored by TOWN & COUNTRY, with the high end adding a turbo boost.

 

To view the complete Report along with Statistics click here.

 

Judi A. Desiderio, Chief Executive Officer

JD@1TownandCountry.com          

631.324.8080 ext. 221


Town & Country North Fork 4th Quarter 2014 Home Sales Report

January 19th, 2015 by Judi Desiderio

The last 3 months of 2014 were good for the North Fork in 3 of the 4 markets monitored by TOWN & COUNTRY.  In fact, Jamesport (which includes Aquebogue, Baiting Hollow and South Jamesport) increased 33%. The only hamlet to see a decline was Mattituck (which includes Laurel and Cutchogue) dropping a significant 33% from 51 home sales to 34 year to year 4th Quarter.

 

Orient (which includes East Marion and Greenport) had the most Number of Home Sales with 38 for the quarter. Orient (which includes East Marion and Greenport), also experienced the greatest bounce in all 3 categories monitored by TOWN & COUNTRY with a 27% increase in Number of Home Sales, a 55% jump in Total Home Sales Volume and a 23% gain in Median Home Sales Price.

 

All TOWN & COUNTRY Associates from our 8 offices are reporting the busiest January since 2005 for appointments. This should reflect on the TOWN & COUNTRY 1st Quarter 2015 Home Sales Report.

 

At TOWN & COUNTRY we are experiencing an up-tick in buyers in all price categories but a shortage of listings.

 

Looking at All North Fork Markets Combined and we see that the volume of business is consistent with the last 3 months of 2013 but the Median Home Sales Price rose 5.2%. There’s no doubt that the North Fork Real Estate Market is on an ascent.

 

To view all reports visit 1TownandCountry.com/Reports.

 

Judi A. Desiderio, Chief Executive Officer

JD@1TownandCountry.com         

631.324.8080 ext. 221


Town & Country Hamptons 4th Quarter 2014 Home Sales Report

January 19th, 2015 by Judi Desiderio

2014 was an incredible year for Hamptons Real Estate. TOWN & COUNTRY, like most other brokerages, had its best year ever by far.

 

One shocking statistic was that not every market saw gains in the Number of Home Sales.  In fact, 3 of the 12 markets monitored by TOWN & COUNTRY saw declines, with the steepest drop in East Hampton Village at 21%. One market, Shelter Island, remained the same at 17 home sales year to year 4th Quarter.

 

But the main take away from these statistics is in the BLACK in Bridgehampton (which includes Water Mill and Sagaponack) as the Maserati.  Bridgehampton nearly doubled its Total Home Sales Volume to a staggering $366,815,500 worth of home sales transferring in the last 3 months of 2014.  In 4th Quarter 2013 Bridgehampton (which includes Water Mill and Sagaponack) had ZERO sales in the $20 million and up category, while in 4th Quarter 2014 there were 5 homes sales in that stratosphere. That’s over $100,000,000 in just that one price category.

 

White hot Montauk, statistically, blew every other market away with 83% more Home Sales and a 194% greater Home Sales Volume year to year 4th Quarter.

 

All TOWN & COUNTRY Associates from our 8 offices are reporting the busiest January since 2005. This activity should reflect on the 1st Quarter 2015 Home Sales Report.

 

All Hampton Markets Combined tells the tale of the most staggering year for high end Hamptons Real Estate. In the last 3 months of 2014 there were 22 Home Sales over $10 million and 11 over $20 million — in 2013 there were only 2 over $20 million. The question in everyone’s mind is “Is this a new trend or the spike we see every 7-10 years?”.  The answer to that question is tied to the stock market.

 

The other rare find in this 4th Quarter Town & Country Home Sales Report is that we topped the billion dollar threshold in Total Home Sales Volume at $1,284,226,683.  We haven’t seen that in 7 years.

 

To view all reports visit 1TownandCountry.com/Reports.

 

Judi A. Desiderio, Chief Executive Officer

JD@1TownandCountry.com         

631.324.8080 ext. 221


Lights out at 11pm in East Hampton Village

January 14th, 2015 by Judi Desiderio

Let me first tell you of a conversation I had with a client about a meeting we were to have – she asked me which Town & Country office I was at.  When I replied the East Hampton Village office of T&C she quickly quipped, “oh, East Hampton… the UNFRIENDLY village”.  Offended I asked her why she would say that, to wit she said, “You are the only ones with 1 hour parking – I can’t eat lunch in an hour, I can’t go to the movies in an hour and I certainly can’t shop in an hour, so frankly I don’t go to East Hampton Village any more”.  This cut to me quick as East Hampton is my home town.  I won’t address the existing issues regarding how ‘commerce’ does not seem to be a good word,  but I must address the latest proposal to have LIGHTS OUT AT 11PM.

 

First there is the safety issue—has anyone discussed this with the EAST HAMPTON VILLAGE POLICE DEPARTMENT?

Secondly, there’s the beauty of our core business district at night when we are all lit up—it’s very inviting! Alive!

Thirdly, from the prospective of business owners, movie goers are still milling around and diners are walking around town—hopefully—

This is a means of branding to those of us who pay Main Street rents and keep local people employed—especially year round—but that’s another subject.

 

Bottom line – East Hampton Village is SAFER, MORE ATTRACTIVE & MORE COMMERCE FRIENDLY WHEN THE LIGHTS REMAIN ON!

 

Judi A. Desiderio, Chief Executive Officer

JD@1TownandCountry.com        

631.324.8080 ext. 221


2015 Predictions

January 9th, 2015 by Judi Desiderio

 

Happy, Healthy and Prosperous New Year!

 

As we tear into a new calendar what’s in store for East End real estate?  Will the trend of high end sales continue to set new high watermarks?  Will the number of home sales reach 2005 levels?  What will the appreciation rate be?  Where will the next hot market be?  Will summer rentals continue moving toward short term?  At 1TownandCountry.com/Blog you can weigh in to the prediction blog.

 

Here at Town & Country, our associates in all 8 offices have been unusually busy with appointments for January.  That tells us deals are forthcoming over the next 30 days and there will be closings in the next 60 days.  January and February are ordinarily quiet months for sales but in years when Wall Street ends the year with a bang, we experience strong first quarters.  This year’s bonuses are expected to take the Jitney east!

 

One additional source of interest we have experienced at Town & Country is, a strong presence of investors from both the tristate region and international shores.  As you know, my personal investment vehicle of choice has always been East End dirt and now it seems to have caught the attention of a much wider audience.  Where are you putting your investment dollars? What are your predictions for 2015? 

 

Judi A. Desiderio, Chief Executive Officer

JD@1TownandCountry.com        

631.324.8080 ext. 221


New Trend or Anomaly

January 7th, 2015 by Judi Desiderio

In 2014, Hamptons Real Estate markets set new records.  The sale of Chris Browne and Andrew Gordon’s 18-acre Further Lane oceanfront estate for $147 million to Barry Rosenstein shattered the ceiling.  The 2007 record, which was the sale of the de Menil Carpenter 40-acre Further Lane oceanfront estate for $103 million, was the last time we saw the high-end fly to new stratospheres as it did in 2014. 

 

Earlier this year a compilation of 4 lots plus an oceanfront estate on tony Gin Lane in Southampton Village sold with a price tag of over $80 million.  This raised a few eyebrows, since it traded late in December 2013 for an amazing $75 million. 

 

Currently there is a sprawling Georgica Pond estate on the market for $148 million.  Is this a market trend?  Will the high-end continue to raise the high water mark?

 

2007 still holds the crown as THE year for high-end sales.  In the 2nd Quarter Town & Country Home Sales Report the Total Home Sales Volume was $1.25 billion and the year-end was $3.8 billion.  Thus far in 2014, total home sales are at $2.5 billion.  Will 2014 match, or exceed, 2007?

 

Is this a trend developing or are we experiencing 2007 deja vu, when high end sales soared until the correction settled all markets down?  Cycles are a part of our business — the duration and depth of each are the key factors.

 

To view all reports visit 1TownandCountry.com/Reports.

       

Judi A. Desiderio, Chief Executive Officer

JD@1TownandCountry.com       

631.324.8080 ext. 221


Main Beach Polar Bear Plunge!

January 2nd, 2015 by Judi Desiderio

On New Year’s Day several hundred people got together for the Polar Bear Plunge to raise money for the Hamptons Food PantryAll of the generous donations will benefit many families in our communities from East Hampton, Wainscott, Amagansett and Springs.  Jim Arnold, an agent from our Bridgehampton office took the plunge at Gurney's Inn, Main Beach and Beach Lane!  What a wonderful way to begin the New Year and thank you to everyone who helped make this event such a success!

Judi A. Desiderio, Chief Executive Officer

JD@1TownandCountry.com       

631.324.8080 ext. 221


Make Some Noise – Help Us Get The Toxic Poles Pulled!

December 31st, 2014 by Helene Forst

LIBFRE, a local, non-profit citizen’s group who is in the midst of a lawsuit fighting PSEG and LIPA to remove the poles, clean up the contaminated soil and water, and go underground with the power lines, is asking for everyone to MAKE SOME NOISE to let our officials know that we’ve had enough.

 

The recent FPM report given to EH Village and EH Town has determined that although pentachlorophenol (penta) was not found in East Hampton groundwater, it was again detected in the soil. Five other suspected carcinogenic chemicals, however, which are components of the penta formulation used to treat the poles, were detected in East Hampton’s groundwater at concentrations up to 48 times higher than the NYSDEC Standards.

 

If we all join together and MAKE SOME NOISE we can right this wrong.  It’s time our officials take an aggressive stand.  We don’t just want the contaminated soil removed, because with each wet event, the leaching will continue, and the soil will again become contaminated.  The contaminated poles need to be pulled and the wires need to be placed underground.

 

LIBFRE’s SUGGESTIONS: Write letters to the editor to local newspapers, the EH Star and the EH Press, and to Long Island’s Newsday; Contact Supervisor Larry Cantwell, Deputy Mayor Barbara Borsack, EH Village Administrator Rebecca Molinaro, State Assemblyman Fred Thiele, State Senator Ken LaValle, Senators Kirsten Gillibrand and Charles Schumer, and Governor Cuomo demanding action They should be following the toxic spill cleanup rules that already exist; Support Fred Thiele and Ken LaValle’s resolution to ban penta in New York State; and finally, Demand that Governor Andrew Cuomo deal with these issues, which he has refused to do since last February.  REMEMBER – Cuomo put PSEG in power.  Speak about it to your neighbors.  Share the information.  Get people to understand how serious this is.  Have people financially support us, if they can, with any amount of money they can afford for our legal fees and expert witness fees, sent to LIBFRE, 26 Gingerbread Lane, East Hampton, NY, 11937.

 

We need people to make noise and express their anger and frustration.  A toxin that will be banned next year for the world should not be excused as okay by PSEG representatives who say it is having the results we expect it to have.  We are not guinea pigs.

 

For more information go to: https://www.facebook.com/libfreinc  

Helene Forst, Chairperson

Long Island Businesses For Responsible Energy, Inc. (LIBFRE)


Town & Country’s Annual Holiday Gala

December 30th, 2014 by Judi Desiderio

Town & Country’s Annual Holiday Gala was at The Southampton Social Club. Ian and his staff did a wonderful job on the scrumptious hors d’oeuvres and fabulous dinner. Cocktails and conversations we enjoyed by all. Judi Desiderio, Janet Hummel and Nancy McGann acknowledged their special staff members, the T&C Board of Directors as well as their award winners! 2014 was Town & Country’s best year ever and the partners thanked everyone for their contribution to that achievement. Tiffany gifts were abundant!

Judi A. Desiderio, Chief Executive Officer

JD@1TownandCountry.com      

631.324.8080 ext. 221