My Impression of the Real Estate Market in the Hamptons

I took a drive into the town of Southampton today and noticed that there were people everywhere. There is no doubt that people cannot live without their time out in the Hampton's. The difference this year is that people are changing their outlook to a more budget mode. They come in groups, and take less time when they rent a house. The thing that most people who want deals should understand that the cost of having a home has not declined in line with the economy. Taxes are the same with no discounts, electric, propane gas, pool man and gardening is all the same. I had contacted one man who owned a local nursery and wanted 30,ooo plus dollars just for some trees and doing the lawn. I had asked my pool man how business was, and he said don't believe what you hear on the news. Well, only time will tell. I do think that people will continue to take their vacations in the Hampton's for a lot of reasons; tradition, location, the beaches, the scene, beauty and much more.

Photo, JoAnna Levenglick

Kelly Ripa is One of Many Celebrities Who Has a House in The Hamptons

Actress, and talk show host on, "Live With Regis and Kelly'" likes to spend her summer time out in the Hampton's. There are celebrities everywhere, and I guess that is one of the many things that make the Hampton's a popular place for people to go.

Photo, JoAnna Levenglick

A Nice Mailbox Goes A Long Way!

It doesn't take much to make your mailbox look more attractive. I had to look for a long time online and locally in shops to find a mail box that is a bit unique and nice. Once I found one, I had to take it one step further and add flowers to it. It is a simple notion, but goes a long way. Your mailbox is one of the first things you see when you drive up to your house. The real estate brokers always point out that your house should have curb appeal. I mentioned earlier that most homes in the Hampton's have very basic, and in some cases really unattractive mail boxes. Someone did tell me that the local kids like to throw balls at them, but I find that a bad reason for not making an effort. This is the mail box that I chose and help design. I hope you like it.

Photo, JoAnna Levenglick

Mort Zuckerman has a Very Special Passion In The Hamptons

I love Mort Zuckerman! You can see him as a guest on many of the Sunday mornig talk shows, and CNBC.
He is quite the guy; well educated, and very successful! I love how he gives his feedback about the economy and various businesses. He is the owner of Boston Properties, and US News and World Report...just to name a few! He grew up in Montreal, and attended McGill at the age of 16.
Moved on to the Wharton Business School and Harvard Law. He is smart and has a good grip on business.
He has a home in East Hampton, and he shares a special passion while in town. He is a pitcher of the softball team. How sweet is that? Photo, JoAnna Levenglick

Gas Ripoffs...These 2 Stations Are Across the Street From Each Other

Look at the prices of the each: One has 2.79.9 for super, the other has 257.9. I literally drove across highway 27 to compare the prices. The guy who had the higher prices said that he can charge whatever he wants. What I found interesting was that he had no business. This is an fine example of a Hampton's rip off! Photo, JoAnna Levenglick

Phto, JoAnna Levenglick

My Big Nest!

It was suggested to my by a landscape designer that I should get rid of this area of brush on the side of my house. It is not bad once all of the plants have blossomed. It is not that big, but I find it rather beautiful, since you do not see wild growth so much in the Hampton's, since everything is so well manicured. I must point out that the rest of my property is very manicured. Anyway, the reason why I kept it too is that I was advised that the birds love it and if I got rid of it-the birds would be gone. My priority was to hear that wonderful sound of birds singing, as a result I kept the nest of brush so I can hear a lot of bird singing while I make my pot of coffee. I have to admit...I love it!

Photo, JoAnna Levenglick

What is Happening With The Real Estate Market in the Hamptons

It is now a few weeks off from Memorial Day Weekend which marks the beginning of the Summer season. In years past, most people would have their rental deals signed and sealed. Today, thing are much more different in both markets. It must be pointed out that the rental market and the sales market are both different, but are intertwined as well. The reason is that some houses that normally would be on the market for sale, are now added to the rental market since sales are so low, such as a spec house.
This house in the photograph below is listed for sale, and I do not know the price, or how long it has been on the market. It was on a very quiet street with a cul-de-sac, and it looked terrific from the street. New, big, beautiful huge lawn, but the hedges as you can see need to be cut. Street appeal is so important in selling a house. That is the first thing you see when you drive up. Anyway, in terms of the sales department there are reports that things look pretty bad. Inventory is up, and sales are down. Prices are also coming down. The problem is that many people cannot get a loan yet. Things have not kicked in yet from the banks and funding from the US Government. There was one report that quoted sales as being down 66 % over the rate of 2007. Remember, that was 2 years ago, when the market was at it's peak. The selling prices have dropped at least 20 % over last year. Also, more lower priced houses are selling; the 1.2 million and down price points. I have heard that many of the more expensive houses have been hit hard in sales. It is even harder to get a loan, and many of those Wall street folks no longer have a job, or if they do, may not get a bonus. In my personal experience, I bought a new house in June 2008, and feel that I got a good deal then, not only price wise, but also location. South of the Highway, and with water views with 6 bedrooms with pool, and there is nothing in that same price range and location, so I still feel lucky.
You can get much lower prices, but I do strongly feel that there is a lot of garbage on the market, such as old ranch houses that are located in the Village of Southampton with no pool, and only 3 bedrooms, asking over a million dollars.
Now for the Rental Market: There have been reports in local papers and blogs that normally at this time there is 20 % left on the market. These days, there is 50 %. Prices are down 30 % over last year in renting. I saw one report that stated that last last year there were 13,000 rentals on the market, and this year there are 15,000. The increase is due to those houses once listed for sale and now are on the market for rentals. I have listed my house for rentals, and I do get the interest, but what I am seeing is more people pooling together their money for a weekly or weekend share. Even those folks with large groups try very hard to get a super low price. It has been reported that many owners do get angry with the customers because of the low balling, and the owner feeling insulted. My take on it is that both sides have to work together, but not take advantage of the situation. The renter must understand that the costs of owning a house has not come down; taxes, mortgage, gardening, pool, etc. So after awhile, if the price is not good enough, then it is just not worth renting. There is a lot of risk with having strangers in your house. Most people lie, and suggest that it may be 5 people, then you realized that they had a party for 40. Again...it is not an easy choice, but you have to do what is best for your particular situation, and look at it as a business decision. If you are better off by renting at a lower price, then do it, but if your loss could exceed the benefits, then that's another story. Also,ignore all of the stories about the market, becasuse you may have to be more creative to rent. Offer bottled water, Champagne, or free Broadway tickets. You have to make your sale, whether selling a house or renting, stand out. Good Luck!



Photo, JoAnna Levenglick

Southampton, The Oldest English Settlement in New York

The very first settlers of Southampton comprised of 8 men, 1 woman and child in 1640 from Lyn,
Massachusetts's. Town of Southampton is an area of 295.6 square miles, and 156.7 is water. About 53 percent of the town is water.

Photo, JoAnna Levenglick

Christy Brinkley , Her Daughter and Pet on Beach in Hamptons

Christy Brinkley has been a resident of the Hamptons for many years. Is has been reported that she currently owns many homes here, and she has a net worth of about 80 million dollars because of the Hampton real estate. She is such a wonderful role model for her children. She was born in Michigan and later moved to California. She was discovered at a post office in Paris while she was there studying. The rest is history!

Photo, JoAnna Levenglick

Nice Basic Hampton Look that is Very Classic

Guys can't go wrong with this look for the summer. This is an ensemble that has worked well in the Hamptons for years. The white sweater is made of cotton. The Shirt is a 100 % cotton oxford cloth and pants too are made of cotton. All you have to worry about is the pressing.

Photo, JoAnna Levenglick

Hermes Mustard Shoulder Strap Bag

Mustard is a beautiful color than can be worn all year long. This bag is a wonderful size to fit all you electronics in and still have room. It carries the Hermes H in the front and is in a beautiful soft leather.

Photo, JoAnna Levenglick

Cool Sneakers for the Guys!

This is the year of the sneaker. You will be seeing them with color, patent leather and even platforms for women. This particular pair is for men, and for guys who want to make a statement at any party in the Hamptons.

Photo, JoAnna Levenglick

Prada Sky Blue Bag and Feathered Hat

This is a perfect combination to wear in the Hamptons. Designed by Prada, and made in Italy.
The hat is made out of Ostrich feathers in a rainbow of colors, and the bag is big enough to be an over-night case. Mustard shoes are made out of ostrich.

Photo, JoAnna Levenglick