Andrew Doud 0:08

All right everyone, it's Thursday. I'm Andrew Dowd. Time for our Happening in the Hamptons podcast, our weekly breakdown of the Hamptons market, new listings, and events on the East End. We are sponsored today by New York Title Abstract, the Hamptons leading title insurance firm. Visit NewYorkTitle.com. We have Steve Glick, Dave Retiner, and today my better half, Sarah Dowd. Welcome back.

SPEAKER_00 0:28

Thank you guys. Always good to be here.

Andrew Doud 0:30

Uh so last time we had John, I think it was like the middle of winter, maybe January. Uh things have obviously improved weather-wise, which is great. We're getting into summer, things are looking great. Everybody seems to be busy. What how are things on your end as far as real estate?

SPEAKER_00 0:43

Yeah, so the winter felt a little sleepy to me. And then January hit and it just felt like the Hamptons exploded again. And so whether it was rentals, sales, everything started shaking out and moving to the point where if it's priced right, you know, within a couple of days, you've got multiple offers. Wow. And, you know, those OA's offering acceptances within two weeks of listing correctly. So things are really moving.

Andrew Doud 1:05

We always talk about it, it seems like on the podcast, no matter what agents on, like pricing, pricing, pricing. Price it right, it'll sell. But I imagine when you go to a listing pitch, any homeowner is like, well, I really want to get X. And you go, okay, what the comps are saying, it should be Y. So one, how do you have that conversation with people? And and two, you know, what kind of proof can you give them as far as, hey, look, here's where I priced it and now it's gone.

SPEAKER_00 1:32

Right. So just the proof of performance, you know, showing that the listings that have done this successfully and and moved off market uh in, you know, that happy time frame where they're not just sitting there for months and then doing reduction after reduction. That's just not my style. I don't prefer to work that way. I prefer to just be honest up front in the listing pitches and um, you know, just kind of cut to the chase and and price it where it's supposed to be. You don't want to give it away, but you want to put it at the the fair market value. And you really need a serious seller for that. Uh, there's a lot of sellers who are just kind of those maybe sellers. Yeah, maybe we'll sell if we get the right number. Um, but my favorite listings are when you have a really serious seller who uh wants to get the right dollar uh for their house and and then you can actually market it and move it and perform.

Andrew Doud 2:19

And you had a couple of those recently.

SPEAKER_00 2:21

Yeah. So uh three that we just that I just had on, like I said, within a couple of days, and then those uh contracts being out within two weeks of listing, you know, you have those success stories.

Steve Glick 2:31

Wow. And it comes to an experience too, like when you're talking to the homeowner and it's like you have a proven track record of success. So it's not that just like you're throwing out a number, you lived it, you've seen it, and you know um what it takes to sell it, what's the right price.

Dave Rattiner 2:46

But there's a lot of tricky real estate agents out there, and there's some agents that will take a pro uh listing just to have the listing, even though it's a comically overpriced listing.

SPEAKER_00 2:56

Right. And to me, that's almost a waste of time. I mean, you'll get leads on it, but you know, you my goal is to work hard and like I said, to perform. So you want something that's going to be priced correctly, uh, and you're able gonna be able to really market correctly and move.

Steve Glick 3:11

Yeah, you're doing a disservice to that person as well. I mean, if you're you're taking on a listing, and like to the area in a way.

Dave Rattiner 3:17

Yeah, it's like your neighbor's like gonna be like they get all excited.

SPEAKER_00 3:20

Look how high that one goes on, and then it's you know, disappointing benefiting anybody, right?

Dave Rattiner 3:25

Yeah, um you push it hard though on rentals as well. You push you you're you're like a rental agent and you're like a sales agent, but you are legitimately both. There's uh really very few agents out there that I've met really that push aggressively both businesses. Like you really push your rentals.

SPEAKER_00 3:44

Yeah, it it's important to me. A lot of it kind of has just fallen into place naturally because almost everyone I've sold a house to uh they have the rental uh program in their head as part of their formula. So we have a success story with buying it, then we have we stay connected, and it's this relationship that grows for years with uh the rental market and just year after year putting in a tenant. And um, those relationships to me are are ultimately the most important because that's continued business and future business. And the the people who are renting turn into customers, so it's worth the hustle. Rentals are, I think, harder than sales uh often because they're just uh a lot a lot more time and boots on the ground for that, but the payoff is there, so it's worth it.

Andrew Doud 4:26

The sales turn the rentals, the rentals turn to sales. Yeah, the cycle continues. Yeah.

Dave Rattiner 4:30

What do you think the catalyst was for January? Like I noticed it too. It's like, you know, it seemed like everyone was sensing that the market was too high and that the buyers were getting more power to negotiate. And then something turned on in January and it had nothing to do with interest rates, obviously.

SPEAKER_00 4:48

I think they did move. We had saw one movement where everyone got really excited there in January, and that kind of shook some people out. Um, and then I think honestly, a little bit of the conversation about the commission structure possibly changing going forward uh into summer, I think that's motivated a lot of people to just kind of get going. Right. Um, because you know that's a little bit of a fluid conversation coming up this year. So I think that those two things possibly, and just people being excited that it's Hampton's summertime and this is truly the selling season. I think we always have a a buying and selling season that moves, but this is I would say the strongest time of year.

Andrew Doud 5:23

Yeah. To that point, uh you mentioned you had what, three that are in contract, right? But you got two more that are coming on the market or just came on the market.

SPEAKER_00 5:32

Yeah, so 12 Stillwaters lane in West Hampton Beach is amazing. Um that's a new offering where it's uh basically this perfect nearly nearly acre property, but it's just perfectly square. The opportunities to move in and just have it enjoy it how it is, is there, but you can also blow this, you know, and make it much bigger, and um the neighborhood supports it because it's more of an estate section and you're super close to the village and the ocean beaches, and it's just that uh West Hampton Beach.

Andrew Doud 6:02

This is like right in the middle of the village.

SPEAKER_00 6:04

The location is what sells.

Steve Glick 6:05

I mean, you're not seeing the many properties come up for sale in this location. You're you're like right there.

SPEAKER_00 6:10

So we did a fun video where we showed the proximity to the the you know performing arts center.

Dave Rattiner 6:14

Oh, look at this outdoor grill area. Look at that. That's like a dream. Look at that. That's so cool. Sorry.

SPEAKER_00 6:19

The heated pool, and just again, like just taking the house away from the equation and looking at the flat, usable space. Yeah, uh, to me is an amazing opportunity.

Steve Glick 6:27

This is great.

SPEAKER_00 6:28

And then there's another one in um uh Shinnecock Hills, the Southampton area coming on for just under one eight. That's beautiful turnkey, heated pool, and that should be launching this weekend. So there's a lot of fun stuff, and people are listing. Pete, you know, we've had low inventory, you know, last couple of years, but I think people are getting excited to be on the market, and um we're seeing a lot of action.

Andrew Doud 6:48

I I know how busy you are because obviously, you know, we're married, but um the I mean i I work with agents at Saunders every day, a bunch of different agents, and a lot of them have been telling me how busy this year has been since January. They've just been well like moving and shaking, yeah.

SPEAKER_00 7:04

And even attorneys, like attorneys, you know, you're like, Can I get this contract out today? And they're like, Well, I have three closings today, so you you see it from that end as well. Um, everybody's quite well we see it with the data as well.

Dave Rattiner 7:14

Yep.

Andrew Doud 7:15

I would also say uh to check out Sarah's Instagram reel because we did this little blooper reel on that shoot in fun in in uh in West Hampton Beach. Oh, cool. And I'm like, because we were we we brought her bike so that she could, you know, you can really if you you can you if you have a bike, you can go into the village. You can go to the beaches, and it was hot that day, so I was like, listen, I you know, we can't keep throwing the bike in the back of the car. I'll ride it down to the beach for you. You just follow me. And I'm like pedaling down the beach. You know, so um anyway, we tried to have a little bit of fun with that, but it's it is a great listing, and um and you gotta have fun while you're doing it.

SPEAKER_00 7:52

Yeah, you know, what's the point?

Andrew Doud 7:54

In a good location. Um we touched on this a little bit, but uh the rentals. Um, you you do a lot of rentals, and Hampton Life magazine is featuring you as the Hampton's rental expert for their June issue. Uh tell us a little bit about what that is all about and how you got picked and what your your message is for the for the rental world. So they Is it and is it too late? I mean, it's like you know, we're in the summer, but can you still get a rental?

SPEAKER_00 8:20

I actually just so a couple stories. Everything, all right. Hampton Life magazine reached out, asked for my opinion on what the rental market is doing. And I think hands down, the the point of that article is the takeaway is this if you have a heated pool, you're renting. Um, that is what almost hands down everybody wants that I've come across.

Dave Rattiner 8:40

Um, for the heated pool, the renter pays for it. The tenant pays for it, yeah.

SPEAKER_00 8:44

So, you know, I mean, and you want them to, because if they crank it up and put it with a lot of money, yeah, it turns it into a jacuzzi.

Andrew Doud 8:51

It's a hundred degrees.

SPEAKER_00 8:52

But but um, you know, they they reached out and and the pool thing is important, and all of my exclusives rented this year that had the heated pool. Wow. So those, you know, are off the table. That was what everybody wanted, hands down. Um, and I actually just a super beautiful new listing I just put on uh yesterday. So that is Four Peconic Road waterfront with the heated pool, also. So very rare to get that waterside pool uh with your little private beach and stylish furniture. So that I I did say all my exclusives with heated pools were rented, but now I have a new one as of yesterday. So um it's priced great and I expect it to go and be the next one that rents.

Andrew Doud 9:33

Four Peconic Road. That is a that is a good one. I shot that uh last week, I think, and that overlooks Shinnecock Bay. You can see the uh the Pongwag Bridge off in the distance.

SPEAKER_00 9:42

You're close to And the fireworks, you're gonna be able to see that there before Fourth of July. This amazing display right in front of you.

Andrew Doud 9:50

Um and there's a steps down to like a little beach there. Yeah, you know, so you can have an amazing Fourth of July party, I think. Wow. Uh fireworks are such a gift, right?

Dave Rattiner 9:58

They're it's just so fun. It's just the best.

Andrew Doud 10:01

Well, we got a couple weeks, and then we'll be touching touching base with Dave on all our firework locations. I just think that's such a professional firework location.

Dave Rattiner 10:09

Such a great night out, fireworks.

SPEAKER_00 10:11

Um Good Hamptons tradition.

Andrew Doud 10:13

It's the best. So, all right, so that's that's a look at what do you got going on? Broader picture. What do you got, boss?

Steve Glick 10:20

Sure. Over the past week there were 24 listings that went into contract from West Hampton to Montauk compared to the same week last year. There were 29 listings, so that's a decrease of 17%. Um the year in 2022, there were 27 listings, that's a decrease of 11%. The breakdown of 24 transactions this week, there was one over 40 million, one between 10 and 20 million, four between five and ten million, four between three and five million, seven between two and three million, six between one and two million, and one under a million. But the dollar volume this week was 138 million dollars, and last year it was 83. So we're looking at an increase in the dollar volume of 66 million. And then you go back to um 2022, the dollar volume was 113 million. So we're looking at an increase there of 22 percent. So increases um over the past two years for dollar volume, but decreases in uh listings going into contract. But new listings coming onto the market, there were 26 new listings, so that increases the mark inventory by two listings, and the breakdown of those 26 new listings, there were six between 10 and 20 million, five between five and ten million, two between three and five million, four between two and three million, and nine between one and two million. The overall inventory stands at nineteen hundred and sixty-three total listings, fifteen hundred and six active, and four hundred and fifty-seven in contract.

Andrew Doud 11:40

All right. So um is that almost a two thousand that that number?

Steve Glick 11:44

Yeah, we're creeping on two thousand total listings. We surpassed fifteen hundred active. Um, another great week for seeing dollar volumes uh year over year increasing, but in contracts uh was slightly um lower than last year, but nothing to be alarmed about. Everyone was just enjoying uh, you know, Memorial Day, I guess.

Andrew Doud 12:05

Yeah. Uh well, and you know, we talk about that every summer too, where like August tends to be like one of those more quiet months because people have put all that work in with their rentals and their sales, and we're like, I just want to enjoy the hand.

Steve Glick 12:16

Enjoying, yeah. So we're gonna see some ups and downs week over week, but it's gonna be a steady flow of uh activity happening this summer.

Andrew Doud 12:23

Um, Dave. Yes, if I am out here this weekend doing summer activities, yes, where would I go?

Dave Rattiner 12:33

The first place you would go is June 2nd from 5 p.m. to 630 p.m. at the canoe place in cottages in Hampton Base. Sarah Dowd will be speaking about the power of telling a story.

SPEAKER_00 12:50

Yeah.

Dave Rattiner 12:51

Is that what it is?

SPEAKER_00 12:52

Yeah, and I'm gonna recruit.

Dave Rattiner 12:53

I don't know why I said it as a question. So it's called The Power of Telling a Story. Sarah, are you you're the main speaker or are there other speakers?

SPEAKER_00 13:00

The the main group that puts it on reached out for three candidates to be guest speakers, and so I feel very lucky to be chosen to participate. It's gonna be fun. Um, but they're gonna make you, you know, you gotta dive in deep. You gotta find a story to share, and you know, yeah.

Dave Rattiner 13:14

So this is like a TED, it's like it's kind of like a TED talk.

SPEAKER_00 13:17

A little bit like that. Yeah, it's gonna be, you know, a little more intimate in the library, and just um I'm sure the crowd won't be gigantic.

Steve Glick 13:23

Are you talking about real estate? No.

SPEAKER_00 13:24

So I'm gonna talk about basically that moment of truth where I decided to leave my Emmy Award-winning television career and do something different. Awesome. And so it's gonna be, you know, that moment of truth.

Andrew Doud 13:37

So it sits on the shelf in our house. And I have to look at it every day knowing that I only got nominated. That's sick. It's all right, uh.

SPEAKER_00 13:47

But you know, hard, hard decision and career changes, and here we are.

Andrew Doud 13:50

She was very good at journey at being uh an on-air television person.

SPEAKER_00 13:56

Um you could have chosen any story though. So, you know, if you guys have a good story and I could sign up.

Andrew Doud 14:02

I like your story. I think that's good. Um that's cool. You definitely have. I always find that uh like real estate, very few people got into real estate as like their first career. You know, so many agents have like another story, a different life. Yeah. Uh I mean, myself included, but um, it's like it's it's just wild. And it's interesting because it brings such an interesting dynamic to everybody. Everybody meet has like a whole story of what they did before.

Dave Rattiner 14:28

Well, I think there's a reason for that, is is because you need you really need a financial cushion to get into real estate. Yep. You know, so like you know, to get it going could take like a whole year, you know, of pushing yourself out. So I think that's why that happens, and why you know, people that are like you know, 25 don't get started in real estate because it's like they can't live you know for a whole year.

Andrew Doud 14:48

Right. Or the people that like were like, I'm gonna get my license during the pandemic. And they're like, this is really hard now.

Dave Rattiner 14:54

Yeah, yeah. That's true.

Andrew Doud 14:55

Um, all right, so that's canoe place.

Dave Rattiner 14:57

Yes, canoe place I I picked this one. This one just from had you written all over it, Andrew Dodd. This was called Beer and Blacksmithing with Ricky Botmus. This just has blacksmithing is in the Andrew Dodd. You just like beer in blacksmithing? You just like macho stuff. You know, you like like the the big cars and the trucks and stuff and tractors. You're just cowboy thing. Yeah, yeah, yeah. So blacksmithing. I thought this was funny. So this is typical Hamptons guy. Yeah, so this is June 1st, 4 p.m. to 8 p.m. So it's long. Um, drinks and pizza will be provided, including beer, of course. And they teach they teach you how to blacksmith and you you blacksmith some stuff. I actually think that's awesome. I think it's pretty cool. This is at the Carwith House in Bridgehampton, which is a pretty cool, you know, it's it's cool. And uh yeah, this guy looks legit. You know, they got a picture of this guy here, and you know, he's got the flannel shirt on and the beard and the whole thing.

Andrew Doud 15:52

See, I know what Sarah's thinking right now.

Dave Rattiner 15:53

You know, he blacksmiths.

Andrew Doud 15:54

Sarah's gonna send me to do this so that I can like learn how to make horseshoes for the ponies for the ponies in the backyard. There you go.

Dave Rattiner 16:01

It sounds very useful. I gotta get to that. I actually think that's awesome. Yeah, it's cool. I thought it was awesome. Let's go. Um, all right. So then also on the 31st from 7 p.m. to 8 p.m., the Pearlman music program uh on Shelter Island is having their season opening concert. Have either of you been to that? I've been to it a couple times. It is amazing. It's under a big tent on Shelter Island, and they play Mozart and Beethoven and Hayden, and it's all done by uh like savant kids, like 12 to like 15-year-old kids.

Andrew Doud 16:38

Is this that place that's not like kind of down the same road as Sunset Beach?

Dave Rattiner 16:42

Yes, yeah, okay, okay, yes, drove by it's unbelievable. Like all of Shelter Island goes, people people from out of town will also go.

Steve Glick 16:50

So what is it?

Dave Rattiner 16:51

It's a performance, it's a performance, but it's really at a uh it's at a very high level and it's outside. And um, It's Ock Pearlman, who's one of the most famous uh violinists in the world, he like owns it and runs it, I guess, with his wife. And um it's pretty cool. Usually he's there, he's gotta be getting on an age now. Um but he's saying he's performing. Yeah, I so he has to be you know, 20 years ago he performed. Twenty years ago he performed. So I'm I'm not even sure if I don't want to sound like ignorant because like I'm not even sure if he's around. But it was a check the performance is happening, but the performance and it and it has show must go on, yes, yeah. No problem, but it's still it's it's amazing. The last time I was there was seven or eight years ago.

Andrew Doud 17:42

Shelter Island is like once summer happens, it's magic, it just like turns on.

Dave Rattiner 17:47

Yeah, it's just so beautiful, you know. It's like got that it's mod talk, it's got the same thing. It's just like you're just like, dang it, this is so beautiful, you know. You're just like, oh, it's overwhelming. Finally, what I always like to do is I like to have a conversation about your favorite restaurant. So we give the agent an option for their favorite restaurant, which is this is a tricky one.

SPEAKER_00 18:09

I know what you're gonna say. So we've been trying to, I'm gonna go not restaurant, but more cafe. There is a new place in Hampton Bay is that is all sustainable, organic, healthy, healthy, healthy, which in our household is important to us. Um and honest plate is what it's called. Honest plate, oh, yeah.

Andrew Doud 18:31

You have to know where it is.

SPEAKER_00 18:32

You have to know where to go. Yeah. So it's a little bit of a free jam. Yeah, but everything's not real healthy.

Andrew Doud 18:39

It's not, but it's just you have to know where it is. I she told me about it, and I was like, where is this?

Dave Rattiner 18:43

I'm looking at the pictures. Well, if you're into healthy. So wait, hold on, what did you get there? Wait, wait, what's the food you get?

SPEAKER_00 18:49

So, well, you can go in there for just your smoothies and your your breakfast stuff, but they also have like an amazing burger that's just like you said, organic, and you get the salad on the side. All right, great. They do a lot of catering, um, big events for catering. But I love just running in and grabbing, but they do meal prepping, so you can have it at your house. It's a little bit of an unconventional answer, but um, that's a good idea. I like that a lot.

Dave Rattiner 19:10

That's your uh Friday, Saturday, Sunday in the Hamptons.

Andrew Doud 19:13

Lastly, Sarah, anything else to add before we let you go?

SPEAKER_00 19:17

No, just happy summer, everyone. It's here. Enjoy it. And you know, all this is important to like buy, sell, rent. That's what I always say, but like live the Hamptons too, because that's you know what we're all here doing is enjoying it.

Andrew Doud 19:28

That's it. All right, we'll have you on next time, maybe in the fall. Um, thank you for joining us. Everybody, thank you for listening. Enjoy this weekend. I'm Andrew Dowd, and that's what's happening in the Hamptons.