Andrew Doud 0:08

All right, everyone, it is Thursday and happy Halloween. I am Andrew Dowd, and it's 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 by New York Title Abstract, the Hamptons leading title insurance firm. Visit NewYorkTitle.com. We have man, I wish we had a video. We have Mario and Luigi, which is Steve and Dave. And then today we have return guest John Healy, who is going as expert real estate guy in the Hamptons.

SPEAKER_00 0:41

It's Halloween every day for me.

Andrew Doud 0:52

Please on so yeah, so it's Halloween. Happy Halloween, everybody. And uh and so what are we talking about today? John, you're uh you going are you going trick-or-treating later? What do you do at at you know this time in your life? Are you still going out to the neighbors and knocking on door for candy or what?

SPEAKER_00 1:09

I am not. I might go and and watch tonight uh Elm Street, maybe in Southampton, because um my wife's out of town, my kids are out, so it is me and my dog. But I might go for a little walk through Elm Street just to see how the uh there'll be more than one of you though. I don't know if everyone will have a mustache like that, but one of you. Uh I just think it's fun to go see what uh what people dream up and what they think of and so on, and what's uh what's trending in Halloween attire.

Andrew Doud 1:40

We got some pretty creative uh everybody in marketing today has dressed up with the exception of myself. There's a con there's a contest. There's a contest.

SPEAKER_00 1:46

Listen, if it wasn't $250, I don't think you'd have to turn out the gym.

Andrew Doud 1:50

I didn't know.

Steve Glick 1:52

So what happens on Elm Street? So this obviously Nightmare on Elm Street, it's a famous street name, right? So Southampton, they have an Elm Street, right? That's the reason why they do it, right? They shut it down. The cops shut the example. They shut it down completely.

SPEAKER_00 2:09

Parents walk, and you know, uh a lot of times parents go together and they wander through, and the kids can run around and and just they feel safe that they can go wherever they want. It's like that of a motor traffic.

Andrew Doud 2:19

There's a couple towns. Uh where is it in East Hampton? They do. It's Cooper Lane in East Hampton. And then Maryland Boulevard and Hampton Bay, that's where we're going tonight.

SPEAKER_00 2:26

Oh, cool. Watermill does Farmstead Lane at the end of Cooks, they shut the whole thing down, and it's a big loop. It's pretty long, and that's a good one too, because you know, it's nice. The police they shut it down, and uh it's only for I don't know, a couple hours or whatever. But it's cool. And the people who live on the street get on get into the spirit and like decorate their houses and houses, if you're in that closed zone, you know, you're kind of expected to do something if you're gonna be a part of it and live on that street.

Andrew Doud 2:52

If you're a real estate agent, you're selling on that street. Are you like, listen, so the house is this, this is this thing.

SPEAKER_00 2:56

But listen, you know, if you're going to buy here, like is that part of the disclosure that you're like, I I mean, listen, I I I went on Amazon, I went to Barney's, I went to all the high-end fashion places and looked for what was a real estate salesperson's uh costume, and I didn't find anything. Um so therefore I just dressed appropriately as uh smart casual. Nice.

Dave Rattiner 3:21

Yeah, what I want to talk about the market because it seems like just so busy, John. Like the marketing team normally during uh election year it seems it's it's quiet. Like normally it's like everyone complains and they blame it on the election, but it does not feel quiet right now.

SPEAKER_00 3:37

No, and and months ago, I think, or whenever I was on last, we did briefly touch on the fact that the election was coming up. And this is my eighth, seventh, or eighth election uh in my time selling real estate out here. And normally in the past, it's it's been a quiet time. There's a lot of um, you know, obviously reservation to to spend uh a good amount of money for a really smart investment. Um and we talked briefly earlier on the fact that I think the amount of wealth that's been amassed in the last decade uh from much exponential stocks and Bitcoin and all that? You know, you you've got small business, you've got entrepreneurs, you've got startup business, you've got Bitcoin, you've got uh all sorts of um environmental companies that have started up. Look, we didn't have uh a decade ago how many electric cars were there and things like that. So you have new business, but you have uh people making a great deal amount of money, um whether it be on the sidelines or or invested, and I think that's not gonna change going forward. But what really what's important about that is that for investments, um it you know, if they find the right house today, um they buy it. You know, if it's if it's the right fit, we already know and we've proven that real estate in the Hamptons is a good investment. Whether you started 50 years ago or 10 years ago, um you do have some blips that come along, like 08, but in general, if you hang in there, it's like uh it's like anything. It's a long-term real estate's a long game. It's a long game. It's for some people they can do well short game. Sure. It is a game that's usually successful. And um so I I think that when the opportunity comes up, the right house, the right piece of land, whatever, there's people out there ready to go and buy it. And I do think a lot of the money is on the sidelines, kind of waiting for good investments. It could be another company, a startup company they want to invest in or something. But I just think that the the wealth is there to infuse into good investments, and real estate here is an excellent investment.

Steve Glick 5:50

So this is good news. This is good news as we come into election day on Tuesday. Um, you know, so far the numbers has been the data has been great uh leading up to election day. We'll see what happens um next week, but it's all signs point that it's it's gonna be quite all right, you know, with um in the market. What are the market numbers?

SPEAKER_00 6:11

I was gonna touch on something too. You know, we talked a little bit about in the last six months we talked about high interest rates, and then the interest rates got knocked down a little bit and so on. You know, the Fed has has little to do with you know our political environment, really. Um their job is is is a supposed to be a job about fiduciary um and and I and I think that's supposed to be separated from politics, whether whether whoever wins uh on Tuesday, what the results are. Um I think that um sure it's gonna affect economies no matter what, because of policy. But I don't think you know the Hamptons, again, we are that bubble. Uh we'll go through maybe a rough patch or something will change and adjust. But at the end of the day, um, and you'll you'll see my little uh brochure come out uh Thanksgiving time. The end of the day, the summers out here are just so spectacular that it seems like sometimes you know people forget about everything else. It's unbeatable.

Dave Rattiner 7:11

The summer's unbeatable.

SPEAKER_00 7:12

And so that is what people remember when they leave, and and and and it's like, hey, we want to be there, whether it's renting or buying, they want to be here.

Dave Rattiner 7:20

You know, you just you just like triggered a memory in my mind too. Like, you know, you you ride out the winter, and you know, you even ride out April, and then May comes along, and then there's just like this one day where you're driving down Main Street in either Southampton or East Hampton or West Hampton Beach, whatever, and it's just it's like a movie set, you know, it's just so beautiful, the weather's so perfect, the air is like sweet, you know. There's like little ice cream shops, and then you go to the beach, and it's just like this overwhelming view, and just everything's just perfect. And that's the Hamptons. You get that you get that one moment, and you're just like, oh my god, I gotta live here, you know. That's what happens.

SPEAKER_00 8:03

If you noticed, and I know you guys all probably did, but it this fall in particular, it's been very dry. We haven't had a lot of rain at all the last month, and I think because of that, the leaves have held up in most of the trees. A lot of the trees still are fully loaded with leaves, but they were able to turn color.

Andrew Doud 8:24

And not just.

SPEAKER_00 8:33

I mean, we we you didn't have to go north to go see fall foliage. You went through streets here. Wireless Way is one where when they obviously built it, they lined the street very, very uniformly. And a week and a half ago, two weeks ago, it was all orange and and burnt, and it was beautiful. And I I do think that um this year, you know, if you notice too, we have a lot more acorns than we've ever had in the last most of the time.

Dave Rattiner 8:58

My truck keeps getting hit with acorns.

SPEAKER_00 9:00

And what they say about that is that that's a colder winter, and the acorns are there so that the animals can have acorns to store to get through the winter. Like a farmer's almanac kind of thing. I don't know if it's farmer's almanac, but I mean I just said it, so it's gotta be. That's true.

Dave Rattiner 9:15

I read it on the internet.

SPEAKER_00 9:18

Hey, I'm a real estate agent, it's gotta be right, right? That sounds great.

Andrew Doud 9:21

That's fine. I mean, we'll see, I guess. Um so all right, so let's talk about the numbers. What do we got as far as the the well-performing market?

unknown 9:31

All right.

Steve Glick 9:31

Performed really well this past week.

Andrew Doud 9:35

I gotta get a video of you doing it. I got a good video of you guys, don't worry.

Steve Glick 9:39

Here we go. Here's Mario's take on the market for this week.

Andrew Doud 9:43

Go to Dave's Instagram for the for the full video.

Steve Glick 9:45

October 22nd. So over the past week, there were 27 listings that went into contract from West Hampton the Montauk. Compared to the same week last year, there were 20 listings, so we're looking at an increase of 35%. Two years ago in 2022, there were 23 listings, so we're looking at an increase of 17%. The breakdown of the 27 transactions this week, there was one between 10 and 15 million, six between five and ten million, four between three and five, six between two and three, seven between one and two, and three under a million. The dollar volume this past week was $102 million. Last year it was $56 million. So we're looking at a big increase of 82% in dollar volume change year over year. Two years ago, the dollar volume was $68 million. That's an increase of 50%. New listings coming onto the market. There were 26 new listings coming onto the market. So that just decreases the inventory by just one listing. But the breakdown of the 26 new listings, there were seven between five and ten million, seven between three and five, three between two and three, eight between one and two, and one under a million. The inventory stands at two thousand thirty total listings with 1,518 active and 512 in contract. There you go.

SPEAKER_00 10:54

That's you need to have some of that music with it. Oh, there you go.

Dave Rattiner 11:04

All right, I'm putting this on the song.

Andrew Doud 11:06

It's helpful to have the computer in front of me. Um that's awesome. So uh another good week.

Steve Glick 11:12

As I could as you could see, I mean, we're we're seeing this week over week, and all these are now going to close in the first quarter, right? So we're gonna see a strong first quarter um numbers because a lot of things have been going into contract in the end of the third um and early fourth quarter, and those will um close three to you know, three to five months later.

SPEAKER_00 11:31

Uh Steve, I do think also remember this time of year, a lot of people push their closings to the new year for tax reasons. Yeah. So I think you'll see the numbers in the first three weeks of January will really will really come through looking strong, which is a nice start to a year when you can carry forward some of that that that good.

Steve Glick 11:56

Uh we're we're just feeling good out here in the Hamptons today. That's good. Luigi. Well, you know what it is. You know what I mean?

Dave Rattiner 12:04

I'll tell you what I like about this market is that it's not just busy on the buy side. Like during uh the hot years of COVID, it was just like everybody was buying stuff and no one was selling stuff, you know. It was like we're running out of things to sell. What I like about this market is things are coming on, things are coming on, and then there's buyers for them. You know, there's it's a it's a little bit more fun, there's a lot more action going on. So much fun. So what's going on? Yeah, yeah. That's my that's my spiel. All right, so this well, we kind of touched on it, so we John John's making me laugh. All right, so we got we got uh on Elm Street, we got trick-or-treating this weekend. That's tonight, right? Yes, tonight at six o'clock. And also Cooper's Cooper's Cooper's Lane. Also on Cooper's Lane. Then we got let's see. Farmstead Lane. Farmstead Lane also? Yeah, Farmstead Lane. Oh, so I didn't know that. Oh, the only one I know about is at the end of Cooks. Okay. Cook's Lane? At the end of Cook's Lane. All right, I got it. In the Hamptons. All right, I got it. And then so November 2nd, if you want to go to a cool Halloween party, Calissa's in Watermill is gonna have one. Uh that's from 7 to 10. You can dance the night away with a DJ, and you have to show up in your best costume, obviously. And there will be a complimentary champagne for this particular event. So that sounds fun. I'm a little Halloweened out, to be honest with you, but I'm I'm I'm rallying for the actual day of Halloween right now. You're dressed up for it. Yeah, and then a little anti-Halloween is uh there's a sip and savor wine pairing dinner at the Check It In on the Shelter Island. Uh, they're gonna be doing a wine pairing vineyard uh dinner with wine from the North Fork. So the cost is $95 a person for that. And one of the highlights, vineyards on this is gonna be Peconic Bay Vineyards on Shelter Island. That's starts at six, runs the whole night. And then typically, John, I mean, that's kind of it for this weekend. It's kind of hold on, correction.

SPEAKER_00 14:13

Farmstead Lane is at the end of Blank Lane, not Cook's blank lane off of Scott off of uh Scuttlehole Road.

Dave Rattiner 14:19

Yeah, blank lane. That's a weird name for a street. Couldn't figure it out, yeah. The guy's like, I'm drawing it, I'm drawing a blank. And they're like, That's sold. I think I think he bought it with a blank check. Ah, there you go.

SPEAKER_00 14:33

There you go. I believe it because John said it.

Dave Rattiner 14:37

So then what I like to do is I like to ask the guest what their favorite restaurant is. So or you can bring up a few of them.

SPEAKER_00 14:46

Ooh, that's that's become tough because my my favorite restaurant, it probably still is. I just had a couple of not great experiences there, but Bell and Anchor is probably one of my favorites because it's the most consistent restaurant I found for really good food. There are others, and it's easy over there, right? I gotta get over there. You're talking about it. It's a great scene, it's a great atmosphere. I just, you know, there's like a lounge area. So I do like rare also over in um near Hampton Bays over in Southampton. Oh, so this is a hidden one. This is the hidden one.

Dave Rattiner 15:34

This is a total hidden one that you like.

SPEAKER_00 15:35

If you like it a lot, it's a steak. It's over at the the Hampton Maid. Hampton Maid, yeah. Um and uh the the the the chef proprietor is from Spain.

Dave Rattiner 15:44

That's like a destination, right? It's really a kind of out of the way.

SPEAKER_00 15:46

And you got to plan ahead if you're coming from the east because the traffic, you know, is bad, trying to get there at 6 30 or whatever, but it's well worth it. It's a lot of toppas food, and I will say that the the the taste and and flavors and stuff are phenomenal. So it's it's definitely worth the ride. And I made all sorts of things.

Dave Rattiner 16:04

I think I might go there this weekend. You're right about Bell and Anchor and look at the menu.

SPEAKER_00 16:07

I mean, I've never had a problem having the time on the spot. And it's a good winter shop, so it's a good winter spot. It's a standout for sure, and that's that's one of their best dishes. Some clam chowder.

Dave Rattiner 16:15

Chow. I like how the menus does super high-end stuff, but then anytime a high-end restaurant has a burger in the in the $20 range, it really makes me happy.

SPEAKER_00 16:25

Dave and Steve, I got a question. What's your favorite place for pizza?

Dave Rattiner 16:31

Oh, we're definitely gonna get pizza today.

SPEAKER_00 16:33

I'm gonna uh you know, my favorite place I have yeah, so let's do a Port Nois East.

Steve Glick 16:37

So Mario's uh favorite place for pizza is um Finney Finney Pizza and Amiganset. Really? Finny is it's just something.

SPEAKER_00 16:46

So I think you guys should go and start at Amigansett and each get a slice.

Steve Glick 16:50

Special slice, man.

SPEAKER_00 16:51

Or share a slice all the way back to the to the office. It's like New York.

Steve Glick 16:55

It's it's look, it's Finney Pizza and La Parm, La Parmigiana in uh Southampton.

SPEAKER_00 17:01

La Campanina's not even in there? Really?

unknown 17:04

Wow.

Steve Glick 17:05

I know the haters out there, but I don't know what's in my top two.

Dave Rattiner 17:09

So I like when I get pizza, I like going to a place that isn't like I like I really like just like low, like like the the place is beat up a little bit, and the guy's been there forever and he's mad. You know, part of that you like dirty pizza. Part of that is why I like like like cappellinas, that's one of the appeals for me. And America, an American pie in Bridgehampton. I think it's great. A lot of people don't like the thick dough.

Steve Glick 17:34

I don't I don't like it. I like the dough.

Dave Rattiner 17:36

Finney La Parm and then uh I like getting filled with SAG Pizza. I like I like having one slice on pizza. How many?

SPEAKER_00 17:42

So how many what do we have? One? We have about six places. There's a lot to go to page. You guys should use it between Amigans and here. Yeah and let's get both of your SAG Harbor.

Dave Rattiner 17:52

Sag Harbor needs a uh a pizza place. Not like the pizza place, it's more of a restaurant.

SPEAKER_00 17:56

Share one slice that's six slice. Come on. You guys can do that for lunch. Do that for us.

Dave Rattiner 18:01

It's gonna make a funny video. It's gonna make a funny video.

Andrew Doud 18:04

Sorry, so you got your plan for lunch. There you go. Martin's 1030. I'm ready to get it.

SPEAKER_00 18:10

Um spooky music music on? Is that what I hear?

Andrew Doud 18:14

Oh no, that was that was a fire truck. Oh, yeah, I think that was an ambulance or something. All right. Uh I'm actually planning out my shoot for this afternoon. Anyway, um, all right. Good deal. We'll keep it short and sweet. Although it was 18 minutes. It's a pretty standard podcast. Thanks for coming on. We'll have you back again. Thanks for having me on. Let's chat maybe after the election and see how things are. And then we'll get the pizza results, too. And we'll get the pizza results. Yeah. Something to look forward to in November. All right, everybody. Have a great Halloween. Have a great weekend. I'm Andrew Dowd, and that's what's happening with the