Andrew Doud 0:08

All right everyone, it's Thursday. I'm Manager Dowd. 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 today by New York Title Abstract, the Hamptons leading title insurance firm. Visit NewYorkTitle.com. We have Steve Glick, Dave Retiner, and a return guest, a personal favorite, my wife Sarah Dowd. How are you? Good to have you back on.

SPEAKER_01 0:32

I just love the introduction every time it gets better.

Andrew Doud 0:33

I gotta I gotta come up with a different way to I like coming on the show, so yeah.

SPEAKER_01 0:37

We're gonna have to keep getting creative here.

Andrew Doud 0:39

Well, this is um, you know, we talk about the podcast. Uh we've been doing this is episode 186 or something.

Steve Glick 0:46

We're coming up on 200, we're coming up on 200, yeah.

Andrew Doud 0:49

And you you've had people reach out to you.

SPEAKER_01 0:51

Oh, is it an incredible?

Andrew Doud 0:52

And they're like, I've had I've heard you on the podcast. Let's talk real estate.

SPEAKER_01 0:56

It's an incredible tool, and I think our listeners really appreciate what we do, and uh I think there's a lot of knowledge here that's very helpful for people uh wanting to know more about the Hamptons real estate market. So we're here to help.

Andrew Doud 1:06

So what do you want to talk about today? Um you I know you've been busy because I uh when I'm not working in marketing at Saunders, I'm wrangling the kids so that you can do real estate. Um I know you I know you're busy, yeah.

SPEAKER_01 1:20

It's 24-7 for sure. Yeah, uh if you want to do this job right. So um we do as much as we can. But I think the big topic is the election. Um a lot of people, the market was super on fire for me. Um, everything was kind of prior previously, previously. So positioned right, marketed right, um, priced right, uh, offers the first day, the first two weeks, contracts out, multiple offers, off-market deals moving, a lot of good, healthy uh real estate movement. And then I would say in the last month, things just got maybe a pinch quiet. I think a lot of people took a pause, I want to call it, and just kind of were waiting to see um what was gonna happen. And now with that behind us, I think I'm expecting things to kind of um continue to shuffle forward here. Of course, a little slowdown with the holidays is natural, but um I expect the market to continue with that healthy uh movement.

Andrew Doud 2:13

Well, speaking from a marketing standpoint, I mean, I would say that this has probably been one of my busier fall seasons from you know, like I for you. I do all the videos, right? Yeah, and like everything always picks up a little bit in September when you know agents are like, hey, I I need to get this done or shot before the leaves change or the pools close or what have you.

Dave Rattiner 2:32

But like just in general, like there has not been a day of the week that I've been able to just like what happened to you, in my opinion, is videos went from property videos went from a special thing to just normal.

SPEAKER_01 2:45

I expect for sure.

Dave Rattiner 2:47

So all 300 of our listings and even our exclusive rentals, they're they're calling you up for property videos, you know what I mean?

Steve Glick 2:52

Well, we've seen a property boom the past two months of listings coming onto the market. You know, the inventory's been wild, you know, it's been coming on, people the summer has ended, and then that's where the boom came in. And I'm sure Sarah, you experienced that. You were really busy. And then, of course, leading up to the election the week before, people just want to just wait and see, watch the news. Uh, the good news is that the election's over. We have a clear winner, and now we can move forward and pass that. And we're still in the selling season, like you said. Like we're we're gonna continue on all the way through, you know, the holiday season. So we still have like a month into our selling season where it's busy and the weather, it's big.

SPEAKER_01 3:30

And a lot of people ask, you know, should I hold out and list in the spring? Should I list now? I always encourage people to list. Um, which is great if we can have 70 degree weather like we have now and still get incredible footage and videos and and photos. Um, but there's there's a buying season, I feel, year-round. Um there it might be busier in the spring and there might be more buyers out, but that doesn't mean the right buyer isn't here now. So I always encourage people to um, if you're ready as a seller, get it out and absolutely transactions happen.

Steve Glick 3:59

You know, people think, oh, well, you know, December and January, nothing happens. No, there's there's deals to be made. People are still buying and selling homes. Don't think it just falls off a cliff. Um, certainly it's it's a little bit lower than in the in the selling season, but there's still opportunities out there.

SPEAKER_01 4:14

And from a buyer perspective, I think you should keep moving. You should keep you know your eye on the market now as much as you should in the spring.

Steve Glick 4:20

People always try to time the market, but it's just whatever works for you. If you're ready to transact and there's a home that you like, it's advice to give anybody, whatever works for them. Don't try to wait and time it out and figure out the best month or best time to list your buy or sell. Whatever works for you is the best time.

Andrew Doud 4:36

Didn't you have somebody go out on like New Year's Day?

SPEAKER_01 4:38

Yeah, in a snowstorm. It was uh kind of the the time of the bidding wars, and there was a snowstorm happening on a Friday, and it just came on, and it was in that lower under million price point where it was very competitive. And we looked at each other and said, Well, we have to go now. Yeah. And we had um the inspection done before the snow melted and before everyone kind of woke up and stepped away from their cozy fires and got out there looking. So crazy. Yeah. I mean, you you had to be super aggressive in that in that moment.

Andrew Doud 5:06

That was a different market. That was a couple years ago and everything. But um, so all right, so let's talk about this market currently. So uh you you had you mentioned one listing, you know, that that went in the contract in a week, I think, or less.

SPEAKER_01 5:18

I mean the first day we got an offer, but we held out for you know a week just to get everybody through and then you know decided that was the work with.

Andrew Doud 5:25

Yeah, good for you. Um so so what what is your message to sellers then? I mean, is it you have more inventory coming on, so it's not like you can just price it wherever you want and you're gonna get what that is. Um, what are you telling sellers as far as pricing or maybe staging or renovations, or like what is your message to them as far as how to properly list their their property and and be competitive in this current market?

SPEAKER_01 5:49

I think price is king. Um, you really need to come out of the gate with an accurate price because if you're overpriced, you really just get overlooked. Buyers are very savvy, they have a lot of tools, they have a lot of great agents working with them. Um, and the houses that I see moving the most effectively are the ones that are priced correctly and in the zone out of the gate. And so the pricing, I think, price coaching from the list agent is is number one. And then exceptional marketing, I think, is really important. It has to be videos, it has to be podcasts, it has to be social media, um, all of those things, I think. And the agent-to-agent network are extremely important.

Andrew Doud 6:25

You have a very good social media presence, which I think a lot of people think that I it's kind of fun.

SPEAKER_01 6:30

I enjoy it. It's kind of funny. You do.

Dave Rattiner 6:31

You will people are like, oh, I like I don't know why I like doing my I don't have no reason to do my personal social media. I think it's fun.

Andrew Doud 6:37

No, it's she makes it part of her job, and it's and even though I'm the video guy, I actually I don't edit her stuff at all because she basically did we did the same job before we got into real estate. We were both you know TV reporters, so we have like an editing background, but uh, she handles our own stuff, shoots it, edits it. I think you got a great uh podcast highlights will be on later.

SPEAKER_01 6:57

I mean, it's fun, it's it keeps the conversation going, it keeps something interesting to look at, and yeah, um work comes from it.

Andrew Doud 7:03

So speaking of things to look at, I'm always looking for good transitions. You have you noticed that? Right. Speaking of things to look at, you have two really solid listings 55 Wikituck Drive in Sag Harbor, which is let's just start there.

SPEAKER_01 7:16

This one, I love this house because when you talk about location being everything, this is 900 feet to your feet in the sand at the Bay Beach there, Long Beach. Um the price is 1,049,000. It's a two-bedroom, one bath. It is move-in ready, it is well cared for. Location is amazing. You've got the village right there, you've got the serene green farm stand, grab a cappuccino, you know, just down the street. Um, and then of course the beach makes it really exceptional. Um you really can't be the quality of the house, the price, and the location if you're looking to be in Sack Harbor. And for those three things, this is the house across the board.

Andrew Doud 7:57

If you looked at all the available inventory, but if you looked at it from I mean, it's a great little little beach house, right? You just say you want a place to come out, easy living in the summer, good location, that's great. But if somebody was like, I might want to rent it, what's the rentability of somebody?

SPEAKER_01 8:10

Well, it has a great solid rental history um with higher numbers than even some bigger houses in the area. Um, I think 40,000 was the mark for just the season. Uh last year, we got 5,500 for a year round at one time. This is a client of yours. Yeah, this is somebody sold the house and then rented it successfully um for I think it was two years or so. Um so it's got a great rental history. And then also speaking of the cute little beach house, there are some plans that were designed. They're not approved, but they're designed and ready to be, you know, submitted for expansion and for a pool. So if someone if someone has you know ideas of doing something bigger, this is again a great option to consider.

Andrew Doud 8:47

I mean, they had a million dollars.

SPEAKER_01 8:49

It's like a million dollars.

Andrew Doud 8:53

Um never mind that like seven years ago, I think in that area you probably could have gotten something for like six or seven hundred, but it's like even a little higher than that. But it's like it's it's a great example of um how the market's gonna continue to be able to do that. I always say um Hampton Bay's, uh an area that is certainly near and dear to us. This is where we call home, but uh 10 Bittersweet Avenue South, this is another move-in-ready, um, good location pool, kind of it checks all the boxes. So tell us about this house.

SPEAKER_01 9:26

For the buyer who you know has roughly a million to spend but wants more than what we just described, you kind of shift out your areas a little bit, and Hampton Base becomes an excellent choice. And so here you can get at 10 Bittersweet Avenue South, you can get a move-in-ready house that already has the pool that has amazing oversized hydrangeas just surrounding the property. Um, opportunity for expansion in the basement. It's a three bedroom, two bath, you have a garage, it's a dead end street. You really I call it have it all in Hampton Bay's because essentially you're checking a lot of boxes.

Dave Rattiner 9:58

I cannot believe this is under a million bucks. Right.

SPEAKER_01 10:00

So you're checking all the boxes that buyers usually look for, and so it should really stand out and jump off the page when people are looking.

Andrew Doud 10:08

So those are some really good options. Um, let's look big picture with the numbers, Mr. Glick. Sure. What have we seen across the Hamptons?

Steve Glick 10:19

All right. So we're coming into this was the last week of October. So we're looking at uh the past week there were 33 listings that went into contract from West Hampton to Montauk last year. There were 23. That's a year-over-year increase of 43%. When we go back two years ago, there were 24 listings, so we're looking at an increase of 38%. So certainly as we talk about how busy the market was, it shows over the past two years we're looking at increases year over year. The breakdown of the 33 transactions, there is one between 15 and 20 million, one between 10 and 15, one between uh 5 and 10, 4 between 3 and 5, 7 between 2 and 3, 13 between 1 and 2, and there were six deals that went into contract under a million. The dollar volume out of those 33 transactions was$94 million. Last year it was$78 million, so another increase of 21%. Two years ago, the dollar volume in one week was$54 million. So we're looking at an increase there of 74%. New listings coming on, it was a little bit lower than the past two weeks. There were 24 new listings that came on. So with 33 going into contract, that decreases the inventory by nine listings. Still a lot of inventory though coming on. The 24 new listings, there was one over 20 million, one between 10 and 20, three between five and ten, six between three and five, five between two and three, six between one and two, and two under a million. The inventory stands at two thousand sixty-nine total listings with fifteen hundred and twenty-four active and five hundred and forty-five currently in contract. So another good week of seeing increases in um in contracts and dollar volume and a slight decrease in new listings coming on. That could just be due to um the timing of the election season. Yeah. But now that's over. We'll see what happens next week as these listings continue to come onto the market and then inventory still creeps up.

Andrew Doud 12:10

That's that was solid. That is like you got it down to a style, you know. That's the analysis.

Dave Rattiner 12:16

It's like rapping, just spitting spitting numbers.

Andrew Doud 12:20

Yeah. Um, so Dave, what do you got going on this weekend?

Dave Rattiner 12:25

I'm going to go. I'm going to Las Vegas. I'm going to Las Vegas in my life this weekend.

Andrew Doud 12:29

No, you're not. Are you really? It's going to Vegas.

Steve Glick 12:32

Yeah, it's to go see the rock.

Dave Rattiner 12:34

But literally two days. But if you want to do something this weekend in the Hamptons, first of all, can I just say I want to give a shout out to PC Richards?

Andrew Doud 12:44

Okay. Odd.

Dave Rattiner 12:45

Go on. So this morning or yesterday, my washing machine broke. And it was like a real problem. And I needed to get one like immediately. And I never really trusted PC Richards. You know, to me, that's just like a crazy store.

Andrew Doud 13:00

This is not a paid endorsement, by the way.

Dave Rattiner 13:02

No, it's not paid at all. And but I was I was gonna like go to Home Depot and buy one, and and someone told me that they like install it for you. So I called PC Richards, I bought a washing machine over the phone via credit card, and the next day, which was this morning, two guys showed up at my house, got rid of the old one, and installed a new one, and it would have been just as much money if I had tried to do it myself. I think it would have been I think it was a little bit less money, actually. So we did our kitchen from there as well. PC Richards, man, like small business, you know what I mean? Like good that they came to the body. That's like a long island, like thank God for those guys. Like I I tipped the guy, you know. I was like, it was such a relief, and all I had to do was whistle.

Andrew Doud 13:48

Oh my god.

Dave Rattiner 13:49

You're not a paid endorsement.

Andrew Doud 13:52

Terrible dad jokes.

Dave Rattiner 13:54

That's a complete real story. Anyway, well, so do you want to talk about your thing?

SPEAKER_01 13:59

Well, yeah, I have happening in the Hampton event that's a good thing. Yeah, talk about that first. So November 19th. Um, so we are, I grew up out east here, um, and I am raising my family in Hampton Bays, as we know. Um, so Hampton Bays has become near and dear to my heart as as we grow there. And uh there is an interesting thing happening um that I think a lot of people should be paying attention to, especially from a real estate perspective, as that town continues to reach new heights and and grow in market values and all of that. But all that being said, on November 19th at Canoe Place, uh, which you haven't been there, you should come just to check that out in itself. Uh, there's a free event that the Chamber of Commerce is hosting. And as a guest, we will have the developer Alfred Cayola, who has owns land there and is um brainstorming and um hoping to achieve uh building kind of an extension to Main Street. And I don't know all the particulars about it. And again, if you want to know more, come to this free event, ask all your questions, um, see the designs, uh, raise concerns, you know, brainstorm. And I think that's the point of it. It's kind of like a listening tour to um see what you like, see what you don't like, give feedback. Um and the idea is to have it be pedestrian-friendly, shops, restaurants, open up the park, you know, make some great spaces for possibly live music, you know, things like that.

Andrew Doud 15:21

This particular pattern connects effects effectively is like right between Main Street, you know, the highway and a beautiful park that hasn't been built north of there.

SPEAKER_01 15:30

Right. So there's this empty space in between that uh this developer wants to build um dime. So wow, really um you know something I think worth listening to. And we hope to get him on the podcast at some point to uh hear more from him. But um you know, it's it's a chamber members uh and their guests event. So if you do have any interest in this, I just say um RSVP to me. You can find me on Instagram or my cell is on the Saunders website. Um you know, Sarah Dowd Real Estate is the Instagram, but just so they can get a catering count is kind of why they're asking for RSVPs. But I think it's if you don't know about it already, it's something big that's kind of happening in town.

Andrew Doud 16:12

And um you look at town C CPI, Canoe Place In, which was which sat abandoned for a long time and was effectively falling into the ground, you know, and then you know you talk about the redevelopment that was that's been restored, refurbished, beautiful, it's beautiful, like resurrected basically, and it's a it's an amazing uh first impression as you come into Hampton Bays from the east heading west. So um, you know, I I think there's a lot of great restaurants. We've always talked about this in the podcast in Hampton Bays. Um, and downtown has a lot to offer, the the downtown Main Street Hamlet.

SPEAKER_01 16:46

Uh there's sponsors beautification and historic, you know, revitalization that have happened and the efforts have been there, but it needs kind of just this extra push to unite it all.

Dave Rattiner 16:57

Oh, yeah. It's definitely gonna happen.

SPEAKER_01 16:59

Seems like an opportunity to me.

Andrew Doud 17:01

I see Hampton Bay's as like an up and coming like West Hampton Beach or like Montauk or Sag Harbor.

SPEAKER_01 17:10

Yeah over time.

Andrew Doud 17:11

Oh yeah. So that's November 19th. Um yes.

Dave Rattiner 17:14

I mean, sticking with the Hampton Bay's theme. Have you guys heard of this restaurant Rare or It's like Rare Air?

Andrew Doud 17:22

Rare Air.

Dave Rattiner 17:22

Rare Air, Rare.

Andrew Doud 17:24

Rare Sounds awesome. Is it rare?

Dave Rattiner 17:26

I've never been I've never been there. I've heard uh I'm trying to think another real estate agent recommended it to me. John. John, that's right, John Hilly. Yeah, yeah. So, but anyway, they have uh they're hosting a legendary Spanish wine dinner with Tempos Vegas Sicilia. So it's an exclusive dinner feating the wine featuring the Spanish winery, and uh the owner's gonna be there, and it's just like a whole winemaking uh it's like a whole wine dinner feating this featuring this wine, and you know, you got this menu that's dedicated to this specific uh vineyard, you got uh lamb tenderloin, oxtail, sunchoke. Jesus, man, this looks good. Anyway, it's uh it's$195 a person, and this is like a super high-end, beautiful restaurant uh right on the border of Hampton Bay's, right? It's like right now.

SPEAKER_01 18:16

Yeah, it says you're heading the entry.

Dave Rattiner 18:18

It's awesome.

Andrew Doud 18:19

It's actually down the street from CPI.

Dave Rattiner 18:20

So if you're coming from the east and heading west, it's like there's this, and then you come across the canal, and then there's CPI, and it's like it's a great speaking of CPI, they have Fireside Fridays featuring live acoustic music. Have you ever been to that?

SPEAKER_01 18:34

No, but I have we blame that on two young children and ballet and uh very rigorous schedule. But if if we didn't, then we wouldn't be awesome.

Dave Rattiner 18:44

It's family friendly, it's family friendly. They have hot cider and rich hot chocolate and s'mores and also warm craft cocktails.

SPEAKER_01 18:52

You know, I think that's one of the things that makes Hampton Bayes thrive, is the year-round um active community because the restaurants restaurants, oh my god, the Spanish restaurant is so good, and they don't just kind of like shut down and become this sleepy, um, sleepy little village.

Dave Rattiner 19:08

To me, Hampton Bay is it's it's like just the food is incredible. I'm gonna move there. Yeah, it's incredible.

Steve Glick 19:14

I bittersweet.

Dave Rattiner 19:15

It looks like a great sweet property, man. That's a perfect one. Then we'll come over to your house for the pool. You just saw me. I saw my wife, man.

Steve Glick 19:22

You know, that's this podcast, send this podcast to your wife.

Dave Rattiner 19:26

You know. Um, and then that in springs, you got the Springs Food Pantry chowda, chowdown. Chowdhair.

Andrew Doud 19:33

Yeah, I gotta say with the chowdah. Chowder.

Dave Rattiner 19:36

Chowdh. The red or the white? Is there a difference in how you're never remember that.

Andrew Doud 19:42

One's New England clam chowder. That's white, right? And then what's the other one? Manhattan clam chowder, right? I'm New England on the one with LP.

Dave Rattiner 19:51

I don't know what to tell you. All right, so it's at the Springs Fireplace House. It's from 12 p.m. to 3 p.m. And they got New England clam, they got Manhattan clam, they got crab and corn, they got fish chowder. I'm getting hungry, man. It's gonna be good.

Steve Glick 20:06

On the food this weekend.

Dave Rattiner 20:07

How do you go wrong? And it's for a good cause. You know, the food pantry is a real thing, you know, especially in the wintertime. Like, you know, some people really can't afford real meals. You know what I mean? Well, we might want to plug too. Only so many nights, you know, you can you can just do like uh you know super cheap meals. It's like these they have really unbelievable food and a lot of families going on.

Steve Glick 20:26

Why don't you talk about the uh donation drive we have going on, David? Yeah, the saunters drive.

Dave Rattiner 20:28

Yeah, we got the Saunter's donation, uh the Saunter's Thanksgiving donation drive. Um that's running right now. If you go to Sauners.com. Yep, right on right on the link. Um, and you can donate, and we donate thousands of dollars every year to all the different food pantries.

SPEAKER_01 20:42

How many years has that been going now? Over 10.

Steve Glick 20:44

This is yeah, this is our 11th year. So in years past, we used to do the food drive, right? Where people used to drop off canned foods and and and you know goods and stuff like that that we would literally hand deliver to all the food pantries. And then um during the COVID years, we found out um A, it was a lot harder for people to you know drop things off and to travel. So they said, hey, look, you know, money is always best, right? And then the food pantries explained to us that they use the money and they buy it in bulk. So even though you're dropping off cans of food, if they have the monies, they're able to source it. Yeah, it's better, yeah, it's more effective uh, you know, to give money.

Andrew Doud 21:20

So they can buy fresh, fresh things. Yeah, gotcha.

Steve Glick 21:23

And so it's powerful. You look at helping locals. So we started the GoFundMe page, um, and we send it out through you know Hamptons.com, happening to Hamptons on our website, on our social media. We do it for the entire month, and we encourage everyone to donate all that money dollar for dollar, goes to the local food pantries. So we take whatever we get, uh, we divide it up amongst, you know, there's like a dozen or so that we contribute to. We try to make sure we catch one in each town from you know West Hampton all the way out to Montauk and we deliver checks.

Dave Rattiner 21:53

I popped my head in there during Thanksgiving when I lived in Springs, and um it was powerful. Like you said, there's a lot of People that don't have families out here. You know, they're just here for work. They're just here for work. You know what I mean? Need is big out here. It's not just for Thanksgiving.

Steve Glick 22:09

It's it's year-round. You know, obviously we we promote it hard during the Thanksgiving season because no one should be without an a hot or a nice Thanksgiving meal, but it's something that is needed throughout the whole entire year. So, you know, the monies that we provide them um helps throughout the whole year. So if you have an opportunity or want to make a small donation any size, just go to saunders.com, click on the link, and make a donation. We appreciate it appreciate it. Yeah, we're at$3,400 already. Yeah. So we just launched it uh this week. So we we got a ways to go to reach our goal, but we'll get there. That's all right.

Andrew Doud 22:40

We got time. Um Dave, what else you got?

Dave Rattiner 22:44

Uh one more thing. We got the candlelight Fridays at Wolfur that just started up, so you can go to Wolfer. Same concept, I guess, as CPI, but it's at Wolfer. And you go in the tasting room inside, and then you have um wine and candlelight, and it's dark, and they got music playing.

Steve Glick 23:01

Sara, you I'm sure you have open houses or showings. You have a lot going on at these properties this weekend.

SPEAKER_01 23:05

The weekends are always busy, so the uh open houses are already posted. Uh you can find them on all the platforms online, and I hopefully we'll get to see everyone this weekend.

Andrew Doud 23:14

Awesome. And we have to go into the city on Sunday.

SPEAKER_01 23:18

There may be a Rocket show on the schedule.

Steve Glick 23:21

Ooh, can't wait.

SPEAKER_01 23:22

For the kids.

Steve Glick 23:22

Kicking off the holiday season early. There you go. Is your Christmas tree up already?

Andrew Doud 23:26

No. Come on. No. That's next week. Um, all right. That's great. There it's for joining us. We'll have you back on again soon. Dave, Steve, thank you. Everybody, thanks for listening. That's it. That's Thursday. That's our podcast. I'm Andrew Down. That's what's happening in the Hamptons.