Andrew Doud 0:08

Alright everyone, it's Thursday. I'm Andrew Dow. 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 are back in the studio today. We did our first live one last week, which is very cool. Yep. Live on Instagram, remote location. Today we're back in the marketing building with Steve Glick, Dave Retiner, and today, my better half, Miss Sarah Dowd. How are you?

SPEAKER_01 0:38

Wonderful. It finally feels like summer in the Hamptons. I know.

Andrew Doud 0:42

Good to have you back on. You're always busy. I know this because I'm left with the kids while you're at work. So but so tell us what uh tell everybody else what's going on. I know what's going on, but uh, you've been very busy. Got a couple great listings that are on the market, have just come on the market, are going to be coming on the market. We'll get to all that and talk rentals, but where do you want to start?

SPEAKER_01 1:04

I think uh talking about the beach, we should start at 83 Foster, and that's in Hampton Bay's. It is one of my favorites because it's about a mile to the ocean waves crashing at your feet. Uh, the location is superb. You have kind of this beach village vibe going on because there's a lot to get to around you, a lot of new very hip restaurants that have just opened or opened last season that bring a big draw. So uh Hampton Coffee just opened around the corner. So a lot to do. Um so if you're looking for a property that gives a lot of beach energy and um rental potential or even flip potential, this is under a million bucks. It's uh it's 950 and 950,000. It's six bedrooms and two bathrooms. So to get that bedroom count at that price, a mile to the ocean, show me something better.

Steve Glick 1:48

That's incredible. We were looking at this listing yesterday and we pulled it up. Six bedrooms. I was like, wow. And it's legal six bedrooms.

SPEAKER_01 1:54

So you know they have their rental permit, you can get the rental permit easily. You're not talking about, oh, makeshift this, makeshift that. Is there room for a pull? It's legit. And there is room for a pool there.

Andrew Doud 2:02

Okay.

Steve Glick 2:03

Oh, really? Yeah. It's a cool house.

Andrew Doud 2:04

It's like uh because what do they call them? Uh technically an upside down house with a kitchen.

SPEAKER_01 2:08

It is the kitchen's upstairs, but but what's great about that is you walk out and you have this deck that kind of wraps around the house, and when you're up, you kind of catch those ocean breezes, you catch those sunsets, you're kind of closer to the elements that you're there to enjoy anyway.

Andrew Doud 2:22

So you're like, Yeah, it's a that's a good listing. Um, also in Hampton Bay's, this is uh this is one you sold, and now you're back on the listing.

SPEAKER_01 2:30

Yep, back on it. The uh buyer's agent asked me, and the owner asked me to partner with them to sell it on the selling side. Now, the list side, uh, one Linwood Court. It was a renovation project that we actually spoke about on the podcast previously, and the builders come in and completely done all new interior, exterior. It's gonna be three bedroom, four bath on a cul-de-sac, and this is just over one, two. So, again, looking at Hampton Bayes, where you get basically a brand new house in that, you know, just over a million dollars. Million dollars kind of a sweet spot anywhere. It's it's pretty uh great bang for your buck.

Andrew Doud 3:05

Um, so those are I mean, those are two good listings you got in the Hampton Bayes.

SPEAKER_01 3:09

Um you can tell I like those kind of projects. I really like it, come from a building background with my family. My dad's a Mason. Uh, my my family has flipped and built houses out here in the Hamptons, you know, Bridge Hampton to Hampton Bay's um for many generations. So having an eye for that kind of a project and being able to sell it and then also perform on the other side and sell it uh when it's a finished project is something that I do well.

Andrew Doud 3:30

And I'll brag on you for a second because we we have done our own projects. A lot of fun. Where we've taken a house in Florida, yes, you know, improved that, sold it, moved to North Carolina.

SPEAKER_01 3:44

Yeah, it's it's definitely something I enjoy doing. New construction, uh renovations, even if they're small. I mean, you don't have to do a half a million dollar renovation, you can do a hundred and fifty thousand dollar renovation. And just having the contacts to help people get there, uh, whether it is going to be a flip or it is gonna be a rental, there is um, you know, a lot of resources that I can provide. You're good at that. That's great.

Andrew Doud 4:04

Um, another renovation that's I guess wrapping up now, right? This is 55 Wikituck. This is this is a huge opportunity for somebody that is a savvy buyer, I think, because this is a great house.

SPEAKER_01 4:17

So 55 Wikituck is going to be all new inside um with a designer style, designer taste. It's been featured in some magazines lately. And so it is right across the street from um Long Beach and right there in Sag Harbor. So you get a lot of the Sag Harbor energy, and it's gonna just have those beautiful white oak floors inside. It's gonna have all new windows, new kitchen, renovated bathroom.

Andrew Doud 4:40

So this also room for a pool. Great.

SPEAKER_01 4:43

Also room for a pool. And there's also future uh plans that you could do a further expansion and make it two stories and um and go you know one step further. But you're gonna walk in, take the keys, bring your toothbrush, and have a great summer at the beach with that one.

Andrew Doud 4:55

Yeah. Um so those are some those are some great listings. Uh, but the other thing is where what day is it? We're two weeks in the in the June almost, right? So two weeks in the June. We're coming up on I I would call it like the hot spot of the rental season, which is July and August, right? That's when everybody wants to be out here. Correct. Um, you've done how many rentals this year?

SPEAKER_01 5:17

Blanking on the number now, but I think it was the 20 four. Yeah, that 24 for a one woman show was pretty good. Um, so and there's there's still some happening now, you know, showing something and negotiating things earlier this week. Um, but you know, there's been some headlines out there that say Hampton's rentals are down, and so I just wanted to address that because I think it's an a really important topic for our industry and in this show.

Dave Rattiner 5:40

Please do.

SPEAKER_01 5:41

And um, our data, you know, as we went over the numbers in our weekly meetings, our data is consistent with previous summer seasons. And so, you know, I think it comes down to the formula. You know, look at your house. If you haven't rented, the reasons are right in front of you. You know, look around. Do you have the rental permit in place? Do you have the heated pool? Do you have the primary with an en suite? Is it four bedrooms? Because people love four bedrooms. If you're smaller than that, it gets a little tricky for some people renting. Uh location, location, location. Are there train tracks? Is there a highway? Is there a busy street? You know, you might be a second choice then. So um, and then furniture, just having something super stylish because hand-me-down furniture just doesn't work anymore. You used to be able to you used to be able to pull that off out here uh and not put put much money into the interiors, but now people expect that hotel experience. So it needs to show that way and photograph that way.

Steve Glick 6:31

Yeah, fresh linens, clean furniture, you know, power wash the house, all that little stuff goes a long way.

SPEAKER_01 6:36

It does. And even before they walk in your door, they're gonna notice it online because everyone has it in front of them and you need to jump off the paper um and and the internet um in front of people to just even get them in the door.

Andrew Doud 6:47

I just bring that up now because it there's still still time, you know. And I mean, if you got something you want to rent for July or in particular August, I mean, and you're listening to this podcast, you know, why hasn't it rented? Well, yeah, take a look at everything that Sarah's saying, take a look at your price, see if there's some adjustments that you can be made. And it's like it's kind of like a hard, honest self-assessment. It's it's like, okay, what do I need to do to make this happen? And there's still time to do that. And if you want to do that, give some.

SPEAKER_01 7:12

And then and then if you do miss it this year, you know, get control for next year. I usually get everything organized and great pictures in the season and then get it uh freshly listed in the fall so that you're ready to go for whenever that person might be looking.

Andrew Doud 7:23

The rental permit's a big thing, though. Huge you need to have the rental permit. Step one start step one worrying about like the colors of the pillows, have the rental permit in place, and then you know, everything else can go from there.

Steve Glick 7:36

Why are you looking at me?

SPEAKER_01 7:38

You got this, Dave. You got this, Dave. Let's do it.

Steve Glick 7:41

We've been seeing a big uptick in the rentals just you know, yesterday alone, there were seven rentals that came in through the firm. Seven. And I think seven in the sun in one day.

SPEAKER_01 7:50

The sun finally came out, you know, that we've had a lot of rainy, uh unmotivational weekends.

Steve Glick 7:54

And people looking at you know, July and August saying, all right, well, let me let me let me do this, let me wrap this up, let me get into our rentals. So, you know, when you read the headline news, those are just people saying something um to just make a headline, right? But when you really look at the data from our firm, like Sarah said, we've been pretty consistent from year over year. You know, our dollar volume is up, you know, the transaction is pretty on par. So it's been pretty steady for the past two years for the rental market. What it looks like though, if you look online, there's just so many more rentals available. There's so much more inventory in the rental market because everyone's putting their house up for different periods of time for two weeks, one week, one month, and there are just so many more homes that were purchased over, you know, during the past couple years, and now they're just trying to recoup some of that money and get a rental out of it.

SPEAKER_01 8:39

And I used to say the market was saturated, which now I've decided is just such a negative word. The reality is it's very competitive. Uh-huh. So you just have to have the right formula. Yep.

Andrew Doud 8:47

Yeah. It's possible. You can get it done. It is happening. Oh, yeah. And and to that point, um, take a look at what your availability is. You know, if you're like hard and fast on it the entire summer, maybe do break it out by a month or break it out by two weeks.

SPEAKER_01 9:00

And I always say be open to pets because many, many people love to bring their pets to the beach and be out here with their pets for the season. So it sets you above.

Andrew Doud 9:09

Yes. Um, well, so we're talking numbers. Uh, Steve, let's just go right into that. What do you got for the sales data?

Steve Glick 9:14

All right. Well, we have a positive week this week. 33 listings went into the contract. Last year there were 25, so we're looking at an increase of 32%. So it's good to see that uh we're over 30 listings going into contract in one week. We've been seeing a lot of 20s. It's the first time in the past couple months we've been seeing over 30. Uh two years ago there were 20, so that's an increase from two years ago of 65%. And the breakdown of the 33 transactions, five between five and ten million, five between three and five million, ten between two and three million, ten between one and two million, and three under a million. Dollar volume was also up. It was ninety-eight million dollars compared to last year. It was an increase of eight percent. And two years ago, it's an increase of forty-two percent. New listings, 29 new listings came onto the market. So we've been seeing around 30. This is you know, 29 and 30, it's pretty much the same. Um, however, this decreases the inventory by just four listings, and the breakdown of the 29 new listings there is one between 15 and 20 million, one between 10 and 15, 7 between 5 and 10, 5 between 3 and 5, 5 between 2 and 3, 7 between 1 and 2, and 3 under a million. So good inventory in all price categories. Inventory is at 1926 total listings, 1,497 active, and 429 in contract. So great week. Positive uh all across the board.

Andrew Doud 10:31

There you go. Um Dave, what do you got going on?

Dave Rattiner 10:37

There's so much going on this weekend. I'm just picking out this is our weekend. Yeah, this is the dad.

Andrew Doud 10:43

This is like the big this is the dad. Happy Father's Day.

Dave Rattiner 10:45

Yeah, this is the dad weekend, that's for sure. There's not a lot of Father's Day labeling. Is there brunches and stuff? Do I get like breakfast and bed? How does this work? No. But there's there's a lot going on this weekend. Thanks for clearing that up, Steve. Um, let's see. What do I want to start with first? Let's see. Well, you guys, we like Dave Portnoy, right? From uh Barcel Sports.

Andrew Doud 11:08

I bet you Sarah doesn't know who that is. Do you know who that is? Nope, go ahead.

Dave Rattiner 11:12

Alright, well, Saturday for uh Saturday from 2 to 4 p.m. Uh the Shark Bar is hosting the Southampton Animal Shelter uh X. Do you say X or B? End, I guess. The Southampton Animal Shelter and Miss Peach's Lucky One Lemonade Launch Event. So the Lucky One Lemonade is the lemonade that Dave Portnoy's dog, Miss Peaches, is like a brand rep of, I guess. This is all new to me, but go ahead. Continue. Alright, well, people a lot of people listening will know what this is. So, anyway, the first 50 people there receive a lemonade on the house. Uh and the uh bar is gonna have like a little party uh to raise money for the Southampton Animal Shelter Foundation. So if you're a dog uh person, you can go to this event and I think you can adopt a dog at this event as well. Yeah, they're gonna bring like their dog truck there. No. We don't need any more pets. Yeah, so you you know you booze it up and then you're like, yeah, I would love to have a dog. You know, that's great. Um so Dowd, I know you're a runner. So this Saturday, if you want to do the Beacon of Hope 5K run walk. 5K is not that bad.

Andrew Doud 12:31

Yeah, three miles. Yeah.

Dave Rattiner 12:33

That's at the Montauk Point Lighthouse that starts at 9 a.m. Um if you're in the mood to go for a beautiful jog. You also have uh a Ja Rule Bar takeover with Amber and Opal at Kalissa on the 13th. That starts at 7 p.m. Uh do you know who Ja Rule is? Of course I know who Ja Rule is. Yeah, I do too.

Andrew Doud 12:58

I was in high school in 2003.

Dave Rattiner 12:59

So I feel like this is an extremely exciting event. Yeah, right? But Dave will be there. Because we're old, it must not be the thing to do. Like if this was happening when we were younger, then like 2002, this would be like an MTV was there, and TRL, and yeah. Yeah, that Ja Rule was there. So, but now it's just like the old guy who's gonna be at Callissus, you know. Keep the dream alive. You know what I mean? I heard Blank 1820. He's gonna like pretend to drink, you know, his like his his bottle of whiskey will have like iced tea in it, you know. He'll like drink it, you know. It's gonna be like that. Anyway, Ja Rule. 7 p.m. Callissus. I'm I'm you know, cool. Maybe I'll do that. That sounds kind of nice. Um a lot of Montauk stuff I picked out for some reason. So you also have Mavericks and Montauk has opened. So that's like super cool, yeah. That's the super cool, fancy place to go in Montauk. So you gotta go to gotta go to Mavericks and Montauk. Uh, this weekend they're having a wine dinner with guest host Christopher Rennard of Domains Ot. So I don't know what that means, but you know, you get to meet that guy. Then you got Sticks and Stones Comedy Night. Uh that is happening in Southampton June 14th at 8 p.m. Uh so a guy named Sherrod Small from OP Radio on Sirius XM is going to be performing for live comedy. And I don't know, I guess there's others. Go to Hamptons.com to look at all of the fun things that are going on this weekend. I'm there now. Just pick one. There are a lot. There are a lot of good ones. I'm feeling like I'm talking too long, so I'm just gonna stop. But there's a lot going on this weekend.

Andrew Doud 14:50

And look at this. Featured at the top of the page on hamptons.com is Hampton Bay's Beach Getaway.

unknown 14:55

There you go.

Dave Rattiner 14:55

Yeah, whatever that is. I don't even know what that is. No, no, no.

SPEAKER_00 14:58

That's their list. It's the new listing.

SPEAKER_01 14:59

Oh the featured listing. Oh, right, right. Um but also at the end of the wrapper. Yep. Also at the beach on um June 30th coming up. I'm gonna be there for that same beach, Pongquag. Uh the town of Southampton has their kickoff concert. So all these concerts in the park that everybody enjoys um around uh several of the towns. The first one will be June 30th, 6 to 8. That's the kickoff one um at Pongquog Beach there. So I will be there if anyone wants to come say hello.

Andrew Doud 15:26

You are to that point. What else are you doing this summer?

SPEAKER_01 15:29

Because if you're not something I'm really excited about, can I share? So it's in July, the 4th of July parade. I know Dave and Steve will be there because our office is right there uh in town and we always have beautiful chairs set up and a great setup. So I will be marching in the parade and there with an antique tractor and kind of waving to the crowds and having a good time with the tractors.

Andrew Doud 15:49

Success at St. Patrick's Day.

SPEAKER_01 15:51

So yeah, we like we like to do that and just kind of get out and be a part of the community and you know, show up. So we'll be there. Give us a wave.

Andrew Doud 15:58

We were gonna bring the pony.

SPEAKER_01 16:01

Logistics.

Andrew Doud 16:02

In the uh next year. We got it. We got it. We need a little chart. Oh, wow.

SPEAKER_01 16:06

We have approval. Logistics didn't work out the time. Ponies next year. Oh, cool. Yeah.

Andrew Doud 16:09

Yeah, maybe.

SPEAKER_01 16:11

Maybe Dave will walk one with me.

Andrew Doud 16:14

Um good. Anything else before we let you go?

SPEAKER_01 16:16

That's it. Thanks so much for the time.

Andrew Doud 16:17

All right, that's it. That's the podcast, everybody. Have a great Thursday. The day looks beautiful today. I think tomorrow, hopefully the weekend. Uh enjoy it. We're full swing summer.

Steve Glick 16:27

Oh, yeah.

Andrew Doud 16:27

I'm Andrew Dow. That's what's happening today.