Andrew Doud 0:08

Okay everyone, it's Thursday. I'm Andrew Dowd. It is 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 are joined as always by Steve Glick, Dave Retiner, and today, return guest, Miss Sarah Dowd, alongside Brian Mims. How are you guys?

SPEAKER_00 0:33

Great.

Andrew Doud 0:33

Thank you. Happy to be here. I'm happy to be back. Brian, you are uh owner and designer, owner and designer of um a great listing that Sarah has at 55 WicketTalk, and we're gonna talk uh in depth about that listing. I love the house, love the design, love the location. But first, Sarah, you have a coming soon you wanted to hit on. So what is coming soon?

SPEAKER_05 0:54

So this is another great one. Always good to have you know more than one great listing. Um makes the portfolio really stand out. But if you are in the market for something just under 2 million in Southampton in a waterfront community neighborhood, I've got a three-bedroom, three-bathroom, completely finished, redone, renovated basement, has a heated pool, checks all the boxes for a great rental product or even for just that summer house. Um it's a terrific neighborhood, and that's gonna be coming on. So more details soon. Just follow us on Instagram, check in on the website, we'll have details soon for that.

Andrew Doud 1:24

Okay. Wow. So that's coming soon. That sounds like a good one.

Steve Glick 1:27

Good price, too.

Andrew Doud 1:28

Um, available now, as we mentioned, is 55 Wikitawk, which is in Sag Harbor, and it is how many feet from Long Beach?

SPEAKER_05 1:37

800. That's our 800 feet. You can smell the salt water, you can see the salt water. Um, that's the featured listing this week, and it's really been a favorite listing of mine for a long time. And I know Brian has uh has a deep connection to it too. What do you love most about the house?

SPEAKER_00 1:55

Well, I love the proximity to the bay, as you mentioned, the 800 square feet. I look at it as it being your best neighbor that you could ever ask for. Um I love that. I love that the fact that the house is 1940s and the charm of what that represented has just been reimagined for today.

Andrew Doud 2:16

You uh you go ahead. Well, yep. Yep.

SPEAKER_02 2:20

I just want to say this. I think this is the best thing out there right now in Sagarbor, but in terms of price and in terms of location. And we visited this house, and I was completely blown away by the renovation. And I was also completely blown away by the size of this house. When you look at this listing on the internet, you're thrown off a little bit because it looks like it could be like you know, ridiculous. It's like two bedrooms, one bath. It's like, you know, maybe this is just like too small, but it is oddly large, and um it's really well done inside. Everything is really new, and then you have these beautiful porches on the outside that you can have coffee on, and then in the back, there's the uh opportunity. Is there a pool there, or you can build a pool back there?

SPEAKER_00 3:05

There's opportunity for a pool for this property as well.

SPEAKER_05 3:08

And I think that that size is by design, so you don't have this huge footprint to start off with, but your work inside this home and your choices were on purpose and made this home feel larger and better. Maybe talk us to a second.

SPEAKER_02 3:21

I don't know how you did it because when when you look at the listing, you're like, ah, two bedrooms, you know, the house size is 710 feet, and then you get there and you're like, you look up at the house, it's like up on a hill almost. It looks big. Right, it's a big house, it's like a nice house.

SPEAKER_00 3:35

No, I'm I love this space again. Um, and thank you for the kind words. I think the goal for me with the property was to how do you the minute you walk in, you feel uh a certain amount of escapism, you feel relaxed, and how do you bring that coastal charm into the space? And by doing things with new windows, the removal of walls, the choice of materials, I think they all amplify this sense of greater space. It's almost like there was something that I used to do, my background's in fashion, uh, but my passion has always been home. But there was something that we used to do when Calvin, uh Calvin Klein, I used to work with for him for many years, we used to do about spaces and how do you make a space feel larger? And it really is the idea to remove things, remove the unnecessary so you can celebrate what's there. And I think the house in its own way celebrates that. Isn't it he's so good at describing it? What's the bottom?

SPEAKER_02 4:33

Yeah, what's the bottom part? So you you you walk up, you open the door, and you're just like, wow, this is a beautifully renovated living room, it's bright, the ceilings have the what is that called in the ceiling?

SPEAKER_00 4:44

The architectural uh kind of I did an architectural grid uh in the room, and I think those little details just help make a space feel more special. The lines and the exactly. You know, so I think if you look at a home and treat it as if it were far more expensive, um, that was the idea for this property.

SPEAKER_02 5:06

But it's inexpensive house. It's 1.29.

SPEAKER_00 5:09

Exactly. It's really a great deal.

Steve Glick 5:11

That's the thing, it's 1.29, and then it's completely renovated. Like you move right in, you know, you don't need anything. You renovated every piece of element to it, to the bathrooms, to the kitchen, to the ceiling, to the flooring, and you could tell it's just it's perfect.

SPEAKER_05 5:26

And something with this house, too, that is always a standout thing to note about it is its rental history. So it has a solid rental history.

SPEAKER_02 5:33

Yeah, it's like how would you not rent them?

SPEAKER_05 5:34

I've said before, you know, put it up against another two-bedroom, one bath, and let me see another house outperform it. It is really solid.

Andrew Doud 5:42

From that side, that side deck that you mentioned, you can actually get some water views, and it's just uh a real you mentioned the the the lower level. I'll call it lower level. Yeah, so what is that?

SPEAKER_02 5:52

We I we didn't look at that. Is that a garage?

SPEAKER_00 5:55

So it's a garage and it gives an opportunity to.

SPEAKER_02 5:57

It's a car that you put it.

SPEAKER_05 5:58

It fits a Porsche. It definitely fits a Porsche. Okay, but yeah, a small car, but it's a small car in there. But I call it kind of a hobby space because someone might decide to turn it into a gym, someone might be an artist and decide this is an amazing bonus art room. Right. Um, so it it's just this raw space that really could be still finished off and reimagined.

Andrew Doud 6:15

Or you put your paddleboard down there. Exactly. Because you're right down the street from Laundrich.

SPEAKER_02 6:18

I don't this is one of the few houses I saw where I saw what it looked like before and after, like without like really going by the con construction progress. And uh kudos to you, man. I I'm re I I think you did a really good job with the renovation.

SPEAKER_05 6:32

What is your favorite part of the house?

SPEAKER_00 6:35

That's kind of tough. Um I love the bathroom, I think, for me, um in the house. And really, it's just a testimony to like simplicity, the use of marble, shiplap walls. Again, it speaks to that coastal charm and is just a great way to greet the day.

SPEAKER_05 6:53

And he did a great thing with the shiplap where he turned it vertical and maybe uh modernized it a bit more than some other houses where you see it the other direction. Um just simple changes like that. He's really has a great creative mind.

Andrew Doud 7:04

Big picture window in the kitchen.

SPEAKER_05 7:07

So definitely come come check it out. That one uh is priced well, great location, great house.

SPEAKER_02 7:12

Was it really stressful doing the renovation? I always wonder. You know, I never I've never really done that before.

SPEAKER_00 7:17

No, I mean I love it, so it really wasn't uh a stress for me. It's something that I enjoy.

SPEAKER_02 7:24

Then you you know the guy you know the the guys that are it's not you doing it.

SPEAKER_00 7:28

No, I'm not uh with the hammer. I mean you look like you could do it. You look strong. Um maybe. Um I'm definitely hands-on, but um I'm not uh laying marble slabs or anything. Right. He's picking them out, yeah. He's designing them. Exactly.

SPEAKER_02 7:43

I would be nervous to do it, and then the guy, you know, the guy screws it up, or you don't, you know. I don't know. You really have to trust.

SPEAKER_05 7:51

Well, you have to trust, but you also have to be there and you have to be monitoring and you have to be paying attention. And so Brian is a very good thing.

SPEAKER_02 7:56

Because you know how much every little thing costs, you know.

SPEAKER_00 7:59

Of course. I mean, I'm very hands-on throughout the whole process.

Andrew Doud 8:03

It's um no, it's a great, it's uh it's a great listing. Um to that point, though, Sarah, do you have um, you know, this this market is really heating up, and Steve will get to the numbers in just a little bit. But do you have any advice for for sellers in the in the market right now?

SPEAKER_05 8:18

I do. I think the market is consistently healthy. Uh, I think we're hitting this beautiful selling season that September, October uh presents to us here in the Hamptons. But uh kind of the three Ps that I would go with right now for sellers are persistence, patience, and pricing. And I think um buyers are really thoughtful and they maybe are not moving as fast unless it's a screaming deal. Um, so they are a little bit slower to gather the information, a little bit slower to make the move because they just have so much information out there and this is a busy selling season, so there's product to look at. Um, but just make sure that pricing is right, have patience um and persistence and believing in your product, which of course we do here.

unknown 8:56

Yeah.

SPEAKER_02 8:57

What do you think is gonna happen with the rate cut? Just in an hour.

SPEAKER_05 9:00

I think a lot of people have been waiting for it.

Steve Glick 9:02

I think a lot of people have been there's gonna be some movement on the downward spiral today.

SPEAKER_05 9:06

Yeah, and then but then of course there's more competition on the buyer side.

Steve Glick 9:09

Downward spiral. Downward is gonna go the rates are gonna go down. Oh, yeah. I thought you meant like the economy.

SPEAKER_05 9:14

No, no, no, no. Well, we don't know.

Steve Glick 9:16

But the rates are waiting for it.

SPEAKER_05 9:17

I think if a lot of people have been waiting on the sidelines, like waiting to jump in. And so, you know, something will happen, and then you know, we'll see some some busy action. Absolutely.

Andrew Doud 9:26

Not to look too far ahead, but I know you've already gotten inquiries about this. Uh next June is the US Open Golf. US Open Golf. Right. So we're talking about people always get confused. But yes, yes, selling now, but like uh next season is like a good rental opportunity.

SPEAKER_05 9:43

Yeah, so I'm already putting up the rentals for next season, which we always do ahead, and Brian has been a part of that program too in years past with getting rentals ready for for the following summer early. Um, and of course, the US Open is part of that conversation. So my advice to people actually um if you're not just someone looking to do the two weeks, just don't get distracted by it. Focus on your bigger season and focus on the bigger grab, which is the bigger money that can be made for the full season, and maybe don't get bogged down with just that smaller target because there's gonna be so much inventory, there's gonna be a bit of a competitive, saturated market. So I would say remain focused on your bigger picture and your bigger bang money-wise. Um, if you are someone who's really just trying to target those two weeks, I would advise you to put it at like August pricing, even though it's earlier in the season, because it is a valuable uh time that people will be here, but it's gonna be very competitive.

Andrew Doud 10:33

But don't shoot for the shoot for the stars on pricing because it's so bad you want to rent it, but it's a short time and there's gonna be a lot of competition.

Steve Glick 10:41

And um if you get a yeah, my advice is if you get a Morial Data Labor Day rental, go for that. Don't just try to you know capitalize on the two weeks. But like, you know, there's a lot happening in the Hamptons, you know, in this over the summer between the US Open, the Hampton Classic. Um, but I think the advice too is just to update your rentals now. People are looking earlier earlier than ever, and people are already signing up for next season. So update your rentals now, get them in the system, call Sarah, put your house up for rent, and see what you can do.

SPEAKER_02 11:10

I can't decide if the US Open is uh more about the fan that there seems to be an unbelievable enthusiasm for renting, you know, during that time. And I can't tell if it's just because there's like a lot of fans out here and they they're overthinking this. You're like a media, you listen to the media hype. It's just like who cares? It's like you know, two weeks. It's like it's if you want to run for two weeks, you can do it any time of year, really. If you think about it, it's like what makes this.

SPEAKER_05 11:40

There's a lot of excitement surrounding it, but again, I think um it's a small target in our own.

SPEAKER_02 11:45

I think it's golf is like, you know, shooting fish in a barrel.

Steve Glick 11:48

Well, golf is bigger than ever, and there's some great a lot of people are watching. Golf is growing sport out here in in America, you know, everyone's watching it more and more. And I feel like you know, this US Open is just bringing it like a lot of like a lot of attention to a big crowd. And out here, there's no hotel. So if anyone wants to be a spectator and enjoy the week here and watch, they're gonna have they're gonna have to rent a house. Um, I know like there's a lot of trains and that they offer a lot of services to commute um while that US Open is going on. So we'll be curious to see how that works out. But if you want to be there and stay for the week, you gotta rent a house.

Andrew Doud 12:23

Yeah. Um all right, so let's go back to sales. Um, what do you got this week? How were the next things?

Steve Glick 12:29

All right, so the data this week 39 listings went into contract from West Hampton to Montauk. Last year there were 30 listings, so it's an increase of 30%. Two years ago there were 21 listings, so over uh looking at an 86% increase from the past two years. So that's pretty big. Uh breakdown of 39 transactions, 8 between 5 and 10 million, 10 between 3 and 5 million, 11 between 2 and 3 million, 9 between 1 and 2 million, and 1 under a million. Dollar volume was 144 million, last year was 119 million, increase of 21%. Two years ago was 63 million, so it's an increase of 129% from that year. 33 new listings came onto the market, so that is a small decrease in inventory by just six listings. But you know, the past two weeks we saw 90 listings come on. Now we're adding another 33, so that is 123 new listings over the past three weeks, which is a lot. Um, the breakdown of the 33 new listings, three between 15 and 20 million, six between five and ten million, seven between three and five million, eight between two and three million, eight between one and two million, and only one listing came on the market under a million dollars. The inventory is at two thousand forty-eight total listings, with fifteen hundred and forty-one active, and five hundred and seven are in contract. So it just keeps steady, maybe steady flow, steady flow of listings going into contract. 39. That's pretty high.

Andrew Doud 13:53

We're seeing, I mean, we're seeing in the marketing department, just uh we're busy back.

SPEAKER_02 13:58

Yeah, listings are coming on and here's the thing, the revolving door with the Fed rate cut that empowers buyers. That also frees up sellers that are trapped in the lower rate.

Steve Glick 14:10

Yes, and those two worlds collide. It's all connected. So to see this, these numbers 33 39 going in, 39 coming on, uh 33 coming on, so it's like it's a balance, and that's what we're looking for. A balance in the market, and right now the market, the real state market is very balanced and it's very healthy.

Andrew Doud 14:28

So, Dave, what do you got going on this weekend?

SPEAKER_02 14:31

Lace up your running shoes. Okay, lace them up, Andrew Dowd.

Andrew Doud 14:36

I will.

SPEAKER_02 14:38

Does everyone know that Andrew Dowd's doing the Iron Man this weekend? Attempting. Andrew Dowd is doing Iron Man and you're doing it. This is a full marathon. I'm sorry to do this to you, but I'm just excited for you. You're gonna do a full marathon, a 120-mile bike ride, and 112-mile bike ride. 112 mile swim.

Andrew Doud 15:00

Two and a half mile swim.

SPEAKER_02 15:01

Two and a half mile swim.

Andrew Doud 15:02

Brian's over here doing the math. Yeah.

SPEAKER_02 15:04

And a 26 mile run.

Andrew Doud 15:06

Yes. Swim bike run.

Steve Glick 15:08

And the goal is to do this all in My goal.

Andrew Doud 15:11

Man, I shouldn't put my time.

SPEAKER_05 15:12

And be back for work on Monday. Yeah.

Andrew Doud 15:14

It's Saturday. So it's in it's in Cambridge, Maryland. So I'm going to drive down tomorrow, get my bearings, and then Saturday, we'll.

SPEAKER_05 15:25

He might need an editing.

SPEAKER_02 15:27

You can track Andrew Dowd on the Iron Man app. This is a 14-hour race.

Andrew Doud 15:33

My goal is 14 hours or less. Could be more. That's my goal.

SPEAKER_02 15:37

I don't even think I could sit for 14 hours. No.

Andrew Doud 15:40

14 hours.

SPEAKER_02 15:40

Someone was like. Can't even sleep for 14 hours. Yeah.

Andrew Doud 15:42

Yeah. This is longer. This is longer than a work day. This is longer than you can sleep.

SPEAKER_02 15:46

This is Well, so Andrew, so when you get back on Sunday, lace up your running shoes. There's another one. Because it is a very nice 5K.

Andrew Doud 15:56

That's easy. Like nothing.

SPEAKER_02 15:58

The Potato Hampton 5K is starting at 8 a.m. at the Nathaniel. It's starting at the Nathaniel Rogers House in Bridgehampton. And this is actually probably one of the most beautiful runs in America. It runs through psychoponic. I've done it a few times. My dad used to be a big part of this race. So the Potato Hampton 5K, this thing is awesome. Andrew, I suggest you go to that. That would be nice.

Andrew Doud 16:23

What time is it?

SPEAKER_02 16:24

It's at 8 a.m.

Andrew Doud 16:25

That's the tall order. So considering I'll be next 9 o'clock on Saturday, and then you know. Yeah, maybe next year.

SPEAKER_02 16:34

We'll get one of those like wheelbarrels. I'll put you in the wheelbarrow for that. So well, good luck on the other end. Very excited for you. Okay, so then, you know, if you want to um bring it down and you want to relax and have some wellness in your life. This sounds more messy. You look like you need wellness in your life.

SPEAKER_00 16:56

Always.

SPEAKER_02 16:57

So there is the Hamptons Sound Healer sponsored by Wave Wave Wellness. This is a sound wave bath. So there's no water involved. You lay down and then they do the gong. And I've been meaning to do this for years. I haven't done this yet, so I'm going to do this. I'm going to do this, guys.

Andrew Doud 17:19

Okay.

SPEAKER_02 17:19

So this is September 19th, 5 45 p.m. for one hour at 15B Hill Street in Southampton. Um I think it's freight, which is great. Even better. Okay. This sounds like a date night. They have Tibetan Bulls and all that. That's gonna be good. Um, and then finally we have the Haha Hamptons Comedy Tour. Whoever came up with that headline, give that guy a race. So September 20th, 8 p.m. to 10 p.m. at Bay Street Theater. You have the Ha Ha Hamptons Comedy Tour at Bay Street, that's in Sag Harbor. Everyone loves a good laugh. The comedians aren't listed in this uh sheet that I have here. It's always fun at Bay Street. It's hilarious as usual, and everyone's there to have a good time. Also a good date night.

Andrew Doud 18:10

Okay.

SPEAKER_02 18:11

Um, and then we'd like to ask a guest, what's your favorite restaurant?

SPEAKER_00 18:15

It's tough, but uh my favorite was probably in Sag Harbor, Dopio on Bay Street.

SPEAKER_02 18:23

Uh I think that's my favorite too.

SPEAKER_00 18:24

Oh, is it? Yeah. Yeah.

SPEAKER_02 18:26

Yeah, that's my favorite.

SPEAKER_05 18:27

It's a good date night spot.

SPEAKER_02 18:29

Wait. I'm confusing it. Dopo is too what's the one? What's is it Tuto that's my favorite?

SPEAKER_00 18:34

It is Tuto Jrno, which is the Donna Karen. Dopio is the smaller one. The smaller one.

SPEAKER_02 18:39

I like the I like the bigger one. I like the small I like the small. I like the I like but I like that I like to do it.

Steve Glick 18:46

I do like staples at Sag Harbor. They have that great chicken salad uh dish there. Yeah, good pasta.

SPEAKER_05 18:52

Sag harbor in general is just good for a night out. It is good for a nice to do there. And then you just walk around.

SPEAKER_01 18:58

Go to the um beer place. Kid squid? Kid squid.

Andrew Doud 19:03

I look forward to being able to go out and do things again.

SPEAKER_01 19:05

Yeah.

Andrew Doud 19:06

Having a life around. Where you're not like running, checking your heart rate. That's all I do. My whole summer. Swim biking around the whole summer. Alright. Um, cool. Anything else before we let you guys go? Obviously, call Sarah about 55 Wicked Talk. It's honestly it's a phenomenal house, beautifully done, and a great, great price and location. It's I mean, move right in.

SPEAKER_05 19:30

And I really wanted everyone to hear from Brian himself because the work that he's put into this home is absolutely stunning and it shows through on the other side. So come enjoy him.

Andrew Doud 19:39

Brian, thanks for joining us.

SPEAKER_00 19:40

My pleasure. Thank you.

Andrew Doud 19:41

All right, everyone. We'll call that a podcast. Have a great weekend. I'm Andrew Dowd, and that is what's happening in the Hamptons.