Welcome And Weekly Snapshot

Andrew Doud 0:07

All right, it is Thursday everyone. I'm Andrew Doud. Time for a 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. Mr. Steve Glick is not with us today, but we do have David Rattiner. And today, Mr. John Healy, how are you, sir? Good morning. I'm good. Return guest. Look, we're in the summer. This is the time, man. You know? So what are we

US Open Week Traffic And Construction

Andrew Doud 0:36

talking about today? We got you've been busy with, I mean, kind of everything. You got an amazing opportunity we'll get to in Southampton, but where should we start? What's going on?

John Healey 0:44

well, today's the first day of the U.S. Open officially. Oh my God. There is traffic.

Andrew Doud 0:50

You know what? It's like it's been amazing to watch the whole process for the last like six to eight months. I mean, from repaving the road from the highway all the way through Southampton. I mean, it's like the infrastructure shit's gone in, now the roads are closed, the cops are out there, the people are coming, the fans are there, everything's set up. It's just it's insane. They've built a city in like six months.

John Healey 1:15

But also, if you think about it, whether you live here year-round or or not, the the traffic, you know it's always been bad. Well, we they they decided to repave, and that had nothing to do with the U.S. Open. Right.

Andrew Doud 1:26

Oh, really? No. I just they won thought that they wanted it to like look really good going in.

John Healey 1:30

I think it was again, you know, you look at budgets per year for highway, state, they they got it, it was budgeted, so they put it in there. Then we have the bridge issue at the canal that was unexpected. That had to be repaired, and that's still being repaired right now with that. So there's closings and you know, one-laners, and it's almost like we for a year and a half have got perfect break in anything, and that one minute you're like, oh good, no construction, there's cones coming up. And then they decide to reroute County Road 39 for traffic last year. Remember, after their big study, and throw cones everywhere, and guys are closing down lanes and stuff. We just, we just considering we have two ways in and two ways out, we get no break.

Andrew Doud 2:16

Then there's they're they're putting like sidewalks and stuff up in outside Sag Harbor up by Long Beach, you know, and it's like so and they're repaving all those roads and it like right now, like in

Rentals Hype Versus What Happened

Andrew Doud 2:25

summer.

Dave Rattiner 2:25

But you know, the big thing with the U.S. Open, a lot of people were saying, oh, you know, the rentals are gonna go crazy with the U.S. Open, you know, it was it was all about how it's gonna bring so much business into the economy. A lot a couple of real estate agents were excited. How do you how has it affected business in your opinion?

John Healey 2:40

I don't think it was as as big a it was hyped up bigger than it really came to fruition. I think a lot of people stay with friends. Look, think about how many people bought houses during COVID, you know?

Dave Rattiner 2:50

Right, right.

John Healey 2:51

So a lot of people, even if they rent their house out and it's a it's more of a rental investment, they didn't rent it this time if they could if they had friends that wanted to come out to see the open. Right. And I think a lot of what happened too is people rent it early. You know, like you know, if if you're if you're part of the USGA or or any of the media, you know, you're planning that a year in advance.

Dave Rattiner 3:11

Yeah, yeah, yeah.

John Healey 3:12

So a year ago, they're like, hey, we need a we need to house all the TV guys or whatever. Demand was baked in. Yeah, that was all baked in for sure. And the players, they're more flexible because they don't even know if they're gonna be making the cut, if they're gonna play, if they're hurt, if they're not hurt. So they were they were the ones that were probably a little bit more last minute, but a lot of them, like like Speath, he's got his own motorhome out here. Speith. The player, yeah. Yeah, golf. And sorry.

Andrew Doud 3:39

And he's a big golf guy.

John Healey 3:41

I saw his motorhome, so I you know, whether he's staying on it or what, I mean, I I think they have enough connections to where think about this. If if if you know a member of Shinnecock or or or Atlantic or or any of the private courses, and you said, could you would you mind housing you know any of the players, you're probably gonna say, sure, love to. So it wasn't as as big a bum rush, I think. And uh, and because you can come out by train, bus, shuttle, yeah, all that, you didn't have to necessarily rent a place. So I think that was a little overhyped, but but as I was saying earlier today, um, I did my, you know, Jack and I, as a team, we did get a player. there were a couple of amateur players that got last-minute nods all last week, and they suddenly did need a place. And so we were able to find them a couple places, and it's kind of fun. They're they're the you super young guys, and definitely people we would follow because we feel like a little bit of a relationship with them by helping them find a place. So it's interesting how how how rentals did come up. But you know, you know how it is too. If you tell everyone, rent your house, it's gonna be the Shinnecock Open or the US Open and it's local, everyone wants a piece of the pie. Right. Sure. And it your house might not even really qualify to be a piece of the pie. So we just got a lot of inventory that jumped on the market for that reason. I think the take on that is if you wanted to take the investment and make the money, maybe you want to sell your house. So maybe those are the people you want to reach out and say, you know what, maybe you should just put it on the market and see what's going on. The market's been great.

Dave Rattiner 5:21

Yeah.

John Healey 5:22

The market's been we haven't had a reduction in prices that I noticed that we thought we might be coming to because of the interest rate hike, you know, and the situation in Iran and oil prices and basically inflation, which would a lot of times bring the pricing down. I think it's been pretty steady and and demand is still here. Which is amazing that that the Hamptons is resilient enough to still have demand at a high price.

Dave Rattiner 5:49

You know, it's funny that you say, you know, it's it still blows you away, even if you've lived here and grown up here and your parents are from here. Like we were we were driving with, I was driving with Steve through Watermill the other day, and Steve's been working here for like you know forever, and he goes, Look at how beautiful this is. And I was like, Can you believe it? Look how nice this is. And I was like, Yeah, it's the Hamptons. I was like, it's unbelievable, you know? And even I still think that, you know, and I always say, I I bring this up all the time, like whenever I leave, I notice

Why The Hamptons Holds Value

Dave Rattiner 6:20

it dramatically when I come back, you know, for a little bit of time.

John Healey 6:23

30 years, and I will tell you, I don't know of a better real estate investment location long, medium, and short term, but mostly long term for sure, obviously. Of course. But you know, you've got some other places that are developments and stuff in other parts of the world that are great for short and medium term and long, but the consistency of the Hamptons is is proven. Yeah, really is proven, at least in my career. And I I would say that I, you know, I always say I wish I knew and had the wherewithal to buy more and more houses back in the day, but ten years from now I could say that I probably should have bought more today.

Dave Rattiner 7:01

You know, you know what I always notice about you, John, is is you have these you have repeat customers. It seems like every client of yours is like this, is this dear friend of yours, you know? And how do you how do you get referrals and how do you how do you bring bring stuff in like you know, with networking? Do you go out? Do you do you socialize with people? Like it just seems like you're a man about town. If I need to know something, I you're just gonna be able to do that.

John Healey 7:27

I don't make it to all the the galas and and and all the summer events. That's not my thing. But but I will say But it just seems like you know everyone. I stay well, you know, obviously, as you know, you know, staying in the community with the fire department and stuff like that, that that that becomes a real deep entrenching community, and that's been a long time. but I will say it's really I've been fortunate enough that customers are willing to stick with me and we stay

Referrals Rentals And Staying In Touch

John Healey 7:55

in touch. That's really important. Communication that we stay in touch, whether it's you know, how how are the kids doing, they've moved on to college or whatever, and just constantly, at least a couple, three, four times a year, I try and touch base with everybody. Yeah, and some of them say, hey, you know, we've moved on, now we live in Florida, we're never coming back, whatever. But I think that I will say back in the day, doing rentals, where you know, we've talked about this before, where some people are like, Oh, I hate to have to do rentals. I've always been a firm believer you do rentals, you stick with those people, they become buyers. That's the way it works. Sure. And I could say that probably 75% of the people that does work that way. I have a few people that still rent, you know, 25 years later. Right. But that's because they do one month, it works for them. They're elsewhere in the world all the time, so it doesn't make sense to have an empty hand.

Dave Rattiner 8:47

Something to worry about.

John Healey 8:48

Yeah, and they get to pick something different each time and if they want to. And and so that's their that's their their program, and the program works for them.

Andrew Doud 8:56

For some, I I used to think that people that rented long-term, like 10, 20 years, I'm like, why wouldn't you just buy? And the real and and there is some some thought to that, right? It's like if you're coming out here every year for a month, why wouldn't you just buy? But the reality is there is something really nice about coming out to a rental that you enjoy and then you're just done with. It's an experience.

John Healey 9:18

You get that one month experience is what you're looking for. And we we all talk about, you know, in the last three or four years, how experience in marketing, people want the experience more so than anything else. Younger generations want the experience. that's what they're looking for. And people are paying for experience holidays more than anything else. So I I I don't know if that's a direct reflection of that, but I know that you know, there's people that will rent here for a month, they'll rent in Nantucket for a month, and they don't feel bad about closing the door, locking it up, and knowing it's not theirs. You know, there's less liability for the other 11 months. So, you know, that makes some sense. I think for other people, but there's nothing they want to go in and they want to go to their own home, yeah, and they want to stay in their own bed and stuff, and that makes sense too.

Andrew Doud 10:04

I would also say that the the Hamptons is one of those, and maybe this is why it always seemed a little silly to me, because this market is like such a buy now, hold, sell later, enjoy. Like it's we've always said it's like the asset you can live in, you know what I mean? And so it's like, well, if you're gonna rent long term, why wouldn't you just buy and then make money down the line? But the reality is you know, you don't always have to do that, but it the Hamptons market is unique, I think, unto itself, because it is something that can be an asset if you choose an asset.

Dave Rattiner 10:36

I think you can objectively say that it's unique. I really think you can objectly say that.

John Healey 10:39

I think it's unique because that's why it doesn't matter what the economy's doing in the last 10 years. This place has been crowded in the summer. Yeah, so the economy can be horrendous. And and listen, you can always go back to say oh eight as an example. But in 09, our summer was busy. We and not, you know, there we were, they weren't at the big buying, buying pickup something cheap yet, but there were people renting. Yep. And so they were here because they want to be here for the beaches, for the social, for the food, and the experience, like you said. And and we've got a bay to be boating in, we've got an ocean to be swimming in or playing in or whatever. It is a really special place, especially July and August, obviously. And I think September myself, but it is

Wealth Waves And Real Estate Demand

John Healey 11:25

interesting. You know, someone asked me the other day, did you get in on any of the SpaceX IPO? And I said I bought some.

Dave Rattiner 11:33

I said probably a bad idea.

John Healey 11:36

No, I don't think so. But I did say to them, I'm planning on reaping on the benefits of the SpaceX IPO for the next probably five years. Because if it can make an economy adjust for the positive, it's gonna trickle down to all other investments, real estate, you name it. You know, they made the comments, I guess. Some of the, you know, the the the staff that was janitorial staff or whatever. Millionaires are millionaires. But how about the people that bought the stock that are gonna end up selling some of it and reap that benefit? If if wealth makes more wealth, which it does, it it doesn't hurt our business out here. Right. So I'm here with open arms to say maybe you want to transfer some of that wealth into a piece of real estate here, which could make you more wealth

220 Elm Street Southampton Opportunity

John Healey 12:28

down the road.

Andrew Doud 12:28

That's what it is. I want to get to are you doing the numbers? Am I doing the numbers?

Dave Rattiner 12:33

Yeah, well, I want let's talk about your house. You you have this house. Oh, so we do it. I want to talk about 220 Elm Street.

John Healey 12:38

Yeah, Jack and I have 220 Elm Street. It's it's um, you know, the villages, all of the villages have become very expensive, very popular. Sag Harbor, East Hampton, Southampton, even Montauk. and especially when you're in the village where you can walk to everything. So this is one of those places where really everything is kind of sold in the last four to six months. And this is an opportunity for someone to go in there. My suggestion is a gut renovation of it. I wouldn't tear it down because it's got a great classic village, Southampton village look. And it's a nice piece of property on the corner. and I just think it's a matter of someone having the patience to go in there and and do the right thing and bring it back. It's got all the rooms are large in terms of square footage for each room. it's got the bones, it's got everything that's needed. it just needs a real good cleanup and and and a gut renovation, in my opinion, to get it make it right. And we had a trade recently on the on Elm where the ask was, I believe, nine seven. Yeah, this is 220 Elm Street. This is 220 in South Hampton.

Dave Rattiner 13:43

I lived over there in my 20s. I lived off of Leighton Avenue.

John Healey 13:45

Even if it I don't know the trade number, but even if it traded around nine and you buy something like this around, you know, in the twos, you're the the upside is there. It's huge.

Andrew Doud 13:55

You want to talk about something in 10 years, you'll be happy you got it.

Dave Rattiner 13:58

It's such a special bucks. Sure. Well, it that if you go over there and just kind of absorb the area, it is such a special area.

John Healey 14:06

You know, listen, you can take the train and walk basically two blocks down here.

Dave Rattiner 14:11

Or do you know dip right into Southampton Village? There's so much cool stuff going on in Southampton Village, and it's like a really safe community-oriented area. It's great, it's a great spot. I think obviously that's why it's popular. You know, 20 years ago.

John Healey 14:25

That's why it's popular now in the village, too. It's just that I think people like that convenience. Yeah. and then obviously you're, you know, for it's you've now got a village residence, you get a village pass, you know, and now you go to the village beaches and you're all set.

Dave Rattiner 14:40

Yeah, no. It's it's it's an amazing place to live. I'm actually you know, we live in Southampton. I was thinking about picking up the village pass because you can get it for like 200 bucks.

John Healey 14:48

Right.

Dave Rattiner 14:49

And I was but Cooper's Beach is just like unbelievable. Yeah, it's unbelievable. Anyway. So you want to do the numbers?

Weekly Numbers Contracts Volume Inventory

Andrew Doud 14:56

I can. You can.

Dave Rattiner 14:57

Oh, yeah, here you go.

Andrew Doud 14:58

Do it. It's on me. This is a cold read now. First time seeing it. All right. the Hamptons real estate market data for the week of 6-9, 2026. Over the past week, there were 32 listings that went in the contract from West Hampton to Montauk compared to the same week last year. There were 28 listings that went in the contract, which is a year-over-year increase of 14%. The same week in 2024, there were 27 listings that went into contract. Compared to this week, this past week, there were an increase of 19%. The breakdown of those 32 transactions, one over 20 million, one between 10 and 15, 6 between 5 and 10, 11 between 3 and 5, 6 between 2 and 3, 4 between 1 and 2 million, and 3 under a million. So they're still out there. Over the past week, the dollar volume was $126 million compared to the same week last year in 2025. The dollar volume was $98 million, which is a year-over-year increase of 65%. The same week in 2024, the dollar volume was 92 million. Compared to the same this past week, there was an increase of 76%. This past week there were 35 new listings coming onto the market, which with 32 listings going into contract, inventory increased by three listings. The breakdown of those 35 new listings, one over 20 million, one between 10 and 15, 5 between 5 and 10 million, 6 between 3 and 5, 8 between 2 and 3, 12 between 1 and 2 million, and 2 under a million dollars. The overall inventory as of 6, 16, 26, 1,728 total listings, active and in contract, 1,370 active listings, 358 in contract. So there you go. you know, you were saying that this has been busy, still busy, uh, still active, um, which we're seeing. What do you what do you think the rest of the summer will look like? Because everybody always says, Oh, you know, you get in August, people are out here, they're enjoying their house as it slows down, which seems to be the case. But um, do you think July continues to be an active month?

Summer Buying Patterns And New Construction

John Healey 17:11

I do. I what's interesting on those numbers on the last two weeks, you mentioned six between three and five a week ago, and then eleven between three and five million last week. Correct?

Andrew Doud 17:24

the breakdown. So let's see.

John Healey 17:28

Just look at the three to five million.

Andrew Doud 17:30

Yeah, three to five, new listings coming on, six between three and five million. those are the three new listings.

John Healey 17:37

What was the sale? What was the trades though? You you incoming.

Andrew Doud 17:40

Yeah, that was 11 between three and five.

John Healey 17:43

So six and then eleven. And between three and five, that's our that's really our threshold for new construction. Pretty hard to find new construction under three anywhere, right? And there's a lot of new construction between four and five or five and a half, whatever. So it's interesting. That tells me, I think, that the lot of the buyers are looking new construction without even looking at what those listings were.

Andrew Doud 18:08

Right.

John Healey 18:08

I'm guessing between you know, 17 listings in two weeks in that price range, I'll bet half of them are new construction. Yeah. And so that's the that's the direction that everyone's going in. I don't think people really want to take the patience and time to take so long to get permits, to be honest with you, unless it's a dynamite spot. And that brings me to the fact that we all know, both towns, it's been a battle in the building departments and trying to get a CO. Anything has taken, you know, three, four times longer than it used to take. And and that's gotta change because that's hurting valuation. It's hurting the buy side. They they that's why someone says, I'll buy a new house. Give me a new construction before I have to do work.

Dave Rattiner 18:52

These builders are not cheaping out. I mean, these builders are like doing good business. Like these houses are stunningly beautiful, stunningly beautiful. And when they and and when a builder puts in all that time, all that work, gets the architect, all that thought, and all they're trying to do is sell it to somebody to make their life like totally easier. They sure they make a little bit of a profit, but it's not like you know, they're not making like a hundred percent profit. They make a little bit of they make a little bit of a profit.

John Healey 19:19

So not it's a lot of money, but getting to your question, um, Andrew, I do think that you'll see consistency. You know, summer for us always there's always a point sometime in the summer where it's a little quiet. People are you know, they're settling in. Because they're having too much fun. It seems like it's right after July 4th, where people are like, all right, I'm here for my summer. I'm gonna relax. Unless you get rainy days where they say, hey, let's go look at houses. It's tough to get them off the boat, out of the beach, you know, whatever, out of the water. I get that. To go and do that. And I get it too. And I've always said that um, you know, you have to with experience, you have to be able to filter through people that say, Hey, it's a cloudy day, we're guests staying here, let's go look at houses, whether they're tire kicking or they actually really have interest. Because you can really run yourself ragging through all this traffic to try and show houses. And you want to try and make sure you it's a legitimate, you know, showing. Yeah. it's not easy in the middle of the summer. You still have to be available to do that, but there's always a little bit of a slower pace. And then as you get into second week of August, third week of August, people start to ramp up and say, okay, if they don't have kids to worry about going to college and getting them shipped off and so on or whatever, boarding school, they're probably ready to look because they're here. and then obviously we've always said the serious people come back in September and they spend a weekend somewhere in a hotel or whatever, or an inn, and they get really serious about it. But I the key is you have to be available in the summer as much as you want to go to the beach and not be available. you have to be because there are people are here and you have to show. And and it's when you meet the new client, new customers as well. Yep. As in the summertime.

Weekend Picks US Open Music Fathers Day

Andrew Doud 21:00

Yep, yep. what do you got going on this weekend? Obviously, the open.

Dave Rattiner 21:03

Yeah, we talked about the US Open. So that when is that end? That ends on Sunday, right?

Andrew Doud 21:07

And you're going. You're going?

John Healey 21:08

I'm gonna be going. I'm going. Yeah, I don't know when I'm going, but I'm going. I've got a pass because thank you for the fire department. Are you working it? We I did already. I did a standby for for a full day on Monday, and the USGA was generous enough to give us a pass that covers every day. So can kind of come and go, which is nice based on who I want to see play or what I'm doing that day.

Dave Rattiner 21:32

You know, it was described to me as it's kind of like the Hampton Classic, but for golf. It's just like you get there and you walk around and you're just like, wow, and then you buy the shirt or whatever, and it's like, you know, you just kind of check it all out, you know.

John Healey 21:45

Well, it's in your hometown, so you kind of have to make somewhat of an effort if you can to go. You gotta check it out. Whether you're a golfer or not, it's an experience. Again, we get back to that, and it's an experience in your hometown. Yeah, I mean, as much as there's traffic and it's a pain, you know, you gotta. Options to go over a five, six day, seven day period, so you might as well pick one and do an afternoon or a morning or something.

Andrew Doud 22:06

And if you've never been to a golf tournament, like a professional golf tournament, it's pretty it's unique.

John Healey 22:11

Well, when we were there Monday, there were people chasing some of the early golfers there to get autographs. Right. Which I thought was it reminded me of being like at a concert or something. there are seriously people that love players and obviously want to follow them and get autographs, and they'll they'll run for it.

Andrew Doud 22:29

Oh, when I worked in NASCAR, I mean that was every weekend, you know, these guys follow drivers around, and it was like, you know, they had they brought tons of stuff to sign diecast cars and hats and t-shirts and whatever else.

Dave Rattiner 22:39

John, I know it like this weekend is like built for you, man. This is so funny. So you got the golf free for John Healy. Then we also have I know you're a big reggae fan at the Stevens Hawk House on June 21st from 8 p.m. to 10 p.m. It's a great reggae band, Black Uhuru has remained one of the most popular, recognized, prolific reggae bands, and they're direct from Jamaica.

John Healey 23:02

They were like Steel Pulse, and they they they have albums out that I've got. I mean, it they're great.

Dave Rattiner 23:07

So they're they're the real deal.

John Healey 23:08

So maybe same era as Bob Marley and everything. So they've they've been around a long time.

Dave Rattiner 23:12

So you might want to check them out, and then Father's Day is this weekend, guys. We're all dads.

Andrew Doud 23:17

Oh, yeah.

Dave Rattiner 23:18

So I you know I picked this one out that the Hampton made, you know, they have Father's Day dinner at a rare. Do you know where the Hampton Maid is, obviously?

Andrew Doud 23:25

Great food. But I hear the great breakfast, yeah.

Dave Rattiner 23:28

Go early.

John Healey 23:29

Yes, you can hit it. Because the traffic, it'll take you an hour and a half to get there sometimes because you're going with the trade traffic. So we've gone there. If you're coming from where you are, coming from the west, it's great. No traffic at all. Right. But if you're coming from here, you've got to leave like an hour early before your reservation.

Andrew Doud 23:45

It it takes me. So I live in Hampton Bay's. It takes me today. It took me 35 minutes to get across the canal from my house. It's it's maybe two miles, you know, two and a half miles.

Dave Rattiner 23:56

This is part of the charm, you know, it's all part of the charm. And then in Montauk, you have at the Surf Lodge, of course, 4 p.m. June 21st. David Shaw of the Revivalists will be spinning at the surf lodge.

Andrew Doud 24:10

I think that's a younger crowd. You know, but that's like the place in Montauk, right? You know, I oh yeah. I think I was there maybe once.

Dave Rattiner 24:16

I'm like in a in the middle of a midlife crisis. I gotta get I gotta get there. That's fine. I've got to check it out.

Andrew Doud 24:21

You know, some people, you know, everybody does that.

Dave Rattiner 24:23

All out at the surf lodge one summer.

John Healey 24:25

Where's Nancy Atlas playing? She's gotta be playing somewhere in Montauk.

Dave Rattiner 24:28

I think she does it at the surf lodge too.

John Healey 24:30

Yeah, but it's like if it's like a montaucket, I think it's pretty regular Montaukett and Surf Lodge.

Dave Rattiner 24:35

Yeah, she's still she's you know, she's the best. Still rocking. So that's pretty good. That sounds like a good weekend. It does sound like a good weekend.

John Healey 24:43

Right. And then look forward to the Fourth of July parade. Yeah. It's around the corner. First is the North Sea Carnival, though. That's that's that's starting up in two weeks. Yep. And that'll be great. And we have fireworks on two of the days we have fireworks. Yeah. Fireworks are actually, I think, the second and the fourth, I believe. and then you roll right into the parade that same weekend for Southampton.

Andrew Doud 25:10

That's it. That's gonna be a big one this year.

John Healey 25:12

And that's when summer starts the the slide. Yeah. After the 4th of July, the slide to to the fall. Yeah.

Andrew Doud 25:19

I don't want to talk about it.

John Healey 25:20

No, it's fine.

Dave Rattiner 25:21

There's plenty of time. I'm enjoying at 9 p.m. sunset. January, February, March. It's just brutal. Yeah.

Andrew Doud 25:26

Only three months.

Dave Rattiner 25:29

Yeah.

Andrew Doud 25:29

that's good. Yeah, good stuff. That's it. John, thanks for joining us, man. Hey, thank you for having me. That's great. Enjoy the weekend. yeah, enjoy the summer. happy Father's Day to everybody out there. Enjoy the weekend. swing by the U.S. Open if you're a golfer or even if you're not. until then, until next Thursday, I'm Major Dowd. That is what's happening in the Hamptons.