Welcome And Sponsor Message

Andrew Doud 0:08

It is Thursday, everyone. I'm Andrew Doud. 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.

Vince’s 100-Deal Pace

Andrew Doud 0:24

got the group back today. Steve Glick, Dave Retiner, myself, and today Mr. Vincent Horcasitas, the hardest working broker in the Hamptons. Woo-hoo. And first of all, Vince, always good to have you on our little podcast show. We were discussing what we wanted to talk about, and we always say, hey, you're busy. You've been working hard, right? You know, we get that. You are always busy. But for a little perspective, your goal, you said, is to hit a hundred transactions every year. Where are you? We're in all we're in July July, right? Yeah.

Vince Horcasitas 0:55

You know, , we're close. I mean, it's unbelievable. We're at 84 transactions. I mean, the team That's crazy. The team has been just kicking ass. I'm super excited. We're you know moving along, and , you know, to be six months into the year and already at 84 transactions, I'm pretty excited. I think I'm gonna hit 100 this year.

Andrew Doud 1:15

Now that's rentals and sales or just rentals and sales. Okay.

Steve Glick 1:19

Yeah, your goal is set, and it definitely seems like you're gonna surpass that. Um tell us about where's been a bulk of these transactions. I know it's sales and rentals, but you know you were talking earlier about the rental market.

Why Rentals Are Surging

Vince Horcasitas 1:31

Yeah, I mean I think the rental market's just like we we've we did 70. I think we did is it 70? No, not quite 70, because like probably like 60 transactions already in rentals. That sounds easy. Like 20, 25. Oh, yeah, those are the things.

Dave Rattiner 1:46

That sounds super easy.

Vince Horcasitas 1:48

Piece of cake where complaining about the pool temperature. You know, I want to put that in a rider to the lease.

Steve Glick 1:53

You know, that's like that's like two or three a week that you guys are putting these rental deals together. And you're talking about the amount of sheer volume like these rentals consume. And you were saying how much was that $10 million?

Vince Horcasitas 2:06

Yeah, 10 10 million GCI. I mean, that's a rental. I mean, I've been doing this for 26 years. We never surpassed 10 10 million. What do you think it is?

Steve Glick 2:15

Why is why this year? Why so many people coming out here to rent?

Vince Horcasitas 2:19

You know, I I think it's a combination, you know. I think , you know, a lot of people don't want to travel. Yeah. Um you know, you have still high interest rates. I think people are just , you know, for whatever reason, wanting to rent. I don't I'm not really sure. The I mean the sales, , you know, you're gonna go over the numbers shortly on the sales, and they've been off. And I think the first six months of this year will again show that, you know, we're you know, we're not having a great year if you look at the numbers in the just in the first quarter, right? We were off 40 percent in in in transactions and we were off 20 percent in dollar volume, and I think the second quarter is gonna follow, but I think we're gonna

High-End Deals Going Faster

Vince Horcasitas 2:53

have a big year. Really feels like the high-end market is really starting to roar.

Steve Glick 2:57

Yeah, you you were talking about that. Um with you've seen a lot of listings in the high end going into contract in recently, right?

Vince Horcasitas 3:04

Yeah, yeah. Three three properties in in Sagaponic, all over $20 million, have trade are are in contract before they're built. Wild. It's unbelievable.

Dave Rattiner 3:14

And it's sort of the script has flipped, right? Like I always the super high end would kind of just sit there for a long time, and then the the lower end were the things that carried the market.

Vince Horcasitas 3:23

Sort of the low end isn't low end anymore, right? What's what's the what's the mediu home price? The mediu price, yeah. No more million dollar houses, right?

Andrew Doud 3:33

That was the thing when I you know when I started ten years ago, it was like, and you know, Andrew would give a breakdown of what the market was, and there was there was still a number of houses to be found for like under a million dollars in various parts, you know, east of the canal.

Dave Rattiner 3:45

That's just it was going by. It was always hard. It was always sick.

Vince Horcasitas 3:49

When you see what's going on with the springs, I mean I started my career my first six months of when I first started, I sold eight houses under $300,000 in the springs. That was 25 years ago. You know, look at that now, it's like three, four million, two and a half. I mean, it's it's crazy what's going on. I mean, the numbers are staggering.

Spotlight Party Listing Highlights

Steve Glick 4:08

I only knew that years ago. I would have been fine. But Vince, the summer's started off with a bang. Um I know we had a party at one of your listings with Spotlight Magazine at 27 Fresh Pond. That was a great way to kick off the summer. Tell us about that.

Vince Horcasitas 4:22

Yeah, amazing event. Um, you know, lots of people there. It was , you know, the house really, you know, showed amazing. We had a lot of great pictures of it. And you know, it's on 3.6 acres, , you know, 9,000 square feet, , eight bedrooms, eight baths. I mean, it just you know, you push a button, the doors open up. It was just like a great spot to highlight an amazing property. Yep. Um, you know, it's still on the market. Uh we're getting lots of showings on it, and , you know, it looks great.

Steve Glick 4:52

I mean, we packed it out, we had a lot of you know, fancy people there. It was your typical Hamptons party, but it just really turned the house and brought it to life. You know, you're seeing all the activity that's going on. It lit up at night. It's just beautiful, modern. So I'm surprised it's still active. But look, it's July. I'm sure you're gonna get some new activity and new a lot of new showings over there at 27 Fresh

Open Houses That Win Contracts

Steve Glick 5:15

Pond. Um, talk to us about a couple listings that recently went into contract. Um 35 Sunset. People, right?

Vince Horcasitas 5:22

We we jumped right on that. We started having three open houses every weekend. The team was really strong on it, and , we ended up selling it through through a person that came through the open house.

Steve Glick 5:33

Yeah, and that brings up a great story. You know, we were talking to some of your teammates. You know, they had the open house on a Father's Day weekend, on Sunday, on Father's Day, and a lot of agents, you know, take the time off, or they don't really push open houses, they don't believe in open houses. But you guys and your team, you guys love open houses, right? That's the thing you guys do every single week.

Vince Horcasitas 5:54

We do 10, 12 open houses every week. We're you know, we we recently sold 28 lighthouse also. That's in contract. And you know, we kept pumping out the open houses on that. And so we're happy, you know, new construction in Sag Harbor. A couple I have one more listing there that's brand new. That's that that's a very good deal. It's about seven houses from a Bay Beach, 66 Hillside Drive East. Yep, you know, have open houses there this weekend again. You haven't seen it, the price is at 4.7 now. A lot of houses Peter Cook design.

Steve Glick 6:26

You represent a lot of properties and you're always keeping them open, you know, certainly on the weekends with you're not inconveniencing any homeowners, you know, open the house, give access to the people and to

New Construction Buyers Showing Up Early

Steve Glick 6:36

the agents. Uh Vince, you have also some new construction homes that are just being built and coming on the market soon, right?

Vince Horcasitas 6:43

Paramount is nearing you know construction on 136 Trelawney, which is Bridgehampton South, at an end of a cul-de-sac, sitting next to a reserve. So you have no one will build 2.4 acres with tennis. Uh we're probably 30 days out on that now. They're putting in the large trees. I mean, it's looking very stately. I saw it the other day. I took a picture of it, I shot it around to a few people, , showed it yesterday. Um, really, really, really special house.

Steve Glick 7:12

And you're getting showings on these houses that are under construction. Sometimes, you know, they people like to wait to see it built. Do you not get in the showings? But lately it's been they're they're ready to see it at any stage of construction, which is great.

Vince Horcasitas 7:24

We had a third showing on 84 Wainscot Hollow the other day, and they were just starting to put the windows in there, and that's really going to take shape. Uh, you could never get that kind of square footage on a property in Wainscott again. They changed the codes, it backs up to a reserve. The town bought the reserve in front of it, bought all the land in front of it. So , another Peter Cook design on that. Really, really special property.

Steve Glick 7:48

It's built by Paramount Development Group. And when is so that one's like you said, the one that's like, Yeah, we're looking later.

Vince Horcasitas 7:53

That's behind Trelawani. Trelawney is is the first one that'll be done, and then Wayne Scott Hollow will follow, and probably the next three months that'll be done.

Andrew Doud 8:00

I love the location on that house.

Steve Glick 8:02

That's a great it's amazing to see the transformation as you drive by and see these houses week over week. How these houses get built. And a house at this volume, a $20 million home, is a lot different getting watching it get built than a house for like a million dollars. So it's really cool to see how it grows every single week. Um, and I can't wait to see the finished product on these.

Andrew Doud 8:22

Done a lot of videos with Vince standing at a foundation, and then you know, a couple months later, there we are at a completed house putting together the final product. It's crazy.

Steve Glick 8:30

And someone could really come in now and watch it transform into their personal house, and there's even options to like customize it if need be, you know, at this stage of the game. So I I'm not surprised you're getting calls on these properties.

Staging Strategy And Favorite Listings

Andrew Doud 8:43

Especially when you're working on the phone.

Vince Horcasitas 8:44

We're putting in furniture in these houses now when they're done with new construction, which is really making the difference. Yes, 148 middle line. We just just staged that house. It looks, you know, it was a a big 11-foot ceilings and large spaces, and now that the furniture's in on the property really, really changes the whole thing on it. I love that property.

Steve Glick 9:02

We had the social life magazine party there for Memorial Day weekend, and place was packed, typical Hamptons party, and now there's furniture in it. Yeah, I can't wait to see it again.

Andrew Doud 9:14

I like it.

Steve Glick 9:14

Uh what do you think, Dave? What do you you like that house, right? One point of the city.

Vince Horcasitas 9:17

Well, your favorite, Dave, is your favorite is your favorite is Connor on 73 Jericho, right?

Dave Rattiner 9:22

I I think that is just such a beautiful house. I mean, in terms of the location, and Connor is such a good builder. That's the best house, Gregor.

Vince Horcasitas 9:30

That's the best house Greg Connors built. I mean, it really is it's it's it's out of all the houses I've been associated with him. When if you go check that out, I have a showing there, a second showing today there at 1 o'clock. Special, special property.

Steve Glick 9:41

Yeah, yeah. My my property I love 54 Cobb, right? You have this property that's cool on the water. It's beautiful in Warnemell. You got private street. Gotta check out 54 Cobb on the process.

Vince Horcasitas 9:54

It's the best waterfront property for sure. I mean, when you look around for waterfront and you look at the prices, I mean, I'm shocked that that property is still still available.

Andrew Doud 10:02

It'll go. That's a great one.

Weekly Market Numbers And Inventory

Andrew Doud 10:04

So long. Let's talk big picture. Uh Steve, what do you got as far as the numbers?

Steve Glick 10:08

18 listings in contract this past week, which is lower than we typically see. However, it was you know coming into July, and people are traveling to the Hamptons and celebrating the holiday. Nonetheless, this time last year there were 33, a decrease of 45%. Two years ago there were 29 listings, a decrease of 38%. The breakdown of the 18 transactions, one over 20, one between 10 and 15, one between 5 and 10, 7 between 3 and 5, one between 2 and 3, 4 between 1 and 2, 300 million. Dollar volume was 88 million. Last year was 185 million, decrease of 52%. Two years ago, the dollar volume was 136 million, decrease of 35%, but there were 32 new listings that came onto the market, increasing our inventory by 14 listings. Out of those 32 new listings, four were between five and ten million, fourteen between three and five. So a lot of inventory there in the three to five million dollar category, four between two and three, seven between one and two. And Andrew, there were three listings under a million dollars. They're still there, they still exist, right? Um the inventory is at 1,735 total listings, 1,383 active, so just under 1,400, and 352 in contract. So steady week. A lot of new listings coming on. Listings going into contract. This is very healthy market.

Andrew Doud 11:27

There you go. Um what do you got going on this weekend?

Weekend Events And Local Picks

Dave Rattiner 11:31

Lots of things. You know, I'm looking at the Steven Talk House, like the the staff here, the younger staff. Man, do they love the talkhouse? They're there.

Steve Glick 11:38

I think Dave Matthews was there last night.

Dave Rattiner 11:40

No, it was the it was it was a a band, like what is it called where they protect. A tribute band. A tribute. Yeah, yeah. Ah, see, but a really good one. Like a really good tribute band. Got me fooled. Yeah, sounded just like them. Yeah. So but the Steven Talkhouse, you know, I'm looking at the calendar for the Steven Talkhouse. It's unbelievable. July 10th, you have the candy shop band, you have Rap Boys on July 11th, ticket start at 56 bucks, and also on July 11th, you have Pink Lightning. But what's really cool is Steven Talkhouse for the locals on Sundays for 10 bucks, you can go do reggae night with Winston Irie at 10 p.m. So if you want to ride out the night Sunday night, that's a great great evening at the Stephen Talkhouse. Uh if you're looking for something a little bit lighter, you have Best of the Second City, which is Saturday, July 11th at Guildhall from 8 p.m. to 9 45 p.m. And if you go all the way out to West Hampton Beach, way, way out there, Darren Chris is going to be performing. He's a Broadway actor. Um he's been in a couple of hit shows like Glee, he's an Emmy Award-winning guy. Uh he's performing July 11th at 8 p.m. at the West Hampton Beach Performing Arts Center. And then I want to give a shout-out this week. The restaurant of the week this week is Lulu's, man. Lulu's unbelievable restaurant in Sarg Harbor, potentially my favorite. It's in the top five. You're going there this weekend, right? Yeah, it's in the top five. So we're gonna give a shout out to Lulu's. That's a great restaurant in Sag Harbor. Who's at a surf lodge?

Steve Glick 13:10

Who's at Surf Lodge this weekend? Snoop Dogg was last weekend. How do you how do you surf Lodge if you want?

Dave Rattiner 13:16

Well, are you planning on going? No. No? So why do you want to know? Just fantasizing about going. Really? It's the dream, right? We should go once. Yeah. Maybe we could do like a podcast.

Vince Horcasitas 13:28

Get a table. Come on. Yeah, maybe a bottle service will tell you. Maybe we need some bottles.

Dave Rattiner 13:33

Maybe we do a podcast, you know. It's like it's like a once-in-a-lifetime thing. Well, the bands there are. I'm sure you know, I'm sure you're a big fan of Cassian. No. You love Cassian, right? I don't know if Cassian. What about? Well, he's playing. What about he's so Cassian's playing on the 11th? Nope. What about Brunello? You like Brunello, right? No. He's amazing. You don't like Brunello? Brunello, look at this guy. He's a great guy. He's great, great guy.

Andrew Doud 13:59

Anybody from the early 2000s scene? Is anybody like, are we on like you know Fairwell tours yet?

Dave Rattiner 14:04

Brunello at 4 p.m. Tickets are 113 bucks. Deck tickets are 339 bucks, or if you'd like a beach table, 3,000 bucks.

Steve Glick 14:14

3,000 bucks. There you go. Bam. Go. That's all right.

Dave Rattiner 14:16

We'll all throw in a thousand. We'll stay there for an hour. We'll say, what the hell do we just do? And we'll go, and then we'll leave.

Steve Glick 14:22

That doesn't include drinks.

Dave Rattiner 14:24

Yeah, that's all right. You know? Wow. Um remember in the olden days, you know, when we were in the in our 20s, in our 20s, you know, you can remember coverage you got there.

Vince Horcasitas 14:33

Has anybody been to Bagatel in Montauk yet?

Dave Rattiner 14:36

I haven't heard such good things about I I get to Montauk twice a summer.

Steve Glick 14:40

We don't get out much on this side of the table.

Dave Rattiner 14:42

I get to Montauk twice. It's like it's terrible.

Steve Glick 14:45

It's terrible. I see it on Instagram, so it looks awesome. That's how I live my life in the hammock.

Andrew Doud 14:50

My my life was Disney last week, so like you know, that's that's where I was.

Steve Glick 14:54

Baggatel.

Andrew Doud 14:55

The opposite of cool. Yeah.

Dave Rattiner 14:57

We should pick a day. I like I now that we're in our 40s. Well you go among I like the day parties. Day drinking.

Andrew Doud 15:05

You can't go on the weekends.

Dave Rattiner 15:06

I like the day parties. The evening parties, I'm ready for bed. Uh for sleeping. I'm ready for bed.

Andrew Doud 15:11

Oh, that kind of day.

Dave Rattiner 15:12

Not like weekday. You're talking about. No, you're saying day. Yeah, yeah. Drink during the day, you sleep during the evening.

Andrew Doud 15:17

You sleep at night, you know? Can I be in bed by nine?

Dave Rattiner 15:19

Yeah, exactly.

Andrew Doud 15:20

Early bird special. Yeah.

Dave Rattiner 15:22

Yeah.

Andrew Doud 15:24

Do you have a senior citizen's discount hour? For over 40.

Rapid-Fire Wrap-Up And Favorites

Dave Rattiner 15:27

Um, but it's all good. That's what's going on in the Hantons.

Andrew Doud 15:30

I love it.

Dave Rattiner 15:31

Um then what are we what what else are we doing? Are you still doing a Pilates, Vince? You still working out? Are you still doing that stuff?

Vince Horcasitas 15:37

Uh no, I haven't done a lot of Pilates. You know, I haven't I have a machine. I've been on, I've been on the down low. I've been getting over. I've just finished my last dose of amoxicillin, so I'm through the woods. Okay, okay. He's he's a tennis.

Steve Glick 15:49

What's your favorite restaurant? I think I know the answer. Oh, there it is. I knew that answer. What's your order? What do you get? What's your go-to order at Bilboquet?

Vince Horcasitas 15:59

I like the chicken.

Steve Glick 16:00

The Cajun chicken, right? Yeah, Cajun chicken. We can't go wrong with today. Sidney said that last week. That's it's two in a row.

Dave Rattiner 16:06

All right, Bilbouquet. You're always satisfied with the best. There you go. He has very simple taste. I like it.

Andrew Doud 16:11

Let's bend on that. All right. Everybody, thanks for listening. Vince, thanks for joining us. Uh good luck with the rest of the year. It sounds like you guys got it going on, so it's great. Um, until next week, I'm Andrew Dowd. That's what's happening in the Hamptons.