Andrew Doud 0:08

It is Thursday, everyone. I'm Mandar Dow. 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 have Mr. Steve Glick, Dave Retiner, and today Miss Jackie Lowy. How are you?

SPEAKER_03 0:27

I'm great. You're busy. I'm super busy.

Andrew Doud 0:30

It's good to be busy.

SPEAKER_03 0:30

Yeah, it is good to be busy. It's that time of year. I think that probably that week between the end of July and beginning of August is one of the busiest weeks for real estate agents out here because you have the transition of rental months, you have July tenants leaving, you have August tenants coming, and you have everybody who's been thinking about buying homes for months saying, wow, it's the end of the summer. I better get to it. So you have the sales business, particularly the showing business, really picking up this time of year. So I would say that uh real estate agents like myself who have moved out here full time. I've lived here for 26 years full time. About this time of year, I'm saying, oh my God, it's the end of the summer and it doesn't feel like summer. I've got to schedule some time to enjoy all of the fabulous things that everyone else is moving here for. So I'm trying to find an hour here and there every day to either go out in our boat, go fishing, go to the beach, something else that's to actually enjoy the Yeah, because we, you know, we live it, we sell this dream, and we we all have found ourselves here. I'm guessing you guys too, because it's a great place to live. So it's super important.

Steve Glick 1:41

The summer goes so quick, too. You know, some say the busiest month is August. You know, I know you do a lot of rentals, and it's always been is July the busier most requested month? Is it August? Um, what do you see on that?

SPEAKER_03 1:53

Well, it's really interesting that you say that it goes back and forth. Some years it's a really hot July, other years it's a really hot August. This year, August is different because there's a full extra week uh for Labor Day. Last year there was like an extra day. It's a full extra week this year. So people that are renting in August are actually getting five weeks of Hampton's funds. So I'm saying August is being super busy. Yep. And it really depends. You have families who have uh kids going back to college, they tend to be more of July renters, and then others who are out here who don't have that concern are are taking advantage of that extra week in August rental.

Steve Glick 2:30

So I'm you do a lot of rental um rental listings. Are you still putting people into rentals this season? Or is that pretty much stopped and then now they're looking for next season?

SPEAKER_03 2:39

Believe it or not, I am still doing this season.

Steve Glick 2:41

Wow, really? Okay.

SPEAKER_03 2:42

I'm still doing this season. I am getting phone calls. In fact, I got one last night asking for this week. Wow, can you get some can you get somebody in? Absolutely.

Steve Glick 2:51

And can you do that? How fast can you get somebody into a rental?

SPEAKER_03 2:54

Oh my God, I think my record is in a day.

Steve Glick 2:57

Wow, really?

SPEAKER_03 2:58

The biggest outliers on getting people into renters qu uh rentals quickly is just insurance and then having the financial piece of it transact quickly enough to do it. But I can get a lease done if people are are quick enough. Ready to go. You're able to do it.

Steve Glick 3:13

It's the other other issues that you know it will take like an extra day or so.

SPEAKER_03 3:18

Yeah, I mean, ideally, ideally you have three, four days a week to do it, but but absolutely I think what we're seeing right now is a mix of people who who want to come out. Some wait to the last minute to try and get the best deals as a rental strategy. Others, plans have changed and they find themselves here. So I'm absolutely still doing rentals out here.

Steve Glick 3:40

And people are people already locking up a rental for next season?

SPEAKER_03 3:43

Not as much yet. Some do. I have some repeat tenants who lock up pretty quickly or looking at year-round or have decided to say for the off season. I do have people looking already for next year, but that's not the biggest hunk of the business right now. Right now, it's mostly um last-minute rentals and people who are wanting extensions. I mean, I just, for example, um just put on the market a fabulous new exclusive rental in East Hampton 17 Daring Lane. Brand new construction. I mean, they've barely even live there. It's a gorgeous seven-bedroom home, sauna, gym, media room, and that's available for the very first time. Um, they closed on the house, have just furnished it. So that's new to the rental market, and there's been a lot of excitement about that, but that's available.

Steve Glick 4:33

And this offers community tennis, right?

SPEAKER_03 4:34

That has community tennis.

Steve Glick 4:36

So that's interesting. So there's a lot of like different communities here in the Hamptons that offer different things. And it's kind of like if you know, you know type of situation. So talk to us about some of those like micro communities that exist.

SPEAKER_03 4:49

Yeah, absolutely. And and you're exactly right. Um, there are these lovely little communities throughout throughout the Hamptons. The one you're talking about is uh the Ranger Estate in East Hampton, where 17 Daring is, where there's community shared tennis. I also have a sales listing um in 145 Seafarm Lane in Bridgehampton, which is fabulous. It's one of my favorite little communities here. It's located right off Lumber Lane. And as you both know, um Lumber Lane, the entrance point to real estate in Lumber Lane, is probably now, you know, seven, eight million dollars. And Chris Farrell is building a beautiful new home on Lumber Lane. I I think it's listed for 21 million. Um but you have this fabulous community of 145 Seafarm Lane, where you have three tennis courts, it's a homeowners association, it's a great place to ride bikes, to um just relax in a quiet enclave. And you know, you have Starbucks in Bridge, which is a mile and a half down the road, um, and you're close to Sag Harbor. So that's a turnkey property that there's been a lot of excitement about.

Dave Rattiner 6:02

Uh this is like a steal at 3.2.

SPEAKER_03 6:04

Yeah, I think I to get into Bridge Hampton North uh at the price that we have that listed, it's at 3295 is is really something else. And and we were talking about rentals before. I mean, this is a community that has a very strong rental history because everyone wants to be in Bridge North because you're so close to to everything there. So it's one of my it's one of the favorite listings that I have.

Dave Rattiner 6:28

Any property that's near like a village where you can just like walk around the village or you know, stroll however you get around, you can uh you you can find that those houses are are super appealing to a certain a certain amount of buyers because they just want to be where the action is.

SPEAKER_03 6:46

Absolutely. I I I mean you have so many people coming from the city here. I think that um uh being centrally located is is a wonderful advantage. I think all of the villages always sell very well um and being close to that, and you know, in terms of other communities um that have really picked up steam, I'm bringing on a listing uh uh next week in a community called Settlers Landing, which is north of East Hampton Village. It's a delicious waterfront community that primarily features half acre, 0.7 acre lots, and it has the values there have just gone through the roof in the last few years because people have discovered that you can have this beautiful home, have private access to all of the beautiful bay beaches, three mile harbor, kayaking, everything that you want in that that community, and still be like nine minutes from the heart of East Hampton village.

Steve Glick 7:46

Yeah, and it's like you really got to work with a real estate agent like yourself to like highlight and showcase all these different little communities, you know. So it's like you really understand what the person is looking for out of their Hamptons home, and then you find them the right community. So, like, look just looking at listings online, you're not really understanding or getting the sense which ones have the dock available or water access or community tennis or community parks. So um I think it's really advantageous for someone to just reach out to yourself and like guide them through the Hamptons market.

SPEAKER_03 8:17

Well, thank you. Of course they should reach out to you. Yeah, seem to know it really well.

Andrew Doud 8:21

To your point. I mean, you've been you've been out here for a while, you've been doing this for a while. You know, it's like you've been able to see the trends, see the areas that are coming up in value, and be able to relay that to clients and say, listen, if you if this is what you're looking for, if this is the hamlet you want to be in, here's the area I would suggest. Here's where there's value, it's coming up, here's where it's a good buy, here's where it's overpriced or whatever the case may be. I mean, that's where having a trusted agent like Jackie would be advantageous for you as a buyer. Um so okay, so is there any other listings we want to get to before we go big picture to a lot of them. Yeah.

Steve Glick 8:55

Yeah.

Andrew Doud 8:56

Um, all right, so let's talk big picture. Let's go back.

Steve Glick 8:58

So this past week, 25 listings went into contract from West Hampton to Montauk. Last year, 37. So it's a decrease of 32%. Two years ago there were 29 listings, so a decrease there of 14%. The breakdown of the 25 transactions this week, one between 15 and 20 million, one between 10 and 15 million, seven between five and ten, which is pretty high in that category, two between three and five million, four between two and three million, nine between one and two million, and just one under a million dollars went into contract. The dollar volume with all those listings was $112 million. Last year was $166 million, so decrease in dollar volume of 33%. And two years ago, the dollar volume was $95 million, so it increased there of 18%. But there were 38 new listings that hit the market this week. So that's pretty high to see. That increases the inventory by 13 listings, and the breakdown of those 38 new listings that came on, two of those were over 20 million dollars, three between 10 and 15 million, eight between five and ten, four between three and five, ten between two and three, nine between one and two, and there were just two properties under a million dollars that came onto the market. The inventory is at 1,740 total listings, $1,360 active, and $380 in contract. So another busy week of new inventory coming onto the market, but we're still seeing the inventory actively just under $1,400, which is still left. So as much as we're seeing these new listings coming on, there's the same amount of activity of listing is going into contracts. So interesting. Pretty healthy, pretty steady.

Dave Rattiner 10:32

Same story each week.

Andrew Doud 10:34

Yeah.

Steve Glick 10:34

You know, it's interesting. Pretty much, dude.

Andrew Doud 10:38

Um busy. Look, August is like is it. I mean, this is like the month.

Dave Rattiner 10:43

But you can there's a that little, it's a little bit slightly cooler. You can just you can take you can sense that a little bit of cooler air. I woke up the m the other day and I felt it a little bit. I was like, oh, we're we're getting there. We're getting there.

Andrew Doud 10:58

We're fine.

SPEAKER_03 10:58

We have a full office. Yeah, we have a full week.

Dave Rattiner 11:01

You can feel it. You can feel the difference between July and August for sure.

Andrew Doud 11:05

Well, it's uh it it has look, it's been nice. So what are we what are we doing this weekend?

Dave Rattiner 11:10

This weekend, the big thing to do is the East Hampton Library's author night. That is August 8th, 5 to 7:30 p.m. You must go. Saunders is a big sponsor of this. Uh, some of the famous authors that will be there. You know what I'm really excited about? Is uh Neil deGrasse Tyson.

Andrew Doud 11:28

Oh, that guy's great.

Dave Rattiner 11:29

You know, that's pretty cool. But also uh Beth Stern will be there, Adam Ross will be there, Sabrina Rudin. The list goes on and on and on. It's in a big white tent, and you just walk around and meet your favorite author and buy their book and get it signed and get a picture.

SPEAKER_03 11:44

East Hampton Library, which is such an important thing to do out here.

Dave Rattiner 11:47

Yeah, right. And that the East Hampton Library PS is just it's huge. It's like it's like a place, it's it's it's a great place to go. It's it's it's so historic, it's so beautiful, everything's been restored. They have uh they have a kids area that's like I mean, I I drive I live in Southampton, I drive all the way to East Hampton just to go to that library. It's great. Um, another East Hampton event happening is uh after you go to the East Hampton Library on August 8th, from at 5 o'clock, you can go and do tacos and tequila for a good cause at the Blue Parrot in support of Green Beats, which is uh a charity that is committed to empowering kids to navigate the modern food system. So that's that's a good thing, I guess. And then I also wanted to mention I went out to this restaurant in East Hampton. I have never been to it. Have you been to this restaurant at Cedar Point in East the Pizza Place?

SPEAKER_03 12:43

Yeah, you see that you say that. Um my husband went there the other day and he thought it was a lot of fun. That's that's new this year out at the point there at Cedar Point Park.

Dave Rattiner 12:52

So fun. I mean, it's in the middle of nowhere in Cedar Point. I mean, it's like really because it's the state park deep in the woods, you can go camping there even if you want to.

SPEAKER_03 12:59

They have glamping now there.

Dave Rattiner 13:00

Yeah, they have and they have yeah, they have glamping, which is that's my kind of camping. I like too. Um, but we had such a good time. The food was so great. I mean, I really recommend this place. Um highly recommend it. It's the Cedar Point Pizza and Spirits, you know, right at most beautiful, beautiful sunset, uh overlooking, you know, you can kind of see Sag Harbor in the distance from there. Yeah. And um the pizza's really great, and they had a whole other menu, great bar, great scene, reggae music, the string lights, the whole thing. Really good vibe there. So I want to give a shout out to them for this weekend.

Andrew Doud 13:36

Great, nice.

Dave Rattiner 13:37

That's what's going on in the Hamptons.

Andrew Doud 13:39

All right. Uh, should we uh get a uh restaurant from Jackie? What's your current restaurant?

Dave Rattiner 13:44

Yeah, what's your current go to?

SPEAKER_03 13:47

Oh my goodness, you're putting me on the spot because I have so many friends in that business. Uh there's so many great.

Andrew Doud 13:54

Your your most recent one you've been to, then.

SPEAKER_03 13:57

Uh well, you know, look, I live in East Hampton. So summertimes I tend to stay close to home. Uh my favorite restaurant is um Shea Boat. That's packing a picnic dinner and going out on our boat in the middle of Gardner's Shea Boat. In the middle of Gardner's. We did that the other night and um on Gardner's Bay and packed dinner and then jumped into the bay afterwards. And then it was just perfection. Other than that, yeah. But when I don't do Shea Boat, what do I love? I love, I mean, look, you can't beat Bostwick's great family business. I go there, I see all of my kids' friends, waiter and waitressing. That's fun. I love CC. Um they're always great to me there. I had a good meal the other day at um Wyan. I don't even know how to pronounce it. I'm sort of embarrassed. Wyan and Made. Um that's also right there on Three Mile Harbor. Had a great meal there.

Dave Rattiner 14:56

Oh, really?

SPEAKER_03 14:56

I actually went out to Mavericks in Montauk the other day.

Dave Rattiner 15:00

How was that? I've never been there. Who always wanted to go there?

SPEAKER_03 15:02

Oh my God. I had a fabulous meal there. So nice, beautiful sunset, delicious food. Uh, chef is really into localism and patronizing.

Dave Rattiner 15:14

He was a good he was a good track track athlete.

SPEAKER_03 15:16

Yeah, there you go. It was it was a great meal.

Dave Rattiner 15:17

You gotta do a review there, Dave. I gotta get out there, Jeremy Blatsing. He's he's he's like a longtime chef now, you know. He's been doing that.

SPEAKER_03 15:24

And you know, uh so many of these local restaurant owners, um, you know, you see that at Amon and Bridge, you see that with Jason, you see so many of them here are so committed to the local community and and to giving back and and are always there for fundraisers, you know, the whole honest man restaurant group, Mark and Joe and that group, you know, at Nick and Tony's, I miss Coach A terribly. Um, they're all great at giving back to the community and always stepping up. So that's why I'm I'm always afraid to point out because all of them are so much of the fabric of this of this community.

Dave Rattiner 16:00

They just get better and better at it every year. Yeah, they're all every year. I I'm a big foodie, and it seems like Jackie, you know you know the restaurants really well.

Steve Glick 16:07

You know, rentals, the market, and and she navigated that question exceptionally well.

Andrew Doud 16:12

Wow, pick a favorite. Well, I can't.

SPEAKER_03 16:16

I want to go to all political. Hey, look, you know, what I would tell you, I would tell you this, and it's it's a part of the Hamptons that people that are here just for the summer don't always see. But I've lived out here full-time for over 26 years. And the Hamptons is not just about beautiful houses. The Hamptons is about a really tight-knit community that supports each other, that comes together. I met my husband, as some of you know, I've told talked about it before at the Stephen Talk House in Labor Day 1998. So we're coming up on to 28 years of meeting each other here. And, you know, Peter Honorkamp, who runs that, is front and center, supporting everyone in the community. I mean, he's done fundraisers there for people who needed a new set of teeth, you know, dentures. Um, but but really more seriously, started Soldier Ride for Wounded Warrior Project. And all of these restaurateurs, uh, I mean, Joe at Honest Man was so integral in advising East Hampton High School when we put together the new Bose's program for certification for food service workers. All of these restaurant tours out here are part of this community. And um bartenders, everyone in the world.

Dave Rattiner 17:25

Yeah, when they work hard and they're gonna be able to do that.

SPEAKER_03 17:26

When the clouds are crowds leave, everyone is really here for each other. And that's the reason why I, you know, I'm not pointing out one because I think they all have their place out here. And um this is a great community of people. And one of my favorite things is walking down the street. My friends laugh at me when they're with me and sort of because I say hi to everyone. They said, You know everyone, Jackie. And it's, you know, it's one of the really special things about about living out here and uh being part of a great community that's there for each other.

Andrew Doud 17:56

I there's no better way to end the podcast. That was well said. Thank you for joining us. There you go. We'll call that a podcast. Everybody have a great week, a great weekend. Don't forget author's night this weekend. Until next week, I'm Andrew Dowd. That's what's happening in the Hamptons.