Since people are always asking me about real estate and lifestyle matters, we introduced a light and fun monthly Q&A about all sorts of topics.
With low inventory, what are alternatives to securing residential property in the Hamptons? Are vacant lots for sale, and do you recommend new construction vs. waiting for the right existing home to become available? Is land scarce?
“Though the region’s overall inventory remains low, and therefore, its sales volume, inventory has grown a bit during this first half of the year, and the buyer pool in the wings has stepped in to purchase many of these opportunities. Vacant lots are hard to come by. They’re often snapped up by developers, which makes up for some percentage of the deal flow. As for waiting, that really depends on how specific one is about location; flexibility on this factor can provide more options and opportunity.
How have home searches and negotiation tactics changed given the market’s current state, and how can one be prepared for optimal results?
“This can be challenging given that many of the public search sites are not updated, and at least one service no longer operates and creates confusion. A seasoned, in-touch broker is a more reliable choice.”
Should one consider an emerging or overlooked area in the East End? What do you recommend?
“There are hidden gems of small waterfront communities that are full of generational owners moving on now. We are seeing a transformation of architecture and house size in some cases, which poses challenges for maintaining a balance. Our Villages have historically had a better handle on this growth.”
Father’s Day plans
“My niece is getting married the evening before, so we will be surrounded by family for that weekend. An early morning SoulCycle class with my son Andrew and a breakfast afterward is planned.”
