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Updated: July 15, 2009, 8:27 am	Share    Print    Email

Property listed by The Corcoran Group. Images courtesy of Google Images

Southampton - Short and sweet, we hope before the holiday. The one that used to make me feel, perversely, that when it happened that summer was nearly over.

Local anecdote:

Now in the Cape in Chatham, MA oceanfront cottages are falling into the ocean. Now, this last week. But that isn't news for say those who had homes in Westhampton Dunes on the Ocean and Inlet. But what is interesting is that these are older cottages in Chatham are referred to as camps. Yep, camps! And we all know the founders out east here came down from Massachusetts, after taking off from Kent, England to that New England point. So is it any surprise that East Hampton had its summer "camps"? Not the kind we send our kids to, before you ask.
Years ago an old friend and broker Sue Steele, whose Dad was once town police chief, told me and showed me the summer camps - unheated - along the Harbor, Three Mile, of course.

"Every summer," Sue showed me, wrapping her arms around herself to show how tight the quarters were, for those 10 weeks from July 4th weekend through Labor Day - (yes that was the summer season then) "families, extended and immediate, all squeezed themselves into their summer camps, while they rented their home to pay for mortgages and winter expenses."

Well those local camps sold, they did not fall into the water. I bet they were all torn down, replaced, became prime for their sunset views, and maybe the new owners send their kids to summer camp in East Hampton.

Some people in the industry and in government are thinking about more than hot dogs, barbecues and family visits before this coming Fourth of July weekend. We keep getting listings from Oregon realtors. Have customers there guys and gals? They are offering a 10 percent commission, their email says. Well if nothing else, they read us on the west coast, so keep shipping it in.

Property courtesy of Prudential Douglas Elliman Real Estate.

Allegra Dioguardi, head of Style and Sold Home staging is in there plugging and making it happen for home sellers on the East End. She writes "Due to the huge success and 'standing room only' crowd at my Home Staging seminar at the Westhampton Beach Library I am offering a more comprehensive seminar on July 8 where I will offer tips and ideas covering the process of merchandising a home for sale. Attendees will learn how to command top dollar and potentially save months of showings by having a professionally staged home. I have assembled and will be joined by a team of professional home service experts, including: ER House Cleaning ; Packard Classic Painting ; Hampton Services Handy Man ; Hedges & Gardens Landscaping."

Keep on trucking, Allegra. You are hanging in there like your late Mom, Dorothy Crystal who was a prominent, professional broker in East End real estate. Jude Lyons Westhampton Beach Real Estate on the influence of weather. "Rain is killing us, just killing us - no one dying to get out here - Rain predicted all the time - doesn't matter if they are wrong, the prediction alone enough to kill us."

Tell me about that Jude. A season weekend gone is business lost. Cannot make it up. On the other hand you could be doing real estate in the Congo!

Thanks for the heads up, Jude, on that very high-end forced auction sale (by law enforcement) west of the canal. Prices did come to where they ought to have - in the multi-millions - so it wasn't the feared bargain basement event. Some people out there have the bucks, want to be out east, and will buy. You just hope it's in your life time.

And home sales are up for May nationally. There was an almost three percent bump. realtors everywhere are celebrating, praying it is not a blink but the beginning of the beginning.

News on Long Island from Pam Cordes tells us, County Executives Steve Levy and Tom Suozzi unveiled the status of the foreclosure crisis at the Long Island Housing Partnership's 21st Annual Meeting Today. Speaking about the foreclosure crisis on Long Island and how it is impacting the economic stability of communities they agreed with Peter Elkowitz, President and CEO of the Long Island Housing Partnership, that foreclosures contribute to a reduction in property values of the surrounding homes, according.

Suffolk County Executive Steve Levy and Nassau County Executive Thomas Suozzi gave a report just this past Monday as to what has been done so far to stem the tide of Long Island foreclosures and what is planned to repair the problem. When we get that report you will read about it.

Hey look, it is rough when appraisers have trouble finding timely comps for their appraisal reports. But we hope this summer for all of you will see bottom fisherman and investors and first time home buyers come out of the waiting room and jump in as they did in that auction mentioned above. Keep a list of your very best deals and advertise them. They don't go anywhere sitting in your desk. Good luck for the summer because East End real estate is a very tough, but nevertheless resilient, business.

• Lona Rubenstein is an accomplished author residing in East Hampton. Her new book, "Getting Back in the Game: Finding the Fountain of Youth in Cyberspace" can be found at local booksellers and online at www.gettingbackinthegame.com. For more real estate news and views contact Lona at lonafirst@aol.com.

Comments

North Sea Citizen from North Sea says:
Prices are still to inflated and most buyers are waiting for prices to drop in the key locations first: ie, south of the highway and waterfront. In every price point there is a home of value and they are slowly getting picked off. However the East End's primary buyer is a wall-streeter and with getting a bonus being out of vogue to layoffs, there simply are less buyers around. With more than 3 years of inventory on the table, its going to take awhile. The last one took more than three years for the market to pick back up.

Retired Bridgebroker from Bridgehampton says:
As someone who worked in real estate for a dozen or so years it seems to me this is the part of the same problem agents had when the internet got hot and you had to provide sharp photos that were well taken. At first all you saw were photos of houses with clothes lines up and cars with the door swung open - unkempt interiors etc. It's BEST FOOT FORWARD now - sure the economy is taking the biggest toll - but people who have money still are going to buy - it's a great investment - but they are going to buy the best and the brightest. I've never used staging professionally but I did often set out flowers, bake cookies in the oven and clean up my listings - this sounds like a more high powered version of that. Makes sense to use everything you have at your fingertips. Price has always been the sellers best friend - even when things were easy out there the houses priced right went first - but so did the ones that showed the best and the easiest. Use your heads- it's a whole new game now.

Home shopper from Noyac says:
Yes it is about price and it's about presentation too. Have you seen the way some of the houses are shown out here? I wouldn't sell my car without cleaning it up and taking my kids toys out of it. I'm appalled at the condition of some of the houses I've been shown AND the prices. An attractively presented house in my price range would certainly make me want to dig deeper in my pockets.

real estate agent from southampton says:
What is this woman talking about- rain has kept customers away- for sure- But the failing economy continues to have a dramatic impact on the real estate market- hello- jobless rate in June- up to nearly another 600,000- as the recession continues to worsen. One week summer rentals seem to be the only business most agents are getting. Sales are few and far between. Staging is all well and good- but PRICE is the bottom line for everyone. Truth and Honesty Lona, that's what we deserve-

Allegra Dioguardi from Sag Harbor says:
Lona, Thank you for your encouragement. Home Staging has not caught on as quickly here as it has in the rest of the country. I know it works because I've been merchandising homes to sell for 27 years. I'm convinced in the future it will be the "done" thing. I'm on a mission to educate. I know too that there are people who need help that are not even aware that it exists. I think my mom would be proud too. PS Thank you Kimo Stowell

Kimo Stowell from Honolulu Hawaii says:
Aloha Lona, Here in Hawaii we look to the East to spot trends and signs of a recovery. Although, we haven't been hit nearly as hard as the rest of the mainland we are eager to see a turn around. Congratulations to Ms. Allegra Dioguardi on her merchandising magic. One thing we do see here is that buyers are not waisting anytime on unstaged properties that have big to-do lists. In the past a waterfront property with the roof caving-in would sell above market value; not any more.

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