Town and Country carefully chooses its professionals. Judi Desiderio’s expertise and Quartery East End Market Insight reports are sought after sources of information. And information is what clients and customers alike need more than anything else for the most important business decisions people make: Real Estate decisions. Buy or sell? Hold on and rent/lease? How do I price my property if I decide to sell? How long are properties on the market? Are we past the bottom of the Market? No other reports more closely follow the specific East End, South Fork and North Fork, Real Estate Markets than Judi Desiderio’s reports – more than just statistics, because they include Judi’s daily experience as well.

But our experience also shows in the press quotes of our associates: Cathleen Doldon was interviewed by Long Island Business News , I was quoted in the Suffolk Times last week on local RE conditions. Many of our listings were featured in articles in Newsday and other newspapers and magazines.

Local papers have covered lots of events our brokers participate in or orgainzed, such as Newsday’s article on the Art Openings for Hamptons Artists in the Southold Office of Town and Country!

So don’t just take it from us how good our associates are: Take it from the press!

The National Association of Realtors stated that its seasonally adjusted index of sales agreements for sales of previously owned homes fell from 110.9 to 77.6 April to May respectively, which was also 15.9% lower than the same month the year prior. This national statistic clearly shows the power of the government incentives which expired. What baffles me though, is why the government set up housing to take such a blow…

You don’t need to be a genius to know that in a fragile economy such as this incentives are like bandaids, and if you rip them off too soon you bleed! Sometimes the injury is even worse due to this action… From day 1 I questioned why they didn’t ‘phase out’ all incentive programs.

BIG MISTAKE!  I wonder what the next move is?

Fortunately, our little microsm of a market here in the East End is somewhat insulated and is not experiencing what other markets are but the over all buyer confidence in the old American Dream of ‘Home Ownership” is taking quite a beating here.

Will someone up there on that hill use their head please.. don’t rip off bandaids in this environment,, rather,, change the dressings wisely until we are out of the woods and the wound is healed.

One clear indicator that East End real estate is bucking the National trend is the tally collected by the 5 East End towns — $19.64 Million.

That is more than twice the $7.85 Million collected for the same period last year! In fact the number of properties subject to this tax rose from 1,566 for the first 4 months in 2009 to 1,991 same period this year– just over 25% increase.

To date the Community Preservation Fund has collected a wopping $624 Million for land acquitions

Long Island posted the firstgain in jobs in 2 years. 6,700 to be exact! Long Island’s unemployment rate is now 6.6%,, at the height (February it was 7.9% which was the highest rate since 1992. This is music to the ears of all local commerce… 

Leisure & Hospitality sector experienced the greatest growth by adding 5,500 jobs.

NYC’s unemployment rate dropped to 9.8% in April from 9.9% in March,, not much of a recovery but at least stable.

Long Island’s economy should be emerging from this great recession a head of the rest of the state & country.

Don’t miss out.. you’ll be kicking your self and talking about the house (or property) you should’ve, could’ve, would’ve bought "back in 2010!"

The stats are in, the number of home sale buyers who agree to purchase a previously occupied home rose sharply in February according to the National Association of Realtors– far greater than predictions– The seasonally adjusted index of "O&A’s" (offer & acceptance) rose 8.2% from January to a February reading of 97.6. January’s reading was 90.2.

Here on Long Island we saw 1,555 contracts in February which was a 28.5% increase from January’s 1,210 according to MLS. These MLSLI (Multiple Listing Service of Long Island) are comparable to the NAR (National Association of Realtors) report on O&A’s accross the country.

the spring selling season is off to the races… don’t get left in the dust!

It may seem so confusing with home sale reports coming at you from all different sources with all different results.

So what is a seller and buyer to do?? As a Real Estate Broker who has been publishing Market Reports for many years,, the answer to that is.. #1- know your source #2- get specific! Your source should be someone working in the field for a minimum of 10-20 years with great success AND the reports you review should be specific to your area of interest. In our Town & Country Home Sales Reports for the Hamptons and the North Fork, in addition to consolidating the numbers, I break each report down to inspect different markets with in each market then monitor the number of home sales, the median home sale price, total sales volume AND the number of home sales within 6 different price catagories. Visit www.1TownandCountry.com/Reports to view Quarterly and Year End Reports.

While nationally, reports have indicated home sales were down, the National Association of Realtors just published a report indicating MLS statistics show Long Island realized a 13.4% jump in home sales in February 2010 compared with the same period one year earlier.

In fact all of Long Island was up 13% year over year.

Such information is crutial for both buyers & sellers when entering negotiations. Buyers reading national home sale reports may believe they are the ONLY buyer and lose the house due to inappropriate information…

I always reccomend buyers and sellers do their home work and confer with experienced knowlegable professionals… after all it is one of your greatest purchases in life.

With the spring break behind us, the summer rental market is sizzling this year, quite a change from last year when many homeowners remained without viewings…or tenants, as the summer months came and went. There are many wonderful opportunities for your summer vacation rental and I’m finding them for customers for my next weekends customers.   

I’m here to report with great enthusiasm that things have changed dramatically for this coming summer season.  Properties are renting and homeowners and renters are delighted.  The surge of rental transactions despite previous weeks of snowstorms and hurricane like winds and rains has not dampened the spirits of those eager to see spring and summer ushered in.  Plans to enjoy the most wonderful beaches in America has created a "wave" of summer renters who are also seriously contemplating purchasing a home, as the interest rates remain steady, if only for a short time more.

As I do my research to look up listings and preview those I am about to show to rental customers, I am both pleased and a bit frustrated to find so many have already rented.  As a result, fewer homeowners are ringing my iPhone and asking me about the current rental market. Still there remain many fantastic summer rental properties that you will fall in love with…and may even decide you want to own!  

Come on out and select from our many hundreds of beautiful homes for rent…from a small summer cottage to a luxurious estate…we have them all!  I’m here to show you your dream retreat!   Remember, last year is just that…last year…we’re a happy Hamptons again!

Susan McGraw Keber  Associate Broker SVP  Town & Country Real Estate  Southampton Office