June 18, 2013
Mala Sander, a senior vice president at The Corcoran Group.
Increasingly, sellers are saving time and tumult by appropriately pricing their homes from the start. “The trend is for properties to be more properly priced than they have been in the past,” says Corcoran Group SVP Mala Sander. “The sellers who are putting their houses on the market right now are not taking a flyer, if you will. They’re serious about selling.”
Proper pricing is reflective of sellers’ attention to key factors. “When setting a price, it’s really important to look at what’s actually traded, not what’s on the market,” explains Sander. “What your neighbor is asking and what the person down the street is asking doesn’t matter. What really matters is what things actually traded for. Everything else is wishful thinking.”
She advises: “Compare apples to apples if you can.” Those in the market should take an unbiased look at comparable sales, known as comps. She recommends comparing homes with corresponding features, such as those in the same village or with similar square footage or lot size, and quality and characteristics of particular neighborhoods.
Ultimately, though, there remains a trifle of the intangible. “It is an art, so there is a little bit of subjectiveness that goes into it,” Sander says. “You have to be really careful about how much subjectiveness you’re putting into it and how much reality you’re putting into it.” 155 Madison St., Sag Harbor, 899-0108
June 17, 2013 | by katy b. olson
Gioia DiPaolo, Douglas Elliman Real Estate managing director.
“Sag Harbor is very hot right now,” reports Gioia DiPaolo, managing director at Douglas Elliman Real Estate. Attributing the area’s rejuvenated popularity to an appealing abundance of recently debuted restaurants and condominium projects—plus a veritable It List of incoming residents and visitors— DiPaolo points out certain telltale trends in the area. “Renovation projects, especially sites that can accommodate a large house, pool, and pool house, are selling,” she notes. “And trophy properties upward of $3 million are selling.” >>Read More
June 14, 2013
May 23, 2013 | by christina pellegrini
Michael Schultz, The Corcoran Group SVP and associate real estate broker.
Those with an eye fixated on East End real estate know that the market has been depressed since the end of 2008. Since then the covetable properties have been snatched up at record-low prices. But there’s good news for Hamptons homeowners in the seller’s arena: The Corcoran Group SVP and associate real estate broker Michael Schultz says that this year’s sales numbers are swiftly approaching figures similar to 2007, a milestone year that peaked Hamptons real estate market trends. “I now see a lot of things have sold, particularly within 2012,” Schultz says. “Inventory is at the lowest level that it’s been since the crash in 2008.”>>Read More
May 23, 2013
Harald Grant, Sotheby’s International Realty SVP and associate broker
As 2013 ushers in a powerful upturn in the real estate market in the Hamptons, higher sales prices and lower inventory across the board set the stage for this season’s market wars. According to Sotheby’s International Realty SVP and associate broker Harald Grant, homes in Sagaponack in the mid-price sector of $6 million to $19 million are in the highest demand. And much of this land in Sagaponack is being purchased by builders who are putting up houses with modern interiors, he says. “The traditional home out here has been cloned,” says Grant. “It’s nice to see something different and that people are starting that trend.”>>Read More