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Summer Rental Season Picking Up

By April 29, 2009March 7th, 2016No Comments

This from Tom MacNiven, manager, Prudential Douglas Elliman, East Hampton reports “at Prudential’s national convention in Las Vegas our Robin Kaplan and Josiane Fleming were honored as two of the top 100 producing agents/teams in the Prudential network out of 62,000 agents in theUnited States. “Prudential Douglas Elliman (Montauk to Manhattan) was named the number one producing company of 640 in the Prudential network of real estate affiliates.”

 

Now onto the state of the summer rental market — we asked about rental market because weekends were looking busy. Owners, buyers, landlords, renters, said the East End rental market is working.

 

Sheri Winter Clarry Senior Vice President & Associate Broker Corcoran Top Producer North Fork: “Really busy on the North Fork, rentals and sales. Things that are priced well are going to contract quickly. Some great deals to be had! Tons of activity, I am putting things into contract that are priced. Bad news is, that if something is priced well and buyers snooze, they will loose.”

 

Prudential’s Lori Barbaria: “Rental market has picked up. Did a lot more high end this year than ever before. Over a million dollars in total rent on three rentals. No recession there. Go figure? $75k and under is also busy. Looks like there will be a lot of summer traffic in the Hamptons”

 

John Healey Town & Country Bridgehampton: “Very busy last weekend. Many multiple offers. At one property I was the 10th showing of the day. Many will use their own homes this summer, renter will do shorter terms, rent and not travel.”

 

  1. Patricia Garrity, SVP President’s Council Corcoran Group Southampton: ” A thought from a 20 year veteran: Good analysis and correct pricing on new sale listings is key in this sluggish market. I listed a property in Southampton for $1.8m after analysis of comparables and competitive properties. We went into contract within two weeks . . . closed to the asking price. There are buyers and they are focused on responsible spending and good value. Seller’s need to be responsive to the market if they are serious.”

 

Town & Country’s CEO: Judi Desiderio: “Summer likely follow suit to this past ski season. Local mountains were booked solid! Skiers enjoyed VT, NH, Maine and Sugarbush in lieu of traveling out west or to Europe, thus we expect summer to be as busy as ever! The past few weeks T&C has written leases in every office. One office did 11 leases in 10 days: range from $30-500k.”

 

Mala Sander, Corcoran Group Sag Harbor: “A lot of people out last weekend! The Sag Harbor office did 14 rentals, many, near asking prices, weather helped. When warm in the city, the beach is where people want to be!Yes, well, Rentors are potential buyers and with the market so buyer-ready, we might see action this summer, because East End real estate is a strange roller coaster business.

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