Southampton, NY Real Estate News

By Paula Hathaway, REALTOR, LBA, ...A Local Expert in all The Hamptons
(Douglas Elliman Real Estate)
I CALLED THE GOLDMAN CHARGES IN ONE OF MY RECENT POSTS; THE WHOLE STORY FOLLOWS:  I wrote this post 3 weeks ago after seeing the tragic results of what the banks are now doing to troubled homeowners---people who are suffering from what the banks created in the first place; the whole subprime mess was created by them as their "Hedge Funds" were all betting on a housing collapse!!! Don't you ask yourself: "What is going on here?"....I have; I have asked as homeowners here in the Hamptons are being affected as never before by this massive failure of the housing market. I watch as solid citizens are threatened by foreclosure. This only reinforces the feeling I have that the banks have no intention to help homeowners keep their homes. 11 MILLION AMERICANS ARE IN FORECLOSURE!!!How Many Homeow...
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By Paula Hathaway, REALTOR, LBA, ...A Local Expert in all The Hamptons
(Douglas Elliman Real Estate)
NOTE: This is a re-write of a post from several weeks back--the timing was wrong so I wanted to run it past all of you again so that if any new ideas have come to the surface of late, you could share them. RECOVERY? Will that ever happen? Or are we in for 10 more years of this???   Have you asked yourself this question? Look back on the days when caution was a word we did not use much less act upon when it was needed the most. I could go into depth here, just covering all the gory details of how this recession began and how it has worsened as time goes on; but I will not do that. Instead, I would like to open up a discussion of just how we, as real estate professionals, are approaching the potential "2nd" housing dip that is projected by a handful of economists. A HANDFUL OF ECONOMISTS...
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By Paula Hathaway, REALTOR, LBA, ...A Local Expert in all The Hamptons
(Douglas Elliman Real Estate)
If you have a taste for America's earliest history and you yearn to live near the water, especially the bays, then you have found the right place! ... It's all about the Hampton's--Noyac and North Sea: A Real "Wonderland"! North Sea (Originally called Nord Sea) and Noyac are made up of a chain of tiny bay front communities that rim the water ways of the Great Peconic Bay and Little Peconic Bay and their tributaries. Miles and miles of protected wild life preserve link the grassy wetlands and calm, slow moving canals that identify this area for the visitor. Waterfowl, wild turkeys, cormorants and Long Island ducks populate these grasslands in abundance. Smaller rodents and other wild life populate the wooded areas and are found in great numbers as well. Here, in the Wonderland of the Ham...
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By Paula Hathaway, REALTOR, LBA, ...A Local Expert in all The Hamptons
(Douglas Elliman Real Estate)
How do we recover? What do you plan on doing if we have a "2nd dip"???  Have you asked yourself this question? Look back on the days when caution was a word we did not use much less act upon when it was needed the most. I could go into depth here, just covering all the gory details of how this recession began and how it has worsened as time goes on; but I will not do that. Instead,I would like to open up a discussion of just how we, as real estate professionals, are approaching the potential "2nd" housing dip that is projected by a handful of economisits. I don't have all the answers, but I think we need to talk about the potential and AR is the best place to do it, I think! We need all the thinking on this so that we can plan our next approach with our buyers and sellers....otherwise w...
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By Paula Hathaway, REALTOR, LBA, ...A Local Expert in all The Hamptons
(Douglas Elliman Real Estate)
* This is a question that we all have in the back of our heads..is it not??? Don't you wonder the same thing? Don't you ask yourself: "What is going on here?"....I have; I have asked as homeowners here in the Hamptons are being affected as never before by this massive failure of the housing market. I watch as solid citizens are threatened by foreclosure. This only reinforces the feeling I have that the banks have no intention to help homeowners keep their homes. 11 MILLION AMERICANS ARE IN FORECLOSURE!!!How Many Homeowners Losing Their Homes Will It Take??? Why does the Federal Government Not See What the Banks Are Doing?...Or Is It That They Just Don't Care Either?    IT'S A LITTLE LIKE BOWLING FOR DOLLARS: KNOCKING THEM DOWN ONE BY ONE FOR THE MONEY!! It has been recognized in this ma...
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By Paula Hathaway, REALTOR, LBA, ...A Local Expert in all The Hamptons
(Douglas Elliman Real Estate)
  Nowhere will you find the ultimate, breathtaking beauty of the beach dunes, the white sand and the roar of the ocean like you will find in Southampton Village, New York. Southampton New york is a throwback to days gone-by.....and not just a playground for the Rich and Famous!!!  The "good old days" seem like more than a century away when in reality it is a mere 30 odd years that you can look back on and see the same easy life style that drew great numbers of people here in the first place. Before the 1980s, the changes were few and far between; life remained as uncomplicated as it was in the late 1700s. This was when lives of leisure began here.  The upscale, wealthy "barons" of the early American families from New York City began to come by train to the seaside for time to gather wit...
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By Paula Hathaway, REALTOR, LBA, ...A Local Expert in all The Hamptons
(Douglas Elliman Real Estate)
A friend of mine, let's call him Alan, just came back from Europe and he was filled with stories of his adventures flying in these crazy times. I haven't been to Europe in so long that I was anxious to hear how things are---if the Italian food is still just as good as it used to be and if the French are still as "snooty" as they were when I used to spend time in Paris. They were only "snooty" in Paris by the way---never in the country--I spent many a fine sunny day at the table of a French farmer and his family as I traveled through Provance and as I visited the rolling farm lands filled with purple clouds of lavender.   As we talked, he told me about his Rome Airport experience...I have to share it with all of you; here's a laugh for a sunny day in Rome....if you have ever been to Euro...
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By Paula Hathaway, REALTOR, LBA, ...A Local Expert in all The Hamptons
(Douglas Elliman Real Estate)
Maybe I am missing something--but I just found that I can not cancel my fairly new adwords account without completely losing my gmail account which I have had for several years.  HAVE YOU EVER TRIED TO CANCEL YOUR GOOGLE ADWORDS ACCOUNT??? If you have and you have been satisfied please tell me what I am doing wrong?     HERE IS WHAT HAPPENED TO ME JUST NOW: I just opened an Adwords account 3 months ago; after running an ad and getting nothing from it I cancelled it....no problem so far--it never ran again...I have checked back several times to make sure because I have had problems with Google in the past when I cancelled my Pay Per Click account and it took a lot of hoopla to get that done---that was in the very begining (3 years ago) and I really should never have ventured back into th...
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By Paula Hathaway, REALTOR, LBA, ...A Local Expert in all The Hamptons
(Douglas Elliman Real Estate)
DOES ANYONE ELSE HAVE THIS HAPPEN TO THEM??? WHAT DO YOU SAY TO SOMEONE WHO SAYS: "IT'S ALL ABOUT THE MONEY!" How do you handle this kind of Situation??? This is the second time already this year that I have had to listen as a client/customer has "bashed" me, right to my face....Is this a sign of the times?....a sign of things to come? Maybe I need to re-evaluate my business tactics, you say? Well, I did after the first incident and was WELL prepared for the second one, when it happened. Quite interesting in a way---I never hang up on people; I used the technique of saying: "I don't want to hang up on you, however, I am going to hang up now!"....It seemed to work in that the issue that had created a bad confrontation got resolved very quickly right after that. I wrote the post below on ...
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By Paula Hathaway, REALTOR, LBA, ...A Local Expert in all The Hamptons
(Douglas Elliman Real Estate)
The only thing I can see that is not so great is: How do I get my customer to sit on the "thing"...other than that, I really, really want "THE NEXT BEST 'THING'...." Take a look a the "YikeBike:" and tell me what you think....is it the best thing since sliced bread or what? ...and will it "change" forever the way we travel in cities, towns and villages?...Will it replace the Mo-ped? or the Vespa??? If you don't have room to store anything---just fold it up and put it in your gym bag or under your desk. I think it is a great idea!...Don't you?   http://www.youtube.com/watch?v=X813eTuZJkc&feature=player_embedded  
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By Paula Hathaway, REALTOR, LBA, ...A Local Expert in all The Hamptons
(Douglas Elliman Real Estate)
IN TODAY'S REAL ESTATE MARKET, WHEN ALL THE PIECES FIT THE PUZZLE IS NOT SO CONFUSING.....But we all need to step back, re-evaluate the means of our business and seek new ways or re-establish old ways that worked for us in the past...pieces that fit into the "NEW" picture. THIS IS A "NEW" REAL ESTATE MARKET AND IS MORE CHALLENGING THAN EVER!                                     WHEN THE PIECES ALL FIT THE PUZZLE IS NOT SO CONFUSING.... WHAT ARE THE KEY INGREDIENTS TO SELLING IN TODAY'S "NEW" REAL ESTATE MARKET? 1. AWARENESS OF MARKET CHANGES--HOW THE MARKET HAS CHANGED AND WHAT THE CHANGES MEAN TO A SUCCESSFUL SALE...AND LISTING;THIS IS A "NEW" REAL ESTATE MARKET AND IS MORE CHALLENGING THAN EVER! :  Awareness of the shift in this difficult market is critical to a successful real estate ...
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By Paula Hathaway, REALTOR, LBA, ...A Local Expert in all The Hamptons
(Douglas Elliman Real Estate)
How is it that the Banks are feeling so powerful and secure that they can step in and auction off a person's home without warning? How is it that the banking community has no qualms about selling someones home while they are in the process of loan modification and recovery from the crisis in 2008; and while the homeowner is desperately working on all the paperwork required to convince the bank that they are capable of going forward, capable of being able to pay the mortgage? PRESTO! CHANGO! YOU ARE NOW HOMELESS!!!   (This is the link to the article abou the Boston woman who had her house auctioned off by her bank, while she was in the review process for a modification: http://www.bostonherald.com/business/real_estate/view.bg?articleid=1235053 ) This outrage is happening everywhere in ou...
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By Paula Hathaway, REALTOR, LBA, ...A Local Expert in all The Hamptons
(Douglas Elliman Real Estate)
My sister called me late Wednesday afternoon from Manchester New Hampshire and told me to read this article on the internet: "WOMAN LOSES HOME WHILE IN TALKS ON LOAN CHANGES"  http://www.bostonherald.com/business/real_estate/view.bg?articleid=1235053  on the real estate page of the Boston Herald. As I read the article I had a terrible feeling of doom...I think what we are witnessing is a new tactic by big banks: Default, foreclosure, auction.....Too bad for you, Homeowner!!! I have a feeling that this is never going to end. Big Brother tactics will be the end of all of us at this rate; there is more help out there for homeowners in trouble---the problem is, NONE OF THEM WORK! BIG BROTHER BANK LET US HELP YOU TO MODIFY YOUR LOAN SO YOU DON'T LOSE YOUR HOME; ONLY ONE PROBLEM:  WE JUST AUC...
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By Paula Hathaway, REALTOR, LBA, ...A Local Expert in all The Hamptons
(Douglas Elliman Real Estate)
My sister called me late yesterday afternoon from Manchester New Hampshire and told me to read this article on the internet: "WOMAN LOSES HOME WHILE IN TALKS ON LOAN CHANGES"  an ominous headline right off the real estate page of the Boston Herald. As I read the article I had a terrible feeling of doom...a sense that this is never going to end. Big Brother tactics will be the end of all of us at this rate; there is more help out there for homeowners in trouble---the problem is, NONE OF THEM WORK! BIG BROTHER BANK LET US HELP YOU TO MODIFY YOUR LOAN SO YOU DON'T LOSE YOUR HOME; ONLY ONE PROBLEM:  WE JUST AUCTIONED IT OFF!!!  Here is the link:   http://www.bostonherald.com/business/real_estate/view.bg?articleid=1235053    Please read it and let me know what you think about this: Wells Far...
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By Paula Hathaway, REALTOR, LBA, ...A Local Expert in all The Hamptons
(Douglas Elliman Real Estate)
IN TODAYS REAL ESTATE MARKET, WHEN ALL THE PIECES FIT THE PUZZLE IS NOT SO CONFUSING.....But we all need to step back, re-evaluate the means of our business and seek new ways or re-establish old ways that worked for us in the past...pieces that fit into the "NEW" picture. THIS IS A "NEW" REAL ESTATE MARKET AND IS MORE CHALLENGING THAN EVER!                                               WHAT ARE THE KEY INGREDIENTS TO SELLING IN TODAY'S "NEW" REAL ESTATE MARKET? 1. AWARENESS OF MARKET CHANGES--HOW THE MARKET HAS CHANGED AND WHAT THE CHANGES MEAN TO A SUCCESSFUL SALE...AND LISTING:  Awareness of the shift in this difficult market is critical to a successful real estate deal; the buyer today is very well educated about the real estate market, however they know that they don't "know it all"...
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By Paula Hathaway, REALTOR, LBA, ...A Local Expert in all The Hamptons
(Douglas Elliman Real Estate)
SMART SALES *PART 1V OF MY SERIES OF POSTS ON THE "NEW" REAL ESTATE MARKET WHAT ARE THE KEY INGREDIENTS TO SELLING IN TODAY'S "NEW" REAL ESTATE MARKET? 1. AWARENESS OF MARKET CHANGES--HOW THE MARKET HAS CHANGED AND WHAT THE CHANGES MEAN TO A SUCCESSFUL SALE...AND LISTING:  Awareness of the shift in this difficult market is critical to a successful real estate deal; the buyer today is very well educated about the real estate market, however they know that they don't "know it all" and will be more than appreciative if you are able to complete the true picture for your marketplace....also, this is a great time to dispell  incorrect information or bad rumors about the local market for the buyer. If you have market reports available, the buyer needs to read them. A great example of one I use...
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By Paula Hathaway, REALTOR, LBA, ...A Local Expert in all The Hamptons
(Douglas Elliman Real Estate)
So, it doesn't look like the very famous Hamptons! And, it certainly does not look like a summer resort---that's true,  but then we haven't had 4 feet of snow before!                                   Snow is my favorite snack! Southampton, New York and Southampton Villageare the place to be no matter what time of year. Although the demographics show a very small year round population here, that has been changing since 2001 and the terrible events of September 11thof that year. Since that day the population has ballooned here--families who do not want to live in the city now find it very appealing to move out here to their summer homes and take up year round residency. The Southampton School district has a fine reputation and the Ross School in Bridgehampton and the Tuckahoe School now ...
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By Paula Hathaway, REALTOR, LBA, ...A Local Expert in all The Hamptons
(Douglas Elliman Real Estate)
*This is part III of a series  of posts that I am writing regarding the "new" real estate market; in this new market, we as professionals have very different challenges than ever before. THE "NEW" REAL ESTATE MARKET: Do YOU Know Who You Are Dealing With?  comes from the concern I have for all in our industry who are now dealing with a very different clientele in a very different market.                        First, we are dealing with the possible acquisition, sale--or loss of the largest purchase that a person will ever make. Because of this we need to make good choices and decisions and we need to make sure we know who we are dealing with. Second, we are in a buyers market now versus the decade long, sustained sellers market; this gives the brokerage community a whole new set of rule...
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By Paula Hathaway, REALTOR, LBA, ...A Local Expert in all The Hamptons
(Douglas Elliman Real Estate)
OVER PRICING HOMES = HIGH INVENTORY + LESS SALES + DESPERATE SELLERS = CONTINUED HOUSING CRISIS: A FORMULA FOR DISASTER IN A FRAGILE MARKET PLACE!!!   We MUST do in-depth research before we price properties!!! ....and we MUST price properties as if our lives depend on it.(...because they do!) If we don't face over-pricing head on, we will see the inventory levels climb like never before! Not only that, the desperation seen and felt by huge numbers of sellers that we witnessed during the downturn in 2008 will likely re-appear! In many markets there are still great numbers of desperate sellers.     OVER-PRICED HOMES = HIGH INVENTORY +  MORE DAYS ON MARKET + LESS SALES + DESPERATE SELLERS = CONTINUED HOUSING CRISIS. In my last blog post, I mention the above formula to the umpteenth agent w...
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By Paula Hathaway, REALTOR, LBA, ...A Local Expert in all The Hamptons
(Douglas Elliman Real Estate)
                     OVER-PRICED HOMES = HIGH INVENTORY + LESS SALES + DESPERATE SELLERS = CONTINUED HOUSING CRISIS. We MUST do in-depth research before we price properties!!! ....and we MUST price properties as if our lives depend on it.(...because they do!) If we don't face over-pricing head on, we will see the inventory levels climb like never before! Not only that, the desperation seen and felt by huge numbers of sellers that we witnessed during the downturn in 2008 will likely re-appear! In many markets there are still great numbers of desperate sellers.                     OVER-PRICED HOMES = HIGH INVENTORY + LESS SALES + DESPERATE SELLERS = CONTINUED HOUSING CRISIS. In my last blog post, I mention the above formula to the umpteenth agent who said he would take an over-priced lis...
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