DO YOU HAVE A "BRIGHT SPOT" IN YOUR MARKET???...In The Hamptons It's New Construction!
The best selling houses right now in Southampton Village are New Construction--two of them are my listings.
I worked very hard with the developer/builder to get the right price and the right location for these two houses. Now, there is a mad Rush on the part of other builders to get into the same location and the prices on the existing homes have started to get too high for my client to do what he did so well just 6 months ago!
The other builders in the area are offering sub-standard quality and design, in my opinion and the way my client has been successful has been his approach to the whole product: Highest quality workmanship and design with the top of the line appliances and only the finest details and trim....Classic design and expert craftsman have been employed by the architect and the builder and those crucial factors give the buyer who wants a "House for the ages", a perfect offering!
I believe that the houses sold very easily in the process of construction because of the fine renderings (shown here) and the abundance of details, both building and design, that were made available to the potential buyers. After reading the featured blog by Jason crouch the other day:Attention Builders: It Doesn't Take Much to Blow an Otherwise Easy Sale , I could see the importance of what this developer, builder, architect and quite frankly my hard work is to the outcome of the sale of both houses so quickly and so successfully. As Jason makes clear in his post, the straight-forward approach of the builder/developer to the buying public is necessary to a successful sale. In the cases here, there was never a question as to the costs of the building of the house and all the "changes" that were made by the buyers---they got what they wanted without feeling that they had been "short changed" in the process.
As the listing agent, my involvement went as follows:
- I researched the entire Village to find the best area with the best proximity to the two key "draws" to the Village, the ocean and the Village center.
- I know the Village like the back of my hand and was able to talk to neighbors and homeowners to locate the best potential sellers. I located the best properties with houses that could be torn down and presented them to the developer and his financial supplier.
- I was involved in developing the pricing and the details that buyers look for now in new homes. The importance of a "Great Room", a finished basement with playroom, staff rooms and home theater was pinpointed from my experience in working with the buying public.
- I also was able to supply the name of one of the best architects who is familiar with the Village zoning laws; in fact he sits on the Architectural Review Board (ARB) for the Village.
- The builder was a protege' of the best builder in The Hamptons. He is a craftsman and a master builder who has honed his knowledge and his fine reputation over the last 10 years.
- After the plans were completed, I took all the plans with all the finish details and sent them to a terrific Canadian Rendering firm called NEEZO.
- I paid for the renderings out of my marketing budget and put together brochures and print ads that were very effective in attracting brokers and buyers alike to the properties.
The street where the two houses are located is called Post Lane in Southampton village. It is one that everyone wants to live on at the moment. It is about a half mile long and there are a total of 23 houses on it. Most are small bungalow types of architecture and all were built in the 1950s and 60's. There are a total of 4 new construction homes on the street---two of which have sold during the initial stages of construction. This street is 2 blocks to the Village center and 2 1/2 blocks to the ocean beaches.
Post Lane is named after one of the founding families of Southampton Village. It is a short street that at one time led to the Post family farm which is no longer in existence. Farm fields and pastures were what you would find in this South-East quadrant of the the Village....these fields were seen to run all the way to the ocean and were the source of food for the early settlers of Southampton Village. The Village has grown up around this historical part of Southampton and there is only an inactive, Revolutionary era cemetery left to tell the story.
The Post Lane area is now the target for this developer and his competitors. Meanwhile I am researching other areas with the same kind of appeal to the potential buyers here in Southampton Village
With the history and the proximity to everything that is important here, there is a new-found interest in living in the Village of Southampton.
THE "TAKE-AWAY" HERE IS THAT NEW CONSTRUCTION IS THE ONE BRIGHT SPOT IN THE REAL ESTATE MARKET HERE IN THE HAMPTONS! ...AND PRICES ARE USUALLY DOUBLE THE PRICE OF EXISTING HOMES TOO!!!
WHAT IS THE "BRIGHT SPOT" IN YOUR REAL ESTATE MARKET?
**ALL INFORMATION AND CONTENT IN THIS BLOG IS ORIGINAL TO PAULA I. HATHAWAY. The views expressed herein are my personal views and do not reflect the views of Douglas Elliman Real Estate
Paula I. Hathaway, Senior Broker Associate, Douglas Elliman Real Estate
Southamtpon Village Real Estate Specialist since 1995; Also Specializes in North Sea, Noyac, Water Mill and Bridgehampton, New York
Diamond , Gold and Chairman's Circle Awards; Top Producer since 2005
Click here to see my Hampton's website to see all my listings; please email me or call me for all your real estate needs in Southampton, Bridgehampton and Watermill: http://www.elliman.com/paulahathaway
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