Log In   ·   Become A Member

Real Estate In The Hamptons Is Cyclical Says Bill Williams of Sotheby's

Nicole B. Brewer

  |   2 Comments · Print Article

Bill's favorite listing right now is 380 Old Montauk Highway in Montauk. (Courtesy Photo)

Hamptons real estate agent Bill Williams, Senior Global Real Estate Advisor at Sotheby's International Realty in East Hampton, doesn't get surprised by the wild amenities in the Hamptons most amazing homes anymore, "It's truly crazy what some people will put in [their] homes, from bowling alleys to gun ranges." Never one to balk at a little extra effort for a client, Bill tells us that, "I once flew clients out to the Hamptons in a private helicopter from Philadelphia to see a property that had just came on the market. Before they got back on for the return trip, we had a $17,000,000 accepted offer."

Just before the rush of Memorial Day Weekend and the start of the Hamptons summer season we heard back from Bill with his thoughts on the state of the market.

Bill Williams, Senior Global Real Estate Advisor at Sotheby's International Realty in East Hampton. (Courtesy Photo)

Which towns/villages are the most sought-after right now?
BW: Amagansett has been very hot, especially the lanes. And Bridgehampton is seeing a lot of action also, especially close to the village.

Do you feel that the 'Golden Age' of East End real estate is over?
BW: Not at all. Real estate in the Hamptons is cyclical, like many other resort areas in the country. Professionals know how to ride out the slow times.

How have buyers/sellers changed over the past two years?
BW: Sellers have become more pragmatic, especially those whose properties have been on the market for more than nine months. Buyers have learned to be patient, and wait for the right time to make the offer. Together it is good for the market.

If "location" is the first rule in real estate, what is the second?
BW: Location. And the third is location. When buyers are looking for real estate, among the many factors that influence their decision are school districts, recreation and parks, view, proximity to village, etc. It all comes down to location.

What are the emerging trends in architecture?
BW: Modern architecture has become more and more prevalent in the past few years. We have some great local architects out here, such as Bates Masi, and New York based firms like Sawyer Berson.

What is an easy way to increase the value of a property?
BW: Information. Being able to tell a customer all important information about a property - lot size, coverage, surveys, zoning, comps - not only can increase value but also time on the market.

How important is 'staging' for a sale/rental?
BW: Critical. Staging makes all the difference in the world. I recommend it to all my clients whose homes lack furniture.

What is your forecast for the fall/winter real estate season in the Hamptons and North Fork?
BW: We should continue in a positive direction, the fall is a very active selling season in The Hamptons.

Tell us about one of your favorite listings on the market right now.
BW: My favorite listing right now is 380 Old Montauk Highway in Montauk. 1.5 ocean front acres with a small home pushed way forward on the lot, great panoramic views, plus it's flat, so building a new home here is just like building a home on Lee Avenue, just with better views.


Nicole, an award-winning journalist, is Executive Editor & Publisher of Hamptons.com where she focuses on celebrity interviews, fine living and design, social events, fashion and beauty. She lives on the North Fork with her husband, their two daughters, and Bernese Mountain dog, Cooper. www.hamptons.com HamptonsOnline NicoleBBrewer NicoleBBrewer NicoleBBrewer




Related Articles:

Guest (license course real estate) from Singapore says::
Nice Info about real state. I like the method you begin and so conclude your thoughts. Thanks for this data .I really appreciate your work, keep it up.
Jan 17, 2014 1:59 am

Guest (vipin) from singapore says::
This is a real scoop for everybody. This is an interesting blog page. I do hope you could do some more post. Good job!
Nov 26, 2013 1:58 am

 

Submit Your Comment

Please note, you are not currently logged in. Your comment will be submitted as a guest.
To submit your comment as a member, please click here.
Your Name:
Location:*
Comments:*
* Comments will be reviewed and posted in a timely fashion
* All fields are required
Question:*
What color is the sky?
(For spam prevention, thanks)
 
 
 
http://www.hamptons.com/gallery/ads/1103.gif
http://www.hamptons.com/gallery/ads/1661.gif
http://www.hamptons.com/gallery/ads/1453.gif
http://www.hamptons.com/gallery/ads/1174.gif
Mala Sander
Mala Sander is a consummate real estate professional specializing in high-end sales and rentals throughout the Hamptons. Whether you’re seeking a luxury waterfront home or wonderful residence right in town, she knows the area’s diverse inventory inside out and how to match it with your unique needs.

Hampton Hills Country Club
One of the most pristine and challenging courses in the Hamptons. Click here for more info!

Ride The Legend!
From Manhattan to Montauk and the North Fork, The Hampton Jitney is the only way to go in style and class. Click here to make a reservation!

Meg Salem-Saunders Real Estate
My Bio Broker Profile PDF Meg Salem's quick success in real estate speaks to her winning combination of strategic analysis of the market and insider knowledge of the Hamptons. Her skills honed during 17 years as a business development and marketing executive with such Blue Chip companies as Proctor and Gamble equipped her with an arsenal of keen negotiating skills, innovative marketing plans, and a seasoned sixth sense of what it takes to close the deal.

East End Tick Control
The East End's only New York State licensed dedicated tick and mosquito control specialists!

Guild Hall
The John Drew Theater stage provides dramatic, comedic and musical entertainment, as well as films, lectures, literary series, and staged readings, all featuring prominent artists and writers with ties to the community.

The Bliss Sleep Center
The Bliss Sleep Center uses only 100% Organic bedding and can customize the materials used in your mattress to your preference.

Bridgehampton National Bank
For over 100 years Bridgehampton National Bank has been the East End's hometown bank. Many success stories...one bank, BNB!

Pembrooke Fine Landscapes
Pembrooke’s talented design staff has allowed our clients to rediscover the beauty, potential, and functionality of their landscape. Pembrooke’s unique ability to design and build the highest quality work has defined our success and distinguished us from the competition throughout the Hamptons and beyond.

ICC
Imagine one-button control of virtually every facet of your home. Where a simple touch is all it takes to enjoy your favorite music or movie, perfect your environment or secure your surroundings. At ICC, we pair the industry’s leading home automation design and installation experts with elite brands for an experience that simplifies your home and enhances your life. Welcome to life, simplified: click to learn more.

Halstead Property
Click here to search for Hamptons sales and rentals with one of the largest and most visible residential brokerage firms in New York!

Cook Maran & Associates
The insurance broker you can trust to be by your side when you need it most.

Chess Camp in the Hamptons!
Coaches from Chess NYC will be in East Hampton with their unique and fun Chess NYC lesson plan and all participants, no matter their age or background, will learn and play the exciting game of Chess, guaranteed!