Log In   ·   Become A Member

Hamptons Real Estate Is A Secondary Market Says Corcoranís Michael Schultz

Nicole B. Brewer

Michael's favorite home right now is a 7,000 SF home in East Hampton by Dan Scotti. (Courtesy Photo)

"New York City wants to be here," says Hamptons real estate agent Michael Schultz, in the field for six years and currently hanging his shingle with the Corcoran Group in Wainscott and NYC, comes to the industry with 30 years of retail experience under his belt. He says that the Hamptons real estate market is special to potential buyers, many of whom he says are "high finance professionals" because it has everything, "Ocean beaches are bar none the best. Produce, restaurants, tennis, golf, investment growth, and their friends."

A Hamptons homeowner in his own right since 1985, Schultz tells Hamptons.com that he still thinks of himself "as new because it's my passion." When he's not selling homes South of the Highway, he indulges his other passion for sailing in Sag Harbor and in Georgica Pond.

Michael Schultz of the Corcoran Group. (Courtesy Photo)

The Hamptons market has the high-end luxury section with homes well over $7 million and the flip side with homes under $500,000, plus all of the great homes in between. Where are the buyers right now?
MS: Currently, they are in every part of the market. In 2009, 2010, 2011 people that had money jumped in and took advantage of buying great location homes. In 2012 and 2013 everyone is jumping in. Real Estate now is like Blue Chip stocks.

What is your forecast for the summer/fall real estate season in the Hamptons?
MS: In the fall some of the buyers are out there, but people forget this is a secondary market. The majority of buyers are never cavalier with their money and the prices don't increase as well [in the Hamptons] as NYC and Brooklyn.

What are the emerging trends in architecture?
MS: Younger people really want modern interior décor in bathrooms and kitchens. Box type ultra modern houses outside and inside. Modern barn style houses are 'in' because it looks agriculture.

If "location" is the first rule in real estate, what is the second? Why?
MS: White, white, white interiors. Location means you can change the house but you cannot change the location.

Which towns/villages are the most sought-after right now?
MS: Currently, it depends on where the buyer is from. People want to be further west and they see east like Amagansett area closer to the beach than in Southampton, etc.

Tell us about one of your favorite listings on the market right now.
MS: Very special home by Dan Scotti. A 7,000 SF, 6 bed, 6 bathrooms, 2 half baths. Dan has the designer's eye for detail and finishes; he creates a house that looks old from the outside and new inside. Diamond cut windows, no sheetrock, tongue and groove, all the attention to detail. 130 Further Lane, East Hampton.

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:

Be the first to comment on this article. (Just fill out the form below)

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:
* Comments will be reviewed and posted in a timely fashion
* All fields are required
Please type the word 'water'
(For spam prevention, thanks)
Gary R. DePersia, Corcoran Real Estate
With over $2 billion in transactions on the East End and since 1995, Gary DePersia is consistently ranked among the top producers in the Hamptons. A year-on-year member of The Corcoran Group Presidentís Council, he has qualified as a national list maker since 2007. In 2008 he was Corcoran's top broker on the East End by sales volume and rental units; and ranked as the nationís 4th top broker. In the 2017 REAL Trends & The Wall Street Journal list of Americaís top real estate professionals, he was designated #26 nationally, #4 in the Hamptons and #3 at Corcoran overall by volume with nearly $200 million of transactions for the past year. His office operates with four licensed assistants allowing him to build a business stretching from Southampton to Montauk and Sagaponack to Shelter Island. gdp@corcoran.com

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

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

Advertise on Hamptons.com - Have your business be seen by over 2 million viewers including NEW searches
Hamptons.com- Our exclusive online magazine has 2.6 million Page Views YTD for 2015. Contact us to join our elite group of clients that benefit from having a presence on the Hamptons award winning publication www.Hamptons.com

Hamptons Carpet One Floor & Home
We pay less,and so do you.With over 1,000 stores in our buying group, we can get the lowest prices from the best flooring manufacturers ó and pass the savings on to you.Visit our other locations: Hamptons Carpet One Floor & Home, 675 North Sea Road,Southampton, NY 11968

Southampton Masonry-Visiting the Southampton or the Wainscott locations is an exciting experience.
Southampton Masonry has been serving Long Island's masonry and tile needs since 1975. Delivering quality products from Manhattan to Montauk for over three decades. The company's continued success is due primarily to their number one priority: customer satisfaction, with a promise of prompt and courteous service from the professional, knowledgeable staff. Southampton Masonry has the largest inventory on the east end. As direct importers they can offer a large variety of the finest quality products at the most competitive pricing for both your interior and exterior projects.

Despatch of Southampton
Despatch of Southampton has been moving homes locally on the East End for decades. We operate a well-maintained fleet of vehicles that can accommodate any size move. On a day to day basis we service moves from and to New York City.

RJD Gallery specializes in contemporary art with a focus on Magical, Figurative Realism, Narrative Portraiture and Urban Landscape.
We exhibit representational artists from around the world, who produce fine art of exceptional quality that challenge collectors to contemplate concepts about the artist, themselves, and our human experience. Utilizing timeless techniques in creating their drawings, paintings and sculptures, our artists have developed unique, signature styles that present a current vision of our world.

CP Complete- Landscape Design & Construction
Paul Guillo And Chris Hall Two Of The Most Respected Names In The Community Together, they are partners in CP Complete. They bring their years of experience and integrity to creating and renovating luxury backyards.

CP Complete- Landscape Design & Construction
Paul Guillo And Chris Hall Two Of The Most Respected Names In The Community Together, they are partners in CP Complete. They bring their years of experience and integrity to creating and renovating luxury backyards.