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Real Estate Endures

Originally Posted: January 03, 2008

Lona Rubenstein

Property listed with Brown Harris Stevens.

New Year, new stuff, and some impressive remainders.

As promised, we continue the impressive Corcoran Group achievers of 2007 adding - Top Teams by Sales Volume: Cee Scott Brown and Jack Pearson, Cliffeton Green and Drew Green, and Diane Saatchi. Top Exclusive Listing Agent: Gary DePersia. Top Rental Agent by Units: Anita Klempner. Highest Rental Price - $750,000: Bonny Aarons/Janette Goodstein /Richard Herbert. Highest Sales Price - $103,000,000: Bonny Aarons/Linda Haugevik. [Can you believe these numbers?] Longest Length of Service - 28 Years: Barbara Sloan. $20-$50 million in Sales Volume: Cee Scott Brown and Jack Pearson, Donna Daniele, Pat Garrity, Peter Huffine, Geoff Hull, Penelope Moore, Diane Saatchi, Elaine Stimmel, and Patricia Wadzinski. Above $50 Million in Sales Volume: Bonny Aarons, Susan Breitenbach, Gary DePersia, Linda Haugevik, Cliffeton Green and Drew Green.

[And I thought I was a hot shot when, in 1981 for John Cataletto at Pony Farm Real Estate, I made my first rental after only one month. It was for August, on Amagansett Lane for $1,000, with John waving my $100 commission check before the other five associates in his Main Street East Hampton Office!]

Yes well, Holly Rubenstein (yep, she knows the band leader), after one month with Prudential Douglas Elliman in East Hampton, reports that she has made one sale, one creative two-year rental while tenants look for home with her. She also brought in three exclusive listings (some shared). Newcomers - be energized. It can happen to you!

Property listed with The Corcoran Group.

Marcia Altman, at Brown Harris Stevens, writes about great high end deals west of the canal in Quogue. "The best two deals are: new construction, six bedrooms, 7,000 sq. ft. home in estate section of Quogue with a full guest house (bedroom, living room, kitchenette, and bath), right of way to deep water docking, many newly developed remote and automatic systems installed for ease and comfort at $5,200,000. It's the ONLY new home in the estate section," says Marcia, and it's gorgeous! She goes on to write about another property, a resale in the Quogue estate section. "Almost two acres of the most incredible grounds with a 13 year old, five bedroom home, barn/pool house and fantastic waterfall that empties into not only a koi pond - it's a stream at $3,500,000!"

Aurrice Duke, an Account Director at WordHampton Public Relations, writes Realty Takes that, "Something new may soon be a twitter on the East End real estate scene. Dede Gotthelf, owner of Southampton Inn, has been seen in Manhattan lunching at Four Seasons and dining at Cipriani with Dolly Lenz and Dottie Herman of Prudential Douglas Elliman. Over the past 25 years, Gotthelf has quietly amassed a Hamptons real estate portfolio worth over $100 million. She is a licensed broker, but no longer practices. The Inn is not on the market. Her other holdings include 12 properties in Southampton including - 61 Hill Street and a fairly large parcel (Rivercatwalk Development) on the Southampton side of Riverhead.

Property listed with Prudential Douglas Elliman.

Again, a new world in this new year, a new era! An item when a realtor bigwig has lunch in Manhattan with a property owner. Celebrity is contagious!

Not exactly inspirational news nationwide from Jennifer@atomicpr.com with information from RealtyTrac, the leading online marketplace for foreclosure properties' she tells us about the November 2007 U.S. Foreclosure Market Report. [Remember this data is national not East End!], which shows that "a total of 201,950 foreclosure filings - default notices, auction sale notices and bank repossessions - were reported during that month, down 10 percent from the previous month (October) but still up nearly 68 percent from November 2006. The national foreclosure rate for the month was one foreclosure filing for every 617 households."

We are also told in the same email that California, Florida, and Ohio lead the pack here, a dubitable victory, but perhaps a time for bottom fishermen to buy in those areas? Las Vegas, the fastest growing city in the nation, is in there as well. (Now that interests an old poker player like me!).

In any case whatever the national market view, how bad can it be out east when entrepreneur veteran broker Judi Desiderio, CEO of Town & Country Real Estate, is opening yet another branch office, her sixth on the East End? This one is in Noyac in the old Allan Schneider place; and this after a 2006 start-up? Wow and Congratulations!

East End real estate a strange, but enduring, business.

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