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National Sales Are Up

Originally Posted: June 12, 2008

Lona Rubenstein

Okay as promised but 'nuff said! This is the last of your comments, we hope, on that beach of a story in that 'daily' because we know you are all concentrating on the news that nationally the sale of homes went up three percent in April according to the National Realtors Association.

Property listed with Hampton Homes.

In any case, Barbara Weinman, veteran broker/principal in Hampton Homes, tells us what she thinks of the article with a balanced outlook. "At first I was disturbed because the Hamptons are usually insulated from this stuff. However, I think that because prices were so high for so long we got caught in this whole mess, the economy is in terrible shape and even people with money are complaining about gas and fuel prices for their homes. I do not think we have seen the worst yet. But, this will bring investors in with money to buy some of the good deals. Only the strong can survive this one, brokers that saved for a rainy day, and it is now pouring. We still have customers, but they are looking for the deal. We are finding that some homeowners are still standing firm; I think they should look at the papers. I think quality homes not shooting for the moon will sell."

Town and Country Real Estate CEO Judi Desiderio chimes in, "I believe it was ad man Della Femina who coined the phase 'there's no bad press' - and it is elementary that NYC dwellers love to read about Hampton's Real Estate - 1+1 = 2. The phone's been ringing off the hook! I think the media is just giving their readers what they want to hear. If we had foreclosures to that [articles implication] extent every sophisticated NYC investor would be on the next plane/train/bus or automobile out East with cash in hand. (Don't think they haven't been hovering and, we'd all be standing in line with them).

"Yet, we like to think of ourselves as insulated out here in God's country, but when a recession like this hits, nearly everyone is affected in some degree. Fortunately for all of us we are surrounded on three sides by water and the maximum height allowed is 32' and the local governments' zone to preserve as much of the earth as possible, thus the impact of the 'housing meltdown' is minimal in the Hamptons, but the credit crisis concerns everyone. At Town & Country we subscribe to receive notices of pending foreclosures. Simply put - we do not see the tsunami Algar describes in The New York Post" finishes Judi.

From Tom MacNiven, Vice President and Manager at Prudential Douglas Elliman's East Hampton Office - "Barbara Blumberg, Bonnie Aarons, Janette Goodstein. From Corcoran Group - bow at PDE East Hampton's 83 Main Street office. Hope you won big - I did." (Tom is wishing me luck on my great gift of a trip, that is to say, as you read this I will be at the World Series of Poker in Las Vegas, because I was invited)!

Property listed with Prudential Douglas Elliman.

Yes, well, we think veteran broker Tom MacNiven - whose lovely mom, Margo, was at Cook Pony Farm when I began in real estate in that long ago time - is really doing a great job for the Prudential firm whose East Hampton Office once had some trouble getting off the ground and now is a groundbreaker.

Meanwhile, The Corcoran Group has formed a partnership with Hamptons Cottages & Gardens, one of Richard Ekstract's publications. Ekstract for many years dabbled smart in East Hampton to Sagaponack prime real estate. Realty Takes understands that he is alienating or has already alienated himself from the publishing end of business, intending to take it easier and visit Australia. Or was it New Zealand? Does that explain the Corcoran move?

The Corcoran Group writes they have partnered "with Hamptons Cottages & Gardens (HC&G) for their May 22 issue of "Properties for Living." Look for our newest issue of Properties for Living magazine, showcasing over 400 exclusive East End properties and featuring compelling editorial from HC&G magazine. The editorial, focusing on this year's 10 most sought after designers builds on the essence of Corcoran's branding campaign 'live who you are,' and allows the reader to see how the designers work with their clients to bring their vision to life. "

Barbara Dixon, Editorial Director of HC&G adds, "We value our partnership with Corcoran and loved the opportunity to bring our 'Meet the Designer' page to life in a larger scale." Corcoran is thrilled as well and has targeted insertions of the issue in the East End and metropolitan area.

A few brokers leave and new marketing techniques are added. Okay, Realty Takes certainly wishes you (all of you) and your realtors luck, but remember East End Real Estate is a very strange business.

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