“I think as long as the Hamptons retain their natural character and NYC is less than two hours away, the East End will always be a golden investment,” says Mala Sander, Corcoran Group Senior Vice President/Associate Broker. Real estate was a “natural fit” for Sander who spent a career in sales and marketing prior to moving full-time to the Hamptons in 2000 with her husband. A view of Noyac Bay from her North Haven home is a calming backdrop for the customer service pro as she prepares for appointments throughout the East End.
If “location” is the first rule in real estate, what is the second?
MS: Location, followed by location again. There is no substitute! You can always change the house but you can’t change the location!
What is your forecast for the spring/summer real estate season in the Hamptons/North Fork?
MS: It’s been a very active market that didn’t slow down even during the holidays. Granted there was some “fiscal cliff” push and a fear of upcoming cap gains taxes, but there was a lot of activity even independent of those uncertainties. Now that we’re into the new year it remains very busy, with buyers and renters on the hunt for summer 2013 occupancy. Prices are still low, interest rates remain incredibly low, and there’s a healthy amount of inventory. That bodes well all around.
What are the emerging trends in architecture?
MS: Clean, modern lines are the hot trend right now. Less formality, more public spaces in the home, and rooms that blend the indoors with the outside are very much in demand.
How have buyers/sellers changed over the past two years?
MS: Everyone is much more tech savvy, and therefore more market savvy. It actually makes for a better market environment. Educated buyers and sellers know how – and when – to make a deal.
What is an easy way to increase the value of a property?
MS: Believe it or not, pricing it right is one way to get the highest price for a property. That’s one way. Beyond that, make sure any outstanding repairs are done, paint is fresh, entryways are welcoming, windows are clean, and that the house looks and smells fresh & clean. Get rid of the clutter. Clean out closets. Upgrade kitchen appliances if you can, that will get a lot of bang for the buck. Spruce up landscaping. Update your furnishings and window coverings, making sure they’re properly sized for the house.
Tell us about one of your favorite listings on the market right now.
MS: I don’t have a favorite, but my newest listing is a renovated, hundred-year-old manor house in North Haven. It’s on 2 acres and has views of Sag Harbor Bay. The house is very special, click here to check it out.