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Hamptons.com
December 30, 2015

How Do Hamptons Real Estate Brokers See The Market In 2016?

John A. Viterittiby John A. Viteritti
in Real Estate
Home Real Estate

The presidential election, the Federal Reserve’s recent increase in interest rates, and how the economy will develop are factors that are likely to affect the real estate market. I solicited real estate brokers doing business in the Hamptons for their views on what next year’s market will look like.

“Value and lifestyle are going to be the buzz words in 2016. It can be a tear down on a spectacular stretch of oceanfront, or a beautifully appointed new home with all the bells and whistles,” said Judi Desiderio, Chief Executive Officer, Town & Country Real Estate. “Millenniums are entering our market, looking for a place to ‘reboot’ yet get back to the city, so hamlets west of the canal are becoming increasingly popular. Aging baby boomers are looking for places to gather with friends and family during their downtime.” But it’s buyers who fall in the middle to watch. “Those in between have the greatest purchasing power, they drive the $8 to $18 million price range,” noted Desiderio. “Their reaction to the stock market dictates their decisions, and real estate is an investment vehicle to most. The elite over $25 million buyer is driven by gains in the stock market which they diversify with art and luxury real estate.” As for the past few years, she notes “mid 2014 and 2015 benefited from the 30 percent gains of 2013.” But Desiderio doubts that will happen again. “I don’t expect the same number of sales over $25 million that we have seen in the past 18 months.”

“The real estate market on the East End will mirror your 401K,” said Paul Brennan, Associate Broker, Douglas Elliman Real Estate. “I see rising interest rates and a volatile stock market with a downward trend.” Brennan notes that “at this point in time, supply is great and demand is waning. New construction at good value is the only thing that’s in demand.”

“In East Hampton Town, the wild card for 2016 is the impact of the recently enacted Rental Registry Law,” noted Joseph Kazickas, Managing Broker, Rosehip Partners Real Estate. “It might create conditions that could compel owners to sell their investment properties. The fact that rentals cannot be advertised without a rental registration number will cause hundreds of properties to be removed from websites.” Kazickas believes the new law could cause a rise in properties on the market. “Many homeowners depend upon rental income to maintain their investment properties,” added Kazickas. “The potential loss of income and penalties for violating the law could cause these homeowners to throw in the towel and sell their properties, which is not good for the East Hampton market.” Other game changers, he notes, are foreign exchange rates and the market’s stability. “The strength of the dollar in currency markets, the overall direction of equity markets, the profitability of the financial sector, and finally, the speed and magnitude of the Fed’s tightening, which will have a significant impact on mortgage rates,” explained Kazickas. “In all likelihood, I see a net negative for real estate.”

“I think there is a dichotomy in the current market place,” shared Anthony DeVivio, Managing Director, Hamptons Halstead Property. “The very high and high end are a buyer’s market. The lower end is solidly a seller’s market.” A trend which he thinks will continue into 2016. “While we are experiencing a pause in transactions, (2015 will be measurably below 2014), I do not believe this market is finished with growth,” said DeVivio. “I believe we will continue to see downward price adjustments on the high end, and continued strength and slightly higher pricing on the low end. I also anticipate a slightly higher rate of transactions.”

“I think a lot of my colleagues would agree that 2015 was a stellar year,” noted John Christopher, Associate Broker, Brown Harris Stevens, Sag Harbor. “Although unit sales were less than the year before, median prices rose. There was extreme activity in the below million dollar market, and the high end was robust.” Since 2016 is an election year, he’s not sure if that trend will continue in the New Year. “People become anxious and hesitant about the future,” explained Christopher. “You see it play out in the stock and bond markets, and the real estate market is not immune to these conditions.” One thing Christopher is certain about, buyers will continue the search for that bargain buy. “Although we live in a microcosm compared to the rest of the country, people are virtually the same. We won’t see buyers snapping up properties like before unless they are extremely well priced,” noted Christopher. “Certain cache’ homes and areas will continue to thrive but other areas will ratchet back because buyers will be more hesitant than in the past.”

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Cooking Class with Chef Alex at R.AIRE

June 8 @ 03:30 PM - June 8 @ 06:30 PM
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Murmrr Presents: GIPSY KINGS featuring Tonino Baliardo

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Alec Baldwin, Kristen Stewart, Michael Keaton, And Samuel L. Jackson Among New York Film Critics Circle Awards Attendees

Alec Baldwin, Kristen Stewart, Michael Keaton, And Samuel L. Jackson Among New York Film Critics Circle Awards Attendees

  • So many fun events this weekend! ⁠
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Check out the top Hamptons events this weekend!⁠
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🎸 22nd Annual Battle of the Bands⁠
📅 Friday, June 6 | 8PM–11:30PM⁠
📍 Ponquogue Beach, 280 Dune Rd, Hampton Bays⁠
🎶 Five local high school bands compete for great prizes!⁠
📸 Photo: Rob Rich/SocietyAllure.com ©2024⁠
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🛋️ Decorators-Designers-Dealers (D-D-D) Sale & Auction Benefit Gala⁠
📅 Saturday, June 7 | 4PM⁠
📍 36 Barkers Island Rd, Southampton⁠
✨ Silent & wine auctions + high-end home furnishings amid a summer cocktail party.⁠
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🎨 Magical Thinking Exhibition⁠
📅 Saturday, June 7 | 6PM⁠
📍 Keyes Art, 45 Main St, Sag Harbor⁠
🌌 A stunning show exploring the extraordinary through realism.⁠
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🌅 Second Annual Sunset Soirée for Brain Cancer⁠
📅 Saturday, June 7 | 5PM–9PM⁠
📍 Private Estate, East Hampton⁠
💜 Enjoy sunset views and raise awareness for an important cause.⁠
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🐋 Mini-Whale Workshop with UpSculpt⁠
📅 Saturday, June 7 | 12PM–4PM⁠
📍 Bridgehampton Museum, 2539 Montauk Hwy⁠
♻️ Transform marine debris into art while learning about conservation and local history.⁠
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🎧 Amalfi’s Waterfront Party Series⁠
📅 Saturday, June 7 | 3PM–10PM⁠
📍 Amalfi, 32 Lighthouse Rd, Hampton Bays⁠
🍸 Food, cocktails, and DJ sets with a waterfront view.⁠
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🎬 Tony Gilroy In Conversation⁠
📅 Sunday, June 8 | 2PM⁠
📍 Southampton Playhouse, 43 Hill St⁠
🎥 A deep dive into the filmmaker’s suspenseful storytelling—including Andor.⁠
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💃 Gipsy Kings Live at Canoe Place⁠
📅 Sunday, June 8 | 7PM⁠
📍 Canoe Place Inn, 239 E Montauk Hwy, Hampton Bays⁠
🎶 End your weekend with legendary music and energy!⁠
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🌟 Tony Awards Screening & Red Carpet at Guild Hall⁠
📅 Sunday, June 8 | 8PM⁠
📍 Guild Hall, 158 Main St, East Hampton⁠
🎭 Watch the 78th Tony Awards LIVE from Radio City in red carpet style!⁠
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#hamptonsevents #battleofthebands #tonyawards #eastendart #hamptonssummer2025 #livemusic #artexhibition #fundraiserevent #guildhall #canoeplace #sagharbor #easthampton #southampton #hamptonbays
  • 7 Lee Lane, Wainscott, NY 11975⁠
Saunders Exclusive: $8,875,000⁠
@hamptonsrealestate⁠
@vinceinthehamptons⁠
@paramountdevelopmentgroup⁠
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Ready for immediate occupancy and fully furnished. Stunning new construction from renowned Hamptons Paramount Development Group, South of the Highway in Wainscott.⁠
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Sited on a flag lot off the end of a cul-de-sac and surrounded by scenic easement, this brand-new home has 7,366 +/- sq. ft. of living space on 3 levels with 7 bedrooms, 7.5 baths, an attached 2-car garage, and heated saltwater pool with an optional pool house.⁠
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Seamless luxury inside and out is woven together for enviable entertaining and everyday, effortless comfort. Interiors are bright and inviting, filled with natural light throughout the contemporary open-concept floorplan.⁠
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The elevated primary suite has its own private balcony and a luxe bath. Additional bedrooms are spacious and comfortable, sure to impress your friends and guests.⁠
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Ready for everyday luxury living, the finished lower level includes a home gym, 2 bedrooms, a full bath, a recreation room, and sauna.⁠
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Easy indoor-outdoor living awaits as you dine al fresco in the backyard with an outdoor kitchen, lounge in the sun by the 20’x40′ heated, saltwater pool and wash off after a day at the beach with an outdoor shower.⁠
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Positioned perfectly just off the iconic Georgica Pond and surrounding estates, plus the world-class ocean beaches and the countless charms of Wainscott Village.⁠
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#newconstruction #hamptons #luxuryrealestate #wainscott #hamptonsrealestate
  • The reopening of the Sunset Theater marks a new chapter for a historically cherished cultural venue in Westhampton Beach, originally built in 1927. After what Founder and Managing Director Inge Debyser described as an extensive three-year renovation, the beloved movie theater officially reopened its doors at 2 Brook Road on Friday, April 25.⁠
@sunset.theater.whb⁠
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Read the full article at Hamptons.com (Link in Bio)⁠
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#sunsettheater #hamptons #westhamptonbeach #movies #film
  • Kicking off Memorial Day weekend, The HUB—short for Health, Unity, and Beauty—launched its summer season with an impressive soirée on Friday. ⁠
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Founders Michael Catalano and Toni DeMauro, along with creative and event leads Alex Vinash and Billy Folchetti, welcomed 300 Hamptonites into the magic of their bold new project.⁠
@hub_hamptons⁠
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Check out the full gallery at Hamptons.com (Link in Bio)⁠
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📸: Rob Rich/SocietyAllure.com⁠
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🔗 [Click Link in Bio for Event Info]⁠
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🔗 [Click Link in Bio for Event Info]⁠
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🏆 Celebrate Local Legends: Howard & Kenny Wood⁠
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Join the party honoring Suffolk County Hall of Fame icons! 🎉⁠
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🔗 [Click Link in Bio for Event Info]⁠
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FREE entry, tequila pineapple cocktails, music, bites & giveaways! 🍹🎶⁠
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🔗 [Click Link in Bio for Event Info]⁠
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🧱 CMEE’s 8th Annual Block Party⁠
📅 Sat, May 31, 2025⁠
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🔗 [Click Link in Bio for Event Info]⁠
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😂 Saturday Night Comedy at Sticks X Stones⁠
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🔗 [Click Link in Bio for Event Info]⁠
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🎬 Sunset Theater: Karate Kid: Legends⁠
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🔗 [Click Link in Bio for Event Info]⁠
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🔗 [Click Link in Bio for Event Info]⁠
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  • Nearly two years after its debut, El Verano offers a taste of upscale Mexican cuisine in a setting inspired by the charm of vacation summer homes in Mexico. Customers enter a vibrant space filled with beautiful greenery and colorful decor as they enjoy dishes rooted in the heritage of acclaimed chef Julian Medina.⁠
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Medina grew up in Mexico City, where his love for cooking first began. In pursuit of his career, he moved to New York City, where he graduated from the French Culinary Institute. Noticing a lack of refined Mexican dining in Southampton, Medina created El Verano to bring the bold flavors of his roots to the area. Blending Mexican coastal charm with rich culinary traditions, El Verano brings something new to the Southampton dining scene.⁠
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Medina shared some of his signature dishes, journey through the cooking field, and highlighted El Verano’s fresh and locally sourced ingredients that shape each creation.⁠
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Read the interview at Hamptons.com (Link in Bio)⁠
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#elverano #dining #southampton #mexicancuisine
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