Episode 5 - Sarah Minardi

Discussing Halloween and the East Hampton Real Estate Market with Sarah Minardi

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Transcript

Andrew Doud 0:08

Good Thursday afternoon, everyone. I'm Andrew Dow with Saunters and Associates, and thank you again for joining us for another weekly episode of the Happening in the Hamptons podcast, our weekly breakdown of the Hamptons market, new listings, and events on the East End. Joined as always by Steve Glick, Dave Retiner, and today Sarah Menardi here in our East Hampton office. Our show today is sponsored by New York Title Abstract, the Hampton's leading title insurance firm. Visit NewYorkTitle.com or titleinsurance.com for more information. Everyone, thanks so much for joining us. How are you?

Steve Glick 0:36

Hey, good morning, Andrew. Thanks, Andrew.

Andrew Doud 0:39

So listen, Steve, we want to start with numbers as we always do. This week down slightly over the last couple weeks, but still up year over year. So where are we at?

Steve Glick 0:47

Yeah, definitely. Good morning. It was another steady and healthy week in the Hamptons real estate market. Over the past week there were 48 listings that went into contract from West Hampton to Montauk. The three-month average has been 75 listings going into contract, but 48 is still certainly a healthy and strong number. Compared to the same week last year, there were 33 listings that went into contract, which is an increase of a year over year of 45%. The quick breakdown of these 48 transactions are one over 20 million, two between 10 and 20 million, and both of which were represented by Saunders. We had 55 Ambleside Lane in Bridgehampton with a last license price of 14.995 million, and also 565 Daniels Lane located in Sagaponic with a last licid price of 11 million, both going into contract this past week. Two of these deals were between six and eight, three between four and six million, ten between two and four million, and again thirty deals under 10 million, which as always continues to be the most active part of the market. Each week we do pay close attention to the listings coming onto the market. And this week we saw 48 new listings coming onto the market, which coincidentally is the same amount of number of listings going into contract. The inventory is starting to trend upwards as more properties are coming onto the market each week. So this is this is good signs of a very healthy market. One of the new listings that recently came onto the market is 11 Country Lane located just outside East Hampton Village, listed with, of course, the one and only Sarah Minardi, who we have here in the studio today. This property features four bedrooms over 2,700 square feet and is priced at 1.495 million. Sarah, you represent this house, but you also work with a lot of buyers. What are you seeing out in the market and what are the buyers looking for when they're how out there house searching?

SPEAKER_00 2:35

Yeah, I know it's really interesting. We've ever since COVID hit, we've been in a real frenzy, and the the the market for 2 million and under has been extremely, extremely busy. And um since post-Slaper Day, you know, we've seen it it we've seen it kind of um you know mellow out a little bit, but it's still quite crazy. However, the things that people are looking for in all price points right now are three things that I think are most important. It's the basement, it's outdoor space, and it's also a separate master suite because now that mindsets have shifted from having just a summer home where you're here on the weekends or whatnot, to spending a lot more time, people working from home, everyone wants more space. So the first thing is the basement. So the basement has a real new purpose. I mean, an unfinished basement can be made into an office, a gym, um, a game room, extra living space that can be used for people to gather and have more space on different levels outside of the main first and second floor or first floor. So I think that's really important. Number two is the outdoor space. The outdoor space has become so much more important. Whereas in the past, maybe somebody who was looking for a second home was looking for something a little bit more manageable, not as much outdoor space because it, you know, it can be costly to for upkeep. Now they want the decks, they want the pools, they want, you know, as many things as you can do outside so that you have the open air. Um, you know, I whenever I'm going to houses nowadays, if I see that there's a really great deck or a patio and say it's right off of the house, if there doesn't, if there isn't an awning, why not get one of those, you know, electric rollout awnings? Or why not build um, you know, a structure around it so you've got additional outdoor space? Because I'm I'm finding that the outdoor space is is such a huge part these days of people looking for another home in the Hamptons. Um, the third I think is most important is a separate master suite. Um, whether it's on the first floor and you can have guests or in-laws or whatnot come and stay there and have their own um quality space where they can be close but not too close. So everyone can be um happy as far as that's concerned, where you still have um the area to have your friends and relatives um who you'll feel comfortable being around with you, but also everybody having a nice um separation as well.

Dave Rattiner 4:57

But the outdoor space, are people setting them up to hang out in the late fall and early?

SPEAKER_00 5:03

Yeah, I mean, uh the amount of people who have asked me about buying heat lamps, heat lamps for tables, heat lamps outside, yes. Um the more that can be done outside even in the colder months has has become so much more important.

Andrew Doud 5:15

Are you seeing that people too, you know, when when somebody's looking for a summer house, obviously they want like a pool, maybe they went tennis, this, this, that, and the other. Are you seeing that people are saying, like, does it have a gas-burning fireplace? Is it, you know, are they looking for those kinds of features?

SPEAKER_00 5:25

Fireplaces, um, spaces for gym, for a gym. If you're not going to a local gym anymore, you want to have your own uh workout space at your house, whether it's inside or outside. Um, office, offices. I mean, the amount of people that were ordering desks for their children or themselves, where can I set up an office space, a workspace for myself or my children? Sounds like amenities.

Steve Glick 5:46

Amenities is key. You know, have an amenity-rich house with all the bells and whistles, that's what they're looking for. Now, are they looking at something that's a project to work on or something more that's more updated where they can move right in? What are you seeing in that space?

SPEAKER_00 5:58

It's more, it leans more towards the turnkey, I would say. Okay. But if there is, if there are spaces in a house or if the house can be expanded, if certain rooms can be changed into other functioning ways of living, that's what's important. You got an unfinished basement, great. Let's put in a couple deep window wells and let's finish off that space. Either keep it open or have it um have it sectioned off. So we're seeing a lot of things.

Steve Glick 6:24

I'm sure a lot of people come out here, they have their pools, their tennis, their yards, and they're gonna need advice as well. Like, hey, who should I hire? What should I do with? And that's why we always encourage, you know, that's why working with a local real estate agent, you're able to provide that information for them. You know, and um do you do how do you do that? It's vital.

SPEAKER_00 6:39

It's vital. I had I had a client of mine once say to me, they shouldn't call it Angie's list, they should call it Sarah's list. Because the amount of, you know, they should they they people come back to me um, I mean, year after year, month after month, regardless of when I sold them a house or rented them a house or they whatever it could be, asking me, who would you suggest, what do you do, but and you know, I really try and send people, I try really try and send them the best people that I've worked with. Um, I mean, I just called a plumber right now who just installed a water filtration system in my house, which I'm so excited about. Um, and I called him for a quick um a quick question. He got right back to me. So that's the those are the real benefits of using a local real estate agent as opposed to, you know, just finding somebody on Zillow or whatever the other, whatever the other mediums are because we're boots on the ground, we know who to talk to, we know how to get things done. And you know, well, just one other thing I wanted to mention is um in the trends in the market. So this this year has been amazing for us in Hamptons Real Estate. Amazing. I mean, we're really, really fortunate. There's been so many people that have been buying and um and making this their community, their home for much longer than they ever did before. And I think it's really important seeing both sides and and how how to give back, how to keep the people that work out here full-time employed, making money, whatnot. So, you know, anybody that bought a house, you want to put it in a pool, put it in. Call, you know, call your pool people, call your landscaper, put up that fence, do some more, do some more work around the yard, whatever can be done to keep our local tradesmen working, in the winter months, the fall months, it in the rain, like today, the more that can be done, the better. So I think that's that's the way that we need to keep giving back in this environment that's um that's benefited us in such a difficult time.

Dave Rattiner 8:28

It's such a good message. It's a win-win too, because when you in when you increase when you do those kinds of things, it increases the value of the house. So it's a total win-win.

SPEAKER_00 8:36

Completely. Completely. It's important.

Andrew Doud 8:38

So listen, Sarah, this week uh obviously this is sort of shifting gears a little bit, but it's Halloween this weekend. Okay, and this is like your holiday. This is it, right? So uh the last couple Halloweens, I've gone by those, the the Newtown Lane area of East Hampton.

SPEAKER_00 8:53

Yep, yep.

Andrew Doud 8:54

And I mean, you guys go all out there.

SPEAKER_00 8:56

Yeah.

Andrew Doud 8:56

I mean, it's like everybody's decorating their house, it's like a whole community thing. So this year, obviously, things are different because of COVID. So what's what's going on in your neighborhood?

SPEAKER_00 9:05

So um I'm based in East Hampton, but obviously everywhere in the in the Hamptons, people are doing their own thing. Um, you know, I I grew up in that whole um Halloween area anyway, because my mother was a local teacher in the in the school district, so everybody came to my house for Halloween. So I grew up with that. Luckily, I ended up moving one street over, living in the same sort of vicinity, and my husband and I have really built up just a huge following of kids and families that come to Trick or Treat. So this year's different, obviously. Um, the police are not closing down the streets, but we're really feeling like that people are still gonna come out, but also be socially distant. So for us, for instance, for instance, we went to BJ's, bought big candy bars, we're gonna have a table, we're gonna have our our um our property kind of um sectioned off with caution tape. Well, the carved pumpkins and everything, it'll look great. And so many people around the area are doing that as well, just to really get in the spirit of things as they do. So, you know, we'll be handing out candy, you know, socially distant, mask gloves. I mean, everybody's gonna have a mask on anyway, so double mask. Um so that's gonna be really fun. Um, what I did too, which I thought was a fun, um, a fun adventure for the whole family was I created a postcard, a Halloween scavenger hunt postcard that I sent out to all of East Hampton, Wayne Scott, and I'm against it, and um for pretty much anybody, old and new, to go around and you know, who has the who on your block has the best pumpkin? What three things do all witches need? Draw a picture of your first Halloween costume, um, find my listing at 62 McErk Street in East Hampton. So there are um there's eight boxes, and if somebody didn't get this, you can reach out to me and I can um email you a copy. But basically, what happens is whoever has one, check off that you've done it, and then come to my house at 12 Conklin Terrace between 4 and 6 p.m. on Halloween, and I've got candy prizes ready for you. You know, it's fun, it's something different.

Dave Rattiner 11:05

Well, how do they prove that they've done something? They have a picture of this.

SPEAKER_00 11:08

You know, if they bring their card, that's good, or you know, or picture, or whatever it is. You know, I'm not I'm not a stickler, you know. It's all about it's all about fun.

Steve Glick 11:16

I'm I'm I'm happy to hear that Halloween is not canceled. It's going on. I mean, it's a kid's dream to have Halloween on a Saturday. All they care about. It's gonna be it's gonna be great. And hopefully the weather holds out. I know it's raining today, but it looks like Saturday's gonna be good. Saturday's gonna be good, a little bit colder, but Halloween's still going on.

Andrew Doud 11:33

That's perfect. That's very creative. That's excellent.

SPEAKER_00 11:34

Yeah, Governor Cuomo did not cancel Halloween. It is around, but you know, everybody's doing their own thing, and as I should.

Dave Rattiner 11:41

It really is a kid's dream. Like, I love that Jerry Seinfeld. The Jerry Seinfeld. Halloween time when you're picking out costumes as a kid, Superman, Batman, Spider-Man, he's like, these aren't, you know, just costumes. He's like, these are career options to me as a kid. It's so funny. The whole mission in life that when you're a kid is to get candy in. But then when all I have to do is dress up as a Halloween uh in a costume, and everyone in the neighborhood's gonna give me candy. And there's no tricks.

Andrew Doud 12:09

Well, what's the trick?

SPEAKER_00 12:11

It's all the treat.

Andrew Doud 12:12

And it falls on a Saturday, which is like that's perfect. Um, so alright, so let's just say you're not trick-or-treating. Yes. I don't know, you know, some people don't, I guess, but yeah, uh, Dave is our man for what else is happening in the Hamptons, East Hampton maybe this weekend, if you're you're looking for something else to do.

Dave Rattiner 12:29

Yes, it's happening in the Hamptons time, and it's obviously a spooky one. As always, you can see what's happening in the Hamptons by visiting happyintheptons.com. And for this week, I'm going to give you my top three things through this weekend in the Hamptons. So here we go. Okay, so for my first pick is of course where to go trick-or-treating in the Hamptons, and the best spot is Sarah Minardi Street. Woohoo! She's over on Conklin Street, but it also runs around on Conklin Terrace. That's okay. Conklin Terrace also runs around on Cooper Lane and Shell Road. So bring your kids socially distance, wear costumes. And I know Steve, you're gonna you're gonna go as a Ghostbuster. I am. Yeah, that's right. Who's lying? Is this a family costume? Like everybody's dressing up as somebody. Alright, so don't forget to socially distance while you're there. But um, that's gonna be just so great. And uh, you know, Sarah, you really do an amazing job with that. It's really a credit to you. Um, and then so okay, so my second pick is for grown-ups, and it's uh Halloween trivia night at the Stephen Talkhouse in Anakin. There is really no place more local than the Stephen Talkhouse, and they really took a hit this summer, like so many other people did. Um, but they are still open and they'll never go away. I mean, it's a Stephen Talkhouse. Uh, and on Halloween they're gonna do a trivia night at 7 p.m. And I'm just trying to imagine what those questions might be. I'm coming up short with ideas, but I'm sure I was thinking about it. I was I was like, maybe they're gonna say, what country started Halloween? Do you guys know what country started Halloween?

SPEAKER_00 13:59

Transylvania.

Dave Rattiner 14:00

It's Ireland. So if you get that question, it's Ireland. You're welcome to all our listeners. All right, so my third and final thing is a really wonderful event at Guild Hall in East Hampton. The title is Stage Fright, and it's four spine-chilling tales woven in the moonlight on all Hollows Eve. That's happening Friday night and Saturday night. You can visit Guild's Hall website for tickets. And the show is a small company of costume actors who read short tales of the macrabee from the stage of the John Drew Theater's backyard, complimented by eerie sounds, mystifying lights, haunting projections, and some truly terrifying surprises. The performance is approximately one hour of sheer socially distanced terror. So it's directed by the famous artistic director at the John Drew Theater, Josh Gladstone, and is co-produced by Kate Mewith. I hope I'm pronouncing that correctly. And it's a fully immersive event and is a great night out as well. So that's what's happening in the Hamptons this weekend. Have fun.

SPEAKER_00 15:02

That sounds so fun.

Andrew Doud 15:03

Alright, so I wanna I want to go around real quick. Your favorite candy, Dave.

Steve Glick 15:08

Oh, I'm gonna go with Reese's pieces. That's easy. He chose Reese's, I'm gonna go with um Kid Cats. Kid Cats, alright.

SPEAKER_00 15:14

Good one. Um Reese's peanut butter cups. It's gotta be.

Andrew Doud 15:19

Yeah, that's a good one, too. Alright, I'm an MM's guy.

SPEAKER_00 15:21

You did the pieces, Hunty.

unknown 15:23

Yeah.

Dave Rattiner 15:24

That affected me.

Andrew Doud 15:29

Here's another one. Uh candy corn, yes or no? No. I don't get it at all.

Steve Glick 15:33

I don't uh I have it's like I have it in moderation around this time. Yeah. That's it. I have to have a couple pieces every year. Okay.

SPEAKER_00 15:43

Somebody just told me I I really like it, but I agree with you. And somebody just told me that I don't you don't want to eat candy corn. Pure, pure sugar.

Dave Rattiner 15:53

I just don't even think it tastes very good. I I've never understood it.

Andrew Doud 15:56

No, I'm I'm with Dave on this one. Uh all right, listen, everybody. Thank you so much for listening. Everybody have a fun and safe uh Halloween this weekend. Sarah, thank you so much for joining us this week. Thank you. Uh of course, as always, to see all our listings and find an agent, you can visit saundress.com. Once again, today's episode is sponsored by New York Title Abstract, the Hampton's leading title insurance firm. Visit NewYorkTitle.com or titleinsurance.com for more information. Thanks so much for listening. I'm Andrew Dowd, and that's what's happening in the Hampton.