Hamptons On Air
Hosted by real estate agent Sarah Doud of Saunders and Associates and Bill Wright of PAR East Mortgage. The duo covers the Hamptons Real Estate market while highlighting local events, business owners and community organizations.
Hamptons On Air
Hamptons On Air Episode 9: North Fork Love & A Montauk First
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Hosted by Hamptons Real Estate Agent Sarah Doud of Saunders and Associates and Bill Wright of PAR East Mortgage. The duo covers the Hamptons Real Estate market while highlighting local events, business owners and community organizations. In this month’s episode they share the airwaves with real eatate attorney Asaf German - discussing trending Hamptons adjacent North Fork.
Don’t miss our guest’s big reveal about learning to swim at almost 50 years old and competing in the upcoming Montauk Triathlon!
You're listening to Hamptons on Air.
SPEAKER_01Welcome everyone to another edition of Hamptons on Air. I'm your host, Bill Wright with Paris Mortgage, and my co-host, Sarah Dabb with Saunders and Associates. Hey Sarah, how are you?
SPEAKER_00We are doing excellent. Happy summer, everybody. I feel like we're in the heat of it right now.
SPEAKER_01We are. It is. If the weather stays nice.
SPEAKER_00That's it. We're rocking and rolling.
SPEAKER_01We have a special guest today, ASOF German. ASOF, how are you? Doing incredible. I'm honored to be here. I'm excited to be here. That's great.
SPEAKER_00We've been having a lot of fun like pre-show. So, you know, I can't even even imagine what the actual touch upon a lot of things.
SPEAKER_01I'm ready. It's cool.
SPEAKER_00Lots of fun. Can you share with us your kind of Hampton story? I know you live literally a mile from here where we're doing this episode today. You know, Southampton must mean something to you. Share that with us.
SPEAKER_02Yeah. So throughout the years, I've been practicing representing clients, buyers, sellers, uh, doing closings in the Hamptons for about 24 years. Um in my non-work life, I like to live a very private life. So for years, I've been coming to Cooper's Beach with my kids. And uh the number one beach in America. I just literally walked out of I literally walked out of Cooper's one day with my children, just literally walked into an open house and bought a house.
SPEAKER_00That's how I did it.
SPEAKER_02And uh I wasn't worried about my commute. And uh I wanted to have more of a background and and foothold here in the Hamptons, and to do that I needed to lay my hat here. That's great.
SPEAKER_01That's great, it's a great place.
SPEAKER_00So Cooper's Beach was a major draw for you. And what else was it about kind of this place that called to?
SPEAKER_02The village, the stores, the restaurants. I don't I don't know how to cook. I eat out.
SPEAKER_00We have so much in common.
SPEAKER_02Almost daily. Uh just love the energy here, the people, where I am, how close I am to my offices, uh, the commute. Um within two miles of my house, I have Cooper's Beach, my gym, the village. Literally, it's literally, literally. Everything I could want is within two miles of my home.
SPEAKER_01Of a beautiful village. So uh it's I particularly love the village in the wintertime when they decorate for the holidays.
SPEAKER_00Yeah, because you're here, you get a t a taste of it because you're in the world.
SPEAKER_01We're in here all the time, yeah. And I do love that. I mean, I don't like I I prefer the summer months, but the village year-round is a beautiful place. Love it.
SPEAKER_02And it changed from COVID. You know, years ago, it used to be very quiet. And I've represented people during that COVID period that came here for a month to six months to a year and never left. So it's a little more vibrant, a little more people, it's a little more homey. And uh I love, love, love. I personally just being here in the village because I get to spend more time with the owners, you know, the people that are here, and I get to really meet everybody in a more personal, relaxed uh atmosphere. So I love it.
SPEAKER_00And actually tonight, you know, we we noticed that the the buzz in the street is already getting kind of exciting, and it's likely because they have the concert in the park, um, which Saunder sponsors. I'm gonna be out there later in August, you know, with the table saying hi to everybody and stuff. But have you had a chance to go to any of those, you know, pull out the lawn chair and sit and listen to the live music Wednesdays?
SPEAKER_01No, bottle of wine. I need more of that in my life. You do. You have to get a beach chair, bottle of wine, and relax. You don't have to twist my arm, but yeah.
SPEAKER_00It's a good time. So um Wednesdays they do that, and you know, it's always just really easy. Walk up and relax. Um, all right. So, you know, we're here kind of today at real estate is the big topic of conversation that we all touch on daily. And for you with real estate law, um, I I just want to get an understanding of kind of your journey to that and you know how you got got into that world as well.
SPEAKER_02Um luck, timing, opportunity, uh, work ethic. I came out of school. Uh I finished law school. A friend of mine out of law school had a uh position representing a bank. He said, Do you want to be a bank attorney? I said, Sure. What is a bank attorney? You know, just like anything else in life that you learn in school in real life, not really always the same. Yeah. So I came out of school knowing nothing about nothing, doing about 80 closings per month, and just getting this is 24 years ago. Just kind of get thrown in the fire. That's kind of the only way to do that. And in my opinion, there is no better way to learn. I got that opportunity uh within a year or so after that, I went on my own. Um, and uh throughout my 24 years of doing this, where I really got blessed is just the people in my life. You know, for any of us to be up here, I mean here in life, which is the only place I strive to be in our world because there are so many moving parts the bank, the lawyer, the realtor, the appraiser, the home inspector. Um, it's all about to align yourself with the right people. And where I really, really got blessed is the people in my life. Uh I have uh over 10 paralegals uh that have um 10 to 39 years experience each.
SPEAKER_00What would you say is like the biggest thing trending? Do you see anything coming up often?
SPEAKER_02What what I am surprised of in this day and uh day and age with technology, that there's still so many people in industry that have no idea what they're doing. It's pretty scary. It is because today you can uh chat GBT a qu a question any you want and get the answer. And I don't know if it's laziness, I don't know what it is, but I'm I'm still a little blown away.
SPEAKER_01No, I think what it is, on especially in your specific niche as a bank attorney, you know, the times changed, and I don't think people changed with the times, and things now are very matter-of-fact. There's no changing the HUD at closing, there's no right, you know what I mean? So those things, and you need a full-time team to manage the changes and the back and forths. Once, you know, people don't realize once a loan closes and we get it into closing, there's a lot of correspondence that go back and forth before you actually sit down at that closing table. And you you can't have someone who's not there.
SPEAKER_02You know, just to touch on about 75% of what I do is representing buyers and sellers, about 25% is bank.
SPEAKER_00Right. Yeah. And so uh just following some of your social media online, which by the way, guys, he has a great following. So if they're you know, if you're thank you on social media and you want to give that a follow, it would be great. What is the the handle name? Should be.
SPEAKER_02ASAF underscore German.
SPEAKER_00Perfect. Look at that, he's got it. Okay, so so check that out. But what I noticed on there is that you are it's Nassau County, it's Suffolk County, you have a couple different areas. Are you noticing an area that tends to be hot or in any way? Like what's kind of like, oh, people are buying there again.
SPEAKER_02Anything that you I feel like the super high end here is very hot. Uh I'm in different areas. When I wake up in the morning, I started my Woodbury office, which is in the Nassau County LIBOR building, same building. Then I have an office in Smithtown, and I have an office on Love Lane and Mattatok. So I get to feel a little bit of what's going on.
SPEAKER_00I'm glad you mentioned everywhere.
SPEAKER_02One of the best business decisions I ever made was open my office on Love Lane.
SPEAKER_00Well, that's where I was gonna kind of go with it, is that yeah, I just um launched a listing that's over in Orient. And so the North Fork is kind of this hidden gem that that people are starting to discover. Oh, it's beautiful. And I hope when as it gets discovered, it gets discovered in a way where they keep a lot of what makes it so beautiful. You know, we've done a good job on the South Fork.
SPEAKER_02It's gonna stay that way because of the.
SPEAKER_00But I hope they can do a better job.
SPEAKER_02It's gonna it's gonna stay that way.
SPEAKER_00Um, but the but the house there is very neat. It's uh actually an old schoolhouse that was moved. It was an 1800 schoolhouse that was on the main road, and it was slid on sleds in the wintertime across the fields. They dragged, and it's a big building. You know, you're talking probably um 2,500 square feet that they just dragged across the field to its new location, uh 605 Halleok. So you're kind of like that south of the highway vibe, south of the main road vibe, um, beautiful farm fields close to the water. It has a very sagaponic feeling when you're there, when you get out and you just feel the fresh air in the farm fields, um, minus the ocean. But um, but so you have this schoolhouse that this artist transformed into his artist studio legally, you know, with the town when he moved it and created masterpieces that were enormous, um, two stories high. And he became quite famous for his work, and now his pieces are in Washington, DC. Oh wow. Um and then in addition to that, you've got a 4,000 square foot house. So it's like, you know, the schoolhouse is just part of the little story. Right. Um, but it's and it's all under three million. So for you know, three acres with an incredible story, it's very special real estate. And I feel like there's a lot of those kind of hidden moments on the North Fork still, which are kind of fun to discover.
SPEAKER_01We've been doing a lot more properties on the North Fork in the last, you know, 12, 7 to 12 months, which you've noticed. You know, one of the things though, let me ask you, do you run, have you ever encountered a lot of these properties um date back prior to even COs issued?
SPEAKER_00Yeah, so often it'll be like in lieu of C of O. Right. Uh is a is an issue, or you know, I don't want to even say issue because it's resolvable and things can still close. But that's a common thing that I noticed on the North Fork.
SPEAKER_01Yeah, yep.
unknownYeah.
SPEAKER_01Do you find that to be now what what happens with that, right? Because do they have the same um law as like the town of Southampton updated CO required at purchase? They do not, right? No. Yeah.
SPEAKER_00So sometimes you will close with just this paperwork that literally says it's a big thing. The banks are okay with it.
SPEAKER_02Some of these things involved on the town, whether it's in a incorporated village, the buyers, the deal, whether the bank, right? Because a lot of different factors on whether this is a big deal or no deal. Right. Yeah. It depends on the buyer, whether the lender, whether they care.
SPEAKER_01So we found the lenders don't care. I mean, they're gonna match they're gonna match the appraisal to what they see, you know, and if if if it's if there's widely a different property than what was there, then you can have an issue. But other than that, we don't and title doesn't seem to mind either.
SPEAKER_02Well, the reason just so you know, for education purposes, title will never have an issue. For title purposes, COs are for information purposes only. So whether you buy a house, if there is a CO or zero CO, you're still getting clear title. Right. Doesn't affect title.
SPEAKER_00Right. Good information. All right. So aside from from kind of that, I you know, I think we do want to get a market report just to have our viewers, you know, understand what's going on. I think things have been pretty steady, but give us the spiel on that.
SPEAKER_01Yeah, so rates have actually been steady. Um, you know, I keep saying status quo, obviously, you know, everything that's going on in Iran and things like that, oil prices, whatnot are affecting, but it seems that rates are like flatlining. Now, if you know things overseas progress, that could be a different conversation, but it's looking like I think it's gonna be a steady year, which is good.
SPEAKER_00Nearly everything I have is in contract now, and there's one that's that's doing a price reduction and it's not moving because it's not priced, yeah, it's just too high.
SPEAKER_01I mean, we're busy. So it's it's very busy, which is great. It's I think it's busy across the board with new buyers, refinances have picked up as well. Um, I mean, drive around, there's so much renovation going on and construction, which is great for everybody. Absolutely. I mean, what do you see out there?
SPEAKER_02Uh I'm very, very busy.
SPEAKER_01Yeah, that's great. We actually have on one house there um there's a lot of people buyers who are kind of working the HELOC scenarios to try to free up the money to I've done more HELOCs in the last two years than I think I've done in the 19 years I've been doing this.
SPEAKER_00Yeah, just they just want to unleash that power.
SPEAKER_01Well, you yeah, and you don't want to lose three, three and a half percent or four, whatever they're at. So you go behind and do the HELOC and tap your equity that way. Exactly. Yeah, exactly.
SPEAKER_00And you can help with that.
SPEAKER_01I can.
SPEAKER_00There we go. All right, and then you know, I I have to mention the fitness because if when our folks do go onto social media, they're gonna see, you know, that you're also out there doing a lot of very cool things. Um, one of which is currently trading for the triathlon. Um, which one is it that you're gonna target?
SPEAKER_01Montauk, October 4th. Very mentally challenging.
SPEAKER_00This is good stuff. So my husband did that one. Um, and a few of the Hampton Bays Fire Department uh crew there did it all together a couple years ago. Then he went on to do an Iron Man. Which is the real deal. Which is the real deal. And I don't know, I think maybe maybe you're a future Iron Man sitting here at the table.
SPEAKER_02I look forward to I like doing car things. Uh I like setting tests, I like looking forward to things. That way I don't feel stagnant in life. Um, there are all things I never thought I would have done. I I've done four high rocks over the last few years. I just kept on getting hurt. So rather than sit around and do nothing, I pivoted to triathlon. Uh, because two-thirds of that is non-impact swimming and biking. So I I can't cripple myself like I am when I'm pushing a sled and doing burping broad jumps. Right. Right. Um, and I'm excited. It's humbling because I'm learning how to swim.
SPEAKER_00But uh, I think that's a very interesting part of the story, too. That is a story. That is a story. We put the headline here.
SPEAKER_02I'm learning from scratch. You're starting from scratch. Like a two-year-old.
SPEAKER_00Yeah, can't swim, but gonna do it.
SPEAKER_02Oh, I'm gonna do it.
SPEAKER_00I think we have a follow-up story. I think we definitely have to have a follow-up. I'm putting it down to the calendar, right?
SPEAKER_02I wake up in the morning to meet a one-on-one coach to literally teach me how to swim. That's amazing. I love it.
SPEAKER_01It's great.
SPEAKER_02Again, it motivates me too.
SPEAKER_00What is that like? Because that's a a situation I have not been in that I can't remember, right? Those early days of learning. So, what does it feel like at this time in life to learn to swim?
SPEAKER_02Uh, humbling. Yeah, you gotta get in. I'm an athletic guy. I've done a lot of athletic things, but then you throw me in a pool and it's like some sinking. It's scary. Uh, but I'm gonna do it. So the worst thing that's gonna happen, I'm gonna be 50 in December. I'm gonna learn how to swim at 50 years old. I'm gonna do some really hard things. I'm gonna get my body in the best shape of my life. And uh, it motivates me. I uh I've gotten a tremendous amount of business from it, tremendous following from it, yeah, tremendous amount of clients from it. And uh I I love it. You know, I I motivate a lot of my uh friends, I push a lot of my friends. They come to me for life, and um when they see me doing it, you know, they're like, if you could do it, I could do it. You know, and uh, you know, I just want to leave the people around me in a better in a better place. So I love it. I'm a very motivated, energetic human. I'm blessed to have amazing people in my life. And I just want to I wake up every day, just want to just just want to crush life. I love it. Let's do it.
SPEAKER_00All right, well until next time, we'll be crushing life. And um for that we are signing off and we thank you for thank you for coming an absolute honor.