20 Apr 2018

What's Your Deal?

Having worked with hundreds of buyers over the past 9 years, the one request I hear the most is…”I want to get a good deal”

As a Seasoned Hamptons Real Estate Agent, I understand that the majority of my clients are second homebuyers and investors who have different goals than a full time homeowner.

With the evolution of transparency on the internet, how do we identify that great deal?

First we need to understand that most homes listed for sale have been priced relative to the Hamptons market.  There are very few that are asking more than 10% over current market value.  Second, are you an Investor purchasing to rent, or an end user looking for your personal Hampton’s Experience to enjoy with family and friends?

Most Owners are negotiable.  However, some investors interested purchasing a rental property present offers 15-20% below asking price, which is unrealistic.  This strategy just insults the seller and turns them off to negotiation.  My first suggestion is to identify a desirable location and review the surrounding homes’ rental history and transfer prices.  Properties closest to our Villages, Oceans and Bays will usually command a higher price point.  An investor should expect to generate 4-5% of their investment’s selling price for the summer months.  For example, a $1,000,000 home that is styled and well maintained will likely generate $40K-$50K from Memorial Day to Labor Day.  Choose and agent who is an expert in your target area to help you identify your Investment “Deal”.

For end users the “Deal” involves more than just price.  It’s about you, your family and the Experience you are looking for in a Hampton’s getaway.  I like to ask my clients, “Where do you want to wake up in the morning?”  Do you want to walk to town for a cup of coffee, wake up to the sounds of the ocean, or enjoy a private retreat?  Your “Deal” is up to you.  First I’ll help you identify that perfect home, then we negotiate price  and term that work for you.

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