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Hamptons Agents Sum Up 2014 in Real Estate, Part II

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We asked a number of prominent local agents their conclusions about the year that just passed and make some predictions for the future. Today we have Gary DePersia and Susan Breitenbach.

Gary DePersia, Corcoran

What neighborhood saw the most change this year?
As far as asking prices are concerned, North Haven has seen a tremendous surge in listings over $20M. With the sale of a property on Robertson Drive at $31.5M, there are now four properties asking over $20M, including one in the $30s and two over $40M, the largest being on 6.5 acres asking $49M. Makes my sale of Tyndal Point on 55 acres with 1000 feet of waterfront look like a giveaway. These asking prices are every bit as pricey as South of the Highway ocean and bay numbers. Will be interesting to see where they ultimately trade.

Sum up 2014 in three words:
Record setting year.

Your favorite town this year and why:
Sag Harbor. Having lived in East Hampton for almost 14 years, I have spent the last five as a resident here. It continues to be my favorite. It is the only village in the Hamptons that you actually see people cramming the streets at night before and after dinner. In other towns, people tend to go to dinner then get in their cars to go home. With a dozen restaurants within walking distance of each other, new condo developments and marinas at the foot of Main Street, Sag Harbor will become the favorite village for many Hamptonites.

Biggest building trend in 2014:
Larger houses coming back.

Trend you'd like to see crushed in 2015:
The phantom buyer. There are a growing number of people out there who amuse themselves and inflate their egos by not only looking at houses they have no intention or ability to buy, but actually agree to a price, usually a very high price, and starting contract negotiations that inevitably end with sellers, brokers and lawyers spending time and money on a transaction that never happens. There was one particular buyer this year who did it with three or four properties.

Any predictions for 2015?
There will definitely be more real estate surprises.

Susan Breitenbach, Corcoran

What neighborhood saw the most change this year?
The more rural areas of Sagaponack and Bridgehampton have been very hot the last few years, but this year we also saw a lot activity in Southampton and East Hampton again, both areas with record breaking sales. Some newcomers that are still not demanding as high a price range, but getting there, are Sag Harbor and Amagansett.

Sum up 2014 in three words:
Best Year Ever!

Your favorite town this year:
I love all of the Hamptons and each has their pluses, because they're all so different. We have our boat in Sag Harbor, which is a lot of fun.

Biggest building trend in 2014:
Biggest trend 2014 in new construction is integrating the outside with the living areas. As far as hobbies go, I've noticed a lot of clients getting into paddle boarding.

Trend you'd like to see go away in 2015:
What I would like to see go away is some of the traffic, but that might be a bit unrealistic!

Any predictions for 2015?
I think all signs for 2015 point to another great year for real estate in the Hamptons. The market is as good as I have seen it in the 26 years I have been a Hamptons broker.