A longtime East Ender and one of Sotheby’s newest agents, Robert Florio shares his insights into the current sales and rental markets, a serious weapon for first-time buyers and enjoying life in the Hamptons.
On the Summer Rental Season So Far
We saw the rental season get very busy very fast at the top of the year, and then slow down during the storms of February and into March. Very recently it has picked up again, as the weather has improved. Sales activity, on the other hand, was very active throughout the stormy weather.
On East End Trends
Well, the big trend is that sales activity has been robust over the past winter. In several price ranges, inventory, for the first time in a number of years, is actually getting short on supply. This will eventually put upward pressure on pricing. Yet another indication we’re headed into a much healthier sales environment.
On the Power of Pre-Approval
For first time buyers, get pre-approved from your mortgage lender. If you’re serious about buying, you can position yourself in a strong place by making an offer on a property with a pre-approval. Searching for a home can be a thrill, but knowing you can buy your dream home when you finally find it will be an even greater and more fulfilling thrill. With the increased sales activity, you may find yourself in competition with another buyer, and having that pre-approval is very, very important.
On Life Outside the Office
I get involved in all sorts of things. I’m on the board of Bay Street Theater, which I love. I sail, and I like to go on motorcycle trips. I’m also involved in some civic groups.
On Loving the Hamptons
I love the water, sailing, the fresh air and open space. I like the crosscurrent of activity of people—locally, from the city and from far-flung parts of the globe. I raised my children here, and it still retains a small-town feel, overlaying a deep backdrop of history.
Robert Florio works out of the Sotheby’s office in Sag Harbor.