July has brought summer to us! And in full New York City fashion, we have the excitement of heatwaves and thunderstorms. As a respite, this special summer edition of Culturally Inclined focuses on The Hamptons and features various events and activities to partake in this weekend and throughout the season. You may not know that Warburg has a partnership with Saunders & Associates, the largest and most active locally owned real estate brokerage in the Hamptons. The firm represents more than $2 billion worth of Hamptons real estate and sells many of the area’s highest-priced properties. Saunders has over 180 agents and offices in Southampton Village, Bridgehampton, and East Hampton. Warburg exclusives are shared among and viewed by our well-connected Saunders partners and there is still time for a summer rental.
However, if you do find yourself in the Big Apple, plan on celebrating lunch or dinner during New York City Restaurant Week from July 22nd to August 16 (click on the link for additional information). Support local business, there are 100’s of amazing restaurants to dine in.
This week – July 18th, the 30-year, fixed-rate mortgage averaged 3.81%, moderately rising from last week’s 3.75%, according to the Freddie Mac Primary Mortgage Market Survey. The rate is still much lower than the same time period in 2018 when it averaged 4.52%. Mortgage rates moved higher after remaining at around the same level for about three weeks. The rise in rates was driven by continued improvement in consumer spending and partly due to optimism around a forthcoming cut in short term interest rates, which should provide support for business and investor sentiment. Despite this slight increase in rates, home buyers are taking advantage of the multi-year low rates in droves, which is evident in the consistently higher refinance and purchase application volumes. The improvement in housing demand should provide sufficient momentum for the housing market and economy during the rest of the year.” – Freddie Mac
Pack a picnic and traverse along the Long Island Railroad, the Hampton Jitney, FlyBlade helicopter or ferry service to explore the natural beauty, the arts, and the great food the Hamptons offers.
P.S.: Tell your friends and family that I am on duty to help with their home purchase and selling plans for 2019. The Warburg Way is best encapsulated in Fred’s blog article “At Your Serve” I recognize that being entrusted with a client’s listing or new home search is a significant responsibility. My goal is to build relationships through the deployment of experience and expertise, wielded with the integrity for which the Warburg brand is known.
“Peck prided herself on being well-mannered, often to the point of rudeness.”
― Danielle Ganek, The Summer We Read Gatsby
“Ghost Hampton” took me years to write — but it won’t take you that long to read!”
― Ken McGorry, Ghost Hampton
FROM MONTAUK POINT.
I stand as on some mighty eagle’s beak,
Eastward the sea absorbing, viewing, (nothing but sea and sky,)
The tossing waves, the foam, the ships in the distance,
The wild unrest, the snowy, curling caps—that inbound urge
and urge of waves,
Seeking the shores forever. Walt Whitman