Inside the Housing Market with John Brady

John Brady of Nest Seekers International is one of the top producing real estate agents on the East End. With the market moving in the right direction, the movers and shakers in the industry have risen to the occasion, and Brady’s track record is proof of that.

Born and raised in Montauk, Brady attended East Hampton High School and SUNY Maritime Merchant Marines. His mother, Carol Brady, owns Brady Realty in Montauk and his late father, Jim Brady, was a hugely successful realtor in South Florida. Brady obviously had two great role models as well as exposure to the world of real estate at a young age.

“I think the market in the Hamptons is now what you would call a “normal” market. Now we see all sides of the coin in real estate. In normal markets, you will find all kinds of distress sellers, conventional sellers, first-time buyers as well as luxury buyers. Presently, absorption rates are at 4.6% as compared to 1.66% in recent years (the amount of homes that are actually selling),” Brady shared.

One of the main reasons homes sell is because they are priced right. Agents are all on the same page when it comes to listing a property. A home with an inflated price tag not matching the temperature of the market will most likely get little or no action. In the end, some sellers may decide to adjust the price while others may take it off the market completely and wait while they observe the market from the sidelines.

“Sellers that are willing to price their homes to sell are the ones that are moving the most. I’ve sold 45 homes in 39 weeks. mostly due to the realistic expectations on behalf of both sides of the transaction.” I was surprised to find that seasonal rentals were good this year. There have been varied reports on rentals, but summer rentals at Nest Seekers were prosperous. “We found that activity started as early as December and I have customers that are actually trying to seal the deal for next summer as of now. I think this is also a great sign,” Brady said. This is yet another example of positive activity in the Hamptons.

Brady explains that it can be challenging to tell a buyer their home is not worth what it once was several years ago when the market was skyrocketing, specifically from 2006-2007 when the value of some homes increased by up to 80%. He recommends getting an appraisal from a third party. Appraisals are intended to give a fair market value for your home. It’s definitely a good idea and it will offer the prospective seller “peace of mind” when deciding on the marketable listing price.

“I’m seeing a lot of buyers from all corners of the world,” Brady said when asked about the cross section of buyers in the current market.

European clients are definitely on the rise. Purchasing properties in the Hamptons provides a smart investment as well as a great place to vacation on “holiday” as they say. I discovered this to be across the board when talking to agents from different firms in the Hamptons this season.

There are important things to remember when selling or buying a home and Nest Seekers offers their clients the best of the best as Brady shared: Sellers need INFORMATION. Sellers need to see the market from the buyers’ perspective. AVAILABILITY – most clients want to know that they can get in touch with their agent at any time. Your agent needs to be accessible. PROACTIVITY – a written plan of action outlining all the details of the agreement is imperative. If an agent isn’t present and doesn’t have a PLAN OF ACTION, the important details will fall short. But the most important thing is listening to the needs of your client and matching them. And that is the key to Brady’s success.

When Brady is not at work, he enjoys spending time with his wife and two little girls at the beach or sailing on their boat. “What I love about the Hamptons is that we live in a permanent paradise.” That we do.

For more information please visit www.nestseekers.com or call John Brady at 631-353-3047 or mobile at 631-294-4216.

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