Apparently, the last brokerage firm named in the lawsuit settled for $250M. Home Services/ Berkshire Hathaway is owned by Warren Buffett, settled the biggest right behind The NAR's pot of gold of $418M leaving the judge to approve it all. Berkshire is also a majority shareholder in Wells Fargo, and they're in the news a lot with shenanigans, which is a banking terms for having to pay billions in fines.

On interest rate news, the Fed kept their rates steady, and the market jumped on the news and settled where it was a week ago just under 38,000. Todays 30 year rate is 7.17% which is at a 23-year high, yet still below the forever average of 8%. I believe, after reading the rainbow of beliefs in the financial noise, is we could end the year at 6.5%. That isn't enough of a move to drive the market beyond supply and demand, which is still at a reduced transaction velocity caused by both lower inventory and price stability. This is across the country, with pockets of exceptions, and The Hamptons is not one...we still have our beaches and summer 2024 is upon us.

• The deal of the month seems to be 2210 Noyac Road at 2.195 for 25 rooms, pool, and tennis on a gated estate acre. ~On the waterfront, we like 31 Westwood for a deepwater dock, new pool, and minted out 5 BR 4 bath colonial for only 5.395 with rentals available. 
• The $1.399M starter house at 3866 Noyac Road has three floors, three bathrooms, two fireplaces, a double garage, and room for a pool. The water views don't seem to be priced in, and when this is gone, the next one is much more expensive. 
• Look out for three coming soon houses, a waterfront 4,000 SF for $3.4M, an older contemporary on Old Orchard at $2.2 that new home builders would look at for the premium 1.5 acre parcel as well as fixer-upper folks...and Victoria has a new one at the $3M level with a pool and an ADU garage apt for income or a child home from med school because year-round rentals are almost non-existent...this time of year. Call/text (917) 822-6652 for first looks.

New Construction offerings are available all sizes and shapes from 2.995M...and we sell them by the pound plus a fair margin for builders/investors who dance through the raindrops to get various approvals and then a year through the actual raindrops to actually build. We represent investors/buyers looking, and since we also help builders keep their pipeline robust with decent offerings, we also help those that want to custom build their own. Before you become a builder yourself, know that a gallon of paint isn't 18 bucks any more...it's closer to $80.

We are small enough to stay out of the nationwide battles over industry standards, but our referral pipeline goes back to the 1980s and that includes character and integrity in all our dealings. We don't have to remember what we told you. That's why we are still here, and why our business is largely by referral. Here's a shameless self promoting video showing you some other reasons why we are referred...