Andrew Lieb Esq, Radio Segment On Smooth Real Estate Purchase

Catch Andrew Matthew Lieb on NPR Peconic Public 88.3 WPPB - FM. He shares secrets to a smooth real estate purchase in the Hamptons and what questions you should ask before you commit to the purchase. He also explains bonus rights, FICO scores, the priority of credit and what to look for when hiring a buyer's broker. 

To listen click here

(You can fast forward to his direct segment at 19:30)

The True Cost of Moving On Up

How Much Will Upgrading to a New Home Actually Run You? 

Andrew Lieb, Esq. explains the true cost of moving on up in Dan's Papers. Read the full article here. 

Skills That Set Apart Luxury Real Estate Brokers In New York

From due diligence to principled negotiations and more, learn how the leading Real Estate Brokers thrive in luxury markets.

Read the full article by Andrew Lieb, Esq. here. 

Top Reasons to Be Thankful For East End Real Estate Brokers

The best listing agents sell property based on substance. Before even marketing the property, these agents understand that they are brokering a specific property that requires a tailored approach. 

From Due Diligence, Negotiations and Fair Housing, top Real Estate Agents continue to impress us. Learn what they do to lead the industry. 

Andrew Lieb, Esq. shares the top 3 Reasons to Be Thankful for East End Real Estate Brokers. Click here to read the full article.

Top Five Questions Most Asked Of A Real Estate Lawyer In The Hamptons

For parties on both sides of the deal, the undertaking of buying and selling property can be…involved, to say the least. An Attorney can help you negotiate the morass of legal requirements and provide insight into the process. Though each property-buying experience is different, there are several questions that real estate lawyers are asked time and again.

Andrew Lieb, Esq. shares the top five more common queries on the Huffington Post. Click here to read the full article. 

Real Estate Law: Developing the East End

Everywhere that you turn in the Hamptons and on the North Fork there are newly constructed homes. Not only is the East End’s landscape filled with residential development, but, throughout the two forks, building spec homes has become a dominant industry. Spec developers first purchase a plot of land and then improve the land with a fabulous construction that they speculate will increase the property’s valuation far more than the composite cost of the land and the construction, individually.

However, such residential construction is speculative because the house is only marketed for sale once it has either been built or is close to a finished product. As a result, spec developers are selling finished products without any guaranteed purchaser, in contrast to offering their construction services to a consumer for a fee, as is done in a custom home job. In recent years, it appears that spec developers have been very successful, as more and more speculative construction is popping up throughout our East End neighborhoods. 

Read Andrew Lieb's top five legal concepts that can make or break a speculative development project here. 

Hamptons Real Estate Law: Never Overlook the Lease

Andrew Lieb discusses suffolk county lease requirements in his latest article Hamptons Real Estate Law: Never Overlook the Lease, featured in Dan's Papers.

Read the full article here. 

Estate Deals - Free Lieb School Continuing Education Course Offered in Southampton

Estate Deals

Instructor: Andrew Lieb, Esq., MPH

Credits: 3

Price: Free

Sponsors: Behind the Hedges, Citizens Bank, Douglas Elliman

Course Summary: Estate sales offer a unique opportunity to help the grieving by doing your job professionally. Starting with speaking the language of the Surrogate’s Court, this course will empower the real estate broker / salesperson to assist the Executor / Administrator in liquidating real property in order to satisfy debts of the estate. Additionally, disputes between beneficiaries and with the fiduciary, sales forced by the court, and foreclosures incident to the probate process will be discussed. Lastly, the student will be exposed to the overlay of brokerage and executor’s commissions where an Executor / Administrator is expressly exempt from the Real Estate License Law for Brokerage.

Register Online Here

Relative Matters: Thinking of Letting a Family Member Stay at Your Hamptons Estate?

If you are counting on rental income, you cannot let a relative stay at your place, even for the weekend.

Read Andrew Lieb's latest article in Behind The Hedges to find out why.

5 Ways Rich People Save Money on Real Estate Transactions

Even the most affluent buyers and sellers want to save money on their real estate transactions beyond negotiating the sales price. Many find themselves shopping mortgage brokers for best rates, trying to negotiate commissions out of real estate brokers, or finding the attorney who charges the least. There are many other ways that real savings in real estate transactions are realized beyond squeezing your service providers and commoditizing their services. Instead, buyers and sellers should realize true savings by utilizing these five tips in real estate transactions.

Read Andrew Lieb's full article in The Huffington Post or Dan's Papers.

An Eruv in the Village of Westhampton Beach May Bring in More Real Estate Sales and Rentals

A public utility company is permitted to enter into an agreement with a private Jewish group to erect displays of religious significance on the utility poles said the courts on January 6, 2015. 

In 2008, there was discussion of putting up an eruv in the Village of Westhampton Beach. An eruv is a religious boundary that permits observant Jews within the enclosed space to carry and push items on the Sabbath, which, under ordinary circumstances, is forbidden. This boundary is usually established by attaching strips of woods to telephone poles around the community, thereby requiring private contracts with telephone companies.

A religious group called the Jewish People for the Betterment of Westhampton Beach (or JPOE) sued the Village of Westhampton Beach to oppose the erection of the eruv, arguing that it was a wrongful exception to Jewish practices on the Sabbath and that the government, which was contracting with private parties to establish the eruv, was overtly endorsing one sect of religion over another.

Courts said on January 6, 2015 that it is lawful for public utility companies to erect eruvs as part of a contract with a private party. LIPA’s contract to erect an eruv using its telephone poles was neutral and did not establish a noticeable and overt display of religion throughout the town. In fact, no reasonable observer would conclude from the strips of wood on the utility poles that the government was endorsing one religion over another. Furthermore, since private parties had agreed to finance, install and maintain the strips on the utility poles, there was no excessive government entanglement with religion.

This decision is a victory for religious freedom as a fundamental First Amendment right but is also a victory for real estate in the area. As the strips of woods on the telephone poles are not very noticeable, they will not in any way diminish the appearance of the community. In fact, real estate sales and rentals may skyrocket in the Village of Westhampton Beach now since observant Jews will seek out the community for its eruv. 

10 Questions to Ask Yourself About a Summer Rental

Andrew Lieb's latest article is now available on Dan's Papers.

Keep these tips handy when planning your seasonal rental search.

Andrew Lieb's Radio Segment: Save a Deal From Pitfalls (Real Life - 88.3FM)

Here is a clip from Andrew Lieb's radio segment last week on Real Life 88.3 Peconic Broadcasting - You can check it out here. Topics discussed include real estate tips to close a deal for sellers and agents. Learn how to be proactive to save a deal from pitfalls.

Real Life Episode 69 - Saving A Deal

Why Not to Rent Property to a Family Member

Before letting a family member stay at your house, read and share Andrew Lieb's latest article published in the New York Section of the Huffington Post.

The answer depends on two very important factors:

1. Do you really need the money from your rental?
2. Are you actually related to your family member?

The comprehensive article is available through the following link. Full Article

Listen to Andrew Lieb's Latest Radio Segment - Real Estate Tips For Hamptons Purchasers

If you missed last week's Realife episode, you can listen to it here. The Last 10 minutes Andrew Matthew Lieb discusses purchasing a home in the hamptons and real estate tips.

http://peconicpublicbroadcasting.org/post/real-life-episode-65

Listen to Andrew Lieb Discuss Real Estate Tips for Hampton Purchasers on 88.3 FM Today

Andrew Lieb Shares Real Estate Tips on 88.3FM today at 5:50pm
Tune into 88.3FM (WPPB Peconic Broadcasting) for Realife with John Cristopher from Brown Harris Stevens.

Today's Line Up of Guests:

5:30pm: Cia Comnas, Executive Managing Director of Brown Harris Stevens discusses the "hot" areas in the Hamptons and what it takes to be a successful agent in the Hamptons.

5:40pm: Greg Heym, Chief Economist for Terra Holdings enlightens us about the recent release of data for the numbers in the City and here in the Hamptons.

5:50pm: Andrew Lieb, Esq., owner of Lieb at Law and Lieb School wraps up Realife as he shares some of his secrets that a buyer should know before they purchase a home in the Hamptons.

http://peconicpublicbroadcasting.org/programs/real-life-wppb

Andrew Lieb discusses Broker Commissions today on Real Life WPPB 88.3FM

Andrew Lieb Shares Real Estate Tips on 88.3FM today at 5:50pm

Tune into 88.3FM (WPPB Peconic Broadcasting) today (8/15) for Real Life with John Cristopher from Brown Harris Stevens.

Today's Line Up of Guests:

• 5:30pm: Aspasia Comnas, Executive Managing Director of Brown Harris Stevens discusses the community spirit that exists in the Hamptons and her participation in Escuela de Samba Boom.

• 5:40pm: Jesse Matsuoka, owner of Sen restaurant in Sag Harbor talks about the Hamptons but also his time in Japan and witnessing the greatest Sumo wrestling match of the century.

• 5:50pm: Andrew Lieb, Esq, owner of Lieb at Law and Lieb School discusses broker commissions and how sellers can be responsible for owing more than one commission. 

You can listen live on the website too:

http://peconicpublicbroadcasting.org/programs/real-life-wppb

10 Secrets to Closing the Deal

Highlights from Andrew Lieb's latest article featured in Dan's Papers...10 Secrets to Closing the Deal

1. Confirming Deeded Ownership
2. Setting the Listing Price
3. Staging and Active Concealment
4. Proactive Home Inspection
5. Broker's Loyalty
6. Budgeting for Transaction Costs
7. Certificate of Occupancy
8. Survey and Boundary Line
9. Avoiding Capital Gains Tax
10. Clearing Liens

Read the full article in Dan's Papers 

Hamptons Real Estate by the Numbers

The Great Recession is finally showing signs of letting up, but this is old news to real estate agents in the Hamptons where the housing market recovered long before Main Street felt any relief. In 2013, the Hamptons and North Fork of Long Island saw approximately 2,600 real estate transactions – a 70% increase over 2009 when the Great Recession was at its lowest point. That number is poised to grow this year. With that in mind, let’s take a look at some of the eye popping numbers from the Hamptons this year.

The $147,000,000 Estate.  This summer, Barry Rothstein, founder of the hedge fund Jana Partners, purchased an 18 acre beachfront estate in EastHampton for a reported $147,000,000, making it the most expensive single family home ever sold in the United States. The average home price in Suffolk County is approximately $347,200, meaning Mr. Rothstein could have purchased 423 homes for the price of his Hamptons estate.

High End Homes.  According to Douglas Elliman Real Estate’s Q1 2014 market report, the average sales price in the Hamptons checks in at $1.7 million.  To show how skewed that number is by high end luxury sales, the median sales price is $880,000 – roughly half the average.  According to hreo.com, the Hamptons multiple listing service, 282 homes are listed for sale at $10,000,000 or more, a bargain compared to the $147,000,000 Rothstein Estate.  In the 1^st Quarter of 2014 alone, there were 37 sales over $5,000,000. Nationwide, purchases costing $1,000,000 or more represent 2% of all home sales. Of the homes listed on hreo.com, more than 67% check in at $1,000,000 or more.

“Average” Homes Disappearing.  Hreo.com searches reveal that there are only 183 homes for sale in the Hamptons region, which stretches from Remsenberg to Montauk, listed at $350,000 or less, the average home price in Suffolk County. Of the 5,330 listings on hreo.com, only 3% are at or below the Suffolk County average. For those of you keeping track, there are more homes for sale over $10,000,000 in the Hamptons than there are homes under $350,000. Meanwhile, nationwide, the median home price is $188,900. At that budget, there are 27 homes for sale in the Hamptons, all of which are 1 bedroom summer retreats. Even mobile homes in the Hamptons come at a premium, with this mobile home checking in at a cool $199,000. 

Summer Rentals. According to some estimates, the population of the Hamptons increases by 500% from winter to summer. As a popular vacation spot, it should come as no surprise that many Hamptonites choose to rent a summer home instead of buying. What may shock you, however, is the price of some of these rentals. With the rental season already well underway, there are still 186 homes for rent in the Hamptons on hreo.com at a cost of over $350,000 for the summer, meaning there are more Hamptons summer rentals still available over the Suffolk County average home price than there are homes for sale at or below the Suffolk County average.

When looking to make your summer escape to the Hamptons, remember to bring your wallet with your sunscreen!

Andrew Lieb writes in Dan's Papers New Magazine Behind The Hedges - 6/27 Issue "10 Secrets To a Smooth Hamptons Real Estate Purchase"

Check out Andrew Lieb's latest article featured in Dan's Papers Behind the Hedges Magazine, 10 Secrets To A Smooth Hamptons Real Estate Purchase.

In this article Andrew navigates the legal and otherwise logistical waters of buying a home on the East End. 

Topics discussed include:

• Affordability
• Bonus Rights
• Credit
• Broker
• Pre-Approval
• Title Report
• Survey
• Rental Option
• Date for Possession
• Certificate of Occupancy

The magazine is out so you can pick up a copy all over the east end and Manhattan. 

Here is a link to the digital copy.