REAL ESTATE

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REAL ESTATE DEALS

"Builders are buying land and teardowns again," says Gary DePersia, senior vice president at the Corcoran Group in East Hampton, adding that builders such as Farrell Building Co., Michael Davis Design & Construction, Gavalas Builders and Silvera Properties are scooping up land between $2 million and $5 million south of the highway. "Two of my Sagg Greens lots went to spec builders, while another builder/developer has bought two of the three Cross Highway parcels that I had available in East Hampton. I wouldn't be surprised to see him make a play for the last remaining parcel."

DESIRABLE LOCALE (click photo for larger view)

Recently, DePersia says, property is selling in a broad range of prices ($1 million to more than $11 million), so builders who were sidelined in 2009 have been feeling confident to buy in 2010. "So far this year, I have seen 15 of my exclusive listings with a total value of over $75 million sell, while last year at this time I only had a fraction of that." Buyers are paying attention, DePersia says, presuming these tricked-out houses will come to market at a discount. But not every agent employs the same sunny disposition.

Seeing Green
It's all well and good to want better for the planet, but geothermal heating ain't cheap. When it comes to going green in a gray economy, are consumers still willing to foot the bill?

"Whether the home is large or small, the use of good building science has become increasingly important to architects, owners and builders," says Bob Morsch, vice president and business development director at Telemark Inc. "Sustainable building strategies and techniques are no longer an afterthought."

COBB ROAD COMPOUND (click photo for larger view)

When a Southampton home was ravaged by fire, Telemark and a number of other sponsors joined the Hamptons Green Alliance to restore the home at cost, creating the HGA Home, a model for the future of green living. In May, the HGA Home won the New York Solar Energy Industries Association Residential Net Zero Energy Award. In addition to meeting the goal of net zero energy, the home will also be embodied carbon neutral, with zero-carbon-footprint and carbon-neutral contractors and materials, achieving the United States Green Building Council's highest "Platinum" level rating.