New to the Hamptons portion of SE and new to thinking about a vacation home in the area.
So the inventory looks pretty unbelieveable. Is anything selling in the $1mm to $2mm range from Shinnecock Hill/ South Hampton up through Sag Harbor? What time of year is usually active in the Hamptons for signings? Pretty clear that people expect a dismal Fall - curious for people's input.
You"re about to witness the DEEP FREEZE.. Labor DAY has finally come..
The CHOPS Will Blow you away..!! NO Broker will refute me here..They already camatose out of fear. They deserve it for their Bloated behavior from 2005-07..Getready ONLY for SHORT SALES and YES the occasional Foreclosure HIP HIP HOORAY !!
I was hoping to agree with sunclaus1 but then I just got an email from my broker who says she is busier than ever before and "people must be feeling rich" because she has so many transactions going on. On what do you base your info sunclaus1?
Yes, some brokers are comical with the BS they toss out there. There is no enthusiasm out East. But know this... what you buy, you will be stuck with for a while. Inventory is at an All-Time high out there.
Lkgsoh--- It is obviously in all brokers' best interest to tell you how "busy" they are. Do you really think they're going to say "Nobody's buying right now" when their own income depends on creating an aura of exuberance, and many of them are trying to sell their own homes? They are collectively trying to create a feeling that prices will be rising soon so they can push buyers into buying NOW. But just take a look at the inventory in the Hamptons. Anyone who has studied the market knows that the same houses have been listed for many months and even years, with numerous price decreases... and still no buyers, even though many of them are nice homes. I believe sales are happening at the very low end, but the middle and upper markets are stagnant for the most part. When there is a rare sale in the middle and upper ranges, brokers promote them as though they are frequent---they won't tell you about the houses they've been trying to unload forever.
There is a certain arrogance among Hamptons sellers, and the brokers are fueling the sellers' unrealistic expectations because brokers don't want to face facts. If you buy now, you must do so very wisely or you will end up with an overpriced piece of real estate that will take many years to appreciate. Just look at the statistics out here and you will see I am right... regardless of what your busy broker tells you. She may be busy showing houses, but ask her how many she's actually sold.
Home resales in September clocked the largest monthly increase in 26 years as buyers scrambled to complete their purchases before a tax credit for first-time owners expires.
Sales jumped 9.4 percent to a seasonally adjusted annual rate of 5.57 million last month, from a downwardly revised pace of 5.1 million in August, the National Association of Realtors said Friday.
That pace was the strongest in two years and beat Wall Street forecasts. Sales had been expected to rise to an annual rate of 5.35 million, according to economists surveyed by Thomson Reuters.
"There's a mini-boom going on in the housing market," said Thomas Popik, who conducts a monthly survey of real estate agents for Campbell Communications, a research firm.
Look like GoingDown is about to reach new lows here. On reflection, with a name like GoingDown, he may never find himself out of work, being involved in the world's oldest profession.
New to the Hamptons portion of SE and new to thinking about a vacation home in the area.
So the inventory looks pretty unbelieveable. Is anything selling in the $1mm to $2mm range from Shinnecock Hill/ South Hampton up through Sag Harbor? What time of year is usually active in the Hamptons for signings? Pretty clear that people expect a dismal Fall - curious for people's input.
You"re about to witness the DEEP FREEZE.. Labor DAY has finally come..
The CHOPS Will Blow you away..!! NO Broker will refute me here..They already camatose out of fear. They deserve it for their Bloated behavior from 2005-07..Getready ONLY for SHORT SALES and YES the occasional Foreclosure HIP HIP HOORAY !!
I was hoping to agree with sunclaus1 but then I just got an email from my broker who says she is busier than ever before and "people must be feeling rich" because she has so many transactions going on. On what do you base your info sunclaus1?
Psssst, Lkgsoh - Brokers actually always say that.
HURRY or you'll be priced out! Probably not; give it a few months & see what's happening. I'm thinking the prices won't be shooting up anytime soon.
Transactions at the bottom end..The middle JUST SITS Stock prices higher recently accounts for some enthusiasm as drdrd says well see about that.
Yes, some brokers are comical with the BS they toss out there. There is no enthusiasm out East. But know this... what you buy, you will be stuck with for a while. Inventory is at an All-Time high out there.
Lkgsoh--- It is obviously in all brokers' best interest to tell you how "busy" they are. Do you really think they're going to say "Nobody's buying right now" when their own income depends on creating an aura of exuberance, and many of them are trying to sell their own homes? They are collectively trying to create a feeling that prices will be rising soon so they can push buyers into buying NOW. But just take a look at the inventory in the Hamptons. Anyone who has studied the market knows that the same houses have been listed for many months and even years, with numerous price decreases... and still no buyers, even though many of them are nice homes. I believe sales are happening at the very low end, but the middle and upper markets are stagnant for the most part. When there is a rare sale in the middle and upper ranges, brokers promote them as though they are frequent---they won't tell you about the houses they've been trying to unload forever.
There is a certain arrogance among Hamptons sellers, and the brokers are fueling the sellers' unrealistic expectations because brokers don't want to face facts. If you buy now, you must do so very wisely or you will end up with an overpriced piece of real estate that will take many years to appreciate. Just look at the statistics out here and you will see I am right... regardless of what your busy broker tells you. She may be busy showing houses, but ask her how many she's actually sold.
Home resales in September clocked the largest monthly increase in 26 years as buyers scrambled to complete their purchases before a tax credit for first-time owners expires.
Sales jumped 9.4 percent to a seasonally adjusted annual rate of 5.57 million last month, from a downwardly revised pace of 5.1 million in August, the National Association of Realtors said Friday.
That pace was the strongest in two years and beat Wall Street forecasts. Sales had been expected to rise to an annual rate of 5.35 million, according to economists surveyed by Thomson Reuters.
"There's a mini-boom going on in the housing market," said Thomas Popik, who conducts a monthly survey of real estate agents for Campbell Communications, a research firm.
Look like GoingDown is about to reach new lows here. On reflection, with a name like GoingDown, he may never find himself out of work, being involved in the world's oldest profession.