Southampton Real Estate
Started by pricesNYC
almost 17 years ago
Posts: 28
Member since: May 2009
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The market is what the market is.
Offer what your numbers suggest, show comps if you can, and explain your rationale.
No need to stay out of the game because you're afraid some people might be offended.
Do you think Hamptons prices will fall along with NYC prices? Am I wrong to think the Hamptons prices are part of the bubble?
What do people think of the second home market? What are the predictions for the prices of 2nd homes as compared to prices of primary residences?
I'm waiting for my 3br on a decent lot S. of Hwy for 500k EHampton. Keep the faith, it will happen.
Prices have already fallen quite a bit on the East End. But there have been very few transactions in the last six months, so it might be difficult to find comps for the properties you are interested in. Have patience, continue to make bids at the price you are comfortable with, and eventually you'll make a deal.
Does anyone have any thoughts about how the Shiller method of pricing applies to second homes? These homes aren't necessities, they are luxuries. Any thoughts would be appreciated. Thanks!