Sale at Cove Hollow Farm

Good to see someone is following Schwarzman's lead:

http://www.streeteasy.com/hamptons/sale/423465-house-467-further-ln-amagansett-east-hampton

6 million bucks & no pool? Sure, it's a fabled street but 6 million bucks & NO POOL???

Corcoran WILL CUT AGAIN 1 Million By Halloween

Yeah I agree, needs to go another million

And today's moron award goes to:

http://www.streeteasy.com/hamptons/sale/388582-house-east-hampton

The market is heading down, not up. Your first two cuts were a step in the right direction. Need to cut another $2-3mm to move it.

These people are out of their minds! This summer I looked at about 15-20 smallish houses (3br/2bth) south of the highway between bridge and east and they are all asking between 2 and 3.5 million. Not one has gone into contract - I don't even think they got any offers. But no one is reducing their prices (other than the token $50K) when they all should come down by 30%-50%. I too have seen one house that has gone up in price! Absurd! I swear I think the brokers are driving this -telling the sellers that it will all go up again shortly. Every broker I know owns investment properties or is flipping houses and they are just perpetuating this nonsense because they are in it neck deep. I am sickened that when that 3Q report comes out it will show a huge inventory but the brokers will spin it as a increase in sales (when there is ALWAYS an increase in 3Q. I fear that the delusion will continue for some time and that I will be renting yet again in summer 2010.

To all prospective buyers: I am the leader of a "no-discount for slummers" movement representing Hamptons homeowners that ensures that we'll never have to look at your pig-ugly faces in our nice neighborhoods.

There's still plenty of waterfront availabl in the Bronx. Have you looked there recently?

With all due respect to Tiger59, I am the leader of a "buyer, make your contract contingent upon an appraisal, check the square footage with the county before buying, make sure preforeclosures aren't too abundant in your home/neighborhood of choice." And, if the seller has a 'tude...NEXT. No offense, but your comment makes the mountains of Pennsylvania look intriguing, and that isn't good for the east end.
Prices are declining, and any seller that wants to sell needs to work with a buyers market. It's temporary, but it's reality.

Temporary? We're probably 3-5 years away from a bottom on east end real estate.

NYC10013, agreed, although temporary is subjective- 3-5 years to a grandma is fleeting.

Well said, eastendagent. I really don't know what point Tiger59 is trying to make anyway. Here, he makes it sound as though he is a current Hamptons owner who is trying to keep out buyers that are looking for a discounted, fair deal (the so-called "pig-ugly"). Yet on the "Fall Sellers Mentality" discussion, he complains that he was outbid on a house in the Hamptons and is now looking in Garrison or Rhinebeck. Something doesn't add up.

Can't we keep these discussions at a level where we're sharing relevant information in a profesional manner rather than hurling out insults?

I did not understand Tiger59 either. Glad I am not the only one.

Tiger59 obviously is not an owner of a property that he is trying to unload in the worst RE market in 34 years. Unfortunately all of his neighbors are selling into this market. So although he won't budge, the other 6 homeowners selling on his street will budge. So although you won't sell to those looking for a discount... you will be living next to them in the next 12 months. Good luck Tiger with your probably need it with you new Bronx neighbors.