After looking for over two years in the Hamptons it is easy to see why there is little sales movement. Most home owners can weather the financial storm. Yes there are tons of listings, yes the list keeps going up. Houses in the Hamptons just always have a price tag on them. Kind of like a garage sale for the rich, but there is NO negotiating. Most people have their home on the market for sport.... [more]
After looking for over two years in the Hamptons it is easy to see why there is little sales movement. Most home owners can weather the financial storm. Yes there are tons of listings, yes the list keeps going up. Houses in the Hamptons just always have a price tag on them. Kind of like a garage sale for the rich, but there is NO negotiating. Most people have their home on the market for sport. They keep them in "showing condition" at all times, due in part to their use as a summer home. So most homes are on the market at inflated prices, as a "just in case" for the owners. Their mentality is "if you want to pay me the inflated X amount, then I'll take it. If not, not selling". So there is currently a stalemate for many buyers and sellers. But the stalemate is only from the potential buyers perspective. From the owners perspective, they are not really sellers but opportunists. I mean let's face it, no one get to own a home in the Hamptons without having some business sense.
So to those listing inventory numbers, and hoping to get in due to the inflated inventory numbers, know that this is not the standard playing field. This is the Hamptons, where the real estate rules are totally different from the real world. Sure there are some that are in "must sell" positions but not many. The Rich rarely go Poor, they just get a little less Rich.
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Response by eastendagent
almost 16 years ago
Posts: 56
Member since: Jun 2009
GoingDown, just give it time- in this market, no one is completely immune. Time favors buyers right now.
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Response by NYC10013
almost 16 years ago
Posts: 464
Member since: Jan 2007
Also wait until the "financial reform" bill(s) get passed...
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Response by Tiger59
almost 16 years ago
Posts: 51
Member since: Oct 2009
Today's Prudential Douglas Elliman Hamptons market report proffers up a bunch of new real estate numbers from the first quarter of 2010 to chew over%u2014numbers that at first blush make the market almost seem superheated. Median sales prices up 34.6% to $908,500, versus last year's first quarter! Median sales prices for the top 10% of the market up nearly the same, 34.2%, to $5,484,934. And the report clocks 486 sales in the quarter, versus a paltry 201 in the dark days of early 2009. Not bad at all.
Thank god all the rude contrarians "forget" to get in while the getting was
tiger....you are a typical half-wit...or another one trying to mis-inform. you choose.
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Response by NeedAdvice
almost 16 years ago
Posts: 50
Member since: Oct 2009
Anyone who uncritically believes a report from a REALTOR about the state of the real estate market doesn't demonstrate very good business sense or professional skepticism. While the market has surely improved from the abysmal lows it hit last year, that hardly constitutes having missed the boat in buying a home. I have looked at numerous properties in the Hamptons and after a viewing, almost without fail, get repeated follow-up calls from realtors informing me about "how motivated the seller is" and telling me "they are waiting for offers" and "the price is definitely negotiable." This is still far from a seller's market.
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Response by Jerkstore
almost 16 years ago
Posts: 474
Member since: Feb 2007
Wow, a Prudential Douglas Elliman report! Hold me back.
BARF.
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Response by Tiger59
almost 16 years ago
Posts: 51
Member since: Oct 2009
Rodickno, you're predictable loser with nothing better to do than to reply to a random post that doesn't conform to your pathetic agenda.
Take away the "ro" and the "no" from your name, and you're just another limp dick. I'd rather be a Tiger!
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Response by sunclaus1
almost 16 years ago
Posts: 139
Member since: Jul 2009
Tiger59 is a DISCREDITED loser who if you have been listening to his posts has been consistently wrong and has LOST substantial ASSets.. CHOPS WILL COME in 2010 BE patient needadvice
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Response by cmtsuk
almost 16 years ago
Posts: 100
Member since: Nov 2006
As somebody who has looked at 20 or so properties in the Hamptons in the 0.8 - 1.25 mm range, I can tell you that many of the listings I have seen had significant room for negotiation. Of course, it does depend on whther the asking price is realistic to begin with - those that have properly priced their properties by taking account of where recent comparable sales have CLOSED (rather than where competing properties are LISTED) - have less wiggle room than others.
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Response by streetsmart2499
almost 16 years ago
Posts: 22
Member since: Oct 2009
Sunclaus is an old fart who never bought, and thus has no assets to lose. By the way, Mr. Fat White-Bearded pederast, why don't you do a little bit of research before making a fool of yourself? Aren't there any little gay elves where you hang your pointy red hat? And what's with the overuse of capital letters? Do you honestly think that helps to make any points? Why don't you start a site for fat pederast losers so you can keep preaching to the converted?
GoingDown, just give it time- in this market, no one is completely immune. Time favors buyers right now.
Also wait until the "financial reform" bill(s) get passed...
Today's Prudential Douglas Elliman Hamptons market report proffers up a bunch of new real estate numbers from the first quarter of 2010 to chew over%u2014numbers that at first blush make the market almost seem superheated. Median sales prices up 34.6% to $908,500, versus last year's first quarter! Median sales prices for the top 10% of the market up nearly the same, 34.2%, to $5,484,934. And the report clocks 486 sales in the quarter, versus a paltry 201 in the dark days of early 2009. Not bad at all.
Thank god all the rude contrarians "forget" to get in while the getting was
http://hamptons.curbed.com/archives/2010/04/23/why_hamptons_housing_prices_are_still_flat_as_a_sand_dollar.php
It's important to view the whole picture.
tiger....you are a typical half-wit...or another one trying to mis-inform. you choose.
Anyone who uncritically believes a report from a REALTOR about the state of the real estate market doesn't demonstrate very good business sense or professional skepticism. While the market has surely improved from the abysmal lows it hit last year, that hardly constitutes having missed the boat in buying a home. I have looked at numerous properties in the Hamptons and after a viewing, almost without fail, get repeated follow-up calls from realtors informing me about "how motivated the seller is" and telling me "they are waiting for offers" and "the price is definitely negotiable." This is still far from a seller's market.
Wow, a Prudential Douglas Elliman report! Hold me back.
BARF.
Rodickno, you're predictable loser with nothing better to do than to reply to a random post that doesn't conform to your pathetic agenda.
Take away the "ro" and the "no" from your name, and you're just another limp dick. I'd rather be a Tiger!
Tiger59 is a DISCREDITED loser who if you have been listening to his posts has been consistently wrong and has LOST substantial ASSets.. CHOPS WILL COME in 2010 BE patient needadvice
As somebody who has looked at 20 or so properties in the Hamptons in the 0.8 - 1.25 mm range, I can tell you that many of the listings I have seen had significant room for negotiation. Of course, it does depend on whther the asking price is realistic to begin with - those that have properly priced their properties by taking account of where recent comparable sales have CLOSED (rather than where competing properties are LISTED) - have less wiggle room than others.
Sunclaus is an old fart who never bought, and thus has no assets to lose. By the way, Mr. Fat White-Bearded pederast, why don't you do a little bit of research before making a fool of yourself? Aren't there any little gay elves where you hang your pointy red hat? And what's with the overuse of capital letters? Do you honestly think that helps to make any points? Why don't you start a site for fat pederast losers so you can keep preaching to the converted?