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As we first reported over two years ago, on the original Hamptons Real Estate Blog, Robert (Bobby G) Gianos, is in full swing developing Olde Towne on the last large parcel of land in Southampton Village.
Like him, or not; like his project or not, Gianos has focused like a laser beam on this project and has approached in in an undeniable fashion. A great example for all business people to follow.
Hamptons.com released a piece on Olde Towne: check it out!
Building Olde Towne Tree By Tree, Billionaire By Billionaire
By Andrea Aurichio
Ok everybody, here we go again with the MEDIAN price figure.
Raise your hands: How many of you REALLY know what MEDIAN price means and CAN EXPLAIN IT!?!? Median is like a Metric figure to me. Like: “What, you want me to walk two kilometers?” or, “WOW! that was a matter of centimeters!!!” Sorry, it’s pretty meaningless to me…for a definition of “median”,try this
Would it make it any better or worse to know that the AVERAGE price of Hamptons Real Estate is now over $1.6 Million? Impressed? Depressed?
for more info: http://www.suffolkresearch.com/quarterlycharts.htm
Well, there’s two things I believe:
1. SELLING - You can sell you house today for the most its ever been worth.
2. BUYING - If you wait until next year, you will pay more for the house your looking at today.
HERE’S WHAT JONATHAN MILLER (MATRIX) HAS TO SAY about Manhattan.
What’s your view?
Nationally, home sales declined 4.1 percent in 2006 from 2005. But, vacation-home sales rose 4.7 percent in 2006 to a record 1.07 million sales, according to the National Association of Realtors (NAR). The increased interest in buying vacation homes for personal use rather than rental is expected to continue throughout this decade. - National Association of Realtors, June 2007
See what Jonathan Miller has to sat about NAR reports here
As we have said before, due to the lack of comprehensive tracking tools and the reliance on the county recording office, tracking sales here is like using an abacus. Good luck! It can take as long as 6 months before all transfers are recorded…by the time the horse ‘n buggy gets there and back with figures, we’re in another market already.
One way to track closings is revenue reported by the Peconic Bay Community Preservation Fund, which collects a 2% tax for each transaction at the closing table.
According to State Assemblyman Fred Thiele, the five East End towns (Riverhead, Southold, Shelter Island, East Hampton and Southampton) together collected over $53 million for the first 6 months of 2007. That’s compared to $48 million in 2005 and $45 million in 2005.
The CPF also reports the number of transactions as follows:
First 6 months 2007: 4129
First 6 months 2006: 4526
First 6 months 2005: 5133
So, while revenues are up 11% from ‘06 and 17% from ‘05,
the number of transactions are down 9% from ‘06 and nearly 20% from ‘05.
Bigger fish, less of them…md
[tags]Beachamptons, Beach, Michael Daly, Hamptons, hamptons sales figures 2007, Community preservation fund, conservation[/tags]
…that brokerages, here in the Hamptons and the North Fork move into the 21st century.
These tech introductions are still years behind the rest of the country as far as giving true exposure to sellers listings, but that’s been the parochial nature of the East End.
Check out the latest article on the subject by Lauren Elkies
August 2007
Hamptons listings: From Stone Age to E-Age
By Lauren Elkies
Hedge Row: Wall Street Titans Battle Over Beach Path in Hamptons
Topics:Wall Street | Lawsuits | Hedge Funds
Companies:Goldman Sachs Group Inc
Photo by Doug Kuntz
UPDATE: it’s otm (off the market) for the summer md 8-2-7
Susan Brietenbach (see our 3/22/07 post Susan Breitenbach is On Fire) has nabbed another great client, Christie Brinkley, and the listing on her oceanfront home on Flying Point Beach in Water Mill. See the complete story below.
For $8M, 4 bedrooms, 2 baths, a view
BY LAURA MANN
Special to Newsday
