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newsday subprime mapThere’s all sorts of nifty new fact and figures coming out about sub-prime.  Here’s a map from Newsday showing the percentage of mortgages for 2006 that were sub-prime loans.

Presumably, that will give an indication as to how many foreclosures might be in these community’s future?  Looks like the East End has a much lower overall percentage than our sister markets to the west.  see map here

oNE MILLION dOLLAR BILL

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?  

SHEH3rdQtr2007

for more info: http://www.suffolkresearch.com/quarterlycharts.htm

East Hampton Village For Rent 2007As we’ve noticed the number of empty storefronts in East Hampton Village continues to grow.

I’ve been looking for a location in East Hampton for our next Beach Properties office and the asking rents have gotten up to Madison Avenue rates. $10,000 per month, triple net for a 1200 sqft raw space that needs $150,000 worth of improvements to make it acceptable as a real estate office is a bit much!

 That being said, I suppose the market dictates the lease rates and it’s up to us to be creative about our location choices. 

 The East Hampton Star has more

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