getting the transfers to the county seat

 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]

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