February 27th, 2009 update:
During the month of February, Long Island Real Estate Report showed 3 foreclosures taking place on the East End – Hamptons and North Fork – and many more lis pendens. Feb 09 total volume sales were down 66% from 2008.
May 13, 2008 UPDATE:
For all of you looking for blood, yes foreclosures are up in the Hamptons. ALL THE WAY to EIGHT FOR THE FIRST QUARTER. WOW, JUICY HUH?!?!? And yes, there are more people behind in their mortgage payments than there were a year ago, and THAT’S WHAT HAPPENS IN A SOFT ECONOMY!!!.
I think it’s sad that the media print the names of those in financial distress.
The recent past has not resulted in a great many foreclosures in the combined townships of Southampton and East Hampton.
Here’s a look at the total foreclosures, on a quarterly basis since 2002, which I compiled, based upon information from Long Island Profiles –LIProfiles.com
The trend shows foreclosure activity going down in recent years. We’ll look again in a few months. md
[tags]Hamptons, hamptons foreclosures, mortgages, subprime, hamptons real estate[/tags]