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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
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
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