real estate in the hamptons
Going out to the Hamptons in January can be a tad depressing. Super nice to chill and relax but the place is empty. Restaurants are closed for the season. You get to see which stores made it through the summer to last another year and the others that have shut their doors. It happens every year. Not easy to make money in a seasonal town although there is a blossoming community out here most of them are not shopping at the high end stores on Newtown Lane.
This year, more than most, you can't help but wonder about the real estate market. So many of the homes out here are second homes. No doubt that every year there are homes for sale. That happens everywhere but this year I know for sure that more homes are on the market. The streets are littered with signs.
Josh, who has been coming out for years never notices the sale signs. Yesterday as we were driving out and had made our way past East Hampton, he piped up. "Who is Corcoran and why are there signs in everyone's yard"? We told him that Corcoran was a company that sells peoples homes. His next response was, "wow, they must be doing great because they are everywhere.". Not sure how great they are doing but that gives you an indication of what is happening out east.
Not a lot of construction just a lot of for sale signs.
Actually, it’s exceeding peaceful and pleasant here in the Hamptons in January, snow or no snow! I’ve got my friends, my gym routine, and saw a dozen wild turkeys in my backyard today. The restaurants that are open all have long happy hours and prix fixe menus. And the real estate market is not doing badly, apparently (see below), though more at the low end. The area was overbuilt and overdeveloped in the last 20 years, and now it’s time for a course correction.http://hamptons.curbed.com/…
Absolutely time for a course correction. We saw a bunch of wild turkeystoo. My guess is that if I was out there for a long period of time, I’d getinto the groove too. In all honesty, it takes me at least a week to chilleven in July.