“It’s May, It’s May, the merry month of May.” But like it or not, we’re going to be a bit more serious than usual. In this monthly newsletter we have sincerely tried to keep our focus on “life” here in the Hamptons, but these days we can’t seem to avoid our place in the firmament of Hamptons realtors. For decades, it was almost a joke out here that all anyone wanted to talk about was real estate. Well, it’s not a joke anymore. People from every aspect of our lives are asking us to weigh in on the state of the real estate market. People want to know: “Are these prices sustainable?”, “Where does it go from here?”, “When will prices start to come down?”, etc.
We feel it our responsibility to use this forum to take a stand. PRICES ARE NOT COMING DOWN ….. AND WE THINK THAT’S GOOD NEWS FOR EVERYONE IN THE HAMPTONS. The ridiculous bloating of the market in Florida may indeed prove to be a bubble …… with many people seriously affected when it bursts. But the 20-25% increase in pricing across the Hamptons is a CONSIDERED MARKET CORRECTION. As The Hamptons emerges as a true four-seasons community, every home is simply more valuable to every owner …… and every prospective buyer. Homes out here are no longer peripheral, they are central to people’s lives in ways unimaginable even just a few years ago. This is our new reality, make life decisions accordingly.
The Hamptons will always be the primary playground for the greatest city on earth. And one thing we’re certain of is that New Yorkers are simply not going to start flocking to New Jersey!