Is real estate quietly making a comeback with the stock maket? That would be very nice indeed. Bloomberg.com is reporting that Hamptons homes rose 4.7 percent in the third quarter amid a surge in sales of properties from $2 million to $5 million.
Looks like the sideline buyers are coming out onto the field. Will this continue is the big question that everybody wants to know.
Historically, you can’t go wrong with buying Hamptons real estate.
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Interested in purchasing a Bio-Safety Level 3 island from the government? Then Plum Island may be just what you are looking for!
Homeland Security spokesperson John Verrico said that Plum Island, well known for studying diseased animals and being the subject of the thriller novel, “Plum Island”, said that the island is going to be shut down and the US government is going to sell it to the highest bidder.
Yes, it’s true, you could be the next Gardiner family with a island attached to you name! But wait there’s more. The property offers wonderful views of Gardiner’s Bay and the Long Island Sound, is just a hop and a skip away from Orient Point, probably is safe from not getting any diseases because you can count on government workers when it comes to anything, and you can be the weird guy in town who thought it would be cool to live on a former animal disease center.
Proceeds from the sale of Plum Island will go towards the construction the new Bio Safety Level 4 facility in Kansas. Ever see the movie “Outbreak” or read about Ebola? That’s the level 4 stuff.
Call your realtor today.
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It’s not all bad news in Real Estate. Investment banker Peter J. Solomon is in contract to buy the East Hampton estate of Mary Howard de Liagre. (Movie star.) The house is 3,500-square-feet and on the water.
The deal is going to set Solomon back $22.5 million, which is what the estate was priced at, and these days, few are willing to the asking price.
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Uh oh. Have a look at this interesting real estate article from bloomber.com.
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Oh my God, oh my God, oh my God! Yes, it is true, The Jonas Brothers are seriously looking to rent in the Hamptons this summer. And oh my God! Yes it is true that I’m serious blogging about it. In related news all of the tweens in the city and the East End just had a heart attack. The epic Disney Band whose power in the music world is undeniable, want to hit the beach this summer. They are checking out homes to rent in the $50 million range.
Let the real estate agent battle begin!
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Here are some numbers that aren’t making too many in the Hamptons very happy. The East End, known for its real estate power, has taken some ugly licks because of the economy. Suffolk Research Service Inc., has produced the following numbers.
Compared to 2007, 2008 saw a drop of 31 percent in home sales for the East End.
There has been a 40 percent drop in sales in East Hampton compared to 2007. Dollars spent was down 46 percent.
Southampton saw a 33 percent drop in sales of single family homes.
Sale prices in Southampton on average dropped 13.5 percent and in East Hampton 9.5 percent.
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Is it odd to you that New York City does what it can to use a Hamptons-esque names on countless buildings and businesses but all we have on Main Street in East Hampton these days are 5th Avenue retailers?
NEW YORK (June 3, 2008) - More than 250 people attended The Ascend Group LLC’s invitation-only exclusive grand opening party for Georgica, a new sophisticated and modern residential tower at 305 East 85th St., near the northeast corner of Second Avenue.
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It will be nice to see him out and about in the Hamptons. Michael J. Fox has reportedly paid $6.3 million for a house in Quogue. How psyched are you?
From Newsday
Actor Michael J. Fox has paid $6.3 million for a newly-built 7,000-square-foot Gambrel shingle-style, traditional home in Quogue. The asking price had been $7.25 million for the six-bedroom spread on Quogue Street.
The four-time Emmy winner’s new digs sits on 1.11 acres and includes seven fireplaces, a 17-by-11-foot wine cellar, a 250-square-foot guest cottage, and Gunite pool with spa.
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Water damage these days can be rough in a Hamptons homes. The picture here came to us from Tim over at Telemark Inc. in Bridgehampton. After a spec house was built two years ago without pipe insulation in an exterior wall, the cold temperatures caused a stop valve to burst sending water flying through the home causing $200,000 worth of damage. Art, furniture and personal items were also destroyed. With the cold weather, it’s a good idea to keep your home watched by an estate manager so that things like this can be avoided. For buyers of new homes, be sure to be extra careful with spec houses where you can’t see behind the walls, otherwise you might be calling Tim.
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Now here is a pretty good measurement of how strong the wind was last night. Over in Sagaponack, this tree snapped completely in two on Ocean Road, coming within inches from the house. Verizon was down there taking care of the phone lines that were damaged. None of us here thought it was going to get as windy as it did last night. Looks like somebody is gonna have a lot of firewood. They might want to get Marders on the line and have a new one planted.
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