You really need to look at the current market conditions as of August 18,2009.Most of these responses are over a year old.There are properties selling in all price ranges right now.
Yes,the inventory is high,but there are buyers looking,and making offers,which are leading to closings.Personally,I am experiencing my best year since I am licensed as a Realtor.Just closed on a Gin Lane property at the end of July,and I had a back-up deal on the table for another buyer who really wanted the same property.When you work smarter and harder,deals happen.Within the last month,buyers are finally coming out in huge numbers,and they are making offers that are being accepted.
Homes that are priced correctly are selling,the unrealistic sellers need to realize that it is 2009,not 2004,they must be willing to negotiate.The internet activity is the highest it has ever been,plus buyers are actually coming to the Hampton's from behind their computers.You need to keep your eye on the ball ! It's bouncing in our direction, every single day.... - Tue Aug 18 2009, 19:48
The high end homes on the South Fork are holding their own right now.I have a couple of deals in contract that are within 5%-7% below original asking prices.I also have a deal in contract in Southold that is also within the same percentage of asking price.I really think that the market conditions are very challenging at this time,and I do not expect them to change very much in the near future.This wiil have the "Cream of the Crop"people rising to the top,while others will fall by the wayside.Good Luck to all! - Sun Mar 16 2008, 07:43