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Hamptons homebuyers hold off while waiting for lower prices

Global economic turmoil, slumping oil prices and the uncertainty of this year’s presidential election are weighing on luxury-home buyers’ decision-making. office colleagues who argued he should.

The Hamptons is home to celebrities, hedge fund managers, CEOs, socialites, and politicians. Here’s the median asking price of houses for sale there right now.

That is more than 3% lower than last year.. while the majority of product that is not up to that standard is getting left behind.. Hamptons homebuyers hold off while they wait for lower prices

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In Southampton, East Hampton, and Shelter Island, the tax is 2% on the amount over $100,000 on the purchase price of unimproved land, and 2% on the amount over $250,000 on the purchase price of.

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First-time homebuyers hold “Luke” on closing day.. The average new-home sales price was $407,300, while the median was $312,400.. while lower-producing agents only have to pay us when.

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Since 2008, qualified first-time homebuyers in Shelter Island, Southampton, and East Hampton whose household income did not exceeded $126,000 and the price of the home did not exceed $734,000 were.

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Posts about Real Estate Prices written by David Griffith. David Griffith Law.. Savvy potential home buyers who can wait the market out now have a good reason to do so. They don’t have to worry about interest rates rising before the market bottoms.. despite very affordable prices, were 30% off their peak, and home prices fell for the.

Would-be homebuyers in New York’s Hamptons are holding off on purchases as they wait for sellers to bring prices down. Sales in the long island resort towns tumbled 13 percent in the second quarter from a year earlier, according to a report Thursday by appraiser Miller Samuel Inc. and Douglas Elliman Real Estate.