Hamptons Real Estate
Hamptons real estate is one of the most popular real estate markets in the country. Located on the beautiful East End of Long Island, the Hamptons is home to actors, singers, fortune 500 CEO's, oil tycoons, as well as regular everyday locals. The Hamptons real estate market is incredibly diverse, ranging from small single family homes and apartments to incredible 60-acre waterfront estates. During peak season in the summer and early fall, the Hamptons becomes a bustling yet laid back beach resort without the tacky trappings of hotels, cheap souvenier shops, and endless breakfast eateries. It's a summer resort with taste and style, making it one of the premiere getaway spots in the world. There is a strong market for rentals as well as sales. The rental market is strongest for the summer, but winter rentals are becoming more popular as the Hamptons slowly changes from a summer beach resort to a more year-round country getaway. The bulk of the more high-end real estate sales are for second "vacation" homes. The overall real estate market in the Hamptons has not even seen its potential, according to a Hamptons.com article quote from Gary DePersia: "You may see a pull back in the market in general, but in the Hamptons we have not seen our potential yet. We're not so much a beach getaway anymore but a country getaway. While properties reach their value due to the sale of other like kind property there is a finite amount of property out here and prices are determined by supply and demand. And there's more discretionary income today then ever before." Real Estate in the hamptons has been booming in the past decade due to the publicity of several famous hamptons locals such as Jerry Seinfeld, Steven Spielberg, Billy Joel, and more. The 631 area code on the East End is fast becoming a status symbol among the power set. What makes the Hamptons so unique and special? It partly has to do with its location. Eastern Long Island is home to several of the most beautiful beaches in the country. In fact, two Hamptons beaches (Coopers Beach in Southampton and Main Beach in East Hampton) are ranked in the top ten of all United States beaches in a nationwide survey. The Hamptons is also a short two hour drive (or half hour helicopter ride) from New York City. This allows businessmen and women a chance to get away from the hectic urban sprawl and relax in the beautiful countryside, indulge in a stroll on the beach, or take in the star studded nightlife.
DID YOU KNOW
Wealty Oil Tycoon Ira Rennert's Sagaponack spread is one of the largest private residences in the country? Steven Spielberg purchased not only a multi-million dollar estate on Georgica Pond in East Hampton, but also purchased the lot across the pond so he could control the view!