Real Estates by Diane Strecker

The season no longer ends with Labor Day and the East End will remain busy through the holidays as has been trend here now for sometime. Realtors will take advantage of this time when buyers that come out to view properties are less focused on the beach and other summer activities. Those who act now still have a chance of spending the holidays in the country or in a waterfront home in the Hamptons. There are a quite a few exceptional properties on the market right now such as some beautiful oceanfront properties in Amagansett. In fact, in the $11 and $12 million range, one will find multiple listings on the oceanfront. Amagansett, the last stop before Montauk, still offers vast acres of protected rolling dunes and has been known for drawing those who seek a quieter and more secluded locale. Actress Gwyneth Paltrow, who has been shopping with Corcoran since the spring for an East End get-away, has spent $6 million plus on an estate in the little town recently.

On the very high end in Amagansett, estates are listed for as much as $35 million. At this price right now, the ocean beach seclusion you buy is exceptional and backed by acres of reserved land. This 5000 sq ft estate home, designed by Anthony Ingrao, was built of all wood & stone and has seven fireplaces. It sits on 3 oceanfront acres that are tucked inside the dunes, making it ultimately private. It has radiant heating through out, hand hewn beams, stone covered porches and an in ground pool directly off the ocean. It is listed with the Corcoran Group’s Bridgehampton office.

High-end properties are coming onto the market all the time and still moving. Oceanfronts are still in high demand and bring in incredible numbers as was proven in Sagaponack where one just went at $18 million. This 10,000 sq ft oceanfront, featured in the movie Wall Street, is on 2.5 acres, has seven bedrooms, staff quarters for an oceanfront pool. There is 9000 sq ft of decking off its 300 feet of magnificent ocean frontage. A property in East Hampton sold recently and $8.5 million after only a few weeks on the market.

However, if one is looking in the lower range, say under $5 million, prices may be leveling, at least by South Fork standards. Of course, this will not be on the ocean but one can find a nice home, even south of the highway. In this range, there is some new construction as well such as the 7000 sq ft in Scuttlebutt Farms Bridgehampton that borders a 20-acre preserve and farm views on nearly 2 acres. The traditional home is a builder spec home that will include 7 bedrooms, 6 baths, a three-car garage, a pool and a tennis court. It is listed with Sotheby’s International at $4,995,000.

On the North Fork, fall is the busiest time and brings the highest volume of visitor traffic. Realtors on the North Fork have plenty on the market. The hottest time will be from right now through November when things begin slow down. There are many properties for sale currently on the North Fork and prices have come down substantially since the 2004-2005 boom.

In the tiny hamlet of South Jamesport I stopped counting at 15 properties boasting for sale signs. There are a lot of listings in that one small area. Here, one can now find a decent beach cottage below $500,000, whereas two years ago this was simply unheard of. There is also a lot of new construction taking place all along the North Fork where a large number of land parcels were sold in the past few years. We are now seeing the result of those sales. Small developments have popped up all over farm fields. New vineyards and golf courses have also gone up. There are many new restaurants, tasting rooms, shops and farm stands lining both the North Road (Rt. 58), as well as the Main Road (Rt. 25). The rebuilding, renovating and remodeling of old historic sites is also quite evident all along that Fork where buyers have taken old rundown properties in disrepair, and brought them back to life, thus reviving the area. In Greenport, improvement and new business has grown at an incredible rate over the past two years and the town gets more attractive each season. The North Fork has become the more affordable alternative for summering on the East End.

You can reach Diane at eastendrealest@yahoo.com.