Hamptons Real Estate Sales and Prices are Up

The real estate market in the Hamptons, in New York is doing well. The Hamptons, where the rich and famous spend their summers is recovering from the real estate crisis. The closing rate in the Hamptons rose more than 10% in the third quarter of the year. Where there has been a continued slump in other real estate markets, the Hamptons is recovering.

The medium home price for a house in the Hamptons is up more than 20%. The average house in the Hamptons can sell for nearly one million dollars. The market for luxury homes for five millions dollars or more in the Hamptons has recovered at an even faster rate than the rest of the market in the Hamptons. During the third quarter of last year, there were more than 50 sales of homes for more than 5 million dollars in the Hamptons on Long Island.

Hamptons Real Estate Tied to Wall Street Earnings

It is said that when Wall Street does well, the real estate market in the Hamptons jumps. It seems that buyers in the Hamptons have greater confidence that the real estate market in this area of New York will continue to do well.

While protestors spend freezing nights in Zuccotti Park in Manhattan protesting the unequality over financial markets controlled by Wall Street, financial institutions, and banks, the residents of the Hamptons in New York State (who are generally in that top 1% of the American economy), find that real estate is recovering in their favorite vacation area. Whoop-de-do!

Foreclosure Opportunities

If your house is in foreclosure, I can help you. I have been representing individuals with foreclosure related problems for more than 20 years. The lawyers at my law office aggressively represent individuals and families whose homes are foreclosed upon and keep them in their homes. We appear at foreclosure court conferences for our clients. We also litigate foreclosure lawsuits by submitting detailed Answers to Summons and Complaints with defenses such as defective foreclosure lawsuits, defective mortgages, predatory lending, and numerous other real estate related defenses.

In some situations, foreclosure related bankruptcies are the most ideal way to handle foreclosure problems. In these cases we can file either Chapter 7 or Chapter 13 bankruptcies on behalf of our clients. Filing a bankruptcy not only stops foreclosures from moving forward but it can eliminate credit card debts and other financial obligations. At the end of the bankruptcy we can help educate our clients as to re-establishing their credit.

Call us for a free consultation. At our initial meeting we will discuss all of your foreclosure options and explain how we can keep you in your home!

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