SOUTHAMPTON, LI REAL ESTATE – Hamptons real estate is sizzling hot as it readies for the prime summer season. A number of factors are at play: interest rates are still historically low – one buyer got a 15 yr fixed at 2.8% in Jan., in a rising market buying at today’s prices will beat prices tomorrow and buyers feel better and more confident about jumping in again after some rough years. For the past four years, time has been on the buyer’s side – one could look and look, kick tires and make low ball offers as prices dropped and inventory swelled…now waiting is a costly exercise as prices trend up and property choices thin with tighter inventory.
By Robin Finn, March 22, 2012 NYT

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Oceanfront Southampton properties are going for $400,000 – $800,000 for the summer 2013.