Montauk Pioneer - October 9, 2009- Montauk Real Estate

Agents At The Montauk Corcoran Office
Tell The Pioneer What The Fall Is Looking Like

One of the most commanding presences in real estate on the East End of Long Island is Corcoran Real Estate. The Corcoran office in Montauk, located right on Main Street, has been abuzz with real estate news this Fall, and the news is very positive, especilly compared to last Fall. Contracts are being signed and deals are on the table.

With last year being one of the worst real estate climates in decades, patient buyers have been waiting cautiously on the sidelines, but those same sideline players now are making realistic offers while at the same time sellers are giving realistic prices. Joan Hegner, an agent at Corcoran, was able to sell Bernie Madoff's former home in Montauk above the asking price, exceeding $8.75 million in a matter of weeks. I asked the top agents in the Corcoran office what their thoughts were on real estate in Montauk right now. Corcoran Real agent Marc Raboy said, "It's definitely picking up. Our office is doing sales again on a fairly regular basis, which gives me a prediction that this Spring and Summer strong sales will continue for Montauk. Montauk is its own thing. We are nothing like East Hampton, we are nothing like Sag Harbor. It is the least pretentious of the Hamptons and is also the most naturally beautiful. That's why people travel the extra eighteen mintues to get here."

Agent Janet Weimar of Corcoran said, "A lot of things are going on in terms of sales which is exciting. A lot of people that have been looking around for a long time are starting to buy. There are some people that are still a little nervous, wondering if this is the bottom, but people are coming around. I don't know if this is the turnaround. I wish I had a crystal ball and could tell you, but I can say with certainty that more things are happening recently than I've seen in a long time."

Helen Stubbmann, an agent at Corcoran said, "One of the biggest things about Montauk is that sixty percent of it is preserved land. If you want to invest in a place, Montauk is smart because of that. That one simple fact stabalizes the value of the remaining forty percent. The people that I've been working with really want to move on something this Fall. It seems that this is a real serious buyers time which is a very good thing."

Husband and wife team Ray and Joan Hegner of Corcoran said, "I definitely see a trend to a better market place. As we all know, last year was a sleeping time for real estate. But since late Spring this year, personally Raymond and I have seen a tremendous uptick, with more than ten sales this summer. Our office is busier and the prices are adjusting as the buyers can negotiate more because the sellers are negotiating. The higher end, as of right now, seems to be very active."

Gina Decker of Corcoran said, "Yes sales have picked up which is a good sign. Montauk has been able to gain the interest of a lot more buyers this year as more people get how relaxing and beautiful it is."

Gerri Tomitz, Associate Broker at Corcoran said, "It's certainly not like it used to be (haha) because of the recession, but things have turned around compared to last year which is a good sign going forward. Hopefully it will continue."

Chris Coleman at Corcoran said, "Last year everything was frozen. Not just in real estate but the whole economy. Things were all over the place. There was no lending going on and when there is no lending you have a clog in the economy. In terms of now we have a little flurry of activity as the economy has gotten more stable."

Connie Tighe at Corcoran said, "The recent activity is positive. There are people that have been looking for a while and they are starting to see prices getting realistic."