I use to write a column out east called "Estate of Mind" on real estate, Lol, mostly during the darkest days of the real estate free fall. Every week I was assigned to take some raw data and find some positive news. I would interview the leaders of the real estate industry in the Hamptons who would say over and over this is the time to buy. It was tough to write, but I did get paid to do my job. Now that I live in East Patchogue I ride my yellow road bike around and I am smiling because I see an old sign reappearing on every block. It reads, "SOLD." Yes homes are selling, so one must ask why? Here are my ideas.
1- They are priced to be sold, meaning not too many are putting down Hamptons prices for Patchogue homes anymore.
2- The area seems to be attracting a new younger community of buyers who can afford to live here all year round, unlike out east where that's just not the case.
3- There is a new diversified ethnic dynamic at work, meaning a new hard working, money earning class is evolving who work and now live in the surrounding area.
4- Lastly... the beauty of the area, with it's parks, access to the Great South Bay and Fire island's beaches as well as, quaint streets and a vibrant downdown, which is a result of 1-3 above. Now I am not in real estate nor is my wife, children or as far as I know neighbors so this is what I truly believe. Comment if you agree or disagree!
