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Market Musings: It's All 'Discretionary' in the Hamptons

Watch Corcoran CEO Pamela Liebman talk about the state of the Hamptons in this clip from her weekly interview series, The Scoop. Though few revelations are made by Liebman, she does talk about the 'discretionary' buyers and sellers of the East End, a group that approaches the market with all the time in the world, much to their brokers' frustration. With the downturn, aggressive buyers have been offering up to 50% off asking prices to no avail, as the majority of sellers are not willing to give up much. When asked about the under $1 million market, Liebman noted that if being near the ocean wasn't a priority, north of the highway homes were the way to go for a sizable house and a Hamptons address. If you're looking for a beach in the backyard, be prepared to spend.
· Corcoran: How are the Hamptons Doing These Days? [YouTube]