DAN'S PAPERS, February 13, 2009 Page 30 www.danshamptons.com
North Fork Real Estate By T.J. Clemente It’s all going to happen first on the North Fork. In the last year I have written over 30 articles on real estate on the East End of Long Island. I have interviewed founders of leading national mortgage companies, real estate companies, builders, and public officials. I have had to go over quarterly published results on home sales and based on these experiences I have a very good prediction for the North Fork for 2009. Recovery is going to start on the North Fork. With medium prices in the $500,000 range, the North Fork will be the first choice of soon to retire baby boomers who due to down sized savings will go
for value for their retirement home. Everyone has always said that the North Fork is in fact a very beautiful, natural undisturbed part of Long Island that still has the charm of small town America along with the values of a smart investment. Access to great beaches, marinas, shopping, restaurants, farm markets, safe roads and true natural beauty. A beautiful historic home with acreage, perhaps near a vineyard sounds about right. Buyers will not be speculators but retirees who want a wonderful bang for their buck but also a very high tranquil style of life. Another allure will be new families who are look-
ing to get into their homes and utilize the lovely school systems the North Fork offers and the wonderful outdoor activity. On top of all of that is a wonderful community of people who care about each other and look out for each other. Not to mention safety, town on the North Fork offer a great play space for kids. The allure that Southold had in the 1940s-1950s is still there and is being rediscovered. The historic aspects of Jamestown, Mattituck, Marion, Greenport and Orient have a priceless charm that for years have stood out in tranquility second to none on Long Island. As my one friend put it, “The North Fork is stunning, absolutely stunning. What is so special about it is how quiet it can be there when you want it to be quiet and how lively and wonderful it can be when you want that as well. The vineyards make you feel like you are in California and the beach access and wonderful people remind you that you are on the East End of Long Island.” For years Greenport’s artist community has been the focus of many articles talking about its excitement and growth. A walk up and down the historic streets of Greenport bears out this point. Shops are energized and the mood and climate is upbeat. The North Fork is where prices have not eroded because perhaps those who bought there bought for the long haul and are happy there. In a recent article on Montauk’s lack of substantial fall in medium price, falling less than 10%, way below the national and local level, the quote often heard was, “I like living here (Montauk) I will sell if I get the right price if I don’t I can live here for a long time.” The North Fork seems to have the same sort of loyalty.
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