The “S” Word.
Short Sales. A phenomenon so rare on the East End, up until now, that you could identify each one. The Hampton and the North Fork may have been one of the last hold-outs, but in the past few months the amount of short sales on both the north and south fork have been mounting due to job loss, shrinking pay checks, poorly structured mortgage loans and more.
While we are somewhat insulated to the market swings that occur in other parts of the country, thee is a direct connection to Wall Street form our main Streets and therein lies some of the problem.
The Federal Government is taking unprecedented measures to stabilize housing and curtail the wave of foreclosures on the horizon because we have come to find much of our overall economy is intertwined in the American dream – homeownership.
Capitol Hill has identified a need to stabilize the housing market first in order to begin the recovery process. To that end, Town & Country has collaborated with local Real Estate Attorney Robin Lang, who specializes in short sales, Mortgage Broker Victoria Hohman from Manhattan Mortgage Company, and our own Elizabeth (Miss) Capozzoli, Licensed Real Estate Broker and Certified Short Sales Specialist to offer a series of free educational seminars specifically on Short Sales
Wednesday, January 14, 2009 from 7-8:30 pm at the Hampton Bays Library, 52 Ponquogue Ave
LEGAL – Robin Long, Esq or Fier & Long PC Attorney, 631-585-4344
REAL ESTATE – Elizabeth Missy Capozzoli from Town & Country Real Estate, 631-288-3030
MORTGAGE- Victoria Hohman from Manhattan Mortgage Broker, 631-324-1555