With the closing of Corcoran's Hampton Bays Office, Denise Rosko, a Century 21 Agawam Albertson broker/manager, was quoted in a local weekly saying, "I personally see this market turning to open listings for that area."

So we did a poll in the East End real industry asking: For the seller, in this market, would open listings work better than all exclusives?

Property listed with The Corcoran Group.

We got some thoughtful answers, some asking for anonymity, some willing to be named - makes no difference, it's the thinking that counts here. If you have any opinions, do email it in. If you are interested in East End real estate, you will be interested in this. Replies will be published next week.

Veteran Broker/Manager formerly with both Prudential and Corcoran, Michael Daly has launched a new Buyers Brokerage business out of North Haven. Visit beachamptons.com to learn more.

The Real Estate downturn continues on the East End according to George R. Simpson, President of Suffolk Research Service, Inc. Comparative Market Figures for the Years 2004 through 2008, Third Quarter, for the Real Estate Industry of Eastern Long Island reveals the real estate market on the East End of Long Island is down compared with the Third Quarter of 2007. Median prices for single family homes on the East End declined from $717,000 in Third Quarter 2007 to $612,500 in Third Quarter 2008. Dollar sales declined from $1,005 million to $534 million as did unit sales down from 701 units Third Quarter 2007 to 468 units sold Third Quarter 2008. "Home prices had grown dramatically since Third Quarter 2000 when the median price of East End homes was $280,000 to a peak of $825,000 in 2007."

As we have written, residential vacant land which had been holding up, has seen a downturn, says the report, "decrease in median price, a decrease in dollar sales. Median price is down 10 percent to $495,000/parcel of vacant land over Third Quarter 2007. Sales dollars of vacant land dropped to $74 million Third Quarter 2008 from $143 million in Third Quarter 2007. Unit sales of vacant land dropped from 84 parcels in the Third Quarter of 2007 to 64 parcels in the Third Quarter of 2008."

Of the five East End towns, Shelter Island was found to have the most promising market indicators. "Median Price of Single Family Homes - up from $860,000 to $896,000 from Third Quarter 2007 to Third Quarter 2008, but total dollar sales on Shelter Island dropped from $33 million in Third Quarter 2007 to $13 million in 2008 Third Quarter."

Property listed with Prudential Douglas Elliman.

The rest supports a buyers market. It's time to buy folks if that's what you were planning.

"East Hampton Town dollar sales volume dropped 56.5 percent, Median Price dropped 17.5 percent - Third Quarter 2007 to 2008. Southampton Town dollar sales of Single Family Homes dropped 45.7 percent, Median Price dropped 26.8 percent, to $725,000 from Third Quarter 2007 to 2008. Riverhead Single Family home Median Prices decreased by 5.5 percent and dollar sales decreased 19.1 percent Third Quarter 2007 to 2008. Southold Median Prices dropped 12.4 percent and dollar sales dropped 33.6 percent from Third Quarter 2007 to 2008 - 2008 prices show a definite trend down."

From Prudential Douglas Elliman's East Hampton Managing Broker Tom MacNiven, more new agents have moved to that firm. "From Corcoran - Arthur Rauscher, Dick Herbert. From Netseekers - Dawn Neway." Is there something in the water, Tom?

MacNiven also reports, "Those out in Amagansett the past two weekends have been surprised to see polo being played at Oceanview Farm on Montauk Highway just east of the hamlet. Commercial specialists Bob Kohr and Lori MacGarva, along with Amagansett agent Yvonne Velasquez, have sponsored private invitation-only polo matches at the Principi family's Oceanview Farm to highlight a potential use for the 24-acre property."

Adds broker Lori MacGarva, "My associate Bob Kohr and I introduced Polo to Oceanview Farm to present it to prospective buyers as a viable equestrian facility. This has been implemented through private polo matches at the farm. La Lampa Polo Academy and International professional Polo players have played at weekend matches. It has been very exciting and very well received by not only interested parties but also the community."

Yes, well, leave it to Lori MacGarva and Bob Kohr to think out of the box. East End real estate is a very strange business. You have to be thinking all the time! Maybe that's not so strange, just rare, for any of us doing anything.