Planning Boards and the Audacity of Change
New York Times
Too bad the town of Southampton includes more than just the perfect village — it also covers the blue collars of Hampton Bays and the businesses of Water

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FHA changes align appraisal rules

The Federal Housing Administration will tighten credit standards and implement new rules for appraisals on Jan. 1, saying a study to be published in November is expected to show FHA’s capital reserve ratio slipping below mandated minimums.

FHA’s insurance fund is sufficient to cover future losses, Federal Housing Commissioner David H. Stevens said, but the tighter policies will ensure that the loan guarantees remain self-sustaining and continue to be funded by premiums paid by borrowers, not taxpayers. …
Read press release here.

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McMansion for Rent: Sign of the Times
TheStreet.com
In one of the best Hamptons stories of the summer not to stem from a P. Diddy party, the Bridgehampton, NY-based builder

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Worries on Camp Sale
East Hampton Star
Questions have also been raised about the purchase price, which was negotiated before the severe real estate market downturn. Although County Legislator Jay

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Turf Wars: Battling to Cut Water Use

An EPA certification for water-efficient homes would take national a host of local programs that offer rebates, and sometimes set strict rules, on what home owners can plant in their yards.
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Long Island’s North Fork an easygoing wine trip
CNN
She has none of the glitz of her southern peninsular twin, the Hamptons. Celebrities don’t seem to pay her much attention. She faces the quiet Long Island

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