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CPF figures show slight rebound
Jennifer L. Henn
For the second month in a row, the Peconic Bay Community Preservation Fund has posted an encouraging amount of revenue—$3.7 million for the month of July—according to a press release issued Monday by State Assemblyman Fred W. Thiele Jr.
That number is just short of June’s total, $3.84 million, which was the highest single-month total of the previous eight months.
see story here
The New Hamptons: Cheaper Real Estate, Younger Girlfriends, And …
The Business Insider – New York,NY,USA
Vanity Fair has nice long piece on post-financial crisis Hamptons, and he main is basically: Yes, it’s exactly how you imagine it is. …
While many forms of life can survive without oxygen, none can survive without water. And as hard as we try, with all of our intellect… continue
By John Rega and Christine Harper
In a previous post, we stated that East End dollar volume of sales was down 80% from the peak in 2007. The following CPF revenues supports that. 2009 revenues are down 82.5% from 2007.
That’s not being a ‘bear’ or negative about the market…that’s reporting facts. I’m a long-term bull on Hamptons real estate. I still believe that a long-term investment in a property on the East End of Long Island will provide years of enjoyment in one of the most beautiful places on earth as well as a good monetary return on the investment.
That being said, facts are facts, and putting your head in the sand doesn’t make it any better. There are some terrific deals in this market. If you are a buyer, find an agent who can tap into them. If you’re an agent, drill down into each listing, understanding the motivation of the sellers and find out who’s a ‘real seller’ and who’s a poser. If you’re a seller, wake up and smell the coffee. For the most part, properties that ARE selling today, are selling for an average of 35% below 2006-7 values. If you’re not willing to sell at that level, then think again about listing your home. Sure, there will be some exceptions to this…if you have one, let me know.
As of April, East Hampton’s CPF has taken in $1,668,534, compared to the $5,631,267 accumulated by the same time last year and $9,538,793 in receipts recorded by April 2007, the highest grossing year since the two percent tax was instated in 1999. Most were expecting a bad year for the fund, though the first four months of 2009 have been particularly discouraging, declining 67.6 percent throughout the South Fork over the same period in 2008 (2008 revenues were 41.1 percent below 2007).
see story here
It’s sad, sometimes that there is so much to divide us, especially in places like The Hamptons, where all to often we are classified as either a city person or a local, a native or a week-ender, part of the service class or a member of the elite.
Visitors come here and use it as their playground, often disrespecting nature and private property, looking down their noses at anyone driving an American car.
Those who were born and raised here often blame “the citiots” for “ruining this place”, making it a place where their children can’t afford to live.
Fact is, the East End of Long Island is one of the most beautiful places on earth and, it’s because of people like Patricia Topping…
“Topping worked long and hard to devise a plan that would allow her to keep the farm and preserve open space without selling the development rights and stripping the land of its full potential value as prime residential real estate. In the highly prized Hampton’s home market an acre of land south of the highway is worth upwards of $2 million. The pressure to sell to developers or retain the right to sell in the future without losing the last precious remaining open spaces is never far from the mind of any farmer or large landowner on the South Fork.”
In recent years, many agents learned that the more you work, the better you earn. Those wewre they years when doing business was like being a bear in the middle of a stream during the salmon run. As long as you were there, on a good rock, you could eat to your hearts content.
Today, with business slower, the ‘big bears’ are still nibbling, but many others are ‘shrieking and freaking’ about having nothing to do.
Why not take that free time and put it to good use, helping others? There are many non-profit organizations, here on the East End that could use our help; civic, church, childrens, family, environmental and animal related.
And doing good feels good! Let’s be grateful for what we have and ‘pass it on’.
For a list of East End Non-Profit organizations, click here.
This post was inspired by a Selsius Blog post: NAR Must Add Pro Bono Provision to Realtor Code of Ethics
Thanks for the inspiration, Joe!
What a great story and EXACTLY what the people want to see public preservation funds used for.
Very often, we don’t know what land/property is available for development until after it is too late and the developer brings down the bulldozer. Cheers to the parties that made this deal happen!! See story below.
Posted on 11 September 2008 – Katnryn Menu, The Sag Harbor Express
“More than a decade ago, chef Alice Waters founded the Edible Schoolyard in Berkeley, California sparking a national culinary movement to bring the production of food back in time from the fast, cheap and processed fare of the 1980s and ‘90s to organic methods of cultivation almost abandoned in the fast food age, resulting in healthier foods higher in protein and vitamins.
And now Judiann Carmack-Fayyaz wants to execute the same concept in Bridgehampton.
During a Bridgehampton Union Free School District Board of Education meeting on Monday, September 8, Carmack-Fayyaz presented to the board the concept of creating an Edible Schoolyard at Bridgehampton as a way to further the landscape and environmental design course she leads at the school.
The class would seek to create a garden at the school using the principles of organic and sustainable farming, which Carmack-Fayyaz noted could involve a number of educational disciplines in its execution. She envisions the garden — which she said could be similar to programs developed at the Hayground School and at Sag Harbor Elementary School — ultimately being used by the whole school to promote healthy eating habits and possibly even supply the school’s meal program with fresh fruits and vegetables.
The garden would be designed by the landscape design class with a kitchen garden and greenhouse planned behind the administration and middle school buildings at Bridgehampton, according to a handout provided by Carmack-Fayyaz. At this point, she was simply seeking board approval to move forward with the concept, so students can begin drawing up plans for the project and fundraising. She said it will be the landscape and environmental design class’s main project of the school year.
“Can you grow some herbs for our café,” asked school board vice president Elizabeth Kotz.
The board said they were indeed interested in the idea. “
By Aaron Boyd
Best News! Southampton Town Board voted unanimously last night on a resolution to accept terms with LIPA that results in the burial of 100% of the cables on the powerline route on the back roads.
The terms call for a LIPA surcharge based upon consumption — for the East End of the Town, only (excluding Shinnecock, Tuckahoe, and the Shinnecock Reseration). The surcharge will amount to $3.70 per month for the average electric consumer, i.e., bigger houses will pay more than average, and smaller houses less.
At later date, yet to be set, we must go to LIPA headquarters to impress upon LIPA’s Trustees that we expect them to also ratify this agreement. Again, on that day, CGSF will arrange for chartered Jitneys (free to supporters who come, including lunch aboard the return trip).
In the event that LIPA’s Trustees do not ratify the agreement – the Town’s resolution also calls for establishing a Special Tax Assessment District to support payment for the undergrounding. The boundaries of the STAD are yet to be set, but will include Water Mill, part of Bridgehampton, and perhaps, depending upon their agreement, the Villages of , , , and Sagaponack.
Please take the time to send “Thank You” emails to the Southampton Town Board for their good work to preserve and protect our scenic vistas and hurricane escape route. This was a long and hard negotiation for them. Here are their email addresses:
Supervisor Linda Kabot:
Councilman Chris Nuzzi:
Councilwoman Anna Throne-Holst:
Councilwoman Nancy Groboski:
Councilman Dan Russo:
We owe a special debt of gratitude to Assemblyman Fred Thiele, who persisted in bringing both sides to this agreement. Without Assemblyman Thiele’s involvement this deal would never have happened. Please tell Assemblyman Thiele you are grateful: thielef@ assembly.state.ny.us
Steve Abramson, Chair
Committee for a Green