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**Thanks to Jonathan Miller for bringing this to the HREB’s attention.


“We were actually shocked they did this,” says Scott Simon, who as the head of the giant bond fund PIMCO’s mortgage-backed securities team is one of the world’s biggest mortgage bond traders. “It seemed so out of line with their mission.”

The trades “put them squarely against the homeowner,” he says.

Freddie Mac Bets Against American Homeowners

by Jesse Eisinger, ProPublica and Chris Arnold, NPR News Jan. 30, 2012, 5 a.m.


$72 Million In The Hamptons, Estate of the Day
Luxist (blog)
Newsday’s Real LI column reveals that one 2.7-acre parcel has a five-bedroom house with a pool and 432 feet of frontage on Wainscott Pond with views of the


Hard times hit high-end hospitality in the Hamptons
New York Post
By JENNIFER GOULD KEIL Hamptons Resorts & Hotels, which operates the Atlantic, the Bentley and the Capri, filed on Thursday, David Waksman, a co-owner of


Northeast towns prep for possible oil impact
Folks in the Hamptons, where two local beaches were rated among the Top 5 in the country, gathered Thursday to discuss contingencies for their communities.


Hamptons Market’s Comeback
Home prices rise as demand picks up. Mia Saini.


Developer pitches casino in Calverton industrial park

Last Updated Jun 10, 10 4:41 PM19 comments

A private developer suggested that the Shinnecock Indian Nation build its proposed casino at the Enterprise Park at Calverton during a meeting of the Suffolk County Gaming Task Force on Thursday.


Local builder is recognized by NAHB

Publication: The East Hampton Press & The Southampton Press
Jun 7, 10 11:10 AM

The National Association of Home Builders recently named John Barrows of Wainscott-based J. Barrows, Inc., as its “Green Building Individual Advocate of the Year.”… continue

Southampton Town Is Squaring Off With Suffolk County Over East Hampton Jetties
“The decision by the Second Circuit will impact the public beaches, the real estate industry, as well as public policy for future generations.


Smith & Wollensky in Steak-for-Stock Deal
the local economy could be catastrophic, leaving large tracts of land in the Hamptons and Martha’s Vineyard undeveloped, legions of real estate brokers,


Billionaire businessman buys Sagaponack estate for $14 million (Not just ANY Billionaire, but Real Estate Maven Henry Silverman)
Newsday (subscription) (press release)
Real estate sources say that Silverman rented designer Joanne Corzine’s Sagaponack house last summer for a record-breaking $900000 and that Corcoran’s


Picking Over the Bubble Decade
East Hampton Star
By Kate Maier (02/04/2010) Real estate agencies that operate on the East End have begun to release long-term market reports that put the recession-induced


‘;Now Is the Time’
East Hampton Star
What should have amounted to a straightforward, win-win real estate transaction for all parties involved unfortunately has been met with repeated delays.


Hamptons New York Home Sales Climb 59% as Deal Seekers Buy

Bloomberg – Oshrat Carmiel, Prashant Gopal
Two other real estate brokers issued Hamptons sales reports this month. The Corcoran Group, based in Manhattan, said annual home sales tumbled 22 percent in

Well, it’s been awhile since there has been enough news to make a Round-Up.  Here’s the buzz:

Ready to Spend, but Not to Boast
New York Times
In the Hamptons, where real estate agents court bankers looking for summer homes, the sales are also expected to be a boon for contractors,


Richard Demato
The Sag Harbor Express
The real estate market is getting busy again, the inventory of houses is declining. After a tenuous financial hold in 2008, it appears The Retreat will be

Foreclose threat hits Hamptons big shots
New York Post
The priciest of the bunch is 80 Further Lane in East Hampton, a tony beachfront home with an $8.5 million mortgage, said CEO Bill

01/22/10  Opinion,


A Non-Delirious New York

Recovery should not mean a return to the excess that betrayed so many.

Hampton Bays condo plan moves forward
By Will James Within the next six weeks, a developer will finally go through with the demolition of the abandoned Allen’s Acres Motel in Hampton Bays,

What Home Sellers Don’t Tell Buyers  WSJ

As buyers ease back into the battered real-estate market, they’re often hitting a stumbling block: fibbing by home sellers. Here’s how to protect yourself.

Million Dollar Money Pit
By The Independent |– Most people preparing to move into a new home feel joyful anticipation, perhaps peppered with a little concern

› BMW dealership an empty lot waiting for a buyer

Fewer McMansions on the Horizon By June Fletcher, WSJ

Builders Have Little Incentive to Create More McMansions and Hardly Anyone is Buying. There are Deals Out There, But You Better Act Fast.


Vornado Realty’s Roth Buys Madoff’s Montauk Estate WSJ

Real-estate mogul Steven Roth has bought Bernard Madoff’s beach house in Montauk, N.Y., for $9.41 million, nearly 6% more than its asking price.


Hamptons Luxury Homes: One of Country`s First Builders to Become Carbon Neutral
Dalene is the co-founder of the Hamptons Green Alliance ( and the developer of a unique methodology, The International Carbon


Michael Jackson Pepsi ad exec’s North Haven house for sale

The North Haven property belonging to the advertising executive who did the Michael Jackson Pepsi …


Hamptons real estate is suddenly sunnier
Crain’s New York Business
Home sales in the Hamptons—Long Island’s beach oasis for the rich and famous—are making a comeback. Sales rose 32% during the third quarter from the same


Good News/Bad News on Long Island Foreclosure Filings

As predicted, the 3rd quarter number of foreclosure filings (Lis Pendens) on Long Island has already surpassed the record set in the 2nd quarter with 8% of the filing periods still unrecorded.


Plan to Manage CPF Land
East Hampton Star
In conjunction with a downturn in the real estate market, East Hampton’s receipts from the transfer tax have dropped from a high of $30 million in 2007 to a


Banks Bite Bullet on Loans

Banks and loan investors are starting to bite the bullet and lower the principal on mortgages for some struggling borrowers, new data show.


Real Estate Bargains: High-End Homes – WSJ


Are Distressed Homes Worth It?

In August, nearly a third of overall housing sales were distress sales. But home buyers are discovering that the bargains can come with a steep price.
My So-Called Business Plan (Enter Laughing)
New York Times
It is no coincidence that they operate the best restaurants in the Hamptons. Pricey places attract good customers, good customers attract staffers who can

Realogy reduces debt by approximately $70 million

Realogy Corporation announced that it has closed on the incurrence of $515 million aggregate principal amount of second lien incremental term loans that mature in 2017. Realogy will issue $515 million and an additional $135 million on a delayed draw basis on Oct. 9, 2009, subject to receipt of additional lender commitments for which there can be no assurances such commitments will be obtained. The company said it would use the proceeds to reduce at least $365 million of borrowings on its $750 million revolver under its existing credit facility and refinance approximately $220 million of 11.00%/11.75% Senior Toggle Notes due 2014 from affiliates of Icahn Partners, L.P. for $150 million of borrowings. The net effect of the transactions is that Realogy will immediately reduce its outstanding debt by approximately $70 million. “We are pleased with both our ability to raise new capital in today’s credit market and Apollo’s increased investment in our company through purchases of Realogy’s bonds,” said Realogy President & CEO Richard A. Smith. “These are tremendous signs of investor confidence in Realogy, our business model and the value of our brands as well as the performance of our management team and our employees.”
or, it’s called CYA by a bunch of former real rich guys, now kinda’ rich guys.

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


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.


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


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


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.

Long Island’s North Fork an easygoing wine trip
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

East Hampton tax hike is certain
By Beth Young The only thing that’s certain about the preliminary budget that East Hampton Town Supervisor Bill mcgintee plans to present by the end of


Hamptons Cesspools Keep Towns’ Character as Sewers Are Stymied
2 (Bloomberg) — Commercial and residential development in the Hamptons, the seaside playground for wealthy New Yorkers, is being held up as politicians


The Wisdom of Seller Financing

June Fletcher, Wall Street Journal

You’ve got a buyer, but he can’t obtain a traditional mortgage and needs you to be the lender. Should you take the deal?
Madoff’s Montauk Home to Hit Market at $8.75 Million
“You’ve got a lot of competition” said George Simpson, president of Suffolk Research Service Inc., a Hamptons real estate data firm.
Walk on the Wild Side: Lou Reed Moves to the Hamptons
I said recently that TwentyFourBit wouldn’t be the place for Cribs-esque posts, but screw it ’cause some of these living music legend real estate stories


Bottom-Fishing on the East End

casaCARA: Old Houses for Fun and Profit

I’VE BEEN GETTING FED UP with house prices here in the Humptons. Yesterday my friend Debre and I stumbled upon an old farmhouse with a ‘For Sale’ sign on Old Stone Highway in Springs, below, found the door open (!) and the realtor’s flyers conveniently stacked on the kitchen counter. I was hoping it was under $1mil. In fact, they’re asking $2.5mil.

Curbed Hamptons: Gere Sells, Madoff Mysteries, And More!
1) For celebrities as for the rest of us, the way to move property this summer in the Hamptons is with liberal use of the ol’ PriceChopper.

To Unload a Mansion, Many Must Turn to Auctions
New York Times
But increasingly, people with multimillion-dollar homes who need to raise money are discovering they have few alternatives, as the luxury real estate market

In ritzy East Hampton, beware the deadly tire boot!
Mother Nature Network
(Credit: Flickr/quinn.anya) You have to be tough to take a seaside vacation in the Hamptons, the billionaires’ paradise on the upscale end of Long Island.

Reverse mortgages on the rise as seniors find financial security
The Virginian-Pilot
“Money was getting kind of tight, so I called a real estate dealer I knew and told him I thought I’d sell and move up north, closer to family,

Lloyd Blankfein Misses the Mark
Who’s going to keep high-end real estate brokers busy? Who is going to keep the fancy stores on Fifth Avenue in business? (Besides tourists from China,

Is the housing bust about to take Manhattan?
Reuters – USA
By Helen Chernikoff – Analysis NEW YORK (Reuters) – New York City real estate prices are looking increasingly shaky as instability in two of the city’s

Plein Air Peconic Opens At Clinton Academy – Southampton,NY,USA
By Eileen Casey East Hampton – Plein Air Peconic 2009 artists held an opening exhibition at the historic Clinton Academy in East Hampton on Saturday,

Peapod by Stop & Shop just recently extended its home grocery delivery service to Shelter Island, in addition to the Hamptons and North Fork….

Bank Repossessions Surge, More Foreclosures Hit the Market

Wall Street Journal

East Hampton’s Former Town Budget OfficerArrested
East Hampton Star – NY, USA
By Carissa Katz (June 11, 2009) If there was one thing East Hampton’s political leaders could agree today after the the former town budget officer,

Richard Gere and his family downsizing to one
National Post – Toronto,Ontario,Canada
Saunders & AssociatesThe new price for the seven-bedroom, 10.5-bath farmhouse, called Too Many Maples, is US$7.2-million. Just a few months after listing

Beach sticker fee is raking in money – Southampton,NY,USA
Mr. Overton was concerned earlier this spring after he received a number of calls from real estate agents and summer residents who wondered why they

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