Hamptons Real Estate News Round-Up 9/02/09

East Hampton tax hike is certain
27east.com
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 …

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

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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?

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Madoff’s Montauk Home to Hit Market at $8.75 Million
Bloomberg
“You’ve got a lot of competition” said George Simpson, president of Suffolk Research Service Inc., a Hamptons real estate data firm. …

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Walk on the Wild Side: Lou Reed Moves to the Hamptons
TwentyFourBit
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 …

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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.