Real Estate

The financial headlines tell us that the nation's central bank, the Federal Reserve (the Fed), is winding down its "quantitative easing" program.

The Tents are up in Bridgehampton for the Hampton Classic Horse Show extravaganza. The most beautiful trained and disciplined show horses are in many cases ridden by the most beautiful people. No doubt this is an event to take in to see the Hamptons horse people.

Beginning with a groundbreaking ceremony that featured Suffolk County Executive Steven Bellone and Southampton Town Supervisor Anna Throne-Holst, this summer has seen nonstop activity at The Hampton Business District, the visionary new business park under development by Rechler Equity Partners at Gabreski Airport in Westhampton Beach.

Much has been written about Watchcase Factory, the sixty-four unit Loft, Town House, Garden, and Bungalow condominium residence in the Hamptons' Village of Sag Harbor, one block from its historic Main Street.

This is it, Mid-August in the Hamptons. The private jets and helicopters are parked at East Hampton Airport and the huge mega yachts are all docked in Sag Harbor. The lawns in Southampton are green with private party tents going up and down and it's hard to get tee times at the Maidstone Club in East Hampton.

The North Fork is considered to run from Aquebogue east to Orient Point. To gain perspectives for that expanse of real estate, I interviewed three experienced real estate brokers to get their take on the market.

Yet again, Richard Gere has dropped the price of his twelve-bedroom North Haven estate.

"All My Children" star Susan Lucci has put her Hamptons home on the marketplace for the first time since purchasing the 1.4 acre piece of land in Quogue and building the exquisite estate during the 1980s.

After being on the market for nearly five years, Billy Joel has sold his Sagaponack beachfront property.

We hear through the media that the real estate market has turned around. Does the market up-turn in the Hamptons cut across all locations and price lines? Does it apply to sales and rentals? How are lenders responding to the changes and what impact are interest rates having? Are we in danger of repeating the mistakes that led...