Okay, Citibank knocks out Wall Street with the underperformance rating and reportedly just prior sent this message to mortgage brokers including those located in Suffolk County who now fear the, "Hamptons aren't pulling their weight in the Suffolk County numbers." The message as passed along by one mortgage brokerage. The broker continues, "Nassau and Suffolk have officially been declared a Declining Market by Citi. This means that they will now cut the maximum loan to value by 5 percent on all products and will demand appraisal comps that must be less than six months old. This generally makes it harder across the board. While they are currently the only bank to have given us this distinction, it is almost certain that other banks will follow. So, if we're increasing on the east end, just how awful is it west of the bridge?"

Property listed with The Corcoran Group.

So what does that tell us? Well, for me, it says mortgage companies have their doom and gloom forecasters as well. Hang in there guys and gals. When you are dealing with market responses, it is mostly all in the perception. So send us all the good things as well! (We do know if there is market weakening perception, then call your bottom fishermen and investors. That perception changes in a minute with all the stuff they will gobble up.)

From the Corcoran Group, we read they are preparing to unveil their latest online development. "Through its My Corcoran application Corcoran.com now will remember the visitor and present information targeted to the user in much the same way as on retail outlets like Amazon.com. Well-known for the innovative use of technology in its marketing, Corcoran is excited to deliver this degree of customization on its website."

I wish I knew what that all meant, but I know you do, so I will go on with the Corcoran explanation. "The fundamental power the site now offers the user is the ability to personalize the homepage. Visitors may focus the website's attention not only on the specific market that is of interest to them, but also ask Corcoran.com to feature its newest listings, open houses, featured properties, or most-viewed homes in any of its three central display windows."

Yes, well, I am still of the loose leaf book school of real estate members referred to as dinosaurs where listings fell out because we didn't use reinforcements.

Here's a nice deal made by John Healey, Senior Vice President of Town and Country Real Estate's Bridgehampton Office. Just a simple cedar lined beach house - yeah, right! Sold and closed at $18 million.

Property listed with The Corcoran Group.

Now we have the eco-broker. This in from The Corcoran Group as well. I think it is all interesting on many levels so we are putting it all in. "Penelope Moore…[the Corcoran Group, Shelter Island] is an example of the quality real estate professional the EcoBroker designation continues to attract," explains EcoBroker International's CEO, Dr. John Beldock. "These real estate professionals are not only distinguishing themselves in a competitive marketplace, they are really giving back to the community in very constructive and meaningful ways. Shelter Island needs more contributors like Penelope. The planet and our grandchildren need them too," Dr. Beldock said.

"We are proud that Penelope has taken the initiative to become EcoBroker certified. She is leading what I believe will be a growing movement in East End real estate," stated Joshua Y. Horton, Senior Managing Director of Corcoran North Fork and Shelter Island.

"I live and work in real estate on Shelter Island, where my clients and customers seem to have a heightened awareness of energy efficiency and the environment, so there seems to be a natural fit. The EcoBroker designation doesn't make me an energy and environmental expert, but it does allow me to better understand the issues and convey this understanding to my clients and customers" stated Ms. Moore.

Ms. Moore continued, "With EcoBroker® training, I have broadened the range of real estate opportunities I offer my clients. Whether the transaction involves environmental assessment and mitigation (mold, etc.) or the opportunity to reduce utility bills, I am in a position to help. The real estate industry is changing, and to best serve my clients, especially in a place like Shelter Island where natural resources are so precious, I need to understand the newest designs, technologies and environmental issues. My EcoBroker designation helps me stay ahead of the curve."

A mention of sympathy to the family of Linda Stein, New York City Real Estate Broker who suffered a tragic and brutal death this past week. Stein was known to us and many people in East Hampton and Southampton.

East End real estate - a strange and often sad business as well.