That beach of a "news" story from The New York Post two weeks ago was so weighted for sensationalism to this columnist's mind, that any germ of truth in it was bogged down by the ballast. We hope you, your clients, and your customers were able to celebrate Memorial Day weekend remembering those who sacrificed for us without concern for market spin.

Property listed with Prudential Doulglas Ellliman.

But see how things pass? We have another beach of a story, a different kind. Dr Beach (aka Stephen Leatherman) of Florida International University has listed Coopers Beach, Southampton and Main Beach, East Hampton as fourth and sixth, respectively, among the nation's top 10 beaches. So folks, you've come to the right place. And now that you're here we hope that you'll stay and take advantage of the buyer's market blip in the window and get yourselves a piece of the Hamptons.

News from Robert Kohr and Lori MacGarva, Prudential Doulglas Ellliman's East End Commerical Services Specialists. They have snagged a commercial exclusive on Montauk Highway, Southampton across from PC Richards formerly known as Flowers and Company. (PC Richards has two stores; Macgarva tells us they are keeping both. Rumors were they were moving into the newly built one, but that store is specifically for gourmet/high end appliances). "So this highway location in Southampton is a high profile area for house products. The listing on 3/4 acre zoned nursery/landscaper/furniture store is priced at $2.5 million."

George Simpson - about our Mother's Day column - "Good that you covered the two give-away houses for the Suffolk County poor before you talked of the $39 million dollar stuff. Let 'em eat cake - that's the song of the Hamptons. It's like giving used computers to needy kids. Every child needs a computer, but to give away used ones is letting the poor know they are less than the rest of us."

Now there's a thought for all you real estate firms. Find a way to give computers to our East End students who need them. You'll be helping their futures by providing this critical educational tool. A computer crusade for kids! Interested? Contact me. Or just do it!

Now for the industry reactions to that news piece - a brief note from Diana Weir, Long Island Housing Partnership: "Hope we don't see a repeat of the late 1980's." Right, Diana. And look what happened right after that.

An upbeat outlook from Shelter Island Broker/Realtor Hannah Dinkel: "Everyone in our line of business on the South Fork must have just loved the article. Frankly, the people we know don't read the Post for hard news. We, here on Shelter Island, were, in this case, 'skipped over'! Looking forward to a sunny summer and another vibrant real estate sales market!"

Property listed with The Corcoran Group.

A lengthy analysis from The Corcoran Group's Rick Hoffman Regional Senior VP East End: "Yesterday's news 'blitz' got me worked up. I decided to look into the numbers to give our agents the proper information to address customer and client inquiries generated by this sensationalist media. I'm certain the 'Foreclosure Crisis in the Hamptons' sold papers and piqued readers' interest, but I think the concrete facts should be known. The numbers don't paint a very negative picture. In fact, it seems the Hamptons appear fairly 'foreclosure proof' when compared to the rest of the country. It's amazing what the press will latch on to to sell a story. The national number of foreclosure filings - default notices, auction sale notices and bank repossessions - showed a 23 percent increase over the prior quarter and a 112 percent increase over first quarter 2007 nationally. A search of Lis Pendens filings in the Hamptons (i.e. the first notice filed with the County Clerk's office in New York State reporting possible foreclosure action) reveals that filings are down 4.4 percent from the prior quarter (from 115 to 110), but up 48 percent over first quarter 2007 (compared to 112 percent nationally) for the Towns of Southampton and East Hampton.

"How do the Hamptons (Southampton and East Hampton Townships) compare to other areas? Well, I like the adage that giving averages for the national real estate market is like giving average temperature for the United States; it's meaningless. Like weather, real estate is localized." Hoffman goes on to cite data from other States. He continues, "Looking at the numbers the picture isn't grim. There are approximately 35,000 homes in Southampton and 25,000 in East Hampton. In The Hamptons one in every 545 households received a Lis Pendens notice. Only one in seven Lis Pendens filings, however, actually go to a foreclosure sale. There have been no foreclosure sales east of the Shinnecock Canal since April 28, none yet scheduled up to mid-June," and concludes "it doesn't appear there is any 'fire sale' on foreclosure properties now or any time soon in the Hamptons."

Hey folks, it still doesn't hurt to try to find the great deal. More next week! But East End real estate is really a very strange business.