Friday, September 4, 2009

If only they could have saved Mr. Ed from his humiliating fate on TV! Plus Ponzi is the key word in real estate!

It's about the horses... insert Madonna joke here! This Saturday The Amaryllis Horse Rescue is hosting a Country Fair to benefit their horse sanctuary. It will be from 12:00-3:00 pm at Amaryllis Farm Equine Rescue's Educational Barn, 93 Merchants Path off Sagg Rd, behind Wolffer Vineyard, Sagaponack. 100% of the proceeds benefit the Amaryllis Horse Sanctuary! In case you don't know, Amaryllis Farm has rescued 90 horses from the glue factory and is devoted to educating the public about horses. Best thing is if you go to the fair you can actually meet some of the lucky horses. 631-537-7335

Finally some news about the real estate market and another tale to reassure you that you really do know more than most of those financial whizzes on Wall Street. An oceanfront house on Meadow Lane in Southampton Village, seized by the federal government after its owner was indicted for fraud, was sold recently for $25.9 million. It's the highest closing price for a house in the Hamptons in nearly a year.

To get some perspective on the allegeed financial genius's financial acumen. The house, which sits on 2 acres off Southampton’s posh Meadow Lane, was purchased for $27 million in December 2008 by James Nicholson(Mini-Madoff). Almost immediately after the purchase, Mr. Nicholson re-listed it for $34 million. In early spring, Nicholson was arrested on federal fraud charges for allegedly falsifying financial records of several hedge funds he operated. In case your bad at math... it sold for a less than what he paid for it... and about 10 million less than what he thought it was worth. Ohhhhh... can I give him my money!!!??? But just remember he hasn't been convicted... so it may all be one big misunderstanding. Meanwhile... the real Madoff's house has just gone on the market. Here's a video tour of the rather simple oceanfront home!

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