So, the house you bought way back when is now worth a pile of cash. Trouble is, you are struggling to keep up the monthly mortgage payments. Or, you own the house free and clear, but your income isn’t adequate to keep you in the style in which you feel you deserve.
It’s bordering on cliché to say that the real estate market is very strong right now. If a property is priced right, it will sell, or so goes the common wisdom. But how many houses are priced right? Put another way, how many are overpriced? A lot, it turns out.
Even after receiving the news at the town planning board meeting, opponents of the plan stayed until the proposed zoning change needed to make it possible was discussed. The town planning board voted to recommend against the change, as had the Suffolk County Planning Commission.
Members of the Amagansett Citizens Advisory Committee were left stunned and confused Monday night following an often tense meeting, eight months after Connecticut developers had presented to them their proposal for the market-rate senior citizen housing complex known as 555 Amagansett.