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The Tri-State area's number one source for News and Information. The Ultimate Hello Kitty Selection at Sanrio. A real estate slowdown means something just a little different in the Hamptons, the Long Island playground of the rich and famous. Stock losses and all, prospective buyers may be pickier this year, but they're as willing as ever to pay a premium for a home in the oceanside area that attracts stars from Spielberg to Seinfeld. While home sales in the Hamptons dropped 36.8 percent during the first quarter of this year compared to last year, property records show, the cost of a house in the posh Hamptons climbed 22.5 percent.