After five years on the market, less than half price in Georgica

We’ve said it so many times–price your property right when it’s listed and you’ll be much better off. With, of course, the caveat that it can be hard to tell what a good initial ask is. However, we all know there are those sellers who insist their property is worth much more than it really is, and who say things like “I don’t have to sell.”

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This property, on Georgica Close Road, was ambitiously priced from the beginning. Remember those heady days of August 2015? Obama was president, the Greek debt crisis, Kanye West announcing he was running for president in 2020? (Yes, he did.) This property, two acres on an inlet of Georgica Pond, was listed for a cool $15 million.

We will say, the seller has been fairly proactive about slicing the price in the past five years. Now the property, represented by Lori Barbaria at Douglas Elliman, is asking just $6.5 million; $1.5 million was shaved off the price yesterday. Is that low enough, though?

First, let’s see what’s on offer here. Even back in 2015, we were in love with the pool with the boulders in it, but then we love natural-style pools. Most people in the Hamptons, though, want the standard rectangle surrounded by grass. The two acres also includes a cute pond (we’re also a sucker for ponds) and views of Georgica Pond as well as a tennis court. The house itself is 5000 square feet home with seven bedrooms, seven bathrooms, two powder rooms, an open living area, and four fireplaces. But it’s dated and not in a good way and the furnishings aren’t doing it any favors. We’d have a good architect come in and redesign the place for a fun retro look, which would be very cute and not too expensive.

So we guess it comes down to someone having the ability to see what could be there. 112 Georgica Close Road is also waterfront, also two acres, and asking $2 million less. (We’re not fans of the house, though.)

We’ll keep an eye on this place. We think there’s a deal to be had. Let us know what you think in the comments.

 

 

 

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