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At $5.995M, Is This Wainscott Five-Bedroom Priced Correctly?

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We were set to jump all over this one as being another home with an overly optimistic owner until we saw the lot size?5.2 south-of-the-highway acres that just so happen to back up to a 10 acre nature preserve (with a pond).

It's a shared listing and the agents representing the place are each taking an entirely different approach in the hopes of finding a buyer. Antoinette Imperiale over at Corcoran is touting the merits of the house itself and runs down the list of the usual Hamptons amenities in her brokerbabble. Diane Saatchi of Saunders, however, is playing up the property: "For the value of the land alone, purchaser gets a fine, shingle clad, traditional style home..." We're kind of on Team Saatchi with this one as the 4200 sq. ft. home is nice enough, but unremarkable. The real value is in the land.

Originally listed at $7.9M (we would have jumped on that) the house has shaved almost $2M from its asking price in the almost-two years it's been on the market. But is that enough? You tell us.

Poll results

· Listing: The Price Is Right [Saunders]
· Wainscott - South Of The Highway [Corcoran]