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Behold, the Current Cheapest House in the Hamptons

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We decided to see what was out there for the least money, our criteria being east of the canal and a freestanding home (no mobile homes, condos, or co-ops). Here it is: 105 Mary's Lane in North Sea. It's a tiny (866sf) two bedroom one-bath cottage built in 1950, with an asking price of $320K. Negatives first: looks like it's a bank-owned foreclosure and the exterior photos make it look like it's in not-great condition. The listing says "In 2008 it had administrative wetland permits that allowed for expansion and detached garage but those permits expired in 2011." That means any new owner would have to reapply. Positives: it's in an OK location with 1.1 acres of wooded land.
· Southampton - Landscaper's Dream [Corcoran]