Almost Oceanfront East Hampton House Now $16.5M

This property hit that market last Christmas Eve asking $19.5M. We thought it had a lot to offer: almost three acres with frontage on Georgica Pond, right across from the ocean. So great location, reasonable price, plenty of land, pretty gardens, nice pool—what was the catch? Probably the house, which is unpretentious and charming, not to mention smallish, with only four bedrooms, too. We wondered if it was a teardown.

Commenters said yes. "What's that? Hear it yet? ...it's the rumble of a bulldozer off in the distance. Or maybe...its the sound of music. No it's Julie Andrews riding a backhoe." And "Thar she goes." Well, it's still around and now it's $3M cheaper. Is the price now low enough to attract a buyer? Seems cheap to us, even though it's possible some of the land is marshy and unbuildable.

· Coveted West End Road [Corcoran]
· Tour an Almost Oceanfront East Hampton House for $19.5M [CH]