A six-bedroom, six-bath Sag Harbor estate was listed for $4.4 million last year. Now it’s on the market at $3.295 million. Selling real estate in the Hamptons right now is a little like being in the middle of an extremely high-stakes game of chicken. As the summer approaches, most sellers have reluctantly come to the conclusion that prices are simply not going to be what they were last year. And for this reason, figures have come down fairly dramatically.
By Max Gross, May 7, 2009, NY Post

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