Hamptons sellers lower prices, but not enough for buyers

Sellers in the Hamptons are starting to chop prices as summer approaches, but buyers are still submitting lowball offers, brokers say. The Corcoran Group’s Susan Breitenbach is listing a seven-bedroom home on 3.5 acres in Bridgehampton for $8.75 million, while it went on the market last year for $14 million. “I don’t get insulted when someone lowballs,” Breitenbach said. “When I counter
and get no response, that’s when you know the person is a bottom-feeder … not a serious buyer.” And Brown Harris Stevens broker Cornelia Dodge said offers for her own 3,300-square-foot East Hampton house, listed for $1.725 million, down from $2.3 million last year, have all been far below the asking price.