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When it comes to mansions in the Hamptons, Christie Brinkley has decided that two is too many. The former supermodel has relisted both (yes, both) of her homes on Long Island for a combined total of $49.5 million.
The Bridgehampton estate and the Sag Harbor home, both listed in 2016 but later taken off the market, are currently listed for $29.5 million and $20 million, respectively.
Christie Brinkley is listing two Hamptons houses: one in Bridgehampton, NY, (top) and one in Sag Harbor, NY (bottom).
Brinkley’s primary residence is the more pricey of the two properties, the Bridgehampton estate called Tower Hill. But she plans to move into whichever home does not sell, according to the listing agent for both homes, Enzo Morabito. “She’s not leaving the Hamptons,” he says.
We’d be tempted to stay put too, in a place like Tower Hill, a lush 20-acre compound that contains a four-bedroom, five-bath main house; a four-bedroom, two-and-a-half bath guesthouse; a separate barn/artist studio with living quarters; and a 50-foot observation deck, perfect for taking in the beauty of the Atlantic coast.
And just in case you’re hoping it’s been relisted at a lower price, since no one bit last time? No dice—the $29.5 million asking price is exactly what it was back in 2016.
Christie Brinkley currently lives in her Bridgehampton estate.
realtor.com
The other shorefront home in trendy Sag Harbor was built in 1843 and overlooks 327 feet of private beach on the open bay. The 5,500-square-foot house boasts five bedrooms, five baths, and a panoramic view of the harbor.
Back in 2010, Brinkley listed this place for $16 million, then listed it again in 2016 for $25 million. So in this case at least, its current $20 million price tag could be seen as a bargain … of sorts.
Morabito thinks the home in Sag Harbor will be the first to attract a buyer. Why? The alluring location: This pad is just half a mile from Main Street.
“Sag Harbor is a hot town. It’s like downtown Manhattan—very eclectic, very desirable, just as ideal as it can be,” Morabito says. “You can meet anyone there, from locals to billionaires.”
Christie Brinkley is looking for the right buyer for her Sag Harbor home.Does relisting a luxury home tarnish its image?
While Brinkley’s homes are plenty palatial, we have to wonder: Are these multiple relistings a sign something’s wrong with these properties, or that they aren’t worth those stratospheric price tags?
Most experts say Brinkley has no reason to worry.
“We received quite a few offers last year, when we first put the Sag Harbor home on the market, but we’re trying to find the right buyer,” Morabito tells realtor.com, without getting into specifics of why those deals didn’t go through. “It’s a very special place.”
When it comes to the luxury real estate market, relisting is just par for the course.
“The higher the price point, the longer it takes any home to sell. This leads to an increase in the number of homes taken off the market and relisted later,” explains Glenn Phillips, CEO of Lake Homes Realty. “Sometimes this is a sales strategy, sometimes it is just a change of mind by the seller.”
But whatever the reason, it’s all OK when you’re dealing with multimillion dollar homes.
“These homes are discretionary purchases. No one has to buy one,” Phillips continues. “You just have to match up with the person who has the means and who is actually wanting to buy that house now.”
Why relisting can be rough for the rest of usFor those of us who aren’t unloading eight-figure homes, selling a relisted home is traditionally difficult.
“The perception is that something’s wrong with it, it’s defective or damaged somehow. It’s like day-old bread—no one wants to even touch it,” says Brian LeBow, a real estate agent with Coldwell Banker in Temple City, CA. He says 45 days on the market is about the time that the listing loses its luster.
“In my experience, the formula comes down to price + condition + exposure = a sale,” says Damian Hall, a real estate agent from Greenville, SC. “If one of those is off, it could easily create a situation where the home doesn’t sell and needs a fresh strategy.”
You’ll know your home is priced right if you receive offers within the first two weeks, the time LeBow refers to as the “golden-listing window time frame.” “That’s where the most offers are received if the home is marketed and priced correctly,” he says.
Tips on relisting your homeIf you do have to relist your home, all hope is not lost.
“Most sellers think they need to drop the price, and that isn’t always true,” says Joseph Skurkis, a real estate agent in northeastern Pennsylvania. He recommends identifying your previous agent’s strategy and then finding an agent who will bring a new approach, whether it’s using different marketing strategies, taking new listing photos or video, or offering up incentives like a free home warranty.
New York City-based real estate agent Adam Mahfouda agrees that the most important thing to do is something different. He suggests renovating, painting, restaging the interiors, lowering the price, or offering financing options. Sellers should also have a clear narrative on why the house didn’t sell the first time around, what was done differently this time around, and why, he says: “There are a million things that can be done, but the most important thing is do something different.”
The post Christie Brinkley Relists Her 2 Homes in the Hamptons: Why Haven’t They Sold Yet? appeared first on Real Estate News & Insights | realtor.com®.
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