Prices Paid for Waterfront Homes- It’s Always in the Eye of the Beholder

 Prices Paid for Waterfront Homes- It’s Always in the Eye of the Beholder

waterfront

I know I sometimes marvel at the prices paid for waterfront homes in RI real estate -yes, it’s always in the eye of the beholder which may not always be clear to me. 

What did it uniquely have to offer to buyers that it was able to command such a premium over asking price?  If I had an opportunity to view the home perhaps I would know but speculation is a game in this business of real estate.  Isn’t it?

Did the house have a waterfront location like no other?  Did the architect design it in such a way to take full advantage of the oceanfront as well as breathtaking sunsets?  Were the amenities and fine craftmanship like a work of art?  A million questions might be surmised by the whys…but it is in the eyes of a beholder(buyer here) that determines that ‘je ne sais quois’ fact of difference…and aren’t they the fortunate ones.

As a true connoisseur of early American furniture, I appreciate the differences that can be felt and learned when considering a fine piece of furniture.  Whether it’s fine real estate or fine antiques, the search for that piece that stands above the others is a fine and desirous hunt.

And just like an 18th century knee hole furniture piece finely handcrafted by the famed Newport cabinet maker, John Goddard, it was a buyer who appreciated, desired and paid a premium price almost four times Christie’s Auction House experts pricing for it…would you say $3.6 million for it was a bargain or a fair price?

It is truly interesting how it is not about the materials and labor here to determine the right price for a waterfront home or antique furniture piece.  It’s that uniqueness above all else that commands prices paid for waterfront homes – it’s always in the eye of the beholder.

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Ginny Lacey Gorman is your go to real estate agent for homes for sale in North Kingstown RI and beyond…knowing the geographic area, schools, happenings, important tidbits of local information and businesses well. If you are looking for someone to guide you through the home buying or selling process, Ginny is a licensed agent and would be happy to assist you.

Waterfront, oceanfront and coastal RI homes for sale are her specialty but all of RI is her backyard.   When you are in need of more information from an internet savvy marketer who sells RI houses in this real estate market, call Ginny at 401.529.7849.

Comments

  1. says

    Oh, absolutely…there is nothing like waterfront property, at least in my humble opinion. You can buy lots of cosmetic updates but a property that takes advantage of a waterfront view is practically priceless (although the bank will put a price on it, to be sure).

  2. says

    Hi Ginny…Waterfront and waterview properties are like gold…..they are in a different category than the traditional residential property….they don’t make waterfront lots anymore and it’s supply and demand.

  3. says

    Ginny- We’ve got some properties overlooking the Potomac River that are just spectacular. It can’t replace the ocean, though. I envy your location. As for the prices they command… hard to stomach, and not so easily understood. There is an art to articulating the nuances between waterfront and other properties. Comparing it to a fine antique is perfect! Love your web site.

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