Back in April 2015, just about 14 months ago, we wrote about SeaWatch, a $10M waterfront estate on Whidbey Island with a marvelous location and views . Now, it is back on the market at $3,990,000. Something must have changed to drop the price 60 percent. Let's scroll through the numbers.
Then, it was listed as 25 acres, now ~3 acres. That could explain it, but the listing does mention two parcels, including 22 acres of tidelands getting the total back up to 25.
Then it was 2 bedrooms and 3.75 baths; yes, a $10M property with only 2 bedrooms - but very nice ones. That hasn't changed. The 4,349 square footage hasn't changed, either.
The property has an impressive 365 feet of high-bank waterfront, a separate building that can act as an artist's studio or a 20 person mini-conference center, and the estate has managed to accommodate 200 on occasion.
Maybe it was simply a matter of pricing. When it was at $10M, it sat on the market for over seven months. Maybe even event spaces built to work with the environment on a unique site have difficulty commanding seven digits. This will be one to watch. How quickly will it sell after the price was dropped 60%?
· 6675 Wahl Rd, Freeland [Estately]
· Sea Watch [SW]
· Huge Freeland Estate Certainly Not Free [CS]