Kennedy family’s famed Hyannisport compound is almost legendary, and it is of historical importance. However, the price seems to be falling down though the reasons are quite ambiguous. There has been a drastic a $2.2 million drop from 2009 in the price of the mansion, which was originally valued at $11.5 million. The 7,400-square-foot home costs $6.2 million now and there are houses that belonged to both John and Robert Kennedy.
Apparently there are hardly any buyers in the U.S. and that has resulted in a market that is crunched and severely in deficit. Buyers think twice before investing and even if they desire to buy, they seem to lack the funds to buy such properties. Eventually the prices have dropped leading to surprisingly low prices for such historical and legendary houses.
It remains to be seen if the house would be sold next year for a lesser price, or if the real estate market would improve and the prospects of the house being bought at a better price becomes a reality. Nevertheless, it is also a great investment opportunity for foreign buyers from economically stronger countries elsewhere in the world.
Via: Boston Herald