By Christine Davis
Bob Montgomery has “found the bottom” and it is at $1.5 million.
Montgomery, of Ocean and Intracoastal Properties in Lantana, had been dropping his selling price daily for a couple of months to pique interest in his two-bedroom, two-bath Hypoluxo Island home. His mortgage was the determining factor, he said.
“I thought it would sell, but it didn’t,” he said. Never the less, “It’s listed perfectly. This is a fabulous piece of property. The views, the location — you can’t find better. It has a deep-water dock and is within walking distance to the beach.”
The property has been on and off the market, but he wasn’t motivated before. Now, though, he’s been diagnosed with macular degeneration and would like to move on. This past January, he had listed the house for $1.7 million, offering a $5,000 price reduction every day until he “found the bottom.”
“I’m keeping it at this price because it’s a phenomenal buy,” Montgomery said, choosing to stay positive, even though the home at 3 Barefoot Lane on Hypoluxo Island did not sell. “Today, we have great homes priced perfectly, and a fabulous inventory. The cream does rise.
“I really think things are going to pick up.”
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