The Obamas have picked out a very nice property in Martha's Vineyard. This 6,892 square foot house sits on 29 acres of ocean-front property.
They ended up getting a great deal on it as well. The property was original listed in 2015 for $22.5 million. The price was dropped twice this summer, first to $16.25 million in June, then to $14.85 million in July.
The previous owners are Wycliffe Grousbeck and Corinne Basler Grousbeck, owners of the Boston Celtics.