I love the saying first offer is usually your best offer because it is amazing how often it rings true. It is equally amazing how often sellers don’t listen to that saying and end up not making a deal with the first offer and end up settling in the future for a worse offer. Sellers [...]
Beyond hard statistics like time on the market, inventory levels, and properties under agreement, which are all improving, there is another, subtle sign that the market is improving-the high-end is heating up. In the last two weeks, there have been two high-end sales, 18 Rabbit Run Road for $7,000,000 and 59 Shawkemo Road for $7,747,500, [...]
The market continues to show signs of strength. A subtle one is the National Association of Home Builders just published “Top Counties for Residential Remodeling” in the US. Guess which county was number one? You got it, Nantucket, coming in at $8,520/household/year! This stat could be interpreted as people remodeling their existing houses rather than [...]
Not for long because the conservation groups are buying it all up, but that is great for all of us who love Nantucket (and like our property values to go up)! Nantucket has some of the strongest conservation foundations/efforts in the world. A group of great Nantucketers had the foresight to found the Nantucket Conservation [...]
I grew up in a real estate family. I have been hearing real estate deals being negotiated since I was 3 months young. Sometimes I would hear my mom say, “How’d the third showing with so and so go?” My dad would say, “Libby, it’s never a good sign if they want to see the [...]
To a layman looking on at a real estate auction, it seems straight forward-a bidder has the max she will bid, she’ll go back and forth with other bidders until a) she is tapped out or b) she wins the auction. Au contrair mon ami. Auctions have a lot more to them than meets the [...]
My dad always told me that Nantucket is one of the last ones in and first ones out of a bust. That’s another way to say that Nantucket is a very safe place to invest and/or park your money. Another way to see the strength of an investment is to look at capitalization rates. Cap [...]
Properties on the open market, 4/28/09, 602. Properties on the open market, 4/18/10, 560. Properties on the open market, 4/20/11, 482. Properties under agreement, 4/28/09, 18. Properties under agreement, 4/18/10, 32. Properties under agreement, 4/20/11, 50. I think I see a trend… Get in while the interest rates are still low!
Nantucket is not perfect, but it is pretty close. Once the new Dreamland Theatre is done, it will be directly across South Water Street from the Atheneum. So, Nantucket will have two, amazing, multi-faceted learning/cultural centers that complement each other perfectly a stone’s throw away from one another. I find that very cool and that’s [...]
National real estate statistics are just that-national. Although the national February numbers for new construction home sales and pre-existing home sales numbers were not what many had hoped for, these numbers take into account the US as a whole. But, there are many parts to the whole and Nantucket is one part. There are areas [...]
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