With interest rates so low, summer rents could actually make your vacation property cash flow positive. This has rarely been the case in the past. My friend who is a mortgage banker told me his bank was offering their lowest rate in bank history on a 5/1 Jumbo ARM mortgage up to $4MM-2.375%!!! That is [...]
Today, there are: 640 properties actively listed and 54 properties are under agreement or 7.8% of total market. One year ago, there were: 725 properties actively listed and 52 properties under agreement or 6.7% of the total market. So, despite the wild stock market, inventory is down 12% and deals are up 4% over a [...]
As of today, there are: -629 properties actively listed for sale -55 properties under agreement So, a little over 8% of the whole market is under agreement. That is a good sign, as the market has not reached the 8% mark since late August/early September over the past two years. Couple that stat. with the [...]
We are off to a decent start of the main selling season. Currently, there are 39 pending deals ranging from a $245K (asking) piece of land to three lots sold as a package for $7.45MM (asking). There were 38 pending deals at this time last year, so basically the same amount of deals, but there [...]
Paper roads for sale in Surfside. The town is currently undergoing their second round of yard sale program. How the program works: The town has marked off a considerable amount of paper roads that they deem will never need to be opened up and or constructed. The town then takes the paper roads by eminent [...]
Seems that with all this money getting pumped into the economy, inflation is inevitable. Actually, there have already been signs of it and that’s excluding energy and food prices which have sky rocketed. So, a great way to hedge against inflation is to buy hard assets, like real estate, because the price of hard assets [...]
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 [...]
My wife Jenn and I are in Harbour Island, The Bahamas. It is a beautiful island with many similarities to Nantucket-great beaches, restaurants, festive local/non-local crowd, tight-knit local culture, great fishing and valuable real estate. Naturally I thought what is the process of buying real estate and what are the fees. Besides the 8-10% brokerage [...]
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