{"id":1205,"date":"2013-10-13T16:18:38","date_gmt":"2013-10-13T16:18:38","guid":{"rendered":"http:\/\/new.jpfco.com\/dir\/?p=1205"},"modified":"2013-10-13T16:18:38","modified_gmt":"2013-10-13T16:18:38","slug":"the-nantucket-sleeper","status":"publish","type":"post","link":"https:\/\/www.jpfco.com\/dir\/the-nantucket-sleeper\/","title":{"rendered":"The Nantucket Sleeper"},"content":{"rendered":"

As a real estate friend of mine put it, real estate is about perception, not reality.\u00a0 For instance, if a buyer can’t stand bugs and every time she sees a wetland near a property, she perceives there to be bugs.\u00a0 But, in reality, there is a perfect property for her that is near a wetland, but actually gets a constant breeze, so there are no bugs.\u00a0 She’s never going to buy that property because her perception is blocking reality.\u00a0 This conundrum creates “sleeper” properties, which can hold great value, especially Nantucket Sleepers, because the market discounts them.\u00a0 For example, a property does not sell within the first year of being on the market.\u00a0 It is a perfectly fine property, but now buyers perceive there is something wrong with it.\u00a0 “Why has it been on the market for two years?\u00a0 There must be something wrong.\u00a0 Let’s skip it.”\u00a0 The fog clears and reality sets in for another buyer, “Yes, this has been on the market for three years, but there is actually nothing wrong with it.\u00a0 It is actually a great deal!”\u00a0 What happens after the clairvoyant buyer closes on that property?\u00a0 People say, “I can’t believe you got that property for that price!\u00a0 That was a steal!\u00a0 What a great deal!”<\/p>\n

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So, next time you see a property that has been on the market for longer than most, don’t ask, “What are the problems with the property?”\u00a0 But ask, “Are there any problems with the property?’\u00a0 The answer may very well be “no”.\u00a0 Lock it up and you’ve caught yourself an elusive “sleeper”.\u00a0 If the property is on Nantucket, you’ve caught yourself a rare Nantucket Sleeper!<\/p>\n

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As a real estate friend of mine put it, real estate is about perception, not reality.\u00a0 For instance, if a buyer can’t stand bugs and…<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1205","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.jpfco.com\/dir\/wp-json\/wp\/v2\/posts\/1205","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.jpfco.com\/dir\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.jpfco.com\/dir\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.jpfco.com\/dir\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.jpfco.com\/dir\/wp-json\/wp\/v2\/comments?post=1205"}],"version-history":[{"count":9,"href":"https:\/\/www.jpfco.com\/dir\/wp-json\/wp\/v2\/posts\/1205\/revisions"}],"predecessor-version":[{"id":1218,"href":"https:\/\/www.jpfco.com\/dir\/wp-json\/wp\/v2\/posts\/1205\/revisions\/1218"}],"wp:attachment":[{"href":"https:\/\/www.jpfco.com\/dir\/wp-json\/wp\/v2\/media?parent=1205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.jpfco.com\/dir\/wp-json\/wp\/v2\/categories?post=1205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.jpfco.com\/dir\/wp-json\/wp\/v2\/tags?post=1205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}