{"id":238,"date":"2010-11-19T09:30:15","date_gmt":"2010-11-19T14:30:15","guid":{"rendered":"http:\/\/new.jpfco.com\/dir\/archives\/238"},"modified":"2013-07-23T12:45:04","modified_gmt":"2013-07-23T12:45:04","slug":"if-you-can-find-one-they-are-mostly-excellent-values","status":"publish","type":"post","link":"https:\/\/www.jpfco.com\/dir\/if-you-can-find-one-they-are-mostly-excellent-values\/","title":{"rendered":"If you can find one, they are mostly excellent values…"},"content":{"rendered":"

Bank owned properties, known as REOs (real estate owned), on Nantucket mostly present excellent values. Although they are few and far in between on Nantucket because most homeowners have enough holding power to get them through this lean time, if you can find one and it is in an area you like, you should take a hard look at it. So far, J Pepper Frazier Company has closed a handful of REOs and is the leading company on Nantucket handling REOs (for example, 8 Sunset Hill Lane) <\/a>. In my experience, what I have found is the REOs mostly get multiple bids and end up going to a highest and best sealed bid within the first week of being listed. This phenomenon demonstrates two good points. One, there are buyers in the market place and the market has a bottom. If there were no bottom, then there may not be a liquid price, but given the fact that most closed REOs on Nantucket received multiple bids and usually sold for over the asking price proves that there is a bottom and properties have a liquid value. Two, if you really want to sell your property and you have the liberty to price it aggressively (i.e. you will not be upside down on the mortgage), then there is a price it will sell at. REOs are strong examples of how to get your property sold quickly. Again, the REOs are far and few between on Nantucket, but if you see one listed, definitely worth a look if just for educational purposes. <\/p>\n","protected":false},"excerpt":{"rendered":"

Bank owned properties, known as REOs (real estate owned), on Nantucket mostly present excellent values. Although they are few and far in between on Nantucket…<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,10],"tags":[],"class_list":["post-238","post","type-post","status-publish","format-standard","hentry","category-local-real-estate-market","category-real-estate-news"],"_links":{"self":[{"href":"https:\/\/www.jpfco.com\/dir\/wp-json\/wp\/v2\/posts\/238","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=238"}],"version-history":[{"count":0,"href":"https:\/\/www.jpfco.com\/dir\/wp-json\/wp\/v2\/posts\/238\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.jpfco.com\/dir\/wp-json\/wp\/v2\/media?parent=238"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.jpfco.com\/dir\/wp-json\/wp\/v2\/categories?post=238"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.jpfco.com\/dir\/wp-json\/wp\/v2\/tags?post=238"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}