Looking to be an islander again

[ishoot308]

Originally Posted by Biggd

I didn't realize it was a sellers market for Island properties. I'm always on the look out for a deal but I don't see any deals out there unless they need work. Those are the properties I like to buy. Good luck with your search.

Codeman is quite correct, it definitely is a sellers market! My brother in law has been looking for island property as well. Not much out there and what is out there is priced very high. Assessed or appraised value means nothing right now. Sellers are getting their price and pickings are slim! Can't get financing because property doesn't appraise?...doesn't matter, cash is king right now! Lots of cash deals happening right now and things are moving very quick!

Dan

[Biggd]

Originally Posted by ishoot308

Codeman is quite correct, it definitely is a sellers market! My brother in law has been looking for island property as well. Not much out there and what is out there is priced very high. Assessed or appraised value means nothing right now. Sellers are getting their price and pickings are slim! Can't get financing because property doesn't appraise?...doesn't matter, cash is king right now! Lots of cash deals happening right now and things are moving very quick!

Dan

I've never had an interest in Island property so I did not know this. It doesn't seem like the mainland properties are selling that quickly.

[codeman671]

Originally Posted by Biggd

I've never had an interest in Island property so I did not know this. It doesn't seem like the mainland properties are selling that quickly.

There has always been a large delta in price between island and mainland. Two completely different type of buyers financially. On the islands you can buy a slice of heaven for $300-500k, on the mainland multiply that by 3 to 5 times for the same. When we sold our place years ago on an island for $613k, the equivalent on the mainland would have been 3 times that.

[NH.Solar]

Codeman,
If you haven't already done so, be sure to contact Nancy & Doug Deporter. They know the islands better than any other realtors and walk the walk ...Nancy has been summering at the family island property for over fifty years now!