Amazing island values

[Lake Fan]

For the past few years there have been very few island properties listed for sale. All of a sudden there are several, with others showing up almost daily.
With prices for even a pretty basic island camp approaching one million dollars, are owners figuring it's time to cash in? My dad bought our island property in 1970 because it was affordable. More than one person told him he was nuts.

[Biggd]

Originally Posted by Lake Fan

For the past few years there have been very few island properties listed for sale. All of a sudden there are several, with others showing up almost daily.
With prices for even a pretty basic island camp approaching one million dollars, are owners figuring it's time to cash in? My dad bought our island property in 1970 because it was affordable. More than one person told him he was nuts.

Many old waterfront camps, not just on the Islands, are still selling quickly. One sold near me for 1.3 million and IMO, it's a tear down. But I think the buyers are going to fix it up. It was in the family for over 60 years and they decided to cash out high, can't say that I blame them. It wasn't getting much use, or much maintenance and the tax bill was making it unaffordable for the average person as a second home.

[codeman671]

Originally Posted by Lake Fan

For the past few years there have been very few island properties listed for sale. All of a sudden there are several, with others showing up almost daily.
With prices for even a pretty basic island camp approaching one million dollars, are owners figuring it's time to cash in? My dad bought our island property in 1970 because it was affordable. More than one person told him he was nuts.

It has been a slow season for island listings and closed sales. Only a couple have closed and a few have been contingent for a while that should close soon. Well below normal.

Late last week stuff finally started coming online and a few are already contingent. Its that time of the season where people know that if they sell it won't close until after labor Day so they don't close the end of summer.

[Juiced06GTO]

Descant and Flying Scot, thanks for the tips. I'll def look into it!