Consider the source, but one of the island’s real estate sales executives says business is picking up.
Islandia’s Merry Nash wrote on her firm’s blog, “If you wonder why our Blogs have been a bit sprase lately it is because we are wonderfully busy. People are on island again and seem to be in a shopping mood. Particularly for houses.”
She added, “Perhaps the first snow in the north is helping.”
Yes consider this coming from a realtor so be very skeptical. This real estate bust is worldwide and deleveraging is world-wide so you have to wonder why a lot of realtors still say their locales are “different here” or whatever.
Sorry, Calvin, but I’ll have to agree with Merry. While the frenzy of developer-built, ‘it’s all about the money’ villas that go up one after the other, and are sold at double the profit seems to be over, the real estate/ architecture/ construction end of things is still stable here. We’ve gotten lots of walk-ins over the past few months, and a healthy number are sticking with it. St John *is* different- it’s like a drug, and without regard to their 401k’s, many of our clients would sell children and limbs to finally build their dreams here.
Kudzu, that kind of defies economic logic given the current state of affairs of 401’s et al. But again what do I know, I’m not an economist nor a real estate agent.
Maybe they are both right. Merry says they are on-island again and seem to be in a shopping mood. She did not say they are buying. As a buyer myself I think what is going on is that people are bottom fishing. I don’t think there will be many sales until prices drop.
I enjoyed reading your article. It makes a lot of sense.
-Sarah