It didn’t sell, so raise the price

Gallows_point The gift shop at Gallows Point, aka Everyting, is back on the market. 

The Multiple Listing Service description says, "Business offers convenience foods, wine, beer, beverages, gifts, books, snorkel gear rental, booking service for boat rentals and much more! Price does not include the inventory."

Last fall, Everyting was listed by American Paradise Real Estate with an asking price of $179,000. 

Joan Sparling at American Paradise is the listing agent, again.  She's put a higher price on the 700-square-foot business, $189,000.

An MLS listing for the Gallows Point gourmet/gift shop is here.

5 thoughts on “It didn’t sell, so raise the price”

  1. Two years ago this property was sold for a number nearly twice the new listing price, but when the economy tanked the buyer backed out. The funny thing is, is that its really nobody’s business what price people ask for their property. Why do you care? 5 years ago STJ brought in a premium for everyone, now is a different time, but things are looking up! I personally replaced the awning out front and it was NOT inexpensive. Blue Tang should be 800 usd per trip, but it’s not. I want to know why.

  2. Mike:
    I care about real estate values on the island because I am an owner. Pretty simple, no?
    BT IS around $800/day, even in high season. The cost of maintaining a rental home is higher; certainly not cash and so on.
    flow positive for most owners. Electricity (for BT) $350/month, pool maintenance $200 month, landscaping, exterminator, management costs (to insure a good visitor experience) If you want to have rental homes from which to choose, you need to understand the owner’s not looking to lose money.
    Frank

  3. Frank,
    from my point of view, I think you missed Mikes.
    And I agree with Mike, it is nobodies business.
    Also, if the owners had a deal going through right now, this article could affect it.

  4. Well Frank, you’ve stated my case for me. I’m sure Everyting isn’t in the business to lose money and if the market will bear the new listing price, why not? Owner or not, unless you’re in a owners association/deed restricted community, stay out of other peoples business. STJ used to be like that many years ago. It’s too bad we’ve strayed so far from the charming little island I’ve called home for more than a decade. I also stand corrected re: Blue Tang…why not $400 per trip?

  5. On an island where real estate in 2005-2006 was so instrumental in building ghe economy, the health of market is critical to everyone.
    Realtors, Maintenance people, restaurants, gift shops, caterers, and so on. They all need a stable, and active, market where buyer and seller both think they got a fair deal.

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