"Seasons spinning 'round again, the years keep rolling by."
Just before the 4th of July and as regular as the tides comes this cheerful hallmark of early summer season! First catalogued on Nantucket Beaches in the 1830’s, this rugged survivor grows on south facing banks at the edge of the marsh. Just high enough that it is not normally underwater, it does see its share of storm surges and high water events. As the rhythms of the natural world influence the agricultural calendar influences the school calendar and forms Nantucket’s vacation season, the less regular rhythms of world financial markets ebb and flow through the Nantucket real estate market. One certainty marks the start of the summer season. You can bet on a cyber flood of data and commentary on the first half of the year for Nantucket’s real estate market.
To what end ?
Optunia l., Coatue, July 2, 2017
Brilliant, insightful, canned, or pointless, all the data comes from the same place. All readily available. Consider an ever-changing spectrum of potential buyers competing in an efficient market. Transactions happen when the buyer universe intersects the smaller universe of potential sellers who are willing to sell. Two universes living in dynamic tension and occasionally buffeted by storm surges and high water events. Collectively, it is the sellers who determine the pace of activity. Buyers determine price. And none of that matters on an individual property transaction. It makes trivial difference whether markets are rising, flat or sinking; A slower market means that fewer buyers are seeing value at the prices offered. We all know plenty of people who would like to own property, here!
What to do when pondering buying or selling?
Find an agent you can trust, through referral or through interviewing
Be sure that you understand if your agent is working ONLY for you, or is finessing the question seeking to represent BOTH buyer and seller in YOUR transaction. At Bass Point Realty, we call that the double (dual) dip. More info here: Double (Dual) Dipping Hint: Agreeing to dual agency releases the agent from fiduciary responsibilities that otherwise apply under Massachusetts state law.
What do recent comparable sales say about the subject property? ONLY Those examples will point you to market value. Pay close attention to comparable recent sales.
It is not all that difficult to figure out current market value and the relevant data is right handy. The rest is noise.
Simplicity, Serenity, Peace.