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Reply to "Trading up from rehoboth beach summer house"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]If I had that cash and could be gone all summer, I would buy in Nantucket no question. You can get a lovely house there in the 3-4M range. [/quote] Actually you really can’t. We’ve been looking for a while with a higher limit, and anything in the $3-4 range has a serious fault (eg erosion, mid island, lack of parking, etc). We feel like we missed the boat and unless there is a serious crash we won’t find anything. I know this sounds ridiculous but it’s true [/quote] This is totally true. Plots near our home have gone for anywhere from $2 to 6 million and it costs more now than ever for supplies, labor and architects to build. The island isn’t getting bigger (it’s actually shrinking in Sconset) and more than half is in conservation so the supply is limited. The only positive thing I can think of in re prices is Dave Portnoy buying a house. That has to be a net negative for prices. [/quote]
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