A FAST START
The first 2 months of 2012 are off to a very positive start. Nantucket real estate sales have expanded 47% in transactions and 64% in dollar volume over the same time period of 2011.
Although it is a bit early to suggest this will be harbinger for the entire year it is a heartening sign. In addition there are some other metrics that point to an improving market. This chart is a snap shot through the end of February:
Over the last 2 years inventories are down and contracts and sales up. As result the pace of price reductions has slowed. All these factors point to an improving sales market. Today Buyers still have a great opportunity to buy. If the above trends continue, that window maybe closing.
Friday we get a second look at U.S. gross domestic product for the fourth quarter. The Commerce Department report is slated to hit the wires at 8:30 a.m. and will incorporate data that wasn't available in the first release a month ago. Here's what to expect:
Nantucket harbormaster Sheila Lucey announced last week that the town pier, which sustained over $1 million in damages from winter storm Juno last month, may not reopen until July 15, a date that may leave many that utilize the 88 slips with the necessity of temporarily relocating somewhere else.
Three properties on the market with ideal spaces for checking out starry nights.
What’s new this tax season? In a word: Obamacare. That’s the answer given by many tax professionals.