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Susan, Other/Just Looking in Mirror Lake, NH

I am thinking of buying a condo at St. Croix Pelican Marsh...do you think it is a good idea?

Asked by Susan, Mirror Lake, NH Sun Mar 29, 2009

The prices seem good and we are looking for a place to retire to in about ten years. We liked the St.Croix/Pelican Marsh condos but don't know that much about the area etc. We would rent it out and use it more of an investment property for the time being. Do you think it is a good idea?

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St Croix has several units for sale on the market. Several short sales available. Short sales do take a long time to get an answer. The Reserve at Naples also has several units for sale and a little closer to the beach. You can search my website at http://www.napleshomesnelson.com and find all the properties on the market. If I can help you do not hesitate to contact me at hugnelson@comcast.net
Huguette Nelson
Prudential Florida Realty
1 vote Thank Flag Link Tue Mar 31, 2009
I be3leive this is a great time to buy. We have seen a significant upturn in volume of sales which is what I believe is required to start the turn around in our market. Every month since September of 2008 has shown a year over year increase. Interest rate are spectacular for qualified buyers and pricing has retracted to below a level that would be expected in a normal environment. There is always risk involved but I believe we have one of the best buying opportunities in naples that we could possibly.

The income generated from rentals can in some cases cover most or all of the costs. This is mostly true in lower end properties and selective properties that can be rented on a weekly basis. Seasonal rentals take alot of persoanl effort to be profitable and higher end propertie do not command annual rental rates that will sustain ownership.

All in all if you are planning to retire or live in Naples, I believe this is a prime time to buy. Please call to discuss my reasons and available properties.

Ken Lowe - Realtor
Prudential Florida Realty
Let Me Help You Put Your Footprints In The Sand
1 vote Thank Flag Link Sun Mar 29, 2009
Hi Susan,

There are many good opportunities in many great communities. Now is a wonderful time to buy, but don't expect too much out of a rental. Rentals, during the season, are great, but annual rentals are not so great. Either way, be advised that rental income WILL NOT carry your purchase on an annual basis. The market is very low right now, so if you can afford to carry the property you buy, you can get wonderful buys at very low prices that will yield great returns in a few years.

If you would like to search the Naples MLS yourself, just go to my website and, on the left side, click on Search MLS. Let me know if I can be of assistance to you.

Good luck,

Dennis Leffert, J.D.
Lic Real Estate Broker
1 vote Thank Flag Link Sun Mar 29, 2009
Hard not to think of it as a great idea right now. the low end market is on a roll right now. Let us know if we can be of any assistance or send you the latest available units in the complex.
1 vote Thank Flag Link Sun Mar 29, 2009
Of course nobody can tell what will happen in the span of 10 years until it is time to retire. In Naples, there are no areas too far from anything. It is a small place and driving is quite pleasant with the beautiful roads and well maintained vegetation. The area is relatively new and the condo prices in St. Croix are reasonable. It is a good investment since you will be starting at the low end before price increases in the coming years considering that these condos were in a desirable community and not far from beaches. Screening for renters is of utmost importance as they could give you maintenance problems and unless your property is within walking distance to the beach rentals may not cover your mortgage payments. You also have to think about management of the property. Suggest you make an analysis first of income to value for a sound investment. If the value of the property keep on increasing then you are in luck for purchasing it at this time. If I can be of further assistance please contact me. Thank you.
0 votes Thank Flag Link Tue May 29, 2012
I believe we have passed the bottom of our market and that prices will begin to climb up. I feel that the best investment for future retirement is a property where you intend to live. The rent can pay off the property and provide a lifelong benefit. I would be pleased to show you the available units and other competitive properties to help in your decision. I also have associates that can assist in rentals after your purchase.
0 votes Thank Flag Link Tue May 29, 2012
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