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	<title>Comments on: Land ain’t selling</title>
	<link>http://www.on-stjohn.com/2007/06/19/land-ain%e2%80%99t-selling/</link>
	<description>News, Muse and Reviews</description>
	<pubDate>Thu, 28 Aug 2008 00:49:08 +0000</pubDate>
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		<title>by: Keep Left</title>
		<link>http://www.on-stjohn.com/2007/06/19/land-ain%e2%80%99t-selling/#comment-1885</link>
		<pubDate>Sat, 23 Jun 2007 02:55:52 +0000</pubDate>
		<guid>http://www.on-stjohn.com/2007/06/19/land-ain%e2%80%99t-selling/#comment-1885</guid>
					<description>Well there is a thirteen year plus supply of lots on St. John when considering current annualized sales and 290+ lots for sale.  This is mostly a result of purchases made in 2000-2002 in anticipation of EDC (Economic Development Commission)IRS tax breaks, which have since been mostly rescinded. Those buyers expected to immediately "flip" their purchases for double the money - guess what, didn't happen and won't happen in the next three to five years and of course if Castro dies then it will never happen!

Unfortunately, like musical chairs - when the music stopped someone was left without a seat and they were the land purchasers of that era.  I would say now is the time to get in there and make a purchase because they have been holding lots for five years or more and likely paying high interest rates and hurting with no prospect of a sale and lost opportunity costs of their investment for the past five years.  In most cases no purchase offers have been made.  Low ball offers will likely now get strong consideration - so don't look at the asking price, look at what they paid five to seven years ago give them some skinny profit and BUY!  This may very well be the last chance to buy St. John land at a somewhat reasonable cost.  To me, this is a GREAT OPPORTUNITY and I will take a "bag" of cash next month and see who is really ready to sell!  I'll give you feedback through Jeff on what was asked, what I paid and what happened.  But I can guarantee you right now I will be a buyer on one or more lots and this is coming from someone that currently owns land on St. John and is building another house there!</description>
		<content:encoded><![CDATA[<p>Well there is a thirteen year plus supply of lots on St. John when considering current annualized sales and 290+ lots for sale.  This is mostly a result of purchases made in 2000-2002 in anticipation of EDC (Economic Development Commission)IRS tax breaks, which have since been mostly rescinded. Those buyers expected to immediately &#8220;flip&#8221; their purchases for double the money - guess what, didn&#8217;t happen and won&#8217;t happen in the next three to five years and of course if Castro dies then it will never happen!</p>
<p>Unfortunately, like musical chairs - when the music stopped someone was left without a seat and they were the land purchasers of that era.  I would say now is the time to get in there and make a purchase because they have been holding lots for five years or more and likely paying high interest rates and hurting with no prospect of a sale and lost opportunity costs of their investment for the past five years.  In most cases no purchase offers have been made.  Low ball offers will likely now get strong consideration - so don&#8217;t look at the asking price, look at what they paid five to seven years ago give them some skinny profit and BUY!  This may very well be the last chance to buy St. John land at a somewhat reasonable cost.  To me, this is a GREAT OPPORTUNITY and I will take a &#8220;bag&#8221; of cash next month and see who is really ready to sell!  I&#8217;ll give you feedback through Jeff on what was asked, what I paid and what happened.  But I can guarantee you right now I will be a buyer on one or more lots and this is coming from someone that currently owns land on St. John and is building another house there!
</p>
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		<title>by: Pat</title>
		<link>http://www.on-stjohn.com/2007/06/19/land-ain%e2%80%99t-selling/#comment-1865</link>
		<pubDate>Wed, 20 Jun 2007 17:34:47 +0000</pubDate>
		<guid>http://www.on-stjohn.com/2007/06/19/land-ain%e2%80%99t-selling/#comment-1865</guid>
					<description>Just avoid FirstBank at all costs - as previously documented in Bongo Bongo Blog

Had yet another issue with them this week - their internal processes are non-existant.</description>
		<content:encoded><![CDATA[<p>Just avoid FirstBank at all costs - as previously documented in Bongo Bongo Blog</p>
<p>Had yet another issue with them this week - their internal processes are non-existant.
</p>
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		<title>by: Tom</title>
		<link>http://www.on-stjohn.com/2007/06/19/land-ain%e2%80%99t-selling/#comment-1855</link>
		<pubDate>Tue, 19 Jun 2007 23:15:16 +0000</pubDate>
		<guid>http://www.on-stjohn.com/2007/06/19/land-ain%e2%80%99t-selling/#comment-1855</guid>
					<description>I also read that your reserved parking space is only reserved while you are there and you'll need to valet your car as they're going to use the "stacker" to put two cars in one spot... I can only imagine how that technological wonder will last in STJ!</description>
		<content:encoded><![CDATA[<p>I also read that your reserved parking space is only reserved while you are there and you&#8217;ll need to valet your car as they&#8217;re going to use the &#8220;stacker&#8221; to put two cars in one spot&#8230; I can only imagine how that technological wonder will last in STJ!
</p>
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		<title>by: bjh</title>
		<link>http://www.on-stjohn.com/2007/06/19/land-ain%e2%80%99t-selling/#comment-1853</link>
		<pubDate>Tue, 19 Jun 2007 19:53:25 +0000</pubDate>
		<guid>http://www.on-stjohn.com/2007/06/19/land-ain%e2%80%99t-selling/#comment-1853</guid>
					<description>You can only live in the Grande Bay condos for 90 days per year. Why? because all your neighbors are mad as hell with you for blocking their view!</description>
		<content:encoded><![CDATA[<p>You can only live in the Grande Bay condos for 90 days per year. Why? because all your neighbors are mad as hell with you for blocking their view!
</p>
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		<title>by: Rob</title>
		<link>http://www.on-stjohn.com/2007/06/19/land-ain%e2%80%99t-selling/#comment-1847</link>
		<pubDate>Tue, 19 Jun 2007 15:29:40 +0000</pubDate>
		<guid>http://www.on-stjohn.com/2007/06/19/land-ain%e2%80%99t-selling/#comment-1847</guid>
					<description>Let me look on my desk to see if I can afford that deal...
Plastic triceratops
Sticky notes
$3.47 in change.

I'm almost there!  St John here I come!</description>
		<content:encoded><![CDATA[<p>Let me look on my desk to see if I can afford that deal&#8230;<br />
Plastic triceratops<br />
Sticky notes<br />
$3.47 in change.</p>
<p>I&#8217;m almost there!  St John here I come!
</p>
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		<title>by: Heather</title>
		<link>http://www.on-stjohn.com/2007/06/19/land-ain%e2%80%99t-selling/#comment-1846</link>
		<pubDate>Tue, 19 Jun 2007 14:28:18 +0000</pubDate>
		<guid>http://www.on-stjohn.com/2007/06/19/land-ain%e2%80%99t-selling/#comment-1846</guid>
					<description>Scotia must need to put loans on the books.  Compared to terms offered in my area, 5% with 20 year amortization is a liberal deal.</description>
		<content:encoded><![CDATA[<p>Scotia must need to put loans on the books.  Compared to terms offered in my area, 5% with 20 year amortization is a liberal deal.
</p>
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		<title>by: rick</title>
		<link>http://www.on-stjohn.com/2007/06/19/land-ain%e2%80%99t-selling/#comment-1845</link>
		<pubDate>Tue, 19 Jun 2007 13:13:16 +0000</pubDate>
		<guid>http://www.on-stjohn.com/2007/06/19/land-ain%e2%80%99t-selling/#comment-1845</guid>
					<description>Tom
Did you read the tradewinds today? You can only live in the Grande Bay condos 90 days per year! And NO wine coolers!Buy something already built.</description>
		<content:encoded><![CDATA[<p>Tom<br />
Did you read the tradewinds today? You can only live in the Grande Bay condos 90 days per year! And NO wine coolers!Buy something already built.
</p>
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		<title>by: Tom</title>
		<link>http://www.on-stjohn.com/2007/06/19/land-ain%e2%80%99t-selling/#comment-1844</link>
		<pubDate>Tue, 19 Jun 2007 12:40:42 +0000</pubDate>
		<guid>http://www.on-stjohn.com/2007/06/19/land-ain%e2%80%99t-selling/#comment-1844</guid>
					<description>Almost nice offset to the fact that construction costs have skyrocketed... the house we were told would cost us $900K - $1M to build in 2006 is now estimated to cost $1.7M...  Just buy a place at Grande Bay! - I bet a bunch of those should be coming up for re-sale... Only $3,000+ per month for cable tv and a place to cool your wine! :-)</description>
		<content:encoded><![CDATA[<p>Almost nice offset to the fact that construction costs have skyrocketed&#8230; the house we were told would cost us $900K - $1M to build in 2006 is now estimated to cost $1.7M&#8230;  Just buy a place at Grande Bay! - I bet a bunch of those should be coming up for re-sale&#8230; Only $3,000+ per month for cable tv and a place to cool your wine! <img src='http://www.on-stjohn.com/wp-includes/images/smilies/icon_smile.gif' alt=':-)' class='wp-smiley' />
</p>
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