Investment author puts St. John in new book
St. John will get some attention in a forthcoming book by author Steve Bergsman, whose recent books include ”Maverick Real Estate Investing.” Steve, pictured here on the hunt for fixer-upper bargains on American Samoa, is writing a new book titled “Passport to Exotic Real Estate” about vacation home investments. Bergsman recently spent some time on St. John and says he was impressed with the island’s real estate offerings… and not surprised by the downturn in the real estate market on St. John.
“I suspect there will be weakness in St. John for another year or two,” he tells On-StJohn.com. “But great locations like St. John tend to get discovered all over again and prices start to appreciate in another round.” Bergsman, who says being a U.S. territory is what attracted hoards of investors to St. John after 2001, expects some discounting by St. John sellers in the near term, but says, “even if prices come down a bit, St. John is still not a cheap second home market.”
Bergman’s new book, which he says will include a chapter on the Virgin Islands and a section on St. John, is scheduled to be published in Spring 2008.
