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Island Homes for Sale at Fire Sale Prices (just not here in Minnesota)

The good news is, yes, you read that headline correctly: there are drop-dead gorgeous oceanfront island vacation homes on sale for you right now—this summer! The bad news, however, (depending on your vacation and travel plans) is that these homes for sale aren’t as convenient (geographically speaking) as some others.

They are in Greece. There’s always a catch, isn’t there?

CNNmoney’s website reported last week that the recent escalation in Greece’s financial trouble has produced a notable increase of interest from foreign investors.  Reports indicate that prices are discounted anywhere from 30% in the most popular islands to as much as 50% in less relaxing places. Like Athens.

Alexandros Moulas, who is an Athens-based associate at the global property firm Savills, says that buyers are mostly from Europe, but also the Middle East and Asia. So why not add Minnesota and Wisconsin buyers to the pack? We like vacation homes, too!

There are reasons why Minnesota and Wisconsin locals might consider a Greek investment property, aside from the travel benefits. A Greek island home, for example, can be a nice earner. Rental incomes are attractive—but it’s wise to keep in mind that islands like Mykonos are incredibly seasonal, grinding to a complete halt each winter.

The truth is, I can’t actually sell a single one of these stunning, bargain-priced Greek island homes to you.  As a licensed real estate agent here in Minnesota and Wisconsin, I am an expert in local homes for sale, and – while a trip to Mykonos sounds fantastic, the homes for sale here in MN and WI need me here this summer.

So while there might not be any oceanfront homes for sale in in these parts at a 30% – 50% discount, there are a great many welcoming area homes for sale this summer—and interest rates are still, for the moment at least, temptingly low.  Call me anytime this summer to discuss your search!