This excerpt was taken directly from The New York Times article printed on Friday, November 23, 2007.
A Season of Long Summer Days
"In Lucy Maud Montgomery's classic, "Anne of Green Gables," which is set on Prince Edward Island in Canada, Anne says: "Look at that sea, girls - all silver and shadow and vision of things not seen. We couldn't enjoy its loveliness any more if we had millions of dollars and ropes of diamonds."
Thanks to a steady influx of buyers from the United States, Europe and points west in Canada, prices for such views are indeed approaching millions. Already, a handful of properties have sold at that level. But the good news is that oceanfront homes on white sand beaches or towering red clay bluffs priced at around $800,000 Canadian dollars (about $840,000 U.S. dollars) are still considered expensive. And smaller properties on the ocean can still be found for around $150,000 to $200,000 Canadian dollars.
Prince Edward Island is about 140 miles long and 40 miles wide. Through its season is short (June through September), the island, which is ringed with pristine shoreline, offers second-home owners long summer days, 26 golf courses, lush green countryside reminiscent of Scotland or Ireland, and an active arts scene. Add to this a new direct flight from Boston during the summer and you can almost see those ropes of diamonds.
Historically, most American buyers hailed from New England. But George Jordan, the owner of Red Soil Real Estate, said the Internet had changed that. "People from California and Colorado fly out to stay a couple of months or a few weeks." When not being used by owners, the houses are listed as weekly rentals.
Arguably, a weaker United States dollar and increase in gas prices should hurt the market, but Mr. Jordan remains optimistic. "Tourism was up this year, not down," he said. "How do you explain that?"
HOW MUCH: $805,875
WHAT: A 3-bedroom house
WHERE: Shore Road, Cable Head West
This six-year old house, recently sold for $767,500 Canadian dollars, is on approximately 11 ocean-front acres, with a low-bank beach and about 1,500 feet of shore front. The property is a 15-minute drive to the Links @ Crowbush Cove golf course, and minutes from Greenwich National Park, which has floating wooden walkways and some of the few parabolic dunes in North America. Charlottetown, the provincial capital, is about a 45 minute drive. Almost every room in the house has ocean and red bluff views. Banks of windows face north, east and west. A two-story stone fireplace is the focal point of the great room, which has vaulted ceilings.
There are three bathrooms, including two master suites, on on the main floor with a corner jetted tub, and one on the second floor with an ocean view sitting room. There is a loft area on the top floor that could be used as a fourth bedroom, and a detached garage. The property is on a public road with year-round access, and non-resident taxes are $5,217 Canadian dollars. Agent: Linda Anderson, Re/Max Charlottetown, (902) 393-4050; www.islandrealtorfromaway.ca"