Nantucket Island Massachusetts Directory of Real Estate Resources

By Steve Almasy CNN Wednesday, June 29, 2005

(CNN) — In 1994, most people had to call the bank to check their balances. Or inquire in person, or wait for a paper statement to arrive in the mail. Baseball box scores were found in the newspaper. Weather forecasts came over the phone from the weather bureau, or on TV. Back then, most Americans still had to lick a stamp to send mail. Then along came an experimental browser called Mosaic, followed by an improved browser from Netscape. And if you had a computer, you discovered a new way to this cool, new thing called the World Wide Web. According to the Pew Internet & American Life Project, fewer than one …

Rising mortgage rates could slow the soaring housing prices in Massachusetts, but a repeat of the price drop-off in the early 1990s is unlikely according to economists with the federal government.

A report from the Federal Deposit Insurance Corp. shows wide variation in the Massachusetts housing market with prices on Cape Cod more than doubling over the past five years — nearly twice the growth rate in the Springfield and Pittsfield areas.

The statewide average price rose nearly 72 percent from the first quarter of 2000 to this year’s first quarter, exceeding the nearly 51 percent growth for the nation as a whole.

The report also stated that a decline in housing prices is unlikely because supply is so tight. By contrast, in …

This rare parcel of property has recently come on the market for $7M and is an ideal opportunity for the right developer. There is no other property of this size available on Nantucket.

The property is on Millbrook road (off of Hummuck Pond road) and is near Bartlett’s farm and Cisco beach.

The property is 9 plus acres and is zoned R2, meaning it can be divided into 20,000 sq ft. lots. Each lot would require its own well and septic system. 2 areas of wetland have been identified on the periphery of the property. The property is rich in clay and the buyer is responsible for all surveys, perc test …

The $55 million deal between real estate investor Stephen Karp and Three Winthrop Properties, Inc. becomes final today. The Nantucket Independent reports Karp is hoping the company will accept his offer on more Nantucket parcels.

The process of closing Karp�€™s purchase of 48 retail properties, including Straight Wharf and Old South Wharf began on Monday. The makes Karp owner of the island�€™s largest commercial portfolio.

“We�€™re excited,” Karp said of the closing. “We think it�€™s a wonderful opportunity. We have a lot of confidence in Nantucket and the future of Nantucket.”

Karp said he has made another offer on a Sherburne Associates property package, which includes 21 Federal.

Only on Nantucket can someone drop $55 million and …

The global boom in house prices has been driven by two common factors: historically low interest rates have encouraged home buyers to borrow more money; and households have lost faith in equities after stockmarkets plunged, making property look attractive.

Will prices now fall, or simply flatten off? And in either case, what will be the consequences for economies around the globe?

This article about The global housing boom by the Economist explores this in greater detail.

Convicted Tyco chief L. Dennis Kozlowski’s oceanside mansion in Nantucket, where the king of lavish corporate spending hosted a $200,000 wedding for his daughter in 2003, has tripled in value since he bought it in 1997 for $5 million according to a what a top island real estate executive told the Herald.

It is a 7,000-square-foot Nantucket estate, on 3.8 seaside acres.

For now, Kozlowski holds title to one of Nantucket’s most valuable estates, known as Sea Rose Farm.

A similar property sold for $16 million recently, shattering an island price record.

And if the mansion won’t do the trick, Kozlowski might try to sell his beloved $25 million, 130-foot yacht, The Endeavor, at one time a regular summer feature …

There is a well written article in from the Nantucket Independent addressing how the island�€™s real estate market has risen, dipped and surged to new heights in over three decades.

�€œThe old-line Yankees aren�€™t as plentiful as they used to be,�€� said our own Pepper Frazier, Sr. �€œBostonians are still here, but the New York and Washington influence is being felt and there is a pretty good San Francisco group here, a lot of people who have made a lot of money. There doesn�€™t seem to be any signs of a slow down now. I�€™m becoming jaded �€” if [a property] is only $10 million I wonder why it�€™s so low.�€�

In Hammy Heard�€™s opinion, the island real estate market will …

To make a smart choice on a home mortgage, you need to know which fees to pay attention to and which costs to ignore until later.

Some lenders are more thorough than others when they estimate the fees and taxes involved in a transaction, making it confusing to comparison-shop.

taxes, title insurance and prepaid items — the online lenders in Bankrate’s survey are inconsistent, often incomplete and frequently inaccurate.

Get the basics on comparing closing costs from this article.

American Real Estate Partners announced today that a long standing legal dispute has been settled and the Company is now ready to proceed with its planned residential, commercial and recreational development.

The plan call for up to 450 homes at New Seabury, a premier seaside golf community located on Nantucket Sound in Cape Cod, Massachusetts.

So that means 450 new homes on the golf course only 20 minutes away from Nantucket (by plane).

Maybe Nantuckers who REALLY need to play golf (and can�€™t get tee times) will purchase a third or forth home here and make the short jaunt over whenever they want to tee it up.

Then again maybe not.

You can read the article from Yahoo! …

This year, last-minute renters are in luck in most destination resort areas.

Renters seem to be the beneficiaries of changing American vacation habits, quirks of weather and, in many resort areas, a swelling supply of luxury rental properties.

While real estate prices have shot up, rental prices have, for the most part, held steady from Cape Cod to Lake Tahoe.

Prices have been pretty much flat,” says Krae Van Sickle, a broker with Allan Schneider Associates in the Hamptons.

But last-minute bargains are also, for the most part, rare. And some of the best properties will be gone by the time the season begins.

The summer-rental market is a fragmented one, dependent on local conditions and fashions–the cold weather …