Nantucket Island Massachusetts Directory of Real Estate Resources » Real Estate for Sale

How’s the interior?

Dalton — Tue, 15 Nov 2011 00:22:14 +0000

I grew up in a real estate family. I have been hearing real estate deals being negotiated since I was 3 months young. Sometimes I would hear my mom say, “How’d the third showing with so and so go?” My dad would say, “Libby, it’s never a good sign if they want to see the property for a third time. They are only talking themselves out of doing the deal; they are looking for excuses not to buy it.” Very ironic, too, because you tell your clients you have a third showing and they get excited that the buyers are going to make an offer, but, in reality, the opposite is happening-the buyers are talking their way out of the deal. Now that I am active in the real estate brokerage business, I see this phenomenon first hand; third + showings are the kiss of death. Most buyers that pull the trigger know it when they see it.

Last two properties my wife and I have bought, I made the offers before she had been to the properties. Naturally, she asked, “How’s the interior?” I replied, “Not sure, I haven’t been inside…”

Wait until you hear these Nantucket real estate numbers…

Dalton — Thu, 21 Apr 2011 01:11:00 +0000

Properties on the open market, 4/28/09, 602.
Properties on the open market, 4/18/10, 560.
Properties on the open market, 4/20/11, 482.

Properties under agreement, 4/28/09, 18.
Properties under agreement, 4/18/10, 32.
Properties under agreement, 4/20/11, 50.

I think I see a trend… Get in while the interest rates are still low!

A look at the Nantucket real estate market numbers

Dalton — Mon, 07 Mar 2011 10:13:28 +0000

As of March 6, 2011, there are:

435 active listings available
and
43 active listings that are under agreement

Out of the total (available and under agreement) active listings, 8.996% are under agreement. Only in September of 2010 has that percentage been higher, and only by a small fraction, in at least the last three years. That seems to be another clear indicator that the market has bottomed…

Short sales are still tough, but getting easier…

Dalton — Mon, 20 Dec 2010 18:29:24 +0000

J Pepper Frazier Company just successfully brokered and closed another short sale on Nantucket-70 Pochick Avenue. Although I was working on the deal for 6 months, once Chase assigned the case a negotiator, in the sixth month, I was actually able to communicate with someone and move the deal along smoothly, basically as a conventional deal. The lenders are finally putting set systems in place to process these short sales; Chase has a whole team of negotiators that will actually call you, Bank of America uses a system called Equator where one can actually see updates and get instructions for the next step, other lenders have their own processes. None of these systems are perfect, but they are a far cry from how the short sales used to be handled. When the short sales first started appearing on Nantucket, about two years ago, closing the deal was very hard because the lenders had no system in place to handle the deals and many times the property would end up going to foreclosure and be bought at auction for a lesser price than what was offered with the short sale-definitely not in the shareholders’ best interest… The last month of the 70 Pochick Ave. deal was refreshing to see that the lenders are finally stepping to the plate to get the short sales processed. We need the shorts sales and foreclosures out of the marketplace to get back to a healthy market-seems like we are getting closer…

Nantucket Real Estate Market continues to improve…

Dalton — Mon, 13 Dec 2010 19:57:56 +0000

In December 2008, there were 628 total properties listed and out of those, 17 had accepted offers or were under agreement, 2.7%. In December 2009, there were 630 total properties listed and out of those, 33 had accepted offers or were under agreement, 5.2%. In December 2010, there are 593 total properties listed and out of those, 25 have accepted offers and 29 are under agreement, 9.1%. So, the numbers, falling inventory and rising amount of deals, are clearly showing that the Nantucket real estate market is strengthening. Now could be the golden opportunity for buyers while the interest rates are still low and the market is at the bottom…

Another high-end Nantucket real estate deal…

Dalton — Tue, 26 Oct 2010 15:50:52 +0000

A magnificent 9.2 acre water front piece of vacant land in one of Nantucket’s most sought after locations, 0 Chase Links, just received an accepted offer. We won’t know at what price a deal is being made until the deal closes, but I bet it is within 15% of the asking price considering the property has only been on the market for 116 days. The Nantucket high-end real estate market remains strong…

$9.5MM price reduction!!!

Dalton — Mon, 14 Jun 2010 14:15:36 +0000

11 and 16 Cathcart Road located on Nantucket’s prestigious harborfront location just had a price reduction from $38.5MM to $29MM. The properties were originally priced at $55MM, which everyone knew was an astronomical asking price. Now, the Seller is getting into the realm of market value. Will update with any developments. Until next time Nantucket Real Estate enthusiasts… Dalton

13 Squam Road, Nantucket Sold!

Dalton — Fri, 11 Jun 2010 14:18:12 +0000

13 Squam Road closed yesterday for $12.75MM. The property has been on the market for over three years, originally starting at $19.95MM. Although the Buyer received a significant discount off the original asking price, it goes to show market stabilization, the bottom is forming and properties once again have a liquid value. Encouraging news for the Nantucket real estate market. Stay tuned Nantucket real estate enthusiasts! Dalton

Hot off the Nantucket Real Estate News Press

Dalton — Sun, 06 Jun 2010 12:46:50 +0000

Rumor has it that 13 Squam Road, located on Nantucket’s exclusive eastern shoreline, is under agreement for $13.07MM. It is a stunning piece of property with a house, guest house, swimming pool, tennis court and boardwalk to the beach. It originally started at $19.75MM, 3.5 years ago. Seems like a bottom is forming in the Nantucket real estate market. That’s it for now Nantucket real estate enthusiasts. Dalton

Buildable acres of land on Nantucket for sale

Greg Chotkowski — Tue, 28 Jun 2005 01:38:32 +0000

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 and EPA studies.

For a zoomable satellite image of the property goto Google maps. (the Google marker is close but not accurate for the true address of the property – overlay the image on this post and you are there).

For additional information view the listing.