Nantucket Island Massachusetts Directory of Real Estate Resources

Bernanke says, “Slow growth, not a recession”. Encouraging.

From the looks of the property transfers last week, it appears 2008 is off to a strong start. See property transfers below courtesy of the “Nantucket Independent”.

Dalton

PROPERTY TRANSFERS
Jan. 7, 2008 ~ Jan. 11, 2008

1. A house on 2.1 acres at 71 Pocomo Road sold to Waypoint, LLC, of
Newtown Square, Pa. from John R. Schwanbeck and R. Penelope Scheerer,
Trustees of 71 Pocomo Road Realty Trust of Nantucket, Mass. for
$8,600,000. The property is assessed at $7,947,500. The land bank fee
is $172,000.

2. A house on .45 of an acre at 64 Hulbert Ave. sold to HA Acquisition,
LLC, of London SW1VZNS, England from Sunset Realty Limited Partnership
of Rowayton, Conn. for $8,000,000. The property is assessed at
$4,819,100. …

J Pepper Frazier Company is pleased to announce it’s newest, exclusive listing. 6 Pochick Avenue is a quintessential Nantucket property. The luxury house, cottage and self-cleaning pool are sited on over an acre of well manicured property. Just a quick jaunt down the Surfside bike path to the beach and only 3 miles to Town. The property has not been rented, but would be an amazing rental property or your summer retreat where special Nantucket memories are made. Asking price $3.45M. Please contact us for more info.

Another major theme at the Inman real estate conference was the trend of real estate advertisements going paperless and the relationship between the web and the consumer.

The President of Century 21 Canada said that as of 2008, 95% of their advertisements will be paperless (i.e. no print media) and most of their advertising dollars are going towards the web.

That is amazing. A rep. of the National Association of Realtors said that 95% of all buyers’ searches begin on the web and that number is steadily closing the gap on the remaining 5%-another amazing stat.

The web is bringing transparency to the consumer. The transparency helps the broker do a better job for …

I just got back from the Inman Real Estate Conference in NYC and learned a ton.

All in all, people think there will still be pain in most real estate markets. However, there was also a majority consensus that areas like Nantucket, the Hamptons and Manhattan are well insulated markets that are very resilient and will for the most part be unscathed. This is particularly true of Nantucket (and Manhattan less so) because there is a finite supply of land.

To understand why the Nantucket market is so resilient to downward pressures in the national real market think of this:

There is a finite supply of land that is constantly decreasing (mainly because of the …

Pepper and Angel Married in Costa Rica

Pepper and Angel were married on January 31, 2007 in Montezuma,Costa Rica amongst 60 friends and family.

Pepper and Angel have travelled extensively throughout Costa Rica and discovered a wonderful resort on the Nicoya Penninsula: Ylang Ylang Beach Resort, a brand new small boutique environmentally friendly hotel and yoga retreat with five star cuisine perfect for a destination wedding on the beach.

Everyone had a wonderful time, surfing, swimming, lounging, ATVing, zip-lining, and wining and dining for 10 days in a tropical paradise filled with monkeys, turtles and lots of other natural habitat and vegitation.

Pepper and Angel honeymooned in Ambergries Key, Belize, and have now returned to Nantucket.

the Nantucket Land Council has raised the last of the $14 million it needs to purchase the development rights to 270 acres of environmentally-sensitive Eel Point land owned by Linda Loring.

Read the full article

According to the Nantucket Independent:

“Despite the real estate slowdown on Nantucket this year, development of the island showed no signs of slowing.

As Nantucket is largely insulated from mainland economic trends, island-specific factors may have had certain minor impacts on Nantucket’s development picture this year. “

Read Full Article: on Housing Development on Nantucket

After six years of dating Dalton and Jennifer finally tied the knot in Boca Grande, Florida (often called ‘Sconset of the South) on 11/5/05 before 165 friends and family.

It was a week long festivity that will be repeated in the summer of 2007 when brother Pepper gets married!

Pepper II is marrying Angel Conrad. She has lived on Nantucket her entire life and owns a local business.

Todd Sinai, associate professor of real estate at the Wharton School at the University of Pennsylvania, derides bubble theorists as “Chicken Littles.” His article, “Bubble trouble? Not likely,” published Sept. 19 in the Wall Street Journal, explains research that he and co-author Chris Mayer conducted. While acknowledging “rampant growth” in real estate, they looked at the annual cost of owning a house – one’s outlay for mortgage payments, fees, maintenance and the like, minus benefits like interest deductions and depreciation. If you close your eyes to the huge price tags and concentrate on those annual costs, then prices have stayed pretty reasonable …