Nantucket Island Massachusetts Directory of Real Estate Resources

Archive for June, 2005

The internet transforms modern life

Thursday, June 30th, 2005

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, [...]

Economists say Massachusetts Real Estate not expected to drop

Tuesday, June 28th, 2005

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 [...]

Buildable acres of land on Nantucket for sale

Monday, June 27th, 2005

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 [...]

Karp a Done Deal at $55 million

Wednesday, June 22nd, 2005

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 [...]

The Economist Talks Real Estate

Monday, June 20th, 2005

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 [...]

Kozlowski’s Nantucket Estate Valued at $15 million

Monday, June 20th, 2005

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 Market at Unprecedented Highs

Thursday, June 16th, 2005

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 [...]

Compare Closing Costs on Mortgages

Wednesday, June 15th, 2005

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 [...]

New Seabury Gets Go Ahead with 450 new homes

Monday, June 13th, 2005

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 [...]

Last Minute Vacation Rentals

Monday, June 13th, 2005

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 [...]