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| ISLAND HAPPENINGS |
Who Keeps Nantucket Clean?
It is due in part to the island Clean Team; a group of 360 Volunteers aged from Toddler to Octogenarian. In the past 7 summers, this dedicated group has picked up more than 1,000 bags of trash totaling over 40 tons. The team voluntarily picks up trash Saturday mornings. Armed with rubber gloves, recycling, and trash bags, they roam approx. 1/2 mile from their assigned location.This quiet and caring group exists to take care of our fragile island, and for that, we are all grateful. |
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| REAL ESTATE BUZZ |
Is it still possible to purchase a stellar income producer?
Yes! For example, if you purchase a property in a sought after rental neighborhood for $1,300,000, you obtain a loan for 60% of the purchase price, $780,000, at 5.875%, your average monthly payments would be approximately $5,000 including taxes and insurance. If you net $50,000 in rental income, which is possible if you have great amenities such as central A/C, flat screen TV's, new bedding, and furniture, then you can come very close to covering the mortgage and annual expenses. There are several properties currently on the market that do fit this potential scenario. Keep in mind that organizing and booking the amount of rentals to account for netting $50,000 in income can be very time consuming, but at the same time can be very rewarding and a wise investment move.... |
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| RENTAL BUZZ |
Fabulous Sconset Rental
Brand new three bedroom in Sconset. 12 Lincoln Street is a wonderful rental property currently available almost all season. Central A/C, 2300 sq ft of living area, and a gourmet kitchen are just a few of the many extras. The property is located on Lincoln Street, a short distance to the beach, the village, and the tennis courts! $6000 a week. |
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| NOTES FROM PEPPER THE ELDER |
Safe Bets
Well the stock market has been steaming ahead recently. The Dow Jones is up almost 4,000 points from its low on heavy volume. The Dow Jones represents conservative, mostly old-line companies, like Alcoa, Caterpillar and Boeing. Companies that, generally speaking, pay dividends. People are going for the secure, less speculative stocks. On the other hand, The Russell 2000, which represents small to mid caps, more speculative, non-dividend paying stocks has seen its volume shrinking. This shows that people are looking for security and a hedge against inflation. This also explains the surge in gold, copper, silver, platinum and to some extent farm land. Of all these options, and I must admit that I am somewhat of a Gold Bug, real estate is the only one that lets you derive both income and pleasure from it. Kind of a No Brainer. |
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