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JPFCO

JPFCO REAL ESTATE BUZZ

Oct 15, 2010       Issue: 171

J Pepper Frazier Company
A Bi-Weekly Newsletter About Nantucket Real Estate.
 
 New Listings VIEW ALL

Jul 26, 2017

Middle Moors
$1,995,000
 
 Recently Sold VIEW ALL 

Jun 22, 2017

Mid Island
$930,000

Jun 26, 2017

Town
$5,585,000

Jun 26, 2017

Cliff
$2,450,000

Jun 16, 2017

South of Town
$325,250
 

ISLAND HAPPENINGS
Nantucket Surf Scene

Nantucket has a well deserved reputation as one of New England’s top surfing destinations. The Island’s advantages have everything to do with geography. Its location off the southern coast of Cape Cod, places it nearest to the Gulf Stream and warm southern waters. Ocean storms, particularly hurricanes pushing north in the late summer and fall can bring truly awe-inspiring waves to Nantucket’s South Shore, waves with 12 foot faces are not uncommon. Surfing can be had anywhere along the South Shore from Madaket to Nobadeer although Cisco beach is a general favorite. Because of constantly changing conditions in terms of winds, tides and even the sandbars off the shore, the best spots are in constant motion. For experienced surfers the real season is late summer and fall. This is when offshore storms are most frequent and the water temperatures remain comfortable well into October. For islanders a hurricane or tropical storm cutting between Bermuda and the east coast is cause for celebration and waxing up their boards.
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REAL ESTATE BUZZ
  3rd Quarter Sales

The top five property transfers in September were 11 & 15 Cathcart for $27,500,000, 30 Easton Street for $15,000,000, 37 Squam Road for $13,500,000, 7 Heather Lane for $12,000,000, 18 Hinckley Lane for $6,950,000. These top five made for an extremely strong 3rd quarter sales volume. The total dollar volume for July 1st through September 30th was just under $202 million. Up 66% from last year's $122 million. September alone rang in just over $150 million in property sales. For the year, total dollar volume has reached $444.5 million, up 87% over the same period last year and on pace to be the highest since 2007. JPFCO attributes this surge in the market to more realistic home pricing, and increased consumer confidence.
 
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RENTAL BUZZ
  Rental House Fall Maintenance

It is officially fall on the island, Columbus Day is behind us, and we are seeing fewer visitors and rentals. Now is a great time to tend to some of the items that were overlooked during a busy summer. A few maintenance items that we heard about over the summer are as follows: change the A/C filters, check the smoke detector batteries, follow up on any internet/television issues. For bigger items that give great bang for the rental homeowner's buck, consider new white linens, a new coat of paint, or a new patio set. Please be sure to keep JPFCO informed of any new equipment additions, or remodels.
 
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NANTUCKET REAL ESTATE NEWSWIRE
 

NOTES FROM PEPPER THE ELDER
  Don Ameche

We find ourselves in Florence, which is not a bad place to find oneself. Although, not all that familiar with Italy, I love what I see and have seen. One caveat, however: The Euro is wrecking havoc. It is so bloody expensive over here; it's almost beyond comprehension. The European Union is, in my mind, an absolute disaster. You would think long and hard before you co-sign a note for your indigent half-brother, Phillipo and his slothful hanger-on Mangiatore. Would you not? Well, the Little (actually Big) engine that could, Germany has done precisely that. The Sovereign debt of Germany is tied to that of Greece and Ireland, for example. Idiocy? Non? A 20% VAT on virtually anything. No worries, mate. But I've had to curtail my Don Ameche jokes. Next Sicily, where I'm told they will take care of the Don Ameche jokes on their own. I get the picture.
 
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One of the oldest and most experienced nantucket real estate
JPFCO | 19 Centre Street Nantucket, MA 02554

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