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JPFCO

JPFCO REAL ESTATE BUZZ

May 15, 2011       Issue: 192

J Pepper Frazier Company
Foggy Nantucket Views
 
 New Listings VIEW ALL

Jul 26, 2017

Cliff
$5,975,000

Jul 26, 2017

Town
$4,945,000

Jul 25, 2017

Town
$2,495,000

Jul 25, 2017

Town
$895,000
 
 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
 

REAL ESTATE BUZZ
  Real Estate Auction

To a layman looking on at a real estate auction, it seems straight forward-a bidder has the max she will bid, she’ll go back and forth with other bidders until a) she is tapped out or b) she wins the auction. Au contrair mon ami. Auctions have a lot more to them than meets the eye. They are dynamic and to be successful one has to understand many factors, including, but not limited to, the time, place and weather (are we on Nantucket on a cold May day with 50 mph gusts when the boats aren’t running or are we at the Copley Place, 68 degrees with a cold drink and plenty of space in the parking garage), the players (are there builders and/or bankers bidding) and the motivation (is WaMu foreclosing and happy with 30 cents on the dollar or a private developer and happy with 110 cents on the dollar).

Answering these as well as other underlying questions will help you put together a winning strategy. Another reason why a good broker is invaluable and worth well over 6%. Bonne chance mes amis!!!
 
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RENTAL BUZZ
  Nantucket Improvements

JPFCO is always recommending rental home improvements. That being said, here are some island improvements for Renters and Home Owners alike.

Cliff Road bike path, this new bike path extends from Tuppancy Links to Sheruburne Turnpike and passes right by the main entrance to the Westmoor swim and tennis club is slated to be finished by Memorial day.

The Nantucket Disc Golf course will become a reality some time this fall in the State Forest off Old South Road. Disc golf is a lot like traditional "ball" golf, except players use specially made plastic flying discs instead of balls and clubs, and throw them for 'par' at an above-ground target instead of a hole in the ground. This will be a healthy, inexpensive, family-friendly entertainment alternative.

New business Nantucket Bike Tours. With years of experience and a love of Nantucket, these tour guides will pedal you to the hard to find spots around the island and recount the great tales from past and present. This business is just launched by a local couple with a love of our island and bikes!
    Nantucket Bike Tours  
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NANTUCKET REAL ESTATE NEWSWIRE
 

NOTES FROM PEPPER THE ELDER
  Quality and Hard Assets

There's no question, this is a time of uncertainty. As Sam LeFrak infamously said: Lefrak's Golden Rule-those with the gold make the rules. Well he might be right, but, nonetheless, he came up from nothing and came to amass a vast fortune, most notably Co-op Village, just outside of Manhattan (strains of 'My Old Kentucky Home', if you will). So what's the point? I was afraid you were going to ask. Actually, it goes back to my harping point. Quality and hard assets. They are intertwined. Hard assets, to wit: real estate, are relatively worthless, unless they are quality assets. As a quick example: just off the Island of Boca Grande there are a plenitude of condominiums for sale, with signs that blare 'Was sold for $795,00, now $199,000.' So what? A lousy project is a lousy project. If nobody wants to live there, the price may as well be $66,000. In the real estate game, location does not bow down to anyone. And my friends, Nantucket is a synonym for location, as in good. Much like 'Good Humor.'
 
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