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JPFCO

82 Degrees and Madequecham Beach Views

Jul 15, 2011       Issue: 196

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

Jul 26, 2017

Cliff
$5,975,000

Jul 25, 2017

Town
$2,495,000

Jul 25, 2017

Town
$895,000

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
 

REAL ESTATE BUZZ
State of the Market

We are off to a decent start of the main selling season. Currently, there are 39 pending deals ranging from a $245K (asking) piece of land to three lots sold as a package for $7.45MM (asking). There were 38 pending deals at this time last year, so basically the same amount of deals, but there were 682 active listings this time last year and there are currently 605 active listings. The trend continues, more deals in the pipeline and less inventory-strong signs of a bottom. We have not seen any monster deals yet, but just like the striped bass, the schoolies almost always come first… Happy fishing!
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RENTAL BUZZ
  Murder or a Sunburn

In this world of murder headlines, economy stress, and constant connectivity, Nantucket is a little slice of safety. This island is a spot where you can set some teenagers out on bikes and tell them to "go get lost" because in all probability that is the worst thing that will happen to them. Along the way they might get some wholesome exercise, make some nature discoveries, and find some new friends-all of which are way more exciting then the latest xbox game. If they ended up in Tom Nevers they wouldn't be able to call anyone, because cell phones just don't seem to work as well out there. There are moors to hike, surf to ride, and ponds to fish. We asked our intern what he was doing with his days and he said, "explore coatue, surf casting, and beach reading". He said it was a nice break from the busyness of school life. Nantucket is a haven of safety and community that make a rental week all the more relaxing. Come for the week, or a summer, and see that all there really is to worry about on this island is a sunburn and dinner reservations.
 
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NANTUCKET REAL ESTATE NEWSWIRE
 

NOTES FROM PEPPER THE ELDER
  Sandpapered Toes

Well, I'm at it again. Gold. It along with other 'hard' assets are about to go on a run that would make 'Ol Aurick Goldfinger proud. This printing of paper money, and not just by us, is insanity. What would you rather have? Some bars of bullion or a basement full of Euros (Dracmas), or a basement full of Europeans, for that matter. My first choice: Bullion. My second: Euros. Obviously my third: Europeans, because with all those pointed toes you can't fit that many down there. I think you should have a nice allocation of commodities and real estate, the higher the quality the better.

Recently A lady in Philadelphia, who after five years, just got into her late father's safe deposit box and much to her surprise found 10 unblemished, very rare, Double Eagles. At least I think they were Double Eagles. Now it was widely believed that FDR had melted down all these coins when he confiscated gold in the 30's. Her 10 coins’ street value? Are you sitting down? A cool $80 mil. So she took them to the mint to have them verified and wham bam alakazam, that's right, they confiscated them. Seems that the Feds had suspected for years that her jeweler father, with the rather nefarious name of Isreal Switt, had stolen them many years ago. There for the change of one consonant, her maiden name would have been Swift, which she clearly is not. Even if they had let her keep them, I'm sure they would have made her pay an estate tax. So buy the good stuff, and keep your head low. And don't forget to sandpaper those toes.
 
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