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JPFCO

JPFCO REAL ESTATE BUZZ

Oct 15, 2011       Issue: 204

J Pepper Frazier Company
A peaceful morning in Quidnet
 
 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
Sales Transactions and $ Volume

Sales transactions year to date are about the same as transaction numbers for 2010. Exactly the same to be precise-253 transactions so far. What isn't the same at all is the $ volume. Below are 2010 numbers versus 2011.

In the $20 million + range there were 3 transactions in 2010, none in 2011.
In the $10-$20 million range there were 5 transactions in 2010, and 1 in 2011.
In the $5-$10 million range there were 11 transactions in 2010, and 9 in 2011.
Approximately 1/2 of all 2011 transactions have been under the $1 million mark.

These big ticket sales that so far, are missing from the 2011 picture are skewing the total sales volume number, but actual transactions are holding steady to 2010 numbers.
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RENTAL BUZZ
  The Small Things Do Matter

Imagine waking up on your first day of vacation in your beautiful Nantucket rental house and going to cook your eggs that you purchased on the grocery run at the Stop n Shop on arrival day. This is your routine, how you start your morning, the best part of your day, your eggs. You grab for the frying pan and realize that this particular frying pan has seen more then it's fair share of eggs, and forks, and knives that have ripped the Teflon, and not enough dish soap. Tenants remember these small things that ruin their breakfasts in your rental home. They remember the stained coffee cups, the empty gas grill, the burned out lightbulbs, and the old mattress pads.

Take the time now to work on these little things that might prohibit repeat business, most of these fixes are in the $20-$30 range.
 
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NANTUCKET REAL ESTATE NEWSWIRE
 

NOTES FROM PEPPER THE ELDER
  Snort. Snort.

Today we're going to talk about two rich guys. Two very rich guys. One I like. One I don't. The affable looking one, Warren Buffet, is the one I don't like. The very stern, non-humorous looking one, John Malone, is the one I like. Such is life. Aside from being rich, they have something else in common. They like wood. You know timber, the stuff that grows in forests. Timber has been pretty well beaten up by the construction down turn, but it has a very unusual quality: the longer it remains unharvested, the more valuable it gets. The bigger the tree, the bigger the yield. Buffet, who to me, is a paragon of contradictions, doesn't generally like commodities because they don't pay a yield (dividend). But he views the maturation process of wood as a yield. Malone is buying forests. In fact, he has surpassed Ted Turner as the largest owner of land in the U.S. Oddly enough, both men owned all or part of the Atlanta Braves. Malone particularly likes lumber because he believes the government can't manipulate it. I hope he's correct.

Why do I like Malone? Any man who travels around in a RV with 7 pugs is my kind of guy. He must be a sound sleeper: Snort. Snort. Obviously, I think wood and Nantucket houses, are both commodities worth owning. Both giving yields in different ways.
 
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