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JPFCO

Tree Decorating: Nantucket to the North Pole

Dec 1, 2011       Issue: 207

J Pepper Frazier Company
A Bi-Monthly 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
  Got Land?

Not for long because the conservation groups are buying it all up, but that is great for all of us who love Nantucket (and like our property values to go up)! Nantucket has some of the strongest conservation foundations/efforts in the world. A group of great Nantucketers had the foresight to found the Nantucket Conservation Foundation in 1963-58 years ago! The Nantucket Islands Land Bank was the first program of its kind in the country, established by a special act of the Massachusetts Legislature and voted on at Town Meeting to essentially impose a 2% tax on every arm’s length real estate transaction-final vote, Yes: 446, No: 1. That is simply amazing, 446-1, to impose a tax! There are at least eight other legitimate, conservation focused groups on Island. Much of the conservation land is open for passive, recreational use, so if you get tired of eating at the world class restaurants, shopping at the world class shops, bathing at the world class beaches, then you can always go for a walk through the Tupancy Links, Sanford Farm, Middle Moors and on and on…

Recently, the Land Bank put under agreement a 66 acre parcel and the Sconset Trust put under agreement an abutting 53 acre parcel, which combined could be sub-divided into well over 50 building lots. So, although paying the 2% Land Bank tax can be painful in the moment, remember that tax is probably going to give you well over a 2% return in the long run. Nantucketers, seasonal and year-round, were and still are a smart bunch. Must be the water…
 
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RENTAL BUZZ
  Gentle Reminders

Did you remember to:
Drain the irrigation and outdoor shower?
Store the patio furniture?
Change light bulbs?
Buy new mattress pads?
Change batteries in smoke alarms and TV remotes?
Wash down beach chairs, and put everything away for the season?

Get ready for 2012!
 
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NANTUCKET REAL ESTATE NEWSWIRE
 

NOTES FROM PEPPER THE ELDER
  Mr. Foto

Boy. Tempus Fugit. Another Stroll. Winter three weeks away and a brand new calendar in a month. Where did it go? But as Satchel Paige said, 'Age is a question of mind over matter. If you don't mind, it don't matter.' I tried my best to correlate Nantucket with a partridge and a pear tree, but I couldn't pull it off. I mean Nantucket does have partridges and it does have pear trees, replete with pears . In fact I saw one (a Pear that is) on Orange Street the other day, but nonetheless, I couldn't tie it all together. Back to real estate and a case of 'Man Bites Dog.' Condominium sales in Miami are up approximately 50% from the lows of 2009. Nationally, building permits fell by 517,000, the lowest level since data was first collected in 1959. So, guess what? Demand is catching up to supply or, if you will, supply is catching up to demand. And quickly. So sell those autographed pictures of Mr. Ed, Mr. Sid, Mr. Tux, Mr. Foto and Don Ameche (do all five have mustaches?) Sell those Pumpsie Green and Mario Mendoza baseball cards and put that money to work buying Nantucket real estate, where supply rarely outstrips demand. Why did I capitalize Pear? I'll explain that later. How about a death cage tag team wrestling match featuring the Mr. menagerie? My money is on Ed and Sid. Now back to work. 'Three turtle doves...' info@theandovershop.com or dknott@bloomberg.net
 
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