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Feb 1, 2012 Issue: 211
Snowy Sankaty |
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A Bi-Monthly Newsletter About Nantucket Real Estate. |
| New Listings |
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| West of Town | $379,000 |
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| Sconset | $1,525,000 |
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| Town | $2,689,000 |
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| Town | $1,250,000 |
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| Recently Sold |
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| Cliff | $1,350,000 |
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| Surfside | $737,500 |
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| Town | $2,338,000 |
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| Town | $1,195,000 |
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| NANTUCKET REAL ESTATE BUZZ |
What the Numbers Say....
As of today, there are:
-432 active listings compared to 435 one year ago.
-52 listings with accepted offers or purchase and sales agreements compared to 43 one year ago. Lower inventory, albeit not much, and more deals must be signs of an improving market.
There is also noticeably more activity on Island this winter than the past three or four winters. I do not have any hard facts to support that, but I do have an all-telling sign; the owner of one of the main fast-food places on the Strip told me that he has not been able to take a vacation this year because his place has been so busy and that his customers are primarily contractors.
Another sign of a strengthening Nantucket economy, my brother and I had one of our spaces on Centre Street become vacant on 1/1/12. We did a little advertising. 15+ inquiries and two weeks later, we signed a long-term lease. As long as we don’t have another major shock to the system, I think we’ll have a good year. |
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| RENTAL MARKET UPDATE |
Summer Activities
Many beloved Nantucket island activities start to accept reservations for the 2012 season as early as February. If you haven't already sorted out your rental house week, now is the time to get organized so you can start making your activities reservations. Some of the noted favorites include Boston Whaler usage through The Nantucket Boating Club, and numerous summer camp favorites.
There are surf camps, sailing camps, fishing camps, arts camps, and even acting camps. Get the kiddos fired up and contact your rental agent today! |
| Nantucket Boating Club |
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| FEATURED AGENT |
J Pepper Frazier II and wife Angel Frazier
Pepper II's favorite things about Nantucket are the amazing beaches and many fishing possibilities. Pepper lives in Surfside with his wife Angel, and three children, Felicity, Harper, and Pepper III. In his spare time he can be found trying to hook into big Stripers.
Pepper II's Island Quick Tips:
- Choice Restaurant: Galley
- Best Quick Lunch: Centre Street Take-Out
- Most Frequented Beach: Fishermans
- Beloved Nantucket summer activity: Strolling down the beach with the family at sunset
- Fishing Hole: Bigalows
- Last Call: 7 Plum backyard bonfire pit
- Nantucket Real Estate Tip: At JPFCO you may think you are working with one agent but really you are working with the JPFCO team. Trust the team and we will make it happen. |
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| NOTES FROM PEPPER THE ELDER |
Cheese Heads
I think I see a pattern here. Once again the correct answer, Sam Cooke, was proffered solely by real estate brokers. You know, the ones walking around wearing thinking caps. Yeah, somewhat like the Green Bay Packers' 'Cheese Heads.' Okay. I'm going to take off the kid gloves. Who was the first 'full time' relief pitcher?
And since we're on the subject of thinking caps. We were. Weren't we? The Feds announcement that they are not going to raise interest rates for at least a year, and probably two, means that we're going to keep churning out the ol' green backs. Time to be in commodities. Gold, silver, platinum, cheese heads and, of course, houses. The more desirable the better. The less likely it can be reproduced the more valuable. Put it this way. A house on Lincoln Circle will almost always be pricier than a house in a sub-division; similarly a Saint Gaudens' gold piece will always sell for more than the current spot price of spot gold. Think of Nantucket real estate as you would of the Saint-Gaudens' gold piece. They ain't making anymore and they're a hedge against the de-valuing of the dollar and accompanying inflation.
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