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JPFCO

JPFCO REAL ESTATE BUZZ

Feb 15, 2012       Issue: 212

J Pepper Frazier Company
Snowy Tom Nevers Beach Stairs
 
 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
 

NANTUCKET REAL ESTATE BUZZ
  Splish-splACK, what’s happening in bACKyards…

Pools have longtime been staples of many vacation areas, but on Nantucket they were a rarity (in fact, my dad tells me that my grandmother had one of the first pools on Nantucket at 141 Main Street, which is ironic because pools are now banned in the Old Historic District.) However, recently, permits for new pools have been on a tear. There are approximately 300 pools on Nantucket. In 2010 and 2011, there were approximately 30 new pool permits pulled per year. So, basically, 20% of the total pools on Island were built in the last two years-that’s amazing…

Why such an explosion? A couple of main reasons, 1) they are very refreshing after a long day at the beach and 2) demand by tenants for pools has made rental rates for properties with pools go up drastically, sometimes 100%. So, many investors are now able to justify owning a Nantucket property as a rental property (who wouldn’t want to justify owning a Nantucket property?!) that can actually cash flow because of the extremely low interest rates, i.e. low cost to carry, and the big rental rates, if all they have to do is install a pool. 17 Boulevarde is a great example of this. Also, the developers of many of the new spec. projects pulled permits for new pools; is the increase in pool permits a sign of more spec. projects which is a sign of where the market’s going…
 
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RENTAL MARKET UPDATE
  Consecutive Rental Weeks

We are seeing fewer open options left for those renters who want extended summer vacations. If you are lucky enough to plan 2 or more summer weeks, your booking time should be NOW! At this point, many houses have been rented during the July 4th week, and the first two weeks of August. These popular weeks break up the schedule of houses where longer time frames might have been available. The best options for those who want longer stays are to contact JPFCO right away. Also, those wanting longer stays should consider the possibility of June/July or after the first two August weeks. Another possibility would be to consider breaking up a stay into two different locations. Tenants have been known to do 1/2 of a long stay on one side of the island, and the other half in a town location for different island experiences.
 
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FEATURED AGENT
Jennifer Frazier and husband Dalton T. Frazier

Jennifer's favorite thing about the Nantucket is coming home to it! She says, "I get a wonderful content feeling whenever I come home either via plane or ferry, and inhale the island smells and hear the sounds of the ocean."

Jennifer's Nantucket Island Quick Tips:
Choice restaurant: Probably the many varieties of take-out we get on summer evenings. We like to eat on our Zodiac as we cruise around the harbor in a slow gear, returning all of our work calls from our remote watery office, otherwise known as the "GTR" ie Gone to Record.
Best quick lunch: Pulled Pork Mini Sandwiches at The Westmoor Club Bar
Most frequented beach: Cliffside
Beloved Nantucket summer activity: Biking to Sconset early on a Sunday morning, after I successfully checked in many tenants the prior afternoon/evening.
Fishing Hole: Somewhere in Polpis Harbor down near Wauwinet, I usually have my head in a book, but I know Dalton loves catching fish there, and I love checking out the waterfront real estate. PS- Only attempt if your boat can handle shallow water!
Last Call: Nantucket Yacht Club
Nantucket real estate tip: Spend enough time exploring different neighborhoods of the island to determine which piece of "The Rock" is best for you, but always keep in mind your first house does not necessarily have to be your last house. Trust your instincts!
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NANTUCKET REAL ESTATE NEWSWIRE
» Nantucket to Logan Jet Blue Flights
» Steamship Fast Ferry Runs Aground
» Cru Oyster Bar Opening on Nantucket
 

NOTES FROM PEPPER THE ELDER
  Firpologists

Only one correct answer. Firpo Marberry. And once again proffered by a real estate broke. Even my brother, who considers himself a board certified Firpologist, got it wrong. What strong bond did Duke Snider and Pete Roselle share? On this small island of Boca Grande there are, by my count, 19 properties under contract and a total of 17 vacant parcels for sale, only one of which is on The Gulf. I consider those pretty strong numbers. Good real estate remains scarce and a good buy if you can find it. I mean look at the real interest rates. They're down right ridiculous. They won't stay that way and who the hell knows what's going on with the stock market. So, once again, I say get your mitts on tangibles, and I mean it. Gold is for insurance and protection and real estate is for protection and income.

The word of the day is Buy. Hoarding dollars is too risky.
 
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