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JPFCO

JPFCO REAL ESTATE BUZZ

Mar 1, 2012       Issue: 213

J Pepper Frazier Company
Brewing Cisco Storms
 
 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
This Could be Good.

Let's see where the market is today compared to this time in 2010 and 2011.
At this time in 2010, there were:
-498 active listings
-36 listings with either an accepted offer or under contract
-23 closings YTD.

At this time in 2011, there were:
-435 active listings
-43 listings with either an accepted offer or under contract
-35 closings YTD.

Today, there are:
-427 active listings
-55 listings with either an accepted offer or under contract
-45 closings YTD.

I see a pattern…
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RENTAL MARKET UPDATE
  Flexibility

In rental terms is more about turnover day lately then price. Saturday ferry tickets are for the most part taken, so Tenants are forced to decide between renting a car, or trying to find a house that will take them on an alternate start day. In the JPFCO systems approximately 15% of houses are listed for turnover days other then Saturday. This is a trend that is becoming more and more popular to accommodate Tenants and their cars in the wake of the ferry ticket sell out. JPFCO can make many house recommendations with Friday/Sunday turnovers if you find yourself in this house hunting dilemma. Give us a call today!
 
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FEATURED AGENT
Angel Frazier, husband Pepper II and children, Felicity, Harper, and Pepper III

Angel's favorite thing about Nantucket is strolling the pristine beaches. She loves watching the vibrant sunsets, feeling the misty ocean air, and living on an un-commercialized island. She gets a real sense of peace living on Nantucket and loves that the island is home to her family.

Angel's Nantucket Island Quick Tips:
Choice restaurant: Black Eyed Susan's
Best quick lunch: Centre Street Bistro
Most frequented beach: Fisherman's Beach of Surfside
Beloved Nantucket summer activity: Building castles, splashing in the waves and just enjoying the sun warmed sandy beaches with my family
Fishing Hole: 1st Point
Last Call: Sunset at Galley
Nantucket Real Estate Tip: The deals are out there, so Buyers need to be prepared to move quickly when their Agent sends out a hot listing.
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NANTUCKET REAL ESTATE NEWSWIRE
» Bartlett's gets $1 million for development rights
» Nantucket Travels
» Utilities Agree to Buy Cape Wind Power in Merger
 

NOTES FROM PEPPER THE ELDER
  Hammerin' Hank

Thirty two years ago I got into the Nantucket real estate business. I had one central theme: That Nantucket real estate was grossly underpriced. And I was right. By the way, I think it still is. Just take a look at some of the monstrosities in places like Vail and Lake Tahoe selling for $20-40,000,000. Truly ghastly buildings, in many cases on nondescript parcels of land. Well, I've been waiting for a long time to see Boca Grande property reach, what I feel is, fair market value. It may be finally happening. Sure the Boca Grande market is extremely active, but things are trading cheaply-the average price is probably around $1,500,000. Keep in mind, there is very little inventory. I live in a section that is inhabited by what, in the vernacular, are known as 'The Beachfronters.' In my twenty two years there have been only four arms' length transactions in this section, averaging about $4,000,000. I think that's about to change. My neighbor just put her house on the market for $12,000,000. If she sells near asking price, the entire market will change. That's right, all it takes is just one sale. In these uncertain times, United States' luxury real estate is a great place to be. Keep in mind, we have yet to see the flight of foreign capital from the mess known as Europe. But we will. What happens if the Russians discover the Boca Grandes and Nantuckets of the world? They own about 50% of all the co-ops in the Plaza. For years we've been told 'The Russians are Coming' (originally The Off -Islanders). Bring 'em on.

Both Duke Snider and Pete Roselle were Compton High '41. Who said,' Sneaking a fastball by Hank Aaron is like trying to sneak dawn past a rooster.'?
 
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