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JPFCO

JPFCO REAL ESTATE BUZZ

Mar 15, 2012       Issue: 215

J Pepper Frazier Company
View of a Nantucket Morning from Cape Air Seat
 
 New Listings VIEW ALL

Jul 26, 2017

Cliff
$5,975,000

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
 

NANTUCKET REAL ESTATE BUZZ
To Build or Not to Build

Seems to me that bids are firming up, so if you are thinking of building, now may be the time before there are significant upticks. I do not have any hard evidence to support that thought, but I do have empirical evidence. One example, the other day I talked with a plumber about a huge job that he is plumbing. The project has been going on for three years. The owner has been building the house in stages, then stopping for a few months, then asking everyone to re-bid their respective jobs, expecting the bids to go down from the previous bids as the world became closer to imploding. The owner's system worked as the contractors became evermore desperate to hang onto their jobs, until recently. The plumber said, with a big grin, "The last time the homeowner asked everyone to re-bid a month ago, all the bids came back 15% or more higher than the previous bids." This could be more of an example of a revolt and not of an uptick in bid prices, so another example. I talked with a builder the other day and asked, "How's business?" He said verbatim, "I have never been this busy. There are not enough workers for the amount of work out there."

Drive around the island and there are building projects going on everywhere. How about some of the new developments:
-Gingy Lane
-Pilgrim Place
-Olde Westmoor Farm Road
-Finback Lane
-Hydrangea Lane
-Blackfish Lane
-Ellen’s Way
-Nanahumacke

Whoa!!!
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RENTAL MARKET UPDATE
  Timing

Rental weeks are often about timing. Besides finalizing plans early and booking ferry tickets, there is event timing, corresponding your week/s on the rock with the Nantucket Film Festival (6-20 through 6-24) timing the fireworks (7-4-2012), or the Boston Pops (8-11-2012). We hear over and over again, "I want to be there for this event or that one." Nantucket's April through December are packed full of fun activities, that people enjoy coming to year after year, and they often book up many months in advance.

If you don't have a favorite event yet, please visit our website for a complete list of dated events for your Nantucket vacation, and give your favorite JPFCO rental Agent a call.
    List of Nantucket Events  
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FEATURED AGENT
Featured Agent, Suzi Spring and Griffin

Suzi feels that Nantucket is a magical place unlike any other. There are so many reasons why she loves this "far away spit of land 30 miles out to sea." She and her dog, Griffin, take adventurous long walks down dirt roads and seldom seen paths. She loves that the hills and moors are dramatic with daily changes in color and light. She enjoys the fact that all the beaches are free and 50% of Nantucket's natural beauty is safely in conservation for future generations to treasure.

Choice restaurant: Lola 41
Best quick lunch: Walters
Most frequented beach: Lady's Beach
Beloved Nantucket summer activity: Tennis, Golf, Sailing, Picnicing on Coatue
Fishing Hole: Great Point Rip
Last Call: The Club Car
Nantucket Real Estate Tip: Find a HAPPY real estate agent…one who engages with clients and enjoys her job. I enjoy meeting new buyers, creating lasting friendships, and especially love the happiness I bring to new homeowners! With my knowledge and expertise I work magic while enlightening newcomers to the wonders of our island life.
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NANTUCKET REAL ESTATE NEWSWIRE
» Nantucket Film Festival
» New Nantucket Restaurants
» Mitchell's Book Corner and Bookworks
 

NOTES FROM PEPPER THE ELDER
  Thinking Caps

Well, well. Something very strange, indeed did happen on the way to the Forum. Barrons came out with the twenty best values in U.S. high -end vacation spots. The usual suspects were there: The Vineyard, Vail, Maui, etc. But guess what? Zut alors. No Nantucket. Why you might ask, and I don't blame you; however a slight adjustment (preferably without wrenches) of the Old Thinking Cap, and the reason is quite simple. Nantucket didn't get as hammered as the Hamptons of the world did, and therefore the prices didn't lose 50% Or so of their price tags creating what Barrons feels are good/great present day values. Don't take off the cap just yet and keep this in mind. If properties (The Vineyard) decline by 50%, they have to go up 100% just to break even. Think about it. Without question the most common objective of an investor is stability and appreciation. And that objective, my friends, is called Nantucket. Okay you can take off the O.T.C's now.

Answer to last quiz: Sandy Koufax. I'll make this on easy on you again: What is Sandy Koufax's real name and why did he change it? No, he was not born Fred Merkel.
 
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