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JPFCO

JPFCO REAL ESTATE BUZZ

Apr 15, 2012       Issue: 218

J Pepper Frazier Company
Getting ready for Daffodil Festival in the Frazier Family Sprite
 
 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
 

NANTUCKET REAL ESTATE BUZZ
  High-end to the rescue?

Beyond hard statistics like time on the market, inventory levels, and properties under agreement, which are all improving, there is another, subtle sign that the market is improving-the high-end is heating up. In the last two weeks, there have been two high-end sales, 18 Rabbit Run Road for $7,000,000 and 59 Shawkemo Road for $7,747,500, and two high-end properties went under contract, 4 Salt Marsh Road, listed at $6,500,000, and 183 Polpis Road, listed at $9,850,000. This may not seem like much of a sign, but the high-end has led the market out of the bust cycle many times before. Think of successful fund managers; other managers mimic the successful managers’ moves because the successful managers are successful for a reason-they make smart investments. Buyers who can afford high-end properties typically can afford them for a reason-they make smart investments. Does anyone remember what happened when Lou Gerstner bought 10 and 17 Berkeley Avenue in 2003?!
 
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RENTAL MARKET UPDATE
  Seasonal Housing

Weekly rentals are the bulk of the JPFCO rental leases, but we do do some long, generally higher end seasonals. We just recently wrapped up a nice one in the Surfside area for $35k, and one in a beautiful Wauwinet spot for $43k/season. This being said, we are noticing a huge trend in the less expensive seasonals - the trend being that there are essentially none left. The influx of seasonal workers for the 2012 season has really been in droves, probably to prepare for the exciting uptick in rental bookings. Generally by mid-April there are still a few less desirable options, but the word on the rental street is that the workers are now begging for double occupancy rooms in the $500-$1k per month range.

So overall, JPFCO is expecting an exciting (and busy!) 2012 season. If you haven't booked your week yet, call your favorite JPFCO Agent and come be a part of the fun!
 
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FEATURED AGENT
Featured Agent, Roy Weedon and a black sea bass

Roy's favorite thing about Nantucket is that it is 30 miles out to sea.

Choice restaurant: The Boarding House
Best quick lunch: Bartlett Farm with takeout to the Brewery
Most frequented beach: Fisherman's (Surfside)
Beloved Nantucket summer activity: First light fishing at Great Point, Retriever training with his Lab at Sesachacha Pond, Sailing Indians with his daughters, Sunset drinks at The Galley with his wife.
Fishing Hole: The Wreck
Last Call: The Summer House
Nantucket real estate tip: Rent before you buy. Pick the right location and then the house. When you are ready to purchase: move fast and hit hard. Find an agent who has the time to concentrate on YOU and not just the sale.
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NANTUCKET REAL ESTATE NEWSWIRE
» New Nantucket Businesses
» Building Surges
» Island Songwriter releases new CD
 

NOTES FROM PEPPER THE ELDER
  Moon 'Risin'

Off to Bermuda. Don't know what the state of affairs is in the real estate world, but I'll find out. Could be some trouble brewing out there. A Bad Moon 'Risin,' as it were. Bermuda has been in the wrong hands for some time. The super corrupt Labor Party headed by Prime Minister Ewart Brown whereabouts unknown, and last seen with his pantaloons stuffed with doubloons. Things got so bad that they tried to pass a law requiring all foreign companies to hire a certain percentage, a healthy percentage, of Bermudians. The companies, primarily engaged in re-insurance, which along with tourism, are the life blood of the Country. The re-insurance companies simply said, 'we'll go find another island.' That ended that prater. We're not talking third world here. Bermuda has the highest per capita income on the world. When my wife was growing up here Bermuda was about 60% white and 40% non. Today it's about 70% non. But that may all change. There is a new party that is pro growth, pro commerce and pro tourism and its got a real chance of winning. Let's hope they win and remove the bad moon. So, wish Bermuda luck, and be happy that you can enjoy the tranquility of Nantucket.

Stewart Granger was born James Stewart and since Hollywood already had one of those his studio made him change his name. What happened between Alexanda Zuck and Robert Walden Cassotto? Extra Credit. Who is 'King of the Surf Guitar and what surfing haven was he born in?.
 
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