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JPFCO

JPFCO REAL ESTATE BUZZ

Aug 1, 2012       Issue: 226

J Pepper Frazier Company
Photo from the Cancer Swim Across America, Nantucket
 
 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
Catch 22

Properties show best when they are vacant and in top notch condition, i.e. clean, air conditioning/heat on if applicable, no deferred maintenance, no clutter and the big one, nicely landscaped-remember landscaping is the first impression, so make sure if it can pop, it does pop.

When properties show best, buyers are mostly willing to pay the highest price. But, you also need the most amount of buyers looking in order to get the highest price. So, the catch 22 is that when most properties are vacant on Nantucket it is the middle of the winter, when most buyers are not on Island. When most buyers are on Island it is in the middle of the summer, when most properties are full of people and their belongings-not a good recipe for top showing conditions.

So, what to do? First and foremost, if you plan on listing your property during the summer season, make sure there is a well defined show clause in every lease. Warn the tenants that the property is going to be for sale and you expect their cooperation in showing the property. If you feel you have a very serious showing, try to have the cleaner do a quick clean before the showing-tenants mostly do not mind the landlord paying for the house to get cleaned during their stay. Give tenants as much warning as possible and ask them to tidy up and be out of the house for the showing.

Plan the brokers' open house when the property is looking its best-there is a saying on Nantucket, "co-broke or go broke", so your agent is going to want as much help from other brokers as possible. If the tenants are unruly, you might have to wait until the Fall to list the property. That being said, the Fall market is traditionally strong, so that is not the worst situation. Foresight is the biggest solution to this catch 22, so plan ahead. And, remember, landscaping should be at the top of the priority list, not the bottom.
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RENTAL MARKET UPDATE
  "Send me the lease"

The Tenants are loving Nantucket this year. So much so, they are wanting to re-book while they are still here on island. Most Owners are more then accommodating to this request and allowing Tenants to rebook the same weeks for 2013 for either close to, or the same rate. This is a win/win for both Owners and Tenants alike. The Owner gets a great repeat Tenant, and the Tenant already knows the house.

Since we are seeing this trend so early this year, we definitely recommend booking early for 2013. Call your JPFCO Agent!
 
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FEATURED AGENT
Featured Agent, Nash Strudwick


Favorite thing about Nantucket: I continue to discover new 'favorite' places after so many years. It takes just a small adjustment to your routine to find a new street, a new walking path, a new beach and/or a new activity. Toss three active kids into the mix and its amazing how much fun it is to discover the island through their eyes. Rounding Brant Point on the Steamship after a trip off island never loses its magic. This is home.
Choice restaurant: Oran Mor
Best quick lunch: Cooks Cafe'
Most frequented beach: Quidnet
Beloved Nantucket summer activity: Time on the water, sailing and swimming. Sunrises and sunsets.
Fishing Hole: Not a chance but I hear they are running along the south shore.
Last Call: Pheasant Drive
Nantucket real estate tip: If you are thinking about another home on Nantucket then you already understand and appreciate what this island has to offer. Our market is different and each transaction is unique so enjoy the process. Be patient but be ready when that perfect opportunity is presented to you.
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NANTUCKET REAL ESTATE NEWSWIRE
» Explorers find Sunken WWII German U Boat Off Nantucket
» Nesbitt Inn on Broad Street sold by JPFCO
» Mitt Romney to visit Nantucket in August
» Nantucket Historical Association Antique Show
 

NOTES FROM PEPPER THE ELDER
  The Katz in the Cox

Sitting in Surfside, having lunch on a Tuesday afternoon in June and one jet after another is taking off. In June no less. Now that's real dough. Manna from Heaven. There is so much money on this Island, it's astounding. Yet we haven't hit the pinnacle of U.S. resort property values. Why? I don't know. Too many Yankees maybe.

Speaking of Yankees. A funny real estate story comes to mind. A true story. Some years (20 or so) ago, I was selling a house in Quidnet owned by a guy named Marshall Cox. A real Yankee. I thought I found a Buyer in a guy named Marshall Katz. Not a Yankee. Cox and Katz verbally agreed upon a price and Marshall Katz decided to take a final spin around the house, whereupon, zut alors, behind the garage he spied a cat boat- a Marshall Cat Boat, no less. Katz told Cox that he wanted the Cat; Cox said no to Katz and kept his Cat. The deal fell apart. True. A tale of 3 Marshalls. Moral of the story: If you're Cox, bring in the Cat or you'll keep out the Katz or, if you want to make a sale don't let Katz and Cox get into a cat fight. Something like that.

The Saxophone player for Johnnie and the Hurricanes was Cy Clanton, brother of Jimmy (Just a Dream) Clanton. In the original of the movie 'The Thing,' who was inside the 'Thing' suit? In other words, who played the 'Thing.' And while we're on the 'Thing,' what was Steve McQueen's first movie?
 
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