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JPFCO

Nantucket Real Estate Updates

Aug 15, 2012       Issue: 227

J Pepper Frazier Company
Hulbert Avenue Views
 
 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
The sharks are circling...

Recently there have been talks about the shark population increasing and getting closer to the Cape and Islands because of the exploding seal population. Makes sense-I go where the food is, too. Residents and visitors should not worry, though, because shark attacks on humans are rare and they would rather eat a seal. Also, keep in mind that sharks are a crucial part of the food chain.

Real sharks are not the ones that are really circling, though, it is the Buyer sharks that are really circling and they are not circling seals; they're circling Nantucket property! 7 and 9 Grant Ave. came on the market for $8.9mm a couple of weeks ago and word on the street is there were four offers immediately. The Gamble Estate is under agreement. 39 Hulbert Ave. has an accepted offer. I heard there's been action on a property in Town that has literally been on the market for the last 5.5 years (not joking). We called for highest and best sealed bids on a great Tom Nevers listing because of multiple offers. It's not just the high-end that is moving-it's just about everything.

Shark attacks make for a strong market...
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RENTAL MARKET UPDATE
  2012 Rental Trends

Top Requests: Air conditioning, pools, wifi, new linens and towels.

Booking multiple weeks, 2012 folks wanted to stay 2 plus weeks instead of just one.

Biggest Complaint: AC problems. Our Tenants wanted to escape the heat, and really appreciate that amenity, or are unhappy when that amenity isn't functioning properly.

Besides doing more leases this year then in years prior. J Pepper Frazier Company has noticed that Tenants are wanting nicer houses. Last year the under $5k range was the most popular, this year, the most leases were booked in the $5-10k range.

Town and Brant Point continue to be the most requested island locations.

Wanting to rebook early. We have had dozens of repeat booking requests as well as new requests for 2013, and we are only mid-way through August!
 
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FEATURED AGENT
Featured Agent, Debby Christian


Favorite thing about Nantucket: The beaches, the air, the light, the openness and the sunsets. Also, the feeling of community we have on the island.
Choice restaurant: Languedoc - consistent, delicious and always fun.
Best quick lunch: Provisions - nothing better than a turkey terrific.
Most frequented beach: Fisherman's - good surf and fishing.
Beloved Nantucket summer activity: Lobsters on the beach with friends and family.
Fishing Hole: Fisherman's at dusk.
Last Call: The Galley - great drinks and atmosphere.
Nantucket real estate tip: Once you have been on Nantucket you will know how magical the island can be. So when you have the opportunity to buy a home, go for it, and capture a part of the magic.
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NANTUCKET REAL ESTATE NEWSWIRE
» Nantucket Race Week
» UMASS on Nantucket
» 16th Annual Boston POPS on Nantucket Cancelled
» Cisco Bike path work could begin in September
 

NOTES FROM PEPPER THE ELDER
  Buffonery

OK class, pay attention. No, not now Johnny, put down your hand. Nantucket is starting to roar. Gentlemen. Start your engines. I'm not sure where that leaves Danica Patrick, who, I suspect can jump start any number of gentlemen's, or a lesser caste's, engines. So the lion, or in this case, the whale is roaring. True. But the economy is not. Why the dichotomy? People have faith in real estate. In particular, high-end real estate. Our house is on the harbor in Monomoy and I've had, in the last month, three requests to 'show' the property. Highly unusual. I've refused all, but I'm starting to get tempted, knowing all along that I will never replace it. I keep hammering this, I hope, home: Luxury real estate is, at the moment, a safe haven. Where else? Bonds. Treasuries? Common stocks? Gated communities? I think not; they're moving sideways, much like Rodney Dangerfield doing the 'Twist.' I'll tell you one thing (Oh Pepper, please keep it to one), if, in fact, we do sell our Monomoy property, we'll do a 1031 and invest right back in Nantucket and, possibly, Beacon Hill, another 'hot' spot that can't be expanded.

The guy in the 'Thing' suit was James Arness of Gun Smoke fame, and The Blob was Steve McQueen's first movie. Talk about cameo appearances. Now the word Scaramouch means a complete and utter conceited buffoon. Who on Nantucket had a boat by that name, and, once you get the answer I'll let you make the conclusions? Connections?

OK Johnny. What is it? Good Johnny. Don Ameche is the correct answer; it always is.
 
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