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JPFCO

Nantucket Real Estate Updates

Sep 1, 2012       Issue: 228

J Pepper Frazier Company
Nantucket Sunset over Polpis Conservation Land
 
 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
  What an Amazing Summer!

This place is built to last!!! A quick look at the stats.

Properties on market at this time:

2008-755
2009-709
2010-703
2011-644
2012-552

Properties with contracts at this time:

2008-48
2009-61
2010-70
2011-74
2012-105

Whoa!

Last weekend, 25 Lincoln Ave., asking $19,995,000 and 1 Sherburne Way, asking $20,995,000, which are two beautiful North Shore waterfront properties that have been on the market for 4+ years, went under agreement. 25 Lincoln Ave. already closed for $18,500,000!

Although I like seeing the big numbers trade, Nantucket needs to make sure we don't price out the heart and soul. Having witnessed the upward trend for the last 20+ years, I don't think we will because Nantucket is "Built to last till time itself falls tumbling from the wall."*

*GD
 
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RENTAL MARKET UPDATE
  Security Deposits

The last little detail of a glorious Nantucket vacation, the security deposit. Security deposits are generally 10% of the lease rate. Tenants who have stripped the beds, started the laundry, and done the dishes are generally rewarded 30-60 days post vacation with the complete return of their security deposit. This sweet mailbox surprise reminds them to reminisce about their beach days, print out their vacation photos, and contact their real estate agent to rebook for next year! Many Tenants are so enthusiastic about a rebooking, they even request that we hold their security deposits for their new lease.

If you would like your security deposit rolled over, contact your rental Agent today!
 
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FEATURED AGENT
Special Agent, Carol Miller


Favorite thing about Nantucket: Sitting in the Garden of Greater Light
Choice restaurant: Dune
Best quick lunch: Walter's Sandwiches
Most frequented beach: Madequecham
Beloved Nantucket summer activity: Shopping at the Hospital Thrift Shop
Fishing Hole: Sousa's Seafood
Last Call: Ventuno or Chanticleer
Nantucket real estate tip: Choose an older, experienced woman real estate agent.
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NANTUCKET REAL ESTATE NEWSWIRE
» Nantucket Lightship Named a National Treasure
» The Nantucket Project
» Cape Wind to Buy Falmouth Marina
» What Google and Nantucket have in Common
 

NOTES FROM PEPPER THE ELDER
  Sanch Panza

Zippitty Doo Da. Zippitty Yeah. If one had doubts that the Nantucket real estate market has turned around. Consider this: Three properties, two of which had been on the market for, I'll guess, 7 or 8 years, and the other for around 2, are under agreement at near asking prices, which are in the $10,000,0000-$20,000,000 range. High end inventory is shrinking very quickly. Once the $20,000,000 barrier is broken with regularity, then prices will move up to the $30,000,000 range. Last week of the 88 properties under agreement 28 were through my office which leads me to believe that maybe, just maybe, my boys will let me ride off into the sunset in the manner to which I am accustomed. And that means not on a mule but a horse. No Sancho Panza or Andy Devine, be I.

I can't believe that Islanders are being so very non-pulsed about the so-called Cape Wind Farm. If it is not blocked (which it can be), it will be a permanent blight on the land scape, 25 square miles of 45 story tall wind turbines. Nice. Huh? And make no mistake about it they'll make a racket. In all probability they won't work anyway. Solendra East. It's being done in the guise of an environmentally 'friendly' project. Right. 25 square miles of sea beds ripped apart. Funny how that goes when there is money involved. So get on the band wagon, before it's too late.
 
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