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JPFCO

Nantucket Real Estate Updates

Nov 15, 2012       Issue: 236

J Pepper Frazier Company
Long Pond
 
 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
Cranberry to Cranberry-Not on Nantucket...

Many buyers and sellers will analyze a property's value by comparing it to other properties that have sold on a dollar per square foot basis. That can lead to a false value because unlike a sub-division in say, Florida, where properties are cookie cutter, every property on Nantucket has unique aspects. Take these two sold properties for example:

177 Eel Point Road and 4 Lavendar Lane. Although the properties have different street addresses, they abut.

177 Eel Point Road has 5 bedrooms, 5.5 baths and 3,839 sf of living space on 1.84 acres.
4 Lavendar Lane has 6 bedrooms, 6.5 baths and 4,334 sf of living space on 1.84 acres.
177 Eel Point Road sold for $1.75mm on 10/19/12.
4 Lavendar Lane sold for $3.2mm on 5/29/12.

Why a $1.45mm price difference for what seems to be very similar properties that sold in almost equal markets? Because, 4 Lavendar Lane sits high on a knoll with sweeping water views and 177 Eel Point Road sits low in a valley with peek-a-boo water views at best.

This was an example with an obvious reason for the price discrepancy, but many times there are subtle reasons why adjustments need to be made for each property's good and bad unique aspects. Cranberry to cranberry comparisons on Nantucket are very hard, so don't get too bogged down by this approach. Just talk with your JPFCO real estate broker, they can turn anything into a cranberry ;-).
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RENTAL MARKET UPDATE
  Rental Agents

In this world of online shopping carts and Overseas technical support, the J Pepper Frazier Company Rental Agent is a bit of a rarity. We think this is a good thing, and an invaluable part of a Nantucket vacation experience.

Some of the beneficial aspects of working with an agent vs just a website are that, your rental agent will have physically been in the house that they are recommending to you, and they will honestly tell you the actual pros and cons of each house through neutral eyes. The Agent will be able to guide you through the different island neighborhoods, and coach you on setting up the rental experience you are looking for. Your rental agent will have a relationship with the homeowner, and will be the go-between on solving any issues that may arise. They can also recommend the family friendly beaches, the best lobster roll, reddest sunset location, you name it!

For a truly unique vacation planning experience, contact your favorite JPFCO Agent today.
 
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FEATURED LISTING
Featured Sales Listing 1 Dolphin Court $2,595,000

Brant Point !!! Located on an over-sized lot on a brand new brick road off of North Beach Street. Rare opportunity to own a newer house in Brant Point. Turn Key! Potential for great rental income. Rents at $12,000 per week and there is still some summer 2013 availability.
  More details about 1 Dolphin Court 
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NANTUCKET REAL ESTATE NEWSWIRE
» Nantucket Votes along Democratic Lines
» Thousands of Scallops Rescued after Nor-Easter
» Nantucket Inky Santa Toy Drive Underway
» The Nantucket Bake Shop to change locations
 

NOTES FROM PEPPER THE ELDER
  Big House

The usual suspects were blamed for Mitt Romney's defeat: Welfare recipients, students, unions, single women, minorities. But I'll add one more to that list; to wit: The Republican Party itself. It was simply out-hustled. Here's an interesting tidbit, Obama won 8 of the 10 richest counties in the U.S. The richest county in the U.S. is Nantucket with a $137,000 per capita annual income, but none of the aforementioned groups are of any particular prominence on the Island. So who voted for Obama and why? I don't know, but he got 63% of the vote. Obviously Massachusetts is a very liberal state and, I guess, it's spilled over to Nantucket, which, for all intents and purposes is non-union. I don't know, but I found it interesting.

Jeb Bush was in Boca Grande yesterday and he gave two extremely interesting talks. This is a seriously bright man. He thinks illegals should be embraced, not shunned. I tend to agree with him. As you may, or may not know, Boca Grande is the Winter White House and the whole clan arrives Dec. 26th, which is fun, because they're so darn nice and polite. Boca Grande real estate has its lowest inventory in years and the builders tell me they're going flat out. As you know I feel Boca Grande is a microcosm of Nantucket.

We're off to Antigua W.I. for Thanksgiving and it will be interesting to see what has happened to a bunch of gleaming office buildings that Alan Stanford erected, before he took a permanent vacation in The Big House. Happy Thanksgiving.
 
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