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JPFCO

Nantucket Real Estate Updates

Jan 1, 2013       Issue: 239

J Pepper Frazier Company
Nantucket Ferry 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
Fiscal Cliff or Not, Real Estate Market is Moving

I've been saying all year that the Nantucket real estate market has been coming back. There has been plenty of evidence to back this up-for instance, the total volume for 2012 will probably be around $750M, a 45% increase from 2011's $520M. Now, there is a general consensus among most analysts that the national real estate market is on an upswing and there is plenty of data to prove that, but numbers can easily be manipulated, so I like to see to really believe. Well, I saw the proof the other day when I landed at the Fort Myer's airport. There is a multi-use building, probably around 30,000 sf, right by the airport that was finished being built right when the market imploded in 2007. Naturally, despite strong efforts like large "For Lease" banners, the owner could not get the spaces leased. It sat almost 100% vacant for the last 5 years, but when we drove by it a week ago, I noticed it was 100% occupied.

And, there was new construction happening in the immediate vicinity of this building. Now I'll believe the numbers-real estate markets are coming back everywhere.
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RENTAL MARKET UPDATE
  Steamship Vehicle Reservations

Beginning on Tuesday, January 15, 2013, prepaid real-time reservations for the time period of May 16 to October 15, 2013 can be booked online at www.SteamshipAuthority.com. The 2013 Vehicle Reservation Program information and application may be downloaded by going to www.SteamshipAuthority.com /ssa/documents/2013Program.pdf with your browser. Reservations will be processed as received.

Reservation requests by telephone or in-person at the ticket offices will be processed beginning Tuesday January 22, 2013. Up to 5 reservations (one-way or round-trip) can be requested per envelope or per telephone call. Sign up for the Steamship Authority e-News to receive special travel discounts, a preview of island events and trip alerts at: https://www.steamshipauthority.com/ssa/emailsignup/newsubscribe01.cfm
 
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FEATURED SALES LISTING
  1 Thurstons Way $610,000

Three bedroom house and two bedroom cottage on a large lot in a convenient location. Recent upgrades include interior trim details, new kitchen counters, new vanities, newly refinished floors, and some upgraded fixtures and lighting.
 
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NANTUCKET REAL ESTATE NEWSWIRE
» 80 Trees Relocated from Cisco Bike Path
» 4 Years of New Years Eve on Nantucket
» 1 Thurstons Way
» H. Flint Ranney, SSA Representative Dies
 

NOTES FROM PEPPER THE ELDER
  Francis the Talking Mule

Out with the old and in with the new you say. Not I. I'm hangin' on to my autographed pictures of Don Ameche and Victor Mature. Not to mention Mr. Ed and Cesar Romero. I want something I can put my hands on, and I don't mean Truman Capote. A stock is a stock, but what is it. Where is it? Do you have any control? Do you have any say in the Board meetings? I think not. But if you own a house on East Elmer Fudd Street, you can put your hands on it. You can renovate it. Maybe even move it to West Elmer Fudd. You get my point. Same with gold and silver. By the way, if you buy a thousand dollars worth of nickels and melt them down, they're worth twelve hundred dollars. A quick twenty percent. Not bad, but kind of a drag to carry around.

So hang on to those tangibles and acquire more if you can. In these incredibly uncertain times, real estate is the best vehicle to create wealth. I don't think I'm getting much of an argument on that score. And as Mark Harmon in N.C.I.S. would say, 'Rule # one, always go for quality.' Last year the Boca Grande area realized the greatest increase in property values of any place in the country. So Happy New Year and don't throw away anything to do with Francis the Talking Mule, who, by the way, was a hell of a lot more articulate than most politicians.
 
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