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JPFCO

Nantucket Real Estate Updates

Jan 15, 2013       Issue: 241

J Pepper Frazier Company
Dionis in a January Fog
 
 New Listings VIEW ALL

Jul 26, 2017

Cliff
$5,975,000

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
Should've Gone for the Cheaper Rental...

I've never heard someone say, "We should've gone for the cheaper rental." The rental bookings are in full swing right now, so if you are thinking about renting and you can afford what your broker recommends, go with your broker's recommendation. I'm not saying rent something out of reach, but don't try to save a few bucks by getting a cheaper rental. More than likely, it will not meet your expectations and your vacation that you have worked hard for all of a sudden has a major kink in it. My wife and I just rented a house on Boca Grande, FL (an amazing island where my parents winter.) We could have gone for the house on the non-waterside of the road, but we said, no, we can afford the waterside, we have worked hard for this vacation, so let's rent the waterfront house. I'll tell you what, watching the sunset over the Gulf of Mexico sure beats watching the sunset over a house.

Besides our son getting christened, taking our first swim with him, the arrival of his first teeth, seeing friends and family, shaking "Dubya's" hand, the rental house was definitely a highlight.

If you go for the cheaper rental, you probably will regret it.
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RENTAL MARKET UPDATE
  Nantucket & Golf

Nantucket is known for it's stunning beaches, fabulous restaurants...and golf! This little island can be a golf lovers delight with it's 4 golf courses. There is a public 9 hole golf course, and three 18-hole courses, one public, one semi-public, and one private. Call your favorite JPFCO Agent and ask for a rental house near one of these golf courses!

Skinners: 9 Hole Golf course is also known as the Old Siasconset Golf Course. This course is rustic, public, and the cheapest 9 holes on the island.

Miacomet Golf Course: This public, link-style course is located one mile from the ocean and three miles from town. The course is owned by the Nantucket Island Land Bank, and offers ample fairways and a mix of green sizes ranging from 3,000 to 6,000 square feet. The course is challenging yet very playable, with multiple tees that allow both professionals and amateurs equal opportunity for an enjoyable day on the links.

Sankaty Head Golf Club: Located in Siasconset, it is one of the few true world-class links style golf courses. The famous Sankaty Head Lighthouse looms over the front nine and still shines brightly over the Atlantic ocean. Membership is private, but the public is allowed to play in the off-season (October-May) for a fee.

Nantucket Golf Club: Members only club, situated on the east end of the island. Consistently rated one of the best courses in the state, it is a walking course with white suited caddies. This course is not accessible to the general public, you must be accompanied by a member to play.
    Miacomet Golf Course  
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FEATURED LOCATION
  Nantucket Town

The Nantucket island location of "Town" encompasses essentially any street within a 10 minute walk to Main street. This is one of the most requested rental neighborhoods due to it's close proximity to the many restaurants, shops, nightlife, museums, movie theaters, ferry, and harbor beaches. Town is popular to those who don't wish to bring a car, and it is a safe first choice for those who are unfamiliar with the island.

About 32% of the houses in J Pepper Frazier's rental inventory are considered Town neighborhoods, and approximately 26% of houses for sale island-wide boast a Town location. At the time of the publishing of this newsletter the only drawback of a Town rental is the hike to the island's only grocery store. We are hopeful for a new downtown grocery store by summer!

If a town location is your cup of tea, a great Town rental is 67 Union Street. There are weeks available May through October in this 3-4 bedroom, LED certified house. It rents for $6500 per week/high season.
    Link to 67 Union Street  
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NANTUCKET REAL ESTATE NEWSWIRE
» Vehicle Ferry Reservations Now Available
» Muskeget tapped for bird habitat project
» Skinner's Golf Course
» Selectmen OK two triathlons in July
 

NOTES FROM PEPPER THE ELDER
  J. Fred

I don't know about you, but I sure as hell don't know, nor do I understand, all the nuances of the new tax code. Of course it would help if they were written in English, but you can't have everything. Perhaps I should get Professor Erwin Corey to explain them to me. 'Gradually phase out deductions?' Which deductions? You may or may not deduct mortgage interest. May or may not? Do you have to pass a stupidity test to go to Washington? I thought I understood the 3.8% transaction tax. As I interpret it, You pay the 3.8% on virtually any transaction whether you have a gain or a loss. So if you sell a house for $400,000 that has a cost basis of $500,000 you still pay a $15,200 tax. Oy Vey; what a deal. Lose a hundred grand and still pay a tax. Your adjusted gross income must be over $200,000. Number Two Son is in disagreement with me and says it does not apply to loses. So we'll have to wait for the English translation.

How about the 1099 nonsense. You are required to issue a 1009 to any individual who does company related work for $600 and above. And are you ready for this. You are required to issue a 1099 to any corporation or partnership that has performed, medical, health care, legal or, here it comes, fishing related activity. You can't make this stuff up. The same $600 threshold applies.

Was that J. Fred Muggs I saw entering the freshman class in Congress? Forget about the stupidity test. We already know the results. Yup, they're making the good old U.S.A. the place to do business. The EPA you say. Not before lunch. I hope good Ol' J. Fred doesn't sue me for defamation.
 
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