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JPFCO

Nantucket Real Estate Updates

Feb 15, 2013       Issue: 244

J Pepper Frazier Company
Nantucket Beach Snow
 
 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
 

GROUND NOTES FROM DALTON
Number Games

In commercial real estate, it is all about the numbers. In residential real estate, it is not only about the numbers, but also about emotion and psychology. Focusing on the psychology aspect, why do properties get listed $1 below the next price level, i.e. $1,999,999 instead of $2,000,000? Because, there is a huge psychological difference between those numbers. To state the obvious, $2M is $2,000,000, $1,999,999 is not $2M. Besides that, physically they look far different-one has a "1" in front and the other has a "2" in front. So, we real estate brokers typically price properties just below the next price level. I've only had one Seller in my career resist pricing their property a dollar below the next level of millions; their property is still for sale...

To put it in perspective, what's the gas price in your town? On Nantucket (we are an island, so we're "on", not "in", right?), the price is $4.99/gallon. Well, ever notice the third number behind the decimal point? I have and I've never seen it be a "3"! The price is actually $4.999/gallon-that's $5/gallon, right? No, it's $4.99/gallon ;-)

-dtf
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RENTAL MARKET UPDATE
  Mother Nature

The online vacation forums are abuzz with speculation about how the Sandy storm damaged shore locations will rent this year. Word on the net is that even if the rental house is ok, there may be nothing for the vacationers to do because of damaged boardwalks and towns. There are even certain houses on online sites that boast, "no Sandy damage!" The general consensus is many vacationers that frequent those spots are looking elsewhere, and J Pepper Frazier Company has had it's fair share of phone calls from those Tenants. These additional calls are adding to our already busy upcoming rental season.

We are grateful that after all these winter storms our little island has thus far sustained for the most part, little damage. Nantucket still has what vacationers seek; amazing beaches, an intact harbor, unscathed downtown, scenic lighthouses, and undamaged rental homes. Give us a call today to see the softer side of Mother Nature on Nantucket island this summer!
 
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FEATURED LOCATION
  Brant Point

The Nantucket island location of 'Brant Point' extends from the the Whaling Museum to Brant Point lighthouse, to the Galley restaurant and Cliffside beach-depending on who you ask. 'Brant Point' houses are some of the most requested in the rental pool due to it's close proximity to both the beach and town. This area has many nice features, including the Brant Point lighthouse which is seen in many a wedding photograph, as well as the best views of Nantucket harbor boat traffic. Some benefits of a rental house in Brant Point are; very family friendly locale with two playgrounds and calm beaches with amenities, close proximity to town, the public tennis courts, shops and nightlife.

About 10% of the houses in J Pepper Frazier's rental inventory are considered Brant Point neighborhoods, and approximately 4% of houses for sale island-wide boast a Brant Point location. This is the perfect spot for a family vacation.

If Brant Point appeals to you, a great rental house is 51 Walsh Street. There are 3 prime weeks still available in this 7 bedroom home with water views. It rents for $14,000 per week/high season.
    51 Walsh Street  
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NANTUCKET REAL ESTATE NEWSWIRE
» Stop & Shop Weighing Mid-Island Locations
» Powerful Winter Storm Pounds Nantucket
» American Seasons Owners to open The Proprietors
» New Cumberland Farms Store Opens
 

NOTES FROM PEPPER THE ELDER
  Cross Action between Nantucket and Boca Grande

Boy. The skies have opened. First time in quite awhile. The sound of rain is almost foreign, but to this possessor of superb aural senses, quite pleasing. But then again, after listening to various politicians' Stentorian droning, even an 'off the cuff, er hoof,' speech by Mr. Ed would seem melodious. Well make no mistake about it, Nantucketers have discovered Boca Grande, particularly those with a bent towards 'Sconset. Since Boca Grande can't really be built up much more, this is a good thing and should boost the Island's values, which I think are grossly undervalued. It is also in keeping with Boca's rather homogamous nature. There is going to a lot of cross action between Nantucket and Boca Grande.

Another factor that is going to spur B.G. values is the creation of a private airport just 'off' Island. As far as I can tell the airport was recently taken over and expanded by Augie Busch III, which should ensure its financial success. Do I think Mr. Ed is more eloquent than Frances The Talking Mule? Yes I do, and furthermore I think Frances is more articulate than the V.P. of the U.S.
 
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