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JPFCO

Nantucket Real Estate Updates

May 15, 2013       Issue: 251

J Pepper Frazier Company
Eel Point 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
 

GROUND NOTES FROM DALTON
Nantucket Real Estate Construction is Booming!

The amount of building on Nantucket is incredible. It is not just in pockets around the island, it is everywhere and everything. Take the new developments. The naysayers said they would sit untouched with tumble weeds blowing down the streets for years to come. Not so, Black Fish Lane has two new houses going up, Gingy Lane has three, Finback Lane has three, Nanahumacke has three, Old Westmoor Lane has one, Pilgrim Place has one, Hydrangea Lane has one, Cachalot Lane has one, Aurora Way has one and a developer is actually breaking ground on Ellen's Way. That's just the developments.

I spoke with the Building Inspector and he said he is busier than he has ever been. Busier than 2005/2006 - whoa! I was getting my BBQ gas tank filled (it is BBQ time on ACK) and the company manager said business has never been busier. They have already done 8 gas tank installs and have 8 more scheduled this month. I asked if that is a record and he almost keeled over - it is a record.

With lots of building comes demand for sub-contractors, which causes wages to rise. Not only are subs starting to pick and choose their jobs, but they are demanding higher prices. Remember my posting on March 14, 2012, "To Build or Not To Build"? Did I mention I am a fortune teller?

Words of advice, be nice to your caretaker...
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RENTAL MARKET UPDATE
  Kick off to the Summer Season, Figawi weekend May 24th through May 26th

The 42nd Annual Figawi Race Weekend is recognized as a top sailing event not only on the East Coast but is known nationally as well as internationally. Figawi Race Weekend kicks off the Cape Cod and Nantucket summer season. Entries include sailors from several states 240+ boats (including 30 power boats) and over 3,000 sailors and visitors, as well as locals, attend this event.

The boats set sail from Hyannis and start from 10 am until approximately noon, depending on their handicap. Around 200 plus sailboats in 13 divisions compete across Nantucket Sound, in various courses, to be the first one to reach Nantucket. Standing on the beach at Brant Point Light is a great spot to watch all the action.

There are many Figawi events and the general atmosphere that lines Nantucket's cobblestoned streets is energy and excitement for all of these festivities. Figawi guests are generally a younger crowd that like to thoroughly enjoy their Nantucket weekend! Happy start to the summer rental season!
 
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FEATURED LISTING
146 Surfside $1,875,000

New, custom built beach house sits on over an acre in Surfside. The property is very private yet just a short distance to popular Surfside beaches. This is the quintessential Nantucket beach house with an elegant flair. It is a light and airy home featuring vaulted ceilings, open flow floor plan, and spacious gourmet kitchen. This home's finer points are well thought out and include ship lap ceilings, transom interior details, and stunning oak flooring. Outdoor relaxation is anticipated with a gorgeous blue stone deck that includes an outdoor fireplace and private views of mature trees and landscaping. Property has significant room for expansion and/or to build another house, pool or tennis court to make it a Surfside compound for future generations.
  146 Surfside Road Details 
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NANTUCKET REAL ESTATE NEWSWIRE
» Nantucket Wine Festival Starts Wednesday 5-15
» Low Tides cause Steamship Delays
» Nantucket Airport Receives Federal Funding
» New Bird Species Now Visits Nantucket
 

NOTES FROM PEPPER THE ELDER
  Baltimore's Inner Harbor & Green Spring Valley

Well I've had my fill of reunions recently. Mine last week in Southborough and Libby's the week before outside Baltimore; both 50th. My reunion was great fun, with about an 80% attendance, about 70 points higher than my college class room attendance. 3 days in advance of the event, 6 of us, plus Libby, went to Nantucket, where we had a ball game. I gotta tell you, when the weather is nice in the spring in Nantucket, it is outstanding. Fall is a given.

Much to my surprise, Baltimore was cranking. My old friends, the cranes, were everywhere. Major construction all around the harbor and Johns Hopkins. However, when you get away from the inner harbor, there are some pretty nasty slums. The top-end and 'good' real estate is doing very well in Baltimore, whereas the mediocre to bad is severely lagging. The Green Spring Valley, with its wonderful estates, is just plain cheap. When they built Camden Yards (Baltimore Orioles) and were excavating, they found, low and behold, Babe Ruth's father's saloon. Yeah I know Babe Ruth attended St. Mary's orphanage, which was right behind the right field stands, but he wasn't an orphan. His parents didn't have time for him and the Fathers, the good old Fathers, loved having an athlete of his, and, in my mind, only his, caliber. Babe Ruth was simultaneously the best hitter and pitcher in major league baseball. I guess, back in the day, rather than raze a building, they cover it up and build on top of it. No more boarding school 50th's, but I do have an opportunity for more than one college 50th, if you get my drift.
 
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