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JPFCO

Nantucket Real Estate Updates

Nov 15, 2013       Issue: 265

J Pepper Frazier Company
Biking in Madaket
 
 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
  Nantucket Real Estate Market IQ Through the Roof!!!

The Nantucket real estate market acts like any unrestricted market - there are buyers and sellers and the market sets the price for the good. There are arbitrage opportunities because real estate is illiquid, but for the most part, the market is efficient. However, almost all of the arbitrage opportunities are on the buy side - for some reason a property is undervalued (the zoning is about to change, the property is a key piece in a development, the broker underpriced it, etc.), so a buyer takes advantage of the opportunity and creates instant equity. Arbitrage opportunities rarely happen on the sell side because buyers are savvy and even if a buyer unknowingly agrees to overpay, the deal will more than likely blow up because the property will not appraise at the agreed upon price. So, it is much harder for a seller to sell for over market than a buyer to buy for under market.

There will always be sellers that think they can outsmart the market, that think their property is worth more because they love it, but the market's IQ will more than likely prove to be higher. Can't trick the system...
    Latest Nantucket Market Stats  
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RENTAL MARKET UPDATE
  Email a Friend!

www.jpfco.com has a new addition to make it even more user friendly for tenants, owners, and shoppers. Our already great website now includes the ability to email a sales or rental listing to a friend. Our brilliant web guys have just added the ability to share whatever property strikes your fancy right from the page you are currently viewing.

This is a handy feature to share a rental listing with a friend, or a sales listing with a business partner. Next time you go browsing on www.jpfco.com remember you can now email!
 
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FEATURED LISTING
1 Joy Street $839,000

"JOYFUL" Is a very charming, low maintenance, three bedroom home in Town. The new owner can take a short walk to Main Street! Solid rental history. Great price!
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NANTUCKET REAL ESTATE NEWSWIRE
» Hyannis Harbor Dredging Scheduled
» 40th Annual Nantucket Stroll Guide
» Cape Flyer Returning Next Season
» Baxter Road Erosion Plan
 

NOTES FROM PEPPER THE ELDER
  Obama Computer System

The Florida market is in full recovery. Not, in my opinion, because there are a ton of people out there looking for houses to buy and live in, but because the 'Big Boys,' such as hedge funds and investment banking houses like Blackstone are scoffing up available inventory at an alarming rate, and then turning them into rental properties. How they can keep track of tens of thousands of rental properties is beyond me. Maybe they got The White House to design them a computer system. But the market has been holding steady and is, in fact, appreciating. All positive news.

Off to Antigua next week where I suspect I'm going to see a sharp increase in house prices. Why, you ask? Because Antigua is a politically stable country with up-scale neighborhoods and an increasingly attractive commercial environment. People are looking for places to park their dough in hard, tangible assets and up-scale vacation communities meet that criterion. No I would not put my money In Fall River or New Beige, but Nantucket and Boca Grande. Si.
 
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