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JPFCO

Nantucket Real Estate Updates

Jan 1, 2014       Issue: 268

J Pepper Frazier Company
Madaket Sunset at 4:19pm
 
 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
 

GROUND NOTES FROM DALTON
  Another Strong Year for the Nantucket Real Estate Market

Nothing to complain about in 2013 – the market was solid and there are no signs of faltering in 2014.

So, how did we end and where are we going?

Total volume for 2013 was approx. $753M. Down from 2012's $830M, but remember that December of 2012 was a monster month because of the inevitable rise in the capital gains tax in 2013. Take that factor out and we would be very close to 2013's number. 2011 was approx. $532M; 2010 – $695M; 2009 – $435M, which was the worst year in over the last decade.

What's in store for 2014? With the Dow at 16,500+, my prediction is we will have another $750M+ year. The inventory is lacking right now, but sellers that have been patiently waiting for the market to improve will come out of the woodwork this spring.

I'm young, at least in my eyes, but I think I have some wisdom. So, one piece of advice for Seller and one piece of advice for Buyer as we gallop into the New Year. Seller, do not think we are in the heydays of Fall '06. The market is better, but still price according to comps. Price too high and there can be unwanted results. Please reference our web-site, www.jpfco.com, and see that properties sold within 30 days of being listed sold for 95.3% of ask; one to six months, 90% of original ask; over 6 months, 77% of original ask. Buyer, do not think this is a free for all where what you bid is what will get accepted. The market has strengthened. The good news is that I still need my binos to see the top of the market.

Bottom line, let's keep cool heads and do some deals!!!

JPFCO wishes health and happiness – Happy New Year!!!
    www.jpfco.com  
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RENTAL MARKET UPDATE
  So Much to Look Forward to on Nantucket in 2014!

Happy New Year means Happy New Year of Nantucket Events

Daffodil Festival Weekend - April 25-27, 2014
Nantucket Wine Festival - May 14-18, 2014
Nantucket Figawi Regatta - May 23-26, 2014
Nantucket Film Festival - June 25-29, 2014
Annual Sandcastle & Sculpture Day - August 9, 2014
Boston Pops @Jetties - August 9, 2014
Nantucket Race Week - August 9-17, 2014
Opera House Cup - August 17, 2014
Cranberry Festival - October 11, 2014
Christmas Stroll - December 5-7, 2014

For a complete list of all Nantucket events please see the link below.
    2014 Nantucket Events  
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FEATURED LISTING
  9 Finback Lane $1,695,000

Finback Lane, in the heart of Nantucket. New construction with pool and cabana. Custom built homes abutting over 4 acres of conservation land with walking paths. Centrally located with close proximity to Cisco Beach, Miacomet Golf and Bartlett Farm.

Each house is unique with high end appliances, open floor plans and professionally decorated. At the end of the paver stones road is a path that leads to the private pool and cabana. Finback Homeowners Association will ensure that all the homes are built with the highest level of quality. Nantucket with all the creatures of comfort in a very convenient location.

9 Finback Lane is quality construction with shiplap walls, crown molding, oak floors, marble countertops, tiled baths.
 
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NANTUCKET REAL ESTATE NEWSWIRE
» Nantucket Real Estate Numbers
» Nantucket Giving Back
» Affordable Housing Subdivision
» Nantucket Funeral Home Closes
 

NOTES FROM PEPPER THE ELDER
  Bonker On Out

We sold our house in Monomoy. I'm not sure why. Money, I suppose, and the need for estate planning, when it became obvious the boys were not going to assume ownership. If I already didn't know, it is now very apparent who rules the roost in the Frazier household. I guess Elizabeth is an imperious name. Thank God I didn't marry someone named Victoria. Moving to town, which I love. Actually looking forward to it. Half-acre lot, which is necessitated by our having seven dogs, or to look at it another way, the seven dogs have two parents. I'm not going to bore you with the ruling the roost scenario again.

The real estate market is looking very positive. I thought the puerile disaster called 'O'Bamacare was going going to throw it into mass confusion and disarray, but I guess not. Wealthy people overcome. If O'Bamacare were to be overturned the Nantucket property market would go bonkers, if, in fact, an inanimate object can go bonkers. With that said, I think I'll bonker on out of here. I'm relatively sure I'm not an inanimate object. Ouch. One of the dogs just bit me; that proves it.
 
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