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JPFCO

Nantucket Real Estate Updates

Apr 1, 2014       Issue: 274

J Pepper Frazier Company
Frozen Ducks
 
 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
  Same Binoculars, Different View

Appraisers and real estate brokers come to market values differently. Appraisers are very analytical in their approach and rely heavily on past sales. They have a rigid method to derive value. An appraiser gives the value at that exact moment. A real estate broker's value moves with the market and anticipates where the market is going. A real estate broker also uses past sales, but takes a much more practical view. For instance, some appraisers will not consider a bedroom in a basement (that is to code) a bedroom because it is sub-grade. A real estate broker is going to consider that a bedroom because it is a bedroom. An appraiser also gives very little value to the development potential of a property. A real estate broker looks closely at development potential and largely bases his opinion on what can be done with the property. Both methods of deriving values have their uses. An appraisal is good for situations like tax planning where you want to know the value of your asset at that one moment; a broker's price opinion is good for pricing a property to go on the market for sale. So, if you are thinking of putting your property on the market, don't get an appraisal to see where it should be priced, get a broker to let you know where it should be priced.
 
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RENTAL MARKET UPDATE
  It's Spring!

And clean is the name of the game. That is, Spring cleaning for rental houses. Here are a few things to schedule now to get your rental house in top shape before those fast approaching summer months.

Schedule the plumber to de-winterize the house
Talk to the cleaners about an open house clean
Schedule the landscapers for spring clean up
Have your dryer vent cleaned
Assess your sheets and towels to ensure they are in good shape and not in need of replacement.

Lining up these services now makes for an easier summer transition.
    Nantucket Dryer Vent Cleaning  
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FEATURED RENTAL LISTING
4 Swain Street "Knot Leaving"

Walk to Town and beaches from this four bedroom, three bath home in a sought after Brant Point location. The house features an open kitchen, dining and living area with a fireplace and a 50' new flat screen TV. There is a back covered porch and deck and large yard with a grill. This is the perfect spot to relax and take in the best of what Nantucket has to offer.

June rents for $5800-$7500
July rents for $7500
August rents for $7500-$6500
  4 Swain Street 
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NANTUCKET REAL ESTATE NEWSWIRE
» Nantucket Company Presents 'Vandal' Premiere
» UMass Students Study on Nantucket
» New rules on ivory trade raise concerns on Nantucket
 

NOTES FROM PEPPER THE ELDER
  Gators and Gams

It's not a question of if, but rather of when. I'm referring to a massive surge in values on Boca Grande. Now I'm not much on philosophy, except, perhaps my own. But that well-known sage Robert Plant (he of Led Zep) once opined, 'I don't know, but I've been told that a big legged woman has no soul.'

Well Libby has great gams and lots of soul. She also has this knack of spotting a house and pairing it up with someone, usually sight unseen. She has never been wrong and just did it for the tenth time this morning in Boca Grande. Why bother with an office? Just send Libby out. Of course, at some point she'll want to be paid. I hope she doesn't read this. So if you have some spare money lying around, you could do worse than tangible assets on Nantucket or Boca Grande. Oh have I mentioned that before? Go Gators!
 
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