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JPFCO

Nantucket Real Estate Updates

May 15, 2014       Issue: 277

J Pepper Frazier Company
Spring Daffodils
 
 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
  'Round and 'Round

Feels like we are on the brink of completing a full boom, bust, boom cycle. Prices are moving up and are, in some cases, moving beyond '05/'06 highs. 22 Cliff Road is a great example of this. It sold on 2/4/05 for $1.425M. Sold again on 9/30/09 for $1.15M. It came back on the market on 5/5/14 for $1.425M. It has not sold, yet, so we do not know market value, but I imagine it will sell this season close to that price. Traditionally, the next boom creates new peaks and where the last boom left off becomes the new mean. I think that will hold true for this cycle and this boom feels different in that banks are not handing out money to anyone with a pulse. The lending standards are much stricter than the last boom, so the buyers are either very qualified or cash. Should cause for a more sustainable rise. So, if we are at the mean, this Nantucket wave is still peeling and there is plenty of riding left.

"Well the joint was jumpin', going 'round and 'round, Hey! realin' and a rockin', what a crazy sound, Well they never stopped rockin' till the moon went down." - CB/GD

Awfully bright out...
 
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RENTAL MARKET UPDATE
  Nantucket Wine Festival

The Nantucket Wine Festival is now in full swing with the ever popular Harbor Gala tonight at the White Elephant. The Wine Fest is five days of 50 events ranging from the sold out seminar Bubbles and Claws: Veuve Clicquot Champagne and Lobsters, to the elegant wine dinners, and fun Jr. Chef competitions. There is a culinary marketplace filled with live cooking demonstrations, wine education galore, and it all concludes with the masterful Grand Tasting where guests get to experience over 600 different wines from over 150 prestigious wineries from around the globe.

With this event, the island comes alive with amazing wine and an eclectic group of visitors. This magnificent celebration creates an ambiance of shared love of wine and food. This weekend, more than others, seems to bring out people who have never experienced the island before, visiting foreign Chefs and Sommeliers abound. While the festival itself is something to be remembered, we are sure our new visitors will never forget our Nantucket island.
    Nantucket Wine Festival  
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FEATURED LISTING
2 Exeter Street $1,250,000

Situated in serene Tom Nevers, this expansive family compound has a three bedroom, three and a half bath, upside down main house with two master suites, a two bedroom two bath guest house, private pool with a gazebo and a slate tile patio, all surrounded by an expansive beautifully landscaped yard.
  2 Exeter Street 
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NANTUCKET REAL ESTATE NEWSWIRE
» Planning Board Approves New Stop & Shop
» Hy-Line gets SSA OK for Fast Ferry
» Millie's Approved for Limited Expansion
» Wine Time in Nantucket
 

NOTES FROM PEPPER THE ELDER
  Altoona

We've gone over, referred to really, some of the great places in the world of which I have first hand knowledge. Nantucket, Boca Grande, Bermuda, Boston, Sydney, Margaret River (West Coast of Australia), Antigua, Charleston, Cape Town, and Sarasota. Then there are the old whipping boys: New Bedford, Fall River, Albany and Columbus. I'm not going to bring up Orlando, (the city or the singer)... I have neither the time nor the stomach to do so.

So sweeping the table, as they say in croupier school, and putting these gems aside, let's see whom we've missed. Ah yes, there it is, the worst city I've ever had the misfortune to visit. The envelope, please. Ladies and Gentlemen. Syracuse. And nobody came in second. What a dump. Absolutely, nothing to recommend it. Jim Boeheim must be one hell of a coach to lure those guys up there. There's not much I like about California. Pacific Heights in San Francisco is quite nice, but, from my perspective, that's about it. One caveat: I've never been to San Diego, but, all in all, I must agree with Fred Allen who said, 'California is a great place to live, if you're an orange.' I've never been to Austin either, but I'm pretty sure I'd like it. You see, I'm a Willie, Waylon and the Boys type of guy. I was fully prepared to dislike Dallas/Fort Worth, but I really liked them both. Those two towns have had a positive presence on Nantucket for as long as I can remember (let's see, where was I yesterday?) I love people who enjoy their money and Texans do. I mean, what's the point of being Carl Icahn? Well that's about it. Oh I almost forgot: Palermo, Sicily. Awful. So spend more time on Nantucket and be thankful: You could be exiled to Altoona.
 
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