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JPFCO

Nantucket Real Estate Updates

Sep 15, 2014       Issue: 285

J Pepper Frazier Company
Sesachacha Pond Views
 
 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
  The Greatest Place on Earth

There's a reason demand is high for Nantucket real estate, it's the greatest place on Earth. I know I am biased because I live here (and own a real estate firm), but I constantly hear this from vacationers and year-rounders alike. That's a strong statement, which makes it amazing how consistently I hear it. My friend just got back from traveling the Greek Islands and he said they were very nice, but don't hold a candle to Nantucket; Nantucket is paradise. He lives in Pasadena, but there is a reason he still comes back to the Grey Lady in the middle of winter. Besides her sheer beauty, the amazing historic aspect, the restaurants and downtown, the people and culture, so many activities to do, there are a ton of amazing events throughout the year on Island. I went to the Holidays for Heroes fund raiser/party on Saturday night, middle of September - it was a stunning event. How about The Nantucket Project that starts on September 26th?! What an amazing think tank project that has become. Julian Assange is going to present as a hologram. Whether you agree with him or not - that's big time. As another friend said, that will put Nantucket on the global stage. Think that will spike demand??? The Greatest Place on Earth!
 
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RENTAL MARKET UPDATE
  2014 Rental Trends

Top Requests: Air conditioning, pools, professionally decorated and Clean, clean, CLEAN!

Booking multiple weeks, 2014 folks wanted to stay 2 plus weeks.

Biggest Complaint: AC and ice maker problems. Although our summer wasn't a hot one, Tenants really appreciate these amenities, or are unhappy when things don't function properly. Gotta have ice for your poolside drink, right?

J Pepper Frazier Company has noticed that houses booked earlier for the 2014 season. Many 2014 Tenants booked their lease at the end of 2013, which gave them many more options instead of waiting until the Spring of 2014.

Town and Brant Point continue to be the most requested island locations with Cisco as a close third.

Following the trend of 2013/2014, Tenants are wanting to rebook early. We have had dozens of repeat booking requests as well as new requests for 2015, and we are only mid-way through September!
 
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FEATURED LISTING
67 Orange Street $1,375,000

COBBLER'S COURT. Tucked away, three bedroom, three full bathroom home in the heart of Town. Quiet setting with private patio and beautifully landscaped garden, and newly renovated bathrooms. Wood-burning fireplace, vaulted ceilings, parking and entryway off Orange Street and gated access off Fair Street. Great rental history!
  67 Orange Street 
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NANTUCKET REAL ESTATE NEWSWIRE
» The Nantucket Project
» Nantucket fire still keeping emergency crews busy
» School Boom on Nantucket
» Nantucket, A Microcosm of a Changing Region
 

NOTES FROM PEPPER THE ELDER
  Supply and Demand on Nantucket

The Byrds theme of 'Turn, turn, turn' is certainly applicable to Nantucket real estate. The only sure thing in this real estate market is that it is going to go 'Up, up, up.' But where? The Huzienga house on Hulberrt Ave. sat on the market for God knows how long and then Wham! Three offers in one day. Now it wouldn't last a week. Same for the Huttons' in Squam. On the market for three or so years and now Squam is 'red' hot and setting record prices. One day everything in 'Sconset is selling and suddenly nothing.

You never know what's in vogue and why. The only constant is town. Town always sells and is getting to the point where any 'good' house is going to fetch north of $6,000,000. That's not to say that if a certain area is not all the rage that values will go down, because they won't. Also Nantucket has a trick card in the deck. Rentals. Houses always rent and can diminish the pain of an extensive holding period. I know of no better investment than Nantucket real estate. You might want to buy a few shares of Alibaba next week but that would be a quick in and out and, hence, ordinary income. Nantucket is my cup of tea.
 
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