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JPFCO

Nantucket Real Estate Updates

May 15, 2015       Issue: 306

J Pepper Frazier Company
Naushop Cherry Blossoms
 
 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
  You Know You Are on Nantucket When...

You have to take your HVAC contractor to lunch to get his cell phone number and he still does not give it to you. I know it was a tough winter and everyone got behind, but this is a crazy time on Island. Wages have been going through the roof. A year ago, a general contractor charged his carpenters out at $45/hr., now the carpenter is making $45/hr. and the GC is charging them out at $65/hr. Almost 50% rate increase in a year! And, it is hard to find workers. This phenomena makes sense, though. Simple supply and demand. Also, year-round rental rates are climbing steadily. Rising wages draw supply, which pushes up the demand for housing, which pushes up rents, which means wages have to be higher so the worker can afford to live. Both wages and rents will continue to rise as long as supply has not met demand, which it has not, yet. Once it does, your HVAC contractor will give you his cell phone number and maybe, just maybe, he'll pick it up.
 
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LET'S MAKE IT HAPPEN WITH PEPPER II
  Sale of a Rental Property

With Summer on it's way, families are gearing up for their Nantucket vacation home. We have a multi-generational property for sale. We bring them an offer with the closing in June, the problem is part of the family has already made their summer plans on Nantucket. Time to make it happen JPFCO style. We propose that we close the deal in June and then the buyer leases back the property to part of the family that has their summer plans for a $1.00. This is how we made it happen and have wrapped up one families Nantucket memories and opened up another.
 
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RENTAL MARKET UPDATE
  Wine not reserve your summer rental…still time!

Wine Festival 2015 is in full swing with the opening reception last evening and the Gala this evening featuring 40 exquisite wine pairings. Winemakers, Chefs and guests arriving daily and enjoying our beautiful Spring weather. Many of our tenants arrive today and are looking forward to this weekend's festivities! Speaking of tenants, there is still plenty of time to book your summer getaway to our faraway Island. The quiet charming village of Nashaquisset still has some great open weeks available at the following homes:

9.5 Nickanooose
http://www.jpfco.com/nantucket-rentals-vacation-houses-9-5-Nickanoose-Way-Nashaquisset-nantucket-ma-2684.html

22 Washaman
http://www.jpfco.com/nantucket-rentals-vacation-houses-22-Washaman-Ave-Nashaquisset-nantucket-ma-2685.html

6 Paupamo
http://www.jpfco.com/nantucket-rentals-vacation-houses-6-Paupamo-Way-Nashaquisset-nantucket-ma-2663.html

Enjoy all this private neighborhood has to offer including brick pathways, beautiful landscaping, community pool, sun deck, tennis courts and easy access to the Surfside bike path.

Give our office a call at 508-228-3202 to speak to your favorite JPFCO agent or to the agent on duty. We look forward to helping you find your next vacation rental home!
 
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FEATURED LISTING
2 Quaise Pastures Road $3,750,000

Privacy abounds at this sprawling compound designed by Gwynne Thorsen. Available for the 2015 season, this unique, secluded property encompasses more than 4 acres, and includes a spacious main house, cottage and garage/studio. A lovely hedged arbor entryway, numerous stone paths and walls, sweeping lawn and meticulous landscaping and a pond, lend to a true estate feel. The main house features an open floor plan, 3 levels, a gourmet kitchen, 3 gas fireplaces, painted pine floors, two first floor ensuite bedrooms, second floor master suite and an outdoor shower. The house was thoughtfully designed for entertaining with many interior and exterior gathering areas, while the spacious cottage and garage apartment are perfect for hosting family and guests. Convenient location to West Polpis Harbor, Quidnet Pond, Atlantic Ocean, Sconset Village and Altar Rock. Bike Path and public transportation across the Street on Polpis Road. Great investment property with significant potential for rental income. In addition, there is Deeded Beach access to West Polpis harbor, making this private compound a boater's dream!
  2 Quaise Pastures 
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NANTUCKET REAL ESTATE NEWSWIRE
» Nantucket Wine Festival
» Robert Towne to Receive Screenwriters Tribute at 2015 Nantucket Film Festival
» Nantucket Housing Squeeze
» Selectmen Focus on Lack of Decorum at HDC
 

NOTES FROM PEPPER THE ELDER
  bACK

Well, back on the rock; not a bad place to be, to put it mildly. Eddie Rabbitt said 'I love a rainy night.' Well I love a foggy day and boy, so far, have we got them. The exception is, of course, if you're at the airport. Nantucket is a neat place. It's incomprehensible that it would ever be compared to the Vineyard; by and large, the Vineyard is a dump replete with the junior varsity, so to speak. They fall all over themselves to rub elbows with someone like Henry Louis Gates (if you pardon the expression,) the 'PBS Writer', I can't imagine that he can get across the street by himself. I'll grant you that the west end of the Island is not bad.

Things are absolutely gangbusters in Boca Grande. Anything anywhere near the village, barely makes it to the market. Why, you say, don't people put their properties on for a higher price? Because Boca brokers emphasize the negatives of a house. It doesn't have this or that. On Nantucket we do the opposite. Guess who are the better brokers? Nantucket is on a roll. Make no mistake about it. And if you're contemplating buying, foot dragging, will indeed, be a mistake.
 
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JPFCO | 19 Centre Street Nantucket, MA 02554

Call Us: (508) 228-3202