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JPFCO

Nantucket Real Estate Updates

Jun 15, 2015       Issue: 308

J Pepper Frazier Company
'Sconset Views
 
 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
  Must See - Strong Value!

Last week, 3 Hulbert Ave. closed for $26.5mm and became the second highest, non-subdividable, single lot, residential sales in Nantucket history behind last year's sale of 9 Kimball Ave. for $27.16mm. That's a big number, but not compared to luxury real estate markets Nantucket is associated with, like Palm Beach, the Hamptons, Greenwich, Silicon Valley, New York City, etc.

Those markets have long blown through the $20mm mark and most, if not all, are onto the 9-figure mark. Trump's estate in Palm Beach - $100mm, a East Hampton estate - $147mm, Copper Beach Farm in Greenwich, $120mm, a Woodside (San Francisco) estate - $117.5mm, condos in NYC - $100mm+ and the list goes on. One could argue that these properties are massive estates with tons of acreage, or in the case of NYC, foreigners are essentially laundering money and driving demand, but then why did a 43 acre Nantucket waterfront estate only sell for $21.5mm or why there is a 56 acre waterfront estate for sale for only $35mm? I think the answer is that it's coming, so hold on. Nantucket is a very, very strong value!
 
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LET'S MAKE IT HAPPEN WITH PEPPER II
  Signed P&S

Summer is here and the weather is great. With great weather comes great fishing, great people and great times. With all the great, the deals can be a bit dicey at times but that is why you have team JPFCO to help make it happen. This brings me to a deal we were doing when the seller decided they just did not want to sell their house because they would miss the Island. To their disarray they had already signed the P&S. We try to stay away from lawsuits so this is when team JPFCO had to step it up and make it happen.

We suggested to the Buyer that they lease back the property to the Seller for 3 months at a fairly nominal fee but the Buyer's sub-contractors, architects etc... can have access to the property with 24 hours notice. The Seller and the Buyer agree to the suggested terms. In the interim team JPFCO finds the Seller a great house and everyone is happy. That is how you kill two birds with one stone and make it happen JPFCO style.
 
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RENTAL MARKET UPDATE
  Updating House Information

With the first day of summer right around the corner the Island is already bustling! Stores and restaurants have opened their doors and the summer police are out in force delivering those orange tickets! At this time of year we would like to ask our homeowners to take a moment to look at your property on our website and make sure all your house information is correct and up to date. We would also like to ask if you could please keep us up to date on the following information:

 WIFI network name and password
 Caretaker name & phone #
 Cleaner name & phone #
 How many cleaning hours are included in your rental rate
 Plumber name & phone #
 Lawncare name & phone #
 Electrician name & phone #
 Trash company name & phone # and days of pick-up
 Appliance repair name & phone #

In order to make this process as easy as possible please click on the link below, fill in your address, fill out the House Care Information section and submit. As always, thank you for listing your rental property with JPFCO and we will do our best to fill your vacant weeks.
    Homeowner Link  
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FEATURED SURFSIDE LISTINGS
Surfside Compounds For Sale

6 Pochick Avenue (pictured) $4,295,000 Surfside compound with all the bells and whistles and an amazing rental history. 6 Pochick Avenue

47 Boulevarde $5,295,000 This is the ultimate, newly completed Nantucket retreat. You'll never leave... 47 Boulevarde

9 Dunham Street $4,495,000 Newly completed in 2014, it has a 40' x 16' salt water pool and stunning outdoor spaces. 9 Dunham Street
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NANTUCKET REAL ESTATE NEWSWIRE
» Nantucket Specialty Manufacturing
» Nantucket Film Festival
» Miracle of the Bipede Bicycles in Nantucket History
» Stowaway Raccoon on the Loose on Nantucket
 

NOTES FROM PEPPER THE ELDER
  Amehe Phones and Hooves

Recently my wife (The Comely Libby) opined that she was tired of reading about Don Ameche. A curious sentiment, to be sure. Well first off, I'm glad that her time is well-spent, fretting over onerous matters. Second how can you grow weary of a man who invented the telephone (The Ameche Phone) and possessed the greatest American pencil thin mustache. I know Errol Flynn's was very boss, but he was from Australia. Tasmania to be precise. And I don't think Ricardo Molteban has a mustache. But he should. Ditto for Duncan Rinaldo. Now Gilbert Roland. Well, that's a pencil thin mustache, but I don't think he's an American. Chester Morris' was pretty good, good enough to have Buffett write a song about it. But not quite up there with The Amech. So we all agree then.

While on the subject of the Ameche Phone, I think it's rather odd that Siasconset, a village of vast wealth, would have the singly most antiquated phone system in the country. 'Sconseters probably think it's shabby chic. And maybe it is. It's about the only thing out-of-date. I have never seen so much rehabbing going on. Real estate is obviously the driving economic force, everything is connected to it, on the Island. Rentals are a major part of the equation. The Chamber of Commerce is to be highly commended. The Stroll, Daffodil Day, Restaurant Week, the Wine, Book, and Theatre Festivals. These are all periods of the year that were formerly 'flat-out' dead and now they're humming. Do you think a Pencil Thin Mustache Week would be a hit? It might be fun.

Which reminds me that in the next blurb, we will further annoy Libby by writing about a certain talkative quadruped.
 
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JPFCO | 19 Centre Street Nantucket, MA 02554

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