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JPFCO

Nantucket Real Estate Updates

Jun 1, 2016       Issue: 334

J Pepper Frazier Company
Jetties Roof Walk Views
 
 New Listings VIEW ALL

Jul 26, 2017

Cliff
$5,975,000

Jul 25, 2017

Town
$2,495,000

Jul 25, 2017

Town
$895,000

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
  Cross Roads

The market remains strong ($309M closed YTD, compared to $245M in '15, which ended at $850M total and $290M in '14, which ended at $1B total). There are several factors for the strength, including interest rates, investment in hard assets and lifestyle investment, but one of the biggest reasons is Sellers, for the most part, are not overpricing or have adjusted their prices to the market.

Last year, sellers were getting too bullish for buyers and we ended up seeing 156 price reductions compared to 90 in '14. YTD we have seen 65 price reductions. Because of last years and this years price reductions many deals are happening and the market has strong momentum. Don't get me wrong, values have been going up, but at a sustainable rate. This time of year is when many properties come on the market and we are at a cross roads. Do sellers get ahead of themselves and price too high or do they listen to their broker, price at the market and keep the mo' going?
 
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LET'S MAKE IT HAPPEN WITH PEPPER II
  The Brave

Much Respect to the Men and Women who have fought and continue to fight to make and maintain this wonderful country we live in. I am a day dreamer and every day is better than the next; One reason is because I live on the lovely Isle of Nantucket. Thank you to the Men and Women in uniform making it happen so that we can live the great life we live.

Team JPFCO continues to shine because of the Brave and We Thank You!!!
 
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RENTAL MARKET UPDATE
  Summer here...Summer not...but you still could be!

With the Wine Festival and Fagawi/Memorial Day weekend behind us we are gearing up for the summer season! Shops and restaurants are open, lines are starting to form at The Juice Bar and parking is already a challenge! Many of our homeowners are excited to report that their prime high season weeks are rented but we still have many awesome rentals that have a few prime weeks left! So get your bags packed, make your reservations and book your JPFCO rental on our beautiful "faraway Island".

Click on the below links to discover two homes that are brand new to our rental program with many prime open weeks:

Our JPFCO team is always in the office and ready to answer your questions. We are here to help make the rental process as easy as possible and to provide the best fit for your Nantucket vacation experience! Give us a call today at 508-228-3202.
    Brant Point Breezes    Sconset Bungalow  
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FEATURED LISTING
7 Upper Tawpawshaw $2,295,000

Stately, large custom built home surrounded by conservation land. This gracious house was masterfully built and offers great curb appeal with a generous covered porch, and wonderfully planned back deck. There is a freshly painted gourmet kitchen, numerous French doors, multiple bonus areas including a downstairs office, and an upstairs TV nook. Other features include 2 solid stone fireplaces, large windows, cathedral ceilings, and expansive conservation land views.
  7 Upper Tawpawshaw 
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NANTUCKET REAL ESTATE NEWSWIRE
» UberAIR to Nantucket
» Kenny Loggins to Headline the Boston Pops Concert
» Nantucket Grand
» Rob Gronkowski and Julian Edelman on ACK
 

NOTES FROM PEPPER THE ELDER
  Emerald Isles

I never thought that I would wish for Irish weather, but that's the case: Here on Nantucket Isle. Just back from The Emerald Isle and we had a great time. The Irish are delightful. Their presence is one of the things that makes Boston such a great city. I had a hard time getting a handle on housing prices in Ireland. My best estimate would be 20-30% of Nantucket, which is almost as verdant (Emerald Isle II).

Well, it's time for another season. Strap on the cocktail glasses. A friend of mine (a rare commodity, you say) remarked that they had never seen so many liquor stores per capita. Well, that may be true. Combine the summer crowd with those fortunate enough to spend the winter on the properly named, Grey Lady, and you've got some optimum drinking conditions. I've never seen, much like an honest politician, a Nantucket liquor store go out of business. The Irish economy has vastly 'picked up,' which has a negative effect on Nantucket because the traditional Irish labor supply, which was originally imported by Walter Beinecke has, for the most part, elected to stay home. This coupled with the Jamaicans having trouble with their Visas has created a labor problem. Note the few restaurants open for lunch. That will teach them for doing things honestly.

Don't forget to water your lawn.
 
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JPFCO | 19 Centre Street Nantucket, MA 02554

Call Us: (508) 228-3202