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Feb 15, 2017       Issue: 352

Nantucket Real Estate Updates

J Pepper Frazier Company

A 'Sconset Patio


 New Listings
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 Recently Sold
Mid Island$750,000
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bACK from Houston - whoa!!! Throw down... That was incredible! Touchdown Tom and Crew do it again! I watched it on re-run twice so far, so that's three times. Think about the run we've had - Federer/Nadal, Pats, Cubs, Cavs, 'Nova...

Houston has little to no zoning, which is one less, major barrier for the Invisible Hand to break. If you want to see how the economy is doing, go to Houston. Anything goes, which makes for an efficient, liquid economy. There were countless examples of a church being next to an apartment building, being next to a tattoo parlor, being next to a high-end restaurant, etc. On contrast, Nantucket has strict zoning, creating a big barrier to the Invisible Hand and therefore creating limited expectations and huge value; a few arbitrage situations, too...

  Wheeling and Dealing

As we wheel and deal through the Winter in Pats' country. A Buyer is stuck on a certain # and it is under the Seller's #. Time to make it happen JPFCO style. Through the power of whatever is unknown 2 most but known to us, Coincidence or DNA. Somehow the # threshold is revealed. Did this become because of negotiations, or does JPFCO know how to make it? I defer to the second. Another deal done; visit us at JPFCO or read about it in the paper.

  Only the Shadow Knows...

The chilly temps and the white blanket of snow on our cobblestone streets today make it hard to imagine that Spring is around the corner. I guess Punxsutawney Phil knows what he is talking about with an additional six weeks of winter.

We are also hoping that whether you are a repeat tenant or a new visitor to our island that you book your vacation rental now. Some of our properties are already booked for the high summer season so if you are thinking about a trip over, we suggest you book sooner then later.

Here are a few rentals that still have availability:
1 Maxey Pond Road/Cliff Area and open all of July and August
26 Pine Street/In Town Gem with many weeks still available
14 Old Westmoor Farm/ High end Cliff area and pet friendly
30 Madequecham Valley Road/Madequecham, waterfront and wide open
109 Baxter Road/'Sconset with panoramic Atlantic ocean views

 1 Maxey Pond Road 26 Pine Street 14 Old Westmoor Farm 30 Madequecham Valley Road 109 Baxter Road


  22 West Sankaty Road $3,895,000

Truly one of a kind historic revival, walk to the beach & all that Sconset has to offer, EVERYTHING has been custom built with the discerning buyer in mind. Featuring an open floor plan & high end finishes which include, white oak flooring, shiplap throughout, crown molding, brushed nickel hardware and exquisite custom tile. The home offers 4 bedrooms plus a bunk room, the space is comprised of sophisticated yet functional living space with all of todays modern amenities & bells & whistles. Sonos entertainment system, surround sound, many custom built-ins, recessed lighting & radiant floor heat throughout, just to name a few. The stylish, gourmet kitchen has great natural light, Granite counter tops & a Granite center island with wine fridge. All top of the line appliances, a 6 burner gas Wolf Range, matching paneled Sub-Zero blends nicely with the made-to-order cabinets and paneled Bosch dishwasher. A Rohl farmhouse country kitchen sink and retractable wall-mount pot faucet and pantry round out this exceptional chefs kitchen. Off the kitchen is a formal dining room with seating for 8 & a double sided wood burning fire place. On the other side of the fireplace is a large open living room with 50" flatscreen over the mantle, off of the living room is a 4 season sunroom great for entertaining year-round. Second floor boasts a luxurious master suite with HUGE master bath. Rejuvenate after the beach in this spa like sanctuary featuring his & hers separate Marble vanities, Sunrise skirted soaking tub, enclosed shower with glass door with rain fall shower head & Marble tiled floor with radiant heat, truly unique for the size of the home. Guest bedroom with en-suite bath, second floor sitting area & second floor laundry. This well thought out home has been completely re-built from the ground up, new foundation, 1,300 sq ft addition, new roof, new trim, new siding and 42 new custom Mahogany double-hung sound defining high efficiency windows. The outdoor area is a large brick patio great for summer grilling & dining Al Fresco. Outdoor shower, meticulously maintained, irrigated grounds with mature planting beds & Privet hedge complete this extremely rare offering in Sconset. This property is in MINT condition, start creating lasting family memories at this exceptional Sconset property. Abutting lot available for $1,150,000.00, house must sell before the lot or both offered as a package deal.
  22 West Sankaty

» Rectrix exceeds early goal for Nantucket Service
» Plan for 17 high-end Homes is Approved for Hawthorne Lane
» Nantucket Dreamland Presents Schoolhouse Rock
» Company of the Cauldron under new Ownership

  A Tale of Two Islands

More and more the Boca Grande real estate market resembles the Nantucket market of, let's say, ten years ago. The inventory is low and prices keep reaching new highs. Of course, it doesn't hurt that Nantucketers have discovered the place. In Nantucket they keep finding ways to circumvent zoning. All in the name of the sacred mantra of 'affordable housing.' Either you can or you can't afford the place and rules should not be changed to accommodate the less affluent. If they don't stop it, the wealthy will leave and along with them the financial foundation of the Island. That will really be a mess.

One island is run by liberals and the other one by conservatives. I'll let you guess which ones. One of the really detrimental things about 'affordable' housing is that it takes away the traditional seasonal jobs and drives out the college kids who, in my mind, are the life-blood of the Island. Nantucketers are New Englanders and, as such, usually find a way to rectify things. If they could overcome the discovery of kerosene, they can overcome anything. And they will. It's not too late.