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JPFCO

Nantucket Real Estate Updates

Jun 1, 2018       Issue: 387

J Pepper Frazier Company
A Tom Nevers Trail
 
 New Listings VIEW ALL

Sep 20, 2018

Town
$2,995,000

Sep 20, 2018

Town
$1,350,000

Sep 19, 2018

South Of Town
$895,000

Sep 19, 2018

Town
$925,000
 
 Recently Sold VIEW ALL 

Sep 18, 2018

Town
$1,740,000

Sep 18, 2018

Hummock Pond
$1,195,000

Sep 17, 2018

Middle Moors
$2,300,000

Sep 17, 2018

Cisco
$2,000,000
 

GROUND NOTES FROM DALTON
  Should I List or Should I Not?

For the most part, I am a firm believer in if you want to sell your property, put it on the open market. That way it will be exposed to the most amount of buyers, therefore creating the most demand. For instance, 5 Hulbert Ave., the Heinz/Kerry property, was quietly marketed for sale for $25mm without being put on the Multiple Listing Service or advertised anywhere. Then, a couple years later, they decided to put it on the open market and advertise it for $22.9mm. By that time, word had gotten out that they had moved to the Vineyard and the house was empty. It's an amazing property, so what could have been a climatic entrance into the market turned very anti-climatic and stale. It sold for $17.5mm. Their neighbor at 3 Hulbert Ave., which is about as identical to 5 as you'll get on Hulbert Ave., as close to a perfect comp., put their property on with a big splash and told the world, our property is for sale, bring it on. Sold for $26.5mm in 48 days.

However, there are one-off instances where not putting the property on the market, the Seller can get a higher price than putting it on the market. Case in point, 8 Stone Post Way just sold for $5mm, which most would agree is a shocking amount. If it was put on the open market, the consensus of market value would be in the $3mm's, and probably low $3mm's. But, the abutter wanted it and probably told the Seller to name their price - $5mm and it is yours. I'll take it.

So come on and let me know...
 
 

LET'S MAKE IT HAPPEN WITH PEPPER II
  Splitting Proceeds

We are excited and Welcome the bloom of Summer!!! The other day team JPFCO was doing multiple deals. We have a Seller that wants to 1031 into another property but their property has not sold but it will sell. Time to make it happen JPFCO style. We decide to put the targeted property under agreement and the Seller of said property will split the proceeds with Buyer of their property above a certain threshold.

This is how we make it happen at JPFCO.
 
 

RENTAL MARKET UPDATE
  Rainy Day Fun

It's June 1st and summer is here, does it feel like it?! 2018 presented us with an unusually chilly spring, leading to delayed summer weather. We enjoyed a taste of gorgeous weather this week but alas, the rain and fog are back! We hope once the skies clear, the summer sun will shine uninterrupted, but in spite of our optimism, we know that rain clouds have a way of unexpectedly showing up over this little island. Here are some Grey Lady day activities to get you through til your next Nantucket beach day:
*See a movie at the Dreamland 508-332-4822 or even out at the Sconset Casino
*Visit The Life Saving Museum 508-228-1885 or The Antheneum 508-228-1110
*Plan a Nantucket style homemade feast of lobster and clams! Or, a fun international menu, have a Mexican fiesta night or Caribbean night!
*Go for a swim at the indoor community pool 508-228-7257 X1353
*Write some postcards to friends and family
*Check out a live theater performance, you can find info about show times in the Inquirer & Mirror
*Take an art class at The Artists Association 508-228-4487
*Visit The Farmer's Market, downtown on Saturday's
 
 
FEATURED LISTING
1 Weetamo Road $9,595,000

Surrounded by nearly 14 acres in the exclusive Weetamo neighborhood, this gorgeous home was meticulously designed by Botticelli & Pohl to captivate the sweeping views over conservation land leading to both Polpis and Nantucket Harbor. This unique property offers privacy and features a well constructed 5 bedroom main house, infinity pool, cabana/garage, and expansive landscaping with gardens and bluestone patios. In addition, the property has deeded beach access and mooring rights across the street.
  1 Weetamo Road 
 
NANTUCKET REAL ESTATE NEWSWIRE
» Real Estate Sales Smash Records On Nantucket As Wealthy Buy Beach Houses
» Land Bank Allows Major Golf Tournament at Miacomet
» More Hyline Troubles
» Nantucket Looms Turns 50
 

NOTES FROM PEPPER THE ELDER
  Foolishness

It seemed like a good idea at the time. Or did it? In any event, we just bought a new 'joint' in Florida. Not to replace our existing house (no, of course not), which is really cramped; It only has five extra bedrooms and as many baths, plus Libby and I, and of course, along with our menagerie, are the sole inhabitants. So go figure. There is also a guy named Igor in the basement. But I can't figure out who he is.

As with Nantucket, I am betting that contrary to popular belief Boca Grande is significantly undervalued So here we go again. Anybody want to rent a couple of rooms in Boca Grande? Igor included.
 
 
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JPFCO | 19 Centre Street Nantucket, MA 02554

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