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JPFCO

Nantucket Real Estate Updates

Jul 1, 2018       Issue: 389

J Pepper Frazier Company
Nantucket Beach Driving!
 
 New Listings VIEW ALL

Jul 5, 2019

Town
$3,495,000

Jul 5, 2019

Surfside
$3,895,000

Jul 5, 2019

Town
$2,750,000

Jul 5, 2019

Town
$3,595,000
 
 Recently Sold VIEW ALL 

Jul 3, 2019

Naushop
$1,265,000

Jul 2, 2019

Tom Nevers
$1,382,100

Jul 1, 2019

Monomoy
$19,000,000

Jul 1, 2019

Cliff
$5,295,000
 

GROUND NOTES FROM DALTON
  Is it on Nantucket?

Yes, it is on Nantucket and it is priceless. Wild the value differential just because different addresses - arbitrage anyone? For instance, do you know where Gingy Lane is? Maybe so, maybe not - most don't. It's an amazing location between Cliff and Town on a cul-de-sac, that always has that salty, soothing Nantucket breeze flowing down the Belgian block lane. You can walk to Town, gorgeous beaches, bike paths, The Westmoor Club, Coffin Park, Something Natural, and the list goes on and it's a dead end street. But, the houses there trade for far less than if they had a more well known address - "Cliff Road" - type addresses. Cliff Road has cache. Cache is intangible.

Case in point, back when my dad was running Nantucket real estate, the owner of a property on the corner of Madaket Road and Cliff Road couldn't sell his property. After many false starts and sleepless nights, he finally made the logical move and asked my dad to sell it for him. What'd my dad do? Changed the address to Cliff Road, raised the price 23% and sold it immediately for over ask. Same property, different address, different perspective, different market value. I mean, look at 74 Madaket Road - talk about value...

Quick stat. update, rounding to the nearest $5mm, first half closed volume:
'14 - $380mm
'15 - $310mm
'16 - $420mm
'17 - $390mm
'18 - $450mm

Happy Independence Day!
 
 

LET'S MAKE IT HAPPEN WITH PEPPER II
  The Best

The weather is wonderful and living on the Island is the best of the best. The best weather, the best fishing, the best waves, the best restaurants, the best beaches, the best shopping, the best people and of course the best real estate definitely on the East Coast but probably across the globe. ACK all the WAY!!! The other day a member of team JPFCO was walking to their car and saw that someone's car was dead. Time to make it happen. As we all carry jumper cables in our car; team JPFCO jumped the car. We got the car up and running, gave them our card. A week later they called in and bought a house. This is how we make it happen in more then one way at JPFCO. Come see for yourself and let's make it happen. Happy 4th to all.
 
 

RENTAL MARKET UPDATE
  Happy Fourth of July!

The 4th of July is upon us and boy are we excited! Enjoy events sponsored by the Town's Office of Culture and Tourism, these traditional Main Street events will be held from 10:00am - 12:30pm and include face painting, watermelon and pie-eating contests, a ring toss, and community sing-a-long. The event wraps up with the traditional water fight between the Town of Nantucket Fire Department and the Boynton Lane Reserves at noon. Note: The use of water balloons and high velocity water guns is discouraged. Also, this year's Fireworks display will be held on Thursday, July 5th at 9:00pm. This is such a memorable week of the Nantucket summer season!

Have fun and Happy Independence Day!
 
 

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