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JPFCO

Nantucket Real Estate Updates

Apr 11, 2020       Issue: 435

J Pepper Frazier Company
Quarantine Clamming
 
 NEW LISTINGS VIEW ALL

Apr 8, 2020

Middle Moors
$895,000

Apr 8, 2020

Middle Moors
$895,000

Apr 7, 2020

Town
$2,395,000

Apr 1, 2020

Town
$3,250,000
 
 RECENTLY SOLD VIEW ALL 

Apr 10, 2020

Town
$3,300,000

Apr 7, 2020

Town
$5,000,000

Apr 7, 2020

Sconset
$2,850,000

Apr 3, 2020

Brant Point
$7,100,000
 

GROUND NOTES FROM DALTON
  On a Positive Note...

Interestingly enough, this pandemic is causing some people to want to buy more than ever on Nantucket. I had a client call me the other day and he said, "This pandemic has put my priorities in perspective. I love Nantucket. I can afford to buy, so what am I waiting for? Send me some listings and let's plan on getting a deal done when I'm there this summer." He understands the market is probably not going up in the short term, but he knows it inevitably will in the long run. Couple that with his purchasing power due to the historic low interest rates and he'll ultimately be making a great lifestyle and financial investment.

As you can see, 2020 was shaping up to be another strong year, but sales volume is a lagging indicator. So, will be telling to see where these numbers are next month...

Year over year comparison of YTD total volume:

'09 - $69mm *Lowest total yearly volume.
'10 - $117mm
'11 - $86mm
'12 - $109mm
'13 - $81mm
'14 - $190mm *$1bn+ year.
'15 - $175mm
'16 - $223mm
'17 - $199mm *$1bn+ year.
'18 - $289mm *$1bn+ year. Highest total yearly volume.
'19 - $182mm *$1bn+ year.
'20 - $202mm
 
 

LET'S MAKE IT HAPPEN WITH PEPPER II
  Certain in the Uncertainty

In this time of uncertainty we at JPFCO are certain that we will continue to make it happen for you. The other day a tenant voiced their concern that they may not be able to make it to the Island and wanted to see if the home owner would return their deposit. The Broker inquired with the home owner and since no travel ban has been placed on the Island the home owner said no. Time to make it happen. The Broker suggested to the home owner a scenario where the tenant would have up until a week before the commencement of the lease to decide wether they would come to the Island and pay the final payment unless of course the house was re-rented.

If the tenant did not come to the Island the home owner would refund half the initial deposit and reserve the same week for 2021 until 1/1/21 in which by that time the tenant had to put down another first payment. Team JPFCO helped turn an unideal situation into a better situation. We hope everyone and their loved ones are staying healthy and happy. We look forward to seeing all your smiling faces on ACK this summer.
 
 

RENTAL MARKET UPDATE
  Optimism

There have been many changes in the last few weeks that have made an impact to your life, the nation, and the world. A worldwide pandemic is not to be taken lightly, but it is important to find the good and to hope for the best. Although no one knows what could come at the end of April, Nantucket has seen many hopeful changes and we continue to stay optimistic upon entering the summer season.

Here is some good news from our little island 30 miles out to sea;
-There has been a six day streak without new COVID-19 cases on the island.
-The Nantucket community has been spreading hope and joy to those near and far, working together (6 ft. apart, of course) to donate, volunteer and be present to those in need. For example, positive posters have been put up around the island to thank those who are putting their life on line to keep ACK healthy and safe.
-Small businesses have been offering curbside pick up and restaurants are offering free delivery!
-A local flower company delivers beautiful flower arrangements to the assisted living facility, called the Homestead, to cheer up those who really cannot get outside.
-More people are taking time to soak up Nantucket's natural landscape by getting outside to walk, breath the clean air, and explore the island.

At J Pepper Frazier Company, we are staying up to date on all travel advisories, as well as working with our clients and homeowners to offer top notch customer service during this challenging time. As of today, we are hopeful the 'Stay at Home' order will be lifted come May 4th, still possibly giving you the summer to spend on your favorite island.

J.R. Tolkein once wrote, "There is some good in this world, and it is worth fighting for." Stay hopeful and optimistic, for there surely is good in our world today. Should you have any questions, please do not hesitate to reach out to one of our knowledgeable agents by calling 508-228-3202 or visiting us at www.jpfco.com.
 
 
FEATURED LISTING
26 Pine Street $3,495,000

This beautiful and thoughtfully renovated five bedroom Greek Revival home decorated by Orrick & Company of Greenwich Ct has been built to the highest standards and with the most luxurious finishes - is located in the heart of Nantucket in a quiet residential neighborhood with two generous off-street parking spaces. Three floors of impeccably designed space with five bedrooms, four and a half baths, several living rooms, three fireplaces and a sophisticated chef's kitchen offer magnificent space for large gatherings of family and friends. A private lower level, accessible either from the outside or within the house, features a spacious two bedroom guest suite with a family room with gas fireplace, gym, kitchenette as well as its own washer/dryer. Covered porches overlook historic Pine Street and two private patios complete the outdoor living space. There is central air conditioning and a central vacuum system throughout the entire house. Sold TURN KEY, fully furnished, just bring your suitcase! Must see to appreciate the quality, and workmanship. Renovations completed by Jeff Morash.
  26 Pine Street Link 
 
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One of the oldest and most experienced Nantucket real estate firms
JPFCO | 19 Centre Street Nantucket, MA 02554

Call Us: (508) 228-3202