|Apr 9, 2021|
|Apr 9, 2021|
|Apr 8, 2021|
|Apr 7, 2021|
|Apr 7, 2021|
GROUND NOTES FROM DALTON
|Not going to go into the opportunities, which there are many, around Hot Springs, Arkansas, the town where Al Capone was known to relax and President Bill Clinton worked, but hopefully I got your attention.
The market remains robust. Here is a perfect example of how robust and how the Nantucket real estate market stays robust over the long run. 51 Milk Street, a 1,565 sf 3 bedroom, 2.5 bath house built in 1992 on a 5,227 sf lot, sold for $254,500 on 6/2/94, then for $625,000 on 4/29/03, then, after landscaping and driveway improvements, for $1,225,000 on 10/26/05, then after some renovations, for $1,358,100 on 4/21/17 and now it is under agreement for, I'm guestimating, $1,950,000. Not much appreciation between '05 and '17, but each sale price surpassed the previous sale price. Over the long run, real estate values go up, especially on Nantucket.
YTD Sales Volume as of April 11 in $ mm's
2009 69 Lowest total yearly volume
2014 190 $1bn+ year
2017 199 $1bn+ year
2018 289 $1bn+ year
2019 182 $1bn+ year
2020 202 $1bn+ year. Record year at $1.86bn.
I recommend strapping on your rocket boosters because this is going to be a wild ride...
LET'S MAKE IT HAPPEN WITH PEPPER II
|Creativity is Key|
|We love to raise the bar and bring property values up across the board. From duplexes to waterfront, we are making it happen.
In raising the bar it takes the broker's ingenuity to create value. There was a house and cottage with the house fronting on one street and the cottage fronting on another street. Perfect setup for a subdivision.
We were able to creatively subdivide the property and separate as though they had always existed separately. Our next move in making it happen is to price the properties appropriately. If you price the property too high, it will sit. If you price it too low, you are doing a disservice to your client and reflecting negatively on the market.
We priced the properties using the JPFCO skill set, and it was a success. Both properties received offers a few percentage points from asking, raising the overall value of Nantucket real estate. Making it happen rain, snow, sleet or shine! Happy Spring!!!
|RENTAL MARKET UPDATE|
|J Pepper Frazier Company x Gofer - A Summer 2021 Opportunity
|The early weeks of spring always bring a certain air of anticipation to Nantucket Island. Typically we are just days away from the return of our guests and seasonal residents for Daffodil Festival. Though this year the celebration will be modified in a continued effort to keep COVID-19 cases low, the feeling of spring energy cannot be denied.
With so much to look forward to this year, J Pepper Frazier Company is excited to announce a new summer offering that is sure to enhance your vacation experience. For the months of June, July, and August, JPFCO has partnered with Gofer Nantucket, a grocery delivery and stocking service. After a hugely successful launch in the summer of 2020, Gofer has refined their operation to allow more reservations, and just for J Pepper Frazier Company clientele.
Here's how it works: Tenants and homeowners alike can visit the Gofer Reservation Portal through the link below, reserve a delivery spot on the day of your arrival, and secure a reservation. That's it! In the weeks prior to your arrival, you will be able to customize your grocery order directly on the Gofer platform.
No need to wait in the lengthy Stop n' Shop summer lines - all of your beach snacks, breakfast goods, and afternoon noshes will be waiting for you at home!
For more information and to secure your grocery stocking reservation, please visit the link below!
|3 Traders Lane - $4,695,000|
|A Stunning Contemporary Renovation of one of Nantucket's beautiful Historic Homes and on one of the island's most sought after downtown locations. Located steps to the cobblestoned Main Street, Traders Lane is quiet, tucked away, picturesque and surrounded by historic Whaling Captain estates. The well-appointed five bedroom, five and a half bath home was transformed in 2014 by one of the island's leading developers using only the highest quality materials and craftsmanship. The open floor plan offers stylish and functional finished living spaces with plenty of room for family and friends to gather. The outdoor living areas provide privacy as French doors lead to a large covered blue stone patio and well-landscaped yard surrounded by mature plantings and trees, a firepit and gorgeous stonewall. History converges with today's modern amenities and chic design, offering all that a discriminating buyer could ask for. And, right in the heart of historic Nantucket. Features include; Gourmet Kitchen, Open Floor Plan, Original Antique Reclaimed Wide Plank Kings Pine flooring from the late 1700's throughout, Original Beams, Central AC, Multiple Shiplapped areas, Indoor Gas Fireplace, Exquisite Custom Tile, Gorgeous Lighting Fixtures, Outdoor Lighting, Alarm System, Indoor/Outdoor Sonos, Beautiful Landscaping, Built Ins, Off Street Parking, New 2020 A/C Condensers and so much more. Available for summer of 2021!|