Charts & Graphs 2011

We are often asked “What do you do in the winter?”.  Which makes us ponder what it is that we like about living on Nantucket all year long, even in the winter.  One of our agents put it so well:  “Living on island year round gives you two extremes.  We live in a place that people run to come the summer months and our population swells to over 60,000.  What is better than to live where other people want to be?  I think what most people don’t know is how nice it is here come the winter months. These months are necessary to all that live here year round.  It gives us time to slow down and recharge our batteries for the upcoming year.  It gives us time to stop, enjoy and maybe remember what is really important.  I think what I really enjoy about Nantucket winters is getting back in touch with those people who live here full time and see how things are going in their lives and in the community.  In the summer things are too busy to actually do that.  It just might be the winter months that make me stop and realize what a beautiful place I live in.”  More things that we like about living on Nantucket in the winter:  Clamming, the social aspect of getting groceries – you know so many people in the winter that you always see someone to stop and chat with, solitary beach walks, bike rides and runs at Sanford Farm.  The quiet and lack of snow and when the wind blows and kicks up the ocean.  I can drive to Sconset in 10 minutes, no lines at the Stop & Shop, I can get into restaurants without a reservation, the peace and quiet.  Two of my favorite things to do in the off season are experience a Nor-easter in Madaket and taking a walk in Ram’s pasture with our dogs. Watching my daughter pond skate in Quaise as the sun is setting, taking advantage of the sales in the stores, knowing almost everybody at the grocery store and in restaurants and the holiday decorations lining Main Street and in the store windows.  What I really enjoy is going to a restaurant at lunch time.  Why?  Two reasons.  First, because I don’t have to worry about making a reservation and second, and more importantly, because I will generally know more than half the people in the restaurant and I can catch up on both social and business items.  Enjoying fresh scallops, the solitude of a beach with no one but seagulls around, knowing everyone at the drug store lunch counter, post office and church.  Knitting and making baskets.  Planning with island non profit boards for the upcoming season.  Time to watch movies and try new recipes.  Enjoying the role as island caretakers until our summer residents and visitors return.  Having the time to help visitors plan their summer vacations.  There are lots of things to love about Nantucket that are ONLY in the winter….the crisp clarity of the nighttime winter sky is incredible for star watching, seeing satellites, shooting stars and various constellations.  The ability to be spontaneous – you are able to run to the supermarket, park, shop and be back home in minutes if you have a sudden craving for homemade tiramisu or crab cakes.  Walking – everywhere – poison-ivy free woods, collecting windswept shells in Dionis, the icy shoreline of Madaket harbor, watching seals and birds from the ‘Sconset Bluff and running into friends everywhere that actually have time for a little “chinwag”.  The Tuesday night $5 burger at Kitty’s.  Town Meeting in late winter, time to make music with the community orchestra and the variety of weather conditions from sodden gray days to howling storms.  I learned a long time ago that you can be outside in all conditions if you layer up.  And I appreciate the sun more when it doesn’t shine every day.  These are a few of our favorite things.

If you are interested in booking a rental for this summer, do not wait!  Many of the homes in high-demand locations such as on the water, and in the Cliff, Brant Point, Town and Sconset areas have many weeks booked already for this coming summer.  The earlier you plan your vacation to Nantucket, the greater your options will be.  It helps to have your rental locked in when the Steamship Authority starts to take summer vehicle reservations – NOW!

We handle over 600 carefully selected rental homes in a variety of sizes and locations.  In high season a modest house within walking distance of the ocean rents for $3000 per week and we handle an estate with a pool and the best harbor view for $50K per week.  The majority of rental homes are in between these prices. Rental rates are highest in August, the time period in most demand, July typically is slightly less and then in June and September the rates can be considerably lower.  If you have schedule flexibility you can get a great value for your rental dollars.  And, if you have not yet been to Nantucket in the shoulder seasons, it is truly one of the best times of the year here.  Restaurants and shops are open, the weather can be great, navigating is less hectic and there are some fun spring and fall activities such as Daffodil weekend, Wine Festival, Film Festival and Cranberry Harvest weekend.  Contact one of our experienced agents for more insight into renting the perfect island home.  We have a large inventory of quality homes and make every effort to arrange for smooth sailing vacations. Please check out our comprehensive website at NantucketRealEstate.com

A house on .71 of an acre at 23 Madaket Road sold to BEAMACK, LLC of Chevy Chase, Md. from Michael K. Holdgate and Dawn E. Holdgate of Nantucket, Mass. for $1,910,000. The property is assessed at $1,263,500. The Land Bank fee is $38,200.

A house on 4.1 acres at 315 Polpis Road sold to the Sankaty Head Golf Club of Siasconset, Mass. from M & T Bank of Buffalo, N.Y. for $1,600,000. The property is assessed at $1,992,400. The Land Bank fee is $32,000.

A business on .63 of an acre at 3 Waydale Road sold to Walter J. Glowacki of Nantucket, Mass. from NEPCO Fund, LLC of Boston, Mass. for $575,000. The property is assessed at $725,800. The Land Bank fee is $11,500.

A business on .44 of an acre at 67 Surfside Road sold to 67 Surfside Road, LLC of Nantucket, Mass. from Katherine J. Hemingway of Nantucket, Mass. for $564,000. The property is assessed at $496,900. The Land Bank fee is $11,280.

A house on .14 of an acre at 20 Macy’s Lane sold to Jareb Z. Keltz and Vikturiya Keltz of Nantucket, Mass. from Nicholas P. Judson of Nantucket, Mass. for $342,000. The property is assessed at $361,300. The Land Bank fee exemption is M.

A vacant lot on .23 of an acre at 69 Surfside Road sold to Peter Kyburg and Randy Riseborough of Nantucket, Mass. from Katherine Hemingway of Nantucket, Mass. for $225,000. The property is assessed at $265,000. The Land Bank fee is $4,500.

A house on .45 of an acre at 11 Black Fish Lane sold to Linda Graef Jones of Bronxville, N.Y. from Bedminster International, Inc., Trustee of Burnell Street Nominee Trust, of Nantucket, Mass. for $2,150,000. The property is assessed at $883,500. The Land Bank fee is $43,000.

A vacant lot on .76 of an acre at 2 Winn St. sold to ZEKE DOG, LLC of South Dartmouth, Mass. from Cornelius B. McCrudden and Ethel K. McCrudden of Old Saybrook, Conn. for $1,600,000 the property is assessed at $584,500. The Land Bank fee is $32,000.

A house on .18 of an acre at 12 Washington Ave. sold to Michael E. Mooney, Trustee of Washington Avenue Realty Trust, of Boston, Mass. from Donna M. Pino of Boston, Mass. for $1,350,000. The property is assessed at $1,289,800. The Land Bank fee is $27,000.

The Yearbook is the most complete guide to the Nantucket real estate market of 2011.  It is full of information on sold properties (with pictures) and market data.  It will be available by the end of February and will be posted on our web site. Please contact us if you would like a hard copy sent to you.

We believe very strongly that, if the goal is to sell your property, it must be priced right when it is first brought to the market.  Although so many things in real estate are unpredictable, this is not one of them.  We can cite numerous examples of properties selling for less than they would have if they had been priced to the market initially. Sometimes selling after being listed for more than 4 years!  The other issue at play in pricing is to evaluate your level of motivation.  If you “do not really care when I sell” then you should wait for a stronger market than one in which you are competing with those who have to sell now. Sometimes, depending upon market conditions, even those properties that are priced correctly will take longer than a year to sell.

Don’t get confused about the assessed value of your property versus the appraised value.  The assessed value is the value set by the town and is not by itself an accurate indicator of market value.  The entire island undergoes a revaluation, required by the Mass. Dept of Revenue, every three years. The purpose of establishing the assessed value is to set the property tax rate for the Town of Nantucket. The appraised value is a professional opinion of the market value of your property at a specific moment in time and is prepared by a licensed appraiser.

The Brokers at Atlantic East Nantucket Real Estate are very experienced in property and market evaluation.  We offer a confidential Broker Opinion of Value report, substantiated by hard market data. If you would like professional help in evaluating your Nantucket property please contact your Broker.

2011 Year End Market Review

SOPHISTICATED BEACH HOUSE

Space, light, quality construction and fabulous details define this 5 bedroom home.  Beautifully designed for contemporary living and entertaining.   $2,395,000 UF

Listing Broker:  Heidi Drew

 MORE FOR YOUR MONEY!  

Four bedroom, 2 bath home and a two car garage with a two bedroom, one bath apartment above.  Located on a quiet dead end street central to everything the island has to offer.  $595,000.

Listing Broker:  Erikka Perkins