Brian-Logan's Blog

Nantucket real estate market update - June 15, 2007

Brian-Logan Reid, Associate Broker, Realtor (Coffin Real Estate) — Sun, 15 Jul 2007 09:28:29 -0500

By: Brian-Logan Reid, Broker

Well Wine Festival and Memorial Day/Figawi came and went and the inventory continues to grow, despite a handful more properties going under agreement.

The entry level of the market, those properties under $1mm, appears to be growing in size and I anticipate some price softening as properties stay on the market longer and the would-be buyers who need financing will find it more difficult to secure affordable financing as lenders tighten up their standards.

The middle of the market, those properties between $1.5mm and $4mm, still shows strength, but only those properties that are priced correctly from the time they get listed; those properties that have been price reduced from inflated levels are not seeing the same action.

As may be expected, the upper end of the market, those properties over $5mm, looks to be growing in strength as buyers of these types of home buyers tend to purchase without financing and they have enjoyed gains in their other asset portfolios here in the US and abroad.

Breakdown of Properties		May 15, 2007			June 15, 2007
Single Family		353			400
Multi-Family		18			18
Condos		40			39
Co-ops		5			7
Commercial		16			17
Vacant Land		91			98
Total Properties		523			545
Properties Under Agreement
Accepted Offers		18			29
Executed Purchase & Sales		27			26
Total Under Agreement		45			55
Year To Date Statistics	Houses		Land	Commercial		Totals
Total Transactions	113		25	1		139
Total Dollar Value	$237,433,000		$48,999,000	$1,579,000		$288,011,000
Median Price	$1,495,000		$1,000,000	$1,960,000		$1,495,000
Average Price	$2,101,000		$1,960,000	$1,579,000		$2,072,000
Percentage of Assessed Value	127.25%		166.60%	153.65%		134.11%
Percentage of Asking Price	93.17%		89.42%	100%		92.90%

Please feel free to contact me if you or someone you know would like to discuss acquiring a Nantucket property.

Nantucket real estate market update - July 1, 2007

Brian-Logan Reid, Associate Broker, Realtor (Coffin Real Estate) — Sun, 15 Jul 2007 09:26:59 -0500

By Brian-Logan Reid, Broker

Well summer is officially here and the market appears to be picking up a bit along with the glorious weather! While the inventory continues to grow, there still are properties being acquired at all price points, which is a good sign. But with the growing number of properties on the market, I do expect some softening of prices particularly at the price point of $2mm and under (where the bulk of the inventory lies). It still remains the case that properly priced properties are still being gobbled up rather quickly (typically in less than 2-3 weeks).

These factors, though, bode extremely well for buyers who can still obtain historically low interest rates and who have many properties to choose from.

Below are some notes about the current inventory:

The least least expensive property on the market is 133B Old South Road, a studio condo with one bathroom, listed for $225,000
The most expensive property on the market is 37 Squam Road, a 7 bedroom, 8 bathroom oceanfront house on for $19,995,000. Interesting note: this is the house of Dennis Kozlowski (former Tyco CEO, now in jail), and it was REDUCED from $23.5mm...still way off IMO
Unofficially, the most expensive house that is for sale (but is NOT in our MLS system), is 7-11 Squam Road, the home purchased by Body By Jake owner Jake Steinfeld in 2005 for $10mm, which is for sale for $21,500,000...hmm...

Breakdown of Properties	15-May-07	15-Jun-07	01-Jul-07
Single Family	353	400	428
Multi-Family	18	18	20
Condos	40	39	43
Co-ops	5	7	7
Commercial	16	17	15
Vacant Land	91	98	98
Total Properties	523	545	611
Properties Under Agreement
Accepted Offers	18	29	32
Executed Purchase & Sales	27	26	29
Total Under Agreement	45	55	61

As always, please contact me with any questions about the market or if you or someone you know is interested in acquiring a property or securing a rental!

Nantucket real estate market update - July 15, 2007

Brian-Logan Reid, Associate Broker, Realtor (Coffin Real Estate) — Sun, 15 Jul 2007 09:25:26 -0500

By Brian-Logan Reid, Broker

Perhaps prompted by the warmer weather, the buyers have stepped up and started acquiring Nantucket real estate again. Following the typical seasonal pattern, the late spring/early summer is showing that buyers are stepping back into the market, even though it is not at the same pace as the past two or three years.

According to the "Real Estate Report" (Nantucket Indpendent, 7/11/2007), there have been 193 total transactions worth about $331 million, while the same period in 2006 saw a total of 249 total transactions worth about $484 million.

Other notes from the report:

for the first time in five years, the average and median home sale prices and the average and median land sale prices has fallen from 2006
in the first half of 2007, 71% of sales occurred over $1 million; 53% of sales occurred over $2 million; 6% of sales occurred under $1 million
prices range from a $225,000 mid-island condo to a $21.5 million oceanfront estate in Squam

A note of good news is that properties at all price tiers are selling: houses under $1 million (which will always continue to sell well, as this is the entry level of the market), but also properties at the $2, $4, $6, and even $9 million tier are moving, which is good in that there does not appear to be any specific tier that is not moving. A few years ago there was as an abundance of properties between $2 and $3 million that just sat and sat on the market for many months until they either were taken off the market or eventually sold.

What I am gathering from all of this data is that we are finally returning to a more stable market but I would not go as far as calling this a 'buyer's' market. It may be more adventageous for buyers right now because of the large number of properties on the market, allowing them to pick and choose and compare homes, but most properties are still being purchased close to their asking prices, so prices are not falling precipitiously like in several other areas of the country. Also, it is important to remember that markets are cyclical and do not always go up...ANY market be it the stock market or the real estate market. The Nantucket market may be slighly insulated from the mainland in terms of price buoyancy, but it is not impenetrable as we now see.

At this stage, I'm advising my seller clients who are considering listing their properties and adding to the very high inventory level, to work with me to set accurate and realistic asking prices. Fortunately for the majority of Nantucket property owners, they do not NEED to sell so they are not adding more inventory to the market. My buyer clients, on the other hand, are enjoying taking their time browsing lots of properties and have no qualms about submitting 'low-ball' offers, even when they are outright rejected - this is what you can do when the market leans in the buyers direction.

As always, feel free to contact me with questions or if you are interested in acquiring a property!

Breakdown of Properties	15-May-07	15-Jun-07	01-Jul-07	15-Jul-07
Single Family	353	400	428	433
Multi-Family	18	18	20	21
Condos	40	39	43	49
Co-ops	5	7	7	7
Commercial	16	17	15	15
Vacant Land	91	98	98	104
Total Properties	523	545	611	629
Properties Under Agreement
Accepted Offers	18	29	32	28
Executed Purchase & Sales	27	26	29	31
Total Under Agreement	45	55	61	59

A high-end foreclosure on Nantucket? SOLD! One luck guy got a great deal...

Brian-Logan Reid, Associate Broker, Realtor (Coffin Real Estate) — Sat, 23 Jun 2007 14:50:31 -0500

I just got back from an proper bankruptcy auction at 209 Polpis Road. This 5,784 SF, 5 bedroom, 5.5 bathroom oceanview estate is situated on 4.1 acres in Polpis with first and second floor views of Polpis Harbor. Included in the estate are Guest Quarters, a pool and tennis court.

Although not as exciting as I think I was expecting, the bidding started at $3.7mm, and through about 6 or 7 bids, got up to $4.1mm. Then, just before saying "SOLD" the auctioneer called for a recess, contacted the owner and returned to reveal that the price was acceptable to the owner and that if no other bids were placed, then the high bidder - at $4.1mm - would win the auction. No one else stepped up, and one lucky fellow walked away with a great deal.

The property was listed with an agent last year for $6.5mm and it (obviously) did not sell. The property assesses for about $5mm, so it appears that the new owner has at LEAST a million dollars of cushion to play with. Will he flip it for a cool million or more? Will he keep it and enjoy it with his family? We'll find out!

Historic Point Breeze Hotel to be converted into luxury condos - condo-hotel anyone?

Brian-Logan Reid, Associate Broker, Realtor (Coffin Real Estate) — Thu, 31 May 2007 13:28:21 -0500

By Brian-Logan Reid, Broker

The renovation of the historic Point Breeze Hotel will not be returned to a hotel as previously thought, but will essentially be converted into a condo-hotel. There will be 32 private one to two bedroom suites as well as six on-site cottages that will sell for $1 to $3 million. According to a press release, Palm Beach developer Robert "Bob" Matthews notes the need for such a place on Nantucket. "On an island where private clubs enjoy considerable cachet and the demand for private homes far exceeds supply, Point Breeze is destined to become Nantucket's most celebrated address...For a select few, this will be a rare opportunity to enjoy the island's ultimate luxury retreat."

The Point Breeze will still operate as a hotel where people can stay and dine at the restaurant, but the rooms will be owned individually and the luxury amenities - world class spa and salon, fitness center, swimming pool, tennis, wine tasting bar, cigar bar, full service concierge, and underground parking - will be enjoyed by the condo owners and members of the club.

As part of a five hotel/resort project planned by Bob Matthews, the other locations that are being developed besides Nantucket include Aspen, CO, Stowe, VT, Palm Beach, FL, and a 600-acre island in the Bahamas and club members will have reciprical access to the other resort locations's amenities once the project is fully developed.

For more information, check out The Point Breeze website, or the Nantucket Independent article

CEO's and celebrities on Nantucket? You bet!

Brian-Logan Reid, Associate Broker, Realtor (Coffin Real Estate) — Sun, 20 May 2007 15:03:59 -0500

By Brian-Logan Reid, Broker

I was in the Grand Union grocery store yesterday and saw Daphne Zuniga (remember Spaceballs!?), which got me thinking about all the VIP's that own property or frequent Nantucket. So I thought it would be interesting to compile an unofficial list of the folks that I know that own "houses" or have visited the 'grey lady':

Current or previous owner's of Nantucket real estate:

Eric Schmidt - CEO - Google
Tommy Hilfiger - owner - Tommy Hilfiger Inc.
Jack Welch - former chairman/CEO - GE
Louis Gertsner - former chairman/CEO - IBM
John Kerry/Teresa Heinz - Senator/Heinz Corp. heir
Bob Wright - CEO - NBC Universal
Roger Penske - owner - Penske Corporation/Penske Racing
Michael Kittredge - owner - Yankee Candle
Arie (Coco) Kopleman - president - Chanel
Bill Belicheck - head coach - New England Patriots
Abigal Johnson - Fidelity Investments heir
Lee Iaoccoa - formerly of Chylser Corp.
Michael Egan - former chairman - Alamo Rent-A-Car
Kathy Lee Gifford - celebrity
Jerry & Ben Stiller - actors
Tim Russert - host - Meet the Press
Chris Matthews - host - Hardball
Paul Soros - businessman (brother of George Soros)

Others that have been to or frequent Nantucket:

Bill Clinton - former President
Laura Bush - current First Lady
Bill Gates - chairman - Microsoft
Warren Buffett - Berkshire Hathaway
Jim Carrey - actor
Sharon Stone - actress
Heather Graham - actress
Mike Tyson - boxer
Paul Giamatti - actor
Brian Williams - host - Nightly News
Katie Courac - host - CBS Evening News
Dr. Bob Arnot - chief medical correspondent - NBC
Herb Chambers - owner Herb Chambers (and his 197' yacht Excellence III)
Jimmy Buffett - musician

These are just the ones that I know...there are probably many others...

New land and property listings - May 14, 15, 2007

Brian-Logan Reid, Associate Broker, Realtor (Coffin Real Estate) — Tue, 15 May 2007 14:17:17 -0500

New land and property listings - May 14, 15, 2007

Here are the new listings that came on the market yesterday and today:

83 Goldfinch Drive - Naushop - $1,395,000 - 4 bedrooms, 3.5 bathrooms
22 Sherburne Turnpike - Cliff - $3,495,000 - 4 bedrooms, 3.5 bathrooms
24 Clarendon Street - Tom Nevers - $995,000 - 3 bedrooms, 2.5 bathrooms

Yesterday:

137 Hummock Pond Road - Hummock Pond - $1,295,000 - Vacant land
17 Deer Run Road - Hummock Pond - $1,200,000 - Vacant land
107 Sankaty Road - Sconset - $2,100,000 - Vacant land
9 Fisher's Landing Road - Warren's Landing - $1,525,000 - 3 bedrooms, 2.5 bathrooms

New Nantucket property and land listings - May 7, 2007

Brian-Logan Reid, Associate Broker, Realtor (Coffin Real Estate) — Mon, 07 May 2007 15:14:22 -0500

Here are the new listings that came on the market today:

56 Goldfinch Drive - Naushop - $1,495,000 - 3 bedrooms, 3.5 bathrooms
5B Salros Road - Mid0Island - $479,000 - Vacant Land

New Nantucket property and land listings - May 1, 2007

Brian-Logan Reid, Associate Broker, Realtor (Coffin Real Estate) — Wed, 02 May 2007 12:16:43 -0500

Here are the new home and land listings that came on the market:

110 Orange Street - 2nd Floor - Town - $849,000 - 1 bedroom, 1 bathroom
110 Orange Street - 1st Floor - Town - $795,000 - 1 bedroom, 1 bathroom
96 Baxter Road - Sconset - $2,575,000 - 4 bedrooms, 3.5 bathrooms
3 Washington Avenue - Madaket - $2,725,000 - 2 bedrooms, 3.5 bathrooms
306 Polpis Road - Polpis - $4,295,000 - Vacant land
133 Old South Road - Mid-Island - $298,000 - 0 bedrooms, 1 bathroom

New Nantucket property and land listings - April 30, 2007

Brian-Logan Reid, Associate Broker, Realtor (Coffin Real Estate) — Tue, 01 May 2007 11:07:57 -0500

Here are the new home and land listings that came on the market:

48 Meadow View Drive - West of Town - $899,000 - 2 bedrooms, 1.5 bathrooms
21 Friendship Lane - Mid-Island - $1,374,000 - 6 bedrooms, 4 bathrooms
21 Friendship Lane (Main House) - Mid-Island - $925,000 - 4 bedrooms, 3 bathrooms
21 Friendship Lane (Covenant House) - Mid-Island - $449,000 - 2 bedrooms, 1 bathroom
15 Beach Street - Sconset - $1,595,000 - 3 bedrooms, 3 bathrooms
7 East Lincoln Avenue - Brant Point - $2,195,000 - 4 bedrooms, 2 bathrooms

New Nantucket property and land listings - April 26, 2007

Brian-Logan Reid, Associate Broker, Realtor (Coffin Real Estate) — Thu, 26 Apr 2007 12:39:06 -0500

Here are the new listings that came on the market today:

28 Flintlock Road - Tom Nevers - $1,675,000 - 3 bedrooms, 3.5 bathrooms
22 King Street - Sconset - $3,250,000 - 5 bedrooms, 3.5 bathrooms
1 Milestone Crossing - Mid-Island - $2,595,000 - 4 bedrooms, 4.5 bathrooms
3 Sea Fox Circle - Mid-Island - $890,000 - 4 bedrooms, 3 bathrooms

New Nantucket property and land listings - April 25, 2007

Brian-Logan Reid, Associate Broker, Realtor (Coffin Real Estate) — Wed, 25 Apr 2007 14:40:58 -0500

Here are the new listings that came on the market today:

59 Orange Street - Town - $1,995,000 - 4 bedrooms, 4 bathrooms
14 Wood Hollow Road - Tom Nevers - $1,750,000 - 5 bedrooms, 2+ bathrooms
5 Yompasham Lane - Nashaquisset - $1,289,000 - 3 bedrooms, 2.5 bathrooms
111 Orange Street - Town - $1,748,000 - 3 bedrooms, 2 bathrooms
23 Prospect Street - Town - $1,465,000 - 3 bedrooms, 2.5 bathrooms
37 Surfside Road - Mid-Island - $1,195,000 - 4 bedrooms, 3 bathrooms

New Nantucket property and land listings - April 24, 2007

Brian-Logan Reid, Associate Broker, Realtor (Coffin Real Estate) — Tue, 24 Apr 2007 15:56:29 -0500

Here are the new property listings that came on the market today:

6 Seven Mile Lane - Sconset - $2,620,000 - 3 bedrooms, 4 bathrooms
315 Polpis Road - Polpis - $4,450,000 - 3 bedrooms, 2.5 bathrooms

Proposed rental fee for long-term rentals - anyone else have these?

Brian-Logan Reid, Associate Broker, Realtor (Coffin Real Estate) — Tue, 24 Apr 2007 12:41:52 -0500

I went to an open forum meeting last night regarding a proposition from the Health Inspector who wants to levy an annual fee ($100) to all home owners who rent their properties out for longer than 31 days.

As Nantucket is mainly a seasonal area, and whereby most homeowners who rent their property out, this would have a very broad and far-reaching effect for not only the owners but also many thousands of tenants.

I cannot even begin to put into words how difficult it is for tenants to find housing for the season (May to October) or for the summer (June, July and August).

Here are the main issues from the Health Inspector's side:

The Health Inspector has seen 'deplorable' conditions that would 'make the hair on the back of your neck stand up'. Conditions such as tenants sleeping with their feet against furnaces, tenants living in basements with dirt floors, tenants living in basements without access to kitchens, tenants "doing their business" in bushes, etc.
The H.I. wants to levy this fee so that he can increase the size of his department and try and rectify these 'sub standard' living conditions
"All it is going to take is for one catastrophe for this issue to come more to light"

I will try to outline the myriad issues from the tenant's, the landlord's, and the real estate agent's side:

The already very tight inventory of 'affordable' properties on Nantucket is hard enough to find and fill - this measure would only DECREASE the amount of housing
Tenants that are living in these sub standard housing units cannot afford anything else and, as a result, will not report their landlords to the H.I. because they have no other place to go
Landlords that rent out some of their houses (e.g. renting rooms out for the summer) in order to cover their mortgages would suffer financially if this income goes away
Landlords would be responsible for rectifying the rental units and this additional financial burden may not be able to be paid for
If the landlord does rectify the situation, the more than likely result would be an increase in rent, thereby making it even further unaffordable for tenants
From my (real estate agent's) perspective, this would provide a DISincentive for investors to purchase rental properties that are not 100% compliant with MA sanitary laws (someone said that 99% of all properties would not pass a rigorous inspection)
It is understood, but not spoken of, that the majority of the people living in these sub standard rental units are minorities that are here working their tails off and keeping the service industry running...what happens to the local economy if they leave (as a result of being unable to find affordable housing)?
Assuming for just one minute that this program moves forward, could one even begin to imagine the logistical and practical matter of actually trying to get all of these owners to register their properties? The H.I. himself believes that it would take in the area of 5 YEARS to register the properties!

There are so many other issues that I just do not have the time to type about, but here's the basic premise. It is the H.I.'s job to try and keep the public's health as safe as possible. Understood. But this approach does not seem to be the answer and only would excerbate the dire housing situation.

I've heard that this sort of rental housing certification program exists in other parts of the country and I would love to hear how it works.

New Nantucket property and land listings - April 23, 2007

Brian-Logan Reid, Associate Broker, Realtor (Coffin Real Estate) — Mon, 23 Apr 2007 15:25:08 -0500

Here are the new properties that came on the market today:

4 Skyline Drive - Surfside - $1,349,000 - 3 bedrooms, 2 bathrooms
3 Sandpiper Way - Tom Nevers - $1,395,000 - 3 bedrooms, 2 bathrooms
16 Evergreen Way - Surfside - $1,695,000 - 4 bedrooms, 4.5 bathrooms

Does anyone else sell RE in an area where you CANNOT post For Sale signs?

Brian-Logan Reid, Associate Broker, Realtor (Coffin Real Estate) — Mon, 23 Apr 2007 13:44:40 -0500

On my lovely island of Nantucket, neither real estate agents nor FSBO's can post For Sale signs in a property's yard! Due to the fact that the entire island is considered a Historic Landmark, and under the watchful eye of the Historic District Commission (HDC) which governs all exterior changes, expansions, etc across the island, real estate agents cannot post for sale signs. While I've seen some crafty folks put the signs in the windows facing out, I just wanted to see if anyone else lives in an area where this is the case.

Also, so how do I attract buyers when they cannot just drive around and look at the properties for sale?

Additionally, agents on Nantucket very rarely (if ever) host public open houses. We do host open houses for the other agents and brokers, but not for the general public. Does anyone see this as being a bit odd??

Mark Goldweitz - setting the bar for Nantucket historic restorations

Brian-Logan Reid, Associate Broker, Realtor (Coffin Real Estate) — Sat, 21 Apr 2007 14:06:58 -0500

He's done it again! With his latest restoration completed and sold at 93 Main Street (the "East Brick" - which is now the most expensive residential sale in Town at $10,500,000), I'm sure he's on the hunt for his next (ad)venture.

Mark Goldweitz is known throughout Nantucket, and I imagine throughout New England, for his beautiful historic restorations. While there are other investors that are doing renovations and restorations on the island, no one even comes close to Mark's track record. Let's look at his completed projects to date (sorted by most expensive sold):

Address	Purchased	Date Purchased	Sold	Date Sold
93 Main Street	$6,800,000	September-05	$10,500,000	April-07
141 Main Street	$3,500,000	December-04	$8,975,000	November-05
37 India Street	$1,600,000	September-04	$3,975,000	July-05
3 Charter Street	$1,792,000	May-04	$3,750,000	January-05
80 Orange Street	$1,425,000	July-05	$3,375,000	July-06
25 India Street	$1,505,000	October-03	$3,325,000	June-04

Click here to learn more about the "East Brick" project...

Click here to learn more about the history and see photos of the finished "East Brick"...

New Record! Historic "East Brick" at 93 Main Street sells for $10,500,000

Brian-Logan Reid, Associate Broker, Realtor (Coffin Real Estate) — Sat, 21 Apr 2007 13:37:02 -0500

The historic "East Brick", one of the three Georgian style mansions on Main Street, built by whaling merchant Joseph Starbuck for his three sons (circa 1835), has undergone an extensive restoration and after only being on the market for about 8 months, has sold for $10,500,000 (listed price: $11,850,000).

This is now the most expensive, single family residential sale in Town, followed only by Mark Goldweitz's OTHER historic renovation of 141 Main Street (which sold for $8,975,000)

New Nantucket property and land listings - April 19 & 20, 2007

Brian-Logan Reid, Associate Broker, Realtor (Coffin Real Estate) — Fri, 20 Apr 2007 14:28:35 -0500

Here are the new properties that came on the market yesterday and today:

59 Orange Street - Town - $1,995,000 - 4 bedrooms, 4 bathrooms
3 Cornish Street - Brant Point - $3,395,000 - 5 bathrooms, 3.5 bathrooms
58 Goldfinch Drive - Naushop - $569,000 - Vacant land
19 Hussey Street - Town - $495,000 - Vacant land
22 Hussey Street - Town - $2,395,000 - 4 bedrooms, 3.5 bathrooms
4B Goldfinch Drive, #B - Naushop - $650,000 - 2 bedroom, 2 bathroom condo
24 Equator Drive - Mid-Island - $1,099,000 - 3 bedroom, 1.5 bathrooms

New Nantucket property and land listings - April 18, 2007

Brian-Logan Reid, Associate Broker, Realtor (Coffin Real Estate) — Wed, 18 Apr 2007 14:04:32 -0500

Here are the new listings that came on the market today:

1 Dovekie Court - $1,275,000 - Naushop - 5 bedrooms, 4.5 bathrooms
1 Equator Drive - $750,000 - Mid-Island - 3 bedrooms, 3+ bathrooms
9 Lily Street (Sconset) - $1,495,000 - 2 bedrooms, 1 bathroom
8 Evergreen Way - Surfside - $1,695,000 - 4 bedrooms, 4.5 bathrooms

Nantucket properties with Purchase & Sale Agreements - 4/17/2007

Brian-Logan Reid, Associate Broker, Realtor (Coffin Real Estate) — Tue, 17 Apr 2007 14:23:45 -0500

Here are the properties that have fully executed Purchase & Sale Agreements:

Price	Original Price	Address	Areas	Type	Beds	Baths
$380,000	$415,000	39 B Essex Road	Miacomet	Single Family	2	1
$399,900	$419,900	19 B Essex Road	Miacomet	Condo	4	3
$439,000	$439,000	37 Old South Road #15	Mid Island	Condo	2	2
$442,000	$442,000	1 Equator	Mid Island	Single Family	2	1.5
$459,000	$459,000	71 Hinsdale Road	Mid Island	Land	0	0
$519,000	$519,000	2 Dennis Drive	Mid Island	Single Family	3	2
$559,000	$559,000	46 Macy's Lane, Rear Unit	Mid Island	Condo	3	3
$569,000	$569,000	46 Macys Lane, Front Unit	Mid Island	Condo	3	3
$685,000	$685,000	111 Hummock Pond Road	Hummock Pond	Single Family	2	1
$798,000	$798,000	2 WAYDALE ROAD	Mid Island	Single Family	2	1
$850,000	$850,000	13 Doc Ryders Drive	Miacomet	Land	0	0
$899,000	$899,000	27 Appleton Road	Mid Island	Single Family	3	3.5
$1,095,000	$1,095,000	65 Meadowview Drive	West of Town	Single Family	2	2.5
$1,195,000	$1,195,000	0 Off Rugged Road	Mid Island	Single Family	4	3.5
$1,195,000	$1,195,000	0 Off Rugged Road	Mid Island	Single Family	4	3.5
$1,275,000	$1,275,000	0 Off Rugged Road	Mid Island	Single Family	4	3.5
$1,295,000	$1,295,000	16 Pilgrim Road	Cliff	Single Family	3	2.5
$1,295,000	$1,295,000	10 Still Dock	Town	Single Family	1	1
$1,295,000	$1,295,000	6 Flintlock Road	Tom Nevers	Single Family	4	3
$1,350,000	$1,350,000	14 SWAYZES DRIVE	Miacomet	Single Family	3	3
$1,350,000	$1,350,000	26 Lyons Lane	Tom Nevers	Single Family	5	3+
$1,395,000	$1,395,000	25 Sesapana Road	Mid Island	Single Family	4	3.5
$1,579,000	$1,579,000	49A Pleasant Street	Town	Commercial	0	0
$1,590,000	$1,590,000	19 E Lincoln	Brant Point	Single Family	2	2
$1,595,000	$1,595,000	312 Polpis Road	Polpis	Single Family	2	3
$1,595,000	$1,595,000	13 N Liberty Street	Town	Single Family	3	2
$1,675,000	$1,675,000	20 Creek Lane	Fishers Landing	Single Family	4	3
$1,965,000	$1,965,000	17 Meadow View Drive	South of Town	Single Family	5	5.5
$2,250,000	$2,395,000	27 Longwood Drive	Tom Nevers	Single Family	5	3.5
$3,195,000	$3,195,000	22 Wigwam Road	Madequecham	Single Family	5	4.5
$3,250,000	$3,250,000	40 Orange Street	Town	Single Family	4	3.5
$3,595,000	$3,595,000	23 Orange Street	Town	Single Family	5	5+
$4,295,000	$4,295,000	71 Squam Road	Squam	Single Family	5	1.5
$4,750,000	$4,750,000	12 Coffin Street	Town	Single Family	4	3
$4,950,000	$8,995,000	29 Baxter Road	Sconset	Single Family	6	5

Nantucket properties with Accepted Offers - 4/17/2007

Brian-Logan Reid, Associate Broker, Realtor (Coffin Real Estate) — Tue, 17 Apr 2007 14:18:21 -0500

Here are the properties that currently have Accepted Offers (but NOT executed Purchase & Sale Agreements):

Price	Original Price	Address	Areas	Type	Beds	Baths
$609,000	$609,000	6B Park Circle	Mid Island	Condo	3	2.5
$619,000	$619,000	11 Pine Tree Road	Mid Island	Single Family	2	1
$629,000	$659,000	98 Hinsdale Road #A	Mid Island	Condo	2	2.5
$979,000	$979,000	52 Somerset Road	Miacomet	Single Family	4	4.5
$999,000	$999,000	13 Sandpiper Way	Tom Nevers	Single Family	4	2
$1,175,000	$1,175,000	4 Curlew Court	Naushop	Single Family	3	2.5
$1,450,000	$1,450,000	20 Longwood Drive	Tom Nevers	Single Family	3	2.5
$2,200,000	$2,200,000	29 Westmoor Farm	Cliff	Land	0	0
$2,495,000	$2,495,000	25 Orange Street	Town	Single Family	5	5
$2,500,000	$2,500,000	3 Dolphin Court	Brant Point	Single Family	4	4.5
$2,695,000	$2,695,000	13 Pond View Drive	Miacomet	Single Family	4	2.5
$3,250,000	$3,250,000	0 New York Avenue	Madaket	Single Family	3	1
$3,250,000	$3,250,000	. Esther Island	Madaket	Single Family	3	1
$11,850,000	$11,850,000	93 Main Street	Town	Single Family	7	8.5

New Nantucket property and land listings - April 17, 2007

Brian-Logan Reid, Associate Broker, Realtor (Coffin Real Estate) — Tue, 17 Apr 2007 14:02:00 -0500

By: Brian-Logan Reid, Broker

Here are the new properties that came on the market today:

1 Dooley Court - Surfside - $1,775,000 - 4 bedrooms, 2.5 bathrooms
28 Chuck Hollow Road - Tom Nevers - $1,275,000 - 3 bedrooms, 2.5 bathrooms
15 Long Pond Road - Madaket - $1,950,000 - 4 bedrooms, 3.5 bathrooms
28 Miacomet Avenue - Miacomet - $1,445,000 - 3 bedrooms, 2.5 bathrooms

Feel free to contact me to view these or any listings for sale on Nantucket.

New Nantucket property and land listings - April 16, 2007

Brian-Logan Reid, Associate Broker, Realtor (Coffin Real Estate) — Mon, 16 Apr 2007 12:03:28 -0500

Here are the new listings that came on the market today:

2 Cachalot Way - Surfside - $1,295,000 (vacant land)
44 York Street - Town - $1,595,000 (3 bedroom, 2 bathroom house)
5 North Liberty Street - Town - $3,295,000 (4 bedroom, 3 bathroom house)

Tax rate going down again as total island property valuation tops $20 billion - from I&M

Brian-Logan Reid, Associate Broker, Realtor (Coffin Real Estate) — Thu, 12 Apr 2007 13:09:56 -0500

Source: Inquirer & Mirror

Despite the cooling island real estate market, property values have continued to rise, leading to a drop in Nantucket's tax rate for the current fiscal year...

...beginning July 1, 2007, (the property tax rate) will be $2.49 per $1,000 of assessed value (that means a property that is assessed for $1,000,000 will pay $2,490 in property taxes!!)...

The islands total property valuation is currently $20.38 billion, making Nantucket the fourth most valuable community in Massachusetts behind only Boston, Cambridge and Newton...

The residential tax rate was $2.84 last year, and has consistently decreased for several years.

"Values go up so the rate must go down, " Dilworth (Town Assessor) said, referring to Proposition 2 1/2, the state law that restricts the amount of tax revenue that can be collected in a given year.

For the 1,991 island homeowners who have registered for the residential exemption, the average year-round tax bill will be $2,569.

In 2006, the average Massachusetts tax bill was $3,801, Dilworth said, and the average tax rate was $10.73 per $1,000 of assessed value.

In 2006, Nantucket had the third-lowest tax rate in Massachusetts behind Chilmark on Martha's Vineyard and Gosnold in the Elizabeth Islands, according to the assessor's office...

For the full story, see the Inquirer & Mirror soon (full article not currently available)