Rare & Last Opportunity for Vacant Land Near Steps Beach

The last available vacant land left on Lincoln Avenue. This 14,145 square foot lot has frontage on two streets. Boasting water views of Nantucket Sound and the harbor from this prestigious location with easy access to Steps Beach.  For more information on this exciting new listing, click here and contact listing agents Gary Winn or Kathy Gallaher.


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New Exclusive Listing in Sconset

This magnificent home is located in a spectacular setting in the prestigious, seaside village of Sconset on Nantucket’s eastern shore. Surrounded on three sides by pristine conservation land – native grasslands and dunes – ocean views can be enjoyed from every room in the house. As it is protected land, no structure can ever be built in front of the house, thereby ensuring the view. There is a very pleasant front and side yard, with beautifully-groomed hedges and flowering hydrangea in season, as well as a tranquil, lighted “secret garden” – a lovely spot to unwind with a good book. This is an idyllic, Nantucket vacation home!

Contact Listing Agent Gary Winn or by phone 508.330.3069.


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New Listing with Privacy & Convenience to Town & Cisco

Privacy and convenience to Town and Cisco Beach.  Renovated five bedroom home with central air-conditioning on a wooded half acre lot with room for expansion. Click here for listing sheet.  Contact listing agents Bernadette Maglione or Wayne Viera at 508.228.1881.


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New Nantucket Listing – Turnkey Near Town

All high-end finishes and custom woodwork in this well-kept, turnkey home on the edge of town abutting acres of open space.  Four floors of living space, including a finished third floor with full bathroom and a full basement with living room and play room. $1,120,000. Listed with Bernadette Maglione


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Home Sales Pace Increases in December

Home Sales Pace Increases in December

Home sales in December reached the highest pace in nearly a year. The gain coincided with other signs that the troubled U.S. housing market improved at the end of 2011. Sales of previously occupied homes rose 5% to a seasonally adjusted annual rate of 4.61 million in December, the National Association of Realtors said. It’s the best level since January 2011.

Sales rose on a seasonal basis more than 10% in the Northeast, 8.3% in the Midwest, 2.9% in the South and 2.6% in the West.

The third straight monthly sales increase was encouraging. And economists noted that conditions are in place for further gains this year: Prices have declined. Mortgage rates have never been lower. Homebuilders are slightly more hopeful because more people are saying they might be open to buying this year. And home construction picked up in the final quarter last year.

“There’s no denying that home sales are still very low,” said Paul Dales, an economist with Capital Economics. “But after having risen in each of the last three months … it is clear that a housing recovery is now well under way.”

“With layoffs slowing sharply, hiring rising and consumers’ confidence rebounding, the pre-conditions for a sustained recovery are falling into place,” said Ian Shepherdson, chief U.S. economist for High Frequency Economics.

– “Home Sales Pace Increases in December,” by Derek Kravitz, USA Today, Jan. 20, 2012.

 


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Nantucket Property News Latest Issue Feb 2

Click here to read cover to cover.


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Nantucket Property Journal Sept 23, 2011 Issue

Nantucket Property Journal Sept 23rd Issue.  Click here to read it cover to cover.


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Nantucket Property Journal Aug 2011


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Nantucket County ranks No. 1 in U.S. home prices

Boston Business Journal by G. Scott Thomas , The Business Journals

Date: Tuesday, September 27, 2011, 9:36am EDT – Last Modified: Tuesday, September 27, 2011, 1:58pm EDT

Nantucket is a playground for the well-to-do, a status that’s confirmed by its housing values.

The typical house in Nantucket County is worth more than $1 million, according to the latest figures from the U.S. Census Bureau’s American Community Survey. Indeed, the island community is the only U.S. county with a median house value expressed in seven digits. The runners-up are Marin County, Calif. (a San Francisco suburb), at $880,000, and New York County, N.Y. (better known as Manhattan), at $800,400.

Another 31 counties — a mixture of affluent suburbs and upscale resort areas — have median house values between $500,000 and $800,000. Dukes County, which includes Nantucket’s alter-ego in Martha’s Vineyard, ranked ninth nationally with a median home value of $686,800.

The database below contains the median and upper quartile values for all but one of the 3,143 counties and independent cities across the country. (No values are available for tiny Kalawao County, Hawaii, whose population is less than 100, so its spaces have been left blank.)

The median is the midpoint, a figure that’s higher than the values of half of a county’s homes and lower than the other half. The upper quartile is the price ceiling for three-quarters of those same houses.

Use the tab to focus the database on a single state, or simply hit Search to view the list in its entirety. Click any column header to re-sort the rankings.

Eight counties are above the $1 million mark in upper quartile value. Three are in California, two are in Colorado, and the others are in Massachusetts, New York and Wyoming.

http://www.bizjournals.com/boston/real_estate/2011/09/nantcuket-tops-in-nation-with-priciest.html

 


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The Long Term Fundamentals for U.S. Residential Real Estate are Sound

Analyst: “The Long Term Fundamentals for U.S. Residential Real Estate are Sound”

There are indications the worst of the downturn is close to over, according to GMO, the Boston-based asset manager led by legendary investor Jeremy Grantham. “The long-term fundamentals for U.S. residential real estate are sound,” writes GMO analyst Edward Chancellor. When the economy eventually recovers and unemployment declines, “household formation will rebound,” he said. “Home prices will pick up together with construction. Another housing boom will follow.”

Chancellor added:

  • Five years have passed since U.S. housing prices peaked. “That’s about the average amount of time it has taken for real estate markets to trough after previous housing bubbles.”
  • Valuations are no longer over-stretched. For the first time since 1981, median monthly mortgage payments are lower than rents. “Following the decline in long-term interest rates, this is one of the best times ever for Americans to buy a home.”

 

– “9 Signs of Hope for the Housing Market,” by Dan Burrows, CBS Moneywatch, Sept. 19, 2011.


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