Great Point Properties Market News

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A FAST START
The first 2 months of 2012 are off to a very positive start.  Nantucket real estate sales have expanded 47% in transactions and 64% in dollar volume over the same time period of 2011. 

Nantucket real estate market report chart - February 2012

Although it is a bit early to suggest this will be harbinger for the entire year it is a heartening sign.  In addition there are some other metrics that point to an improving market. This chart is a snap shot through the end of February:


Nantucket real estate market report table - February 2012

Over the last 2 years inventories are down and contracts and sales up.  As result the pace of price reductions has slowed.  All these factors point to an improving sales market. Today Buyers still have a great opportunity to buy.  If the above trends continue, that window maybe closing.

Nantucket

Billionaire Thomas Peterffy is Listing Greenwich Estate for $65 Million

Monday, July 27, 2015

Hungary-born billionaire Thomas Peterffy , a pioneer of computerized stock trading, is listing his 80-acre estate in Greenwich, Conn. for $65 million. Mr. Peterffy’s house and most of the outbuildings were originally built in the early 1900s as part of a country estate.

Source: www.wallstreetjournal.com

Weekly Mortgage Applications Rise as Average Loan Size Shrinks

Monday, July 27, 2015

Call it groundhog week. Mortgage application volume barely moved at all, eking out a 0.1 percent gain on a seasonally adjusted basis for the week ending July 17 from the previous week, according to the Mortgage Bankers Association (MBA). Volume, however, is better than a year ago by just over 8 percent.

Source: www.cnbc.com/

Summer Resident Completes Cross Sound Swim

Monday, July 27, 2015

Grant Wentworth departed from Seagull Beach in West Yarmouth at 4:25 a.m. this morning and swam the entire way to Nantucket, arriving at Great Point 12 hours and 54 seconds later.

Source: www.ack.net

Neighbors and Property Lines

Monday, July 27, 2015

Two years ago, we bought a house with a shed and a landscaped garden in the backyard. The previous owner had built a stone wall to enclose the garden and erected a deer fence along what appeared to be the property line. Last summer we had a survey done that showed that eight feet of the stone wall, two feet of the shed and part of the fence are on our neighbor’s land. Do we have any recourse, and if so, what might it be?

Source: www.nytimes.com

GPP