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Welcome back everybody for another deep dive.

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This time we're going to a place that I think a lot of people have heard of,

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but maybe not everybody has had the pleasure of actually visiting.

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We're going to Nantucket Island.

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Beautiful place.

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Oh yeah.

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A place known for beautiful beaches and also some notoriously expensive real

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estate.

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But you know what happens when paradise is kind of on the edge?

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Literally.

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Right.

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That's what we're going to explore today with, well, this fascinating real

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estate story.

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Yeah, that's right.

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We're going to be looking into a Nantucket beach house that sold for a

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really shockingly low price.

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And well, the thing that's behind this kind of unexpected bargain is coastal

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erosion.

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Before we get into the real details of it, I want to make sure you guys know

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about this meteorologist Rob Jones.

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Oh yeah.

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He really understands these weather phenomena.

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I mean, that's what we're talking about today.

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And he's got great content on Instagram, TikTok and YouTube.

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On Instagram, you can find him at meteorologists and TikTok.

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It's at TV meteorologist and then YouTube hurricane Rob Jones.

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Great handles.

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And while you're there, you can also check out his meteorology matters podcast

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playlist.

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So awesome.

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A lot of great content from Rob.

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So okay.

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Now back to Nantucket.

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We're going to be focusing on this property at 28 Sheep Pond Road.

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It's a 1700 square foot home assessed at nearly $2 million.

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Wow.

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Sounds like a dream, right?

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It does.

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Here's the twist.

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This house sold in July 2024 for mere $200,000.

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Yeah.

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You heard that right.

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$200,000 for a house that was assessed at $2 million.

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And to understand how that happened, we have to think about coastal erosion.

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Nantucket South Shore where this property was is experiencing some of the most severe

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erosion on the island.

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Really?

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Yeah.

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We're talking between a half a foot and over 12 feet of shoreline disappearing every year.

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Just think about that.

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That's like a lane of a road potentially.

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Wow.

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Gone in a year.

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That's a pretty alarming image when you think about it that way.

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Yeah.

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So let's talk about the people who live there.

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The owners of 28 Sheep Pond Road, Jane Carlin and Ben Gifford, they own that

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property since 1988.

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They literally watched their neighborhood vanish before their eyes.

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That's right.

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And it's hard to imagine what that musty felt like to watch your home and

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everything that, you know, be slowly claimed by the sea.

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Carlin herself described it as a disappearing neighborhood.

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Yeah.

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And I think that really captures what was happening.

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It's not just property value, right?

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Right.

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It's about losing a sense of place, a community, a piece of your life, really.

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Yeah.

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It's a loss on many levels.

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Right.

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And to make things even more complex, they couldn't even donate the house to

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affordable housing because relocating it was going to be way too difficult and

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expensive.

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Yeah.

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That's right.

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And that's where our next person in this story comes in.

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Don Vakaro, he had owned the neighboring property since 2014 and knowing the

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circumstances he made would seem like a crazy offer.

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Yeah.

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$200,000.

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$200,000.

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For a house that he was fully aware might only be standing for six more months.

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Wow.

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Six months.

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That's incredible.

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He knew the risk and still went for it.

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What was his motivation?

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Well, there were a couple of things.

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He did try to slow down the erosion, planted seagrass, put up silt fencing,

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you know, things like that.

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And then he also rented out the property for a while before it became too risky.

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Oh, yeah.

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Trying to get something out of it.

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But, you know, it kind of reflects what we see in a lot of places, especially

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coastal communities, this need to adapt and make hard choices in the face of

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climate change.

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Yeah.

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On one hand, they're connected to these homes and want to hold on.

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On the other hand, we're facing rising sea levels and, you know, more intense storms.

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So it sounds like kind of a mix of practicality, a calculated risk, and maybe

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even a little bit of defiance.

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Like he's fighting the inevitable.

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Exactly.

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And despite his efforts, you know, the house ended up being unsafe and had to

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be demolished in January of 2025.

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Oh, wow.

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Vakarro ended up losing over $400,000 in this.

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Wow.

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That's a pretty significant loss.

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It is.

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But I read that he also felt good about making some memories with his family

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while they had the house.

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Yeah, that's right.

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It seems like for him, those memories were worth it.

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Even with the financial setback, you know, this whole situation really highlights

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the relationship that we have with nature, especially when the climate

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is changing, we're trying to adapt, trying to find a balance, but we have

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to accept what's happening and then try to, you know, make the most of the time

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that we have.

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Yeah.

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This 28-sheep-on-road situation, it sounds like a symptom of a much bigger issue.

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This isn't just an isolated incident, right?

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This is part of a whole string of what they're calling erosion fire sails

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along that same road.

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Yeah.

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And the stretch of coastline is just disappearing and it's happening so fast.

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People are scrambling to sell before their homes are, you know, literally in the

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ocean, and that's created this really unique buyers market.

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Okay, so tell me more about these other erosion fire sails.

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What other properties on Sheep-on-road have been impacted?

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Well, let's go all the way back to 2010 when Gene Ratner's property at 19

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Sheep-on-road literally collapsed into the ocean.

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Today, that property is completely underwater.

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That is incredible.

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I mean, it's heartbreaking, but also just shows the power of nature.

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It definitely does.

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And then, more recently, March 2024, the house at 4 and 6 Sheep-on-road.

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Okay.

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That was originally listed for $2.2 million, sold for only $600,000.

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Wow.

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Then in October of that same year, 21 Sheep-on-road had to be demolished after

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it was damaged in a storm.

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Oh, wow.

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And there's even a house that's been condemned at 16 Sheep-on-road.

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They have to actually move it back from the bluff to stop it from falling into the

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ocean.

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So it's like this chain reaction of properties succumbing to the sea.

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So what about 28 Sheep-on-road?

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What ultimately happened to that house?

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Well, that's where Don Vicarro comes in.

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He owned the neighboring property.

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He owned the neighboring property and basically swooped in.

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He offered $200,000 for this property.

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And you have to think about the fact that this part of the coastline is disappearing

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and it's happening really fast.

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So people are trying to sell before their homes are literally swallowed up on the

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sea.

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And that's why you're seeing these prices that are so low.

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Right.

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It creates a buyer's market, but it also brings up, I think, some ethical questions.

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It does.

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At what point does a seller have to disclose these risks to potential buyers,

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even if those risks are tied to climate change and maybe not super obvious?

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Yeah.

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That's the big question, isn't it?

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Yeah.

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I mean, legally, sellers have to tell you about problems with the property, but climate

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change is changing all the time.

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It's hard to say what's going to happen.

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Yeah.

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So yeah, it's a gray area for sure.

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It really is.

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What about from the buyer's perspective?

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I mean, Vicarro knew this house might only last six months or a year.

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Was that an ethical decision?

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Well, I think it depends on how you look at it.

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Some people might say that he was taking advantage of a bad situation, getting a really

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good deal on Nantucket real estate, but other people might say that he was helping the sellers,

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giving them a way out and preventing them from losing everything.

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So it's not really clear cut, is it?

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No.

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A lot of it.

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And he did try to mitigate the erosion too.

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He wasn't just sitting back and waiting for the inevitable.

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Do you think that plays into the ethics of it at all?

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It definitely makes things more complicated.

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I think what he did was a mix of things.

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He wanted to get something out of it.

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He was willing to take a risk, and maybe there was a part of him that just wanted to fight back against what was happening.

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It really makes you think about us and nature.

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Yeah.

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We have these forces of nature that just reshaping everything.

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Yeah.

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But we still try to exert our control, don't we?

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Yeah.

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It's that classic thing, like humans versus nature.

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It plays out on a small scale with things like this.

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It's like, we think we can fix any problem, even something as big as climate change.

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And maybe sometimes it's not just about control.

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Maybe it's about making the most of the time we have.

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I mean, Vicaro knew the house was going to be gone, but he still made memories with his family there.

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That's a good point.

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You have to accept reality, but you can still find joy and make it meaningful.

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It really makes you wonder, what would you do if you were in that situation?

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Yeah.

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Yeah.

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If you were the seller and you were facing losing your home, would you sell it?

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Would you try to donate it or would you fight?

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And then on the other hand, if you were the buyer, would you buy something that was on borrowed time?

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Those are tough questions.

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Yeah, they are.

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And there's no easy answers.

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It comes down to what's important to you, how much risk you're willing to take, and a lot of thinking about yourself and what you believe.

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This story really brings home the impact of climate change, doesn't it?

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This isn't just some far off concept.

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Right.

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This is affecting real people in really big ways.

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It is.

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And it makes us think about things like property rights and what we owe to each other and our connection to nature, especially when the climate is changing.

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It's a lot to take.

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This story is so interesting.

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There have been so many twists and turns.

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It is.

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And it's really given me a lot to think about.

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And the story is not over yet.

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There's one more thing about this whole Nantucket situation that we need to talk about.

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We have to think about all of these problems with erosion and how that's affecting the real estate market on the whole island.

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So we've seen how coastal erosion has really affected properties along Sheep Pond Road.

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But you mentioned this ripple effect on the whole island real estate market.

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What do you mean by that?

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Well, as more and more properties on the coast become vulnerable to erosion, it makes things really uncertain for buyers and sellers.

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Potential buyers are going to think twice about investing in something that might not even be there in a few years.

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And then people who already own homes, they might have to sell for way less than what they thought their home was worth.

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Right.

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So it's tough for everybody.

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Yeah.

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So has this had any noticeable impact on the overall real estate market there on Nantucket?

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Oh, yeah.

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It's definitely changing things.

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Nantucket's median home price is still pretty high.

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But buyers are changing their behavior.

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They're being more careful.

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And they're really aware of the risks with coastal properties.

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So now they're looking for things further inland, higher ground, away from the erosion.

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So it sounds like what people think of as like prime real estate on Nantucket is changing.

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I mean, waterfront properties used to be the most desirable and expensive.

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But now it's like they're riskier.

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Exactly.

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And that's impacting the whole island areas that people didn't really want to live in before are now getting more popular and the prices are going up.

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It's almost like the whole island is changing geographically where the good places to live are.

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It's like a whole reshuffling.

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It really makes you wonder what's going to happen to Nantucket in the long term.

254
00:11:15,280 --> 00:11:22,720
I mean, if the sea keeps rising and taking more land, could it just become uninhabitable?

255
00:11:22,720 --> 00:11:24,000
That's the big question, right?

256
00:11:24,000 --> 00:11:24,400
Yeah.

257
00:11:24,400 --> 00:11:29,600
And it's one that scientists and policymakers and the people who live there all dealing with.

258
00:11:29,600 --> 00:11:31,120
It's hard to know what will happen.

259
00:11:31,120 --> 00:11:37,360
It depends on how fast the sea level rises, whether they can do anything to stop it and how well people adapt.

260
00:11:37,360 --> 00:11:40,160
So this whole story of 28 Sheikpon Road.

261
00:11:40,160 --> 00:11:40,560
Right.

262
00:11:40,560 --> 00:11:42,000
And this erosion crisis.

263
00:11:42,000 --> 00:11:42,720
Yeah.

264
00:11:42,720 --> 00:11:47,440
It really highlights that climate change isn't just an environmental problem.

265
00:11:47,440 --> 00:11:48,000
It's not.

266
00:11:48,000 --> 00:11:50,240
It affects the economy and society.

267
00:11:50,240 --> 00:11:52,640
It's impacting people's lives in really big ways.

268
00:11:52,640 --> 00:11:53,120
It is.

269
00:11:53,120 --> 00:11:55,920
It's a real reminder that everything is connected.

270
00:11:55,920 --> 00:12:00,880
The choices that we make on our own and as a society, they have big consequences.

271
00:12:00,880 --> 00:12:01,680
Yeah.

272
00:12:01,680 --> 00:12:07,760
This story makes us think about our relationship with nature and how we treat each other and what kind of future we want.

273
00:12:07,760 --> 00:12:08,320
Yeah.

274
00:12:08,320 --> 00:12:14,880
Well, we've come to the end of our deep dive into this really compelling story of 28 Sheikpon Road.

275
00:12:14,880 --> 00:12:15,920
Yeah.

276
00:12:15,920 --> 00:12:23,680
It's been a journey with so many unexpected things and hard realities and questions that really make you think.

277
00:12:23,680 --> 00:12:24,560
It has.

278
00:12:24,560 --> 00:12:27,680
We've talked about that unbelievably low price.

279
00:12:27,680 --> 00:12:31,280
We've explored erosion and what it means for people buying and selling.

280
00:12:31,280 --> 00:12:31,920
Right.

281
00:12:31,920 --> 00:12:36,480
And we've even seen how this is changing the whole real estate scene on Nantucket.

282
00:12:36,480 --> 00:12:43,200
And as we wrap up, I think the story of 28 Sheikpon Road, it's like a small version of this bigger climate change story.

283
00:12:43,200 --> 00:12:44,000
I think so too.

284
00:12:44,000 --> 00:12:50,800
It's a story of loss and people adapting and trying to find meaning in a world that's changing so fast.

285
00:12:50,800 --> 00:12:57,040
It makes us ask tough questions about property rights and our values and what we're responsible for when the climate is changing like this.

286
00:12:57,040 --> 00:12:57,680
It does.

287
00:12:57,680 --> 00:12:59,040
Thanks for joining us on this deep dive.

288
00:12:59,040 --> 00:13:03,120
It's been really fascinating and we hope that it helps you understand a little bit better,

289
00:13:03,120 --> 00:13:09,840
you know, this whole connection between what people do and the forces of nature and what that means for our coastal communities.