Affordable Housing Comes To Edgartown

Back in 1998 the subject of an affordable housing project came before the town of Edgartown. As you can see from the pictures below, the project is very much under way. Construction is all modular. To get some of the back story on this project read the January 2006 MV Times article on the Pennywise Path Affordable Housing Project.

For Your Protection: Get a Home Inspection

It is my belief that all Martha's Vineyard homes being purchased should have a Home Inspection. I’m insistent that my Buyer Clients always have a Structural and Systems Inspection, no matter how old or new the house is. I even explain the procedure on my Website, as well as other Environmental Issues such as Radon and Mold. I have a list of Home Inspectors with related links along with other engineering services such as Radon testing on my Martha's Vineyard Island Service Providers page.

For your protection, please look at the revised HUD-92564-CN form, then read the Mortgagee Letter below from The Federal Housing Administration.


October 5, 2006

MORTGAGEE LETTER 2006-24

TO: ALL APPROVED MORTGAGEES

SUBJECT: Revision to form HUD–92564-CN, “For Your Protection: Get a Home
Inspection”

The Federal Housing Administration (FHA) has revised form HUD-92564-CN “For
Your Protection: Get a Home Inspection.” The purpose of this revision was to create a more conspicuous, easy-to-understand document that informs homebuyers of the availability and importance of getting an independent home inspection. The form also provides clarification of the differences between an appraisal and a home inspection and stresses the importance of radon testing.

Mortgagees are required to provide the document to prospective homebuyers at first contact, be it pre-qualification, pre-approval, or initial application. In any case, the mortgagee must provide the form to the prospective borrower no later than initial loan application. A copy of this revised form in a PDF file format is available online at http://www.hudclips.org/.

FHA has also eliminated the requirements that the form be signed by the purchaser and included in the case binder submitted to FHA with the mortgagee’s request for insurance endorsement. This Mortgagee Letter supercedes those portions of HUD Handbook 4165.1, Section 1-5, Table 1.1 Binder Assembly and Appendix XIX, Pre-Endorsement Review Checklist requiring the form to be included in the case binder. Additionally, this Mortgagee Letter rescinds, in their entirety, Mortgagee Letters 2004-04 and 2005-01. Mortgagees may use the revised form HUD-92564-CN immediately but must begin using the revised form for new loan applications taken after December 1, 2006. This Mortgagee Letter applies to FHA-insured forward mortgages only and not FHA-insured Home Equity Conversion Mortgages (HECM).

Color copies of this revised form will also be available free of charge through HUD’s Direct Distribution Center by telephone Monday through Friday from 8:00 AM to 5:15 PM ET via toll-free number 1-800-767-7468 by December 1, 2006. Online service orders can be placed 24 hours a day, seven days a week at HUD’s website http://www.hud.gov/offices/adm/dds/index.cfm. When ordering online, follow the instructions provided and enter the Item ID number only. To order hard copies of the document in black and white print, the Item ID number is 6535. To order red and white colored copies of the document, the Item ID number is 7094.

Information Collection Requirements

The information collection requirements contained in this document have been approved by the Office of Management and Budget (OMB) under the Paperwork Reduction Act of 1995 (44 U.S.C. 3501-3520) and assigned OMB control number 2502-0538. In accordance with the Paperwork Reduction Act, HUD may not conduct or sponsor, and a person is not required to respond to, a collection of information unless the collection displays a currently valid OMB control number.

If you have any questions concerning this Mortgagee Letter, please contact the FHA Resource Center at (800) CALL-FHA or (800) 225-5342.

Sincerely,

Brian D. Montgomery
Assistant Secretary for Housing-
Federal Housing Commissioner

Five Costly Mistakes Made By Home Buyers

I think this article written by the renown real estate expert and syndicated columnist Robert J. Bruss, is very pertinent for my BUYER clients considering the real estate market we're in right now. Here it is:


Home buyers: 5 costly mistakes to avoid
Satisfaction ensured with own agent, key contingencies

By Robert J. Bruss October 13, 2006

Fall 2006 is proving to be a great time to be a home buyer (but not such a great time to sell your house or condo). In most cities, it's a very strong "buyer's market" for homes.

A buyer's market means there are more houses and condominiums listed for sale than there are prospective home buyers in the marketplace. "The buyer is king" is another way of saying home buyers can negotiate hard for price and terms in today's market.

The number of brand-new and resale homes available for sale nationally is at an all-time high. However, because home sales depend on local conditions, the situation in the town where you want to buy might be different.

But savvy home buyers still need to be cautious to avoid making home buyer pitfalls. Here are the five most costly mistakes home buyers make unless they plan carefully:

1. FAILURE TO GET PRE-APPROVED IN WRITING FOR A HOME MORTGAGE. Most home buyers need to obtain a home loan to purchase their house or condo. Smart buyers shop for a mortgage before searching for a home.

Although it's fun to "shop" for a house or condo on the Internet -- where more than 70 percent of today's home buyers begin their quest (according to the National Association of Realtors) -- the smartest home buyers get pre-approved in writing by an actual lender so they know the maximum mortgage amount available.

The first step to obtain a home mortgage is to check your credit reports from the three major credit bureaus, Equifax, Trans Union and Experian. You can get free copies of your credit report once a year at http://www.annualcreditreport.com/ or by phone at 877-322-8228.

However, those free credit reports are virtually worthless when shopping for a mortgage because they don't include your all-important FICO (Fair Isaac Corp.) credit score, which most lenders use to qualify borrowers.

The best place I've found to check all three credit reports is on the Internet at http://www.myfico.com/. For about $45 I obtained copies of all three credit reports, plus my FICO score. With a FICO score of 700 or above, you should have no problem obtaining a home loan at the best interest rate and terms.

If you find credit-report errors (reportedly, over one-third of credit reports contain wrong information), be sure to follow the procedure stated to correct those mistakes.

For example, several years ago one of my credit reports said I owed unpaid property taxes. That was incorrect. However, it hurt my FICO score. I followed the procedure to "verify" the error. Credit bureaus then have 30 days to do so. Because the mistake couldn't be verified, my credit report was corrected and my FICO score improved.

Armed with your corrected credit reports from all three credit bureaus and your FICO score, the second step to obtain a home mortgage is to shop among mortgage lenders for a written pre-approval. Most lenders don't charge for pre-approvals (because they know you probably won't shop further after you are pre-approved).

Be sure the lender gives you a pre-approval letter, not just a pre-qualification statement, which means only "We think you can probably get a mortgage based on your submitted information but we haven't really checked."

2. FORGET TO WORK WITH YOUR OWN BUYER'S AGENT. The second major mistake some home buyers make is they forget they need their own buyer's agent. It's very easy for prospective buyers visiting weekend open houses to let the listing agent they meet prepare the purchase offer.

Whether that listing agent acts as a "dual agent" representing both the home seller and buyer (an inherent conflict of interest) or the listing agent represents only the seller (and nobody represents the buyer), such a situation is not in the home buyer's best interest.

To find a reputable buyer's agent, home buyers should ask friends, relatives and business associates for recommendations of local agents.

It costs home buyers nothing extra to have their own buyer's agent. If the home is listed for sale, the listing agent will split the sales commission with the buyer's agent. In the rare situation of a "for sale by owner" home, most FSBO (fizz-bo) sellers are only too happy to pay the buyer's agent half of a customary sales commission, usually 3 percent.

However, home buyers should be careful not to sign an exclusive buyer's agent contract for longer than 30 days, just in case the recommended buyer's agent turns out to be ineffective.

3. BUY A HOME WITH AN INCURABLE DEFECT. In the current buyer's market in most communities, where there are more home sellers than qualified buyers, house and condo buyers can afford to take their time and be "picky."

No home is perfect. Even brand-new houses and condos have their defects. Thankfully, most homes don't have major defects, such as being located next to a noisy railroad track or a freeway. Smart buyers think into the future and ask, "Will I have any trouble selling this home because of its problems?"

Serious incurable defects are called "economic obsolescence" by appraisers. Examples include a bad floor plan, poor location (such as adjacent to high-voltage power lines or the city dump), noisy street traffic, or lack of onsite parking.

4. FAIL TO INSIST ON A COMPARATIVE MARKET ANALYSIS (CMA) BEFORE MAKING A PURCHASE OFFER. Amazingly, many home buyers still follow the old rule: "Offer 5 percent below the asking price." That makes no sense.

Instead, smart home buyers ask their buyer's agent to prepare a written comparative market analysis (CMA) before making a purchase offer. This CMA is the same form the listing agent prepared for the home seller.

It shows recent sales prices of comparable nearby homes, asking prices of similar neighborhood listed residences, and the asking prices of recently expired competitive listings (usually overpriced).

With the help of the buyer's agent, smart buyers then discuss the pros and cons of the homes on the CMA before arriving at a reasonable purchase offer price.

5. NEGLECT TO INCLUDE TWO KEY CONTINGENCY CLAUSES. Way back in the hot home seller's markets of 2005 and 2004, it was common for home buyers to make "all cash, no contingency" purchase offers. The current buyer's market in most cities has changed that foolishness.

Today's smart home buyers include at least two purchase-offer contingencies: (a) a satisfactory lender's professional appraisal of the home for at least the purchase price, and (b) the buyer's approval of a professional inspection report to be obtained at the buyer's expense.

Depending on local custom, additional inspection contingencies might include termite or pest control, building-code compliance, energy efficiency, and radon.

A controversial contingency makes the home purchase contingent on the buyer's sale of his/her current residence. Many home sellers refuse to accept such a contingency. Others will accept it but with a 48-hour release clause if a better purchase offer from another buyer materializes.

SUMMARY: Although home buyers are in control of today's residential sales market, they still need to be careful to avoid costly mistakes. Smart home buyers, with the help of their buyer's agents, can protect themselves when buying a house or condo to be enjoyed for many years.

Did You Know ...

Martha's Vineyard is an island 80 miles from Boston, it’s 9 miles wide and 23 miles long at its furthest points; the total land area is approximately 100 square miles. Martha's Vineyard has a total of 124.6 miles of tidal shoreline. The winter population is 15,007, and it swells to 105,624 during the summer season.

So Much For Building Your Own Ritz Carlton On A 5,000sf Lot In Edgartown

The Edgartown Wastewater Department, which has nothing to do with the Board Of Health, has mandated a change in bedroom regulations as it pertains to those houses connected, or connecting to the sewer lines. Originally we understood if you were connected to the sewer line you could have as many bedrooms as you could fit on the lot. Not anymore. The Wastewater Department has a clear definition for what constitutes a bedroom and what is not a bedroom. They go on to say existing and future lots shall be allowed 4 bedrooms for the first 10,000sf of lot area. Existing lots shall be allowed 1 additional bedroom over and above the 4 bedrooms for each additional 5,000sf of lot area, up to a maximum of 7 bedrooms per lot. As you can imagine, this is a simplification of the regulation cutting out the legalese.

Massachusetts Home Prices Fall 6.1% As Downturn Gathers Speed

For many months I've been defiantly denying that the market here on Martha’s Vineyard was a “bubble”, and that bubble was about to burst. I truly believed that we were somewhat bulletproof due to the nature of our market, that being a vacation and second home market. Now it seems experts everywhere are sheepishly recanting their position on the market forecast; just the other day one such expert had to eat crow on the TODAY show.

I must admit it upsets me to see what is happening, because it doesn’t have to be this way. Our appreciation rate on the Vineyard was not out of line and not the highest in the country, although that may have been true on the North Shore and around the Boston area. A good part of that run-up was due to the lower price range and condo market. I've been hearing for years from clients in Massachusetts who have looked at other prime Massachusetts luxury areas that the Vineyard was still one of the best deals. Have you ever shopped the market in Weston, Marblehead, Wellfleet or Truro? I know as a BUYER’S agent I should be thrilled that the market is now swinging past center to the buyer’s side, but buyers are not taking advantage of what could be an opportune situation. Think about it, the viral frenzy by investors to bail out has doubled the inventory and now we have 625 single family homes and vacant lots on the market, over 660 properties altogether. Sure there are a few ego listings, but most of the glut is due to investors who thought they could make a short term profit and are now thinking that’s no longer possible. If you couple that with the ill-advised marketing strategy that has created a frenzied volley among competing sellers for the lead position in attractive pricing, while hoping not to lose all of their gains, you have what is practically a static market.

The risk for people who are speculating on when the bottom will occur is the same as with those who speculated as to when the top of the market would arrive; they may end up staying at the dance too long. I think the opportunity for buyers is better now than it has ever been, but I still hold to my battle cry --- BOLD OFFERS! Maybe, just maybe, all this inflammatory press and manipulated statistics could work to a buyer’s advantage as sellers are hearing that we could be in for a L-O-N-G haul. Perhaps they are starting to think about how much it will cost them to weather the storm --- taxes, insurance, utilities, mortgage payments and interest, maintenance, etc. The experts are now advising sellers who don’t have to sell their properties to take them off the market, but for those who do need to sell, as I say at the bottom of my home page: ATTENTION SELLERS: A LOW OFFER TODAY, MAY BE A HIGH OFFER IN 60 DAYS.

The following Boston Globe editorial describes what is happening and what is forecasted to happen to the real estate market in Massachusetts. If you take this as a generalization, then you can believe Martha’s Vineyard is part of the scenario. However, is the Vineyard a 1st time home buyer market? No! Is the median home price here $352,000? No! However, the Vineyard is NOT a necessity.

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Massachusetts Home Prices Fall 6.1% As Downturn Gathers Speed
By Kimberly Blanton, Globe Staff September 26, 2006

The downturn in the Massachusetts housing market gained momentum in August, with the median price of a single-family home falling 6.1 percent, to $352,000, and the number of sales down 21.6 percent from last year, the Massachusetts Association of Realtors said yesterday.

The condominium market, which had remained steady for most of the year even as the single-family market slipped, also felt the effects of the slowdown. The median condo price fell 3.3 percent in August, to $278,000, and sales fell 18.5 percent.

While sales volume has been in a freefall for months, price declines began showing greater momentum during the summer and are expected to continue into the fall.

``Things are not over in terms of the price declines," said David Iaia, a senior principal for Global Insight, a Lexington economics consulting firm. He said sellers will feel more pressure this fall to drop their prices on homes that have been on the market for more than three months, on average.

Iaia said the state's price declines would continue in 2007 and possibly into 2008, though it is difficult to predict. ``I don't think you'll get a good sense of the impact until next spring," he said.

``Now you're at the end of the major selling season, and people who've had their house on the market all summer and haven't sold it are getting concerned, so there are probably more price declines coming this fall," he said.

The real estate market is slowing across the country, although not as dramatically as in Massachusetts. The National Association of Realtors said yesterday that existing homes -- including single-families, condos, and townhouses -- sold at a rate of 6.3 million units in August, 12.6 percent lower than last year. Prices for all types of homes fell 1.7 percent in August, to $225,000.

The interest rate on the conventional 30-year mortgage is 6.4 percent, said Freddie Mac, the federal agency that backs the mortgage market. Higher interest rates have contributed to the cooling real estate market nationwide.

Massachusetts experienced the most price appreciation of any state between 2000 and 2003, and the appreciation continued over the next two years and pushed sales and prices to record levels. The downturn is now in full swing, analysts and agents said.

The August price slide was confirmed in a second report yesterday by the Warren Group, a Boston real estate and publishing firm that compiles market data. Warren Group said the median single-family price declined 8 percent, to $331,000, as sales dropped almost 20 percent. Condo priced fell 5 percent, to $276,000, as sales declined 19.3 percent.

Both the Warren Group and the realtors base their monthly report on actual sales closings in August, but their data sources are different. The realtor association sales and price data are based on house-listings posted in the multiple listing service, an agents' database, while Warren's data is culled from court records on home-sale closings statewide.

David Wluka, president of the Massachusetts Association of Realtors, blamed soaring appreciation during the boom for making it difficult or impossible for many first-time buyers to afford a single-family house. Without them, homeowners are unable to sell when they want to trade up.

High prices are ``creating a clog in the system," he said. ``People trying to buy houses can't buy until they sell houses they own, and unless they price houses they own correctly they're not going to sell."

He said he has witnessed this at this phenomenon with some clients of his firm, Wluka Real Estate Corp. in Sharon. ``I also see buyers holding back and waiting for the bottom, but you can only see the bottom in the rear-view mirror," he said. Buyers ``need to bargain hard," because ``they're in a very powerful position."

Wluka predicted prices could stabilize this fall, if homeowners who aren't serious enough about selling to reduce their prices take their houses off the market.

Since February 2005, single-family sales, when compared with a year earlier, have declined all but one month, according to Warren Group. But price declines, which were delayed until the spring of 2006, have accelerated. In March, for example, the median house price fell 1.52 percent. By June, they were down 9.3 percent, followed by a 6.1 percent drop in July and 8.1 percent in August.

Condo prices boomed through 2005 and early this year, fueled by empty-nesters who downsized and by first-time homebuyers who had given up hopes of buying a single-family. While condo sales began declining earlier this year, significant price declines didn't hit until July, when the median condo price fell 4.2 percent compared with July 2005 prices. The August condo price fell 5 percent.

Steven Levine, an agent with Re/Max First Choice Realty in Northborough and Shrewsbury, said he sees a silver lining in the recent interest-rate and house-price declines: Buyers responded in September, the start of the fall selling season.

Levine predicted the market is ``at the bottom" because sellers, after months of resistance, realize that a lower asking price is necessary to spark sales.

``But the buyers are very picky, and they're not buying a house that needs work or has issues," he said. Buyers are ``looking for those cream-puff properties."

Where Did Steven Spielberg Stay On Martha's Vineyard?

One of the events that put Martha’s Vineyard on the map was the movie JAWS. For decades visitors to the Island have searched out the locations shown in the movie. One of the last remaining vestiges of that exciting event was the log cabin where Steven Spielberg and Carl Gottlieb resided during the filming of JAWS. The ~1550sf log cabin was built in 1950 and sold in 2004 for $1,600,000. The Jaws Cabin Is No More

Mass Housing Guide for First Time Home Buyers

Even if you’re not a first time home buyer, there are some very good tips in this "How To" guide. Just remember, anytime you contact a listing agent to inquire about one of their seller’s properties, they represent the seller, not you.

When you’re ready to buy a home you want to engage an Exclusive Buyer Agent, because they have access to the entire real estate market, work solely for you, will negotiate on your behalf, and always have your best interests in mind.

To learn more about Exclusive Buyer Agency, or to subscribe to my Buyer's Basic e-Newsletter focusing on the Martha's Vineyard Real Estate market, visit www.SplitRockRE.com.

Making News On Martha's Vineyard

The Vineyard Gazette has always been a literary icon of this wonderful Island, garnering praise from the journalism community year after year for its fine editorial writing and exceptional photography. The Gazette continues to adhere to a model championed by its late editor, Henry Beetle Hough, as he fought to preserve what has been a special way of life for so many years.

I was pleased to participate in assisting a buyer of mine in the purchase of the old Henry Beetle Hough house in Edgartown some years ago. The house has changed quite a bit over the years since Mr. Hough’s death, but it’s still a beautiful property and his former wife still owns the house behind it.

A new book by Phyllis Meras, a frequent contributor to the Vineyard Gazette, chronicling the life of Henry Beetle Hough might be of interest to you if you are a student of Martha’s Vineyard history. The book is titled Making news on Martha's Vineyard.

Bicycling To Martha's Vineyard?

Martha’s Vineyard has always been a desirable destination, one that’s not the easiest to get to. People who really want to come here go to great lengths to make the trip including multiple modes of transportation quite often combining airplanes, buses and boats. But have you ever heard of someone riding a BICYCLE to Martha’s Vineyard?

Not Having A Survey Can Lead To Big Problems

Underneath it all is the LAND. Right? So, if that’s true then why do people buying real estate usually have no idea where their land begins and ends? They haven’t a clue where the boundaries of the property are, and they’re spending hundreds of thousands, or millions of dollars for it. To me, that would be first and foremost; I can worry about the pink bathroom tile later.

If you’re getting a mortgage, usually the Mortgagee will require a Mortgage Plot Plan. This is a map that shows the use of the land, where the actual or proposed structures are located. It can also be used for a septic design. It’s not necessarily a plat of the land or a survey articulating all the metes and bounds. If there already is, or has been, a mortgage on the property then that Plot Plan should already exist, but remember it’s not a survey. In many cases where a septic is installed, there isn’t even a septic plan on file in some of the towns. Only recently has record keeping become more conscientious among towns and engineers. I had an experience where three engineers did surveys over time on a piece of land and each one came up with different information.

A colleague called me while I was writing this to tell me about a 10,000sf lot in Vineyard Haven that she is marketing for an owner. The lot has just been surveyed and a plat has been created. During my conversation with her, I looked up the lot in the Assessor’s Book and remarked, “It’s a trapezoid shaped lot with ~110’ at the rear and ~140’ of frontage. She said, “No, it’s square with about ~130’ at the rear.” The Assessor’s maps are notoriously inaccurate so we all should know never to rely on that information as fact. I read an article the other day that addresses the point that quite often No Survey Leads To Big Problems.

Corey Kupersmith Begins Construction of South Woods Farms

Mr. Corey A. Kupersmith’s relationship with Oak Bluffs and this Island, albeit a fiery one, started sometime back in the 1990s when Mr. Kupersmith, a developer from Greenwich, Connecticut bought the old Webb’s Camping Area for $2.5mm. Mr. Kupersmith continued acquiring land in the area in what is called the Southern Woodlands, some with unclear title, until he had amassed an additional 190 acres giving him a total of 280 acres.

His vision was for a luxury golf course community; however, his proposals were summarily rejected time after time in one of the ugliest skirmishes yet to befall the Vineyard. Finally the Martha’s Vineyard Land Bank stepped in and purchased approximately 190 acres for $18.6 million thereby preserving 2/3’s of the Southern Woodlands.

During the beginning half of this year, many of us have wondered what the dramatically wide swath of excavation is cutting into the woodland off of County Road. Well, now we all know it is Mr. Kupersmith going ahead with his approved South Woods Farm subdivision of luxury homes.

Personally, I think it’s a shame a resolution couldn’t be found that would have allowed for a PUBLIC golf course with REASONABLE greens fees along with other forms of recreational activities like tennis and swimming, something that would have been accessible and affordable for all. I guess we’ll all have to wait for the greatly anticipated Martha’s Vineyard YMCA, but that’s another story.

Terminal Seller Uniqueness – The Vineyard Way?

I’ve always believed Martha’s Vineyard to be a unique and very special place, but I try to keep my elitist attitude in check. However, for as long as I can remember, when prideful owners compare properties, they boastfully maintain their property is special and unique. It's quite common when we see properties selling for over 20 million dollars, usually the first thought that comes to mind is, and “They paid that much for that property!” And then after thoughtful reflection we come to the (ir)rational conclusion, if he can get that much for his property, surely mine is worth X. No two properties are the same and the same goes for buyers, circumstances and timing. Each property must be evaluated individually and objectively. I see it all the time in the middle to lower end of the market based purely upon what is happening in the higher end of the market. Certain areas will appreciate more quickly than others since it all comes down to location, but there are many other dynamics that effect how the various price lines are marketed.

Vineyard property owners generally believe they are not affected by what is going on in the rest of the market, they think their holdings are recession proof. To some extent that may be true. But today it seems all we’re hearing from the media is the bubble has burst. Of course the news media survives on sensationalism and fear. They don’t know our business and quite often editorialize to suit themselves. The market is crashing in many areas and down trending in other areas where the experts have predicted a soft landing. All the while the market is building in other areas. We cannot deny the fact that the inventory of homes on Martha’s Vineyard is steadily increasing and sales have fallen off significantly, but this is not a bubble burst, it is suppose to be a leveling of prices into what will be a healthier market --- except for one thing.

I like the recent article Peter Miller wrote titled Marathon Sellers Race Realty where he speaks of that one thing --- real estate exceptionalism. I think we all know history repeats itself and if that is true, in this case, sellers who resist reality as we approach the long cold winter may get themselves into trouble, especially if they’re highly leveraged, in a position of negative amortization and with ARM’s that will realize dramatic interest rate hikes during first adjustments sometime before March 2007. Sellers are shooting themselves in the foot every week by making insignificant and repeated reductions to their over-priced properties, that is, overpriced for this market. As a result, serious buyers who watch every tick of our market continue to sit back intent upon waiting out the sellers, wondering how low they will go. In the meantime sellers are paying all those carrying costs and chasing the market as it continues to slide. This is not as bad as the early 90’s but I fear the outcome may be the same. My advice to sellers is, listen to the objective professional opinion of a seller agent. Sellers have got to stop telling their agents what their property is worth. If you are engaging them to market your property, let them do their job. LISTEN! If you’re fortunate enough to get an Offer, think carefully and MAKE THE DEAL. What you perceive to be a low offer today may end up looking like a high offer in the next few months.

Is This Really The End Of The Real Estate Boom?

Jim Cramer of “Mad Money” says the Boom is over and if you own investment real estate, get rid of it and invest in corn flakes. July was one of the worst months for real estate in a long time with the number of unsold homes climbing to a record high. Furthermore, sales of existing homes dropped to the lowest point in over three years, and that down trend caught most economic analysts off-guard. The supply of homes for sale rose to over a 6-month supply which is the highest it has been in the last 10 years. A Commerce Department study reported new home sales, accounting for 15% of the market, fell by 4.3% and is down 22% from the same time last year. The supply of new homes, meaning new construction, rose to the highest documented level since December of 1972. I wonder if they took into consideration the population boom since 1972? Also, price gains slowed since a 14% increase last September, but we know that and I don’t consider that to be unmanageable appreciation. My definition of a boom is when appreciation rates reach the 20% to 30% range. I still maintain that the Vineyard market is unique and somewhat recession proof. Granted, a lot of people are moving off the Island for various reasons including lack of ability to make a living here, but I believe more upper-middle class people and retirees will take their place converting properties into suitable vacation and income properties. Baby boomers (1946 to 1964) who are reaching retirement age will be divesting themselves of their oversized primary residences in favor of more modest accommodations. They will have the resources to afford a second home in a calmer surrounding or escape urban centers altogether in favor of no maintenance condos or low maintenance homes in recreational areas with golf, tennis and boating. They will have the money to do what they want and their movement will signal the beginning of the next real estate market upswing. Think about it, 27% of the population fits into this category and that adds up to 76 million “boomers” getting ready to retire. I’m very optimistic about the future of Martha’s Vineyard and its ability to adapt to the sociographic changes. I am also confident real estate will always be a good investment in the long run.

Closing costs up 8 ½ percent in Massachusetts

Published in REALTOR(R) Digest August 21, 2006
A newly released national survey of real estate closing costs found that home buyers in Massachusetts pay more, on average, for loan origination, title and document preparation, and other settlement services than the typical home purchaser, but far less than consumers in New York and Texas, who face the highest closing costs in the U.S. The survey, by Bankrate.com, reflects state averages for 21 related settlement fees associated with the closing costs on a $200,000 loan to a buyer with an excellent credit history who made a down payment of at least 20 percent on a single-family home in the state’s largest city. Nationally, the typical home buyer paid an average of $3,024 at closing, excluding taxes and escrow fees, which reflects a 10 percent increase over the 2005 average closing cost of $2,748. Home buyers in New York were found to pay the most for closing costs at an average of $3,887, while residents in neighboring Connecticut (which placed 6th) faced the highest closing costs in New England, paying an average of $3,284. In Massachusetts, home buyers currently pay $3,143, on average, at closing, which is up about $250 over last year, and places the Bay State 14th overall among the U.S. states for highest closing fees. New Hampshire residents pay among the lowest closing costs in the country, ranking 49th nationally, at an average of $2,734.

Does Your Personal Residence Qualify for a 1031 Exchange?

We all know the IRS rule about exempting the first $500,000 for married people and $250,000 for single individuals from the capital tax gains when selling a property you have lived in for the last two out of five years. However, there is a possibility depending upon what that property was used for during the other three years of that five year period that your personal residence can qualify for a tax free exchange. Here is a very interesting article explaining the Personal Exchange.

My New Home Has Problems, What Can I Do?

My wife and I bought a second home a few years ago in a newly developed planned community. There is a homeowner Association and the developer has an office in the complex as they continue to market their new homes. After we purchased the property we found some problems with the construction. What were we suppose to do? We contacted the Homeowner Association, but in our case they were of little help. We contacted the developer; they referred us directly to the builder. Luckily, the builder is a good guy who took responsibility for all his mistakes. But, what if he wouldn’t? What rights would we have? Would we have to sue the developer and builder, and how would we go about doing that? Should the Homeowner Association step in, and what can they do? Here is a book titled Construction Defect Litigation that speaks to the potential problems that can arise and what to do.

Car Show Supporting Edgartown Parent Teacher Organization

On Saturday, August 12th, the Edgartown PTO hosted their first ever car show. My dear friend, Rob Young, aka Robert A. Young Electrical Contractors was the guiding light behind this unusual event. We all know that most people on Martha's Vineyard, especially those living here year round could give a tinker's damn about cars beyond getting them, their kids, fishing gear and their tools from here to there. However, there are some pretty neat cars squirreled away in barns and garages around this Island.

Rob has a pristine BMW Z3 M Roadster that is a Sunday driver, and I have a '95 Chevy Caprice wagon that is driven even less than that. What's so special about a Chevy WAGON and what does this have to do with real estate. Well, I admit this is a digression from my normal discourse, but this WAGON used to be my real estate car until my increasingly obsessive hobby ran away with me and it was no longer suitable as a sedate house touring car. Another friend of mine who happens to be a home inspector has a '63 Corvette split-window coupe that's fully restored, and a 2003 Z06 "Arrest Me Red"Corvette with 405 HP. We all dusted off our cars, hoped they'd start and got together to support this event on the most beautiful day of this summer. There were over 40 cars in attendance at the show.

I bought my wagon new in '95 and worked on it for about 7 years. I blame my folly on a semi-retired race car engine builder, Ray Baker, who became a client of mine and to whom I sold a house in Oak Bluffs a number of years ago. I also credit a lot of my insanity to the encouragement and support of my many friends in several Impala Super Sport clubs around the country. Thanks to Ray and the Impala guys, I've spent tens of thousands of dollars and equally as many hours making my WAGON the unique "Grocery Getter" that it is today. I started a trend. I guess all that love and effort paid off on Saturday, because I actually won an award at the car show. It wasn't my first award, but this was special to me.

Island affordable housing bill killed by House

The question of affordable housing for workng class Vineyarders has been a heated topic of discord for many months. The solution for how to maintain a balanced population on this fragile Island will not come easily. It is more complicated than it appears, and could establish a precidence for other towns and cities to manipulate a seller (or buyer) fee to self-serve their purposes, I.E. town sewer upgrades, etc.

It was believed the House would not render a decision before its current session came to a close; however, they somehow squeezed it in and voted 91 to 64 against legislation that would have created a fund to subsidize affordable housing on Martha’s Vineyard.

As a real estate broker, EXCLUSIVE Buyer advocate and owner of a property valued above the $750,000 baseline, I've been subjectively opposed to this legislation and am pleased that it's been rejected. In my opinion, it doesn't matter who is charged with paying the fee, be it the 2% Land Bank BUYER fee, or the 1% SELLER fee for sales above $750,000 --- the BUYER is the one who will ultimately pay. Of course I have other reasons for my opposition, but ....

Going For The Bait

You know what the problem is with our real estate market, it's the people who write about it and talk about it in terms of doom and gloom. Once again the press is feeding off of what is happening in other parts of the country and making general statements, without all the facts or studying the psychographics affecting Martha's Vineyard.

Sure the market has slowed down, and sure there are more properties on the market, but it really isn't that bad. Part ot the reason the market has slowed down is because more buyers are being cautious, not wanting to appear foolish and overspend. I can tell you, having worked both sides of the market for many years, sellers got used to pricing their properties well above the broker recommendations without too much resistance from the brokers, because nine times out of ten, a buyer would come along and pay the price for that property. There was little to no price resistance and the opperative expression was, "You only have to sell it once". Well, today's buyers, thinking they have the upper hand, and maybe they do, are no longer taking the "I've got to have it before the price goes up again" point of view. Any buyer in their right mind who is watching the continuous trail of price reductions week after week will sit back and wait wondering, "How low will they go?"

Another reason there are more properties on the market is because more people are moving off the Island. More people have decided to "cash out" now and move on to more affordable communities for work or retirement, or they've simply gotten tired of the many inconveniences associated with living on an Island year round --- or perhaps the commute has become too expensive. It also stands to reason, if more houses were built and more properties have been converted to condominiums, the inventory will go up. Sure properties are taking longer to sell, and sure the TOTAL inventory has risen by ~34%, but it is not even close to what the inventory was in 1990 and 1991.

I agree with Mr. Wallace, "The Vineyard market literally goes in spurts rather than a steady trend of every day, every week, every month." This is a very rich Island in all imaginable ways and it is only going to get richer. Get in at today's dollars or wait until tomorrow, you can't lose either way.

Charting the Future of Martha's Vineyard

"The preparation of an Island Plan for Martha’s Vineyard is underway.

"The ISLAND PLAN will set the stage for local decision-making concerning a whole range of issues such as water quality, housing, traffic and transportation, open space, growth, and economic opportunities.

"The plan will have a vital impact on the future of the Island… on all of our lives and those of our children. So it’s important that every Vineyarder take part in its preparation."

Do You Know What Moves You?

Motivation is a curious thing when it comes to buying and selling a home. The decision making process is full of questions you should be asking yourself, answers that will sometimes surprise you and variables that need to be focused. Take a few minutes and answer the 20 questions in Your Online Housing Profile Quiz.

Pedaling the Islands

As a follow-up to the essay I wrote, Mopeds Are Dangerous, here is a wonderful article extolling the virtues of riding a bicycle on Martha's Vineyard titled Pedaling the Islands.

The Vineyard Clothesline

Can you use a laugh? Holly Nadler, ex-wife of Marty Nadler who wrote such classic television series hits as Happy Days, Laverne and Shirley, and Golden Girls owns a quaint little book shop in Oak Bluffs called Sunporch Books. She’s written a new book titled Vineyard Confidential. An article in the New York Daily News reported, “The rich and famous islanders of Martha’s Vineyard should lower their voices the next time they stop by Sunporch Books in Oak Bluffs ....” They go on to relate several tales shared by our resident dirt dish darling.

• Bruce Willis reportedly hit on 137 waitresses during his Vineyard visits over the years. According to Nadler, he scored with precisely zero.

• Diane Sawyer is the most demanding of all VIPs, a source at the Vineyard airport told Nadler. "She insists on being driven to the door from her plane, rain or shine, even though it is a nine-second walk.''

You’re wondering what any of this has to do with real estate? Read the next one.

• Woody Allen once faxed a list of requirements to a real-estate agent who was supposed to show him properties. According to Nadler, the Woodman insisted the agent should remain silent unless spoken to.

As posted July 12, 2006, Akron Beacon Journal – Porter’s People

Martha's Vineyard, A Diverse Island

Martha's Vineyard Island is a microcosm and melting pot of humanity that ebbs and flows like the flick of a lamp switch from season to season. Remember my article on "Stickers"? Those who live here wrestle to identify themselves from those who don't, and those who want to be from here. There are stickers that read "NATIVE", "I LIVE HERE....", "WASH-ASHORE", and now there are Brazilian stickers in green, yellow and blue. There are stickers for every town and stickers in the shape of a nautical semaphore flag that attests to your elitist membership to the yacht club, There are town dump stickers and beach stickers that identify you in a roundabout way and private community stickers that are another symbol of elitism.

Anyone who has lived and raised children here knows this Island can be a wonderful place to grow up with opportunities beyond imagination and a school system second to none, or it can be hell. Hmmm, sounds just like life. However, wanting to stay on the bright side of Island life, I want to share with you an essay I read in the Summer 2006 issue of Vineyard Style magazine. There is a footnote to the essay that you must not miss, so I'm repeating it here.

"Duncan Pickard is the winner of the Vineyard Style-John D. Morelli essay contest. In addition to publishing his essay, Vineyard Style awarded Duncan a $500 prize. So taken were we with his talent and drive, we hired him for the summer. Duncan will attend Tufts University."

Coming of Age and Surrounded by Sea

Is Anything Happening in the Martha's Vineyard Real Estate Market?

I was speaking with a broker in Sarasota, Florida the other day and he said after 3 years and a staggering 95% appreciation, the market has tanked and only 4% of the inventory sold last month. They have a real problem. But I keep hearing all this talk about a buyer’s market on Martha’s Vineyard. The market is standing still here, just like it is in New York or New Jersey or Connecticut. Even Las Vegas and Los Angeles are practically neutral. I don’t call that a buyer’s market; it’s nobody’s market. Nothing is happening! However, when it does happen, quite often it’s not pretty.

Sellers are angry at the offers they are getting and buyers arn't satisfied when they have negotiated a good price, they want more and more concessions and many deals fall apart. I maintain this is not a buyer’s market, it’s a market of opportunity, but you’ve got to be willing to look at the big picture. Now is the time to approach sellers with realistic offers and attempt to negotiate reasonable buys. Sure you can ask them to pay all or a portion of the closing costs, or pay for the structural inspection, but why beat the seller up for ugly window treatments or the old refrigerator they’re so attached to? I remember when the market really tanked during the late 80’s and early 90’s; I had to restrain a seller when he lunged across the closing table at the buyer during a closing. Having said all of this, if you're keeping score, there are approximately 485 homes, 115 pieces of vacant land including beach lots, and 16 condos for sale on Martha's Vinyard according to our Multiple Listing Service.

Mopeds Are DANGEROUS

The David and Goliath “us against them” campaign focused upon banning mopeds from the byways of Martha’s Vineyard Island started back in 1988 when numerous serious moped accidents had made national news. It was about that time that I first started riding a motorcycle here on the Island. I was an adult who had a healthy respect for the inherent dangers associated with motorcycle riding and I could see how those dangers were multiplied ten fold on little scooters operated by inexperienced pilots who were full of vacation exuberance and didn’t have a clue about the Island roads or where they were going.

Notice I said I was an adult. That’s because I was 42 at the time, and I guess that classifies me as an adult. However, a good majority of the people who rent mopeds are adults, so what’s the problem? The problem is, the people who rent and ride mopeds are clueless or else they think they’re bulletproof. They think nothing is going to happen to them. I think everyone who intends to rent a moped should watch a short 5 to 10 minute film showing graphically what can happen and why. But that would be bad for business --- the moped business. When I started riding I made sure I had the proper protective gear, and I never rode without a good full-face helmet, a leather jacket and boots, not flip-flops and a T-shirt. I took a motorcycle safety course, more than once, and practiced panic stops and avoidance maneuvers on a regular basis. I also did a lot of reading and learned skills that actually changed the way I drove a car and viewed traffic situations. However, the poor souls who rent mopeds and race around this Island have little to no experience on anything with two wheels and a motor. I say this because riding a lawnmower doesn’t qualify as experience, nor does a 10-speed bike. Heck, I’ll bet most of these people haven’t been on a bicycle in years.

Every summer, the horror stories would unfold about vacation visitors who had never been on a moped, much less a motorcycle, and in some cases didn’t even have a driver’s license. Nevertheless, they were set free on the seat of a moped after riding around the block and/or listening to an anemic warning. They were allowed to ride wearing nothing more than shorts, a T-shirt and flip-flops or less, and with a cheap helmet bobbling upon their precious heads.

Every summer, the ER at Martha’s Vineyard Hospital received numerous victims of the moped’s unforgiving bite, and practically without fail, one of those victims would be damaged for life, or not survive. The MV Gazette would publish the sad details of these incidents along with the rhetoric, vapid promises and displays of crocodile tears from the venders, on a regular basis. I don’t expect you to read all these MV Gazette articles. The records readily available to me only go back to 2000.

Hospital Emergency Services Director Begins Comprehensive Survey of Moped Accidents Mopeds are dangerous. Or aren't they? Or, why, where, when and how are they dangerous?Originally published in the Vineyard Gazette edition of Tuesday, June 27, 2000

Moped Driver Suffers Serious Injuries A 37-year-old Watertown man is in stable condition after having been struck head-on by an oncoming car while riding a moped on Airport Road shortly after noon on Sunday.Originally published in the Vineyard Gazette edition of Tuesday, June 27, 2000

Moped Survey Lists Accidents Moped accident victims need more training — most have never driven a motorized two-wheeler before, and the average customer gets seven minutes of training at the rental shop. Moped crash victims tend to be short-term visitors to the Island, and they crash most frequently in August. More bicyclists are hurt each summer than moped drivers, but victims of moped accidents tend to be hurt far more seriously.Originally published in the Vineyard Gazette edition of Friday, January 5, 2001

Moped Safety Debated A forum at the Oak Bluffs School last night began with the findings of a recent study on two-wheeled vehicles and ended in a lengthy dialogue about the history, safety and future of mopeds on the Island.Originally published in the Vineyard Gazette edition of Friday, February 16, 2001

Moped Opponents and Dealers Reach Accord After Long Battle Casting aside deep differences, moped dealers and their politically active opponents formally agreed yesterday to implement a nine-point plan aimed at one goal — reducing injuries to moped riders.Originally published in the Vineyard Gazette edition of Friday, April 6, 2001

Police Extend Crash Probe One day after the family of Eric MacLean announced they were filing a wrongful death suit against Robert Cimeno and Beach Road Moped Rentals in connection with the car crash in March that killed Mr. MacLean, state police armed with search warrants Saturday moved in on Mr. Cimeno's business and a Cimeno family residence in Oak BluffsOriginally published in the Vineyard Gazette edition of Tuesday, June 5, 2001

Moped Crash Along Beach Road Claims Life of Virginia Visitor Three hours after renting a moped in Oak Bluffs Saturday morning, 30-year-old Katherine D. Miller tried to round a right curve on Beach Road near Harthaven, lost control of the moped and struck an oncoming car. She died of head injuries, becoming the fourth person killed in a moped accident on the Island since 1996.Originally published in the Vineyard Gazette edition of Tuesday, July 10, 2001

Moped Tragedy on Island Mourned and Accepted; Officials Ask for Training The 30-year-old woman killed in last Saturday's moped accident in Oak Bluffs loved to make furniture, especially chests and tables. Kate Dunnet Miller was president of her high school alumni association. "There was a charisma about her, a vibrancy. She was a real extrovert," said her mother-in-law, Dr. Caryn Miller of Washington, D.C.Originally published in the Vineyard Gazette edition of Friday, July 13, 2001

New Moped Crash Leaves Driver with Severe Head Injuries Just five days after a moped accident in Oak Bluffs killed a Virginia woman, another accident yesterday in Edgartown has left a 60-year-old moped rider from Florida in critical condition with severe head injuriesOriginally published in the Vineyard Gazette edition of Friday, July 13, 2001

Rising Moped Accidents Lead To Scrutiny of Town Regulations: Family Speaks Out Four weeks after her younger sister was killed in a moped accident in Oak Bluffs, Christina Dunnet Davis is vowing to join any campaign that will rid the Vineyard of mopeds.Originally published in the Vineyard Gazette edition of Friday, August 3, 2001

Oak Bluffs Leaders Back Moped Laws Convinced there's no way to make rental mopeds safe on the Vineyard, Oak Bluffs selectmen this week threw their support behind proposed state legislation that would require anyone renting a moped to have a motorcycle license.Originally published in the Vineyard Gazette edition of Friday, August 10, 2001

Two Crashes Hospitalize Riders Operators of rented mopeds suffered two serious accidents this week on the same stretch of Seaview Avenue near Lola’s Restaurant in Oak Bluffs. In both accidents, moped operators lost control, crossed the center line and crashed into oncoming auto traffic. Originally published in the Vineyard Gazette edition of Friday, August 17, 2001

Seven Owners Control Mopeds .There's money to be made in moped rentals on Martha's Vineyard, but just a handful of people are counting the cash — seven shop owners and four landlords, to be exact. Originally published in the Vineyard Gazette edition of Friday, August 17, 2001

Hospital Survey on Mopeds Shows Decline in Accidents from Last Season Levels New figures released this week from the Martha’s Vineyard Hospital show the number of people injured in moped accidents dropped sharply this year compared to the same period last year, but the statistics are getting mixed reviews.Originally published in the Vineyard Gazette edition of Tuesday, August 21, 2001

Moped Laws Are Ignored; Injuries Tell Tragic Tale Two middle school teachers from Florida, Judy and Barnard Lorence, should be back in their classrooms getting ready for a new school year, but there’s no chance of that now.Originally published in the Vineyard Gazette edition of Friday, August 24, 2001

Moped Laws Are Ignored; Injuries Tell Tragic Tale Oak Bluffs selectman Todd Rebello this week all but admitted that town officials have done a lousy job making moped dealers abide by town regulations, and selectmen agreed Tuesday night to improve local enforcement.Originally published in the Vineyard Gazette edition of Friday, August 24, 2001

Selectmen Support Tough Moped Laws After listening to a presentation by Sam Feldman of the Mopeds Are Dangerous Committee, the All-Island Selectmen Association unanimously decided to support legislation that would require a motorcycle license to rent a moped.Originally published in the Vineyard Gazette edition of Friday, September 7, 2001

Swapping Mopeds for Liquor License: Businessman Makes Deal in Oak Bluffs Here's the trade. A moped dealer who controls two rental outlets in Oak Bluffs is offering to shut down one moped shop.Originally published in the Vineyard Gazette edition of Friday, March 1, 2002

Spring Visitor Becomes Moped Casualty, Suffering Serious Injuries in Chilmark The Vineyard received an unfortunate sign of the summer season's approach last weekend when a Mashpee woman suffered severe injuries after her rental moped slipped off South Road in Chilmark Sunday afternoon. Originally published in the Vineyard Gazette edition of Friday, April 19, 2002

Town Leaders Wrestle with Mopeds Promising to show moped dealers no mercy this summer, Oak Bluffs selectmen have begun to toughen up moped bylaws, adding new language that will increase licensing fees, set higher penalties for violations and establish a minimum height limit for child passengers.Originally published in the Vineyard Gazette edition of Friday, April 26, 2002

Moped Crash Tells Sad Tale Months Later: Wife of Victim Recounts Nightmare Moped dealers like to look at the numbers this way: Of the thousands of people who rent mopeds every season, only a few end up crashing.Originally published in the Vineyard Gazette edition of Friday, May 3, 2002

Oak Bluffs Leaders Ask for Moped Cuts Voters in Oak Bluffs could put a significant dent in the number of mopeds rented in their town if they back a tough proposal put forth by selectmen. At a special town meeting on June 18, residents will be asked to approve a bylaw that would cut down the number of moped dealer licenses issued each year from seven to five.Originally published in the Vineyard Gazette edition of Friday, May 31, 2002

Statistics Show Drop in Moped Accidents According to new statistics released this week by Martha's Vineyard Hospital, the number of people injured in moped accidents during the first seven months of the year dropped sharply for the second year in a row.Originally published in the Vineyard Gazette edition of Friday, September 13, 2002

Hospital Reports Decline in Moped Accidents; Fewer Vendors, Tighter Laws Explain Trend Oak Bluffs had fewer mopeds and fewer dealers renting them this year. Now the hospital is reporting fewer people ending up in the emergency room after crashing a moped.Originally published in the Vineyard Gazette edition of Friday, December 6, 2002

When Two-Wheelers Crash, Moped Victims Suffer Worst, New Hospital Survey Reveals The latest survey of moped, bicycle and motorcycle accidents on the Island won't show the broken ribs, the punctured lungs or the "whole body rubbed raw" by a case of road rash, said Dr. Alan Hirshberg, the director of emergency services at the Martha's Vineyard HospitalOriginally published in the Vineyard Gazette edition of Friday, February 7, 2003

Largest Moped Agency Fails to Meet Deadline for Renewal of License After more than a year of tough talk about enforcing moped regulations and showing scofflaw dealers no mercy, Oak Bluffs is now giving a break to two brothers who own the biggest fleet of mopeds in town.Originally published in the Vineyard Gazette edition of Tuesday, June 3, 2003

Moped Rider Hit and Injured at Blinker; Selectmen Will Consider Four-Way Stop One day after a moped rider was hit by a car at the blinker light — the fifth accident at the crossroads so far this year — leaders in Oak Bluffs are poised to take drastic action to make one of the Island's most dangerous intersections safer.Originally published in the Vineyard Gazette edition of Friday, June 27, 2003
Oak Bluffs Selectmen to Check Moped Dealers' Record Books In the years of controversy and political wrangling over the safety of mopeds on the Vineyard, dealers have kept close guard over one vital statistic: the actual number of mopeds they rent and set loose on Island roads.Originally published in the Vineyard Gazette edition of Tuesday, August 5, 2003

Better Direction in Moped News: Accident Totals Continue to Fall Joanne Nutting is one of the 27 people who crashed a moped on the Vineyard last year and ended up in the emergency room at the Martha's Vineyard Hospital.Originally published in the Vineyard Gazette edition of Friday, February 13, 2004

Emergency Responders Report Moped Accidents Down Again Moped accidents were down again on the Vineyard this summer, and emergency responders cite better public safety education as a possible factor.Originally published in the Vineyard Gazette edition of Tuesday, September 20, 2005

Island Visitor Dies in Moped Accident A woman visitor driving a moped down a straight stretch of the Edgartown-West Tisbury Road in West Tisbury on Sunday was killed after she reportedly lost control of the two-wheeled vehicle and struck a utility pole head-on.Originally published in the Vineyard Gazette edition of Tuesday, July 4, 2006

Moped Fatality Incites Advocates for Change Sunday's moped accident that claimed the life of a 41-year-old New York City woman has reopened old wounds for Islanders who want to see stronger safety standards for the two-wheeled vehicles, and others who want them banned from the Vineyard altogether.Originally published in the Vineyard Gazette edition of Friday, July 7, 2006
As you can see, the latest casualty and fatality was on July 7, 2006 and as of this writing the passenger on this fateful moped has still not regained consciousness. Mopeds are dangerous!

I guess the logical question is, why do I care whether anyone rides a moped or not? I’m a real estate broker and that has nothing to do with mopeds. True, but I want my clients and prospective clients to be happy and healthy forever, and mopeds are dangerous. I can tell you this from personal observations and experience.

When I was on a Bermuda honeymoon back in 1967 when mopeds were relatively new to that Island, I remember being in my hotel lobby one evening enjoying a rum swizzle with my bride when 3 loud and possibly drunk men hobbled into the lobby, one hobbling more than the other. That was because he had a branch sticking through his leg and he was bleeding all over the place. He had run off the road on his moped. However, that didn’t stop my wife and me from renting mopeds the next day. Heck no, we were smarter and we would not be drinking and riding. It was a beautiful day when we took possession of our fun rides. We set out to explore the Island with me in the lead. As I gained more and more confidence, I would go faster and faster. Of course my bride, not willing to be left behind gave it the gas and stayed right on my tail. Did I tell you we didn’t have a clue where we were going and she was wearing a bikini and flip-flops? So, there we were whizzing along, and all of a sudden I heard this loud crash and wretched scream behind me. My child bride could not negotiate a fork in the road where there was tall stone wall in the center of the road. She crashed right into it, bouncing back out onto the asphalt and sliding about 15 feet on her stomach, chest and face. Did I tell you we weren’t wearing helmets? She lived, but the rest of our honeymoon was spent with her in the hospital.

My second experience was when I was working in Edgartown on Upper Main Street. At the time, I was parking my car in front of my office on the shoulder of the road, as did other people. I came out of my office at the end of the day and across the street were several summer vacationers lounging on the grass in front of the pizzeria. They motioned to me and told me to look at the side of my car. The entire front fender was caved in. I was shocked and asked if anyone knew what happened. They did, because they all saw it happen. A group of moped riders were racing up the street, horsing around, when one of them swerved and crashed into my car. The driver, who I would think would have been badly hurt considering the amount of damage, righted himself and sped away. I couldn’t believe it. Surely the moped was damaged? Surely the driver was damaged? I asked the witnesses what the driver looked like and what the moped looked like. The driver was wearing tan shorts and a white t-shirt, the moped was red. Talk about a needle in a haystack. I went to every single moped dealer on the Island and no one knew anything. My experience cost me over $2,500.00 to repair.

I haven’t ridden my motorcycles in several years, because I’m too busy and if I can’t ride regularly, I don’t want to ride at all. When I did ride, I would limit my riding during July and not ride here at all during August, because it was just too dangerous. I have been hit in the rear at a stop sign, chased and practically pushed off the road by kids on mopeds and constantly cut off by people cutting across my path who don’t know where they’re going. Without a doubt, I was invisible --- but not invincible. Mopeds are not toys and what makes them even more dangerous is the fact that the wheels are so small that the patch of rubber making contact with the road is miniscule. That, coupled with the fine carpet of sand that is always on the roads simulating tiny marbles makes stability that much more tenuous.

So, please don’t ride a moped on Martha’s Vineyard or let anyone you love ride a moped. Our Island Transit bus service is excellent and goes everywhere. There are guided tours going all over the Island and you can always hire a rental car or a cab. Our bicycle path network is constantly expanding and bicycles are a better way to get around, and exercise while you’re doing it. Did I tell you …

Just What Is Your Oval Sticker Trying to Tell the Rest of Us?

When I was a teenager and newly acquainted with Martha’s Vineyard, before Ted Kennedy’s sad indiscretion awakened the world to the existence of this little Island, souvenir shops were selling rectangular automobile plaques with white seagull silhouettes and the words Martha’s Vineyard on them.
I remember going back to New York proudly sporting my status symbol on the front of my car, proclaiming to God and country that I was a resident of MV. I showed it to my mother, who totally surprised me with her stern and emphatic response. “Take that thing off your car immediately”, she said. Then she explained that she didn’t want anyone to know about her special Island. Well, times have changed and today we want people to know where we come from, where we’d like to come from, and what kind of dog or cat we have --- even if we don’t have a black dog. I had to chuckle when I read the following article, and hope you will too --- and take that thing off your car immediately.

Click on Link to read essay - > Just What Is Your Oval Sticker Trying to Tell the Rest of Us?

How Do I Get To The Beach On Martha's Vineyard?

After I wrote my article about YOUR PERFECT BEACH, people starting asking me about the beaches on Martha's Vineyard.

Since Martha’s Vineyard is an Island, Martha’s Vineyard real estate not only includes sheep and horse farms, In-Town homes, Water View Properties on Lakes and Ponds, big and small, the Nantucket Sound, as well as the Vineyard Sound, but also water front real estate. Massachusetts is one of the view remaining places where it is possible to own your own beach, but what can you do if you are not fortunate enough to own your own beach?

The private beaches are off limits to the public. There are town beaches, but they’re only available to residents. The big question is, “How do I get to the beach?” Is there any access to the water for those who don’t own water front property and are just visiting? Do not despair, there are still beaches that welcome the public. The County of Dukes County has put together a comprehensive list of Island beaches. The beaches shown in RED are open to the public.

AQUINNAH

Lobsterville Beach
This beach is on Vineyard Sound, so the waves are generally small. There is limited parking for town residents only. Managed by the Town of Aquinnah.

Moshup Beach
This beach faces the Atlantic Ocean and usually has fairly large waves. While the beach is free to everyone, there is a fee for parking in the nearby municipal parking lot ($15 per day in season). Owned and managed by the Martha’s Vineyard Land Bank Commission.

Philbin Beach
This Atlantic Ocean beach is located off Moshup Trail. A permit from the Town of Aquinnah is required for all access to this beach. Managed by the Town of Aquinnah.

Red Beach
This beach is on Menemsha Pond, so the waters are normally calm. A permit from the Town of Aquinnah is required in season. Managed by the Town of Aquinnah.

Notice: So that you don't get caught with your pants down, I want to warn you that Aquinnah town officials have decided to enforce the long-ignored prohibition on nudity at town beaches, particularly Gay Head Cliffs. "No Nude Bathing" signs will soon go up announcing the rules and the possible fine - up to $50. For families with children who stroll down the beach toward the Gay Head Cliffs unsuspecting of the changing scenery, this may be a welcomed relief, but for others who for years have felt free to take their clothes off in the secluded privacy of the clay baths at the cliffs this is the end of an era. Times have changed, The Aquinnah police chief said with regard to the town's decison, "Times have changed"; there have been increasing complaints and incidents of "inappropriate behavior."

CHILMARK

Chilmark Pond Preserve
The swimming beach faces the Atlantic Ocean and is accessible by your own canoe or kayak, which may be launched from this property’s canoe drop on the Chilmark Pond shoreline. Owned and managed by the Martha’s Vineyard Land Bank Commission.

Great Rock Bight Preserve
The swimming beach faces the Vineyard Sound. Parking is limited and there is a lengthy hike over steep hillsides down to the beach. Owned and managed by the Martha’s Vineyard Land Bank Commission.

Lucy Vincent Beach
This beach faces the Atlantic Ocean with its normally heavy surf. There is a small area for swimming on Upper Chilmark Pond but this small section of beach requires about a one third of a mile walk east along the ocean beach. A permit from the Town of Chilmark is required for all access between June 1 and September 30. Managed by the Town of Chilmark. http://www.ci.chilmark.ma.us/beach2002.html

Menemsha Beach
This small beach fronts on Vineyard Sound and is adjacent to Dutcher Dock in Menemsha. Owned and managed by the Town of Chilmark. This is a municipal beach that is open to the public with free municipal parking. No permit is required. Lifeguards present in season.

Squibnocket Beach
This beach faces the Atlantic Ocean with its normally heavy surf. A permit from the Town of Chilmark is required for all access between June 15 and Labor Day. Managed by the Town of Chilmark.
http://www.ci.chilmark.ma.us/beach2002.html

EDGARTOWN

Bend in the Road Beach
This small beach fronts on Nantucket Sound. Owned and managed by the Town of Edgartown. Lifeguards present in season.

Cape Poge Wildlife Refuge
This northern part of Chappaquiddick is accessed via Dike Bridge on Chappaquiddick. The swimming beach is on the eastern shore of Chappaquiddick. Parking is free on the Dike Road side of Dike Bridge and a permit is required for four wheel drive vehicular access across Dike Bridge. Entry fee $3 per person from May 30 to October 15 (Trustees of Reservations members free). Owned and managed by The Trustees of Reservations.
http://www.thetrustees.org/pages/286_cape_poge_wildlife_refuge.cfm

Chappy Point Beach
This beach is on the Chappaquiddick side of Edgartown Harbor, adjacent to the Chappaquiddick ferry. There can be swift tidal currents and the beach quickly drops off into deep water. Owned and managed by the Martha’s Vineyard Land Bank Commission.

Edgartown Great Pond Beach
This swimming beach is on the barrier beach separating Edgartown Great Pond from the Atlantic Ocean. All access is by boat only; they may be launched from Wilson’s Boulevard at Turkeyland Cove Park on Edgartown Great Pond. Owned and managed by the Martha’s Vineyard Land Bank Commission.

Fuller Street Beach (Starbuck’s Neck Park)
This small beach is fairly close to downtown Edgartown and fronts on Nantucket Sound. There is very limited car parking at the end of Fuller Street. Managed by the Town of Edgartown.

Joseph Sylvia State Beach
This two mile long barrier beach separates Sengekontacket Pond from Nantucket Sound. It is a popular beach for families because the waves are usually small. If it is too windy and the waves are too large on the Nantucket Sound side there usually will be calm waters along the pond side. Owned by the Commonwealth of Massachusetts Department of Conservation and Recreation and managed by County of Dukes County.

Lighthouse Beach
This beach is only a short walk from downtown Edgartown and is on Edgartown harbor adjacent to the Lighthouse. Managed by the Town of Edgartown.

Norton Point Beach
This 2.5 mile long barrier beach separates Katama Bay from the Atlantic Ocean. Access is from either Katama Road or Wasque Road (on Chappaquiddick). There is often fairly heavy surf along the ocean side of this beach. The bay side is too shallow for swimming at the western (Katama) end of the beach; water deep enough for swimming is located about one quarter of a mile from the eastern (Chappaquiddick) side of the beach. Owned and managed by the County of Dukes County.

South Beach State Park
This 1.25 mile long beach fronts on the Atlantic Ocean, so there is often fairly heavy surf. Lifeguards present in season. Owned by the Commonwealth of Massachusetts Department of Conservation and Recreation and managed by the Town of Edgartown.

Wasque Reservation
Swimming beach fronts on the Atlantic Ocean. From May 30 to October 15 there are admission fees of $3 per car plus $3 per adult, with children (15 & under) free (Trustees Members free). Owned and managed by The Trustees of Reservations. http://www.thetrustees.org/pages/372_wasque.cfm

OAK BLUFFS

Eastville Point Beach
This small beach fronts on Vineyard Haven Outer Harbor and the channel into Lagoon Pond. The waves are normally small, especially by the drawbridge.

Joseph Sylvia State Beach
This two mile long barrier beach separates Sengekontacket Pond from Nantucket Sound. It is a popular beach for families because the waves are usually small. If it is too windy and the waves are too large on the Nantucket Sound side there usually will be calm waters along the pond side. Owned by the Commonwealth of Massachusetts Department of Conservation and Recreation and managed by County of Dukes County.

Little Joseph Sylvia State Beach
This small beach is on the barrier beach separating Farm Pond from Nantucket Sound, at the southern end of the seawall. The water is fairly shallow.

Marinelli Beach
This small beach is on Nantucket Sound adjacent to the channel into Oak Bluffs Harbor. There is limited parking with access via a foot trail through the East Chop Beach Club property along the harbor. Owned and managed by the Town of Oak Bluffs.

Oak Bluffs Town Beach
This Nantucket Sound beach is near downtown Oak Bluffs and runs from the entrance to Oak Bluffs Harbor southward past Ocean and Waban Parks. Lifeguards present in season.Sailing Camp ParkThis beach is on the generally calm waters of Lagoon Pond. Owned and managed by the Town of Oak Bluffs Conservation Commission.


VINEYARD HAVEN

Hillman’s Point Preserve
This swimming beach is on a sandy spit projecting into the normally calm waters of Lake Tashmoo. Owned and managed by the Martha’s Vineyard Land Bank Commission

Owen Little Way
This small beach is on the western shore of Vineyard Haven Outer Harbor at the end of Owen Little Way, adjacent to the Vineyard Haven Yacht Club.

Owen Park
This little beach is close to downtown Vineyard Haven and is located on the protected waters of Vineyard Haven Harbor adjacent to the town dock.

Herring Creek Beach (Tashmoo Beach)
This beach fronts on Vineyard Sound and the channel into Lake Tashmoo, at the end of Herring Creek Road, a dirt road off of Daggett Avenue. The waves are normally small. The currents can be quite strong in the channel. Lifeguard in season. Owned by the Town of Tisbury and the County of Dukes County. Managed by the Town of Tisbury.

Lake Street Beach
This small beach is at the end of Lake Street next to the town docks near the southern end of Lake Tashmoo.

Wilfred’s Pond Preserve
This swimming beach is on the usually calm waters of Vineyard Sound (not on the fresh-water coastal pond adjacent to the property). The beach is accessed via a short hiking trail from the parking spaces at the end of the road. Owned and managed by the Martha’s Vineyard Land Bank Commission

WEST TISBURY

Lambert’s Cove Beach
This Vineyard Sound beach is restricted to town residents (Car stickers are $40, walk-on passes are $10, available at the West Tisbury Town Hall) between mid-June and Labor Day, although the general public can use the beach after 5:00pm. Owned and managed by the Town of West Tisbury.

Long Point Wildlife Refuge
This beach fronts on the Atlantic Ocean and a freshwater pond (Long Cove). From June 15 to September 15 admission fees for nonmembers are $10 per car plus $3 per adult, pedestrian/bicyclist $3, children 18 and under free. Trustees Members free.
http://www.thetrustees.org/pages/315_long_point_wildlife_refuge.cfm

Sepiessa Point Reservation
This beach is on the usually calm waters of Tisbury Great Pond at the southern end of the property. This beach is on the generally calm waters of Lagoon Pond. Owned and managed by the Town of Oak Bluffs Conservation Commission. The beach is accessed via a short hiking trail from the parking spaces at the end of the road. Owned and managed by the Martha’s Vineyard Land Bank Commission.

Seth’s Pond
This small beach is on the fresh-water Seth’s Pond and parking is extremely limited along the sides of Lambert’s Cove Road.

I’m Looking for You, Are You Looking for Me?

By Peter C. Fyler - Exclusive Buyer's Agent

I'm constantly working to create more ways of reaching and attracting prospective real estate buyers to my exclusive buyer service. I'm not hard to find on the web. I work very hard at conveying my image in an open and forthright manner and it is not hard to figure out who I am or what I do.

Have you ever come upon an internet website that promises to connect you with the best real estate agent in the area where you want to buy property, if you'll just fill out their information questionnaire? I’m sure you’ve seen these websites, but did you know these companies are not in the real estate business, know nothing about the real estate business or the agents they refer? They share none of the liability of the real estate broker.

But many real estate people are enticed into subscribing to these lead referral companies. The companies charge big bucks for distributing all the so-called leads they capture. The lead referral fee can amount to as much as one-third of a broker’s commission on a sale. Furthermore, if these lead referral companies don’t make any money from the agents they refer to, they will cut them loose. As you can see, there's some added pressure to sell, sell, sell. There are dozens of these internet lead referral companies trolling around hoping to attract real estate agents who want to increase their business. However, does this service really benefit the consumer? I think not.

People ask me why I represent buyers exclusively, especially since it's their understanding that by working to get the best deal for my buyer clients, which also means getting the best price for my buyer clients, I will make less commission. That’s generally true. However, it works like this. If I do a good job and my clients are happy, comfortable and satisfied with the purchase they've made, they'll want others to have the same experience. Therefore, they refer prospective buyers to me, and that's how I make more money. I work very hard for my buyer clients and I’m comfortable with my commission arrangement as stated in my agreement. But what about the guy who is working for the same commission as I am, but knows that he's going to be giving up 30% to some entity he has no relationship with, who just sends him cold contact information? Is that guy going to work as hard for the buyer or harder for himself? Finding a good real estate agent is as easy as typing www.SplitRockRE.com in your browser address bar.

YOUR PERFECT BEACH

by Peter C. Fyler – Exclusive Buyer's Agent

These days with summer approaching, you’re probably commuting long distances for work or family responsibilities, sitting in your office, taking meetings, or doing countless mundane chores, BUT your mind is elsewhere. You’ve got Vineyard fever. You can’t wait until those precious few days or weeks you’ve allotted arrive so you can return to paradise.

The Vineyard is waiting for you and it is looking better than ever. The Boston Globe this past weekend acknowledged the Vineyard by publishing their picks for Best of in New England in an article titled, “Your Perfect Beach”. They picked this Island for the Best Waves….

“South Beach in Edgartown on Martha's Vineyard, also known as Katama Beach, has soft sand and gorgeous dunes. It's also a fantastic place for bodysurfing. Catch a frothy wave and ride it into shore -- with or without a boogie board. Beware that sometimes-fierce current can also make for a dangerous swim. Exhaust yourself with a ride, then rest up for your next trip out with a snooze. Parking is free, but you'll have competition.”

They picked this Island for the best Sunsets….

"With its rocky jetties, fishing docks, and near-still water reflecting golden orb and pink sky, Menemsha Beach in Chilmark on Martha's Vineyard is as photogenic as it is friendly. On summer evenings, tourists and locals alike gather there to toast the setting sun with raised glasses of chardonnay and lobster claws. (Chilmark's a dry town, so BYOB. Pick up your picnic before 7 p.m. at nearby Larsen's, which sells steamed and cracked fresh lobsters for rustic al-fresco dinners.) You can also take your fishing tackle and license and catch your own dinner while you watch the sun go down."

And, they picked this Island for the Best Nude Bathing. All right!

“New England is skimpy when it comes to clothing-optional beaches, but among the few, the unofficially nude area of Moshup Beach in Aquinnah on Martha's Vineyard is tops, with warmer water than other island beaches. And it's small enough that it doesn't draw crowds. Just be sure to cover up as you walk to and from the nudity-friendly areas near the cliffs marbled with clay; the other side of the beach attracts fully clothed families. There is parking for nonresidents, but it's limited, whether you're naked or not.”

Personally, I think we qualify for BEST in a lot of other categories, but we try to keep our best a secret. This brings me to a short story I want to tell you about my Sunday morning this past weekend.

A friend of mine, whom I assisted in purchasing a home here a number of years ago, came down for the weekend. He claims I forced him to buy it, but he keeps telling me over and over again how much he loves his home and how much he loves the Vineyard, so I guess I did the right thing. He sits at a desk all week and loves to be outdoors whenever he can get the time. He came across from the mainland Friday night and was out at the crack of dawn with all his fishing gear strapped to his Wrangler Jeep Island car, 18 psi in the tires and headed for Wasque. He spent all day fishing, and then blew off a dinner invitation from me, because he heard from the legendary Cooper Gillis that the Blues were running at Wasque from late afternoon until nightfall. He caught nothing.

He invited me to join him on Sunday and I accepted. I could not have cared less whether or not I caught anything; I just needed a mental health day and there is no better therapy than being on the beach, plus I always enjoy his company. We went out bright and early with fishing poles bristling from every porthole on his Wrangler. We looked like a porcupine, but very official. First stop was Wasque where the real fisherman had already lined up and the frantic flailing of long poles was in full motion. But, no one was catching anything. There were just as many real fishermen just sitting inside their trucks “watching the water for signs”, my friend told me.

After a while my friend said, “Well, we’re not going to catch anything today, so what would you say if we headed up to the Gut?” That’s what they call the tip of Cape Poge. I said, “Sure, that sounds great!”, so off we drove slogging our way through the deep moist sand and passing truck after truck of real fishermen --- catching nothing, but watching the water for signs. We passed a dead Minke Whale splayed out at the edge of the surf, garnished with seagulls hastening its return to Mother Nature.

I continued to gawk at how absolutely beautiful and magical the marshes and flood plains are all along the Trustees of the Reservations conservation land. Imagine driving along a slender strip of land simultaneously viewing, on one side the pounding Atlantic Ocean, and on the other side the placid waters of Cape Poge Bay; it is just mind boggling. Where was I? All of a sudden my friend said he wanted to stop and try fishing along a stretch of East Beach. We agreed to give it a try, and after backing the Wrangler into the obligatory perpendicular position, lest the tides catch us off guard and we have to make a hasty getaway, we got out and strutted up to the water’s edge in our big boots, poles in hand without a single soul in sight. We cast out into the surf. My friend is a serious, I mean real serious, fisherman so he watched intently whilst retrieving his line, but I just start reeling in, looking everywhere but at the water. It’s just too beautiful not to soak it in, and after all, I’m on a mental health day. I repeated the process another time, but this time my line wouldn’t retrieve as easily, it’s going the other way --- out! I caught a fish! I reeled it in, and it was big. I looked over and my friend was going through the same contortions I just experienced. We both caught a fish.

Now, this is where it gets ugly. After I caught three or four fish I was content and felt accomplished, but real fishermen like lots of fish, and Mother Nature was very accommodating this Sunday. Our combined catch was about 33 blue fish and two striped bass --- my friend seriously in the lead. What I really loved about the experience was, as soon as we started catching fish, the scent was picked up by other fishermen and all of a sudden they started to appear on both sides of us. It just goes to show, if you catch ‘um, they will come. However, they --- the real fishermen couldn’t catch ‘um. They looked at the lures we were using and changed to match, but they couldn’t catch ‘um. We finally left around noon, because my friend had to catch the ferry and I was seriously thinking about seeing my chiropractor. I know one thing for sure; I am now a real fisherman. There is no place like the Vineyard, but please let’s keep it a secret --- it’s the best.

Boston Globe excerpts: Writer Janice O'Leary lives in Boston. Writer Stephen Jermanok lives in Newton.