Martha's Vineyard Exclusive Buyer Agent Real Estate News and Views including market conditions, vacation home and luxury property information concerning Edgartown, Oak Bluffs, Vineyard Haven, West Tisbury, Chilmark and Aquinnah. If it's on my mind, I'll discuss it.
Tuesday, July 18, 2006
Pedaling the Islands
Monday, July 17, 2006
The Vineyard Clothesline
• 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
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
Tuesday, July 11, 2006
Is Anything Happening in the Martha's Vineyard Real Estate Market?
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.
Monday, July 10, 2006
Mopeds Are DANGEROUS
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 …
Monday, July 03, 2006
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?
Wednesday, June 28, 2006
How Do I Get To The Beach 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.
Wednesday, June 07, 2006
I’m Looking for You, Are You Looking for Me?
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.
Monday, May 22, 2006
YOUR PERFECT BEACH
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.
Saturday, April 29, 2006
What's Wrong with the Housing Bank Property Transfer Tax?
Transfer Tax Proposals Face Fierce Opposition
Realtors Battling Initiatives in Four Communities; Most Martha's Vineyard Agents Voicing Support
By Aglaia Pikounis for Banker & Tradesman – Week of April 3, 2006
BAY STATE REALTORS state realtors are in the midst of battling four community proposals to charge consumers transfer taxes when they either buy or sell a home.
Realtors have fought transfer tax in the past, arguing that taxes that single out a particular group – namely home-buyers and home sellers – are inherently unfair and discriminatory.
"Local transfer taxes are an inequitable funding mechanism for community-wide responsibilities, whether it be acquisition of open space or the creation or maintenance of affordable housing," said Stephen Ryan, general counsel and government affairs director for the Massachusetts Association of Realtors. These are community responsibilities."
Transfer taxes pop up from time to time as cash-strapped cities and towns struggling with budget shortfalls by to find new ways to generate revenue.
Unlike other transfer tax proposals that seek to alleviate local budget woes, however, Manilas Vineyard wants to charge home sellers a 1 percent tax to fund affordable housing. A home rule petition already has been filed and last month the state Legislature's Revenue Committee reported favorably on it, referring the measure to the Senate Ways and Means Committee.
The island, along with Nantucket, already imposes a 2 percent tax on homebuyers that is placed into a Land Bank for the acquisition of open space.
While those in the real estate industry are generally opposed to transfer taxes, the Martha's Vineyard proposal has won the support of the majority of Realtors on the island, according to supporters of the tax.
"We have a crisis here. We are losing our young people. We are losing our middle class," said Candy DaRosa, an agent with Karen M. Overtoom Real Estate in West Tisbury who supports the measure.
Members of the Martha's Vineyard Housing Bank Coalition say the .transfer tax would be a good way to raise funds for sorely needed affordable housing. DaRosa said unlike other transfer tax proposals, the Vineyard tax is different because it would be used for housing.
"The problem is housing and we're finding a way to make housing the solution," she said. "This is about a stable, affordable roof over your head."
All six towns on the island approved the creation of a housing bank, which would provide money for affordable housing, last spring. The housing bank would be funded through the 1 percent transfer tax. Under the proposal, "homeowners selling homes under $760,000 would be exempt, and only the portion of a sale price exceeding $750,000 would be taxed. For example, on the sale of a $1 million home, only $250,000 would be taxable.
The median price for a single-family home in Dukes County last year reached $650,000 - the second-highest median single-family home price in the state, according to statistics from The Warren Group, parent company of Banker & Tradesman. Only Nantucket's median home price, which exceeded $1.4 million last year, was higher.
Yet, the median income for a family of four in Dukes County, $60,400, is 30 percent below the state average. Incomes have clearly not kept up with soaring housing costs on island, the tax supporters argue.
"There's always a misperception about people who live and work here - about them being well-to-do, and it's just not the case," Richard J. Leonard, president of the Martha's Vineyard Cooperative Bank and a leader of the island's housing coalition, told Banker & Tradesman several weeks ago.
Leonard pointed out that median income rose 17 percent between 2001 and 2004 in Dukes County, while housing costs skyrocketed 114 percent during the same period.
‘A Very Selective Tax'
But opponents say the transfer tax is not an appropriate solution.
"We're trying to create affordable housing for people who are still going to be poor," said Peter Fyler, an exclusive buyer's agent who owns SplitRock Real Estate in West Tisbury. "You're going to give them a place to live, but they're still going to be, struggling with other living costs."
Fyler said the tax would affect nearly every property on the island, since most homes that are listed for sale are valued at over $750,000. . . .
If there is an interest in creating more low-cost housing, Fyler said, local officials should consider setting aside money from the Land Bank for housing.
"The coffers of the Lank Bank are so rich and so deep, why don't they adjust the fee that goes into the Land Bank and give up a percentage ... for affordable housing?" he said. "We're looking for space for affordable housing and yet we've taken a lot of space for conservation."
And some opponents also point but that four towns on the island already have approved the Community Preservation Act, a property tax surcharge that is used for affordable housing, open space and historic preservation projects.
If state lawmakers and the governor sign off on the home role petition for the transfer tax, the measure would still have to receive a majority vote from all six towns on the island.
While the Massachusetts Association of Realtors testified in opposition to the Martha's Vineyard tax proposal at a State Housing hearing in January, leaders of the Cape Cod & Islands Association of Realtors have not taken a position.
Henry J. DiGiacomo, chief executive officer of the Cape Realtor association, said the group decided not to take a stance because there is neither overwhelming support nor overwhelming opposition for the tax from Realtors on the island.
"We didn't feel like we had enough information," he said. "We're trying to be respectful of our members and to the unique needs of our members."
But the organization has voiced strong opposition to a transfer tax proposal in 'Chatham. In that town, selectmen endorsed a Town Meeting article in mid-March for a 1 percent real estate transfer tax on home-buyers to pay for the upgrade and expansion of its wastewater treatment system.
The article, if approved at Town Meeting on May 8, would proceed to the state legislature.
"One percent sounds like nothing much at all, but ... transfer taxes are unfair and bad public policy," said Keith Bradley, a Realtor with The Real Estate Co. in Orleans.
Bradley said transfer taxes are an unreliable source of income, subject to the ups and downs of real estate cycles, and home-buyers can't finance them.
And transfer taxes, opponents argue, ultimately end up driving housing costs up.
The median price for single-family home in Chatham was $775,000 last year, according to The Warren Group. If the tax were in effect, half of the 212 buyers who purchased a home last year in Chatham would have faced a tax bill of more than $7,750.
"Some people make it sound like it's an initiation fee, that if you really want to be in Chatham you're willing to pay this," Bradley said.
But Bradley said homebuyers have other desirable towns to choose from, and transfer taxes could drive prospective purchasers, including second-home buyers, to other communities.
Nantucket also has filed a home rule petition because island leaders want to charge 0.5 percent on homebuyers, on top of the 2 percent tax they pay for the Land Bank, to pay for a wastewater treatment facility.
The home rule petition was referred to the Legislature's Joint Committee on Municipalities and Regional Government, which decided last month to study the issue.
Joining Chatham, Martha's Vineyard and Nantucket, officials in Westwood are also exploring whether to impose a 2 percent tax on buyers for capital projects and school maintenance.
Local Realtors are "alarmed" by the tax idea, which they feel is bad and regressive, according to Joseph Delaney, a broker with RE/MAX Landmark Realtors in Westwood.
"Inherently, it's a very selective tax," he said.
Delaney said homeowners in Westwood already face steep property taxes. The tax would add an additional burden for first-time buyers who are struggling to afford a home, as well as senior citizens who may want to sell their larger homes, and purchase a smaller residence in town, he added.
The median price for a single-family home in Westwood was $595,000 last year. That means that in half of the transactions that closed last year, homebuyers would have had to pay nearly $12,000 if the tax were in place.
Delaney noted that Westwood, and other towns, can find other ways to increase revenue, including passing an override of the state's Proposition 2? property tax cap.
MAR organized a meeting of local Realtors recently to discuss the issue.
"People who came to the meeting were very concerned about the negative impact that the transfer tax would have," Delaney said.
Sunday, March 12, 2006
Hiring an Exclusive Buyer Agent is like having your very own Sherpa
The other day I was having a slightly heated yet healthy discussion with a prospective client; she was arguing against making a contractual commitment to an Exclusive Buyer Agent. It was her belief that she would stand a much better chance negotiating a lower purchase price for a property if she dealt directly with the listing agent. Obviously, my argument was to the contrary as I tried to explain to her about fiduciary responsibility, seller agency, buyer agency, dual agency, designated agency, transaction agency and the nature of the beast in the real estate jungle.
I explained to her that a listing agent works exclusively for the seller. Therefore, it is the listing agent’s explicit duty and responsibility to get the highest and best possible price and terms for their seller, and that is exactly what they will strive to do. “Isn’t that what you would want and expect from your agent if you were selling your house?” I asked. A seller’s agent cannot and will not advise a buyer on creating an offer that works against their seller’s best interests.
I challenged her by asking, “If you walked into a real estate office and presented yourself as a ready, willing and able buyer, expressed an interest in a listing that was controlled, marketed and advertised by that office, do you really believe the agents in that office would advise you on how to negotiate to your best advantage?” Furthermore, real estate is a business and it is a costly business to operate; therefore, the more money an agent can make for the seller, the more they also make for the office, and for themselves.
I went on to describe a recent real-life experience I had in hopes of further illustrating the need for exclusive buyer representation. I told her I was communicating with a broker/co-owner of a small office in another state. I was trying to find an exclusive buyer agent to represent my son in a home purchase. I did a search through the professional exclusive buyer agency organizations I belong to. Unfortunately, exclusive buyer agency is still a relatively new concept, and not practiced in many smaller communities. I told the broker I was looking for an exclusive buyer agent. She perked up and said, “That’s me!” I responded quizzically, “You represent sellers by taking listings so how can you represent buyers exclusively? What happens when someone is interested in one of your properties? Don’t you have to become a disclosed dual agent?” She exclaimed, “Oh no, we don’t do that, we don’t believe in representing both parties in the same transaction.” “So” I asked, “then you become a transaction broker or facilitator and represent neither the buyer nor the seller?” “Yes,” she proudly proclaimed, “That’s right, and we have a b-i-g safe where we lock everything up.” Not being at all familiar with the market in that area, needless to say, her assurances did nothing to further my comfort level. I was looking for someone to advocate for my son, someone with his best interests at heart who would guide him through the process of buying a home. I hung up the phone wondering to myself how many people have the combination to that b-i-g safe.
Getting back to the outcome of my conversation with the prospective client, when I was finished explaining all the nuances of agency law to her, she looked at me like a stunned deer does at night when a car’s headlights shine into its eyes. She said, “Wow, that sure is complicated, but I see what you mean. I would be much more comfortable knowing that my relationship with an agent was going to stay the same until after I bought my new home.” I presented her with my contract, explained it in detail and together we crafted it to fully satisfy her needs. She happily signed it and together we will find the right home for her.
In all of my marketing materials I stress the fact that finally buyers have the opportunity to be represented and to have their interests protected. In order for that representation to be 100% Exclusive 100% of the time, that buyer agent cannot represent the seller in any way. As an Exclusive Buyer Agent, I am committed to working very hard for my buyer clients and I know one day consumers will “get it”. They will truly understand the concept and seek out exclusive buyer agents. I was reading an article by Ilyce Glink, an award-winning, nationally-syndicated columnist, television reporter, radio talk show host and best-selling book author. She said, “A good buyer's agent earns much more than the 2%-to-3% commission. That's because buyers don't have the deep knowledge of neighborhoods, comparable homes and current prices of an experienced agent.” She went on to say,”Your agent is more than just someone who drives you around. Your agent is supposed to be your eyes and your ears, helping you sift through what information is valuable or not when constructing an offer." Now don’t worry, that commission Ms. Glink is referring to is usually offered by the seller and we accept it, so it should not cost you any extra to have exclusive representation.
If you want to buy real estate on Martha’s Vineyard and you want to do the responsible thing, start out by engaging an Exclusive Buyer Agent. Contact SplitRock Real Estate for professional and knowledgeable service. You’ll be glad you did when you’re sitting at the closing table.
Monday, February 20, 2006
Modular Home Invasion
I read an article in the Real Estate Section of the New York Times back in January 1999 that peaked my interest in Modular Homes. It reported on the new wave of modular homes filtering in to some of the most affluent upscale communities in the Northeast. The article described an 8900sf 23-box modular home construction in Greenwich, Connecticut of all places. Another large modular home was being put together in Armonk, New York. Up to this point my understanding of modular homes was limited to what was called a “double-wide”, those ugly little ranch houses that look like trailer conversions or two trailers tied together up on blocks. I was soon to learn this was no longer true. I went to visit one of the companies named in the article, Westchester Modular Homes in Patterson, New York. I inspected their model homes and spoke with a friendly factory representative. Westchester Modular Homes has their factory in Wingdale, New York, so I went over there and took a tour. The factory is like a huge football stadium and everything is done indoors in a controlled environment. It was amazing. Some of the other manufacturers interviewed for that New York Times article were Excel Homes in Liverpool, Pennsylvania, Homeworks Modular Homes in Ronkonkoma, New York, New Era Building Systems in Strattanville, Pennsylvania and New England Homes in Greenland, New Hampshire. I learned that when considering a modular home, it is the dozens of available upgrades that will drive up the price. The final finish work after the boxes are installed on your site is what defines the visual quality of the final product and we have many excellent finish carpenters on Martha’s Vineyard who are real craftsmen.
Ever since my experience at Westchester Homes in 1999, I have been a great believer in modular home construction. My appreciation is partly due to seeing the level of quality, or lack of quality, produced during the 80’s when anyone who could hold a hammer came to Martha’s Vineyard to cash in on the boom. Unless you are fortunate enough to engage one of the top builders, many of whom are committed to projects 6 to 24 months in advance, you may be at the mercy of poorly managed construction crews that create inferior products with numerous inconsistencies. It has been my observation that quite often workers spend more time running back and forth for nails and coffee than time on the job, or they disappear for no apparent reason not to return for many days. Excavators, framers, masons, electricians and plumbers work in weather that even the seagulls would seek shelter from, but in many cases it is not their fault. Stick-built construction takes a lot more time and most clients want everything yesterday. If you are going to have your home stick-built, you have got to be patient.
Today we see more and more modular homes being constructed on Martha’s Vineyard as the harbor and roads are choked by these monsters being maneuvered to their final resting place.
I do not agree with some of the statements made in the following article published in the February 19, 2006 Real Estate Section of the Boston Globe, because I have been told by manufacturers that prices for stick-built and modular are about the same if you compare them apples-for-apples. I do not agree that the construction price on the Island starts at around $200 per square foot. We have not seen that number in a few years; it is more like $350 per square foot today and ranges up to $550 per square foot at the high end. However, the article is interesting, so I offer it for your edification.
Click here to read article -> Modular Home Invasion on Martha's Vineyard
Saturday, February 18, 2006
Is owning a Condo on Martha’s Vineyard the right lifestyle for me?
If by chance you have a choice of units, which rarely happens here, compare unit locations. Consider not only the compass location as it relates to the seasons, but also noise producing factors like proximity to the community pool, tennis courts or playground, club house, or main roads and bike paths. Where available, second floor units are usually quieter, but not as convenient for senior citizens.
The price of owning a condo does not end with the mortgage. I cannot stress this enough: There can be numerous fees. Some of those fees are basic, while others are hidden and undisclosed or pending but not due until after the closing. You need to attach a dollar value to all those amenities and conveniences and evaluate exactly what you are receiving for the fees you are paying. Is it all worth the price? In most cases, fees that are due prior to closing are the responsibility of the seller but disclosed fees due after the closing are the responsibility of the buyer, so make sure you have a clear picture of all finances that could effect you. Is there a HOA emergency fund account and how much is in it? Are there any major maintenance projects being considered for additional assessments? These are all questions you should be asking.
Get copies of all documents current to the date of closing. You want to review the minutes from the Home Owners’ Association (HOA) meetings and the Condominium Documents and Declarations. These documents as well as additional information like the public offering statement which outlines the Conditions, Covenants and Restrictions are available from the Registry of Deeds, the condominium management company or the law firm representing the property owner. When reviewing the documents, pay close attention to voting rules as well as current and proposed changes in the budget. Be sure you know how the responsibility for common areas is handled. You want to know how many parking spaces are attached to your condo ownership and where they are. You want to know the rules and location of additional parking when you have visitors. You want to know what your storage area looks like and where it is located. Be sure you are clear on any restrictions that could limit your use of spaces outside your unit, as well as limitations and restrictions regarding rentals, both in terms of income and time period. There are also sure to be restrictions regarding ownership of pets. One of the best ways to know what life is going to be like in your new condo is to talk to people who already own condos so don’t be shy, knock on doors and approach people.
Martha’s Vineyard is first and foremost a vacation area and one of the main businesses here is taking care of the homes of seasonal residents. Most properties require minimal maintenance and caretakers charge very reasonable rates. The choice is yours, but for my money I want to own the dirt.
Friday, February 03, 2006
When real estate agents get together, what do they talk about --- Real Estate!
I was chatting with some of my colleagues the other day regarding their perception of today’s market. There is an old saying in real estate; your first offer is usually your best offer. That advice should be given to sellers when they ponder the question, "If I hold out, will I receive a better offer?".
I think this is an opportune time for buyers because sellers are not sure how solid this market is. One of the seller’s agents I was speaking with said he believes sellers are becoming surprisingly willing to engage and negotiate offers far below their asking price. They are anxious, impatient and driving the seller agents crazy with their #1 question, “Why am I not getting any offers on my property?” This all confirms my belief that this is a good time to get into the market, although I can tell you the market is very solid on Martha’s Vineyard despite the fact it has slowed down.
I believe for the next few years we will experience single digit appreciation opposed to the double digit gains we have realized for the last few years. These numbers are nothing like what we saw in the mid 80’s but speculators are still over extended. In the late 80’s, speculators got arrogant and kept on investing in more and more properties and/or building more and more houses. When the bubble burst they were left holding a big bag. Once again I think they are “feeling” stuck and they are panicking. However, this time the stakes are much higher as property values have at least doubled to perhaps tripled in some areas and the houses are equally large.
Panic is good; it translates to my belief that if you want to get into this market and make a long-term investment, now is the time to do it. However, I want to be perfectly clear; you have to approach the market with finesse if you want to succeed. This means “low ball” is not the operative game plan, but bold realistic offers are what could make you a winner. In my opinion the smart strategy is to approach the process with the mindset, 1) you cannot be emotionally attached because you may be buying a stepping stone which means it might not be the perfect scenario or your permanent vacation home, and 2) you have to be willing to walk away and move on to the next property if the seller does not accept your offer. As my mother and some old guy used to say, “Faint heart never won fair maid”. Another clichéd phrase is “nothing ventured nothing gained”. You can always revisit your offer another day, shall we say, after the porridge has cooled down.
I will close by relating my own experience when I wanted to buy a home in Florida. My wife and I looked and looked, and every time we went to Florida the prices were higher. Finally, I said we had to do something or we would never get into that market. We bought a property that has gone up practically 100% in two years. I realize our gain is only on paper right now but the market is still strong in the area and when we are ready to move to the property we really want, we will have this property as our foothold and margin builder. I don’t know if that makes sense to you but I think we did the right thing.
Wednesday, February 01, 2006
Come to the Vineyard and enjoy an Uplifting Experience!
It's a new year up-lifting real estate theme: take a
look at how easy it is to lift up a house on Martha’s
Vineyard. You may find the perfect house in the perfect
location with the only negative being the foundation
--- a crawl space or a severely compromised block or
stone foundation. It is considered routine and common
place here to lift up a house and put an entirely new
poured concrete full foundation underneath the structure.
The costs can range from $30K up to $50K or more depending
upon the size of the house. So, do not be scared away
from your dream location just because a perfectly good
structure or Vineyard classic home has an inadequate
and outdated foundation.
Baby Boomers and estate taxes
Also, since 1981 the ANNUAL GIFT TAX EXCLUSION remained at $10,000. In 2002 it was increased to $11,000 and for 2006 the annual gift tax exclusion has increased from $12,000. This is a good way of gifting portions of your property to your children. You can do this in conjunction with establishing a Trust. You must remember to have a professional appraisal done every two years.
January 13th sale sets new record
Rental Bookings look strong for Summer 2006!
SplitRock RE welcomes Benjamin Onega as Sales Associate
Misguided perception and advice from Seller Broker
In particular, I am concerned about what I consider to be a misguided perception on the part of Seller Brokers. They advise sellers to remove their property from the market during what they consider to be the slowest period in the market, thereby erasing the time-on-market paper trail in the system for that property listing. In other words, they think they will have fooled the buying public into thinking the property is brand new and hot to the market. I know I have educated you to realize 1) in recent history it is most likely the seller who prices the property and, 2) the broker and seller have agreed that after a certain amount of time on the market the seller will acquiesce and reduce the price. The MLS system only records two price changes and after the second price change, the first one drops off the system. Once a property has been removed from the market it loses its history because in most cases the property will not be recorded as having been “off the market” at one point.
What I am trying to say is that I will always do my best to recall and report accurately on the changes in the market but, in particular, I must change the way I report “Price Changes”. Going forward I will primarily report the date of the last price change instead of the total period of time the property has been on the market. I cannot guarantee the sequence of events as it pertains to numerous price changes. However, as long as my flimsy memory holds together and I can remember properties that have been on the market before, I will alert you to that fact. I strongly suggest that you track the history of, and keep notes on, any property you are interested in.
As always, please visit my web site SplitRockRE.com for the most up to date information and to sign up to receive my Inner Circle e-Newsletter.
- Peter Fyler