Phone
508-627-4424 | Fax 508-627-5771
Lighthouse Properties LLC is a Martha's Vineyard real Estate
and vacation rental agency.
We offer a combination of the most progressive technology with friendly,
personal service that exemplifies Vineyard style. We enthusiastically
look forward to working with you! |
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| Martha's Vineyard is
the largest unattached (no bridges) island on the eastern seaboard
with six unique and different townships, six lighthouses, hundreds
of miles of varying beaches, water views, ponds, and activities
for young and old. The beauty of this magical place touches all
who visit. |
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Real Estate Trends
on Martha's Vineyard
How's the market doing? It is a question we are asked very frequently,
even more now that our buyers and sellers have read about predictions
of the "bubble bursting". There are no signs of any decline in the
real estate market on Martha's Vineyard. To be sure, the days of
over-inflated values have passed, but sales of well-priced, good
quality properties continue to be robust. We see the trend as a
much needed and healthy move to the middle.
Inventory continued to rise in the housing category, dramatically
increasing in the fourth quarter of 2005 compared to a year earlier.
LINK, a Vineyard Haven service that tracks real estate transactions
on the Island, recently issued a report that shows that the pace
of Vineyard real estate sales slowed in both the fourth quarter
and for all of 2006. Although the concept of supply and demand would
ordinarily indicate a lowering of prices in direct response to an
increase in the number of listings on the market, there has not
been a significant impact on prices. While the willingness to negotiate
is there, prices remain high. Additionally, the average sales price
has steadily increased over the last five years, making the Vineyard
market a healthy, continually appreciating investment indeed.
Even the recent rise in long-term interest rates over the past year
is less of a damper than might be expected. Freddie Mac reports
long-term interest rates have climbed from about 5.64 per cent a
year ago to about 6.15 per cent now. This translates to slightly
lower prices or a greater willingness to negotiate, but mortgage
debt often is not much of an issue for many Vineyard property owners
or prospective buyers.
Despite some slight property price reductions, owners will realize
a substantial profit, given the rapid appreciation of properties
island-wide. Over the past five years, according to LINK, median
sales prices have almost doubled in Oak Bluffs, while rising 33
per cent in Edgartown and 44 per cent in Vineyard Haven. Median
prices on Cape Cod and the islands, according to the Mass. Association
of Realtors, are among the highest in the state, ranking with Boston
and northeastern Mass.
In all, the market here on Martha's Vineyard has "suffered" a healthy
correction, and should even out the playing field between buyer
and seller. Properties that are overpriced may not sell as well,
and those that are well priced will continue to score. |
Lighthouse
Properties opened in 2005, owned by Lisa Stewart and Hillary Landers,
who combine over 32 years experience in Martha's Vineyard real estate
sales and rentals. Lighthouse agents are all island residents who
are active in the Martha's Vineyard community and committed to preserving
the wonderful quality of life we share. Our goal is to establish
long term relationships with our clients by earning trust and respect
and providing prompt, honest and attentive assistance with both
rentals and sales. If you choose to invest in Martha's Vineyard
real estate, rely on the people who know it best!
We are members of LINK, the Martha's Vineyard association of real
estate brokers, and the Cape & Islands Association of Realtors.
We work cooperatively with all other firms on the Vineyard and can
show you any property for sale island-wide. |
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