Real Estate News & Stories from Martha's Vineyard

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On Martha's Vineyard
Vineyard Open House Real Estate
Vol. I, No. 3        Mid-Summer 2015

Headlines

Vineyard July Celebrations (Photos)
We're Growing!
Mortgage Trends
__Market Update
Last Minute Rentals  
On the Market Now Home under $500,000 Home under $1M Home under $2.75M Next Issue Coming Up at Vineyard Open House

Welcome to the heart of the summer! July 4th has come and gone, and so has the annual Vineyard Cup sailing extravaganza (photos below), but there is still more to come--the annual Cottagers Tour (see below), Musical Mondays at Featherstone, Sharks baseball, gallery shows, Vineyard Playhouse events and so much more. People are also celebrating the re-opening of the Capawock and Strand movie theaters and the opening of new eating spots such as La Soffitta and Wolf Den Pizza.

Vineyard Open House has been busy, too, with the opening of our Rental Division last spring, recent sales and a fabulous summer intern who has been handling all our social media. If you're on island, please come by for our Coffee Friday, July 24th from 9 am to 12 and pick up some goodies that we are giving away. And of course, if you are looking to buy or sell a home, please give us a call (508) 338-2495, or send me an email. Stay cool!--David Lott, Owner/Realtor, Vineyard Open House Real Estate

Vineyard July Celebrations

Martha's Vineyard celebrated Independence Day with a bang!

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                                          Martha's Vineyard's finest leads the march through Edgartown.

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                                          American spirit on wheel- one of the many classic cars featured in the parade rolls by.

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The crowd was transported back to 1776 with patriotic tunes & rifle fire from these patriots.

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No Independence Day would be complete without fireworks over the Edgartown Lighthouse.

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Holmes Hole sailing is back in action. The annual Vineyard Cup was held just last weekend._

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Come See the Cottages, Old Friend

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_A sight to see on the 2015 Cottagers Tour.                                                                                      Jeanna Shepard Photo
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Five historic Oak Bluffs cottages are on display in the annual Cottagers Tour this week. Check out David Lott's preview preview article published in the most recent Vineyard Gazette which outlines the beautiful properties featured, including Ron and Charlayne Hunter-Gault's tasting of South African wines which they have been importing for more than a decade.

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**_We're Growing!_**_

Vineyard Open House is continuing to expand with the addition new services and new team members.

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Kristin Zern, Director, Rental Division

Would you like us to manage your summer rental property? Kristin works with a select group of properties, offering the owners world-class service in managing and organizing their properties and the renters therein. For more information, contact Kristin Zern or call Vineyard Open House Real Estate, (508)-338-2495.

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Annie Schenk, Summer Intern

For the third consecutive summer, Vineyard Open House has hired a summer intern. Annie Schenk attends Northeastern University and helps promote  Vineyard Open House, plus properties for sale and rent with blog posts and social media updates to our Facebook, Twitter and Pinterest accounts. Follow Annie's adventures--#SummerIntern--on Twitter (VnyrdOpenHouse)

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Whither Mortgage Rates?

Rates are edging up in anticipation of the promised Fed rate increase which has yet to arrive.

30 Year Fixed Rate         15 Year Fixed Rate
Martha's Vineyard Bank    4.250%          3.375%    
Santander Bank                   4.125%           3.375%  
Cape Cod 5                            4.125%            3.250%

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Market Update

The real estate market continues to build up steam. The bottom line, though, is that it is still a buyer's market. While there are 200 fewer properties for sale than at this time last year, there are still 300 properties looking for buyers.

Properties that have been fixed up with new kitchens and baths and priced right are going quickly, and Edgartown and its higher-end homes continues to be the sales leader both in numbers of homes sold (32 in Q2) and the selling price percentage over assessment (137%).

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Last Minute Rentals

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Location: Trails End, Chilmark Details: 4 Bedrooms, 3 baths, sleeps 6+
Special Features: AC, Lucy Vincent Beach
Fees: $900 Refundable Security Deposit, $300 Cleaning Fee

Weeks Available:

7/11-18   $5,500
7/18-20 2 night extension $800 per night.

For More Information: Contact Kristin Zern or, Call Vineyard Open House Real Estate, (508)-338-2495

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Location: Cat Hollow, Vineyard Haven
Details: 3 bedrooms/3 baths, sleeps 6
Special Features: AC, Owen Park Beach nearby, walk to the ferry
Fees: $500 refundable security deposit, $250 cleaning fee

Weeks Available:

7/18-7/25   $2,950
7/25 – 8/1  $2,950
8/1 – 8/8    $2,950

**For More Information:** Contact Kristin Zern or, Call Vineyard Open House Real Estate, (508)-338-2495

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Location: West Tisbury, Martha's Vineyard

Details: 4 bedrooms/2 baths, sleeps 8
Special Features: AC in bedrooms, Look's Pond nearby, walk to Alley's General Store, the library and 7A Deli
Fees: $500 refundable security deposit, $300 cleaning fee

Weeks Available:

7/12   $2950
9/13   $2500
9/20   $2500
9/27   $2500

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**On the Market Now
**

Here's a sampling of homes for sale in three different price brackets. Please contact me if you want to know more, or want to investigate other properties.

Under $500K

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This unique and cozy Vineyard Haven cottage is surrounded by lush greenery.

Vineyard Haven - 36 Circuit Ave. $415,000

Details: 3 BRs, 1 BAs, 1072 SF, .30 acre

With a refreshed interior and prime location right along Sheriff's Meadow woods, a short walk from downtown Vineyard Haven, this home is an ideal vacation or year round property. Classic features, like the gas fireplace and homey window seat are mixed with modern amenities, such as the fully renovated kitchen with breakfast bar.

The house is split level, with a three comfortable bedrooms and a bathroom on the lower level, and a bright and airy open living, dining and kitchen area up a half flight of stairs. Out back, you can enjoy the peace and quiet of the wooded lot on the deck, a great place to grill and entertain. Send me more information about this home!

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Under $1 Million

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Spend the evening reclined on the wraparound porch on this Victorian home.

Oak Bluffs - 1 John Wesley Ave.  $699,000

Details: 4 BRs, 3 BAs, 1,593 SF, .08 acre

This East Chop home is filled with unique charm from the two master suites, to the original diamond windows and wood burning fireplaces. On the first floor, an expansive living room with cathedral ceilings is a lovely, airy space to entertain, and the large eat in kitchen is sunny and bright. A ground floor master suite features a brick fireplace and built ins.

Upstairs is the ultimate bonus, an additional master suite, as well as two more bedrooms with a shared full bath.  Outside, you can enjoy a meal and the privacy of this location, across from the Baptist Temple town park and a short stroll to the Oak Bluffs harbor, on the spacious porch. Send me more information about this home!

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Under $2.75 Million

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With six bedrooms inside & over an acre outside, space is no issue for this West Chop gem.

Vineyard Haven - 21 Iroquois Avenue - $2,475,000

Details: 6 BRs, 3.5 BAs, 2,502 sf, Acreage: 1.2

Located on the West Chop "loop" this spacious year-round home gives you a classic Vineyard feel with modern updates. Enter and be invited into the bright living and dining rooms, where grand French doors let in the sun and summer breeze and come winter, the stately fireplace creates a cozy environment for friends and family. The country kitchen and butler's pantry add to the charming original features.

Privacy is abundant in this house, beginning with the master bedroom suite and private deck sequestered in its own end of the first floor. With separate space in each of the five additional bedroom, two on the ground floor and three upstairs, there's ample room for extended family and guests.

Outside, the spacious back deck and more than an acre of land are perfect for entertaining, catching some sun or taking a peek at the water in the distance. The home's location within walking distance of the (private) West Chop Club and beach (membership required) and Vineyard Haven are an added bonus and convenience. Send me more information about this West Chop home!

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Next Issue

VOHRE Fall Newsletter 2015

  • What's New to the Market
  • Vineyard Summer Recap
  • Recent Sales

Coming Up at Vineyard Open House

Watch for our new Coffee Fridays at our Union Street office in Vineyard Haven from 9 am to Noon. We'll be serving Chilmark Coffee, updates and advice about the Vineyard real estate market. And if you are getting ready to sell your home, we'll be available to talk about marketing your home and the many ways we can help you sell it fast. Contact David Lott for more information.

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_'On Martha's Vineyard' is published by Vineyard Open House Real Estate. Copyright 2015.

_For real estate information or questions about listing your house with us, please contact: David Lott, Owner/REALTOR, 10 Union St., Vineyard Haven, Martha's Vineyard, MA. Office: 508-338-2495, Cell: 203-270-9357. Broker, Mary Sullivan, Sales Associate/REALTOR, Kristin Zern, cell: 914-439-2047, or send us an _email_

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