Blog - Martha’s Vineyard Online

Archive for August, 2012

Mortgage rates going lower with economy and Real Estate resource sources

Friday, August 31st, 2012

The week that ended today saw some lows in the economy, even though the real estate market is holding its own. The Federal Reserve may have more stimulus on the way. The article is in the housingwire.com today.

We did a search on the Federal Reserve site to see if we could find this announcement and could not. However, we were able to find the following video which highlights the fact that the Federal Reserve offers a free, independent foreclosure review for borrowers from 2009/2012 who feel they were affected by “direct financial injury due to servicer error.” This began in May.

This was a good reminder that if a family needs some resources or information about renting, buying, refinancing and the like, even the Mass.gov site has some resources. You can also contact your local real estate broker or agency to ask some questions.

For more from Kerry Quinlan-Potter, visit marthas-vineyard-news.com or contact Kerry Quinlan-Potter directly to discuss Martha’s Vineyard Real Estate and building, 508.292.0314 or email her at Kerryqp@comcast.net.

In the news this morning : Massachusetts Real Estate, Home Sales Jump (Obviously an affect to be seen in Martha’s Vineyard Real Estate)

Thursday, August 30th, 2012

The housingwire.com reports this morning that home sales in Massachusetts have soared over year ago numbers. They have increased 27% according to research firm The Warren Group, the Ticker reports.

“The state recorded 4,979 single-family home sales last month, compared to 3,922 sales a year earlier. The Warren Group declared it the Bay State’s best July in seven years when analyzing home sales activity.”

This jump includes condo prices. To read the article, scroll through the Ticker on today’s updates.

Home prices in other markets are also rising, according to a secondary article in thehousingwire.com. The WSJ has a story about this same upsurge in yesterday’s WSJ as well.

“This is the first time all three headline composites studied by S&P have reported positive annual growth simultaneously since the summer of 2010,” the housingwire.com article states.

The S&P Dow Jones studied 20 cities to come up with these stats. The city of Boston had a flat change in their rates, which is better than the negative rates that many cities had, including New England’s large neighbor New York City.

So, what did Boston have to say about this growth?

“Yes, Massachusetts home sales are the best since July 2005. But that said, there is a still a big gulf between the overall level of activity we are seeing now and what we saw back during the market’s peak in the mid-2000s. OK, the nearly 5,000 homes that changed hands in Massachusetts in July are nothing to sneeze at,” says a blog on Boston.com yesterday.

Though the article did not end positively, possibly realistically, the best we can do is wait out the surge.

For more from Kerry Quinlan-Potter, visit marthas-vineyard-news.com or contact Kerry Quinlan-Potter directly to discuss Martha’s Vineyard Real Estate and building, 508.292.0314 or email her at Kerryqp@comcast.net.

The Problem in Real Estate (Question: Do we have this problem in Martha’s Vineyard Real Estate?)

Monday, August 27th, 2012

Now this is an interesting story by Lee Schmidt at the Gilroy Dispatch. We all know that the economy has been a large problem to the Real Estate industry, as has been supply and demand in various areas. His point however is completely outside of these typically known real estate issues.

“The biggest problems by far are problems created by agents,” he says in his article dated Aug. 24, 2012.

He continues, “As in most professions, the problems are caused by a handful of unprofessional agents that ruin the reputations of Realtors everywhere.”

The article goes on to describe the types of services such real estate agents offer, the type of mistakes they make and how they mislead the public.

Could this then be the reason that real estate agents are required to do courses each year to stay abreast of the latest in the industry? Could other industries benefit by continuing education? And probably the best question to ask is, how would Martha’s Vineyard Real Estate Agents hold up to an analysis by the National Association of Realtors.

There is always room for improvement.

For more from Kerry Quinlan-Potter, visit marthas-vineyard-news.com or contact Kerry Quinlan-Potter directly to discuss Martha’s Vineyard Real Estate and building, 508.292.0314 or email her at Kerryqp@comcast.net.

The Week Ahead Mon., Aug. 27 through Sun., Sept. 2, 2012

Monday, August 27th, 2012

At the end of the week ahead we welcome September, which for some brings a return home and for just about all of us, a return to our usual routines.

Already the morning air is a little cooler, and the clouds at sunset take on a more somber, end of summer cast.

But for all those who’ve held out until the last moment to take their summer vacations (and those lucky enough to have enjoyed the Island all season long), events for  last week of August offer no less variety and fun.

All New
is the apt title of the Monday Night Special being presented this week on August 27th by the Vineyad Playhouse. This intimate evening of new musical theater songs by award-winning composer Marisa Michelson and performed by Ms. Michelson and friends is the latest in series of new works that opened this season.  Following the performance there is a post-show Q&A with the writers, directors, performers and audience members and a brief, informal reception.

At Island art galleries, including The Old Sculpin Gallery in Edgartown,  Louisa Gould Gallery in Vineyard Haven and The Dragonfly Gallery in Oak Bluffs,  openings and exhibits continue apace.  Up in West Tisbury, the Vineyard Artisan Fair celebrates its 17th Annual  Labor Day Festival August 31 – Sept 2 with offerings of  unique furniture, clothing, ceramics, jewelry and fine art from the Islands top artists. You can even watch a weaver making a beautiful scarf from wool harvested from her own flock.

Also over the holiday weekend, the annual Jazz & Blues Summerfest features Jay Hoggard, Mimi Jones & Luis Perdomo, Andrea & James Rohlehr and SAGE, the all ladies jazz ensemble. A portion of the event’s proceeds will benefit MV Breast Cancer Network.  The All Island Tennis Championships holds its a charity event for the benefit of  Hospice of Martha’s Vineyard is scheduled this year  for August 31 – Sept 2.

Finally, just for fun and in anticipation of a new season, stop by at the Martha’s Vineyard Wind Festival on Saturday September 1st in Ocean Park. Make or buy kites on site; competitions with age groups and a variety of categories will start after 2pm.

So go fly a kite (meant in the best possible way) and enjoy the Week Ahead…

High-risk Real-Estate Funds good for who? The Rich.

Friday, August 24th, 2012

“While pensions and other large investors can require a lengthy review period before their boards approve any new investment, wealthy individuals are appealing in part because they can act quickly. “They are very fast, flexible and intuitive,” Mr. Sternlicht said, chairman and chief executive of Starwood Capital.

Starwood’s fund is aiming at distressed properties and debt, and new construction, which includes a condo and hotel project near the Brooklyn Bridge in New York City. Carlyle and Blackstone group have also raised a large amount from independent investors.

“Most individual investors didn’t participate in the commercial-property bubble, so they haven’t been as shell-shocked as pension funds have after it burst, noted Vincent Costantini, chief executive of Boston-based property investment and advisory firm Roseview.”

This article by the WSJ is an excellent resource if you are looking to invest in large commercial real estate ventures.

For more from Kerry Quinlan-Potter, visit marthas-vineyard-news.com

Corcoran’s advances in technology in New England Real Estate

Thursday, August 23rd, 2012

“Real estate development and management firm John M. Corcoran is using new Web-based expense tracking software to help reduce water and energy costs at many of the 12,000 housing units that it manages in New England.” says the CIO Journal.

They are using the cloud-based tool WegoWise to assess the efficiency of their buildings and make changes to cut costs in the long run.

Wegowise has a vimeo video on their tour page that explains how this tool is excellent for individuals who hold multiple properties in their portfolio and want to see where there is utility waste.

Congrats to Corcoran for their green forward-thinking. This tool could well be useful for Martha’s Vineyard Real Estate companies who manage more than one property.

For more from Kerry Quinlan-Potter, visit marthas-vineyard-news.com

The Week Ahead Mon., Aug. 20 through Sun., Aug. 26, 2012

Monday, August 20th, 2012

Oh.  my.  gosh.  Writing the Week Ahead this week will be like talking food after Thanksgiving dinner!
We all feel steeped in events up to our eyeballs!  But the beat  goes on and not everyone is lucky enough to be on Martha’s Vineyard in mid-August (though honestly I could almost swear that everyone actually was on Island this past week ). So splash a little cold water on your face and get ready to dive back in as August rocks on.

Start the week off with music:  On  Monday  August 20th Jemima James performs live on the outdoor stage at  Featherstone Center for the Arts from 6 - 7:30 pm when.  Bring the whole family, a picnic dinner, lawn chairs, maybe even a Frisbee to throw around. If you crave something classical, head over to the Old Whaling Church in Edgartown for a performance of  From Russia with Strings,  a presentation of the Summer Concert Series from the MV Chamber Music  at 8 pm.

Learn to take advantage of all the gorgeous produce that is rolling in off the fields  and stock up for the  winter months ahead at the Kitchen Porch Canning Club workshop series. These hands-on classes will teach the safest practices in preserving while introducing you to new exciting flavors and local. Each workshop with end with a light lunch that highlights some of the preserves made that day. Individual Class $90/Four Classes $300 (save $60!) 2-6 pm.

Right about mid-week you’ll be ready for a laugh and voila! The Martha’s Vineyard Comedy Fest is ready for ya! Thurs, Fri & Sat, August 23-25 the stage is set for the second annual Martha’s Vineyard Comedy Fest with an all-star cast of comedians each night at the Lampost in Oak Bluff.  Shows start at 8 pm.

On Sunday August 26th it’s back to Featherstone this time for the 3rd Annual Potters Bowl. Buy an exquisite hand thrown bowl then get it filled with some delicious free soup. Visitors will be asked to purchase bowls made by Vineyard ceramic artists for $30, for one person, or $50, for two people. Bread will be provided by Rickard’s Bakery. Beverages and dessert will round out the meal.

Until next week when we ease into September and the Labor Day holiday, enjoy the Week Ahead!

July on Instagram

Thursday, August 16th, 2012

Mussels & steamers with friends.

Back alley by the OB harbor.

Going off Island!

I love these weird plants.

Goldbud season!!

At the Book Barn in Oak Bluffs.

Breakfast at Artcliff- The Old Faithful

Birthday flowers :)

First present of the day from my boyfriend.

Stuck in traffic.

Ocean Park, post rain storm

Sushi at the Net Result, yum!

Bloody Marys at Park Corner brunch are a meal in themselves.

At Aequinox, my favorite store in Oak Bluffs.

If you want to follow me on Instagram, I’m vyyouvyanybody.

The Week Ahead Mon., Aug. 13 through Sun., Aug. 19, 2012

Monday, August 13th, 2012

After this week we’ll all need a vacation from our vacation! No sooner have we caught our breath after JAWSFEST when, after a scant two days, we’re back in high gear with Illumination Night on Wednesday, August 15th, The annual Agricultural Fair (Thursday August 16 through 19) and on Friday August 17, Oak Bluffs’ always spectacular Fireworks…and, as always there’s more!

Creating a lot of buzz lately is the coming of The Moth to Martha’s Vineyard…no not those nasty critters that chomp on anything green or inconveniently add a few armholes to your favorite sweater… Coming to the Union Chapel by way of NYC on Monday, August 13th, this is how the organization describes itself on its website:

“[The Moth] a…not-for-profit organization dedicated to the art and craft of storytelling. It is a celebration of both the raconteur, who breathes fire into true tales of ordinary life, and the storytelling novice, who has lived through something extraordinary and yearns to share it…Since its launch in 1997, The Moth has presented thousands of stories, told live and without notes, to standing-room-only crowds worldwide.” Interested?  Click here for details.

The following day, Tuesday August 14, Hospice of Martha’s Vineyard holds its Summer Soiree fundraiser at Farm Neck Golf Course. An island raw bar, cocktails, gourmet dinner, silent auction and lively live auction will be your reward for supporting this remarkable organization.

Built on Stilts is back in Oak Bluffs on Saturday August 18th This year the egalitarian dance festival  features the work of over 40 choreographers from the Vineyard and beyond including ballet, hip hop, modern, lyrical, ballet, jazz, belly dance, african, live music, vaudeville and more…not to be missed!

Later that same evening Lenny Clarke & Friends in concert at Flatbread Company in what will be Lenny Clarke’s only island appearance this summer! Featuring Artie Januario and Dirty Water TV’s Dave Russo. This show will be filmed for Dirty Water TV and aired on NESN.

Looking for details or more to do?… Check out MVOL.com’s Calendar of Events

Whatever your plans include, enjoy the week ahead…

Martha’s Vineyard Real Estate hitting $92 Million

Tuesday, August 7th, 2012

Everyone is posting about it: Forbes, The MV Times, The MV Gazette, and MVOL.

This large amount of money is beyond even many New York City penthouses and other properties. Forbes calls it, “…the new most expensive listing north of New York City and the highest price ever asked on Martha’s Vineyard.”

Sotheby’s is the listing agent. The seller is Gerald DeBlois of West Tisbury.

This property for sure, will be a “must-watch” in the coming months, and of course if you want to see it, contact me for more information.

For more from Kerry Quinlan-Potter, visit marthas-vineyard-news.com

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