Martha's Vineyard at Her best

 

Instead of a selection of properties, this month's montage is photos of this dramatic Makonikey property. Affording a very private location and access to two north shore association beaches certainly warrants calling this home one of the most outstanding Martha’s Vineyard values. Every room in this house presents a panoramic view of Vineyard Sound. The floor plan of this luxurious home is spacious and easy flowing with 5 bedrooms including 2 masters, 5 and 1/2 baths, 3 fireplaces, 2 gourmet kitchens ( one inside one outside ), a 3 season porch, 3 decks, a patio and garage space for 3 with office space above. An outdoor gourmet kitchen has extensive stonework including a stone paver patio that leads to a kidney shaped pool with deck and hot tub. Everything you could love in a Martha’s Vineyard home. This prestigious property is priced at $2.7 million for house and lot or $3.495 million with the addition of 2 abutting buildable lots.

My sense of the market is that the effects of low mortgage rates is finally striking a nerve as we have seen an up swing in sales, and in some cases prices, as the summer draws to a close. With many client appointments already scheduled through September and October, that trend appears to continue at least through the short-term. Most surprising might be the activity in bank owned properties (REO). In a distinct change, they are being priced close to or below market value and selling within days if not hours. If you want to be notified of these opportunities, please let us know.

Karl E. Case is a professor emeritus of economics at Wellesley and co-creator of Standard & Poor's Case-Shiller housing index. In The New York Times of September 2 he reported on recent trends in the housing market and on a recent survey of buyer mood and investment expectations. A Dream House After All is a must read for any real estate buyer. The case-Shiller second quarter report shows mild price increases in a number of US markets.

During my fist summer on Martha’s Vineyard friends suggested that as fabulous as summer is on Martha’s Vineyard, September is dessert. As in every year since, I can feel the joy approaching.