About Dukes County, MA

It was a peaceful morning on the Vineyard as I walked by this small fishing shack. It was a short trip to check on a house. There were a few ducks and birds still swimming around that had not gone south yet. The leaves on the Vineyard trees were still changing. They are probably peaking right now. I'll be back on the Vineyard for a class in the afternoon. It wil probably more busy.

My wife was a counselor at Camp Jabberwocky many years ago, still has very good memories, and is fond of their efforts. If you don't know, Camp Jabberwocky is the longest running overnight camp for children and adults with disabilities in the United States.

Well, this weekend, in on of their ongoing efforts to raise funds, they are hosting a 5K run at 10 AM at the Farm Institute in Katama (Edgartown). There is a $25 runners fee for the 5K run (10 AM) and for the 1/2 mile fun run which follows it at 11 AM there is a $12 runner fee. There will be entertainment by the world famous Vineyard Sound at 11:30, too.

All proceeds will help Camp Jabberwocky keep providing fun summers for many kids and adults with disabilities.

If you are there for the Clinton/Obama festivities while Chelsea gets married and The Prez takes a vaca, check out the 14 Aero Ave in the Katama part of Edgartown. And if you run, the word is that the Celtics are matching the fees!

details on the camp jabberwocky web site.

JUNE MARKET STATISTICS ~ MARTHA'S VINEYARD, MASSACHUSETTS

Following is our real estate Market Report for the month of June.

The number of units sold during the month increased slightly (+2) over the previous month but decreased significantly (-9) from June 2008. The median sale price followed the same trend, increasing slightly (+$7,000) over May 2009 but decreasing substantially (-$126,000) over the same month last year.

High-end sales (over $3.0M) account for just 6% of the units sold thus far this year with the majority closing last January. There was 1 sale over $3.0M in June and the property was located in Edgartown Village. Further, all sales over $1.0M during the month of June were properties located in Edgartown - no other island town had a sale over $999K.

With the numbers for June now in, we're able to compare the first half of the current year to the first half of 2008. These numbers are validating what we have maintained since the beginning of the year - we are following the national trend. Both units sold and dollar volume is down, 20% and 22% respectively, compared to the first six months of 2008.

On a positive note, there has been some good buyer activity since the summer season began. The question yet to be answered is whether any of this activity will generate sales.

Please visit the Monthly Market Statistics page on our website for charts and graphs illustrating the current state of the real estate market on Martha's Vineyard.

I was on the Vineyard for the 4th of July. This year we made it early enough to the family picnic that we got to see the "parade" in the Oak Bluffs Campgrounds. For over a decade, the summer residents have dressed up and paraded down Clinton Ave to the Tabernacle (where we got married in '85).

The pictures below are a sampling of the spirit and fun of the day. After the parade, we enjoyed a great cook out hosted by my wife's aunt and uncle. After the cook out, the kids and some "psuedo adults" went to state beach to jump off the "Jaws" bridge - another tradition.

It was a beautiful day. We had good food, good conversation, laughs, good company, and sun. We later returned to Falmouth for the fireworks there. A long day of gratitude and fun. Thanx to all the soldiers who keep us safe.

I hope you had a great Fourth, too.

What would be the summer rental for this property?" The question most asked by our buyer clients. This week’s portfolio includes properties we feel are outstanding rental opportunities. Investment might be a bit of an exaggeration since you would find a positive return mostly from inland properties suitable for year-round rentals. But, $25,000 rental income and up certainly goes a long way to paying the bills. These properties are in good to excellent condition, they are in areas that have always had high rental tenancy, and they are at reasonable prices considering their proximity to "summer fun". The better rental areas command higher rental fees and fill up well before other areas of Martha's Vineyard. After location and condition of property come furnishings, high on the list of what goes into creating a successful rental experience. A few ideas I picked up following BLOGs and articles at HomeAway.com include: decorate your home in bright, cheery colors; create a comprehensive list of available activities; and, highlight your outdoor living space. What an opportunity. You own a home in a desirable vacation destination, you have the fun of decorating, the joy of happy tenants and the bonus of actually vacationing!.
And of importance primarily for first time homebuyers is this welcome news: Housing Affordability Surges to Highest Level in 18 Years .
Remember, this is only a buyer's market if you actually buy!