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Emma Kennedy

A Menemsha Sunset

06-12-08
Emma Kennedy
There is nothing quiet like a Menemsha Sunset. Families and couples picincing on the beach, kids playing in the water. Fisherman on the jetty as a blazing sun dips behind the Ocean. Here are some photos I took last night. Enjoy this taste of paradise.

Charming Main and Guest Cottage

05-20-08
Emma Kennedy
I just previewed this new West Chop listing. This is a really great piece of property. The property enjoys a park like setting with mature plantings, the main and guest cottage are adorable. If you wanted to build a much bigger house on that lot in the future that would be possible. It is steps from the Vineyard Haven harbor located at the end of Grove Avenue and priced $100K under assessed value. This is one that will sell quickly. For more infomration email: emma@mvbuyeragents.com

New In-Town Edgartown Listing

05-16-08
Emma Kennedy
I previewed this house in downtown Edgartown yesterday. It is situated just a short distance from Main Street and a short walk to the Edgartown Harbor. It is a Federal Style home situated on a beautifully landscaped lot. The house has been in the same family for forty years, it has been well maintained but it needs to be updated. Please do not hesitate to contact me if you have any quesitons, emma@mvbuyeragents.com.

Short Sales on Martha's Vineyard

04-24-08
Emma Kennedy

We are starting to see short sales on the Island, these are homes that have not been foreclsoed on yet but are on their way there. Any offers on properties like this require bank approval. The advantage to the bank is that it saves them time and the high cost of foreclosure. Our expericne so far has been that this can be a really quick process or drag on for months, there is no standard process. There are also some risks involved in a short sale, they are not for the faint of heart. All the risk is on the buyer and the property is purchased "as is". Most banks will negotiate to some degree, the properties usually (but not always) end up selling for a percetnage less than the mortgage amount owed, this can be as little as a few percent or as much as 20 percent plus. It should be noted that the last two foreclosures in West Tisbury ended up with the first mortgage holder winning the bid, cutting out the second mortgage holder and selling the property at a profit. The Vineyard market cannot be compared to other situations. This is a good article, it explains that short sales take time but can be good for those who can wait it out.

Why Lenders Are Leery

MV Weekly Real Estate Round Up

04-24-08
Emma Kennedy
We have a new format this week, we launched a new MLS (multiple listing service)service on the Island this week. We hope you like the additional photos and details that are now available with each listing. Click on the link in the top left of each property box to view additional information about the property. We have several interesting new listings this week. A lot of action on Chappy, two great listings under $1 million and two waterfont listings on North Neck. A camp style home for $3.29 million and newer contemporary home for $6.85 million. Our waterfont pick of the week is in Aquinnah, a beautifully renovated beach house, steps from the ocean this home enjoys sweeping ocean views over to the Gay Head Lighthouse. For those looking for a income producing property there is a unique opportunity in West Tisbury, a traditional cape style home set on over two acres, the property has been converted into three separate condo units, all three are available for a total of $850K (not available separately at this time). Walk to Alleys General Store and the library from this location. Please do not hesitate to call us if you have any questions about any of these properties.

This Weeks Sold Properties
Oak Bluffs - 17 Vineyard Avenue Status: Sold Selling Price: $540,000 Type: Single Family
Zoning: RES Year Built: 1920 Lot Size (Acres): 0.1600 Frontage: None
Bedrooms: 2 Bathrooms: 2 Sq. Footage: 1220 $/Sq. Foot: $443
Description: Impeccably maintained farmhouse, bright and light with tasteful details and intelligent design. Two bedrooms, two full baths, front porch, sunroom, wood floors, high ceilings, and many original fixtures and features. The back deck and outdoor shower face the deep back lawn, perennial gardens, and detached studio/bunk house. Located on Vineyard Avenue next to the Arts District, this home offers a sweet neighborhood setting with ease in walking into Town and the harbor.
Vineyard Haven - 43 Deer Hill Rd Status: Sold Selling Price: $365,000 Type: Single Family
Zoning: R50 Year Built: 1999 Lot Size (Acres): 1.2800 Frontage: None
Bedrooms: 1 Bathrooms: 1 Sq. Footage: 312 $/Sq. Foot: $1,170
Description: Beautiful 1.28 acre lot with Up Island feel and down Island convenience. Well and 5 bedroom Title 5 septic system in place. There is currently a cute 300 plus sqft 1 bedroom 1 bath bunglow on the property that was built in 1999. House may have views of beautiful landbank field depending on it's placement.