Martha's Vineyard Real Estate News

Homes on Martha's Vineyard are selling, on the average, below assessed value.  As Massachusetts is a 100% valuation state, look for the assessments to drop, while the tax rate per thousand will increase.  This will protect the coffers of the towns.  Time to file for an abatement!  If your home wouldn't (or hasn't sold) at a price on or near your assessed valuation, you should be entitled to a real estate tax abatement.  Your town assessor's office can help you with this process.  Call a real estate agent to get a clear estimate of what your home would sell for in this market.

Where are the best buys to be found on the Island?  (geographically, in price segment, etc.) In the lower price ranges Vineyard Haven and Oak Bluffs continue to offer value, particularly to first-time or low-income buyers.  If you are a buyer in the $1.5-$2.5 million dollar range, you have a wide selection of wonderful properties to choose from.  There are foreclosure and bank-owned properties on the Island.  Some offer competitive mortgage financing options, including FNMA and MHFA.  Call for more details.