Real Estate
Real Estate School Honored
Dukes Academy has been selected as one of the top three real estate schools in the commonwealth by Banker and Tradesmen, a leading real estate and banking journal. More than 40,000 votes were cast in the balloting.
Blue Heron Farm, the Chilmark estate that President Obama and his family have rented for the past three summers for their August vacation, has been placed on the market for sale, Wallace and Co. Sotheby’s International Realty announced on Thursday.
The Martha’s Vineyard Museum is close to selling the West Tisbury land once envisioned as its future home to the neighbors, the Polly Hill Arboretu
The spirit of community, fellowship and Vineyard charms permeate the walls of the five houses being presented by the Cottagers for the 28th annual Cottager House Tour on July 21. The houses represent a diverse group in style and age. Some remain similar to the original houses built around the middle of the 19th century, others are the newly built or refurbished homes of today with current amenities. The owners love their houses passionately and are engaged in the community around them. The names on some houses reflect the owners’ love of the Vineyard.
After a strong start, the Vineyard real estate market appears to have weakened dramatically in the latter part of the fiscal year just ended, according to data for the Martha’s Vineyard Land Bank.
Land bank revenues, generated from a two per cent fee imposed on most real estate transactions and therefore a good indicator of the overall health of the property market, were a little over $7.7 million in fiscal year 2011, a modest increase on last year’s $7.4 million and well up on the $5.76 million of 2009.
Foreclosure proceedings have begun on the Bradley Square property in Oak Bluffs, four years after the Island Affordable Housing Fund began an ambitious redevelopment scheme that never got off the ground.
The nonprofit housing fund — recently renamed the Martha’s Vineyard Housing Fund — owes the Martha’s Vineyard Savings Bank almost $750,000 in principal, interest and late fees on a mortgage that has seen no payments made on it since at least last year.