Real Estate
Bank Statement
The Martha’s Vineyard Savings Bank reported it closed $90.6 million in mortgage loans during 2008. As a result, the bank grew its loan portfolio 6.89 per cent for the year. The bank’s total assets grew 2.55 per cent for the year. Core deposits grew to $360.9 million, and capital grew to $53.2 million at year end Dec. 31, 2008.
One month before the first day of spring, the Vineyard summer home rental market is sluggish, with many agents saying that advance bookings this year are down between 10 and 15 per cent — at least so far. The news from the Steamship Authority matches the trend, with advance reservations for automobiles down about 12 per cent from this time last year.
A new bill authored by Cape Cod lawmakers that would extend a 9.75 per cent lodging tax currently in place for hotels to weekly rentals has already stoked opposition both here and across the state, primarily among real estate brokers and people who rent their homes during the summer months for extra income.
Real Estate Classes
Beginning this month January, Dukes Academy, the Vineyard’s only licensed real estate school, will add to its existing continuing education curriculum in response to the current socioeconomic issues confronting the marketplace. New courses include Foreclosures and Commercial Real Estate Basics, Massachusetts Consumer Protection Law, 93A, Commonly Used Real Estate Forms, Massachusetts Real Estate License Law and Brokerage Relationships.
Resting unfinished on 18th street in Edgartown is a two-story, two-bedroom wonder. The wonder is not revealed so much in the sturdy shingled Colonial construction itself — though its new owners will tell you proudly they “just love this house so much” — but in the story of how it came to be here at all.
This home should have met the bulldozer this time last year, by all wisdom.
Margaret Steele and Bill Le Royer are pleased to announce that Jennifer Rouse has joined their team of sales associates. Jen worked in Boston as a human resource administrator for several years before moving back to the Vineyard. The experience she gained in this position will be a tremendous asset as she moves forward into her new career in real esate. Jen Lives in West Tisbury with her husband Jackson, and 10-month-old son Boden. Jen will be a welcome addition to the sales and rental divisions.