With its long family history, this distinctive blue-shuttered house on a quiet corner in Edgartown presented new owners with a restoration quandary.
Shelley Christiansen
Short sales, foreclosures, REOs. For tough economic times, the real estate industry nationwide has developed a jargon all its own. And while there hasn’t been a lot of press about distressed properties on the Island, they do exist and may provide opportunities for patient, discerning buyers. Here’s a closer look at the ins and outs of “unconventional” houses for sale.
A distressed property is real estate that is under foreclosure or impending foreclosure because of insufficient loan payments by the owner/debtor. All forms of distressed properties exist on the Island.
Karla Araujo
“I’m a nester,” part-time Island resident Catherine Urban admits as she walks through the cozy three-bedroom West Chop cape that she and her family rented for the first time last summer.
Karla Araujo
It might sound elementary, but a good look at a map is the best first step toward mastering the Island’s quirky geography.
Karla Araujo
The off-season on Martha’s Vineyard is often peppered with news of real estate transactions and speculation.
Karla Araujo
The word on the street regarding the Island’s current real estate sales market is “cautiously optimistic.” While we may not soon see a return to the boom times of five-plus years ago, Vineyard real estate professionals report that the market is definitely trending up.
“The market is healthy compared to 2009,” says Meg Bodnar, a sales associate at Tea Lane Associates of West Tisbury and Chilmark. In fact, she says, three of her last five sales transactions resulted in bidding wars.
Karla Araujo
The Oscar-winning actor was one of the first celebrity residents on the Vineyard, and today his former Chilmark homestead retains its charming rural character.
Karla Araujo
The word on the street regarding the Island’s current real estate sales market is “cautiously optimistic.”
Karla Araujo
