Vineyard Luxury Real Estate
Martha's Vineyard Quarterly Sales Summary Report
Click here to preview > MV
Third Quarter 2013 Sales Summary
A FINANCIAL TSUNAMI FOR HOME
AND FOR THOSE WISHING TO BECOME HOME OWNERS
In 1968, Congress created the National Flood Insurance Program
to help protect property owners from the ravages of flood damage with a federally subsidized flood insurance program.
But a number of recent catastrophic weather events, Hurricane Katrina and, just recently, Sandy,
caused the federally subsidized program to spiral down into a $17 billion to $20 billion deficit.
Flood maps in most areas have not been revised in over 30 years so you can imagine that there will be a significant
flood risk increase in many areas. Any property owner with a federally insured mortgage will be required
by their mortgage holder to purchase 'special' flood insurance, if the newly drawn flood maps place them
within the special flood hazard zone. A special flood hazard zone is an area considered to have a 1 percent
chance of flooding in any given year.
Flood insurance rates are set by the Federal Government so no matter who you purchase your insurance from the rate will be fixed.
I have been reporting on this for some time in my newsletters but I now feel it is paramount
to get the word out to those Buyers who are contemplating the purchase of a water front property or a property lying within a flood plain.
Here are two links that will help you begin to understand what is occurring.
Click here to view National
Association of REALTORS® FEMA Presentation
Click here to view FEMA
Dukes County Flood Maps
A Former Client tells me
why he believes the decision to hire an Exclusive Buyer Agent on Martha’s
Vineyard is a ‘No Brainer’.
As an Island homeowner, I find that friends often ask about our home buying
experience with the hope that we will provide guidance to facilitate their search.
My first and only recommendation: Hire an Exclusive Buyer Agent. They will represent
you throughout the process from start to finish. Although I am not a real estate
professional, I feel the lessons learned and the experience gained during my
own home purchase with you by my side provided me the unique perspective to
offer advice to others seeking the Martha's Vineyard lifestyle experience.
While I sense more people today contract for the services of Exclusive Buyer
Agents than in the past, many home buyers still just don't think about it or
don't believe they can actually have someone passionately represent their best
interests at all times. This was certainly my friend's mindset. In part, I think
it is because people believe it will be more costly. They think there has got
to be a catch. I thought you might be interested in how I describe the benefits
of your type of service to my friends. (Read
Peter C. Fyler
REALTOR®, CRS®, GRI®
Do you want to learn about the purchase process step-by-step up to that all important day when you receive the Deed to your dream property?
Do you want to learn about all the various financing and tax issues?
Do you know the difference between a Buyer Agent Exclusively
Representing Buyers and a Buyer Agent working in
a traditional real estate office who can work as a Dual Agent?
Do you know what services a Buyer Agent Exclusively Representing
Buyers can guarantee you that a non-Exclusive Buyer Agent cannot promise?
Do you want to know how a Buyer Agent Exclusively Representing
Buyers gets paid?
The answers are all here at SplitRockRE.com.
So, please take your time and read through the user friendly
information I have put together FOR BUYERS ONLY. Start your
real estate education today. You don't have to be rich
to be represented by SplitRock Real Estate, you just have to
You will want to bookmark this page in your Favorites folder
so you can come back often to review Peter's Picks
to preview what I believe are potentially above average luxury
home and land opportunities in Edgartown, Oak Bluffs, Vineyard
Haven, West Tisbury, Chilmark and Aquinnah, or to research the
most recent Sold Property Transfers and Sales Trends.
Just for fun, you can keep your eye on the Island by viewing
the local webcams on my Island Webcams & Local Weather page.
Just looking. Subscribe now to my FREE Buyers Basic e-Newsletter.
Once a week, you will receive an up to the minute market analysis
report of all newly listed properties in all towns on Martha’s
Vineyard as well as price reductions, properties sold and properties
that are under agreement. My subscribers include home buyers,
home sellers, bankers, mortgage lenders, appraisers, attorneys
and even real estate licensees. People who want to keep current
on the market follow me.
Contact me to find out how you can receive my VIP Alert
Auto-Responder service providing immediate information on newly listed
homes, land, condos and commercial properties. The VIP Alert service is
tailored to your specific unique search criteria.
If your interest has gone beyond a casual curiosity and you
are ready to get serious about educating yourself in
order to make the right investment decision in Martha's
Vineyard real estate, then you want representation. I guarantee
to provide you with the inside in-depth education you must have
in order to make that all important life changing decision.
Contact me to become an exclusive buyer client and receive my
client level Inner Circle e-Newsletter
This is not one of those canned monthly template newsletters that is
99% generic fluff and 1% Martha's Vineyard area specific. This is 100%
timely information presented from my keen perspective as a full time
real estate professional and published every week. The Inner Circle
e-Newsletter is only available to Buyers who have a passionate dream
and a sincere desire to make that dream come true. When you sign on
with me you will experience true Exclusive Buyer client level service.
SplitRock Real Estate represents the Buyer 100% exclusively providing
100% SERVICE, 100% of the time. My task is to find the best property,
with the best terms and advantage that best suits your needs no matter
how long it takes. I want you to be informed and comfortable with any
buying decision you make. My clients are pleased with what I do for
them and eager to recommend my service to their friends. Here is what
one of my clients wrote about the Inner Circle e-Newsletter:
"Your Inner Circle e-Newsletter is extremely interesting.
Really wonderful. I especially like that you permit a lot of your
personal opinions to seep through, you humorously point out the
foibles of overpricing and price reductions, and yet you
simultaneously identify good opportunities in all price levels. It
seems to me almost anyone, from a young family with modest assets, to
a buyer looking for a very substantial property, would find your
e-Newsletter very helpful."
M. G., Greenwich, CT
“As a client, your Inner Circle e-Newsletter property
commentaries have become a key part of my weekly research. If you
ever move to a fee-based newsletter format, count me in as a paid
Mike S., East Orange, NJ
Do you have any questions about Martha's Vineyard real estate -- or
real estate in general? E-mail me, or call me. You will quickly learn
that I know Martha's Vineyard, and I know this real estate market. I am
a studied and seasoned real estate professional with more than two
decades of full-time experience in the Martha's Vineyard luxury real
estate market. All communications are held in the strictest confidence,
so do not worry; I will never rent, sell or share your personal
Peter C. Fyler
SplitRock Real Estate, LLC
Martha's Vineyard Real Estate Exclusive Buyer Agent
"Sellers' Agents and Dual Agents do not and cannot by law give a
Buyer the same degree of loyalty as an Agent who acts on behalf of
Oklahoma Supreme Court ruling - June 1, 1999
A recent Boston Globe article reported, "While
buyers are under less pressure to make quick decisions, there are many
more homes to choose from and thus more homework involved," said David
Wluka, president of the Massachusetts Association of Realtors.
The Globe went on editorializing, "So buyers: Be patient, but be
ready to strike. Get preapproved for a mortgage and have other
financial paperwork ready. Take advantage of a seller's calendar; if,
for example they're itching to move, or want to wait until the school
year ends. Get to really know an area, what's available there, and how
home prices have moved recently. And, get help -- a buyer's
agent, that is...because they can often find out what a
seller's situation is for you. It's a good deal for the buyer, too; in
most cases, listing brokers split their commissions with a buyer's
"Having an exclusive buyer's agent gives you more of an advantage
during the negotiation process because the seller is never aware of the
price you are willing to spend -- unlike listing agents, who are only
trying to negotiate the highest possible price for the seller," said
Barry Nystedt, president of MassBuyerAgents.org.
Let me ask you a question. How do you begin your search for that
perfect property you’re dreaming of?
- Do you thumb through the newspaper and look at the nice display
- Do you scour all the tiny classified ads in the real estate
section of the newspaper?
- Do you surf the Net going from one broker’s website to
another looking to see what properties they’re marketing?
Of course you do.
But did you know, when you call on any of those ads, the listing
broker and all of the agents in that office represent the SELLER, not
you. Sure, they can offer you Disclosed Dual Agency, but they
cannot offer you 100% buyer advocacy (Definition of Advocacy:
active support; especially the act of pleading or arguing for
something), and in my opinion dual agency introduces the obvious
possibility for conflict of interest.
SplitRock Real Estate, an Exclusive Buyer Agency, does not
list property for sale and works Exclusively with Buyers
in order to completely remove the potential for any conflict