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Exclusive Representation FOR BUYERS ONLY with over two decades of Martha's Vineyard Real Estate knowledge and experience.


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SplitRock Real Estate, LLC
9 Windy Way
West Tisbury MA 02575
SPLITROCK REAL ESTATE, LLC
PO BOX 1690
WEST TISBURY MA 02575
508-696-9009
©2004-2012 SplitRock Real Estate, LLC
All rights reserved.
Martha's Vineyard Real Estate Exclusive Buyer's Agent

Martha's Vineyard Real Estate
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Martha's Vineyard Luxury Real Estate


BULLETIN BOARD



New Home Heating Oil Law Now In Effect.


As of September 30, 2011, owners of 1-4-unit residences on Martha's Vineyard that are heated with oil will now have to install either an oil safety valve or an oil supply line with a protective sleeve on their heating equipment. Installation of these devices is mandatory and must be performed by a licensed oil burner technician. Technicians are employed by companies that deliver home heating oil, or they are self-employed. It is important to note that heating oil systems installed on or after January 1, 1990 are most likely already in compliance because state fire codes implemented these requirements on new installations at that time.

For those who need to install this equipment, state officials estimate that the typical cost of installing either an oil safety valve or an oil supply line with a protective sleeve ranges from $150 to $350 (including labor, parts, and local permit fees). While it is an expense that is not insignificant, the cost to clean up an oil leak on Martha's Vineyard can run in the tens of thousands of dollars.

It is important for home owners to remember that this rule applies to all home owners, regardless of whether they are selling their home or not. In the case of a home sale on Martha's Vineyard, an oil leak can delay a sale for months. The Massachusetts Department of Environmental Protection (DEP) has an excellent, easy-to-understand document that explains this new rule. The document can be found on MAR’s website in the Bay State REALTOR® section under Law and Ethics, or from DEP direct at www.mass.gov/dep/cleanup/laws/hhsl.htm

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WSJ rates Dukes County at #7 in a list of 10 American Ghost Towns of the 21st Century

BARRON'S ranks Martha's Vineyard at #5 in a list of 15 Best Places For Second Homes

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Fed Says No to Yield-Spread Premiums


Compensation to mortgage brokers can no longer be based on the loan’s interest rate or other terms, except on the amount of credit extended, according to a Federal Reserve rule that took effect April 1. The rule seeks to curb risky loans by prohibiting yield-spread premiums, which critics say gave originators an incentive to steer borrowers into higher-cost mortgages during the housing boom. It also prohibits originators from charging borrowers a fee if they’re already being compensated by the lender who is providing the money. The National Association of Mortgage Brokers and the National Association of Independent Housing Professionals are reportedly looking into filing lawsuits to prevent the rule’s implementation. More: www.federalreserve.gov (Aug. 16, 2010, release)
(Source: Realtor.org Five To Watch by Robert Freedman)
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The NEW Massachusetts Homestead Act went into law on March 16, 2011; it completely rewrites Chapter 188, § 1-10 providing home owners more modern protection.


Here are some of the important changes to the new Homestead Declaration Law:
• Existing homesteads remain valid.
• There is an automatic $125,000 homestead; no recordation of a homestead declaration is needed for this protection.
• Homeowners receive a $500,000 homestead protection by recording a homestead declaration; all owners must sign to gain the protection. There is a one-time $35.00 recording fee.
• All owners must occupy or intend to occupy the home as principal residence.
• Owners who are elderly or disabled should file a homestead under section 2 of the new law to gain maximum protection.
• Under new law, both spouses can record a homestead.
• Property held in trust can be homesteaded.
• Every homeowner who has refinanced his/her mortgage in the last several years should record a new homestead declaration since many refinancing mortgages contained a waiver of homestead rights.
• If a married couple has divorced or separated, each should re-examine whether a new homestead declaration is needed.
• As under prior law, homestead declarations are subject to mortgages executed by all owners.

There are other changes in the new law and to learn more please go to my page on the Homestead Exemption.

FHA Extends 'ANTI-FLIPPING WAIVER'

To Help Stabilize Housing Market

The In an effort to continue stabilizing home values and improve conditions in communities experiencing high foreclosure activity, Federal Housing Administration (FHA) Commissioner David H. Stevens today extended FHA's temporary waiver of the agency's 'Anti-Flipping Rule.'


Martha's Vineyard Home Buyer Videos

The U.S. Department of Housing and Urban Development (HUD) partnered with the National Association of Realtors® (NAR) to produce three consumer information videos about the home buying process: Shopping for Your Home; Shopping for Your Loan; and Closing the Deal.


A Former Client tells me why he believes the decision to hire an Exclusive Buyer Agent on Martha’s Vineyard is a ‘No Brainer’.

Dear Peter,

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 More)

Welcome to SplitRock Real Estate, LLC
Exclusively Representing Buyers Only
for Martha's Vineyard Real Estate


Peter Fyler Martha's Vineyard Real Estate Buyer Broker
Peter C. Fyler
Owner/Broker
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 be SMART!

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.


Knowledge is Power - I Create Power Buyers

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 information service.

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 subscriber.”

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 information.

Respectfully,
Peter Fyler Martha's Vineyard Real Estate
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 the Buyer."

Oklahoma Supreme Court ruling - June 1, 1999

Martha's Vineyard real Estate Buyer AgentA 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 agent."

"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 ads?
  • 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 of interest.

Click for West Tisbury, Massachusetts Forecast


www.SPLITROCKRE.com

SPLITROCK REAL ESTATE, LLC - Exclusively Representing Buyers Only for the purchase of Luxury, Vacation Resort and Second Home Real Estate for sale on Martha's Vineyard Island, Massachusetts, United States of America

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FOR BUYERS ONLY
Is your Agent your friend?  |  Why use an Exclusive Buyers Agent?  |  Videos For Buyers Only  |  Who Pays an Exclusive Buyer's Agent?
Buyer-Client? Buyer-Customer?  |  What are Fiduciary Duties to a Principal Client?  |  Why you need a Home Inspection  |  Environmental Issues

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The Financing Process  |  Understanding Your FICO Credit Score  |  Locking in the Loan Rate  |  Understanding Yield Spread Premiums  |  Property Tax Considerations

The Closing Process
Preparing for the Closing  |  Homestead Exemption  |  Owner's Title Insurance  |  The HUD-1 Form  |  The Real Estate Closing

Real Estate FAQ
What is the Land Bank?  |  Why have a Land Bank?  |  What is the Fair Housing Act?  |  What is a Land Survey?  |  What is Title-5?  |  What is the MIL Rate?
What is a Tax-Deferred 1031 Exchange?  |  What is a Buyer's Agent?  | What is an Exclusive Buyer's Agent?  |  What is an ABR®?  |  Why use a CRS®?
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