Martha's Vineyard
Luxury Real Estate
BULLETIN BOARD
Time
is Running Out. Whether you are a first-time buyer who qualifies
for the $8,000 tax credit, or a current homeowner who wants the
$6,500 tax credit, you only have until April 30, 2010 to take
advantage of the Home Buyer Tax Credit.
~ Newly Launched ~
Buyer Information Web site
answers any
questions about
the 2010 Home Buyer
Tax Credit
Martha’s
Vineyard Land Bank “M” Exemption
In an effort to stimulate home sales to first-time home buyers, the
Martha’s Vineyard Land Bank has increased the credit amount of
the “M” Exemption. The “M” Exemption is a
credit given only to eligible first-time home buyers toward the Land
Bank Fee of 2% of the purchase price of real estate on Martha’s
Vineyard.
Prior to September 1, 2004, the “M”
exemption was $100,000 and in order to qualify all parties on the deed
may not have ever owned real property at any time, not just on
Martha’s Vineyard but anywhere. Subsequently, it was increased to
$300,000 and the exemption was available to first-time purchasers of
real estate who will domicile on the property within two years and hold
the property for at least five years from the date of transfer. In the
case of spouses, either spouse can have owned or possessed an interest
in real property prior to the time of purchase, but not both spouses.
As of October 27, 2009, per a recent amendment to the land bank law,
first time purchasers may now claim a $400,000 "M" exemption. All of
the other requirements of the "M" exemption are unchanged.
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 will want to bookmark this page in your Favorites folder so you
can come back often to review Peter's
Picks and see what I believe are outstanding homes and land in
Edgartown, Oak Bluffs, Vineyard Haven, West Tisbury, Chilmark and
Aquinnah, or to research the most recent Property Transfers. You can stay
up to date on current events in our Vineyard News
section, or for fun, keep your eye on the Island by viewing the local
webcams at my Webcams & Weather section.
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 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
 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
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.
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