Martha’s Vineyard Real Estate – Fall 2014

by Kerry on October 14, 2014

We hope everyone had a great summer! This fall is a time of re-group and re-fresh for most of us on the Island. Breakwater — Martha’s Vineyard Real Estate is my new Real Estate Brokerage Firm. It is over a year old now! Feel free to check us out as we grow this fall.

Have a gorgeous Fall 2014!

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Martha’s Vineyard Weather & Sandy

by Kerry on October 29, 2012

We hope everyone on Martha’s Vineyard stays safe and smart during the storm Sandy.

The State of Massachusetts has called this a “State of Emergency” and has listed some things on their site that we can do to keep updated and safe : http://www.mass.gov/alert/alertlanding.html.  They have also mentioned an app that can help with information : http://www.mass.gov/eopss/agencies/mema/ping4/get-emergency-information-on-your-smartphone.html

The Red Cross also has an app called the First Aid App : http://www.redcross.org//mobile-apps/first-aid-app

The MV Times has updates here : http://www.mvtimes.com/2012/10/29/sandy-ae-storm-alerts-continuously-updated-13119/

And the Weather Channel is excellent : http://www.weather.com/weather/videos/news-41/top-stories-169/my-powers-out-now-what-31913

Be safe!

— Kerry Quinlan-Potter

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“Election Year Theory” — Interest Rates

by Kerry on October 22, 2012

We found an article from Sovereign Bank about the “Election Year Theory”. There are tons of “Election Year Theories” in various areas: mortgage, stocks, abortion, etc. The article we found from Sovereign Bank regarding Interest Rates posted the chart below.

So, is the Federal Reserve Board “under political pressure to keep interest rates stable or lower prior to an election in order to make it more attractive for voters to vote for the incumbent?” If the theory is true then mortgage rates would drop immediately after a presidential election. Is it true? According to the article, “History says no.”

3 Months Before Election Election Month 3 Months After Election 6 Months After Election
1972 – RICHARD NIXON (Republican) 7.40% 7.43% 7.44% 7.65%
1976 – JIMMY CARTER (Democrat) 9.00% 8.81% 8.67% 8.82%
1980 – RONALD REAGAN (Republican) 12.56% 14.21% 15.31% 16.40%
1984 – RONALD REAGAN (Republican) 14.47% 13.64% 12.92% 12.91%
1988 – GEORGE H.W. BUSH (Republican) 10.60% 10.27% 10.56% 10.77%
1992 – BILL CLINTON (Democrat) 7.98% 8.31% 7.68% 7.47%
1996 – BILL CLINTON (Democrat) 8.00% 7.62% 7.65% 7.94%
2000 – GEORGE W. BUSH (Republican) 8.03% 7.75% 7.05% 7.15%
2004 – GEORGE W. BUSH (Republican) 5.87% 5.73% 5.63% 5.72%
2008 – BARACK OBAMA (Democrat) 6.48% 6.09% 5.13% 4.86%

 

Obviously due to the economy, the numbers have been low for a good stretch of time. We shall see what this election year brings.

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Real Estate Terminology

by Kerry on October 8, 2012

Like every trade, Real Estate has it’s own lingo. While reading an article recently on the Real Estate Forecast for 2013 by a Forbes contributor, I noted after a couple paragraphs that some of the terminology may be outside the box for non-real estate readers.

So, here are a few definitions of words noted in the beginning of this article.

Short sales: This is when a real estate sale’s proceeds fall short of the balance of debts held against the property. The owner has to accept less than the amount owed in debt.

Shadow inventory:  This can be real estate that is in foreclosure and not yet sold or homes that the owner will put on the market when the prices improve.

Upside-down mortgages: When the value of an asset used to secure a loan is less than the outstanding balance on the loan and the security is real estate with a mortgage, you end up with negative equity and the assets are “underwater”, then the loan/borrower with this mortgage would have an “upside down mortgage”.

If you are interested in talking real estate, feel free to contact me.

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28 Church Street (Vineyard Haven) – $570,000

by Kerry on September 26, 2012

SOLD This week on Martha’s Vineyard. To discuss Real Estate on The Island contact Kerry Quinlan-Potter at Kerryqp@comcast.net

Sold This Week on MV : Church Street, VH

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