Fred Roven of Martha's Vineyard Buyer Agents was interviewed for Econoplay this week regarding the Real Estate Market on Martha's Vineyard.
Topics in the entire newsletter are:
Brokers: Pent-Up Demand Jumps in Mar/Apr After Weather Delays; Inventory Lags
• Inventory Shortages Keeping Lid on Sales, But Push Prices Higher in Tight Markets
• As Prices Rise, More Sellers Should Jump In and List; First-?Time Buyers Are Back
• Bad Winter, Not the Economy, Behind Slow Start to 2014; Mini-?bubbles Abound
Still a Good Buy
Fred Roven, owner of Martha’s Vineyard Buyer Agents in Massachusetts, thinks weather did not have a terribly detrimental impact in his market. “There were a lot of people looking for investments this winter and to them it didn’t matter,” he said.
Besides none of the snow and cold on the mainland hit his island community. “I never had to plow my driveway,” he said. “There was a lot of activity. A lot of investors. A lot of people looking.”
Housing prices are still reasonable after rising 10% to 15% in the Vineyard (they fell 25% during the recession) so it still looks like a good investment. “The market is stronger. Foreclosures are down to nothing, so appraisals are up. Appraisers are no longer fearful. But our biggest problem is lack of inventory,” Roven said.
Econoplay offers our readers a free issue. Click here.