123 Golf Club Road, Tisbury

Bernadine A. Prygrosky, Gertrude A. Prygrosky and Carol B. Prygrosky purchased 123 Golf Club Road in Tisbury from Raymond Maciel Jr. and Patricia Maciel for $1,220,000 on Dec. 28.

4 Golden Road Way, Chilmark

Alan Dershowitz purchased 4 Golden Rod Way in CHilmark from James Goodman for $385,000 on Dec. 28.

Lake Tashmoo Estate

Offered by Wallace & Co. Sotheby's International Realty

Private waterfront estate on Lake Tashmoo with 5 separate structures including a 3500 sq.ft main house featured in Architectural Digest, a Hutker designed home perched on the water's edge, a water view 1 bedroom studio, a rustic guest cottage surrounded by gardens and a large shed/workshop. When you arrive at this property you will find colorful perennial gardens sprinkled around a rolling landscape with mature trees. Enjoy over 200ft of waterfront on Lake Tashmoo with 2 deep water moorings. This is truly the best kept secret on the Island.

39 Sengekontacket Road, Oak Bluffs

39 Sengekontacket Road in Oak Bluffs sold for $1,200,000 on Nov. 19. 

Flat Market, Low Land Bank Revenues Lead to Fewer Purchases

And although money is coming in, executive director James Lengyel said the lank bank is not in the position to be acquiring new properties, with a still slumping real estate market. Last week, the land bank reported revenue of $0. Mr. Lengyel said a week without revenue is infrequent for the land bank, though it has happened before. The last time, he said, was within the last year.

Median Home Prices Fall on Vineyard as Real Estate Market Begins to Stall

The price of the typical home on Martha's Vineyard fell for the first time in six years in 2006, as buyers left the market and sales figures dropped by nearly 30 per cent.

The median price for properties was down to around $690,000 in the third quarter of 2006, a fall of almost six per cent compared with a year earlier when the median price was around $732,000.

Real Estate Remains Slow; Scattered Foreclosures

The statistical evidence shows the real estate market on Martha’s Vineyard remains in a hole, but the anecdotal evidence suggests it might at last be beginning to climb out.

Figures for the period up to the start of August this year show sales numbers and prices both down sharply compared with the same period in 2007 — which was itself a bad year for real estate.

The median price paid for family homes to August 4 was down in all the Island towns, according to figures from Banker and Tradesman online, which compiles its figures from sale documents.

Renowned British Architect, Arts Publisher Acquire Blue Heron Farm for $21.9 Million

Blue Heron Farm, the Chilmark estate that President Obama and his family have rented for three past summer vacations, was sold last week for $21.9 million. The gentleman’s farm will be occupied by a high-profile European couple, Lord Norman and Lady Elena Foster of Thames Bank in Great Britain.

Two-Speed Economy: High End Is Spending, Bottom End Suffering

The good news for the Vineyard economy is that in the first three months of this year banks loaned some $240 million for new mortgages, well above the numbers for the previous two recession years.

Even better, said Chris Wells, president and chief executive officer of the Martha’s Vineyard Savings Bank, most of that was for new purchases rather than refinancing of existing loans, the biggest part of the mortgage business during the downturn.

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