Tuesday, May 25, 2010

Doug Chosen for Top Producer Panel

WALTHAM, Massachusetts

– May 22, 2010 –

Local REALTOR® Doug Reece was recently chosen to participate in a sold out Top Producer Panel presentation by the Massachusetts CRS Chapter, held at the Cape Cod and Islands REALTOR® Association in West Yarmouth, MA.

Reece was one of four award winning CRS panelists chosen from across the state to share their marketing techniques, industry knowledge, and their insight on how best to serve the needs of clients.

During the discussion, moderated by Gary Rogers, CRS, topics such as property marketing, best internet marketing strategies, and client-care ideas were some of the most popular with the audience. All participants agreed that education and earning designations were key in their success.

The Certified Residential Specialist (CRS) is the highest Designation awarded to sales associates in the residential sales field and is held by less than 5% of all REALTORS® nationally. The CRS Designation recognizes professional accomplishments in both experience and education.

Cape Cod REALTOR® Lynette Helms, President of the Cape Cod and Islands Association of REALTORS® said, “Our REALTORS® instantly recognized the expertise of the panelists and were grateful to them for sharing their great ideas”.

Massachusetts CRS Chapter President Lenny Harris, CRS, stated , “Doug Reece is one of the best agents in the Martha’s Vineyard area and is also recognized across the state as being a leader in the industry by constantly raising the bar for the best in customer satisfaction. He also impressed the audience by sharing some cutting edge marketing ideas that will help other agents get their clients’ homes sold faster and for more money.”

Doug Reece, broker/owner of RE/MAX on island has helped over 200 families with their real estate needs on the Vineyard for the past 12 years. Doug can be reached at

508-696-3704 or to learn more, visit www.remax-onisland.com

Tuesday, May 18, 2010

(click on the chart to see larger image)
The Bank of Martha’s Vineyard is offering the following interest rates today. Rates change daily so if you are intrigued by these “historically” low rates give the bank or your mortgage person a call. These are for conforming loans under $417,000 with a 20% down payment. What a great time to purchase or refinance.

Thursday, May 6, 2010

May Musings

“The best spring I have seen on Martha’s Vineyard in my 66 years”. This is a quote from a long time island resident I spoke to last week. And, I must agree. April was a gorgeous month and May began where April left off.

The real estate market, although better than the spring of 2009, is not doing as well as the weather. There were 22 sales in April (down 18% from March) but still strong from one year ago. The median sales price was $525,000 and average days on market were 225. With 28 properties presently “under agreement”, sales in May should be a mirror image of April.

One good point of interest is that only 1 of the 22 sales in April was directly related to a bank foreclosure. Bank foreclosures are responsible for keeping many buyers from making a decision to purchase as the buyer hopes for that “great deal” to appear. The experts tell us that nationwide 2010 will be the worst year ever for number of bank foreclosures…I hope they are wrong.

Buyer activity is busy but sporadic. The typical buyer in this market is well educated (or working on becoming educated) and this can be frustrating for you as a seller. Buyer’s and their agents are “tight lipped” when it comes to showing feedback, so we never really know where things stand with a buyer. Once thing is for sure, buyers are only buying when they see a value and value is based on pricing and property condition.

Interest rates are continuing to hold steady in the low 5’s for a 30 year fixed conventional loan and 5 year ARM’s are as low as 3.75%(I just refinanced to take advantage of this). Unfortunately, the experts are still expecting rates to start an upward trend in the fall.