Splitrock Real Estate LLC

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Exclusive Representation FOR BUYERS ONLY with over two decades of Martha's Vineyard Real Estate knowledge and experience.

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Home Sales will Rise Modestly in 2011
But won't really take off until 2012, economists with the Mortgage Bankers Association predict in their latest forecast.
Existing-home sales, which are expected to be about 8 percent lower this year than last, are expected to grow by less than 2 percent next year before increasing by 16 percent in 2012.
New-home sales, which will probably drop 13 percent this year from last, are expected to bottom out in the third quarter of this year and grow by 20 percent in 2011 and 40 percent in 2012.
That, along with a decrease in the share of cash purchases should drive the dollar volume of purchase mortgage originations up 30 percent in 2011, the MBA said.
Mortgage rates are probably headed up, but may still be below 6 percent in two years, the forecast said. MBA economists expect fixed-rate mortgages to average about 4.4 percent in the fourth quarter of this year, increasing to 5.1 percent by the end of 2011 and reaching 5.7 percent in 2012.

(The preceding information was excerpted from an editorial published by Inman News)
A Former Client tells me why he believes the decision to hire an Exclusive Buyer Agent on Martha’s Vineyard is a ‘No Brainer’.

As an Island homeowner, I find that friends often ask about our home buying experience with the hope that we will provide guidance to facilitate their search. My first and only recommendation: Hire an Exclusive Buyer Agent. They will represent you throughout the process from start to finish. Although I am not a real estate professional, I feel the lessons learned and the experience gained during my own home purchase with you by my side provided me the unique perspective to offer advice to others seeking the Martha's Vineyard lifestyle experience.

While I sense more people today contract for the services of Exclusive Buyer Agents than in the past, many home buyers still just don't think about it or don't believe they can actually have someone passionately represent their best interests at all times. This was certainly my friend's mindset. In part, I think it is because people believe it will be more costly. They think there has got to be a catch. I thought you might be interested in how I describe the benefits of your type of service to my friends. (Read More)

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 don't have to be rich to be represented by SplitRock Real Estate, you just have to be SMART!
You will want to bookmark this page in your Favorites folder so you can come back often to review Peter's Picks to preview what I believe are potentially above average luxury home and land opportunities in Edgartown, Oak Bluffs, Vineyard Haven, West Tisbury, Chilmark and Aquinnah, or to research the most recent Sold Property Transfers and Sales Trends. Just for fun, you can keep your eye on the Island by viewing the local webcams on my Island Webcams & Local Weather page.

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.”

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.

"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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