Real Estate Confidential is a weekly chit chat about new listings, sales, or other insider info on the Martha’s Vineyard real estate market, by Fred Roven, Martha’s Vineyard Buyer Agents. It appears each Friday in The Minute.
As real estate prices continue their slow but determined climb, each price range brings a new array of amenities. The move to $2 million and above is possibly one of the most significant. You will begin to see more privacy, larger lots and views that go on forever. One of the most striking are waterfront homes that offer investment potential with similar renovated homes priced many millions of dollars higher.
You are not just getting a little more — you are getting a lot more of what you want in a home. You will find homes in Chilmark and Aquinnah sited on hills with near and distant wide water views, and containing luxury amenities including modern kitchens and quality construction, plus access to up-Island oceanfront beaches. Homes will be larger and will include older renovated homes and new homes with open floor plans and larger lots.
This is the first price range you will find new luxury homes in Katama with easy access to downtown Edgartown and South Beach. There are homes Island-wide featuring modern, more contemporary construction features and immediate access to private beaches either in associations or your own. There are 3,000-square-foot homes with a swimming pool in new upscale communities. Size is often the key here with larger homes on larger lots, often with guest houses and the opportunity for a family compound to be owned and enjoyed for generations to come.
Traveling from east to west across the Vineyard, the first property in this group is the enchanting, rambling farmhouse at 10 Duck Pond Way in Aquinnah. I have spent many hours on one or another of multiple decks and porches with their magnificent views of the Atlantic Ocean watching truly spectacular sunsets. Three acres of land are surrounded by ancient stone walls, and a freshwater stream. A short walk down a deeded grassy path through this tranquil setting of gardens and pastoral views takes you to the Land Bank Beach on Moshup Trail. The renovated farmhouse designed with an artistic flair is one of the few commercially zoned properties in Aquinnah and offers many possibilities. If this is not enough, you can add a 2-bedroom transformed barn on 2 acres to the package.
On a short walk from Alley’s down Music Street in West Tisbury sits one of the most unique properties available on an island full of surprises. Sitting on the edge of Looks Pond is an “Enchanted Cottage” at 42 Looks Pond Way. The living space is as unique as the property with one section housing a living room with fireplace and a spacious master bedroom suite overlooking the gardens and pond connected to a second section containing 4 bedrooms with a separate kitchen. Perfect for extended family and friends. The grounds are the most enchanting of all with a bridge to a private island containing a gazebo, trellises and fences fashioned from natural trees and branches plus gardens and park-like pathways. It is all at the same time breathtaking and peaceful.
The best value in this range is the 1870 Greek Revival overlooking Vineyard Haven Harbor at 125 Main Street. The house sits majestically just outside of town and its multiple restaurants, movie and stage theaters and the Island’s most vibrant year-round community. I believe Vineyard Haven and particularly its waterview and waterfront properties hold the best investment value right now compared to the other down-Island communities. The well maintained exterior of this 3-bedroom 3-bath home with two living rooms has unobstructed water views and a nearby public beach. All that is remaining is the addition of your own creativity.
Personally, I have always been fascinated with the idea of living in view of a lighthouse. The home at 24 Manaca Hill Road, Chappaquiddick, with its sweeping views over Edgartown Harbor and out to Cape Pogue would satisfy that desire. A short walk to the Chappy Ferry and Edgartown Village gives this property a substantial price advantage over other harborfront properties. The main living area has a vaulted ceiling with a wall of glass facing the wraparound deck with its ocean views. Also included is a one bedroom guest cottage with a kitchen. This property has an established, impressive rental history. This Chappy Beach House Compound has plenty of room for outdoor enjoyment for family and friends.
For a look at many properties in this price range that take a big leap in amenities, check out Taking the step to $2,000,000.
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