Sponsored: Real Estate Confidential: How to determine luxury values


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.

The short answer is to pull up a chair, plant it in just the right spot, and enjoy. You get a view or a perfectly detailed home in a perfect hideaway to enjoy what the Vineyard has to offer without leaving your Vineyard paradise. You may let friends (and relatives?) stop by to enjoy with you, but it remains your home chosen for its proximity to water first and foremost with a decision on what is a good location further down your list.

Although location remains important, everyone has a different idea.  For many people, the idea of a luxury home on Martha’s Vineyard has to do as much with what you get in terms of ocean access balanced with a decision on location, as well as the quality and design of the home itself.  You can always build whatever would satisfy your needs, wants, and desires, but you cannot build a view that goes forever.

For many properties in this group, a large new home is an added benefit and certainly adds to the personal value.  But think about it. Even if you spend in the higher end per square foot, a 3500 SF home will cost $2.5-$3.5 million to build and even add another $250,000 for pool and landscaping and still be nowhere near the $10 M to $20M to buy that perfect (for you) waterfront spot.  The town location on the Island is still important, and for many luxury homes on Martha’s Vineyard, the value is all about the water.

81 Squibnocket Farm Road, Chilmark is one of 16 homes surrounded by 535 acres of conservation and protected land in Squibnocket Ridge.  There are unspoiled and dramatic views of sand, dunes, grassland, and ocean as far as the eye can see. Squibby is bordered by the Atlantic Ocean and Squibnocket Pond and surrounded by several miles of sandy beaches.  This paradise is considered one of the finest waterfront communities on the east coast. The home has a lot going for it in its own right and must be experienced to understand why it could be considered the most interesting home on the Vineyard.   

For anyone who puts value in location and amenities equal to the relationship with water, nothing much compares to 12 Guernsey Lane, Edgartown.  You can enjoy your property overlooking Edgartown Harbor with views to Chappaquiddick and across Katama Bay to South Beach, spending time in the pool or Jacuzzi, or spend the afternoon on your boat as you shove off from your own deep water mooring or pier.  In the evening, take a 1 mile stroll to town for dinner, or a 5 minute bike ride for coffee in the morning. If your waterfront does not offer enough sand, South Beach is a 10 minute bike ride away along Katama Bay. A large lot with multiple recently renovated living spaces including the pool house.   

The value of 95 Stonewall Road, Chilmark can only be appreciated by looking out at the view with ocean front in one direction, pond front in another, and beaches and tree line for as far as the eye can see. This is a true seaside retreat in paradise. For many, the peace and solitude of a summer away from the city is best enjoyed on the Vineyard of years gone by, and look no further than this oasis.  An updated guest house has kept its beachstone fireplace, and the main house provides casual, carefree days at the shore. Short paths lead to swimming, kayaking, and surfing but maybe take the first few weeks of the summer to settle into the view.  There is always time to be on the water later. I have said this before, if I have one favorite property on Martha’s Vineyard, this would certainly be it. But, we need to talk about the price a bit.

I must quote the broker for the description of 1153 Main Street, Vineyard Haven. “…(The) property makes the most of its dramatic setting ……. A private path leads to the West Chop Trust’s north shore beach for lazy days in the sun, tide rides, and fishing. Just two miles from the center of Vineyard Haven, a West Chop classic.” Sit close to town and your beach access while staring out over the water to decide what joy to experience next.

Click here for a list of my current favorite luxury opportunities.

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