AAA rated Marblehead – again

As this For seventh consecutive year Marblehead attains AAA bond rating  Marblehead Reporter article points out, Marblehead is one of just 45 of Massachusetts’ 351 cities and towns to be rated AAA by Standard & Poor’s.

S&P cited Marblehead’s “very strong economy, strong management with good financial policies and practices, strong budgetary performance, very strong liquidity and budgetary flexibility, strong debt and contingent liability position, and strong institutional framework” as positive credit factors, according to the Town’s press release.

These factors contribute to a robust real estate market, described thus in the Town’s Comprehensive Financial Report:”… continues to be in the revitalization stage of the real estate cycle as demonstrated by the continued number of “tear downs” and redevelopment of 17 new dwellings. Additionally, smaller subdivisions are in the planning stages. Local realtors continue to maintain that this market has seen the strongest demand since the peak of the market in 2006. Average marketing time for properties is less than 3 months if priced properly. Demand continues to outweigh supply resulting in a seller’s market and an upward trend in values.”

The $9.2 million 20-year General Obligation bond bears interest at 2.44% and the proceeds will be used as follows:

Source: SEC filing

If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, feel free to contact me on 617.834.8205 or Andrew.Oliver@SothebysRealty.com.

Read Which broker should sell my home?

Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated

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