Another great Marblehead attraction: the new Transfer Station
When my daughter was visiting from London earlier this year I wanted to show her something special about Marblehead, something that London did not possess. So I drove her around the new Transfer Station, known unofficially as the Dump.
Recently, Sustainable Marblehead organized a tour of the new Station as reported in this Marblehead Reporter article.
Do read the article, as it explains the remediation that has taken place at the site following the discovery of heavy metal soil contamination, as well as revealing that Marblehead currently recycles about 34% of its recyclable material, close to the national average, but way below San Fancisco’s 80%.
The Town’s website, by the way, explains why it is known as a Transfer Station:
All the ash was left on-site until 1975. That was when the ‘dump’ became the ‘transfer station’ whereby trash was collected, then transported to other facilities for disposal via burning or landfill.
Whether you call it the Dump or the Transfer Station, it is well worth a visit and should encourage you to help raise Marblehead’s recycling rate. Sadly, impressed though I am sure she was, my daughter chose to return to London.
If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, please contact Andrew Oliver on 617.834.8205 or Kathleen Murphy on 603.498.6817.
If you are looking to buy, we will contact you immediately when a house that meets your needs is available. In this market you need to have somebody looking after your interests.
Are you thinking about selling? Read Which broker should I choose to sell my house?
Andrew Oliver and Kathleen Murphy are Realtors with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
House on Beach in Marblehead Back on Market
The sale of this spectacularly located house , sitting directly on and at the top of the longest beach in Marblehead, fell through at the very last moment, thus providing another opportunity for buyers. After a recent huge price reduction 46 Gallison Avenue – which was substantially rebuilt in 1997 and updated in 2016 – is now offered for a mere $52,000 more than just its assessed land value.
There is an Open House this Sunday 12:00-2:00, or call for a private showing. The website includes a video of the property – and of the views.
Can you imagine living here and waking up to this?
followed by this
and then this
If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, please contact Andrew Oliver on 617.834.8205 or Kathleen Murphy on 603.498.6817.
If you are looking to buy, we will contact you immediately when a house that meets your needs is available. In this market you need to have somebody looking after your interests.
Are you thinking about selling? Read Which broker should I choose to sell my house?
Andrew Oliver and Kathleen Murphy are Realtors with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
How is Marblehead’s 2018 Property Tax rate calculated?
(Click here to download a pdf of this report.)
In my Marblehead announces 2018 Property Tax rate post this week I promised to write another article explaining exactly how the tax rate was calculated. This is it.
The formula is actually very simple: take the $ amount of the previous year’s tax levy, add 2.5% for Proposition 2 1/2, and also add any new growth (such as new construction or a condo conversion). This figure is the new tax levy. To this figure is added debt service – the Principal and Interest payable on the town’s debt.
Here are the numbers for FY 2017 and 2018, remembering that the FY runs from July to June.
The Tax Levy calculation
The $ amount raised by the property tax will increase year by year. That is because of the formula: last year’s number plus 2.5% plus new growth. In the table above you can see how the FY 2017 tax levy of $57,779,806 becomes the base for FY 2018. Add 2.5% and new growth and the new figure is $59,592,925. To both these numbers is added the debt service – Principal and Interest on the town’s debt, much as homeowners pay P&I on their mortgage.
The Tax Rate
The actual tax rate depends upon the total Assessed Value of all property: residential, commercial and personal. The tax rate is calculated by dividing the total dollar amount to be raised by the total Assessed value of all property. Thus, while the $ amount raised by the tax (and therefore the average tax bill) will increase each year, the headline tax rate will fluctuate depending upon the direction of Assessed Values.
In simplistic terms, the $ amount raised before debt service will increase by a little more than 2 1/2% each year, so if the median Assessed Value also increases by a little more than 2 1/2% the tax rate will be unchanged. If the increase in Assessed Values is less than 2 1/2%, then the tax rate will rise. And if the increase in Assessed Values is more than 2 1/2% then the tax rate will rise.
In FY 2017 the tax rate was $11.02, achieved by dividing the almost $64 million to be raised by the $5.8 billion of Assessed value. And in FY 2018 the calcualtion is $66.3 million divided by $6 billion.
How does debt service affect the tax rate?
The announced property tax rate announced each year includes the cost of debt service. As can be seen in the table below, while the tax rate from the levy to pay for town services has declined in recent years as property prices have increased, the cost of debt service has increased steadily, as we are paying for large ticket items such as the Glover School and Transfer Station.
What is the outlook for FY 2019?
The residential real estate market in Marblehead has been very strong in 2017 (and the 2017 median price will be the basis for the FY 2019 tax rate). At this stage it looks as though the median price will be around $660,000, an increase of over 6% from 2016’s $620,000. But bear in mind this is the median price of the roughly 230 SFHs that will sell this year out of the more than 6,200 SFHs in Marblehead, so does not imply that the Town’s Assessed Value will increase by 6%.
Nevertheless, with debt service at this time forecast to be similar to the FY 2018 level, it seems reasonable to expect a modest decline in the tax rate for FY 2019. But tax bills will continue to go up!
If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, please contact Andrew Oliver on 617.834.8205 or Kathleen Murphy on 603.498.6817.
If you are looking to buy, we will contact you immediately when a house that meets your needs is available. In this market you need to have somebody looking after your interests.
Are you thinking about selling? Read Which broker should I choose to sell my house?
Andrew Oliver and Kathleen Murphy are Realtors with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
Marblehead Oceanfront: $100,000 PRICE REDUCTION through SUNDAY NIGHT
This property offers not just one, but two houses on what is currently one lot. Oceanfront properties on the North Shore in general sell for $500-1,000 plus per sq.ft. 11 Crown Way is offered at just $440 per sq.ft. – and that counts just the main house.
Breathtaking views all the way down to the South Shore from this gracious, restored (1998-2006), 1870s oceanfront home. The open floor plan offers an easy flow for entertaining. The house sits on a private beach, high above the Atlantic, in a wonderfully protected location (no flood insurance required.) VIEWS and VIEWS and VIEWS.
Click 11 Crown Way for photos and description, and here’s a link to the Video. And a recent Crown Way sunset.
Carriage house believed to be a stop on the Underground RaiIroad. Property featured by Massachusetts Historical Commission.
Listen to the sound of the ocean, while looking out over the rocks which provide a sanctuary for wildlife.
Just 13 miles north of Boston’s Logan Airport, while enjoying all the charms and delights of the “Yachting Capital of America”, and “New England’s Best-Kept Seaside Secret.” Huge price reduction allows for any further updating required.
If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, please contact Andrew Oliver on 617.834.8205 or Kathleen Murphy on 603.498.6817.
If you are looking to buy, we will contact you immediately when a house that meets your needs is available. In this market you need to have somebody looking after your interests.
Are you thinking about selling? Read Which broker should I choose to sell my house?
Andrew Oliver and Kathleen Murphy are Realtors with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
Marblehead announces 2018 Property Tax Rate
(Click here to download a pdf of this report.)
The property tax rate for Fiscal Year 2018 (July 2017-June 2018) will be $11.02, just a penny higher than 2017’s $11.01.
Here is a breakdown in recent years showing the impact of debt exclusions (for items such as schools and the new transfer station):
Source: Marblehead Board of Assessors
As usual, the Board of Selectmen voted to maintain the commercial rate at the same level as the residential rate.
The median Single Family Home assessment for FY 2018 increased 4.3% to $603,000 and the median tax bill for FY 2018 will increase 4.4%, or by $281, to $6,645.
I will provide more details, including a breakdown of how the rate was calculated, in a report this coming weekend.
Meanwhile, may we all have something for which we can be grateful this Thanksgiving.
If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, please contact Andrew Oliver on 617.834.8205 or Kathleen Murphy on 603.498.6817.
If you are looking to buy, we will contact you immediately when a house that meets your needs is available. In this market you need to have somebody looking after your interests.
Are you thinking about selling? Read Which broker should I choose to sell my house?
Andrew Oliver and Kathleen Murphy are Realtors with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
Marblehead Oceanfront: Buy One Get One Free
This property offers not just one, but two houses on what is currently one lot. Oceanfront properties on the North Shore in general sell for $500-1,000 plus per sq.ft. 11 Crown Way is offered at just $440 per sq.ft. – and that counts just the main house. The carriage house is free.
Breathtaking views all the way down to the South Shore from this gracious, restored (1998-2006), 1870s oceanfront home. The open floor plan offers an easy flow for entertaining. The house sits on a private beach, high above the Atlantic, in a wonderfully protected location (no flood insurance required.) VIEWS and VIEWS and VIEWS.
Last Open House this Sunday 12:00-2:00 at 11 Crown Way. And here’s a link to the Video. and a recent Crown Way sunset.
Carriage house believed to be a stop on the Underground RaiIroad. Property featured by Massachusetts Historical Commission.
Listen to the sound of the ocean, while looking out over the rocks which provide a sanctuary for wildlife.
Just 13 miles north of Boston’s Logan Airport, while enjoying all the charms and delights of the “Yachting Capital of America”, and “New England’s Best-Kept Seaside Secret.” Huge price reduction allows for any further updating required.
Owner says “Bring Me An Offer.”
If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, please contact Andrew Oliver on 617.834.8205 or Kathleen Murphy on 603.498.6817.
If you are looking to buy, we will contact you immediately when a house that meets your needs is available. In this market you need to have somebody looking after your interests.
Are you thinking about selling? Read Which broker should I choose to sell my house?
Andrew Oliver and Kathleen Murphy are Realtors with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
Marblehead’s Collapsing Inventory in One Chart
Many of the headlines about real estate over the last year or so have referred to the decline in inventory. One result of the decline has been bidding wars. Another consequence is that some prospective buyers have become discouraged and stopped looking actively, while some sellers have not listed their house because they fear they will not be able to buy another house.
The chart below shows the month-by-month inventory over the last 4 years. The number of homes for sale in 2016 was quite consistent with 2015, but 2017 has seen a major drop. Most notably, there was no real pick up in inventory in either of the traditional selling seasons: spring and fall.
Source: MLS, Oliver Reports
If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, please contact Andrew Oliver on 617.834.8205 or Kathleen Murphy on 603.498.6817.
If you are looking to buy, we will contact you immediately when a house that meets your needs is available. In this market you need to have somebody looking after your interests.
Are you thinking about selling? Read Which broker should I choose to sell my house?
Andrew Oliver and Kathleen Murphy are Realtors with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
Videos of Marblehead from Channel 5’s Chronicle
This week Chronicle showed a new Marblehead 2017 video.
I also found this earlier Marblehead 2013 video.
Shayna Seymour was the presenter of both videos. I think she must really like Marblehead. What good taste she has.
If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, please contact Andrew Oliver on 617.834.8205 or Kathleen Murphy on 603.498.6817.
If you are looking to buy, we will contact you immediately when a house that meets your needs is available. In this market you need to have somebody looking after your interests.
Are you thinking about selling? Read Which broker should I choose to sell my house?
Andrew Oliver and Kathleen Murphy are Realtors with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
The best value in Marblehead Oceanfront property?
This property offers not just one, but two houses on what is currently one lot. Oceanfront properties on the North Shore in general sell for $500-1,000 plus per sq.ft. 11 Crown Way is offered at just $440 per sq.ft. – and that counts just the main house.
Breathtaking views all the way down to the South Shore from this gracious, restored (1998-2006), 1870s oceanfront home. The open floor plan offers an easy flow for entertaining. The house sits on a private beach, high above the Atlantic, in a wonderfully protected location (no flood insurance required.) VIEWS and VIEWS and VIEWS.
Open House Sunday 12:00-1:30 at 11 Crown Way. And here’s a link to the Video. And a recent Crown Way sunset.
Carriage house believed to be a stop on the Underground RaiIroad. Property featured by Massachusetts Historical Commission.
Listen to the sound of the ocean, while looking out over the rocks which provide a sanctuary for wildlife.
Just 13 miles north of Boston’s Logan Airport, while enjoying all the charms and delights of the “Yachting Capital of America”, and “New England’s Best-Kept Seaside Secret.” Huge price reduction allows for any further updating required.
Owner says “Bring Me An Offer.”
If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, please contact Andrew Oliver on 617.834.8205 or Kathleen Murphy on 603.498.6817.
If you are looking to buy, we will contact you immediately when a house that meets your needs is available. In this market you need to have somebody looking after your interests.
Are you thinking about selling? Read Which broker should I choose to sell my house?
Andrew Oliver and Kathleen Murphy are Realtors with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
Marblehead house on Goldthwait Beach for only $52,000*
Sitting directly on and at the top of the longest beach in Marblehead is 46 Gallison Avenue. Huge price reduction means the house – which was substantially rebuilt in 1997 and updated in 2016 – is now offered for a mere $52,000 more than just its assessed land value. (more…)
Marblehead Oceanfront Open House: “Bring me an Offer”
Breathtaking views all the way down to the South Shore from this gracious, restored (1998-2006), 1870s oceanfront home. The open floor plan offers an easy flow for entertaining. The house sits on a private beach, high above the Atlantic, in a wonderfully protected location (no flood insurance required.) VIEWS and VIEWS and VIEWS.
Open House Sunday 12-1:30 at 11 Crown Way. And here’s a link to the Video.
Carriage house believed to be a stop on the Underground RaiIroad. Property featured by Massachusetts Historical Commission.
Listen to the sound of the ocean, while looking out over the rocks which provide a sanctuary for wildlife.
Just 13 miles north of Boston’s Logan Airport, while enjoying all the charms and delights of the “Yachting Capital of America”, and “New England’s Best-Kept Seaside Secret.” Huge price reduction allows for any further updating required.
Owner says “Bring Me An Offer.”
Marblehead Q3 Housing Report: prices break through $700,000
The median price of a Single Family Home (SFH) exceeded $700,000 for the first time in the third quarter. YTD the median price increased 7% to a new high of $656,000. With most of Q4 sales already under agreement, it is quite likely that the median price will exceed $700,000 for the second half of the year. Sales were down slightly YTD, a consequence of the low inventory all year.
Median Price
After a sequence in which the median exceeded $600,000 in 8 of 11 Quarters, the median price broke through $700,000 in Q3.
Marblehead Q3 market hits new record high
Here is a summary of the market in Marblehead – a full report will be published shortly. Click Marblehead_Q3_2017_summary to download a printable copy of this summary.
Single Family Homes(SFH)
The median price of a SFH exceeded $700,000 for the first time in the third quarter. YTD the median price increased 7% to a new high of $656,000. With most of Q4 sales already under agreement, it is quite likely that the median price will exceed $700,000 for the second half of the year. Sales were down slightly YTD, a consequence of the low inventory all year.
Condos
Marblehead has a small condo market and one which varies from waterfront purpose-built condos to conversions of former apartments. As such, the median price can and does fluctuate. What is notable is that nearly half the sales this year to date have taken place at or above the list price.
If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, please contact me on 617.834.8205 or Andrew.Oliver@SothebysRealty.com.
If you are looking to buy, I will contact you immediately when a house that meets your needs is available. In this market you need to have somebody looking after your interests.
Are you thinking about selling? Read Which broker should I choose to sell my house?
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
Marblehead house on Goldthwait Beach for only $52,000*
Sitting directly on and at the top of the longest beach in Marblehead is 46 Gallison Avenue. Huge price reduction means the house – which was substantially rebuilt in 1997 and updated in 2016 – is now offered for a mere $52,000 more than just its assessed land value.
There is an Open House on Sunday 11:30-1:00, or call for a private showing. The website includes a video of the property – and of the views.
Can you imagine living here and waking up to this?
followed by this
and then this
If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, please contact me on 617.834.8205 or Andrew.Oliver@SothebysRealty.com.
If you are looking to buy, I will contact you immediately when a house that meets your needs is available. In this market you need to have somebody looking after your interests.
Are you thinking about selling? Read Which broker should I choose to sell my house?
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
MAKE ME AN OFFER: Marblehead Oceanfront restored home
Breathtaking views all the way down to the South Shore from this gracious, restored (1998-2006), 1870s oceanfront home. The open floor plan offers an easy flow for entertaining. The house sits on a private beach, high above the Atlantic, in a wonderfully protected location (no flood insurance required.) VIEWS and VIEWS and VIEWS.
Carriage house believed to be a stop on the Underground RaiIroad. Property featured by Massachusetts Historical Commission.
Listen to the sound of the ocean, while looking out over the rocks which provide a sanctuary for wildlife from sea birds to ocean wild life.
Carriage House on water’s edge believed to be a station on the Underground Railroad.
Just 13 miles north of Boston’s Logan Airport, while enjoying all the charms and delights of the “Yachting Capital of America”, and “New England’s Best-Kept Seaside Secret.” Huge price reduction allows for any further updating required.
Owner says “Bring Me An Offer.”
Open House Sunday 2-3:00 at 11 Crown Way
DCIM101MEDIADJI_0432.JPG
If you are considering selling your home please contact me on 617.834.8205 or Andrew.Oliver@SothebysRealty.com for a free market analysis and explanation of the outstanding marketing program I offer.
Read Which broker should I choose to sell my house?
If you are looking to buy, I will contact you immediately when a house that meets your needs is available. In this market you need to have somebody looking after your interests.
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
Recent Comments