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.” (more…)