Waterfront property in Marblehead $1 million below Assessed Value

One of the surprises to me this year has been the relatively low level of activity in Marblehead waterfront property. I know there is quite a lot of supply, but with the top end hitting new highs in Boston and other cities it does seem that there is an opportunity to buy wonderful property at a great price. As my attorney said to me when I closed on my house many years ago: “they can’t make any more waterfront”.

Recently a beautifully elegant waterfront property came on the market for $1 million below its Assessed Value. The house does need some updating – and I know from personal experience how much it can cost to restore an old house – but if you are in the market for a traditional, New England waterfront property, this is well worth a look.

I’d love to tell you more about this house but apparently it would be a breach of ethics for me to do so as I might be deemed to be recommending a property listed by another Realtor. Go figure.

While there may appear at first glance to be a lot of waterfront homes for sale at the moment, the detailed analysis that a buyer at this level would undertake quickly shows that there are several different categories, by location, condition and style for example, that whittle the number down rapidly when a buyer’s criteria are considered.

And as I point out in another post this morning, the buyers at the upper end are active elsewhere. Surely the delights of summer on the water in Marblehead will attract buyers soon!