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Local Info: Martha's Vineyard Massachusetts home buying, real estate listings, and homes for sale in Dukes County, MA
Welcome > Local Info > About West Tisbury ...

About West Tisbury 

If the island has a town best known for its rural, agricultural heritage, it is West Tisbury, which lies just west of Edgartown. West Tisbury is home to the fairgrounds of the Martha’s Vineyard Agricultural Society, whose annual fair and livestock show is the place to be for four festive days every August. 

Driving from Edgartown, the road to West Tisbury takes you past the 5,100 acres of the Manuel S. Correllus State Forest, a nature preserve originally created in 1908 in an attempt to save a dying species of bird called the heath hen. (The bird went extinct, but by happy accident the state forest turned out to be a critical bit of environmental protection: It was placed perfectly above the aquifer, the lens of groundwater that provides the island’s primary fresh water supply.) You’ll also pass a lovely pond with a former woolen mill, now headquarters for the Martha’s Vineyard Garden Club.

Driving from Vineyard Haven, the road to West Tisbury takes you past farms and fields that speak to the island’s agricultural heritage. In the downtown village center, you’ll find a white-steepled church, a quaint town hall that was once an academy for aspiring young mariners, and the famous Alley’s General Store, whose motto, “Dealers in Almost Everything,” pretty much sums up its mission as the last all-purpose retail outpost on the western end of the island. After your stop at Alley’s for a morning paper, a monkey wrench or a boogie board, be sure to wander across the street. There you’ll find the Field Gallery, its lawns dotted with whimsical dancing sculptures created by a beloved island.
 

West Tisbury Pond


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Real Estate Tips
Tax Considerations >New 1031 Exchange Rules

One of the most popular "tax deferring" strategies for real estate owners who are selling one property and acquiring another is the use of Section 1031 of the Internal Revenue Code. It is an effective way to defer paying income tax on capital gain generated by the sale of a property when you intend to reinvest the proceeds in a similar, "like-kind" property. Almost any kind of real property is considered "like-kind" with any other real property.

A recently enacted law closes what was considered a loophole in the Section 1031 rules. In some cases, owners of investment real estate have used the 1031 Exchange to swap their investment property for real estate that could be readily converted to an owner-occupied residential property. After the exchange, they made the property into their principal residence, lived in it for a couple of years, then sold it. Now the American Job Creation Act of 2004 has ruled that properties converted from a 1031 exchange property into a residence must be held and used as a principal residence for at least five years to qualify for the tax exemption. Otherwise, the basic tax-deferring benefits of 1031 exchanges remain the same.

Consult your tax advisor for more detailed information.

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What five basic components of a "smart home" can be controlled by technology?

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Fred Roven, REALTOR®, real estate agents and broker for Martha's Vineyard Massachusetts home listings, property and land for sale - NUMBER1EXPERT(tm)

Fred Roven and Emma Kennedy
Martha's Vineyard Buyer Agents

256 Edgartown Rd.
Edgartown
MA , 02539-1661
Phone: 508-627-5177
Cell: 508-662-3205
Fax: 508-627-7004
buymv@mvbuyeragents.com

What an exciting adventure you are about to begin...joining us on this very special island. We are Exclusive Buyer Agents representing Buyers only in the purchase of residential, vacation, investment, and commercial real estate on the Island of Martha's Vineyard. In addition to all the standard listings, we are able to show you foreclosures, bank owned, and For Sale By Owner properties. We walk you through the whole process, from initial conference to closing. We promote and protect your interests at all times (including anonymous purchases). We negotiate the best price and terms (remember, we are working for you, not the seller). We give you complete confidentiality. The seller will have professional representation, will you? We represent you, the Buyer, 100%. Follow MVBuyerAgents on Twitter


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