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Martha’s Vineyard Real Estate

Economic Crisis? Housing Crisis? What Crisis?

by Suzanne on November 10, 2008

I have so much to be grateful for: my family, this incredible island I live on, my business. But, today, I’m thankful for something else: timing.

Despite the warnings, markers and clues about the impending market downturn, Suzanne Lanzone & Daughters had a strong season with multiple house sales, heavy rental traffic. But, it is incredibly fortunate that this economic turndown happened at the end of our season. We have until next spring to recover - and I know the country will.

As for the Martha’s Vineyard realty landscape, inventory is high and we haven’t seen dramatic price reductions. The home owners on the island are not majorly Wall Street, we have a diverse crowd including celebrities, politicians and legacies. Another heavy indicator of the economic temperature on the island: we had our strongest fundraising summer ever.

Bottomline: people want to be on Martha’s Vineyard. It’s a luxury destination, a respite from the rest of the world, it’s safe, it’s private; in short, it’s paradise.

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Yet another reason to keep that jet around…

by Suzanne on November 5, 2008

The Steamship Authority is having a wee bit of trouble. The Nantucket is having engine trouble and the Sankaty was brought from the Nantucket-Hyannis route to help out with MV-Woods Hole traffic. But then the Sankaty had trouble as well.

Generally, the Steamship Authority runs like a well-oiled machine with boats on time and reliable, but these little glitches can cause major hiccups, in this case, on both islands.

Air travel, particularly on private jets, afford total convenience and speed which is especially important for Vineyard home owners that shuttle back and forth between Boston or New York. But Cape Air and US Airways Express also offer a great commercial alternative.

But, there’s still something  about being on the boat…the extra time it take to cross the Sound offers time for the shift - from work, home, the busyness of life to the quiet, laid back island environ.

There’s an energy that gathers speed as the ferry nears the Vineyard harbor with hundreds of excited people on board that just doesn’t happen on a plane filled with 8 passengers, tops. A certain nostalgia exists for some, the reminiscence of being on the water, of traveling over water to reach the island, of whalers and sea captains.

Still, the planes aren’t breaking down.

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EcoMV Featured as a Leader in Green at the DNC

by Suzanne on November 3, 2008

As we near election day, I’m paying attention to the things that made the campaign different and full of change. And it’s always a great surprise when the Martha’s Vineyard community is part of the effort.

At the 2008 Democratic National Convention in Denver, CO, the Democrats held a symposium on all things green, environmentally friendly, alternative energy and sustainable. A Martha’s Vineyard company, EcoMV and its founder and president, Mark Martin, were chosen to both present at the event and provide products to make the convention as green as possible.

EcoMV’s on-island shop, the Bio Store, carries only products that are tried, tested and deemed eco-friendly. These products range from home and personal cleaning, toys, clothes and dishware made primarily of bamboo and help - two materials recognized for their green growing habits (can exist on rain water and grow like weeds) and their sustainability. One of their best efforts to date involves compostable to-go plates, cups, tops, bowls and flatware - which they’ve successfully filled many island restaurants with at this point. They, and we, are hoping for a full sweep by next summer.

At the DNC, Eco MV supplied many of these products and Mark presented and advised the DNC and participants based on his success assimilating green products into the mainstream.

He was quoted in the MVTimes, “We would like to present the Island as an example of what a community can do if they take a personal interest and work together to help the environment. We will be approaching other local groups and businesses to be part of our involvement with the DNC. We want this to become a collaborative event, because it has the potential to make the Island a benchmark for other communities and bring people to the Island, because they know we are an eco-conscientious community.”

Music to my ears - Martha’s Vineyard on the national stage because of our community commitment to sustainability and responsibility to our land, people and planet.

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Seasonal Transitions

by Suzanne on October 17, 2008

This is always a bittersweet time on the island. It’s the end for some, the beginning for others - a change for everyone. Perhaps it’s hardest on the summer people - they have to go back to their real lives once Labor Day passes, after all.

A client of mine, who has become a friend, remarked that this is the first Labor Day that won’t cause physical pain for her and her family in a long time. They usually rented for the month of August and so Labor Day was a big stop sign for them that meant they had to say goodbye to the island, their friends and this way of living until next summer.

But last winter, they purchased their own island home. They won’t be leaving until Wednesday, September 3rd…and they’ll be back most every weekend, until the winter, when their whole family will join them for their first Vineyard holiday season.

Of course, people that haven’t spent much time on the island have made comments about how there must be nothing to do here when it isn’t summer - but it isn’t true. The Vineyard community is so strong, the seasons are truly palpable. Sometimes it is a little quiet…but we think that, sometimes, that’s the point.

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Reflections of a Summer Well Spent, 2008

by Suzanne on October 9, 2008

We’re full into autumn now at the beginning of October. As I sit on my back deck, and enjoy a glass of wine at the end of the day, dusk comes noticeably earlier and there’s a chill in the air. It was a mild October day today, but the warmth of summer has gone.

It was a monumental summer.

Two of the events that I co-chair raised close to two million dollars to support causes that are near and dear to my heart - affordable housing and the Vineyard’s first YMCA.

My daughter, Aly, is home and working by my side which thrills me to the core and highlights what I believe is at the heart of this island community - family.

Parties, events, friends, sailing and exquisite food have made the summer move quickly, easily and laden with satisfaction.

And, finally, I’ve gone out on my own. I took stock, and I made a decision. To remain small, personal and conscious. To give back to this Vineyard that I love. To feel good about what I do and how I serve my clients from the moment I wake up to the moment I fall asleep. To create a new way. And to that, I say, Cheers…and thanks for being here with me.

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Close to 2 Million in Close to 1 Week

by Suzanne on September 29, 2008

At the end of July, I helped raise well over $1 million dollars for the Island Affordable Housing Fund…the following week it was close to $1 million for another worthy cause.

Martha’s Vineyard is inches away from having its very own YMCA, and I was so pleased to co-chair their magnificently successful event on August 3rd: Sunday brunch and All That Jazz.

Featuring Vince Giordano and the Nighthawks of Manhattan, the place was swinging with their music - they actually use original instruments from the 30’s and 40’s to attain their one of a kind sound. This was a summer fundraiser to be sure, filled with Edgartowners and summer people. The Harborview provided the food, and Our Market supplied the bubbly and the Bloody Mary Bar.

Our live auction raised $95,000 from seven items including a Boston Whaler and a charter sail on a yacht (a bit of a sailing theme here!). Ticket sales equaled $205,000 bringing us to $295,000. And then, an anonymous (and longtime friend of the YMCA) offered a $500,000 dollar for dollar challenge grant.

The YMCA needs $12 million to break ground, and this event places them at $11.7. A $17 million total will complete the project. The goal is to raise the remaining $300,000 through individual pledges and donations so that they can break ground this fall.

It was an incredible event, and working with Jim Swartz and John Klein, co-chairs of the capital campaign, and my fundraising co-chair, Tina Miller, was outstanding. We looked at all of the other events - and they had one common theme - they all happened at night. So we flipped things around, shook them up and landed on brunch - and it worked. I can not thank this Vineyard community enough for their generousity

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Dinner at Home in Edgartown

by Suzanne on September 24, 2008

Today a client asked me to name my favorite thing about owning a home on Martha’s Vineyard. Before I could even think, I replied, ‘Creating the ultimate island dinner in my backyard.’ Because I can live the high life, because the island makes it easy, because lobster tastes good everywhere.

Martha’s Vineyard has incredible food…and incredible chefs that use the island’s seasonal fare in ways that, to me, are often unimaginable. Morning Glory Farm gives me the freshest ingredients for salad, the Edgartown Seafood Market steams my lobsters to perfection, Great Harbor Gourmet & Spirits uncorks the best Chardonay, and Espresso Love’s brownies, cookies and pies end every meal perfectly.

There is something about enjoying all that the island has to offer in my own backyard, surrounded by my friends and family…breathing in the ocean air and living life to it’s fullest with a true Martha’s Vineyard meal…at home.

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Houses on the Tube ‘08 Wrap-Up

by Suzanne on September 23, 2008

If you’ve ever visited the chic and stunning Delano Hotel of South Beach, you’ll appreciate the fact that we transformed the Ag Hall in West Tisbury, into the Martha’s Vineyard version of the Delano. White couches, white pillars, flowing white curtains and sparkling lights adorned the Hall; the bright colors of women’s dresses and the clink of ice in glasses filled the room; the music of the and the festive mood inspired an event that surpassed any fundraising event on the Vineyard to date.

The food, provided by Jamie Hamlin, was divine. People actually parked out next to the shrimp table - grilled in something exquisite and topping oil laced Italian bread. The tenderloin was succulent; the tempura divine. The band rocked all night, but the party really started when Jim Belushi took the stage for a set of rockin’ blues…and massive flirting with the audience.

Houses on the Tube is the island’s only telethon and three days on the phones raised over $1 million dollars for the Island Affordable Housing Fund the weekend of July 25th. The Fund will use this money, so generously collected from the Vineyard community to build affordable and LEED platinum certified housing on the island - sustaining the people who make this island as magical as it is.

I am so delighted to be part of this event. As co-chairs of the fundraising committee, Kenn Karakul and I have helped raise over $2.5 million in eight years.

Thank you, everyone, for supporting these efforts and being part of the most wonderful community in the world.

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Suzanne Lanzone…every five years

by Suzanne on September 3, 2008

I believe that when people match their interests and passions with their work, they are guaranteed to succeed - no, to thrive…explosively. As a matter of course, I run a self-prescribed work/life/happiness inventory on myself every five years. Do I like what I’m doing? Is my work fulfilling me? Is this the life I want to be living? The answers surface when I ask the real questions…and so far, every five years I’ve realized that it’s time to make a change, realign and restructure my path to move forward.

I’ve lived on Martha’s Vineyard for the last 17 years - raising my daughters and being part of a community where everyone participates and all voices are welcome. It is a special place. After working in sales for some time, I entered the housing market as a Sotheby’s real estate broker. I loved the work and enjoyed the rapid growth I experienced, but when 2003 rolled around, and I took my five year stock, it was clear that my work, and the life it created, had become too big. And, in that bigness, I watched personal relationships with my clients fade behind the busy-ness of the business.

My answer was too create Hob Knob Realty, a small, boutique brokerage firm located within the charming Hob Knob Inn in Edgartown. As prinicipal broker in charge of the firm, I focused on full, personalized service with every client. And, over the next five years Hob Know Realty grew increasingly more successful.

Fast forward to today. You can do the math - it’s 2008 and time to take stock once again. The last five years have been incredible, and I’m so proud of everything that Hob Knob has accomplished. But, there are just two little things that aren’t matching up.

The firm has gotten too big, carrying over 100 listings. My favorite part of real estate is the one on one relationships that develop between me and my clients and taking the time to connect them to the Vineyard community and landscape. Each of my clients deserves my undivided attention - something that I can manage with less than 25 (different #?) listings, but not with 100.
I want to focus on my homeowners, on my sellers. New real estate laws finally mandate that brokers represent only one side of the deal. My work relies on my complete cooperation with co-brokers on the Vineyard, and I’m proud that I have strong relationships with all of the other brokers on the island (over 60 offices at this point) as well as expertise as a buyer’s agent. Still, my heart leans towards Vineyard property owners. Real estate sales are personal, emotional, satisfying; I enliven the journey.

My answer? Follow my passion and instincts back to intimate real estate with my new luxury firm, Suzanne Lanzone & Daughters. Joined by my daughters, Aly and Rosey), our boutique brokerage firm will remain small, offering the highest level of personal service and comprehensive support to Vineyarders selling homes and land on our exquisite island. Suzanne Lanzone & Daughters…an inspired approach to living on Martha’s Vineyard.

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