Trust and Estate Transfers Dominate August Deed Filings in Oak Bluffs

OAK BLUFFS -- The Dukes County Registry of Deeds recorded eight property transfers in Oak Bluffs between Aug. 7 and Sept. 5, but only three carried a disclosed sale price. The rest were trust, nominee-trust or estate-related transfers among family members.

MARKET OVERVIEW

Eight deeds were recorded during the period. Among the three sales with a disclosed price, the range ran from $640,000 to $1,470,000, with a median of $780,000. Five of the eight recorded transfers, 62 percent, carried no disclosed consideration. Because most of the period's activity consisted of within-family trust and estate transfers rather than open-market sales, the raw count of eight recorded deeds does not by itself indicate how active buyer demand was; price-based conclusions in this report rest on just three transactions.

TOP SALES

The highest-priced transaction was 25 Pennacook Ave., which sold for $1,470,000 on Aug. 11. The sellers were listed as Keith Henry and Elizabeth Robinson Henry; no buyer was listed in the record provided.

2 Windfarm Circle sold for $780,000 on Aug. 11. The seller was listed as Celiomar P. DeOliveira, and the buyer was listed as New Fed Mortgage Corp. and Mortgage Electronic Registration Systems Inc.

21 Kennebec Ave., Unit 1, sold for $640,000 on Aug. 7. The seller was listed as SMGOB Realty LLC, and the buyer was listed as Locals Only MV LLC.

NEIGHBORHOOD BREAKDOWN

No two disclosed-price sales occurred on the same street, so activity is summarized by price tier. One sale, at 25 Pennacook Ave., topped $1 million. Two sales, at 2 Windfarm Circle and 21 Kennebec Ave., fell in the $500,000-to-$1-million range. No disclosed-price sales fell under $500,000.

The remaining five transfers, none with a disclosed price, were spread across Nashawena Park, Pierce Avenue, Plymouth Avenue, Paddock Road and one unaddressed Oak Bluffs parcel. None of these streets had more than one recorded transfer in the period.

MARKET NOTES

Five of the eight recorded deeds, all without a disclosed price, involved transfers into family or nominee trusts or were tied to an estate: 19 Nashawena Park (Jane C. Edmonds to Jane C. Edmonds, trustee, and the Edmonds Family Trust); an unaddressed Oak Bluffs parcel (from the estate of Patricia L. Irving and Sabrina R. Goldberg, recorded via an affidavit of no estate taxes due); 14 Pierce Ave. (Katherine J. Farrissey to herself as trustee of the Pierce Ave. Nominee Trust); 23 Plymouth Ave. (Robert J. and Suzanne M. Areano to themselves as trustees); and 35 Paddock Rd. (Claire C. Crocco and the estate of Keith Merritt Crocco to Claire C. Crocco and Jake Merritt Crocco as trustees). This report notes the pattern without characterizing the reasons behind these transfers.

Of the three disclosed-price sales, one involved a mortgage company and its nominee, Mortgage Electronic Registration Systems Inc., as the buyer of 2 Windfarm Circle, rather than an individual purchaser. One property, 21 Kennebec Ave., Unit 1, is recorded as a condominium unit; the other seven addresses carry no unit designation in the deed data provided. Bedroom, bathroom and square-footage figures were not available in the deed records for any property in this period.

Recorded Deeds

Source: Registry of Deeds. Sale amounts shown as recorded; transfers without a disclosed consideration are noted as such.

Compiled from official town feeds, community organizations, and local press. Outside reporting is attributed inline.