May Day/May Day

The end of the month means something else to Realtors: closings. In checking the up-to-the-minute listings marked “sold” on the Cape Cod and Islands MLS just now I saw something that has been creeping in more often: selling prices greater than the listing prices. I scour the “solds” daily because it’s my job to be informed. Normally, selling prices are 93% to 97% of the LAST reported listing price. This has nothing to do with the price the home came on the market at. But recently I’ve seen homes selling at 102%-105% of the listing price, and I have had my own buyer-customers get into little bidding wars over properties. Desirable inventory is in ever-shorter supply in some areas, creating pockets of classical economic supply/demand drama. Lesson: if you see it and want it, buy it. Don’t let the media lull you into a sense of complacency.

I will have a closing in May in Mashpee on 6 Chatham Lane. See the webpage I designed for this home. After the closing I will change it to a “We’ve Moved” page for the buyers, so that they can show all of their friends and family their new home. It’s particularly nice as it’s their first home.

There will be a May Day family concert by Peter and Ellen Allard at Ezra H. Baker School gym in Dennis, 6:00 p.m., public welcome. Sponsored in part by the Dennis Arts and Culture Council and Mass Cultural Council.

Whether May Day is a workers’ acknowledgement day ( International Labor Day) for you, or a day to wear lily-of-the-valley as in France, enjoy the inevitable step toward Summer.

April Showers on the Housing Market

The Cape Cod and Islands Association of Realtors reports that both numbers of sales and average sales prices are down against last March. This is no surprise to me as included in those sales numbers are a plethora of bank owned and short sale properties dragging values down. It has been a rather sad Spring, and while 811 properties were sold in the first quarter, 6,352 remain on the market. The opportunity market continues for both buyers and sellers, as people are here and willing to buy, and depending on when the sellers themselves bought it is a good time to extract themselves from a costly propert and downsize or upsize as the case may be. NPR reported today that the Fed will consider yet another rate cut, and while that does not necessarily translate into mortgage rate reductions, it tends to stimulate spending and create consumer optimism. What does this mean for you? If you can, buy. Real estate is still a good LONG TERM investment. They aren’t making any more Cape Cod, quite the opposite. Unique and exquisite properties will always hold their worth. I can show you some that are indeed special. And if you want a place for family and friends to mill about and BBQ after dragging the floats back after a long day riding the waves, I have that too…on sale.

Cruisin’ and Sippin’

When I went to Seven G’s Liquor Shop yesterday to buy French wine and Italian (!) beer (my husband said, “Surprise me” and that fit the bill) they had a poster for a wine tasting cruise out of neighboring Sesuit Harbor May 10. It’s sounds like great fun, and while I’ll be working, if you find yourself on the Cape Mothers’ Day weekend hop abord. More info at Lobster Roll Cruises.

To see an example of a service that I provide for sellers, visit 6chatham.com. This home is under contract and having its own website helped it sell. The buyers have been able to show their new home to all of their friends and family and it will become their first home album.

Real Estate News

Well, it’s time to get back to business! I’ve been so busy changing my practice over to oldCape Sotheby’s International Realty! It’s a wonderful company, offering the highest level of service to both Buyers and Sellers. See http://www.LisaMorales.com for more information. The Cape market is quite active this Spring, with somewhat reduced inventory keeping prices stable. This past school vacation week was incredibly busy with gorgeous weather. I have two new properties listed, an one bedroom unit at Ocean Edge in Brewster (photo above) and a fantastic two bedroom, unique property in Dennis North of 6A. See the website for more information. You can also see me on linkedin.com and facebook.com. I’ll try to keep this blog better updated! Please write in your Cape Cod or real estate questions. Happy Spring, and remember Brewster in Bloom is coming up May 2,3,4! http://www.brewsterinbloom.com