The 100th Post: Real Estate at the close of 2009

December 13, 2009

The Dennis Stroll is going on today, a wonderful day sponsored by Northside businesses, and a steady rain has moved in. While it’s been seasonably cold of late, it’s milder now and subject to the weather off the water.  The recent blue skies have welcomed friends and family to our home, and strolls on the winter beach have been bracing yet fun.  The “why” of a place is as important as any “how,” and why we live on Cape Cod is different and precious to each person, especially to those who experience all four seasons here in succession.  So although Maine claimed the moniker, Cape Cod can constitute “vacationland” 365 days if you remember to watch the sunset in Welfleet as you pick your child up from yoga, or eat your lunch in your truck at Corporation beach between jobs as a builder friend does.  I imagine wherever one lives, be it San Diego or Paris or anyplace considered by others to be a vacation spot you have to be a tourist in your own town every day to keep the magic going.

So who is coming to Cape Cod, and how much are they paying to do it?  Once again my pseudoscientific observations show these characteristics of sales for the past 14 days in Barnstable county:  there were 142 sales of single family homes.  Of these, 90 were under $400,000.  OK, that included 2 mobile homes.  A whopping 23 of the 142 sold at asking price or above ( 11) , as much as 150% above asking. Remember that this is measured from the last asking price, not the original price.  One of these, selling at 104.35% of asking price, was a cash transaction for $2,400,000 and 10 days on the market.  A second transaction, in Orleans, was a cash deal for $ 3,850,000 after only 49 days on the market.  In fact, purchases from that high to $885k, $825k, $746k and $770k were all cash in the past two weeks alone.  I had two multi-million dollar cash sales lately.  Since I make my money as a Realtor and not a statistician I can only guess that folks with wealth are tired of seeing it drained away by weak or unstable markets and are putting it into real estate, and second homes at that.

The number of homesellers entering the market has slowed a bit this month, which is understandable. You want to put your tree up and not hold an open house. But get ready for January to be a great time for all parties as inventory will enter the market and rates remain incredible low, in case you aren’t paying $3.8m in cash.

Warmth and comfort at this time to all of you and yours, and many thanks to all of you who have stayed along for 100 posts.

Lisa Morales, Realtor, Accredited Staging Professional 508-221-2286


How Long Does it Take to Sell a $2.75 million Home?

June 6, 2009

c. T. French

c. T. French

18 days in a bidding war. This property in Brewster was snapped up. The last sale was in 2006 for $2.2 million. Not a special house, but a special location. Location, condition, price. You need two of the three which are in your control.

So how is the Cape market? Fantastic. In the past 14 days, 301 properties have come on the market at a maximum price of $6.2 million, 125 have sold with a maximum price of $3.35 million, and 216 have gone under contract. Demand is outstripping supply, and we know that that necessarily means increasing prices.

The arts and culture scene is warming with the weather. Don’t miss a satellite live performance of Phedre with Helen Mirren in London at Cape Cinema in Dennis on June 25.

As always, view property at my website and call me at 508.221.2286 with any questions. Happy shopping from your Cape Cod REALTOR!

Keep On Giving

May 13, 2009

As promised, I am continuing to give 2% of net commissions to Housing Assistance Corporation. What can you do?

Market Round-Up for Friday the 13th. Half-price House!

March 13, 2009
Seagull Beach, Yarmouth

Seagull Beach, Yarmouth

Would you like a high end home at half price? Continuing the theme from last week’s “Perseverence Pays,” a lucky buyer now owns 60 Captain Linnell Rd. in Orleans for $500,000 less than the original asking price of $ 1,295,000.00. It is near Skaket Beach with marsh views and closed at $795,000 after 291 days on the market. Astounding. 72 Windward Passage in North Chatham has sold for $600,000.00, traveling down from $699,900 in only 119 days. A relatively quick sale. There were also three quick, low end condo sales reported today. So when you hear that nothing in the middle is moving, here are two that did, although the Captail Linnell wins this week’s wildly overpriced listing award that actually sold, albeit at nearly half its opening bid. *Data CCIAOR /MLS

A Trip to Crowe’s Pasture: Shhh, it’s a Secret!

February 20, 2009

This gorgeous area is adjacent to 41 Stillman Kelley Road, available now for $ 1,420,000.00. Gorgeous new construction! But please keep Crowe’s Pasture a secret, we don’t tell the tourists.

Merry Christmas from Cape Cod

December 25, 2008

December Snow

December Snow

Best wishes for peace wherever you may be. Prosperity and love, joy and health in your home and family. Best, Lisa Morales

Baby It’s Cold Outside: Is the Market So Cool?

December 8, 2008

Sea Street Beach, East Dennis

Sea Street Beach, East Dennis

Holiday time on the Cape is special, with decorated lobster traps and fishing boats. Those of us still here band together for warmth and fellowship. And home buyers that brave the winds are serious buyers, seeking the promised deals. I have to say, while prices are off from last year and again from the year before, there are few “steals” to be had. Homeowners that don’t have to sell are witholding from the market for perceived better days. Expect FAIR prices, with interest rates in your favor and a wide variety of inventory. Working with an experienced and knowledgable Buyer’s Agent you can seek out the property that best fits your needs. Don’t wait: mid-January everyone’s thoughts turn to volleyball on the beach and the competition will be stiff. Homes under $300,000 are still moving fairly well, but not near the water. The first time owner program I’ve written about is terrific, and that means anyone not owning for three years. Call me for details. The income ceilings are generous. So the market Cape-wide is warm, with loads of opportunity. Come down for the Dennis Christmas Stroll December 14 and I’ll show you some great properties when you finish your free hot dogs and cookies!

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