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Selling On Cape Cod

When is the right time to sell your home?

Have you been tossing and turning at night wrestling with the decision to sell your home?  When is the right time to sell?  Am I going to regret not selling my home now?  Will the housing market slip back towards favoring buyers?  Deciding to sell your home can be a serious decision but don't be discouraged; keep these points in mind and you will be on the right track to making a good decision about whether to sell your home.

 

Equity

    Put simply, equity is how much of your home you actually own.  It is a funny thing to think about but mortgages, liens, home equity loans etc... all mean that something other than you (usually a bank) have an ownership interest in your home.  If you sell, all of these mortgages and liens need to be paid before you.  Getting a comparative market analysis from a real estate agent gives you an idea of the value of your home in the current market. Then you can calculate how much equity remains in your house for you to take away. 

 

Equity is not Net

    Unfortunately, your net profit from the sale of your home is not, simply put, net = sale price - mortgage.  Just to list a few of the often overlooked expenses for which sellers are responsible: Attorney's fees, broker's fees, title V septic inspections, and sales tax stamps all subtract from the overall proceeds of the sale.

 

 

 

Trends in the Market

    Everyone loves to predict the future so why should prospective sellers be any different?  Familiarizing yourself with the local market data as well as talking to a real estate agent about comparing your home to others in the area (comparative market analysis) will help you decide if now is a good time for you to sell.

 

 

Personal Needs

    One factor that should never be overlooked is simple reality.  When you (you have time) to sit down and rationally evaluate your current life situation, often the decision to sell or stay becomes more clear.  Are you expecting triplets and the one bedroom condominium suddenly seems like a closet?  Selling and upgrading is probably the right decision regardless of how much of the mortgage is paid off.  Are you tired of that old drab kitchen?  Perhaps new cabinets and fresh paint is all you need.

As always please contact us with any questions and put three decades of experience and two generations of tradition in your corner.

 

Spring Cleanup adds value to your home | Real Estate | Cape Cod

Maximize the Sale Price of Your Home this Spring

    Potential sellers always ask us about the best ways to maximize the sale price of their home.  Even before we begin the conversation we frequently see defeat in their eyes because they expect us to name big big ticket items like kitchens, roofs, or bathrooms.  While these can indeed help to maximize return we think these three low-cost projects are an excellent use of homeowner resources.  

1. Landscaping

    We understand, trying to maintain a yard on Cape Cod is asking a lot. Pitch pine needles and salt spray are not conducive to green and lush grass, but who says you have to have perfect grass to have curb appeal?  Using local plants that thrive on the Cape is a great way to improve the health of the local ecosystem as well as make your home feel like it fits into the landscape.  Check out the link here for more information on local species.  Furthermore simple clean-up tasks like edging and mulching your flowers, cutting your grass, and removing downed trees and branches all improve the look and feel of your home.

2. Wash and Paint

    Now don't get too excited, we understand that painting trim and siding is an expensive job for a professional and time consuming for the owner-enthusiast.  However peeling paint can be an immediate turn off to potential buyers so here is our recommendation - wash the house and touch-up the paint.  Washing doesn't have to involve a professional company - a garden hose and sturdy brush will clean much of what needs to be taken care of.  Rain splatters dirt around the foundation and shaded areas provide excellent habitat for mildew, moss, or lichen.  Pay special attention to removing mildew in corners and on or around gutters.   

  Painting can seem onerous as well but the good news is that it really isn't that bad.  Keeping up with flakes and chips every spring adds years to the life of a paint job and makes your home look well-tended and loved (which adds a lot of value).  Open a paint can (that matches the color please) and spend a few minutes a day walking around and retouching. 

3. Do That 'Honey-Do'

    All homeowner's have a project in the yard that makes them say,  'I really do need to get this done'.  Weeding paths, planting flower boxes, fixing broken fence rails, repairing screens or cracked glass, etc... stop procrastinating and do it already.  Those little projects are on your list and they will be on a buyer's as well.  No one wants something preventing the sale of their home, so take care of that nagging thing today.  

 

 

  One example is 9 Osborn Snow Drive, East Dennis.  While we all wish we could have such a spectacular luxury home we can still learn a lot from its neat and tidy planted gardens and ornamental plants that are BELOW the windows.

 

 

 

 

 

 

  Here is another wonderful home, 41 Deacon Court, Barnstable.  Notice the neatly kept crushed stone driveway, low plants and maintained paint.  

 

 

 

 

 

 

 

  Here is a beautiful example of a new listing coming soon to the market.  23 Millers Road South Dennis.  We choose it as our stellar example of a perfectly maintained Cape Ranch.  

 

 

 

 

CAPE COD SECOND HOME OWNERSHIP

Seasonal/Recreational/Occasional Use Homes also known as Second Homes

Have you ever wondered as you are driving around the Cape, how many homes are not primary residences?  It is a surprise to find out how different the percent of second homes is in the various towns.  Below are the percentages noted in the 2010 US Census Demographic Profile Data.      

  • Sandwich            13          
  • Bourne                20.6
  • Falmouth             32.3
  • Mashpee             34.5
  • Barnstable           22
  • Yarmouth             31
  • Dennis                 50.9
  • Brewster              39.6
  • Harwich               40.5
  • Chatham              52.9
  • Orleans                38
  • Eastham              55.8
  • Wellfleet               64
  • Truro                    64.6
  • Provincetown        52.8

SELLING A HOME?

 

 

Another winter is upon us.  If you are selling a home in winter the weather is both a challenge and an opportunity. The challenge is getting folks into the property safely.  The opportunity is being able to showcase a warm home during the cozy winter months. Keep safety first priority with the property free of snow and ice.  Cape Codders may be hardy but not to the point of walking through three feet of snow.   Holding an open house in winter with cookies baking and a fire blazing is the perfect way to entice buyers to love the home. 

 

Enjoy winter and the opportunity it presents. Be safe and check out this winter wonderland of a house just click on the photo below.

Appraisal Basics

Planning financing?

If you are planning on securing funding from a bank or other lending institution for the purchase of your home, that institution will require an appraisal by a third-party. This appraisal will be used to establish an independent opinion of the value of the home, which assures the bank that their loan is adequately secured.

 

Four levels of certification

Appraisers in Massachusetts arecertified at four levels by the Massachusetts Board of Registration of Real Estate Appraisers.

1. The first level is as a trainee. These appraisers operate under the supervision of a Certified Appraiser and cannot inspect a property without him or her present.

2. Licensed Appraisers can independently appraise any residential property up to $1,000,000, but cannot appraise homes of greater value without the supervision of a Certified Residential Appraisers.

3. Certified Residentialappraisers can appraise any residential property.

4. The final and highest level of certification is Certified General Appraiser. Since these appraisers are in high demand to appraise commercial property, they are rarely used to appraise residential property.

 

Appraisal vs. Comparative Market Analysis

Appraisers use a process very similar to a Realtors Comparative Market Analysis to arrive at a value for your home. They ideally look for three identical homes sold on the same day to use for their comparison -- this is clearly impossible, so they generally use comparable sales within similar areas, within the past year.

 

How we handle appraisals

If you list your property with us, we make sure to attend any bank appraisal of your home. While it is not necessary for the listing agent to attend the appraisal, we feel strongly that professional representation of the seller at the appraisal is a valuable means of advocating for our clients. We work as closely as possible with the appraiser to ensure that they are well-appraised of any significant factors which affect the value of the home, but which may not appear in the appraisers database of recent sales. For example, major town improvements to the neighborhood, recent improvements made to the home or property, or pending sales in the area are all significant factors which affect the value of your home, but which may not be readily available to the appraiser. We make sure that they are aware of these factors to ensure that the home is valued as accurately as possible. Furthermore, we only recommend lenders who we know use local and experienced appraisers. The choice of lender is yours to make, and the appraiser is hired by the lending institution, but we are always available to make recommendations or answer questions you may have.

 

Real Estate Short Sales

Pertinent short sale update

Due to the shoddy title work that was done in the previous few years, many title issues are surfacing that are taking an inordinate amount of time to resolve and may, in fact, not be resolvable. There has been much talk about new rules and regulations that are supposed to make short sale purchases more "user friendly". These rules are in place, but, they are not necessarily being adhered to by the Lenders involved. Therefore, it is still taking a lot of time to move deals along. Additionally, FHA rules are tightening up for Buyers and properties. It is harder to get a Buyer qualified and distressed properties are not as easy to finance as they were in the past.

In sum, while short sales are often priced attractively, they are not for the faint of heart. They should be approached only by Buyers who have financing in place, have a strong stomach and are patient. Good luck!

Orioles and Grape Jam

It is almost summer on Cape. The rhododendrons are flowering. The trees are all in full leaf. The weather is warming nicely and the birds have returned. And, those lovely Baltimore Orioles have arrived. If you would like to attract them, put some grape jam-not jelly-in a dish near your bird feeders and keep a wary eye. Amazingly, the orioles will find it and continue to come around as long as you provide them with the treat. And yes, those ubiquitous clowning chipmunks will find it and keep you entertained as well. If you are a nature lover dont miss out on our Weeks Pond property in Sandwich--a bird lover's delight. Nice open floor-plan with lots of windows and opportunities to view wildlife of all sorts. The Cape offers such wonderful opportunities come and enjoy.

Septic System Woes?

Fiancing now available

Has your septic system been giving you trouble or has it failed? Assistance to home owners is available. There is financial help with a 5% interest rate betterment loan through the Barnstable County Community Septic Management Loan Program. Loans are repayable over 20 years. They cover all costs directly associated with septic system upgrade. Given the fact that malfunctioning septic systems can be harmful to ourCape Cod environment, this programisperfect opportunity to comply withTitle V regulations that protect the health and well being of our environment.
Applications are available online for interested residents. For more information visit Barnstable County Septic Loan Program.

Cape Cod Tax Rates 2012

Knowyour real estate taxes

Knowing the tax ratesin townsin whichyou have interest in purchasing property is invaluable in calculating cost of ownership. The following is a listof the 2012individual towntax rates. These rates are used to calculate thetax cost per thousand dollars of assessment.Please note that these costs may not be all inclusive as some of the towns have additional taxes for fire districts and/or water districts. If you have any questions, please give us a whistle.

  1. Barnstable $8.42
  2. Bourne $9.12
  3. Brewster $7.44
  4. Chatham $4.45
  5. Dennis $5.88
  6. Eastham $6.35
  7. Falmouth $7.78
  8. Harwich $8.12
  9. Mashpee $8.96
  10. Orleans $5.91
  11. Provincetown $7.20
  12. Sandwich $12.74
  13. Truro $5.97
  14. Wellfleet $6.12
  15. Yarmouth $9.33

Getting ready to sell your home?

The first thing to do is to rid the house of unnecessary stuff. Even those of us who do not suffer from "hoarders syndrome" know that after a short period of time all the closets, basement and garages become full - often with items that are "too good to throw away but have no intrinsic value". Getting rid of years of collected items is a daunting task which requires muscle, equipment, patience and the capacity to disassociate oneself from one's belongings.

Downsizing or moving off Cape?

Time to clean up

Consider donating"hiddentreasures" thatcan beusefulto young people, folks that have fallen on hard times,or people whoare furnishingsummer cottages. Before going to the "dump" with your "junk" call the thrift shops associated withchurches, TheGoodwill, The Salvation Army and any other charitable groups. Often members of the charities will send people to pick up usable items as a convenience to the donor.
When contemplating a major move or downsizing it is a good idea, after selecting the items you definitely want to keep and donating what you can, tothen hire a company to conduct a yard sale for you. These people take the emotional distress out of the whole operation. They will get better prices for your belongings than you would on your own because they know what sells and for what price. It is far morepleasant to take a long ride and come back to a house that is clear of all stuff and receive a check from thecompany that conducts the sale. Your house will be ready to stagefor thesale.
Give us a whistle(Ed: 508-737-4080| Agnes: 508-776-4664) and wecan connect you to an estatesale company and/or clean up crew that is tailored to your specific needs.

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Client Testimonials

Dear Ed & Agnes, Thank you so much for your dedicated hard work in selling our parent's home (twice!!!).  We really appreciated your efforts. Sincerely,

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