Blog :: 2012
Real estate prognostications continue to be like hocus pocus. Depending on the whether the economic forecaster is an optimist or a pessimist; real estate prices are expected to go either up 1 % or down 2 % in the near future. However, what most everyone will agree to is the fact that the market is showing strong signs of having stabilized.
In fact, the spring market on Cape Cod was stronger than in the past few years. This can be attributed to the fact that Buyers are aware that prices are on the cusp of turning in an upward direction. The time for investing on the Cape is now. Savvy Buyers are aware of this fact and are making their moves.
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.
Great news for Cape Cod
The Cape is working its way out of thereal estate slump.
- The Barnstable County Register of Deeds reports that there was an almost nine percent increase in real estate sales in March of this year over March of last year.
- Inventory isselling with serious buyers active in the market.
- Interest rates remain attractive.
- The National Association of Realtors states that"sales of investment and vacation homes jumped in 2011, with the combined market share rising to the highest level since 2005".
Spring is here. We're happy to report that the Capereal estate market has heated up. We are seeing competitive bids on properties unlike the recent past. Now is the time to jump into the market to sell or to buy.Rates continue to be attractive. Plenty of properties from which to choose. If you have been thinking of owning a Cape Cod home, now is the time.
Don't wait....give us a whistle.
Thinking of buying property?
How is your credit scored?
The following factors are taken into consideration:
- 35% --payment history
- 30%--amount owed
- 15%--length of credit history
- 10%--new credit
- 10%--types of credit in use
For more information give us a whistle.
Fiancing now available
As the real estate market is poised to gradually recover, what is needed today for the many buyers who can't seem to jump into the market, is a very large dose of confidence. Confidence would alsohelp the brokers and agents who have been doing battle for a very long while.
We've got several things that appear to contradict a quick recovery, like the horrendous credit issues with appraisal standards that make your head spin. Add to that the general bad economic news that is constantly in the media--high unemployment, economic turnaround that is there or it isn't.
But--when you counter all the negativity and uncertaintyabout the election, we have very low interest rates and a plethora of houses to choose from. Prices could not be more attractive. We should be focusing on that news and get the word out--that'll inspire confidence and will get the market moving.
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.
- Barnstable $8.42
- Bourne $9.12
- Brewster $7.44
- Chatham $4.45
- Dennis $5.88
- Eastham $6.35
- Falmouth $7.78
- Harwich $8.12
- Mashpee $8.96
- Orleans $5.91
- Provincetown $7.20
- Sandwich $12.74
- Truro $5.97
- Wellfleet $6.12
- Yarmouth $9.33
Real Estate Forecast for 2012
National economists on average paint 2012 with cautious optimism given the fact that the volume of distress properties is dwindling, unemployment is down, and an inkling of consistent economic growth is evident. Because all real estate markets are driven by the local economy, it is important to look closer at particular areas to paint an accurate picture. The Cape Cod real estate market is no exception. We find:
- Inventory is shrinking--there were fewer properties for sale in December than November 2011.
- The number of sold properties is up-- in December 2011 13.2% more properties sold than in the previous month.
- The number of properties under contract increased by 36.3% in 2011 over 2010.
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