Rise and shine! I got up with the birds on Friday to attend a Breakfast meeting with excellent speakers offering perspective on Cape Cod Economic and Housing Outlook. Of course, it was important to incorporate big picture economics, as that affects Cape Cod. The forecast is Sun with Clouds-no surprise to those of us who see glimmers of positive signs, dimmed by realities of a long slow recovery.

Cape Cod economy is largely Real Estate based-not as much in new building, but in remodelling, and ancillary services needed by a large population of Vacation Home owners and retirees. Our jobs are largely generated by small (very small) businesses-again substantially in the housing related sector. We have some manufacturing jobs, some High Tech, substantial Health Care related positions and seasonal Tourism related jobs, but our economy is weak right now, in terms of job growth and local consumer confidence.

That said, the second home/retirement home Buyers, as well as a few-mostly local-investors are taking advantage of low prices to jump into Cape Cod Real Estate market.This is beginning to move up the price point from just the low end selling well ($250,000 and below) to up to $500,000 and higher properties beginning to have serious action.

Most speakers at the Breakfast felt our Real Estate is bouncing along the bottom, and likely to do this for some time to come. The factors that keep prices from rising with demand are the weak job market (little growth-especially through Spring 2010 locally at minimum), limited availability of financing for new start up businesses (who are the ones most likely to lead our economic recovery here-as in the past), high cost and availability of 'Jumbo' mortgages (which so many of our properties require).

We are likely, it is said, to see a Recovery in the Shape of an "L" with wiggles in the horizontal leg. We fell off sharply from 2008, and appear to have bottomed, and there are likely to be occasional lifts and positive signs, only to be brought back down until there is solid and sustained evidence of recovery. Then lending will resume-hopefully in a more reasoned way than when loans were provided with no thought of how they would be repaid, or the clamping down that virtually stopped lending in its tracks, except for Govemernment purchased products.

Realtors are said to be the most optimistic profession, and while that is true, in 25 years of my involvement in Real Estate, there positive outcomes in every market-there are always Sellers who need to sell, and there are always buyers who need or want to buy. If the volume and prices are 'off' then the competition is more fierce, and as a Realtor, my job always has been and will be to offer the most professional advice to help my clients achieve the goals they set. Sometimes that means only offering advice until the market changes, sometimes it involves helping the clients through a difficult buying or selling process-it is all part of what I do!

Deb

Buying a property on Cape Cod in the Fall is an adventure. Whether it is looking during a 3 day Nor'Easter, with torrential downpours and 40+ MPH winds, we are intrepid. It is an ill wind that blows no good, and after a Nor'Easter, we often get a beautiful crisp clear stretch. I love the Autumn in New England for that reason.I was on my way into the office today at 7:30 am and as I drove by a favorite spot in Marstons Mills (where my RE/MAX office is), a lovely sunrise was lifting a haze off Mill Pond, and shining on the foliage that is turning next to the pond.

What-foliage on Cape Cod? Absolutely, although not as intense and prolific as Northern New England, but we don't compete with them, because ours happens later and is different. The swamp Maples turn red and orange, and the cranberry bogs' vines turn burgundy after harvest, but even more common (and later when the rest of New England is already bare and brown), our Oak trees change to a rich deep wine color that simply glows-especially late in the afternoon

Does it sound like I really love living on Cape Cod and making my living selling Cape Cod Real Estate? You bet I do! I have been in this business since 1985, as a full time Real Estate professional, and I enjoy sharing all my favorite secrets with Buyers-even the ones who grew up here! This brings value to my Sellers, too, as my enthusiasm and energy is part of any successful real estate transaction. No one buys a house on Logic alone-the emotional component is critical, and Cape Cod makes that part of my job easy.

Enjoy Each and every day

Deb

Selling Cape Cod Real Estate One Yard at a Time

 Enjoy this Cape Cod waterfront scene-there are thousands more on our freshwater ponds

 and saltwater beaches and estuaries

Third Quarter and September 2009 Market report

Preliminary summary using sources (see below) there is much positive news amidst the negative. Although prices continue to drop (down 11.1% as compared to Sept. 08 Median), prices are not falling as much month over month, leading us to conclude we may be bouncing 'along the bottom.'

With Second Home and Retirement Property Buyers making a strong appearance (as Buyers-not just shoppers), and the positive impact of the First Time Buyer tax credit, it is safe to say that there is very little inventory in the below $350,000 price range in my primary Market area of the Town of Barnstable (see below) especially outside of Hyannis.

I expect to see good buying activity through Thanksgiving, as this season is often Opportunity Time in any market. I was contacted for an article in Smart Money in 1997, and they did an article about buying Vacation homes, featuring a Buyer Client of mine. The article's subject was 'Second Home News-in the Market for a Summer Retreat? Think about Buying Now', and it cited my client's purchase of a waterfront property in Cotuit (on Cape Cod), and his successful negotiations which concluded in October. 

For Sellers and Buyers, Fall is a great time. Properties sell for the price the market commands, and not for what Buyers 'hope' to pay, or what Sellers 'hope' to gain. Negotiations may be intense, and if all parties are truly willing, then I prepare my clients to treat every negotiation as an opportunity for success. 

Now-lighten up-enjoy some fall beauty from here on Cape Cod-a cranberry bog adjacent to one of my listings in Marstons Mills in Mid October

Sources: Barnstable County Registry of Deeds (courtesy of Barnstable Patriot newspaper report), and Cape Cod and Islands (preliminary Sept and YTD figures) and Cape Cod Times newspaper report

Town of Barnstable villages: Barnstable village,Centerville, Cotuit, Hyannis,Marstons Mills, Osterville, West Barnstable 

Ah-h-h Mid October-a favorite time of year in New England and especially on Cape Cod. I had a business trip and a family visit to schedule in September, and the new technology available made it seamless. I was able to keep Sellers and Buyers informed of new listings, market conditions, and even negotiated several Cape Cod Real Estate sales-all with the help of on-the-road access to email, cell phone and wireless connections for the laptop.

I was able to spend my free time wisely, especially due to a 3 hour time difference in California. Even though I was not in my office physically, I was available to conduct business effectively-truly an amazing world. Here I am with the Golden Gate Bridge in the background, and that smile is because I had just successfully negotiated an attractive offer for my clients on Cape Cod!