Cape Cod Market conditions for late 2011

Our Cape Cod market continues to show strength in the last 2 quarters, as Buyers overcame concerns about economy and snapped up the best available properties. Cape Cod sales volume in 2011 is down about 10% compared to 2010 and median price dropped 2% for the same period. This is reasonable for the current situation, and is good considering 2010 sales were buoyed by the government tax incentives. 2011 has had no artificial buying stimuli, so the sales this year have been truly free market.

Many Buyers and Sellers recognize that the ‘bottom’ is here-especially when calculating the cost to purchase-with interest rates at historic lows. The Second home/vacation buyers seem to be aware of this and have made a significant contribution to real estate sales this year. We have seen significant interest in beach properties, village properties in Cotuit, Osterville Centerville, and Marstons Mills

Pricing and preparing a home for sale has never been more crucial-Buyers will buy the ‘good’ properties-priced well and prepped for showing. Sellers realize that condition sells and pricing to the market is key to success.

Consumer confidence appears to be growing slowly, and this will likely increase the desire to make the investments that have been postponed due to uncertainty and negative news.

2012 should be a year of gradual improvement in the Cape Cod real estate market, as interest rates should remain low and prices for properties will have hit bottom and may start to rise by Mid Year as demand reduces the inventory backlog. We don’t expect prices to rise much in the next year, but more desirable locations and appropriately marketed properties could exceed this modest expectation.z

Until you can return to the Cape (or even better buy your vacation home here) enjoy this scene overlooking Nauset Marsh from Fort Hill area of Cape Cod National Seashore on a glorious November day

The 4th of July is the real start of summer on Cape Cod. We sometimes have cool cloudy weather well into June, so we anxiously await Julys more dependable summer weather. It was here in full measure this past weekend.

Fireworks courtesy of Oyster Harbors Club over Cotuit Bay on Saturday night-we watched from our boat in the harbor and it was spectacular. Cotuit beaches were full of observers, and because it is not publicized, there are few traffic issues and many view spots. Sunday was a play day for many-in the boat, on the beach, loads of year round and summer people hiking, biking and just hanging around Cotuit village and Loop Beach in Cotuit. If you want a total escape from any crowds on July 4, venture to Marstons Mills-just across Rt. 28-where you live enjoying the summer, but not impacted by the summer rush. Loaded with freshwater swimming and boating lakes, young families especially enjoy these beaches-typically uncrowded. See photos below-beachcombing on Sampson's Island- Cotuit, and sailing on Hamblin's Pond, Marstons Mills

If you have ever dreamed of owning a primary or second home or vacation home on Cape Cod, the opportunities have never been better.

Deb Schilling

As we enter the second half of 2011, the real estate forecast is partly  cloudy!  I have had a great first 6 months of 2011, and my Sellers and Buyers seem pleased to buy or sell their Cape Cod property.

We look ahead and some economic signs are troubling, but the activity here on Cape Cod seems to not always be directly affected as other areas of the country are. Second home buyers are purchasing properties for personal use, and/or for eventual retirement. There seems to be a trend toward down-sizing, too, as many of the larger homes remain unsold. The First Quarter 2011 statistics for Cape Cod and the Islands shows the number of sales down substantially by 41%, as compared to 2010, and yet the median price rose by 5.7%. This doesn’t mean prices are rising, yet it does show that there are more expensive houses selling as compared to the vast number of foreclosures that pulled the median prices down in 2010 (and created the larger number of sales in 2010-combined with the tax credit incentives).

I continue to work full time as an experienced real estate professional, and am ready to help you or your referrals with buying or selling decisions. Enjoy the phot below, showing one of only 2 bridges that access Cape Cod -we are an island unto ourselves!

The Marstons Mills Public Library Board President, Deborah Schilling, together with the Trustees and staff of the library, hosted a very successful 7^th annual ‘Welcome Spring’ wine and beer tasting and silent auction last night-May 5. A Cinco de Mayo theme lent an air of fun to the event, held at the Marstons Mills Public Library on Main Street, Marstons Mills.

Over 70 were in attendance, and were served a variety of hot and cold Mexican style foods, complimentary Beer tasting from Cape Cod Beer-Cape Cod's own not-so-micro brewery. A real treat and surprise was the Beer Margarita-WOW! Beth Marcus, owner of Cape Cod Beer, said that recipe and many others are on their website www.CapeCodBeer.com I particularly enjoyed the Summer Ale-incredibly unique, with a clove flavor I really enjoyed. This from a 'fallen away' beer drinker! Also a Wine Tasting for wine afficiandos was enjoyed. A great night out to benefit my Marstons Mills non profit of choice.

The estimated $4000 raised will help with operational expenses of the library. For more information on the Library, its programs and staff, or to donate, go to www.mmpl.org

We are always looking for good volunteers, and trustee candidates to support the wide ranging services this library offers. We call it "The Little Library that makes a BIG difference". If you feel you might like to explore options to volunteer or serve on a committee, call me or the Library Director-Renee Voorhees.

Deborah Schilling