Location, Location! Fantastic views of both the bay,lighthouses,and monument. In a prime West End location in the well managed Jones Locker complex. Totally renovated one bedroom, one bath unit. First floor contains bedroom and updated bath, bedroom builtins, flat screen TV..Upstairs features a spacious living area with designer space saving kitchen from granite counters, wood floors, italian custom furniture, raised ceilings,and an exclusive deck for entertaining and relaxation enjoying the incredible views.Expansive common area deck for sunning and water access for swimming and beach walking. Common use laundry on site, and pet allowed for owners, and low common charges.Comes furnished minus artwork..Dont pass on this great opportunity to own in the West End with million dollar views on the water including parking..www45Commercial
In the adjusting economy, real estate is still a great buy here on the Outer Cape. Our local market has encountered price adjustments, but no where near the national level you are reading about in the papers. There is nothing that compares to this picturesque fishing village nestled against the Cape Cod National Seashore, colorful nightlife, and terrific restaurants to encourage visitors from everywhere!
Condo and home values have been affected by the current economic climate, but the downward movement in values has slowed due to the finite amount of land and the uniqueness of the geographic location of Provincetown. Our sales have slowed, but we see a shift between those homeowners wishing to sell their homes or condos, and those interested in sitting on them. Instead of location, location, location now it's become price, value, and then location. This is a buyer's market, and there are sellers motivated to move on with their life. While our first quarter sales were quiet due to the testing of the confidence levels in spending in the marketplace, those properties that sold provided some great values to buyers. Here are a few statistics on the local market on the outer cape.
Provincetown
.. 74 studio and one bedroom units starting from $169,000
.. 67 two bedroom units starting from $210,000
.. 15 three bedroom units starting from $299,000
.. 20 Single family homes starting at $470,000
Truro
.. 27 studio and one bedroom units starting from $159,000
.. 21 two bedroom units starting at $189,000
.. 2 three bedroom units starting at $499,000
.. 60 single family homes starting at $399,000
Explore the possibility of owning real estate in Provincetown, Truro, or the Outer Cape. With mortgage rates at historic lows, and buyer's being in the driver's seat in this current market before it turns around, your dream could become a reality. Provincetown is all about lifestyle...Feel free to call me on my cell anytime at 203-858-8940.
Sales are picking up in markets where prices have declined, but the business is different than it was before the bubble burst, observers say.
The housing market in deflated markets--like Arizona, California, Florida, and Nebraska--are beginning to show signs of a rebound. Analysts say that prices have fallen to the point that those with average salaries can afford to buy once again.
"The buyers are returning," says Lawrence Yun, National Association of Realtors chief economist. "And in such a strong way that, now, we are hearing in some cases there is multiple bidding, which hints that maybe pricing is reaching a bottom point. But inventory remains high."
In California's San Joaquin County, sales in September and October reached sales levels about equal to business at the height of the boom in 2005, says DataQuick, which provides property data.
But new buyers are primarily first-timers and investors looking to cash in. Local practitioners say the buyers are primarily local residents who have cash to spend.
"It's the couple down the street that has a nice nest egg and who wants to put it into something that will give them a good return," says Bev Marlow, head of the Central Valley Association of REALTORS®.
Source: The Christian Science Monitor, Ben Arnoldy (12/16/08)
Yes, it is indeed a nervous time for many of us as REALTORS®, as well as for our buyers and sellers. More anxiety is being expressed now by the media, and our clients, than has been expressed during any presidential election period in recent memory.
It is too early to tell what the effects of the economic bailout might be on the national economy as a whole, but what we do know is that current interest rates are good, and that local banks do have capital and are lending to qualified buyers. Furthermore, sellers do want to sell, and home prices have balanced and adjusted from the peaks experienced a few years ago.
We also all know that there are many great reasons to live, work, and to enjoy life on the Cape, Nantucket, and Martha's Vineyard. We're an international resort and second home destination, and this past summer, we experienced a very strong tourist season. Our second 'shoulder' tourist season is here, and people continue visiting our beautiful peninsula and islands to enjoy the many harvest festivals, scallop festivals, cranberry festivals, farmers markets, seaside & harbor festivals, arts exhibitions, and more. These all help to create our uniquely high quality of life that we enjoy on the Cape & Islands.
More than ever, we and our clients can enjoy our homes, whether our primary or secondary, as shelters - financial and otherwise. Where you invest matters, and Cape Cod, Nantucket, and Martha's Vineyard are finite: no more is being made!
Written by Jamie Regan Cape Cod and Islands Association of Realtor
-Clear away littler, bikes, trash cans, gardening equipment and put in proper place
-Keep the parking space clear, cut the lawn, and remove weeds from walkways
-Add fresh mulch, trim shrubs, and remove dead vegetation
-Repair/replace missing roofing or flashing, repair foundation cracks and wood rot,
replace broken windows, clean all windows, and repair broken fencing or gates
-Plant seasonal flowers in gardens or planters, clean door mat, organize garden
furniture, repair bent of broken screens, and ensure door locks work properly
-Remove dead or diseased plants around your yard
Inside the House
-Ensure doors, door frames, and walls are free of fingerprints or smudges, repair squeaky floorboards and cracked tile, eliminate visible extension cords, clean all wall switch light plate covers, and as well, repair any chipped plaster walls or corners
-Eliminate animal, cooking, smoke, or damp odors inside house
-Remove oversized furniture if possible which can make a room look small
-Clean and polish wood flooring, and replace soiled and stained carpet
-Reduce half of the contents in closets, and remove excess from home
-Remove most personal photos, family momentos, and personal items from the
house. Keep a few magazines and newspapers in a small rack, and box the rest for
future reading in your new home
-Store excess toys in box's..major distraction if they do not have children
-Paint rooms in neutral colors, open curtains, and clean shades..maximize light
Kitchen and Bathrooms
-Clear off counter tops, clean all appliances and visible vents, repair leaking items
-Organize cupboards, clean exterior surfaces and hardware on cupboard doors
-Clean any stains on countertops, repair chips or cracks, and organize drawers
Home buyers acting on lower prices
Existing home sales rose from the first quarter in 13 states, largely from buyers responding to discounted home prices according to the National Association of realtors.
Lawrence Yun, NAR chief economist said a clear cause and effect response has developed in the housing market. Home price conditions reflect comparisons from 12 months ago. Prices have fallen sharply and quickly in very distressed markets, but most or all of the price declines may have already occured as buyers are already returning to these markets. The momentum of buying is likely to continue in light of the housing stimulus package recently enacted. About 2.5 million first time buyers are expected to take advantage of the $7500.00 tax credit between now and the middle of the year.
Regions...In the second quarter from a year ago, each of the four regions experienced varied downward adjustment levels. The Northeast 9.6%, Midwest 0.9%, South 4.1%,and the West was hit the hardest with a 17.4% decline.
Former Federal Reserve Chair Alan Greenspan, in an interview with the Wall Street Journal says he expects U.S home prices to stabilize in the first half of 2009. Stable home prices will clarify the level of equity in homes, the ultimate collateral support for much of the financial world's mortgage backed securities. We won't really know the the market value of the asset side of the banking system's balance sheet -and hence bank's capital- until then.
Stuart Lewis Century 21 Shoreland 203-858-8940 Cell
Your home...How does it measure up? whether buying, selling, or refinancing, you always want to determine a fair price for your home. How do you know fair is fair?
A competitive market analysis is the most important tool for determining market value regardless which side of the table your sitting on. We know we want or need to sell our homes for, or want to be the highest sale in the complex or neighborhood when sitting at closing. Statistics of similiar properties tell the truth, the whole truth, and nothng but the truth when considering the correct price for buying or selling.
As the seller, do your homework before making your wish list. Look at recent selling home prices for condos or homes similiar to yours. Examine the length of time they were on the market before they sold. Know how many other homes are on the market in your price range to understand your competition. Pending sales and sales that occured within the last five to six months will show if their were price reductions to make it an incentive for the buyer to make a decision. Its complex, but important to know market activity before stepping foot into the arena to compete in selling your home. Buyers are everywhere..just remember they are looking for value, a good and fair deal, and they are doing their homework and research as you should be doing.
Events this week in P Town...Bear week is underway in full swing, R family cruises spends the day in town this Friday, July 18 aboard the Norwegian Dawn from 8am to 10pm, and the blues are biting everywhere with the stories about what got away!
Join us for next weeks events and upcoming theme weeks
While articles, news programs, and national discussions center around the severe decline in the real estate markets, locally we have felt our share of the pain, but pale in comparison to the levels nationally.
Provincetown, Truro, and Wellfleet bordered by either the Atlantic Ocean or Cape Cod Bay, and located within the Cape Cod National Seashore offer value that most investors appreciate due to its uniqueness and natural beauty. For generations, families have summered here, and continue the tradition proudly and with great emotion. Their investment is geared to last a lifetime, and traditions keep them coming from year to year. Whale watching, dolphin and seal activity along the shoreline, clamming, and the ever poplular striper or blue fish contests which start at sunrise and end at sunset. Enjoy the flavor..visit Cape Cod and search out Provincetown Real Estate, Truro, or Wellfleet properties.
Sales Prices (2008)
Highest
Lowest
Average
Provincetown
Single Family
$2,200,000
$380,000
$842,235
Condos
$820,000
$210,000
$400,581
Truro
Single Family
$1,250,000
$410,000
$704,690
Condos
$425,000
$279,000
$350,088
Wellfleet
Single Family
$1,037,500
$321,000
$614,764
Condos
$655,000
$244,000
$428,500
Provincetown Real Estate, Truro and Welfleet Real Estate
With global recognition of oysters, and everyone's love or hate relationship with these little shell creatures, they are the talk of the area here on the outer cape. Tastes vary according to the location within the Wellfleet harbor due to a multitude of factors. Tide current fluctuations, debth of water, location within the harbor as far as salt flats and tidal pools, mix of salt and fresh water tides, exposure to air during either night or daytime low tides, and the list goes on. The range in taste alters from the very sweet, to the mild, and locally the oyster lovers apprecate them all! Visit Wellfleet and determine for yourself why these little shell creatures are the talk of the town. Even better..visit and enjoy the oyster festival in October, and mark it as a tradition in your seafood lovers black book!
With its weekly tourism events planned for the Summer into the late Fall, the season kicks off not on with 4th of July celebrations, in addition to Summer camp with David Flowers..see www.davidflowers.com for the circuit boy week of parties, dances, sunset cruises, and pier dancing overlooking Cape Cod Bay. Its here, and officially underway, and Provincetown shifts to Bear week for next weeks theme.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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