condominiums: Cape Condo Market Leveling Off - 10/15/08 01:10 PM
In July I posted the statistics that demonstrated the current health of the Condominium market in Falmouth, MA (Cape Cod). Here is an update of the same statistics:
                                                                                          July                  October
Units on the market                                                       55                       55 Average sales per month                                               3.7                      3.4 Our absorption rate                                                     15.3                    16.2 (The number of months that it would take for all condos presently on the market to be sold) A balanced market is around 5 months. This is down from 18 months in May.)
Sales % of original list price                                          82.3%                   85.3% Sales % of list price (at time of … (2 comments)

condominiums: Condo Websites - 09/30/08 01:49 PM
I have started taking the Michael Russer Internet Dominance program and am interested in seeing some good websites that focus specifically on condos. I am a second year agent on Cape Cod and have discovered that many agents here prefer to specialize in the second home market because of the higher sales prices. Personally, I think that many empty nesters and first time home buyers are prime candidates for condos and they are not getting the service they need. If you have a website (or know of one) that is successful in your area, please let me know. I would love to … (7 comments)

condominiums: Moving...A Refresher for Realtors - 07/18/08 02:36 AM
Well, my wife and I have just downsized and moved all our earthly belongings (those that we wanted and the kids did not) from Springfield, MA to Falmouth, MA. Even though we had movers do the bulk of the heavy work, the two or us are exhausted and we are now living with boxes and a cellar that you have to manuever through sideways.
When we congratulate our buyers at the closing and wish them well, we sometimes forget what lies ahead. Maybe realtors should move every so often just so we can keep in touch with what our clients are experiencing.
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condominiums: A Little Venting About Top Producer - 07/10/08 11:30 PM
It's a good thing that I did not write this entry yesterday afternoon. I'm much more rational this morning than I would have been.
Last fall I purchased Top Producer 7I at the NAR convention in Las Vegas. It is a very powerful tool but I have found it to be extremely hard to learn and the training programs to be marginal at best.
An on-going frustration has been the fact that the system seems to "freeze" once or twice a day, forcing me to repeat entries. It also seems to react slowly and there are too many times that I sit and … (12 comments)

condominiums: I Hate It When This Happens! - 07/10/08 12:04 AM
Maybe it's just a sign of the times.
A condo that I had under agreement became available again yesterday when the "pre-approved" buyer was not able to get financing. With mortgage providers crossing every "t" and dotting every "i," every little blemish (even ancient ones) on a person's credit report must be resolved. The lesson for me from this experience: do not accept a pre-approval letter with any contingencies.
As a result, a nice 2 BR, 2 bath townhouse in Falmouth is once again available. Check it out at www.20bwoodview.com. It would be great as a summer/weekend reteat or as a year-round … (8 comments)

condominiums: "What's included in the condo fee?" - 07/09/08 12:36 AM
The monthly condo fee is often a stumbling block for buyers considering the purchase of their first condo. In the current market, where the high inventory of single family homes has lowered prices so that buyers have the option of choosing between a condo and a house, they tend to see the condo fee as a "savings" if they buy the house.
This could not be futher from the truth. Everything that is included in the condo fee is usually an expense that they would have with a single family home or they would have to do the work themselves. Using FalmouthPort, … (3 comments)

condominiums: 2008 Condo Sales in Falmouth, MA (Cape Cod) - 07/06/08 06:02 AM
Here are the statistics for condo sales in Falmouth, MA on Cape Cod. I would be curious to know how these compare with sales in your community.
There are 55 units on the market today (July 5, 2008). We have been averaging 3.7 sales per month for the past six months. Our absorption rate (the amount of time that it would take for all condos presently on the market to be sold) is now at 15.3 months. A balanced market is around 5 months. This is down from 18 months in May. Condominiums are selling for 82.3% of their original list … (2 comments)

condominiums: Great Deals - 06/29/08 01:30 AM
It's Sunday morning and the weather is gorgeous here on Cape Cod. After an early morning church service, my wife and I went to a listing of mine that a young couple from the west coast will be closing on Monday morning. We vacuumed and did some light weeding so it would look nice for them (the seller lives in Texas). As we were looking the house over, my wife commented that they got a great deal on the house and she wondered whether they would realize it.
I think that they do know that they got a lot of house that … (5 comments)

condominiums: Summer Community Calendar is Filling Up! - 05/19/08 07:35 AM
A sure sign that summer is coming is when the community calendar on the Falmouth Chamber of Commerce's website starts to fill up. In addition to the fact that Falmouth has more miles of shoreline than any other town on Cape Cod, the wide variety of daily activities and special events make it an incredible place to vacation or own property.
Check the following link to see the schedule as it stands today:
http://www.falmouthchamber.com/more/calendar/local

It won't be long before this pastoral scene at Old Silver Beach in North Falmouth is once again playing host to people from far and wide … (1 comments)

condominiums: What is happening with the Condo market in Falmouth? - 05/12/08 10:52 AM
There are 60 units on the market today (May 12, 2008). We have been averaging 3.3 sales per month for the past six months. Our absorption rate (the amount of time that it would take for all condos presently on the market to be sold) is now at 18 months. Since a balanced market is around 5 months, this strongly favors buyers. Condominiums are selling for 86.7% of their original list price. Condominiums are selling for 92.14% of the list price at the time of sale. Buyers are more demanding the longer a unit is on the market.  Here are some … (1 comments)

condominiums: Back on Track - 05/10/08 05:08 AM
Well, I have not been a very good member of the Active Rain community lately. Between a very busy spring real estate season on Cape Cod and renovations on my house, the time for communicating with fellow real estate professionals has been limited. The good news is two-fold: There have been a large number of buyers looking for property, and the work on the house is done.
The buyers who are out looking are looking for bargains, and in many cases, they are getting them. A majority of sellers have come to the realization that if they want to "move on," … (3 comments)

condominiums: Are You Thinking About a Cape Cod Vacation? - 04/19/08 09:08 AM
The beautiful weather today is a sure sign that summer really is going to come this year so I thought that I would let you know a little about my town: Falmouth.
Falmouth is on the upper Cape and has the distinction of having the most miles of shoreline of any town of the Cape. It consists of numerous "villages," each with its own distinctive atmosphere and feel. The Chamber of Commerce has a comprehensive site that includes all kinds of information for our out-of-town guests. This link will bring you right to the tourism page:
http://www.falmouthchamber.com/travel/vacation.php?PHPSESSID=ae1986a92f348ac4ebd54e4d1905f990
If you are planning to come to town … (0 comments)

condominiums: Any experience with www.homes.com? - 04/19/08 08:34 AM
I received a sales phone call yesterday from a representative of http://www.homes.com/which was a little more high pressure than I respond favorably to. The pitch is that if you go on Google and type a town's name and state followed by "homes for sale," their website comes up as the #1 non-paid listing.
The salesperson got my name and phone number from Active Rain. He knew that I was interested in improving the positioning of my personal site on the search engines and used that as an "obvious reason" that I should subscribe th their site.
I have tried it with several towns … (8 comments)

condominiums: Cape Cod 3-Year Days on Market Report - 04/01/08 10:09 PM
Recently I was asked to research the days on market history for 2005-2006-2007 in selected zip codes on Cape Cod. The results should be of no surprise to anyone. In every case, the number of days on the market has increased. The one stat that may surprise some local observers is that the zip code with the least number of days on market is Buzzards Bay (92) while some of the more exclusive areas (Woods Hole and West Barnstable) are the highest. The overall message, however, is the same: houses are staying on the market longer.
 
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condominiums: A Day for Families and New Beginnings - 03/23/08 01:33 AM
Imagine, it is Sunday and I am not holding an open house!
Easter Sunday is a very special day for my family and me. We have returned from church and are getting ready to head to our son's house for brunch. Our kids and their kids will be there. Then, it's off to my sister's (while our kids go visit their in-laws) to see my siblings and various members of their families. We'll end the day with my mother-in-law (my parents and father-in-law have passed on) and then make our way back to Cape Cod.
Needless to say, Easter for me is a … (0 comments)

condominiums: March 11's Fed Action Could Help Home Crisis - 03/11/08 11:49 PM
Ok. I admit that I do not know much about the stock market and the circumstances to make it go up or down. So when one of my clients told me yesterday about the great move the FED made eariler in the day, I listened and then set out to learn what it all means. The bottom line is that if it works, it should make it easier for our clients to get mortgages.
After searching for a while, the article at the link below gave me the basic information I was looking for so I thought I'd put it here in … (5 comments)

condominiums: Open Houses and Virtual Offices - 03/08/08 11:03 PM
At both the NAR and Century21 Conventions numerous speakers referred to open houses as not productive. Most felt that an open house early in the listing was effective, but other that that, they were good for beginning agents to get leads but not effective in selling homes. I agree with that assessment, but as a second year agent, still find them helpful.
Now that spring is almost here on Cape Cod and the number of buyers has increased, I am experimenting with a type of virtual office/open house. If I am not scheduled for up-time at the office and do not have … (8 comments)

condominiums: What is Happening in Your Market? - 03/06/08 01:47 PM
I am just curious to find out whether the surprising increase in activity on Cape Cod is a trend that is being experienced in other markets or whether it is more related to the approach of spring than the incentives that have been put in place. A year ago at this time, activity was expremely slow on the Cape. This year every FT agent in our office has been out straight.
The largest area of activity has been with first-time home buyers (under $300,000), but other price ranges have also started to come to life.
What's happening where you are? 
 
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condominiums: Home Office Printer Recommendations Needed - 03/03/08 11:01 PM
We are having problems with our home office printer in that it does not pull envelopes consistently. We have Top Producer and are not able to take full advantage of it because the envelope printing process has to be watched almost constantly. We have a Dell 944 and are looking for either (1) tips on getting the printer to work, or (2) recommendations on printers that do work effectlively with envelopes. Thanks. … (16 comments)

condominiums: Back to the Real World - 03/02/08 02:31 PM
Well, the Century21 International Convention was everything that it was supposed to be: a chance to get away, to network, and to learn. The convention also provided several opportunities to honor Century21's top producers from around the United States and the world. As a literal parade of agents and teams walked across the stage and accepted recognition from the almost 4,000 people in attendance, it was very obvious that many people are doing extremely well in spite of the slowing market. Everyone of them stressed a positive attitude, hard work, and "doing the right thing" as the "secrets" of their success. We've all heard … (4 comments)