cottage: Association Insurance Holds Up Condo Closing - 12/12/13 01:11 AM
Notification from a local condominium complex's master insurance provider indicating that the 2014 premium was to be increased $57,000, prompted the Home Owner's Association to start looking for bids from other providers. Since the premium notice did not arrive until November, the association was forced to move quickly.
The problem that this has created for buyers and sellers is that no lender will accept an insurance certificate on a policy is due to expire within two months. As a result, a closing that was was scheduled to take place in early December 2013, has been pushed off until after the first of the year.
Since this is a … (0 comments)

cottage: Staging Helps Buyers to "See the House" - 07/21/10 12:16 AM
This well-maintained ranch home in the Great Harbors waterfront community in East Falmouth, MA has good curb appeal, but the when people entered the house, their attention was drawn to the furniture and a lifetime collection of items and not the house.
We brought in Jayne Pelosi of Renaissance Interior Design to help prepare the home for sale. Jayne spent two hours rearranging furniture, packing knicknacks, and coordinating the relocation of all unneeded items to the garage for storage.
The result was house that allows visitors to see the house and not the "stuff" even though she just worked with the owner's furniture. … (2 comments)

cottage: Falmouth Summer Fun - 07/18/10 01:56 AM
Summer in Falmouth is in full swing and there is plenty to do for everyone. Cape Cod is known for its beautiful beaches and outdoor activites including boating, hiking, biking, golf, surfing and almost anything else you can think of.
But there is also a myriad of other activities that provide fun for every member of the family. Theater, music, craft shows, lectures, antique shows, miniature golf, dining of all types, and special festivals. Over the next few weeks, we plan to sample some of these and will report on them here.
Every Monday night in Falmouth, an a capella male singing group … (0 comments)

cottage: Reliving American History on the Lexington Green - 04/19/10 02:47 AM
We were out of bed at 3:15 AM this morning so that we could arrive at the Lexington Green by 4:45 AM to see the reenactment of the Battle of Lexington. As we drove into Lexington under the cloak of darkness, we began to think that 4:45 AM may have been a bit too late. Thousands of people of all ages had arrived before us and thousands more were on their way. Some were carrying step ladders to insure their view of the green.
Fortunately we did get a front row standing spot (although an obstructed view spot - pine tree) and … (0 comments)

cottage: Patriot's Day...A Holiday in Massachusetts but Important to All Americans - 04/18/10 01:39 AM
Monday, April 19, 1775 marked the beginning of the American Revolution. The historical significance of the day sometimes gets lost in the excitement of the Boston Marathon, the Red Sox game, school vacation week, and just the start of nice spring weather.
The Battles of Lexington and Concord are reenacted every Patriot's Day and My wife Mary Beth and I will be spectator's at this year's 235th reenactment. It starts at 6:00 am on Lexington Green. We have read about the battles in the past but are looking forward to being there.
You can learn all about it at www.battleroad.org.
 
… (2 comments)

cottage: Falmouthport: Money in the Bank is a Great Thing - 10/30/09 09:39 AM

A maintenance reserve: What an idea!
In the midst of our country's major financial crisis and with daily news casts about both public and private credit debt, it is refreshing to see a condominium community that has wisely put money aside since its inception. So while other complexes defer projects due to a lack of funds, FalmouthPort in Falmouth, MA just goes on about its business.
Falmouthport is a waterfront condo community on Cape Cod. Since it was built in the late 1970's, the Association Board with its professional management company, have managed the property in a highly professional manner.
Three points need … (2 comments)

cottage: Lobster on the Lawn - 08/27/09 12:47 AM
Now that summer is winding down, it's time to do all those things that you wanted to do but somehow didn't get to. Although many of the summer activities will soon give way to special fall events, there is still time to take advantage of some summer activites.
Click here for information on Lobster on the Lawn Mondays in Falmouth, MA. There's still time.
… (6 comments)

cottage: An Overview of the 2009 Falmouth Condo Market (Through July 31) - 08/23/09 02:55 PM
                                                      Dec. 31, 2008     May 15, 2009     July 31, 2009
Units on the market                          56                         76                      68 Average sales per month                  4.5                         3                        4 Our absorption rate*                12.4 Months           25.3 Months    17 Months *Absorption Rate: 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.
Sales % of original list price                   85.3%            85.2%                  89.5% Sales % of list price (at time of sale)      92.7%            94.57%                94.1% Here are some statistics by price range: 
                               0-299,000        300,000-399,000    … (1 comments)

cottage: Downward Pressure on Prices Continues - 07/14/09 11:56 PM
The downward pressure on the sales prices of Cape Condos continues as the challenges of getting financing continue.
The very same condo that I mentioned in May had a new buyer and a new lender and fell apart again at the last minute. This time it was about the buyer's income. Needless to say, the bank (in this case Citizens Bank) had preapproved the buyer, received all the information requested in a timely manner, and gave no indication of a problem until the day of the final commitment when they issued a "declination letter."
Another condo in a very well managed, … (1 comments)

cottage: Condo Financing Faces New Challenge - 05/28/09 12:52 AM
We recently had the sale of a condo at Sea Oaks in Mashpee, MA fall apart over the condo associations refusal to answer four questions that required an opinion or judgement.
The mortgage provider had sent a form to the association's management company, American Properties Team of Woburn, MA. American Properties provided a comprehensive form that failed to answer four questions. Neither the lender or APT would budge.
There are several questions that I am attempting to get answered:
1. Can a condo be purchased with an FHA backed loan at a property managed  by APT or any association whose attorneys refuse … (1 comments)

cottage: Buyers Still in Control of Falmouth, MA (Cape Cod) Condo Market - 05/17/09 10:34 AM
An Overview of the 2009 Falmouth Condo Market (Through May 15)
                                                                  December 31, 2008        May 15, 2009
Units on the market                              56                                   76 Average sales per month                       4.5                                  3 Our absorption rate*                             12.4 Months                     25.3 Months *Absorption Rate: 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.
Sales % of original list price                   85.3%                              85.2% Sales % of list price (at time of sale)      92.7%                              94.57% Median Sales Price                              $339,950*                       $278,750* *The median sales price for the first 4.5 months of … (1 comments)

cottage: Get on Stage! It Really Works. - 04/06/09 03:00 PM

This one bedroom, free standing condo had been on the market for nearly a year. The sellers decided to enter into a short-term lease with a couple who was renovating their home as long as they could continue to market the property. The tenants moved in and tastefully decorated their temporary home. The next buyers who came in bought it!
Instant Convert
I became an instant convert. The current market certainly requires that homes be priced properly and effectively marketed, but staging seems to have a larger role than ever before. Statistics show that staging a home can increase the … (1 comments)

cottage: Winter Just Keeps on Giving - 03/02/09 10:35 AM
We had another winter storm today, and although we did not get the foot of snow that some off-Cape communities received, we got a mix of ice and snow that made the roads quite treacherous. The good thing about a day like today is that it creates some unplanned "free time" to get some nagging projects done.
So what project did I get done: I prepared my 2009 Boston Red Sox schedules for mailing. Even with a winter wonderland outside, the home opener is just 34 days, 17 hours, and 35 minutes away (as of this writing). There is hope!

… (2 comments)

cottage: 4 Great Reasons Ray Romano Would Buy a Condo on Cape Cod! - 02/27/09 12:53 PM
You're probably asking yourself, "why in the world would comedian Ray Romano would ever consider buying a luxury condo in Cape Cod?" First of all, Mr. Romano is no stranger to Cape Cod. As a matter of fact, Mr. Romano was the Celebrity Guest Conductor for the 22nd Annual TD Banknorth Pops by the Sea concert back in 2005. Need more reasons why you might see the "Everybody Loves Raymond" guy purchase a Cape Cod condo? Take a look at...(read the rest of this entry)
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cottage: Golf on the Cape in February? - 02/24/09 10:05 PM
I love Cape Cod and I love golf. In most years, "winter golfers" who have all the cold weather gear can get out once or twice during January and February. Not this year! Between snow and cold, my clubs have been stored away.
Today it's going to be sunny, 37 degrees, with no wind. To those of you in warmer climates that may seem unbearable, but to those of us with pent up golf demand, it's worth a shot. Falmouth Country Club here we come!
Isn't it amazing what you can do when you have to? It's kind of like real … (0 comments)

cottage: Three Questions Buyers Must Answer - 02/06/09 01:45 AM
Now that 2008 and the elections are behind us, we are all trying to determine how best to deal with the challenges that now face us. As is always the case, the challenges differ for each of us and the actions that we must take differ as well. This is never truer than in real estate.
It is safe to say that everyone now agrees that we are in a buyer's market. The debate, however, is whether this is a good time to be a buyer. The answer is "it depends." It depends on the buyer's personal goals and financial readiness. There … (5 comments)

cottage: 2008 Saw More Condos Sold Than Listed on Upper Cape Cod - 02/04/09 03:08 AM
 
The good news for condo sellers on the upper portion of Cape Cod, MA (Falmouth, Mashpee, and Bourne) is that more units were sold in 2008 than were listed. This is a positive trend when compared to 2007. The bad news, however, is that prices have dropped.
The following chart shows the listings/sold comparison for both the upper Cape and the Town of Falmouth for both 2007 and 2008.
… (1 comments)

cottage: 2008 Falmouth Condo Market Statistics - 01/27/09 08:04 AM
An Overview of the 2008 Falmouth Condo Market
                                                                  July                  October           December
Units on the market                               55                       55                      56 Average sales per month                       3.7                      3.4                     4.5 Our absorption rate*                            15.3                    16.2                   12.4 *Absorption Rate: 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%                 85.3% Sales % of list price (at time of sale)      90.62%                92.5%                 92.7% Buyers are still more demanding … (3 comments)

cottage: Keep the Spirit - 12/25/08 04:34 AM
Cape Cod is a magical place in any weather. Here is a view from the clubhouse deck at FalmouthPort on Saturday, December 20. By the way, this is a color photo.

Less than a week later, the snow is gone and this is the view at Falmouth Heights Beach on Christmas morning.

May the spirit of Christmas - Faith, Hope, Joy and Love - be with you today and throughout the coming year.
… (0 comments)

cottage: The Season for Predictions and Resolutions Is Almost Here! - 12/22/08 08:39 AM
Starting the day after Christmas, attention will focus on the new year. With this, both resolutions and predictions move to center stage.
Since the market has slowed lately (both seasonally and economically), I have been spending a great deal of time preparing for 2009. New technology, a new "niche" website and blog, a new contact management program, adding a new "farm," a new education/coaching program, and developing some new twists on old marketing schemes are all figuring into my 2009 plan. I have also been analyzing what worked in 2008 to determine whether it stays or goes in 2009. But I'll write … (2 comments)