Cape Cod real estate October 2024On Cape Cod in October (Barnstable County:    + Both the Sale Price to List Price and the Sale to Original List Price were down (-0.4% , -0.3%)    + The number of active listings (1083) rose from 1039 in September    + Average Sold Days on Market rose 5.9 days to 51    In Falmouth in October    + The Sale Price to List Price was down and the Sale to Original List Price was up (-0.1% , +1.3%)    + The number of active listings (116) fell from 122 in September    + Average Sold Days on Market rose 1.1 days to 28.8The post-election economic predictions now are for a stronger real estate market on Cape Cod. Falmouth is a strong market on the Cape, and should continue to be so into 2025.In the county of Barnstable, 310 single-family homes and 83 condominiums ... 11/21/2024

What are the real estate practice changes from August 17 2024?There are several real estate practice changes as of 8-17-24.Buyers and Sellers can broadly think about the changes in two ways:     1) Written buyer agreements are now required in MA and must meet certain criteria.     Buyers and their agents will need to reach an agreement regarding how the agent will be paid for services.    That will need to be put in writing prior to touring a home.        2) Commission splits offered by the Seller can no longer be published on Multiple Listing Services (MLS).    Commission Splits are no longer "allowed" in the MLSs - they used to be required.    Instead the Seller pays the listing company, and the Buyer pays the buyer agent or tries to get the buyer agent fee included in the transaction... 10/08/2024

There is a NEW STR BYLAW Proposed Falmouth MA (Short Term Rental) that will affect owners of Falmouth Real estate if it is passed. In my opinion, It appears that it was written quickly and without attention to the details that are needed to correctly address this topic.Here is why I have that opinion:1) It limits a 'natural person' to only 1 short-term rental permit which means you cannot receive more than one STR Permit therefore you cannot own more than one short term rental,(Natural Person means no Corporations, LLC, etc.)2) does not grandfather in those who operate  with more than one short-term rental permit now,3) does not appear to have a provision for those owners currently with more than one STR (Short Term Rental),4) does not appear to be based on data of how many short-term r... 10/07/2024

Before You Sell - Check Your Falmouth MA Permit Records Yesterday, at the Falmouth MLS Tour meeting, we found out about a new process initiated by the Town of Falmouth MA. They're now requiring any work done on your property that needed a permit to be officially acknowledged through their permitting procedures. Falmouth has become stricter with permit enforcement, so it's crucial to ensure that all necessary permits were obtained and closed, even if the work was completed before you owned the property. For instance, Kevin Klauer from Ament Klauer, LLP in Falmouth mentioned that having a finished basement without permit records could cause delays in closing a deal. He also pointed out that obtaining permits retroactively could take over a month and cost twice as much as getting them ini... 03/21/2024

Wrong Reporting: Real Estate Commissions Unchanged, Terminology ShiftsThe Newest NAR "Settlement" Does Not Universally Change the Amount of Real Estate Commissions as is being widely reported.Commissions in real estate agreements have always been negotiable.The Newest NAR "Settlement" DOESN'T Change the AMOUNT of Real Estate Commissions.BUT, It Does Change How Commission are DESCRIBED and PAID to the Real Estate Brokerages involved in the transaction.There are implications for home buyers and sellers.The proposed and yet to be approved settlement does redefine and re-categorize how real estate commissions are described and explained inside the paperwork of the listing in the MLSs and in the paperwork of the closing.Up to now, no lender has been willing to include Buyer brokerage fees in... 03/20/2024

Time to Sell?  The New Job Report Numbers 2024 vs. 2007 and the Real Estate Effects.Thus is a summary of a recent report labeled by Zero Hedge as the "most ridiculous jobs report in recent history".  The Bureau of Labor Statistics (BLS) claimed a blockbuster job growth of 353,000 in the U.S. for the last month. However, as Zero Hedge delves into the data, a different narrative emerges, raising questions about the accuracy of these figures and drawing comparisons to the tumultuous economic periods of 2007 and 2008.Seven Questions:1. Job Growth or Weekly Hours adjusted?    BLS reported an unexpected addition of 353,000 jobs, doubling Wall Street's consensus.    Comparison to 2008 crisis: The last time we saw a 34.1-hour workweek was during the depths of the 2008 crisis.2. Average Hourly E... 02/09/2024

Are home prices falling faster than in 2006? Locally?I just read an article in Fortune that is titled, "Home prices are falling faster now than in 2006—Redfin’s CEO just revealed why". It is a relatively long read as articles go. And, it has some big names included in the interviewee list. But I think the last sentence is more honest than the title, "Simply put: Home price outlooks are all over the place."Why not make the last sentence the starting point? Why not say that all real estate is local, and although there are some areas that are seeing corrections, there are many areas that are doing very well - still. Oh I know why - negative news sells - duh.As a graduate of the Suffolk University Economics department with a citation for academic excellence from Dr. Tuerck, I know first han... 11/03/2022

Will Interest Rates Go Higher?Will Interest Rates Go Higher is one of the most pressing questions in real estate circles. Everyone from buyers and sellers to banks and brokers are looking for detailed info to provide the answer. In a presentation to our company, National Association of Realtors Chief Economist, Lawrence Yun provided a series of graphs and explanations to provide some real estate data and info.Mr. Yun provided 19 different graphs in as part of his presentation. The first of those is below. He began with an explanation of how mortgage rate resistance points are markers of the direction and stability of interest rates. And, how understanding where the resistance points are, can help see where interest rates may move or stabilize.In this graph of interest rates, you can see... 10/19/2022

Daily Conversations with God: A 30-day devotional to deepen your relationship with God, is an interesting guide to develop your self awareness. Everyone has an awareness of where they are currently. Here's an effective way to evolve further.In this divided world, you can decide who you are and whose you are.These devotionals are focused on developing God as a friendly father that you can rely on more realistically than you may currently be. Sometimes church and history have boxed people in to a set of rituals, rules, and / or requirements. These "Conversations with God" can help provide a path to get more real and personal as you continue to acknowledge / allow for / expand / accept / develop who you are and whose you are.If you are looking for gentle suggestions to further your depth, ... 10/12/2022

Interest Rates, Price Crash, Recession? There a opinions all over the media, social media, and in conversations with these three concentrations. Everyone has an opinion and most of us are along for the ride because the focus is National or Global.Sometimes an article has a catchy enough headline to make me go beyond the surface, and read it. One such article was recently on HousingWire.com and was written by By Logan Mohtashami. His article is titled: "Why the Fed’s housing reset risks a global recession."In the article he dissects the actual sentences of the FED Chairman, Jerome Powell, and he interprets what he (Logan Mohtashami) sees are the actual inferences that the Chairman is making. Logan provides his explanation of where the housing market is and where it is likely heading - wh... 10/02/2022

Housing Bubble? How to know in 2022.The first place to look is in your own real estate market. Ask the business people who are listing and selling property most often. Holly and I call them the ASR real estate agents and real estate brokers - those who Actually Sell Real estate.6 Questions to ask your favorite "ASR":A. Are the numbers of listings increasing?B. Are there more price reductions happening?C. Are properties staying on the market longer?D. Are properties in distress by foreclosure pre-ceedings/processes on the rise?E. Is average price still increasing?F. Are you seeing fewer cash transactions?Why A? Because if the number of listings are increasing, then sellers may not have as much control over pricing as they have up to now.Why B & C? Price reductions and/or a higher "Days O... 06/09/2022

Real Estate Seller Tips :1.  How has selling real estate changed since you last sold? The changes can be surprising. There can be scores of steps before the closing.2.  Once you decide to sell, understand that your property is an asset rather than your home. Let go as best you can, and enjoy the process. Deciding to sell starts the adventure.3.  Choose an experienced professional to guide and advise as to what are normal requests, forms, clauses, and business procedures. Real Estate has become more specialized than you may remember.4.  Rely on your active professional for honest information about how buyers will look at your property. Be receptive and consider their experience useful.5.  Location Location Location has morphed into varying degrees of Location Condition Price, with all be... 03/28/2022

The Top Vacation Home Counties in the USA:According to the most recent NAR Vacation Homes Report (https://cdn.nar.realtor/sites/default/files/documents/2021-vacation-home-counties-report-06-15-2021.pdf), the top 1% of vacation home counties were in 16 states. North Carolina had four vacation counties (Swain,  Alleghany, Macon, Watauga); there were three each in New York (Greene, Sullivan, Hamilton), Vermont (Windham, Bennington, Windsor), Massachusetts (Dukes (Martha's Vineyard), Barnstable, Nantucket), and Michigan (Oscoda, Alcona, Clare); there were two each in Florida (Lee, Collier), Missouri (Hickory, Camden), and Maryland (Garrett, Worcester). Oklahoma, Maine, Arizona, New Jersey, Georgia, New Mexico, Delaware, and Minnesota each had one vacation home county that landed in the top ... 03/24/2022

Falmouth MA Real Estate Market in March 2021 Cape Cod The Falmouth MA, Cape Cod, Real Estate Market in March 2021 is busy and crazy. Falmouth has limited inventory and rising prices. The pictures below show some of the data that we see in 2021.With over 20,000 properties, Falmouth is one of the largest real estate markets on Cape Cod. As of this writing, there were 44 available properties in Falmouth in February 2021, and on the 29th of March there were only 35 homes not under agreement. Inventory is a real problem for our customers and clients who are trying to get their year round home and summer vacation homes settled.Experienced real estate professionals like Holly and I are resorting to using "real estate wish lists" for specific buyers. Then we look for those properties and see if... 04/03/2021

Are there Ups and Downs in the Cape Cod Real Estate Market?Are there Ups and Downs in the Cape Cod Real Estate Market? The short answer is yes, like all real estate markets. More specifically, there are ups and downs each month, as well as the ups and downs that happen in the real estate cycles over a decade or so.The chart below shows the ups and downs over a 17 year period for Barnstable County Real Estate. The data is from the Cape and Islands MLS which is one MLSs that we are a part of.  And interestingly, it provides the answer to the age old question, "How's the real estate market? on Cape Cod"In this case, for all price points and including all 15 Cape Cod towns, the answer is a resounding, "H M M M M M M M ... let me think about that." Each year is an M with most activity in the... 03/29/2021

Cape Cod Weather - March 2021If you're like me you're ready to get outside and enjoy Cape Cod. Below is a calendar to help plan for the clear and the rainy days. As for the temperatures, supposedly we'll have a range from low 40s to high 40s. Of course I find that the media outlets in Boston and Providence are usually not correct.In my opinion we have very different weather on the Cape, and especially in Falmouth, for a few reasons. In Falmouth there is Buzzard's Bay, Vineyard SOund, the Gulf Stream, and the currents in the sound that all affect the weather here. We'll often have different weather than the rest of The Cape. However, if Falmouth gets a bad storm, the rest of The Cape is usually impacted also.For the rest of The Cape, there is the addition of Cape Cod Bay and the Atlantic... 03/11/2021

Cape Cod Weather - March 2021If you're like me, you're wondering when to plant grass and plan outdoor projects and activities. So here is a calendar that tries to predict the weather for the rest of March on Cape Cod. I find that most of the media outlets in Boston and Providence have a hard time getting their predictions even close. So we'll see how this calendar holds up to the same scrutiny.In general, my experience is that once you're over the bridges, the temperature changes, the clouds change, and the actual weather is different. And in Falmouth, we have even more differences. My opinion is that because we have Cape Cod Bay on the west, and Martha's Vineyard and the Gulf Stream on the south as well as the currents in the Sound, we get different wind and weather than most of the ot... 03/11/2021

Well, we have already had two months of very, very, limited inventory on Cape Cod in 2021.Time flies when you're trying to get a place on Cape Cod right now.If you are looking to buy or sell there are some crazy things happening!For example, today on 3/8/21, there are 38, thirty eight, less than 40 listings "available".The average: price = 1,400,000+ , Bedrooms = 3+ , Baths 3+ , Days On Market = 71.This is all crazy, because we have usually closed an average of 38 homes a month in Falmouth in the past.If you're preparing to buy in Falmouth, here are some suggestions.Be prepared to bid higher than the asking price.Have your financing as ready as you possibly can, because you want your offer to looked on favorably.Decide how much work you are willing to take on in any property, and look a... 03/08/2021

Buyers With No Check - Beware, Deal or no Deal?What if the buyer doesn't deliver the offer check? The Cape Cod and Islands Association Of Realtors (CCIAOR) recently published an article providing direction on this question. Basically, if you used one form for the offer, the answer is no deal. If you used another form, the answer is deal. Confused? Make sure your real estate professional isn't!Because I am not a lawyer and because this is not legal advice, I need to say, "It is my understanding that" in MA, a binding real estate contract needs a written offer, acceptance of that offer with no changes and within the time constraints of that offer, and then some form of consideration delivered and received by the seller. If one of these components is not in place, then there is probably no... 08/06/2020

New Massachusetts Short Term Rental Laws 2019 MAYes, there are New Massachusetts' Short Term Rental Laws. No, no one understands them, completely. I attended on a webinar on 12/16/19 at 10 am, where even those who have been involved in the process from the start, don't have a complete rental guide, nor complete "how to" answers.Why don't they have a complete guide? All the answers aren't finalized. There are MA rental registries that aren't functioning, insurance requirements that aren't clearly defined as to how to comply, and forms that aren't in existence yet.If you're feeling in the dark, you're not alone. This webinar was for Realtors' edification. What we got from the MAR legal office is that there is still a lot of work to be done to clarify the MA taxes on rentals at both the st... 12/16/2019