Q: " I bought my house 8 years ago for $250,000.  Since that time, the value of my property has tripled.  I would like to sell my house and downsize.  I have never sold a property before and I heard that I do not have to pay Capital Gains tax if I am selling my primary residence. Is this true?" A:  That is not entirely correct.  The current tax law states that an individual is exempt from the first $250,000 of Capital Gains ($500,000 for a couple) on a property that you have lived in for at least two of the past five years. If your gain is larger than $250,000, you will likely be taxed on the excess amount.  To figure out your gain, you must first know your cost basis.  That is the amount you paid for the property plus any improvements you have made. The difference between your sale pri... 05/04/2008

Yesterday I wrote a post called I have the birds eating out of my hand!Yes, believe it or not, that little bird was eating right out of my hand.  A friend of mine took the photo while we were visiting Beach Forest Park here in Provincetown on Cape Cod.  This park is known to have very friendly creatures!  This is one of the outstanding qualities of life here at the tip of Cape Cod! I am calling this one "I see you".  This little guy was sitting on top of a box where I placed some bird food.  When looking to buy or sell anywhere on Cape Cod in Massachusetts, be sure to call me at 508-487-6002 or e-mail me at Rick.Tourgee@Century21.comI am an Accredited Buyer Representative (ABR) and a Seller Representative Specialist (SRS) with a successful track record, servicing Buyers and Sellers look... 04/12/2008

 To the delight of many and to the disappointment in others, Wednesday night the voters/residents did approve Proposition 2 1/2 override for $64,000 for July 4th fireworks.But many voters had a hard time digesting spending tens of thousands in taxpayer money on the holiday, saying the events' expenses have at least tripled in recent years.  Local businesses feel the event brings an economic benefit as tourist usually arrive earlier in the day and spend money on food, drinks, gifts, etc. before the evening of delightful fireworks.Many feel due to the severe seasonal nature of this area of the Cape, we need to do as much as we can to bring more people here during the summer months.Mark your calendars.....come to Provincetown for 4th of July fireworks!!Rick TourgeeCentury 21 ShorelandProvi... 04/10/2008

As I reported in a post yesterday, the Town Meeting began here in Provincetown on Monday night with many residents faced with a tax hike to allow continued curb side trash pick up, or reject the  Proposition 2 1/2 and do without the service.  Also, approved, an extra $106,340 in an override will allow the Town Manager to give up to 3 percent raises to both union and non-union town employees.At the second meeting Tuesday night voters approved the override to fund the $153,000 expense to continue trash pick up.  The overrides and capital exclusion articles still need to be approved by ballot vote at the town election May 6. 04/08/2008

Monday evening was the first evening of the annual Town Meeting here in Provincetown.  The meeting started with the school budget and funds for allowing more properties to connect to the town sewer system.  But, one local resident/voter said "I'm here to talk trash tonight."  He was correct as trash was on everyone's mind. The issue of curbside trash pickup has become a huge local issue as voters are struggled with budgets, issues, overrides, etc......and hoping to keep taxes as low as possible. The Provincetown Selectmen, faced with more expenses than the tax levy can pay for, had urged department heads to tighten their fiscal belt.  But when the budgets were in, there was still a large overrun. As many expected, they were faced with pulling services and possibly jobs out of budgets an... 04/08/2008

    TIP SHEET FOR BUYERS OF PROPERTY ON CAPE COD In the adjusting economy, real estate is a great buy here on the outer Cape.  Our local market has encountered changes, but no where near the national level you are reading about in the papers.  Provincetown is unique with high speed ferry service from Boston, daily flights on Cape Air, expanded boat service from Plymouth and new this summer from Glouster, MA. 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!   I thought you would enjoy a few of the local statistics about the market. Currently, we have             .. 85 studio and one bedroom units starting from $145,000                .. 71... 04/07/2008

Here we are, April 1, 2008!  Wow, time flies when you're having fun!  The first quarter has ended and here are the sales figues from the Cape Cod MLS system of closed/sold properties in Provincetown from January 1- March 31.As we know, the average days on the market has increased from 2007.  However, Buyers are buying and the market is active!VolumeYear to date 2008Last year to date 2007Provincetown  Condos3122Single family46Average days on the market184163 Sales Prices (2008)HighestLowestAverageProvincetown   Single Family$1,400,000$625,000$967,500Condos$785,000$45,000$330,206 Should you be considering buying or selling a home or condo anywhere here on Cape Cod or in Provincetown, please feel free to visit my website or call me at 508-487-6002. 04/01/2008

Q:  My partner and I have had a long time dream of owning a Bed and Breakfast, and we are thinking more seriously about starting to look in Provincetown.  Can you tell me about the process and how much we will have to put down? A: There are over 85 Guest Houses in Provincetown, and at any given time, approximately 10-15% of the properties are on the market.  There are currently 12 being offered for sale, priced from $699K to $3,000,000.  Most often, Guest House properties are sold completely furnished and equipped. It is important to speak with a commercial lender at the beginning of your search so that you can determine the price range in which you should be looking. Will one of you continue to work at your present job while the other runs the inn?  Do you own other properties?  Do you... 03/22/2008

Here in Provincetown, it is a small town of only 3,400 year-round people.  Here, we have "Selectman" in our town Government.  May 2008 is election time for these Selectman.  A list of candidates has already returned papers to run for selectman this coming May. However, one of the two incumbents up for reelection, Lynne Davies, will not be among them.Davies said Tuesday she decided not to stand for reelection because of the negative politics she believes have tainted the board of selectmen, creating different agendas that have polarized the board.Then, last night, Pam Parmakian resigned.  Pam was elected to the board May 2007, said she could no longer sit by and not participate in the on-going discussions regarding the development of affordable housing both locally and regionally. Becaus... 03/20/2008

Below are the sales stats of actual sold/closed properties in Provincetown according to the Cape Cod & Islands MLS system from January 1, 2008- February 29, 2008.  There were 15 sales sold/closed at or above above $190,000.  Last YTD, there were 19 sales.  Thus, we are seeing a slight slow down in sales in 2008.SoldSelling Price Range Quantity     Average DOM $250,000 thru $299,9993115 $300,000 thru $349,9992119 $350,000 thru $399,9991104 $450,000 thru $499,9992141 $500,000 thru $549,9991145 $600,000 thru $649,9991475 $650,000 thru $699,9991162 $750,000 thru $799,9991733 $1,000,000 thru $1,249,9992315 $1,250,000 thru $1,499,9991202  15221  Summary Price InformationMinimum $263,750Maximum $1,400,000Average $610,077Median $468,000Please visit my website to see a small handful of Provincet... 03/01/2008

For many of us here on Cape Cod, finding a good restaurant with great service and excellent food during the off season is very challenging!  Back in November I reported about a great place for breakfast and lunch.  Now I am thrilled to add dinner as well!Chach Diner located on Shank Painter Road in Provincetown, right across the street from my Century 21 Shoreland office is my favorite place for Breakfast and lunch.  I am thrilled to now say that they are open for dinner on Tuesday evenings!  They are experimenting with Tuesday evenings to be sure that the Chef is comfortable with the dinner menu and being sure everything is right on slower evening.  If dinner works out well, Chach will expand to more evenings as we enter the busy summer season.Chach Diner is run by a chef instead of a ... 02/12/2008

   As I hear the weatherman predict yet another day of snow...I believe this is seven in a row...I try to relieve my cabin fever by reliving Memories of Summers Past!~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~  On a post by Lysa Napolitano, about Whale Sightings off the Florida Coast. I had commented about the fabulous sightings we had on a Whale Watch I went on some 20 plus years ago! And promised her I would resurrect my pictures. And what better time, than a Winter Day with temperatures registering 14 degrees, to recall a trip to Sunny Cape Cod   in July... and a Whale Watch out of Provincetown.  We were all very excited in that this was a "first" for our small group...We had been told that the waters off Provincetown were a travel pattern for Whales and we had very high expectat... 02/11/2008

Russ Olevsy, bought the Moffett House Guest House in Provincetown several years ago in early 2004.  Over the last two-three years the Moffett House has gone through a complete remodel.  The entire inside of the house, including all 10 guests rooms, has been replaced or remodeled.  Russ celebrated a grand opening Memorial Day weekend 2004.  Russ purchased many bicycles - starting Spring 2005 the use of bicycles will also be included at no additional charge to the guest.  Russ also now has a computer in the lobby with Internet access.  Moffett House is open year round.  Russ is very excited to show you the NEW Moffett House.Built in 1890, the Moffett House was formerly the home and studio of Ross Moffett, a well known local artist.  The house has been restored to offer accommodations with... 01/09/2008

My earlier post was of sold condos in Provincetown on Cape Cod during 2007.  As I stated, volume was up about 10% in 2007 compared to 2006.  However, below are the numbers for currently active condos listed for sale on our MLS system.  We still have about a years worth of inventory!ActiveListing Price Range Quantity     Average DOM $20,000 thru $29,9992221 $30,000 thru $39,999116 $40,000 thru $49,999156 $50,000 thru $59,999139 $100,000 thru $119,9991149 $120,000 thru $139,999139 $140,000 thru $159,999231 $160,000 thru $179,999566 $180,000 thru $199,9992122 $200,000 thru $249,9999148 $250,000 thru $299,9999118 $300,000 thru $349,99916202 $350,000 thru $399,99925189 $400,000 thru $449,9999131 $450,000 thru $499,99915159 $500,000 thru $549,9994125 $550,000 thru $599,99912222 $600,000 thru ... 01/02/2008

I just posted figures of sales of single family homes that sold during 2007 here in Provincetown on Cape Cod.  As you may have noticed that only 26 homes sold in all of 2007.  Below is the chart of currently active single family homes in Provincetown that is listed on our MLS system.  Using simple calculation, we have more than 2 years worth of single family homes in inventory!ActiveListing Price Range Quantity     Average DOM $450,000 thru $499,9995273 $500,000 thru $549,9993280 $550,000 thru $599,9997271 $600,000 thru $649,999291 $650,000 thru $699,9992176 $700,000 thru $749,9991221 $750,000 thru $799,9995348 $800,000 thru $849,9992289 $850,000 thru $899,9996304 $1,000,000 thru $1,249,999688 $1,250,000 thru $1,499,9996334 $1,500,000 thru $1,749,9993143 $1,750,000 thru $1,999,9994244 $... 01/02/2008

Here are the final sales of single family homes in Provincetown on Cape Cod according to our MLS system.  As you may notice, the volume of sold single family homes is only 26.  This is due to the fact that single family homes are a very small segment of our market here in Provincetown.  Single family homes are only about 15-20% of the overall market.  Condominiums represent more than 50% of the overall market.The largest sale of $2,625,000 was a beautiful waterfront 3 bedroom home on Cape Cod bay.SoldSelling Price Range Quantity     Average DOM $300,000 thru $349,9991325 $350,000 thru $399,9991213 $400,000 thru $449,999174 $450,000 thru $499,9992124 $500,000 thru $549,9994186 $550,000 thru $599,9992178 $600,000 thru $649,9992312 $750,000 thru $799,9993191 $850,000 thru $899,9992251 $1,0... 01/02/2008

Here are the final numbers for condos sold in Provincetown on Cape Cod for 2007 according to the Cape Cod MLS system.  These numbers represent about a 10% increase in volume of closed sales over 2006.  I believe it is because there is pent up demand to buy in this beautiful resort community, low mortgage rates, and more realistic sellers.SoldSelling Price Range Quantity     Average DOM $100,000 thru $119,999178 $160,000 thru $179,9994154 $180,000 thru $199,999465 $200,000 thru $249,99910183 $250,000 thru $299,99917183 $300,000 thru $349,99913168 $350,000 thru $399,99917174 $400,000 thru $449,99914159 $450,000 thru $499,99912176 $500,000 thru $549,999394 $550,000 thru $599,99910185 $600,000 thru $649,9994216 $650,000 thru $699,9995237 $700,000 thru $749,999298 $750,000 thru $799,9993101 ... 01/02/2008

18 Howland # CProvincetown, MA  02657Saturday, December 29, 20079:30am- 3:30pm My Sellers who have owned this cottage as a second home are selling this cute cottage (which I have under agreement) and will be selling many furnishings and decorations at great prices!Cash and carry!  Come to 18 Howland Street # C, (stand alone cottage between Bradford Street & Rte 6) from 9:30am-3:30pm!!For more info, e-mail:  LaBerenson@Verizon.net 12/26/2007

Volume of actual closings here in Provincetown on Cape Cod are up about 5% compared to LYTD according to our local Cape Cod MLS.  In 2007 the average price is $525,601 with an average DOM of 185.  In 2006 prices were slightly higher at $528,450 with a lower DOM of 146.Below you will see two graphs of interesting stats that I am sure many are experiencing.   12/15/2007

Sales here in Provincetown continue to do well!  Here is a break-down of sales of all property types according to the Cape Cod MLS system from January 1, 2007- November 30, 2007:SoldSelling Price Range Quantity     Average DOM $60,000 thru $69,9991329 $100,000 thru $119,999240 $160,000 thru $179,9993196 $180,000 thru $199,999465 $200,000 thru $249,9999198 $250,000 thru $299,99917183 $300,000 thru $349,99913184 $350,000 thru $399,99917171 $400,000 thru $449,99913141 $450,000 thru $499,99914211 $500,000 thru $549,99911196 $550,000 thru $599,99913173 $600,000 thru $649,9994187 $650,000 thru $699,9994265 $700,000 thru $749,999298 $750,000 thru $799,9998129 $850,000 thru $899,9992251 $900,000 thru $949,999128 $1,000,000 thru $1,249,9994228 $1,250,000 thru $1,499,9997213 $1,750,000 thru $1,99... 11/30/2007