May 08, 2009

Real Estate Bargains Galore: When waiting for a Bargain can be Self Defeating

Posted to Lisa Mancha

The real estate market on Cape Cod is currently flooded with incredibly low priced homes – which as a real estate agent, I must say, it is quite exciting. First time homebuyers are now able to find properties that are easily affordable within their own community.

The challenge is the majority of these bargains are distressed properties such as bank owned (REO) and short sales. I know the terms can be confusing so let me explain a bit more about the dynamics of it. Foreclosed property is considered a distressed property because for some reason, the owners of the property have been unable to keep up with the mortgage payments and the bank has given notice that the property will be “foreclosed” on and sold at auction. If the property is not sold at auction it becomes a REO, Real Estate Owned by the lender, also known as a “bank owned.”

A Short Sale is a distressed property being offered for sale by the homeowner, but at a much lower selling price than what they actually owe their lender. The seller’s lender is accepting a discounted payoff to release an existing mortgage. This situation may have come about because the seller may be in default in payments and is attempting to avoid going through the foreclosure procedure, or has already been notified by the bank that foreclosure proceedings have begun. This can also occur when the seller may have lost a considerable amount of equity in the property’s value and has come to an agreement with the bank to settle out the mortgage by selling the property at a considerable discount.

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April 14, 2009

IT'S TIME TO DUST OFF YOUR GOLF CLUBS

Posted to Beverly Comeau

With warmer days upon us, many golfers have dusted off their golf clubs and headed to the driving ranges- a sure sign of spring. My one experience with golf taught me never to try again.

My friends tell me there is an excellent pro at nearby Holly Ridge- maybe someday… There’s a lot going on at Holly Ridge, one of Golf Digest’s “Best Places to Play”- here’s the link to their newsletter - www.hollyridgegolf.com - sign up now to win a month of golf free.

And if you’d like to be able to play a round without driving to get there, consider this home at 60 Holly Ridge Dr, Sandwich, MA, a Colonial featuring sun-filled living space, three bedrooms, private master bath, wood floors throughout, two car garage and views of The Ridge Club Golf Course.

To check out the courses that are open now, go to www.golfcapecod.com- the Golf Destination of New England.

To check out homes near golf, go to www.BeverlyComeau.com.

HAPPY GOLFING!

Posted By: Beverly Comeau


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April 13, 2009

Buyers for Cape Cod properties have officially woken up from their hibernation!

Posted to Melanie Cauchon

As April arrived with its nicer weather, so did the second home buyers on Cape Cod!

In the last 10 days, I showed houses on at least 6 of them, including 4 days split with morning showings to one client and afternoon with another! There is a good inventory of great deals out there.

I get the calls from my buyer clients and they want to see a lot of houses in one visit to the Cape. Looking at 8-12 houses in 3-4 hours is not unusual anymore. But we do a lot of work together on the phone and online before they come down. I send them updates and they visit my Web site daily for new listings, price changes, to see what is selling. We are also watching for interest rate changes. I have even done previews with video tours that I emailed to a client in Switzerland before she flew here! My days are now filled with phone calls & emails for planning visits, house showings, CMA preparation and marketing planning of new listings! My multitasking skills are being challenged to never attempted before performance levels! I am loving it!

I also have some great listings coming up soon, some near Mayflower Beach in Dennis, some in Harwich, some in East Dennis, so don’t forget to keep an eye on my web site: www.melaniecauchon.com. Or you can sign up and request listings sent to you automatically. Or just call me directly at 508-534-5570.

I am telling you, it is official: Buyers who were hibernating just woke up! No wonder why: Rates are under 5 percent for 30 year fixed, prices have leveled down and there are many great deals out there. It is the best world for buyers!

Let’s get started on your home search, call me at 508-534-5570.

Melanie Cauchon, Your Cape Cod Realtor

Posted By: Melanie Cauchon


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April 13, 2009

Buyers for Cape Cod properties have officially woken up from their hibernation!

Posted to

As April arrived with its nicer weather, so did the second home buyers on Cape Cod!

In the last 10 days, I showed houses on at least 6 of them, including 4 days split with morning showings to one client and afternoon with another! There is a good inventory of great deals out there.

I get the calls from my buyer clients and they want to see a lot of houses in one visit to the Cape. Looking at 8-12 houses in 3-4 hours is not unusual anymore. But we do a lot of work together on the phone and online before they come down. I send them updates and they visit my Web site daily for new listings, price changes, to see what is selling. We are also watching for interest rate changes. I have even done previews with video tours that I emailed to a client in Switzerland before she flew here! My days are now filled with phone calls & emails for planning visits, house showings, CMA preparation and marketing planning of new listings! My multitasking skills are being challenged to never attempted before performance levels! I am loving it!

I also have some great listings coming up soon, some near Mayflower Beach in Dennis, some in Harwich, some in East Dennis, so don’t forget to keep an eye on my web site: www.melaniecauchon.com. Or you can sign up and request listings sent to you automatically. Or just call me directly at 508-534-5570.

I am telling you, it is official: Buyers who were hibernating just woke up! No wonder why: Rates are under 5 percent for 30 year fixed, prices have leveled down and there are many great deals out there. It is the best world for buyers!

Let’s get started on your home search, call me at 508-534-5570.

Melanie Cauchon, Your Cape Cod Realtor

Posted By: Melanie Cauchon


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April 09, 2009

THINGS ARE HOPPING??

Posted to Peter Hawley

Spring is almost here on Cape Cod, being surrounded by still chilled water it takes awhile for our temperature to warm up. I have put away the snow shovel, the Osprey’s are returning to build their nests, I check a few of the nesting areas as I drive along the coast on my way to Falmouth, Mass. where I List and Sell Real Estate. (www.peterhawley.com)

Not only do we have flowers appearing after a long winter, we also have many Buyers out and about every weekend, reviewing Open Houses. There is no question, there is high interest to get into the market, and there are some very attractive investments, but many still lack confidence that this is the right time to move forward. “We don’t know what to do” is repeated over and over again.

The fact is that there has been some price stabilization, there are many properties that continue to be overpriced, and the market is not going to roar back. It is all about perception and the motivation to actually buy something. 1. If you have a 5 year plus time line to use and stay in a property, it is time to BUY. 2. Interest rates are at historical lows making it time to BUY. 3. High inventory offers more choices more negotiating opportunity and it is time to BUY. 4. Combining new Tax Credits, which range from $8,000 for first time Home Buyers to deals like 30% off the cost for a wood stove (total tax credit does have some limits) makes it time to BUY.

How to finally make the decision to move forward is difficult and my first suggestion is to crunch the numbers. What is your present debt level and when can you reduce or eliminate that debt? What is your credit score, and if it is low, what do you need to do to raise it so you can get the better interest rate offered? What is your cash reserve that will allow for a Down Payment, one year prepaid Home Insurance, Appraisal Fees, and Closing Costs? Have you sat down with a mortgage advisor and understand these costs? (www.conwayfinancial.com) It is about the money, and if your first decision is to address the money, understand the money, work to accumulate the money, then you will be able to make many more choices; you will have the confidence to BUY.

The old Real Estate quote, “One must be READY, WILLING and ABLE to Buy,” continues to ring true. Understand your money and you will be, READY, and ABLE, and when you investigate the present Buying opportunities, you will be WILLING to BUY.

I would love to meet with you, assist in crunching the numbers, review what you can afford that is available in the market, negotiate a successful outcome, so you can Hop right into your new home. Contact me at phawley@jackconway.com.

Posted By: Peter Hawley


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April 01, 2009

Depending, on whether it's Pending...

Posted to Lisa Mancha

I had a great time showing properties this past weekend on Cape Cod where I work as a Realtor for the Jack Conway Real Estate Company’s Mid Cape Office. My Clients picked out their favorite properties to view, and lo and behold there were a few I could not show them!

I was quite excited to see, that a few of these homes were pending sale. I must confess that I felt an internal smile rise up within me. I could only show 5 out of 8 listings! That means that 3 of those properties were on their way to sold! The spring market, it seems, is picking up steam.

As of March 27, 400 Single Family Homes are pending sale, 10 Multifamilies, and 107 Condominiums, just on little old Cape Cod. Now let’s think about that, 517 people, today, are saying “I am buying that property, I am taking the plunge and making a wise investment now.” To me that is a clear indication that consumers are getting savvy. They understand that there has never been a better time to buy. With record low interest rates, tax incentives, and an abundance of impressively priced houses, it is time to invest in the future.

Real estate, no matter the market, is never an unwise investment. The media is telling us that homes have been quickly losing equity, but what they don’t tell you just as loudly, is what goes down, must come up. No matter the market you buy in, you will eventually profit from a real estate investment. The key ingredients to your investment is… time.

The “time” it will take you to make a profit from your investment depends on the “timing” of your investment. Whether the real estate market is in the upswing or the downswing you will eventually see an increase. It is in the down swing that the truly wise investments are made, because it will take less “time” to see the profit from your investment.

The smart consumer is buying when the market is down. Unfortunately many are waiting for the media to tell them that the bottom of the market has been hit. If you’re waiting for such an announcement, unfortunately, it really won’t arrive until that time has come and gone.

I know a lot of people are on the fence, trying to predict that pivotal moment in time. I can say that by looking at today’s Cape Cod market alone, 517 people have decided it is now. We might just be looking behind us at the bottom.

If you decided the time is now to invest in your future, call me and let’s discuss your real estate goals. But I must tell you up front of course, that I can show you anything on Cape Cod… Depending of course, on whether it’s Pending!

Call me today to find out what’s happening in the Cape Cod Real Estate Market. 508-534-5524 or come find me at www.CapeCodSeaSideProperties.com

Posted By: Lisa Mancha


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March 24, 2009

The Blooming Market

Posted to Lisa Mancha

I arrived at work today greeted by Spike and Millie, our patron Canadian Geese. I was glad to see them back after their long winter break from Cape Cod.

I have to say when they are waddling around the pond out back of the Jack Conway Office in Hyannis where I work, it brings great relief, as I know spring has arrived!

Another interesting thing about the arrival of Spike & Millie is the sudden bolt of activity in the real estate market. True to form, houses and condos are being plucked from the market and into the lives of their happy new homeowners. Yes, spring is arriving and the real estate market is certainly showing it!

With all the media gloom and doom I confess, I too was holding my breath wondering what this spring market, one of our busiest times in real estate, would bring. Not so amazingly, as in true form, the market is on the move!

I suppose that the incredible incentives being offered now by the government make it all the more attractive of a time to buy. President Obama's signing of the economic stimulus package has indeed brought some wonderful gifts to the market. Many first time home buyers who purchase a home between January 2009 and December 2009 are eligible for a tax credit up to $8,000!

It really is an amazing time we are in, interest rates are incredibly low, the inventory is currently in great abundance and the incentives are at an all time high. Much like Spike and Millie... change is in the air! I am feeling quite optimistic that the real estate market is really going to bloom this spring right along with the crocus and daffodils.

To find out more about what's happening in the Cape Cod market, give me a call at 508-778-0057.

Posted By: Lisa Mancha


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March 17, 2009

Mid Cape 55+ Community

Posted to Scott Cash

Located at the beautiful condominium community Kings Way off Route 6A in Yarmouthport, Heatherwood is one of the Cape Cod’s premier retirement community. It offers 183 one and two bedroom independent-living units as well as 14 assisted-living units. Amenities include a meal plan, housekeeping, maintenance, transportation, social activities, and arts and crafts activities. The facilities include a greenhouse and residential storage areas, and a doctor visits once a week.


Heatherwood also shares numerous amenities with Kings Way, including walking trails, tennis courts, swimming pool, and of course, the Kings Way golf course. Surface and underground parking is plentiful, and each resident has a security and emergency response system.

If you are thinking of making the Cape your home or you would like to view a unit at Heatherwood call Scott Cash 508-534-5702. Scott is a 13th generation Cape Codder. You can view all of Cape Cod’s wonderful homes at www.cashoncapecod.com.

Posted By: Scott Cash


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March 16, 2009

A Government Gift...

Posted to Peter Hawley

It is a crisp March morning as I make my way to the office in Falmouth, Mass., where I List and Sell Real Estate. (www.peterhawley.com). I had a discussion with one of my clients last evening regarding the need to have some windows replaced in a property that I am Selling, and I was pleased to be able to review some of the new Tax Credits, now available in 2009 and extended through 2010.

If you plan to make some home repairs, upgrade mechanical systems, or even buy a new car, let me direct you to 2 Internet sites that you might find interesting. First we have Alliance to Save Energy at www.ase.org. Here you will find an easy to read outline of the new tax credits available from the US government. I also would direct you to the Database of State Incentives for Renewables and Efficiency, www.dsireusa.org, where you can select your state and find all the current incentives available from your State government. I would also have you check with your local utility company and see what incentives they are offering, there are many incentives to purchase Energy Star rated appliances, converting Heating Systems and Hot Water Heaters. Leave no stone unturned when considering an investment in your property.

For all homebuyers that might need to factor in the cost of upgrades when making an offer, this information will be helpful. Many of these incentives will have short lives, and like many things, timing is essential.

There are also a number of Mortgage packages that allows you to factor in the cost of repairs and construction if you need to have a new roof, new kitchen, upgrade systems, and I highly suggest that you investigate these opportunities while speaking with your Lender. Here in Conway Country, our Conway Financial Services representative can fully explain the programs available. Kathleen Hallam, a member of the Falmouth Office team, is available at khallam@conway-financial.com, and would love to review those programs that you might qualify for.

Selling and Listing Real Estate is more than just knowing about a property and which room is the kitchen, it involves Tax issues, Financing options and having the knowledge to offer the best service I can to my clients. I am available at phawley@jackconway.com and would love to hear from you.

Posted By: Peter Hawley


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March 11, 2009

SPRING FORWARD …….

Posted to Peter Hawley

The Spring Market has arrived and here in Falmouth, MA where I Sell and List properties (www.peterhawley.com) activity is on the rise. Open Houses are very busy, and with the new $8,000 Tax Credit, Low Interest Rates, a great inventory to select from I have noticed that many potential customers are starting to realize that this is a good time to BUY!

We are all numb with the constant flow of housing articles printed each day, and most take a broad view of the country. Real estate is a local issue, and here on Cape Cod we have not experienced the plummeting values of property. This is not to say that we are unaffected by the housing market slump, of course we are, but we have not had the dramatic fall in values as many areas have.

Foreclosures continue to enter the market and these are great Buying Opportunities for many who now can get into the market, using the $8,000 Tax Credit for First Time Home Buyers, finding excellent fixed rate mortgages and with a little elbow grease, Home Ownership is within reach.

The arrival of the Red Winged Black Bird that swoops through the marsh has always been my first clear indication that spring is here. The Sun setting later each day is wonderful and walking along the beach, in late afternoon is the best reminder of why I love Cape Cod. It is getting time to fine tune my bike so I can ride on the Rail Trails, which I am determined to do as often as possible this year, and hopefully I will see you walking or riding along the Edge of America with me.

I am available at phawley@jackconway.com, and if you want to explore the housing market or share with me your favorite walks and bike rides on the Cape, I would love to hear from you.

Posted By: Peter Hawley


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March 11, 2009

A bit of history on the Cape

Posted to Scott Cash

I was taking a scenic drive down Rte. 6A in Yarmouthport when I came across the Captain Bangs Hallet House. The Captain Bangs Hallet House is owned and operated by the Historic Society of Old Yarmouth. The oldest section of the building was built in 1740. The main section was added in 1840. The site is named after Captain Bangs Hallet who lived there after retiring from the China trade and acquired the house from Captain Allen H. Knowles in 1863. Captain Bangs and Anna Hallet occupied their retirement home until their deaths in the late 19th century. Today, this sea captain’s home, the only one on Cape Cod regularly open to visitors, provides an intimate glance into 19th century family life. The parlors are arranged as if the captain was just returning from his voyage to China, likely 16 to 18 months duration. His gifts of silk fabric, toys, porcelain, lacquered pieces and tea are on display as well as costumes from the period. Admission to this historical site is $3 for adults and 50 Cents for children.

If you are thinking of making the cape your home, call Scott Cash at 508-534-5702. Scott is a 13th generation Cape Codder. You can view all of Cape Cod’s wonderful homes at www.cashoncapecod.com.

Posted By: Scott Cash


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February 26, 2009

KNOW THE DIFFERENCE?..

Posted to Peter Hawley

I was driving to my office in Falmouth, Mass. where I Sell and List Real Estate, (www.peterhawley.com) listening to the morning news, so I can feel fully informed or just frustrated with world events, ever the optimist, I believe news is news and how I choose to interpret it makes it either good or bad. I only like to thinks in terms of good.

What struck me was the discussion of cutting the deficit, spending more than one brings in, which is a good goal, but running a deficit adds to our debt, which is not a good thing.

It is debt and the cost to carry that debt that gets people in financial trouble and the elimination of debt should be the goal of all of us. Yes, when we carry a mortgage that is a debt. The monthly investment we make in our homes is most often required so that we can work toward complete ownership. The amount of that investment is calculated on our monthly earnings and must be at a level that one can make comfortably.

From time to time, we all deficit spend when confronted with an unexpected expense, that just must be addressed, like a home repair, an appliance replacement, work on our cars to keep them running. If we have not saved money and are not prepared for these contingencies, then we do what we have to do. Our goal must then be to eliminate this debt as quickly as possible, and to do so may require cutting back on other monthly spending. One needs to remember that debt has a cost in addition to the amount borrowed, and that cost mounts each month we carry it, possibly getting us further in debt and sometimes more than we ever expected.

The simple answer of course is to live below our means, which can be accomplished with some planning and discipline. Often I have a client visit with me, wanting to purchase a property, and my first question always addresses their present debt load. Although they may think they can comfortably handle their present debt payments, often this is the very issue that will keep them out of the market. These are the folks I call “works in progress,” and my job is to work closely with them, preparing a strategy that will get them in a position to buy. I want my clients to buy; that is how I make money, but I also want them to be able to stay in their homes for a long period of time, so they will get a return on their investment in addition to daily use.

I am available at phawley@jackconway.com to discuss where you might be today, so we can work together and plan for tomorrow.

Posted By: Peter Hawley


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February 25, 2009

IT’S TIME TO THINK “FUN IN THE SUN”!

Posted to Beverly Comeau

My darling cousin sent me an email yesterday- an invitation to a BBQ. Several pages followed- of the site of the BBQ- on an island- crystal clear water surrounding my accommodations- background calypso music- I was mentally there! If you have received this invitation you know you cannot accept it!

This year we plan to stay close to home- how fortunate we live where most people pay to visit! This is the week for securing your Cape Cod vacation rental. And for some, it may be the best time to BUY a Cape Cod rental property by the sea- a place for you and your children and grandchildren to come together- a place to rent for a few weeks to help with mortgage payments - a place you can retire to when the timing is right.

5 Reasons to buy Cape Cod real estate now:

  1. Cape Cod is a premium real estate location.
  2. Buyers have choices of properties with new inventory coming on the market every day.
  3. Buying now and renting it out can mean building equity at a low interest rate.
  4. Sellers have adjusted to current market conditions making prices more affordable.
  5. Cape Cod offers a good long term investment in your portfolio.

Ask yourself: Is Cape Cod real estate a better investment long term than the stock market? If you can answer yes, call me, Beverly Comeau, at 508-364-0084 and let your search begin. You can search all Cape Cod homes for sale at www.BeverlyComeau.com.

Posted By: Beverly Comeau


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February 24, 2009

Some Falmouth, Mass. History

Posted to Peter Hawley

For those who occasion to read my Blog, I often refer to my office located in Falmouth, Mass., which Jack Conway & Co. owns and where I plant myself to List and Sell Real Estate each day. (http://www.peterhawley.com).

There is interesting history of the building, now the Jack Conway & Company, Falmouth Office, located at 93 Davis Straits, Falmouth, Mass.

The structure, now occupied by Jack Conway & Company as a Real Estate office, was built in 1880 on the Colonel Dimmick estate. It was built and occupied for 16 years by Andrew W. Davis until 1896. Mr. Davis, a native of Falmouth, was a master mason for 35 years. He took and executed with great satisfaction, contracts for some of the largest and most expensive residences of his time.

Andrew built this house east of his cousin Emma’s farm and the roadway between Emma and Andrew’s house became known to the villagers as Davis Straits.

Architecturally this is typical of many homes on Cape Cod, a very simple front gable two-story house. The front porch is a later addition, but with turned posts in keeping with the style. A little farther east on Route 28 are three similar houses all built within a 20-year span. They are among a half dozen left along a road which used to be all houses and farms; several like this one, are now offices or stores.?

The above information was researched by Mary Sicchio for Peter B Hawley, the Falmouth Manager, from the archives of the Falmouth Historical Society.

The original Barn is still in place and is now a retail store. When you come to visit Falmouth, Mass., please stop by our office. I am always available to provide professional real estate service, and may be easily reached at phawley@jackconway.com.

Posted By: Peter Hawley


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February 18, 2009

Great News for First Time Home Buyers?

Posted to Falmouth, Massachusetts, Peter Hawley

I am trying to digest all the news coming from Washington, D.C., and there seems to be many things going on, and still more to come. I do know that the First Time Home Buyer Program has had a significant change. The first being the Tax Credit has been increased from $7,500 to $8,000. It is a complete Credit, with no pay back, which the previous rules required. This program will be available for those who purchase through December 2009, so there is a small window of opportunity to take advantage of this FREE incentive.

Here in Falmouth, Mass. where I Sell and List Real Estate, (www.peterhawley.com), there has been an increase in the number of people looking for property. Now with this $8,000 Tax Credit available, Interest Rates for Mortgages in the low 5% range and possibly going lower, and a great inventory to select a house from, those who have the long view, meaning staying in a property for 5-plus years, this is the time to purchase.

It always seems Real Estate Agents say that, it is a “Great Time to BUY,” but if you review the facts, it is a Great Time to Buy. With the increase activity of people house searching, the better opportunities are available for only short periods of time. Bank owned properties receive multiple offers and are moving. This is the segment of the market that offers real opportunity for those who have the long view. Buyers might be able to provide the TLC to those properties that have ?good bones? and with some time and effort again can sparkle.

Will there be other buying incentives coming from Uncle Sam, we need to stay tuned to see what else might appear on the horizon. I am confident that any new incentives will be retroactive to the beginning of 2009, so one does not need to be fence sitting, one needs to identify the properties that best meet their needs and take action they may be available next week.

Please contact me at phawley@jackconway.com or call my direct line at 508-444-4057, to set an appointment, so we may work together and find you an OPPORTUNITY to BUY!

Posted By: Peter Hawley


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