November 20, 2008

Accepting What Is??

Early this morning I was greeted with the first snow squall that swept across Cape Cod, and as I headed to my office in Falmouth, Mass. where I list and sell Real Estate, (www.peterhawley.com), the fields and marshes were dusted with what appeared to be sugar. I am not sure if I am ready for this change in weather, I heard the snowmaking machines are cranking out the powder in Vermont and New Hampshire and Maine, so there is a good start to ski season in the North Country.

Just as I am not sure I am ready to accept that winter has arrived, many in the Real Estate have not accepted the market has changed, and is going to continue to change, and I submit we will be better off if we accept what is and get on with the business at hand.

From Sept. 1 to Nov. 19, 2008 according to the CCIAOR MLS, in Falmouth, Mass. 77 Single Family homes have Sold. There were 411 Single Family homes on the market Nov. 19. This means that over 18 percent of the inventory has been Sold, and although there are markets throughout the country that have had little movement, Falmouth, Mass. continues to have a strong Real Estate market.

The other statistic I find interesting is the percentage difference between the last Listed price and the Sold price, and during the same period mentioned above, that percentage was 92.77 percent. That is a little over a 7 percent discount, which indicates that Buyers continue to see value, are buying, and looking at their long term goals in a positive way.

The message to Sellers is very clear, accept what is, those properties priced correctly are in fact selling, and you might review your market position at least every 30 Days. I am available at phawley@jackconway.com to assist you in meeting your goal of either Selling or Buying property.

Posted By: Peter Hawley