Falmouth, MA

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 to be highlighted:

1. The Board knew from day one that even though the complex was new, the day would come when repairs would be needed.

2. A Long-range Repair and Replacement plan was adopted and money was set aside.

3. The funds were invested conservatively. When stocks were rising wildly, the fund did not grow as fast as some would have liked. When the market tanked, however, the fund was barely touched.

What spurred this entry? Today the main road was repaved. No, there was not just a top coat applied; the old road was removed and a new one put in its place. And most important: there was no special assessment.

The Second Annual Spooktacular is happening this Saturday from 2pm to 5 pm rain or shine! Parents or guardians are asked to accompany their kids as they peer into the Main Street shops and businesses in search of jack-o-lanterns and ghosts. All participating ghouls, goblins, princesses, and pirates will meet at the Mullen Hall bus loop and/or in the Mullen Hall cafeteria to kick thins off.

Please bring a non-perishable food item for the Falmouth Service Center. AND don't forget to bring in your boxtops! There will be "Graham Cracker Haunted House Construction" opportunities and a costume sale!

Some shops and businesses on Main Street will be "hiding" a small pumpkin in their window. Some special shops will have a ghost hiding, too. The goal, besides getting kids to have fun in Falmouth, is to bring families to Main Street so they can stay aware of what shops and services are available in the fabulous Village of Falmouth!

I bet you can guess where one pumpkin will be in a window!

Questions can be emailed to MullenHallPTO@falmouth.k12.ma.us or you can call Lyn Cenzalli 508-846-6297.

Have you ever wondered where the 40B (low income) developments are in Falmouth. The list below was provided to real estate professionals recently. The list includes the developer/applicant, acreage, zoning information, number of units, etc.

Some people don't want to be in or near a 40B subdivision. Their perception is that a 40B development is like the infamous "projects" so many cities have. But, this is not correct.

A 40B project is known as a "low income" development. This is not the same as Section 8 income assistance. In a 40B development, 25% of the properties for sale are made available to buyers who have an income below the average for the area. Those buyers still have to qualify for a loan, with good credit, an income, etc., but they are given a "break" on the purchase price of their property. Often, the discounted properties also have deed restrictions relative to when the buyer can re-sell and sometimes even what profit they can make.

If you have questions about 40Bs and how they affect your property in Falmouth, send us an email capegroup@capegroup.com.

Here's the list.

Best wishes, Heath

(While this information is specific to Falmouth, MA, a smart investor will take note and include the information as they research property in other locations.)

In the town of Falmouth, we occasionally have property for sale with "Accessory Apartments". This means that besides the main residence there is an attached or detached "other" residence on the same property. While there are many Falmouth residences being used as accessory apartments, not all of them are approved by the town.

What does approved have to do with anything? Approved is a protection for tenants, owners, and even lenders. Without town approval, a property may not be able to be insured correctly. This could be a problem for the owner if they need to repair something, it could also be a problem for a tenant if they have a health or safety issue on the property. Lenders want to keep the property in it's best condition, and they don't want complications with insuring a property they are lending on.

The following lists were provided to real estate professionals at a recent meeting with the Town of Falmouth Board of AppealsZoning Administrator, Sari Budrow. This list is from 2007, and it is apparently the most recent completed list that the Board of Appeals has.

If you believe you have an accessory apartment on your property in Falmouth, MA, and you do not see your address on this list, I'd call the Board of appeals and see what you need to do to bring the property into compliance. It could save you some headaches in the future. You can also look at your tax bill to see how your property is described, although the tax department and the other departments do not always communicate well.

Best wishes, Heath

Monday November 23rd 7PM the Falmouth High School faculty and staff will exchange their good reputations for your contributions for to the Falmouth Juniors' Class Fund. It will be held in the FHS Auditorium and all seats are genera admission. Get there early to avoid standing in the back!

Tickets will be available at the door. Admission is either $5 or $4 and a canned good for the Falmouth Service Center. While the Juniors like to support the Falmouth Service Center, they also hope you'll contribute to their class fund which helps with prom and graduation costs. Come see teachers and staff dance, sing and generally make fools of themselves.

All funds collected will go to support the Class of 2011. Donations of food will go to the Falmouth Service Center.