Plymouth, MA

Is there trouble on the horizon for the multi-million dollar Hollywood East - Plymouth Rock Studios project? It was announced yesterday, that Plymouth Rock Studios has canceled their agreement for the big construction loan that would have allowed the studio to break ground in the next few months on their studio complex. It sounds like they are back to the drawing board and are exploring other alternatives.

As reported in the Patriot Ledger, "the studio is optimistic that they will be able to obtain more favorable financing terms now that the economy has shown signs of improvement." I would like to believe that this is the case, but then there is reality.

Is there anyone out there that wants to provide a construction loan for a multi-million dollar state of the art studio complex?

Did you know on this day, November 11, 1620 - The Mayflower anchored in Provincetown Harbor and many passengers began settling in New England? Check out the Timeline of Plymouth Colony on the Plimoth Plantation Website.

What does Hollywood East have to do with the settling of the New England Colonies? Nothing, but this project is a pilgrimage of sorts. Best of luck Plymouth Rock Studios, may you find a financial backer that sets your project sailing.

Hollywood East - Plymouth Rock Studios reaches another significant milestone. A recent press release indicated that they have made it over another hurdle and continue to move forward toward their goal of building their state of the art movie and production studio in our own hometown of P Plymouth Massachusetts.

to read the full story visit the latest Plymouth Rock Studios Press Release

For further information on Hollywood East and Plymouth Rock Studios see my previous posts:

Hollywood East - Plymouth Rock Studios Obtains Financing
Hollywood East - Master Plan and More
Hollywood East - Dream is Getting Closer to Reality
Hollywood East - Hosting Acting Forum April 1st
Hollywood East - Plymouth MA - Estimated Timeline
Plymouth Rock Studios Forms Another Alliance
Hollywood East The Road to Plymouth Rock Studios
Hollywood East - Feel The Action
Hooray for Hollywood - East
Hollywood East in Plymouth MA

Single Family home sales have declined over the past three quarters of 2009 in Plymouth when compared to the same time period for 2008. First quarter started off with 655 listings, 93 sales and an inventory supply of 21.1 months.

Second quarter had an increase in inventory (+30) along with a slight increase in sales (+24) thus reducing the months supply to 17.5.

Third quarter saw an increase in inventory (+88) plus an increase in sales (+25) putting the months supply to approximately 16.3.

Note: I have changed the above data since I first posted. There was an error in my formula and the inventory levels actually increased. Sorry for any inconvenience.

Average sales price in Jan 2009 was $275,579 vs. $478,200* in 2008 (-42.4%)
*5 properties sold over $700,000 in 2008

Average sales price in Feb 2009 was $251,514 vs. $328,531 in 2008 (-23.4%)

Average sales price in Mar 2009 was $262.817 vs. $428,149* in 2008 (-38.6%)
*4 properties sold over $700,000 in 2008

Average sales price in Apr 2009 was $326,010 vs. $350,531 in 2008 (-7%)

Average sales price in May 2009 was $293,323 vs. $338,124 in 2008 (-13.2%)

Average sales price in Jun 2009 was $308,113 vs. $341,376 in 2008 (-9.7%)

Average sales price in Jul 2009 was $297,179 vs. $379,428 in 2008 (-21.7%)

Average sales price in Aug 2009 was $339,811 vs. $350,916 in 2008 (-3.2%)

Average sales price in Sep 2009 was $356,923* vs. $309,387 in 2008 (+15.4%).

*2 properties sold over $1,200,000 in 2009

Plymouth sales have actually decreased by 17 from the beginning of the year through the 3rd quarter of 2009 as compared to 2008, the average sales price in Plymouth Massachusetts has dropped by 18%.

One thing to take into consideration is that Plymouth is such a large town and prices can vary significantly from a small season cottage under $100,000 to a luxury home over $2,500,000 +/-. If you would like more detailed information for a specific area, let me know.

Single Family home statistics for the month of October is showing 390 current listings (23 of these are flagged with some type of contingency), with 2 under agreement, and 3 sold to date.

With the $8,000 tax credit nearing the deadline for closing on or before November 30, 2009, it will be interesting to see if sales spike in October and what impact it will have on pricing. Stay tuned.

Southeastern New England is waiting for the final words that will tell the world Hollywood East is an actuality. For years the project has been planning, organizing, and promoting the possibility of a new, highly technically relevant movie studio and production facility.

The funding for the project is the last hurdle in the future of the Massachusetts movie industry's effort to encourage movie making and production in the Bay State. Plymouth town residents are watching for developments like a Red Sox fan watches a possible no hitter developing.

This is the month of decision. When the funding comes, Massachusetts will become the place for a new revolution. They are looking for one if by email, and two if by telephone.

It was a grey kind of day for the kick off of the Jazz & Blues Festival at the Pinehills in Plymouth MA today. However, regardless of the bleak weather, there was a decent gathering at the Village Green.

It was my good fortune that I was in the area to be able to catch a good portion of the set performed by, Next Exit. What a pleasant surprise. They are a group of very young men from Sandwich High School. A source mentioned that members of the band also play with other groups, and have played at other events and private functions. They were very pleasant on the ears and had a great deal of talent.

Band Members Include Luke Martin - Lead Guitar Sean McGonagle - Violin, Guitar Dana Murphy - Bass Guitar Tyler Dennis - Drums Gavin Jones - Saxophone

If you were lucky enough to be there, then you know exactly what I am talking about. If not, the name of the group is Next Exit from Sandwich MA. You can book them for functions, and you can contact them by phone 508-833-6191 - or Email: EpiAcat32@aol.com.

If you would like to visit the Pinehills on Sunday, September 13th from 1:00 to 5:00 p.m., you can enjoy day two of the Jazz & Blues Festival. It is free to the public and certainly worth attending. The venue for Sunday includes the following artists: Mark Zaleski Band - Rocco and the Stompers - Deborah Henson-Conant. It appears the weather will be much better for an outdoor event, so please check it out.

Pinehills is a "lifestyle" kind of community. It is something quite unique and definitely worth exploring. Give me a call if you would like a personal tour.

Meanwhile here is a brief video of some of the features of the Pinehills community.