Scituate, MA

Real Estate in Scituate, MA

Market Report

and Thoughts on the Economy

January 2009

The current conditions here in Scituate remain steady. The final numbers for 2008 reflect an overall decrease from ‘07, but still better than "our worst year" - ‘06. To put the course of Scituate's single family home sales in perspective, I went waaaay back - to 2002. Sometimes it helps to see the big picture:

To put these numbers into perspective, let's look at Scituate compared to Plymouth County (2004-2008):

See that nice steady line? Note: A neighboring community - Cohasset - is located in a different county(??) and is not included in these numbers. Like Scitate, Cohasset is also showing steady sales. Let's look at the numbers with another neighboring town that is NOT doing great - Marshfield:

In order to view the line more clearly, I added 1,000 to Marshfield numbers so the picture is clear...

This last quarter in ‘08 was fairly quiet. The current inventory is pretty low. Much lower than the usual Holiday lull. I am beginning to see more buyers than sellers. Could this mean a demand is looming? THAT hasn't happened in a very long time.

What about home values? Our prices are back to 2004 levels. While that may seem like bad news, you must remember that prices increased by DOUBLE DIGITS for a long time. People seem to be forgetting this. We were never going to be able to sustain those levels. Isn't it GOOD news that the home you bought in the early 90's HAS DOUBLED IN VALUE? And if you bought in the last few years, don't despair. Your home is still the best long-term investment you can make. I don't see the current price deductions occuring daily to be any sign of further devaluation. These are simply homes that, for whatever reason, must sell. No, only a few are short sales. Scituate's short sale/foreclosure rate is much lower than the national average.

Finding it difficult to make your monthly mortgage payment? Be proactive. Get OUT of your ARM now! Contact your lender and work out a reasonable plan. If your lender is not cooperative, you have options. In fact, any lenders not willing to cooperate right now are ridiculous! We are fortunate to have a voice right here in Massachusetts - Rep. Barney Frank. He would probably love to know about your uncooperative lender ;)

Need a financial plan for 2009? Hurry and download Suze Orman's Action Plan for 2009 by January 15th for free! Go to Oprah.com. A lot of us have lost money due to the stock market. We need to rebuild our portfolios and be smarter about investing. Do your homework now so that you can be prepared for upcoming changes in your life i.e. college, retirement, caretaker, etc....

The next few weeks will be anxious - January is a good gauge for the coming year. Most divorce proceedings (sadly) begin this month. And folks who have entertained over the Holidays realize that their homes are too big or too small and begin the process of looking for another home that better suits their needs. Sons/daughters seem to be settling into college life and the parents start the mournful (or jubilant!) empty nest process. The snow birds who are getting ready to depart for Florida come to the realization that they really don't want to ever come back....

So, let's see what this new year brings. I remain positive. And the calls from sellers is rising this week already...

MAKE it a Happy 2009!

The Best (sort of) Scituate, MA

Part 1

There were two recent events that led me to write this particular blog...

The first was the release of a local magazine's BEST OF list for the South Shore. The other, a family vacation to historic Williamsburg, VA.

The magazine's list covered many different categories. For some categories, there were two picks - one, the "Editor's Choice" and the other from reader submissions. I found that I did not always agree with these picks, however, it got me to thinking about MY personal favorites...

The trip to Williamsburg was great and our family really had a terrific time. There were times during the week, however, where we really wished to have some guidance. Places to eat, things to do, what else should we see, etc... There were plenty of pamphlets to read, hotel concierge to ask, however, we did what most folks do - ask other tourists and most definitely, ask the locals.

To that end, herewith is MY list of the "Best Of Scituate, MA" - totally biased (Note: I have not been paid by any of these vendors, although I would not turn down any offers J):

Fun Shopping Experience: Sylvia's By The Sea in Scituate Harbor on Front Street. I never seem to have nearly enough time to browse. Sylvia takes the time to really make sure she has a vast selection and has a keen eye for the latest/greatest items. I'm usually in too much of a rush looking for the perfect kid's birthday gift, or that special gift for a client, etc... The store is set up perfectly - every two feet, it seems, has something new and/or exciting. Sylvia has recently added an adjoining clothing boutique - I'll have to check it out soon!

Fine Dining Experience: The Barker Tavern remains a local favorite restaurant AND is a popular location for wedding receptions. The restaurant is a fully restored home from the 17^th century and exudes a unique colonial charm. I would suggest making reservations for Friday/Saturday evenings (781 545-6533). Want the ambiance but more informal? Head to Eli's Pub to the left of the main entrance. Tip: Go early and sit at the bar. Same menu as the main dining room, but smaller portions and smaller price. If you are lucky, Kathy will be your bartender! My favorite is the grilled swordfish...

Casual Dining: The locals flock to the Satuit Tavern for some of the best fried clams ever. Don't be surprised if there is a line... My daughter loves the fried shrimp. Not a seafood lover? The menu offers a good variety of alternatives. While I am not a fan of the "Keno" numbers that flash across the T.V. screens in the dining room, the service more than makes up for it. The staff is quite friendly and will be happy to make suggestions.

Breakfast: Let's face it - we love the fact that our town is NOT commercial (no McDonalds or Burger Kings here!), but we actually have TWO Dunkin' Donuts! Still great for coffee and doughnuts/muffins on the go. I've lived here long enough to remember the Chinese restaurant in the harbor called "The Flounder's In" that actually served a Fantastic breakfast on Sunday mornings. Alas, I cannot honestly recommend any that I've found here since if you are seeking a sit-down brunch. I'd be happy to take suggestions, but I think I've tried them all...

Lunch: Circe's Grotto in North Scituate Village is a treasure. From paninis to salads it is fantastic. My favorite is the mixed green salad with gorgonzola. They also offer a delicious chicken salad and a wide variety of "not your typical deli" sandwiches. Homemade soups and freshly baked breads are also specialties....

Beach: Minot - North Scituate. Why? Big rocks and tide pools to explore for the kids. Long stretch of beach for a good walk. Popular spot to meet up with other mothers and while away the hours catching up...

Ice-Cream: Harbor Scoops has become my favorite for it's location. Located inside the new Movie Theatre, it offers air-conditioning for the too hot days, and a small outside terrace to enjoy your ice-cream overlooking the sights/sounds of the busy Harbor on the not so hot days. Since I'm perpetually on a diet, I ease my guilt with the mint chocolate chip frozen yogurt....

Jewelry: I am the type of woman who enjoys anything "different" when it comes to jewelry. I don't WANT what everyone else is wearing and I'm not afraid to add a little "whimsy" now and again. Sand Dollar Designs by Susan Ohrenberger McCowan is the best at creating that absolutely one-of-a-kind item. Not just another "bead" lady, Sue is extremely creative and has a unique flair for crafting pieces that become exclusively yours. She also offers great ideas for personalized gifts for Mother's Day, Brides/Maids, First Communion, Graduation, any special event. I cherish my Mother's Bracelet featuring the months of not only my kids, but also my husband and our anniversary. Sue worked with me and made suggestions on how to incorporate all the various colors - absolute perfection...

Fido's Best Friend: Everyone loves their pets and wants to know that they will be taken very good care of when they are away. Martha of Pawsitively Purrfect Pet Care not only does that, she genuinely really likes animals and it shows. A kennel cannot even comes close to the level of care she provides - she has even been called upon to give dogs/cats their daily injections/medicine. I have heard that most dogs get angry when their "people" go away and show it upon their return. Not our dog - Scooter absolutely adores Martha! 781 545-PAWS.

The Lawn is Always Greener...: With the move toward a more eco-conscious world, it makes sense for all of us to consider the earth when landscaping.... Global Green Landscape has been making our world a little greener for over 15 years. They have been "going organic" long before it became popular. Skip and the crew offer the BEST in service. His wife, Karen, launched her own business to show off your fantastic landscaping with Firefly Landscape Lighting several years ago. This "low voltage" system provides safety, security and excellent curb appeal.....

Part 2 -coming soon! Many more categories to think about - still time to let me know if there are any I should consider....

Every year on the first weekend in August, our quaint seaside town celebrates our heritage. A whole weekend devoted to celebrating our history. Happy 472nd Birthday, Scituate! One of my favorite events is the Luminara Display along the entire coast on Friday night. Volunteers light candles (mostly in plastic cut out milk containers filled with sand) every few feet. The best way to view this is from the water (probably even better from the air!) Another event we always enjoy is the releasing of the Butterflies. A sight to behold.... Both Saturday and Sunday, Front Street in the Harbor is closed and there are all kinds of vendors selling unique and fun items. There are band performances (FAT CITY BAND!) and a few years ago they added rides for the kiddies over on Cole Parkway. I am always amazed to see all of the tourists who flock here that weekend. They almost always say "What a great town to live in!". I couldn't agree more.....

There are many of us who take for granted what happens when we flush the toilet, turn on the faucet, take out the trash....... I was happy to see my 5th grader go on a different field trip last week - to the fun and fabulous waste water treatment plant! I thought it a great idea and kudos to the Jenkins teachers/staff for making these arrangements. Did they learn anything - lots, but more importantly, it sowed the "seeds" to helping them THINK about our environment and our precious Earth.

Other GREEN news. Scituate will be helping it's residents to dispose of hazardous waste this Saturday, June 14. Bring items to the DPW Highway Garage located at 68 Captain Pierce Rd. (near tracks). Use the following guidelines:

Accepted:

From the workbench:
Oil based paint and Stains
Hobby/Artist Supplies
Photographic Chemicals
Fiberglass resins
Adhesives

From the Garage
Flammable liquids and aerosols
Gasoline, motor oil mixtures
Automotive fluids
Tire and carburetor cleaners, degreasers
Marine and auto paints

From the shed:
Pesticides, herbicides, fungicides
Fertilizers containing pesticides
Pool chemicals
Cesspool cleaners
Wood preservatives

From the house
Mercury, including thermometers and thermostats
Drain cleaners
Moth balls and crystals
Hazardous cleaners and polishes
Poisons
Acids and bases

Materials not accepted include:
Latex paint and driveway sealer
Alkaline batteries
Radioactive materials (including smoke detectors)
Nonfriable asbestos
Pathological and medical waste
Pressurized gas cylinders * (including fire extinguishers)
Lead acid (automotive) batteries *
Explosives (call your local Fire Dept.)
Industrial waste

Another item in the good news depart

ment. Scituate has begun the next phase in finalizing plans to install our first wind turbine! We are getting closer to a "Sustainable Scituate"! Kudos to many in this town who have taken the lead on this and many other initiatives. From committees to create walking/bike trails, to groups focusing on recycle bins at recreation fields, clean-up days, etc.... These volunteers give their valuable time and are dedicated to making Scituate a local leader in GETTING GREEN!

Steady as she goes! I am always bemused when I see the look on locals faces when they hear that our market conditions right now in Scituate are good. They seem very surprised - as well they should be... The national "doomsday" media has them all believing that the sky is falling yet again. While we were not unscathed by the foreclosure/down market, overall, we are remaining steady with sales. The new commuter rail has been a great added benefit and has drawn many from the Boston area. Gas prices have increased ridership substantially. Soon, families will be going back to the old days of a one-car family with Daddy taking the train... Cohasset is also doing well. The condo market has slowed considerably. My buyer clients are not remotely interested in them. Even those that are great deals are not seeing the activity they should. Norwell single family homes are not fairing very well. Not sure why. Could be the coast draws more interest? Although, that would not explain Marshfield ;) sales also being down. The summer market will hopefully see the continuation of activity.