About Barnstable County, MA

Preliminary CC&IMLS Statistics for October 2009

Single Family | #Sales | Median | $Value | DOM

• October 2009 | 330 | $336,700 | $154,029,292 | 150
• October 2008 | 296 | $337,250 | $155,716,315 | 157

Condominiums

• October 2009 | 79 | $260,000 | $20,972,155 | 224
• October 2008 | 79 | $259,500 | $21,961,262 | 192

All Sales

• October 2009 | 431 | $184,528,417
• October 2008 | 393 | $183,596,997

The Information shows an uptick in volume!

Should you get a septic inspection?
It is extremely important to have a proper, thorough, inspection of the septic system components if you are buying a home with a septic system. Unfortunately for many home buyers, the typical brief septic inspection tells you very little about the real state of the septic system. In my state, the tank is uncovered and viewed, and the scum level and depth is noted. A diagram is drawn indicating the location of the components. Septic inspections for the sale/purchase of a home is a limited visual inspection to determine the condition of the septic field and function of the sewage disposal system.

In some parts of the country, septic inspections are paid for by the sellers and in others, the buyers have to do their own inspections. As part of the home inspection process, in my part of the country sellers provide the septic certification. My state requires an inspection before a closing can occur. It does not require a functioning system, only a test. In other states, the inspection is optional. When the system is not functioning properly, the parties negotiate a correction acceptable to the parties involved.

The importance of a septic inspection.
If the house has a private septic system it should definitely be inspected by a professional septic contractor. An improperly functioning system can be a messy health hazard. If you are already working with an agent, ask the agent for names of local, dependable home and septic inspection companies, then contact several companies or visit their company websites to learn what services are offered and to ask about rates. Sometimes yu can arrange to have a septic inspection company present on the same day as the home inspection which makes it easy to attend both inspections. If the septic inspection is scheduled on a different day from the home inspection, you may want to be there. In my state, a records kept of past inspections and pumpings, so you can check on the history of the system before the inspection. Also, if you have a private well and a septic system it is be a good idea to have a water test as well as a septic inspection. In my state, most lenders will require a well test anyway.

The septic inspection should be completed and reported to the parties early in the negotiation process. Both the buyer and the lender have an interest in the operation of the existing system. Occasionally a repair or repacement is necessary. Banks usually won't lend unless the system is good or scheduled to be made good. In my state, a system can be repaired upto two years after title changes to a new owner. How the system is corrected and when is left up to the parties involved. My experience is that lenders will "hold back" an amount equal to one and a half times the estimate for the fix. Once it is fixed, the bill is paid from the held back funds and any excess is distributed according to the agreement between the parties.

Home Value Update for Hyannis MA Through September 2009

According to Zillow.com, the listing prices of single family homes have increased 0.2% in the last 3 months, while listing prices of condos increased 2.1%. The current mean listing price of homes for sale on the market in Hyannis, MA, is $385,000. Below is a chart of the trend of listing prices of homes for sale in Hyannis, MA, in the past year through September 2009:

If you're looking for a home or condo to purchase in Hyannis, MA, or in the surrounding area, then try this home search.

You can still buy a home with no money down with the USDA Rural Development Home Loan program. With the FHA Mortgage program, you can purchase a home with as little as 3.5% down. When you're ready to buy a home, find out how much home or condo you can afford to purchase in Hyannis, MA, or in the surrounding area.

Coastal sand dunes are fragile areas along a beach and are vital to the preservation of beaches as they help to limit soil erosion. The blades of grass keep the sand from getting blown away by the wind.

So when using the beaches what can we do to protect the ecosystem so that future generations can enjoy the scenic beauty?

• Avoid walking on the dunes
• Don't ride your bikes or any vehicles on dunes

I don't think this is too much to ask.

Jennifer Fivelsdal- Associate Broker- Keller Williams Realty Team - 845-758-6842- jennifer@jfivehomes.com and www.jfivehomes.com

Single Family home sales have had a modest increase over the past three quarters of 2009 in Bourne, Massachusetts. First quarter started off with 238 listings, 24 sales and an inventory supply of 29.8 months.

Second quarter saw an increase in inventory (+18) along with an increase in sales (+14) thus reducing the months supply to 20.2 which is a significant reduction from first quarter.

Third quarter also had an increase in inventory (+18) plus an increase in sales (+10) putting the supply down to 17.1 months.

Median sales price in Jan 2009 was $249,950 vs. $635,000* in 2008 (-60.6%)

*1 property sold over $1,200,000 in 2008

Median sales price in Feb 2009 was $268,450 vs. $414,900 in 2008 (-35.3%)

Median sales price in Mar 2009 was $299,500 vs. $325,425 in 2008 (-8%)

Median sales price in Apr 2009 was $339,000 vs. $285,000* in 2008 (+18.9%)
*6 properties sold under $250,000 in 2008

Median sales price in May 2009 was $347,500 vs. $311,000 in 2008 (+11.7%)

Median sales price in Jun 2009 was $312,000 vs. $309,500 in 2008 (+0.8%)

Median sales price in Jul 2009 was $305,000 vs. $360,000 in 2008 (-15.3%)

Median sales price in Aug 2009 was $255,000 vs. $284,750 in 2008 (-10.4%)

Median sales price in Sep 2009 was $244,750* vs. $375,000 in 2008 (-34.7%).
*8 properties sold under $250,000 in 2009

Bourne sales volume has decreased by 8 through the 3rd quarter of 2009 compared to 2008, the Median sales price in Bourne Massachusetts has dropped by 14.8%.

Single Family home statistics for the month of October is showing 164 current listings, with 6 under agreement, and 8 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 November and what impact it will have on pricing. Stay tuned.