Winter Market Report 2009

Winter Market Report 2009

OPPORTUNITY TIME!!!

This is truly opportunity time to buy a home on the Cape for less money than in the previous few years and at an interest rate that is most attractive. One of our local banks quoted a 30 year fixed rate mortgage today...with no points...of 4.87%. Many homes are listed at around assessed value or less, especially if they have been on the market a while.

As you will see by the charts below, there is quite a large amount of inventory to choose from. Homes are staying on the market longer, which means motivated sellers will no doubt keep lowering their asking prices.

I have included list and sale prices for all the homes that have sold in Chatham during the past few months. This should be interesting and informative for you to look at and help you have an idea of what is happening here on the Cape and especially in Chatham. While prices are down a bit, we are fortunate not to have many short sales and foreclosures here in Chatham as well as Orleans, Brewster and Harwich. This means our area is considerably more stable than many areas off Cape, and while good buys are available here, they are also good investments that will keep their value and appreciate as a rule.

If you are thinking of selling your house and it shows well and is in good condition and you are willing to offer it at a competitive price, by all means list it. However, if you are waiting to get the type of price prevalent several years ago...that may not be likely...and we anticipate it will take several years to return to those prices. Do keep in mind the cost of heat, insurance and mortgage payments and other incidental expenses you will have to be paying in the meantime.

If you would like additional information on other towns, please go to the company website... www.raveis.com and on the home page on the left side on the bottom, there is a key to click that will give you more to peruse.

I hope you will find this information helpful. Do call or write to me and I will be happy to help you find your very own piece of Cape Cod!

Evelyn Doane®

www.ChathamByTheSeaWithEvelyn.com

William Raveis Real Estate Company

37 Cross Street

Chatham, MA 02633

edoaneccod@comcast.net

508-237-1629 cell

These opinions are those of the author and are to help you make an informed decision.

Homes Sold in November, 2008

Address Bedrooms List Price Sale Price Days on Market

75 Emery 3 1,745,000 1,616,650 225

26 Baileys 3 849,900 800,000 236

20 Teaberry 4 650,000 615,000 322

61 Meadowbrook 3 499,000 520,700 27

47 Wequasset 3 299,900 285,000 50

November Averages 3 808,760 767,470 172

Homes Sold in December, 2008

86 Capri 4 3,495,000 3,025,000 354

3 Windsong 4 1,075,000 950,000 136

109 Cockle 3 895,000 850,000 101

75 Indian Hill N 3 510,000 495,000 280

28 Lakeview 3 539,000 490,000 148

20 Chatham Heights 2 489,000 436,000 221

49 Florence 2 369,000 340,000 140

107 Heritage 3 325,000 310,000

December Averages 3 962,125 862,000 197

Homes Sold in January, 2009

107 Seaview 4 879,000 879,000 263

370 Stage Harbor 3 749,000 700,000 106

98 Deep Hole 3 539,900 500,000 189

65 Eliphamets 2 449,900 425,000 149

26 Evergreen 2 399,000 353,250 434

159 Holly 2 355,000 340,000 43

January Averages 3 561,967 532,875 197