This data comes from the assessed town values from The Town of Bourne website and the selling prices of homes comes from our local MLS (multiple listing service). In 6 months in Bourne, MA, from 12/29/08 to 5/29/09, there were 54 properties sold. Just 10 sold over the town assessment. The rest sold under the towns assessment - and, in some cases, significantly under. I know this is not an exact science but we had new town assessments that came out last Fall and they were lowered for most properties (except for waterfront properties it appeared). I thought that current sales prices might be pretty close to the latest town assessments. They weren't. I know it doesn't really 'mean' anything, but since the Buyers are looking at assessed values, and in the interest of keeping my Sellers informed, I thought I would look at the data and I certainly did find it an eye opener.
1. The volume of traffic increases.
2. My favorite ice cream shops open...Betty Anne's and Whistle Stop.
3. My kids go bridge jumping.
4. Our neighborhood association holds it's opening meeting and I see neighbors I haven't seen all year.
5. My summer rentals start and I meet some nice new people.
6. We take the boat out for a ride and stop at the beach for a while.
7. I have to go to Christmas Tree Shops for more suntan lotion and beach chairs.
8. My houses for sale get more showings because people start thinking if they are going to buy a Cape house, they should have it for the summer.
9. I can sit on my front porch and read the paper, or watch the birds build a nest or just sit there enjoying the nice weather.
10. The sunny days make everyone happy and appreciate this beautiful part of the world!
On January 24, 2009 I received an offer on a property on Cape Cod. We closed on it yesterday, May 14, 2009. Considering all the stories and tales of long sales, this doesn't seem that bad. If you ask the Buyer and Seller, they'd probably tell you it was not fun and took way too long. There were many tedious moments and I am glad it is over. We did use a short sale mediator and I do believe she helped. It was huge to have her gathering the paperwork and working with the Seller on that end. She handled all the communications with the bank. The one thing we didn't get at the end, and the Seller and his Atty were not happy about it...was a statement from the mortgage holder that the lien would be released upon their receipt of the proceeds from the short sale. We believe it is their intention to consider the loan paid off in full, but they wouldn't give us a lien release or put it in writing. I am curious if other realtors are getting this from lenders. I still say the lenders need to find a better and speedier way to complete these short sales.
The sun is out, it's warm, my husband left me daffodils on my desk at home this morning, I am going to see my son in 'Little Shop of Horrors' at Roger Williams University tonight, my daughter's Stonehill College Rugby team is playing in the National Championship in California next week and I am going, my youngest is a high school junior and wants to be a pilot or a genetic engineer, I had 3 showings today and submitted one offer. Life is good, good, good!!!
Sto
You know the calendar says it is Spring and my crocuses have already bloomed and flopped over but it sure has been windy and chilly. At my son's track meet yesterday I was in my winter coat, gloves and hat. I felt ridiculous but was still freezing. Today is really pretty out. The real estate market has been busy though and buyers seem to have recognized that it is spring and if they want a Cape house by the summer, now is the time to look. The mortgage rates are so great and first time buyers know about the $8,000 tax credit and are hoping to take advantage of it. We've been busy showing properties and it's great. Houses that are cleared of ALL clutter, neat, clean, well maintained seem to be the ones my Buyers are attracted to. Unless it is an absolute steal. Are others finding the same thing? Most of my buyers have no tolerance for clutter and even minor repairs. I find it interesting. Here's to the always interesting spring season on Cape Cod. Love it!
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