Steve Clay

The good news for condo sellers on the upper portion of Cape Cod, MA (Falmouth, Mashpee, and Bourne) is that more units were sold in 2008 than were listed. This is a positive trend when compared to 2007. The bad news, however, is that prices have dropped.

The following chart shows the listings/sold comparison for both the upper Cape and the Town of Falmouth for both 2007 and 2008.

Cape Cod is a magical place in any weather. Here is a view from the clubhouse deck at FalmouthPort on Saturday, December 20. By the way, this is a color photo.

Less than a week later, the snow is gone and this is the view at Falmouth Heights Beach on Christmas morning.

May the spirit of Christmas - Faith, Hope, Joy and Love - be with you today and throughout the coming year.

Starting the day after Christmas, attention will focus on the new year. With this, both resolutions and predictions move to center stage.

Since the market has slowed lately (both seasonally and economically), I have been spending a great deal of time preparing for 2009. New technology, a new "niche" website and blog, a new contact management program, adding a new "farm," a new education/coaching program, and developing some new twists on old marketing schemes are all figuring into my 2009 plan. I have also been analyzing what worked in 2008 to determine whether it stays or goes in 2009. But I'll write more about these items over the next few weeks and hope that you will share your plans as well.

I'm also going to save my Predictions and Resolutions for later. Frankly, the writing over the next few days will help to crystallize all the ideas that have been bouncing around my head into solid goals.

So here are a few pluses and minuses that I think we all need to consider in our thinking about 2009:

PLUSES

• Low interest rates
• A Large Inventory
• Pent-up Demand
• Investors seeing real estate as the "investment of choice"

MINUSES

• Buyer Fear of the Unknown (Economy; Job Loss)
• Tighter Credit Guidelines
• (On Cape Cod) Springtime Listing Flood
• Continued Foreclosures (in spite of the Federal bailout)

There is a lot to think about. The most important consideration for everyone who wants to have a good year in 2009 is this: BE PROACTIVE. Anyone who sits around and waits to see what happens is bound to be disappointed.

Your thoughts and comments are welcome!

It has been a challenging year and every Realtor has had to put out extra effort just to keep up. Every sale this year has been unique and many have required something that would normally not be considered part of a Realtor's job. Here are the highlights of my list:

• Helping an elderly seller burn off the gas in an undergroud tank so that it could be hauled away before the closing.
• Replacing rotted floor boards and painting a deck for an elderly client.
• Removing a stump (at the buyer's request).
• Raking leaves and cutting the grass to make a "distressed" property look better.
• Hauling away trash (on several occasions).
• Conducting a combined open house and art sale
• Conducting a combined open house and antique sale

And this does not take into account that the average buyer is looking at 18+ houses before making a decision.

It might make interesting reading if some fellow realtors would share their most unusual "Extra Service" from 2008. I'm sure that my list pales in comparison to many.

People keep asking me whether this is a good time to buy. I am presently with over 20,000 of my colleagues at the National Association of Realtors Convention in Orlando and that topic has come up in numerous sessions.

David Knox, a well-known real estate expert, speaker and coach said it this way: "In three to five years, people are going to look back on this time period and say ‘I wish I had bought back then."

Here's why:

• Inventory is high
• Prices are low
• Interest rates are historically low
• Sellers are motivated
• There is abundance of bank-owned property
• Banks ARE making loans to qualified buyers
• For first-time homebuyers, there is a $7,500 tax credit from Uncle Sam

As for Cape Cod, this time of year is especially favorable for buyers. Many sellers have decided to sell and do not want to carry the property over the winter.

Can You Sleep in Your Portfolio?

Heck, your portfolio may be keeping you from sleeping at all! If you have cash or good credit, and are looking for a solid investment, real estate is once again a good buy. Besides, you can't spend summers and weekends in your stock certificates.

Fellow blogger Ginger Wilcox of Marin County, CA said it even more directly. Here's the link to her blog on the subject: http://www.blogbythebay.com.

Have a great day :)

This 3 bedroom, 3.5 bath condo in a Cape Cod waterfront community is priced under $300,000. Check it out at http://209vineyardgate.com.