Evelyn Doane

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

May 2008 Cape Cod Market Report

The season is about to start and the Cape is beautiful with the flowering trees in bloom! Today's market on Cape Cod offers incredible opportunities for buyers...and just in time for our summer season! Interest rates are at historic lows, conventional financing remains readily available for qualified buyers and there is a wide selection of homes in all price ranges avail-able and waiting for you.

To quote our Cape and Island MLS newsletter: "For buyers, conditions are optimal! Plus, prices have balanced out and are lower than they were a few years ago. In addition, a home remains one of the best, most solid long term investments one can make. Over the past 30 years, homes have increased in value on average 6.6% per year, and the value of a home doubles every 10 years. You can't watch the sunset and feel the Cape Cod summer breeze from a mutual fund. Don't wait...right now is a fantastic time to make the investment in a Cape Cod home!"

The Massachusetts Association of Realtors feels that for 2007, the housing market fundamen-tals remain strong. There was less inventory on the market in 2007 than in 2006. The Association states that sales are still at a historically high level, mortgage rates are at historic lows and sales are moving along with better things to come as our season begins on the Cape.

Fewer homes on the market on the Cape is good news in that it shows the inventory is being used up. If you buy now rather than later, you have the advantage of more homes to choose from with more amenities and in locations that appeal to you.

The current inventory of homes for sale is down 2.95%.

Homes sold year to date is down 9.82%

.Homes under agreement is down 16.03%

Median value of homes sold is down 9.82% but the average value of homes sold is up.

What does this mean to you as a buyer? My feeling is this is a great time to buy a home as historically, homes on the Cape and especially in Chatham keep their value and appreciate. Just in this past year I have seen various areas where there were beach cottages upgraded to year round homes. While there is not nearly as much "spec" building going on except for homes well over $1,000,000, there is quite a bit of activity improving existing homes for re-tirement or for use as second homes and rental/investment properties.

Chatham has been spared the subprime mortgage and foreclosure disasters to a very great extent although other areas west of us on the Cape have not been so fortunate.

We anticipate a great summer despite the negative press from the media. It is always wise to remember the press is reporting overall conditions in the nation and in the entire state of Massachusetts, while the Cape is a special entity unto itself and Chatham a very special part of the Cape.

In conclusion...this still is a buyer's market and there are some really attractive homes at most attractive prices in Chatham, Harwich, Orleans and Brewster...some around assessed value. If you are considering buying a home, this is an excellent time to do it!

If you are thinking of selling, the question of should I put my home on the market is a little more difficult. First of all, if you are willing to price yours right and it compares favorably with others on the market in your community, then it will sell. However if you price it high, only bad things happen. It will sit on the market without any showings and you will get upset with your Realtor and he or she may lose interest. Then if you lower your price to where you are competitive, buyers will wonder what is wrong with it, think you are desperate and feel they can "steal" it.

Therefore if you don´t need to sell, don´t. But remember, it is going to be a long time before the market goes back up. We probably will not see any appreciation next year and then only 6% or 7% for the next few years thereafter. In making your decision, be sure to factor in your carrying costs, i.e. taxes, insurance, mortgage payments, home owner and condo fees, utili-ties, etc. If you take a hard look at the numbers you may find it makes sense to sell now.

I hope this report has been informative. Please be in touch if I can help you.

Evelyn Doane

508-237-1629

www.ChathamByTheSeaWithEvelyn.com

edoaneccod@comcast.net

This report discusses the overall Cape Code real estate market and not any specific prop-erty, community or area. The opinions are that of the author and should not be considered to be a specific recommendation. They along with the data are presented to help you make an informed decision.