Rick Tourgee - Provincetown and Cape Cod

I recently received an e-mail from a Buyer Client who is not ready to buy yet and was checking out my website to see if prices have fallen here in the Provincetown area of Cape Cod. I thought it would be valuable for any Buyer to read what I wrote back to my Client. Here is what I wrote:

"Provincetown is a very unique area with very limited land, with almost no more land that can be built upon. This area of Cape Cod is a huge second home market. As such, most Buyers in the past purchased property with at least 20% down, have terrific credit, good assets, etc. As such, we have seen only a very small handful of short sales or foreclosures compared to "middle America". Thus, prices have only softened here by maybe 10%-15%, except in those very few rare cases where a Seller had to sell......or if the property was drastically over-priced to begin with regardless of market conditions.

Sales here are good. Buyers are still buying here because of the life style this area of Cape Cod offers, while inventory is good and mortgage rates remain at all-time lows. Thus, the bottom line to everything I am saying is that you should buy when you are ready, willing and able to buy. Prices are remaining firm. When the economy does turn around and becomes very strong, prices could rise at a decent pace again. You should buy when you are ready in your heart to own a special piece of Cape Cod......don't try to time the market! Whether it is the stock market or the real estate market, or any other market.....if you try to time the market, you will probably loose in the end.

Please feel free to reach out to me anytime with any questions or concerns. I am here to help."

I never want to push anybody into doing something they do not want to do, I never act like a pushy salesman. I am extremely proud that Buyers hire me to be their Professional Real Estate Adviser for honest advice and look out for the interest above my own interest. This fact makes me extremely successful!

If you would like to speak with me about your personal real estate goals and objectives, please feel free to call me at 508-237-4632 or e-mail me at Rick.Tourgee@Century21.com. Feel free to visit my website to browse through many of the condos and homes on Cape Cod for sale.

Many Buyers get very afraid when they hear "Adjustable Rate Mortgages". Buyers need to be good consumers and do their homework with a good calculator and a good Mortgage Representative. Here in Provincetown and the surrounding area, this area is mainly a second home market. Here is fact to consider: most second homeowners only keep the property for 2-5 years on average.

Most property owners end up trading the property for larger, or smaller, or for a different location. Since it is a second home, it is easier to make the trade for another property. Thus, it could make financial sense to obtain an adjustable rate mortgage with an initial rate lock for 3-5 years (these rates are typically called 3/1 or 5/1 ARM's). This could keep your payments more affordable and could allow more money to go toward principal- which would in turn give you more equity when you sell the property for another second home.

When working with Buyer Clients, I always advise a 3/1 or a 5/1 ARM. Unless, they are 100% sure they are going keep the property for more than 5 years. I don't know about you, but, I am not 100% sure I will have my second home in 5 years! Feel free to browse my website to view a variety of condos and homes here on Cape Cod.
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When looking to buy or sell your piece of Provincetown Real Estate or in the surrounding area, please call me at 508-237-4632 or e-mail me at Rick.Tourgee@Century21.com

I am an Accredited Buyer Representative (ABR) and a Seller Representative Specialist (SRS) with a successful track record servicing many Buyers and Sellers. I follow the Golden Rule and look out for my Clients needs above my own.

Attention all Provincetown real estate owners: The Provincetown Board of Assessors announces that the public disclosure period for fiscal year 2009 assessed values is now through May 8, 2009.

The town did not give any figures as to whether the values increased or decreased on the website. However, as I scanned through the properties, there are many that increased and many that decreased. I am hoping the town will announce what the average increase or decrease was as I could not take on the of doing the calculation on my little calculator. :)

The fiscal year 2009 values, which are pending preliminary certification from the Massachusetts Department of Revenue, reflect full and fair cash value as of Jan. 1, 2008. As required by Mass. State law, the fiscal year 2009 assessments are based on sales of similar properties in calendar year 2007. To view the FY 2009 Assessed values file and download to your computer, please visit www.provincetown-ma.gov/assessor.html

_________________________________________________________________________________________________________

When looking to buy or sell your piece of Provincetown Real Estate or in the surrounding area, please call me at 508-237-4632 or e-mail me at Rick.Tourgee@Century21.com

I am an Accredited Buyer Representative (ABR) and a Seller Representative Specialist (SRS) with a successful track record servicing many Buyers and Sellers. I follow the Golden Rule and look out for my Clients needs above my own.

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Many of you Active Rainers asked me to keep you updated about future eventsafter reading my Valentine's Client Party post. For our March event, we decided to make it a fund raiser for the local no kill animal shelter here in Provincetown.

All of the Agents here in the office is going to prepare a home cooked dish of food. We are asking Clients, neighbors, and friends to come to enjoy some great food and make a donation to this terrific organization.

Please join us on Saturday March 14 here at 68 Shank Painter Road in Provincetown, MA for great food prepared by wonderful Agents and please consider making a donation to this terrific no kill animal shelter.

_______________________________________________________________________________________________________

When looking to buy or sell your piece of Provincetown Real Estate or in the surrounding area, please call me at 508-237-4632 or e-mail me at Rick.Tourgee@Century21.com

I am an Accredited Buyer Representative (ABR) and a Seller Representative Specialist (SRS) with a successful track record servicing many Buyers and Sellers. I follow the Golden Rule and look out for my Clients needs above my own.