If you are looking for Cape Cod Home Real Estate Deals these days you are certainly not alone. Given the media’s attention to the vast inventory of undervalued properties in the national markets who can blame you? While there are, in my opinion, deals to be had on Cape Cod Massachusetts I’d like to offer some professional insight to prepare you for what I call “Cape Cod Homes Reality Real Estate”.
If you consider the fact that, on Cape Cod, since 2007 the median selling price of single family homes has decreased by 21%; shouldn’t this constitute a tremendous deal in and of itself? However I have found that, buyers who are thinking about purchasing a Cape Cod Home have the perception that that 21% discount should and can be had off of the current home’s selling price. Hence begins the rub and inevitably the stalemate between buyer and seller.
Cape Cod Home Market Sales Trends indicate that on average homes are selling for over 90% of the original list price. Also important to note that since 2007 the number of days on market for the median priced houses is, to date 102 days. Working with these facts, along additional statistics that your realtor can provide such as comparable sales in the area, will create a true picture of what you can expect to pay for a given home. The key here being don’t set yourself up for disappointment and start looking for homes priced at $600k thinking that you will end up steeling that property for $400k. Know what you can and are willing to afford and know what reality is in your chosen neighborhood.
Source: Cape & Islands MLS
Cape Cod Home Foreclosure Properties can afford buyers an opportunity to get into a home for less than then most of the privately owned neighboring homes. While this is often the case with foreclosure properties, be prepared to invest $$ for repairs, appliances and updates to the home. Work with your realtor to assess the cost to purchase vs. total investment. Often the total cost outweighs the current value. If you are handy and able to do the repairs yourself, this often makes the deal worthwhile.
Cape Cod Home Short Sales are yet another opportunity to get into a home at a low price point, but again know that the list price of that home already reflects the discounted price. Know that on average, 13% of all offers on short sale properties actually result in a sale, so if you are on a time line, this may not be the deal for you.
Finding A Cape Cod Home Real Estate Deal can be like finding a needle in a haystack. Searching the web and fantasizing about buying a beach house in Chatham MA for $200k is probably not likely. So search the web and get a feel for what is out there in your price range. But then save yourself time and frustration and choose a realtor to represent you that can not only show you the ins and outs of the local market but glean some insight on the motivational level of the seller of the house you choose. This information along with the facts and statistics aforementioned should result in a realistic Cape Cod Homes Real Estate Deal for YOU!
About the author: The above information about Cape Cod Homes Real Estate Deals was provided by Vicky Whittier, a highly respected name in real estate who services the Cape Cod Ma real estate market for Virtual Homes Real Estate. Vicky can be reached via email at Vicky.Whittier@VirtualHomes.com or by phone at 774-238-2746 to help you find your Cape Cod Home Real Estate Deal.
You have found an experienced and hard working real estate professional who specializes in the Cape Cod residential market. I am eager and ready to help with your purchase or sale.
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