the cape house

The Buyers are Back in Town

2012-02-02T08:48:00.000-08:00

If you know anyone who may like to sell a property around Follins Pond, particularly with beach rights, please send me a message below.
My listing at 3 Robert Arthur went under agreement in a month, with multiple buyers pursuing it. Unfortunately once we accepted an offer on that house, I had nothing else to show the other buyers!
If you know anyone in the Follins Pond area looking to sell, please send me a message. Thanks!

The Buyers are Back in Town

Photo Card

2011-12-15T17:36:00.001-08:00

Take A Bow Christmas

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She Didn't Owe Us Anything

2011-11-29T20:06:00.001-08:00

These are some shots from yesterday's demolition of the old bath house at Corporation Beach in Dennis. As old and obsolete as it was, I can't help but get a little nostalgic about waiting in line to use those smelly bathrooms which fed into a failed septic system, or the fry stench from clogged grease traps, or scratching my head at the fact that less mobile folks had to use a big, hot porta potty at the bottom of the hill...Wait a minute...! I'm not really going to miss those things at all.

The new building comes with a brand new septic system, modern industrial kitchen gear for the snack bar, outside rinsing showers, and additional toilets--including handicapped accessible ones, and an ADA-approved ramp/trail up the hill so EVERYBODY can eat their french fries on the bluff.

Stay tuned for pics of the new construction!

Just for Dennis folks: Town Meeting Tonight, Cup o' Joe on Me Tomorrow

2011-11-15T07:14:00.001-08:00

Let Me Buy You a Cup of Coffee at Buckies!
Tonight at 7 pm there is a special town meeting in Dennis and it hasn't been highly publicized, but there are a lot of articles that my Dennis friends will be proud to show up for. We've got some great things going on in our town! Some of the topics:

-Sidewalks on Lower County Road
-A solar farm at the old dump
-Keeping our school district together

I personally will be voting YES on all of these, and encourage my Dennis friends to do the same. But regardless of what position you take, just by showing up you will have served your town well.

As a special incentive and thank you to everyone of my Dennis friends for showing up and supporting our town tonight, I will buy you a cup of coffee at Buckies tomorrow. Show up anytime tomorrow at Buckies Biscotti in Dennis Port, show them your yellow voter tag and get yourself a cup of coffee on me!

2011-11-05T06:55:00.000-07:00

How to Pay off Your Mortgage Faster

2011-10-26T11:05:00.000-07:00

TWEMM Your Yard for Curb Appeal

2011-10-26T07:22:00.000-07:00

TWEMM your yard for the best curb appeal.

After location, curb appeal is the most important determining factor for buyers. Even if you've got a brand new roof, freshly painted trim and high-end windows, poorly managed landscape is a huge turnoff!

Fortunately, improvement in landscape is one place where you almost always get your money back. In fact, in many cases you can do most of the work yourself. Here's an acronym that I recommend to my sellers: TWEMM:

Trim: Trim shrubs away from the foundation, tree limbs away from the roof, and any other shrub or hedge that requires shaping.
Weed: Weed all beds, gardens, foundations, driveways, paths, patios, etc.
Edge: A clean, defined edge between your lawn and any planting beds is good for the beds and very easy on the eye.
Mow: Keep your lawn neatly mowed. Use a weed whacker to tidy up the edges of the lawn and around fenceposts, mailboxes, etc.
Mulch: Mulch your beds with the darkest mulch or compost you can find. A nice touch before a showing is to hose down the mulch to make it look darker; it sets off the color in the plantings. Many transfer stations have free mulch and compost for the taking.

Blessing of the Animals and DOGnut Reception

2011-08-27T10:12:00.000-07:00

Bring your beastly friends on over to the Dennis Village Green on Sunday, September 18 at 10:00 for the annual Blessing of the Animals at the Dennis Union Church. With all of the various animals that show up (I've seen cows, bees, ducks, chickens, cats, and of course dozens of dogs) it is a great event for the family.
After the blessing I will be hosting a Coffee and DOGnut reception at Drummer Boy Park on Route 6A in Brewster, the best unofficial dog park on the Cape. I hope to see you there! Call or email me for more info.

What Will Your War Story Be?

2011-08-23T16:37:00.000-07:00

Here's the deal: we are in a recession. Granted, we are on the tail end of it at this point, but the reality is that our national economy took a face plant, and that's the truth. I've talked to a lot of clients lately who--God love 'em--think that the recession doesn't apply to them. Somehow their house is the only one that held its value from when they bought it in '05. I talked to one client today who has an investment property on which they have a 4.5% mortgage (albeit an interest-only balloon), and they are presently breaking even on it, with the best tenant on planet earth. They were considering selling or refinancing until I broke the news that the property is worth 20% less than they need it to be. Worst case, they sell it in 2 years and break even or maybe make a dollar. That's pretty good I say, in these times. Broke is the new rich. At least you're not in debt!
Compare that to another house that I just sold. A gorgeous, radically renovated beach cottage with all the bells and whistles. We sold it for above market value (go me!), and still the seller came up short at the closing. Yikes. That one hurt.
Listen, friends, nobody is immune from this national crisis. Most of us have already taken it in the shorts in one way or another. If you are one of those, congratulations, chances are you can move on now and rebuild. If you haven't, don't be too smug. It might not be as harsh as a foreclosure or short sale, but if the worst that happens is that you walk away with the shirt on your back, you're doing alright.

WSJ Says Now's the Time to Buy Vacation Homes

2011-07-24T17:42:00.000-07:00

The Wall Street Journal has taken note of the increase in activity in upscale vacation homes like those here on the Cape. But their advice, and mine, is to go into it with a long view. In the early 2000's as the bubble peaked, it was a safe bet that if you needed to in under 5 years you could unload a piece of real estate and get all your money back and then some, but we're not seeing that kind of irrational appreciation today.The market is improving, but if you don't have a confident view of your own future over the next 10 years or so, it's best to wait until you do.

June Was a Busy Month!

2011-07-07T20:26:00.000-07:00

Good grief, I can't believe I didn't publish a single post in June! It was a very busy month for my family and for Cape Cod real estate. Actually, judging by the real estate stats you wouldn't think I had much of an excuse. According to the Barnstable Registry June 2011 Recording Statistics that came out today, June was actually down from May. However, this was preceded by three straight months of growth, a trend we haven't seen for two years. Still, we have fantastically low interest rates and bargain prices. With that and the summer population more than double that of the off-season, I'm predicting a busy July.

Recap: Top 10 Signs of Spring on Cape Cod

2011-05-25T06:29:00.000-07:00

10. Roadkill
9. Birds!
8. Crushing Disappointment
7. Cadbury Eggs
6. Levitating Mulch
5. PEEPERS!
4. My Birthday!
3. Right Whales in the Bay
2. My Husband's Annual Poison Ivy Attack
1. THE HERRING ARE RUNNING

Signs of Spring on Cape Cod. Sign #1: THE HERRING ARE RUNNING!

2011-05-25T06:22:00.000-07:00

I'm posting this a few weeks late. This is just the most fun and amazing sign of spring for me. The Brewster herring run by the grist mill is one of the most magical places on earth, much less Cape Cod. I swear fairies live there.
Every April during my many frequent trips by the herring run I keep an extra eye out for seagulls lurking about the run. There is a direct correlation between the density of hovering gulls and that of the migrating herring. It's awesome!

Mayflower Beach Named Top 10 for Families by Parents Magazine

2011-05-20T05:04:00.000-07:00

A Shore Thing: 10 Best Beaches for Families Plus 10 Runners-Up

Sign #2 of Spring on Cape Cod: My Husband's Annual Poison Ivy Attack

2011-05-05T20:20:00.000-07:00

My husband gets poison ivy like it's his job. Right on schedule, every spring the evil weed seeks out Mark's skin, and I think lymph nodes too. He's one of those people who gets a tiny little spot that within hours morphs into a blistering, oozing patch of itchy hamburger. By day he stoically soldiers on, dutifully applying prescription ointments and popping his prednisone, not so much as touching a spot, much less scratching. It's torture for him. But by night in the vulnerability of sleep, the bed shakes as he rakes at his flesh. I feel so bad for him. This year's attack was less overwhelming in its reach, only showing up in a couple of spots. However, it made up for its sparseness with its appearance in the most unfortunate areas...poor guy!

Happy Feet!

2011-04-20T07:10:00.000-07:00

10 Types of Home Flooring: Flooring Styles: Architecture Coach: REALTOR® Magazine

Signs of Spring: Sign #3: Right Whales in the Bay

2011-04-19T03:35:00.000-07:00

A right whale fluke on Cape Cod Bay as seen from a Dolphin Fleet boat yesterday by my friend Laura. Wish I was there!

Top 10 Takeaways from Enterprising Women 4/14/11

2011-04-15T07:26:00.000-07:00

These were the top 10 gems for me from yesterday's fantastic conference:

1. Don't cry.
2. Play nice with the other girls.
3. Don't apologize.
4. Go to church.
5. Get over yourself.
6. Listen to your gut.
7. Pick good partners, in love and work.
8. Give yourself options.
9. Be brave.
10. Tell the truth.

Signs of Spring: Sign #4 My Birthday!

2011-04-12T17:56:00.000-07:00

This year I was late for my own birthday. I'm probably too old having any business bothering with such silliness, but nonetheless, I do care. Birthdays are awesome. In fact, until I earned rights to Mother's Day, my birthday was the greatest day ever. Well, after Christmas. Christmas is always pretty good. But my birthday has always been one of my favorite signals that spring would finally be here. Yay! Happy to me!

Sign #5 of Spring: PEEPERS!

2011-04-03T18:51:00.000-07:00

Peepers are by far my absolute most favorite sign of spring. I don't know what it is, but the first evening I hear that chorus of tiny little screes, I just have to smile. Listen to them here.
For those of you who live west of the Mississippi, peepers are little frogs whose mating call gives them their name. They congregate by the hundreds in wetlands during their spring mating season and make that peeping sound all night long. Across the street from my house there is a pond that must be some sort of peeper Vegas. Tonight they were carrying on like frat boys in Panama. Yee haw!

Buying Your First Home: A Reality Checklist

2011-03-29T11:46:00.001-07:00

Check out this presentation. What a fantastic resource!:

Buying Your First Home: A Reality Checklist

View more presentations from Audie Chamberlain.

Sign #6 of Spring: Levitating Mulch

2011-03-14T09:21:00.000-07:00

I LOVE this annual reminder of the power of LIFE.

True Confessions

2011-03-13T20:11:00.000-07:00

Mothers more likely than men to feel guilt, stress over after-hours work communications

How on earth would I get featured in an article like this??? Hmmmm....

Signs of Spring #7: Cadbury Eggs

2011-03-12T10:12:00.000-08:00

Do You Like Wine? Fantastic Kids? LIFE?

2011-03-09T07:54:00.000-08:00

My dear friends and clients started out 2011 with the devastating news that their amazing son had leukemia. Bennett Hartley has ALL but has been a rock star throughout his grueling treatment. His prognosis is as good as you can hope for with his diagnosis. So far he's been lucky that there's been sufficient donated blood to meet the needs of his (so far) 3 transfusions. There are so many other kids and adults right now, as you read this, who depend on people like you and me to donate our healthy blood.

This Friday, March 25 at Cape Cod Bible Alliance Church on route 6A in Brewster from 11:30-5:30 Children's Hospital will be holding a blood drive in Bennett's name. For every one of you who donates, I will put your name into a raffle for two bottles of wine (one red, one white). Just send me an email after you donate. The winner will be announced on www.katieclancy.com, facebook, Twitter and LinkedIn (and of course email to the winner!).

Goodbye Mr. Stewart

2011-03-04T19:42:00.000-08:00

How can it be that someone with so much life be suddenly gone?

John Stewart Obituary: View Obituary for John Stewart by Nickerson Funeral Home, Orleans, MA

2011 Rebound: Affordability High, Investors Back

2011-02-28T20:40:00.000-08:00

2011 Rebound: Affordability High, Investors Back This article from Realtor Magazine confirms what Cape Cod has already been seeing: bottomed out prices, cash investors, and the re-emergence of spec building.

The Top 10 Signs of Spring. #8: Crushing Disappointment

2011-02-22T18:22:00.000-08:00

On Cape Cod when hot, sunny weather shows up unannounced in September, we call it 'Indian Summer'. We grab the shorts out of storage and run down to the beach. But in late February, when we've had but two or three spring-like days and then get a light dusting of SNOW, we call it blasphemy. Happens every year. Do we ever learn? Noooo. If we took those kinds of thing in stride, what on earth would we have to complain about? We've already grieved the Patriots' humiliating defeat in the playoffs, and the Red Sox are just warming up their let-down game. In February, whining about snow is all we've got!

Top 10 Signs of Spring: #9 Birds!

2011-02-16T07:05:00.000-08:00

Holy cowbird! This morning my kids and I were getting ready for the day and we heard a sound we haven't heard in months--birds. There was one call in particular ('fee-bee') that made both my daughter and me stop in our tracks and say 'Spring!'. So for the first half hour at the office today I did not contact clients, work on offers or even make myself a cup of coffee. I went straight to the computer and researched bird calls. Finally, I landed on it: the Black-Capped Chickadee. I never knew that they made any sound but the one that gave them their name. As if they weren't likable enough in their cuteness, now I have another reason to love this little bird. Click on the link below to hear the same beautiful spring song that we did:

Black-capped Chickadee, Identification, All About Birds - Cornell Lab of Ornithology

The Top 10 Signs of Spring: #10 Roadkill

2011-02-14T20:32:00.000-08:00

"...Deaaad sku-unk in the middle of the ro-oad..."
I don't know why I remember this as a song from my childhood, or even if there are other lyrics to it. But I do know that when we start to see (and smell) flat black and white (and red, let's be real) pavement pancakes, it means that winter is winding down.
Skunks, which are plentiful here on Cape Cod and all over New England, are very quiet all winter. They don't quite hibernate in the cold winter months, they just kind of take a post-Thanksgiving nap that lasts about til Easter. But as soon as even one warm day hits, they start to get the munchies and even start looking for a date. On this balmy Valentine's Day this spring harbinger was probably doing just that. Poor guy. He may have given his life to do it, but today my smelly speedbump friend also gave me hope.

If You're Fond of Snowdrifts and Salty Roads

2011-02-06T10:50:00.001-08:00

Gross. Yuck. Ew. This has been one of the stormiest, sloppiest winters I can remember on Cape Cod. #Tim Kelley, my childhood neighbor and NECN meteorologist, says that this month we're in for a storm about every 5 days or so. (We used to be friends... Although blaming him for bad weather is like blaming me for a bad market, so I guess I'll go easy on him.)
The buyers who buy this month are either brilliant visionaries or very brave, slogging through slush to see a frigid, dormant beach cottage. It's hard to believe that in 6 months we'll be dancing tippy toe across molten beach parking lots and hermetically sealing potato chips against oppressive, crunch-killing humidity.
I'm not really complaining, though. The rhythm of the seasons on Cape Cod for better or for worse always keeps our view of other times more rosy. Sure as shootin' there we will be in July, a flaccid compress on our sunburn, waxing poetic about this past winter's crackling fireplace, colossal snowmen and maniacal runs down the sledding hill. It doesn't get any better than this.

- Posted using BlogPress from my iPhone

No Kidding, Buyers. It's Time.

2011-01-15T21:27:00.000-08:00

Prices on the Cape up 9% in six months.

We've all been hearing that now is the time to buy, but still people are holding out waiting for 'the bottom'. Well, folks, the bottom has come and gone. We are now on our way up, as evidenced by the rising of both interest rates selling prices. In six months Cape Cod has gained a half percent in rates and 9% in prices. The Wall Street Journal just named the Cape as one of the Hot Spots for buying vacation homes in 2010.

Let me spell it out for you: A lot of you have been shopping since this summer. If you were looking at a $500k house then, you could have gotten an 80% mortgage for under $2000/mo. Today, that same house is valued at $545k, and if you want that same $2k payment you'll need to come up with about $168k (or 30%). Summer 2011 will bring even more growth.

Don't get me wrong, this is still a very auspicious time to be a buyer. But the low interest rates, low prices and relatively high inventory were all symptoms of an unwell economy. As we recover, the rare opportunities that are in front of you now will fade. Get off that pot.

What do the changing interest rates really mean to ME?

2011-01-07T12:04:00.000-08:00

With all the talk of interest rates going up or down and who benefits and who pays, it can be confusing to know how these economic changes affect you as an individual. In real estate here's what it looks like:Let's say you have been looking at houses since this summer and at that time your bank told you that you were pre-qualified for $280,000 on a 30-year mortgage with 20% down at 4.375%. That means that you could spend up to $350,000 on a house. This would give you a monthly payment of about $1400. However, today's 30-year rate is 4.875%, a full half percentage higher than it was in August. To keep the payment the same on a 30-year mortgage at today's rates, your house budget just shrank to $329,000.

If you are the seller with the $350,000 house, it's pretty easy to connect the dots from here. Your house just dropped $21,000 in value. If you want the house to stay marketable, you would be wise to reposition the property so it gets in front of the people who can afford it, or make enough improvements to it so that it is worth the extra $21k. Chances are if your house was on the market for any length of time at $350k, it might have been a little overpriced to begin with. Time is money; don't waste any of it waiting around. If you aren't getting this information from your Realtor, find it somewhere or hire a new agent. There are hard decisions to be made in this market and those decisions should be informed.

Two Sides of the Mortgage Interest Deduction

2010-12-29T19:10:00.000-08:00

The deficit commission is leaving no stone unturned it its search for solutions to our country's crushing debt problems. Recently scrutiny has been given to the nearly 100-year-old tax Mortgage Interest Deduction (MID). It is the one of the largest deductions in the U.S. tax code and is projected to be valued at $131 billion in 2012, according to White House estimates. Response to this idea has been vigorous on both sides of the issue. Here are two perspectives to consider, then you make up your own mind:

1. FOR eliminating MID
2. AGAINST eliminating MID

Interest Rates on the Way Up

2010-12-27T13:30:00.000-08:00

From Realtor(R) Magazine: 'The average rate for a 30-year fixed loan increased to 4.61 percent in the week ended Thursday, Dec. 9, from 4.46 percent the previous week. The average 15-year rate rose to 3.96 percent from 3.81 percent.' Buyers who have been waiting for 'the bottom' may have actually missed it. Realtor Magazine theorizes that this could be a stimulus to get foot-dragging buyers to pull the trigger.

For more, follow this link: REALTOR® Magazine-Daily News-Rising Rates Could Get Buyers Moving

2011 Opportunities in Cape Cod Real Estate

2010-12-15T04:49:00.000-08:00

As we wind down a hopeful but subdued 2010, the question everyone is asking is: Is the recession over? The short answer for Cape and Islands real estate is yes. For the most part. There are some lingering symptoms and uneven progress, but there are definitely opportunities for both buyers and sellers in the coming months.

For Buyers:

Better Selection: As happens every year, a big batch of new inventory will come on the market in January. What's projected to be different this year is an improvement in the quality of those listings.
Entry Level Bargains with Great Financing Options: If you’re not afraid to swing a hammer, keep an eye out for HomePath properties; they represent almost guaranteed sweat equity. This is a great solution for working class Cape families and investors.
Discounted Luxury Properties: Some high-end homeowners burned through their backup money banking on a more robust recovery and are now stuck with a property they can no longer keep. Expect to see an increase in luxury properties in the short sale/foreclosure market.

For Sellers:

Hit the Ground Running: Gone are the days of the sleepy Cape Cod winter. It may come as a surprise, but according to Google Analytics, January is the biggest month for online searches for Cape Cod real estate, second only to July. Six weeks to shop, six weeks to close, six weeks to fix up and furnish and you're at Memorial Day. So make sure your property is ready for this market.
Second Homeowners: Even though discretionary spending is expected to be down, second homeowners are still shopping. The Cape properties that will fare best are near popular summer attractions, have wood floors, modern kitchens, garages and ample storage. They're even more attractive with a first floor master and laundry.
The Price Is Right: Today's buyers are extremely savvy and will not overpay. But even in this market, if a property presents a compelling value proposition there are bidding wars, houses selling over asking price, and some very short days on market. A good agent will tell you what number you need to be at; a great one will tell you why. Make sure you understand the market.
Cut Your Losses: We all took a beating in the recession. If you bought or refinanced during the boom (2004-2008) and have to/want to sell now, it could be years before you see that kind of value for your property again, and longer for actual appreciation. Come to terms with the loss and move on. Talk to your accountant; there may be some small consolation for your loss in the form of tax benefits.

To Sell Is Human

2010-12-14T11:43:00.000-08:00

Sales is a natural, organic and beneficial part of human society, and the driver behind all evolution. Humans are creative, resourceful beings. When we have a need, we seek a way to satisfy it. Necessity is the mother of invention. But we don't have the time (or frankly, the wits) to creatively solve all of our own problems/meet all of our needs. Fortunately all we humans have pretty much the same needs (food, shelter, love, etc.) so at any given moment there are a number of folks working on the same problem. At least one of us is eventually going to find a really terrific solution. If I can get access to that solution, it enables me to live a better life and go on tackling my next problem. Sales is the means by which solutions are introduced and conveyed to the folks with the problems. This is a valuable service, and depending on the perceived urgency of the problem and the degree to which it can be satisfactorily resolved, folks will pay a premium for that solution.

Shadow Inventory

2010-12-14T04:36:00.000-08:00

Don't feel bad. I've been hearing the term for months but didn't have the guts to have it explained to me until yesterday. At our sales meeting , Ed Barrett (the unofficial King of Customer Service from Salem Five) came and gave our agents a little mortgage primer/2011 forecast. One of the opportunities he highlighted for the coming year is the shadow inventory.
Described loosely, shadow inventory refers to the properties that are not actually on the market yet, but probably will be soon. Specific to our market here on the Cape, Ed's prediction is that much of our shadow inventory is distressed property (i.e. short sales, foreclosures and other troubled mortgages). This was a little surprising to me, as Cape Cod has already started to demonstrate evidence of economic recovery. However, as Ed pointed out, foreclosure numbers lag behind other economic indicators like unemployment, etc. According to other experts, Cape Cod's upcoming distressed sales are more specifically going to include more luxury properties than in the past.
Having familiarity with the concept of shadow inventory (or any other economic phenomenon), sellers can tune into what kind of competition they can expect, buyers can position themselves in such a way as to take advantage of unique opportunities, and Realtors can appropriately target their marketing and education efforts. Knowledge is power, and ignorance has an easy cure.

New Toys!

2010-12-07T07:16:00.000-08:00

GOSH I really love technology. I just listened to one of the many incredible courses that I downloaded from the National Association of Realtors Conference in New Orleans. This one was called Real Estate Road Warrior, by Shannon W. King. AWESOME.
Technology is transforming the way I do business and the way I think. I notice that I've always carried the assumption that to 'take things to the next level' required a serious investment of capital, but truly, some of the most powerful tools out there are FREE or very inexpensive: Xobni, Homefinder.com, GoogleDocs, etc.

Gratitude Rocks

2010-11-28T13:30:00.000-08:00

Recently as a way to close up 2010 and prepare for 2011 I took the advice from an article I read in Realtor Magazine and conducted a systematic polishing and organizing effort for my business. I cleaned out my database, analyzed the year's accomplishments and made plans for the next. One of the steps included in the guide was to acknowledge the people who helped make your year a good one.
I got started thinking about all of the people who helped me overcome challenges, achieve goals, and make all aspects of my life, both business and personal, generally terrific. I sent thank yous to clients, family members, my boss, the cleaning lady, my pastor, my kids' teachers, the babysitter, my workout buddy...the list goes on and on. It cost me about $.45 per thank you, and was worth every penny. Judging by the responses I got you'd have thought I'd been sending out $100 bills. People really appreciated the acknowledgment, and I felt great to have surprised them with such a pleasant thought. I don't know or care what impact this has on my business, but I know that I will do it again.

Get Ready for a Jump in Inventory (Quantity and Quality!)

2010-11-14T16:29:00.000-08:00

Recently Bank of America and GMAC resumed foreclosure proceedings on 100's of thousands of properties it had suspended earlier in the year. There are many implications of this move, but what the overall market will notice most is a fresh influx of new listings at bargain prices. Since the recession we've been seeing plenty of discounted properties, but mostly in the mid- to low-range. Something we haven't seen quite as much of yet is discounted luxury properties. The higher-end folks have done a decent job of keeping up appearances for the past 18 months, but for some this is the end of the line.

This is good news for buyers, not so good news for sellers. If you're already on the market, make sure you're priced competitively. This may mean putting the house at a price that is a lot lower than you had hoped to sell for. If that's too much for you to swallow, do some math. Our area (Cape Cod) is heading into a period of rational growth (as opposed to the recent irrational decline, which was preceded by irrational growth), so if you use a rate of 3-5%, figure out how long it will take until the FMV of your home matches your desired sale price. Is it worth the wait? If so, then pull your house off the market immediately and take good care of it for the next few years until you can market it again. If you're not willing or able to wait that long, get a reputable Realtor, find out what the real, live market value of your house is in today's market, and price it right there or slightly lower, and cut your losses.

If you are considering putting your house on the market in this atmosphere, you must be realistic. Look at the very recent (as in 1-3 months) comparable sales in your area (short sales count!), look at your competition, and make sure you are a couple of percentage points less expensive than your lowest-priced competition. If this process leads you to a price that breaks your heart (or your bank), get back into your head and do the math I talked about above. And consider the consequences of over-pricing your house--languishing on the market and suffering 'death by a thousand price cuts'.

We are definitely on the road to recovery, but there are still some tough times ahead for sellers. Those who will fare the best will price their houses with the market and prepare their homes for the stiff competition that is just getting stiffer.

REALTOR® Magazine-Daily News-B of A and GMAC to Resume Foreclosures

Recovery Remodeling - Fine Homebuilding Article

2010-06-16T15:09:00.000-07:00

Recovery Remodeling - Fine Homebuilding Article

Many people are starting to feel a loosening of the financial grip they have been under for the past couple of years, and are contemplating some long put off projects around the house. This article does a great job helping you decide which things to do and when, according to whether you plan to stay in the house or sell it in the near future.

Take Your Best Shot Now

2010-06-08T19:27:00.000-07:00

Everyone knows that selling a house is all about conveying a compelling image to your customers, most importantly through visual means. Good pictures, and plenty of them, bring in more buyers. It's amazing how many people underestimate this fact. We've all seen listings with dark, out of focus, and crooked pictures, or worse--NO pictures.
But there is one variable even the best photographer can't remedy--frosty, desolate landscapes in the dead of winter. Nobody buys a house on Cape Cod thinking about how much they'll enjoy a long, dark New England winter. The image buyers are seeking is full of sunshine, sand, flowers and life.
If you are even considering putting your house on the market in the next year, get out now (May and June) and start taking pictures of your exterior. Chances are your lawn is still spring green, the leaves on the trees are healthy and robust, mulch is still fresh, and flowers and shrubs are blooming. If you have hydrangeas (a classic Cape Cod summer flower) shoot the house in July when they are in bloom. Shoot the pool now, while it's open and blue.
Next to July, January is the busiest shopping month for Cape Cod real estate. It also happens to be the grayest. But with bright, summery images in your listing, you can list your house in the dead of winter and set yourself apart from all of the other properties by capturing the attention of the summer-minded buyers.

Yee Haw!

2010-03-31T10:39:00.000-07:00

In an effort to spark things up a little in the dead of winter, our broker Kim organized a couple of first quarter sales contests. The first was a Listings Contest and the second was an overall Activity Contest (buyer contracts, listings, continuing ed, open houses, closings, etc.). When she first announced them I was the first to balk. To even qualify for the listings contest you had to get at least 5 listings. No way! And for the activity contest, the big points were in closings and new listing and buyer contracts. I had no really good prospects and was feeling a little discouraged. But Kim had faith in us all, so I just got busy.
WELL...to my own great surprise and delight, not only did I qualify for the contests, I WON both of them! In 3 months I signed up 8 new listings, 3 new buyers and even closed one of the new listings (another one is currently under agreement). What's really cool is EVERYONE in the office jacked up their production during this time. The energy here is electric. If we were able to create something so amazing out of what at the time appeared to be nothing...I can't WAIT to see what we do next!

The Secret of Success

2010-03-20T19:39:00.000-07:00

I've started 2010 with a bang; business is better than ever before, and I'm ecstatic. The crazy thing now is people are asking me what the secret is. It wasn't that long ago when I was tracking down top producers, clamoring for the same answers.
I remember calling Sandy Magner up out of the blue. She didn't know me from Adam, but I knew she was one of the most successful agents in the area. Sandy is a great conversationalist. She can sit down for hours in a row and make dozens of cold calls. She also holds open houses like they're going out of style.
Next I asked Donna Gemborys, the queen of Eastham real estate. She sends out thousands of pieces of direct mail annually and has a paid assistant who manages the tedious aspects of the job.
Did they reveal the 'secret' to me? Well, I'm not sure. I'll call up the occasional homeowner if I know I can sell their house, and I do my open houses, but honestly I often sub them out to other agents in my office. And I send out postcards with every new listing and closing, and I'm even starting to 'farm' a couple of neighborhoods. If you were to ask me what I do that brings me the most business I would probably talk about my online presence and my person-to-person connections. But would that be my advice to you?
It's true; if you are phone prospecting for an hour a day, doing 2 open houses every weekend, cranking out a monthly mailing, hiring an assistant, hob-nobbing and blogging your brains out, it will be hard to fail. But I don't know anyone who does all that all the time. Not Sandy, not Donna, and certainly not me.
So then what's the damn secret??
It's actually not that mysterious. It's a lot less sexy than you might hope.
The 'secret' to success as I see it is: find the things that you are good at, that you like to do. And then do them--really DO them, with passion, persistence and vision. When something works, do it even harder. And for pete's sake, when something stops working, STOP DOING IT. Don't judge yourself by someone else's yardstick; chances are you're better than them anyway. Keep raising your own bar.
And blog. Definitely blog.

Spring is Sprung

2010-03-19T05:28:00.000-07:00

Last week I saw my first crocuses of Spring 2010-- a big swath of them on 6A in Brewster. A few days later I read in the paper that the right whales are back in Cape Cod. Then last night--my favorite spring sign of all--I heard the peepers in the pond across the street! Woo hoo! I've got forsythia branches forcing in the dining room. Next up: start watching for seagulls over the herring run.

Realtor Gone for the Weekend

2010-03-06T04:40:00.000-08:00

Writing from an Amtrak car this morning on my way to NYC for my daughter's gymnastics meet. Funny, the last time I rode a long-distance train I was with the same daughter, except we were in China and had only known each other for a few days.
In this job of real estate, I'm often on the clock when my clients and most normal people are off. This means my job often happens on weekends, holidays and evenings. One of the hardest parts of my job is drawing boundaries. No biz calls after 6, delegate some percent of open houses, etc. But even if clients aren't calling, there's work to be done 24/7 and it's hard sometimes to stop and just be something other than a realtor.
Like, say, a mother.
Yeah, I gotta go now, we're almost at Penn Station. Have a great weekend--see you on Monday!

- Posted using BlogPress from my iPhone

First Quarter Bodes Well for 2010

2010-02-26T10:27:00.000-08:00

Whenever I introduce myself as a Realtor, one of the first questions I get is, "How's business?" For a while now, that question has been puncutated with a little wince (from both of us!). No doubt, it's been a challenging 18 months or so.
However, from the word go in 2010, my response to that question has changed to, "Fabulous!" Here at 12 Bridge Street the recovery of the housing market is in full swing. Here are some of my stats in this first quarter so far:

Buyers whom I haven't heard from in 2 years are contacting me and getting back into the market.
Six new listings with 3 more in the works
One of those listings already SOLD (closed yesterday) from an offer that came in 6 days after it was listed
One more listing under agreement, from an offer that came in 2 days after it was listed

A lot of this activity is driven by the Federal Homebuyer Tax Credits. Existing homeowners stand to gain $6,500 at the closing table for buying a new primary residence. First time homebuyers can expect up to $8,000. This is not chump change!

May and June will be busy with closings, then we go into July, the busiest shopping month for Cape Cod real estate. Here's hoping that the activity we're seeing in the first part of the year will create enough momentum to get us back up to cruising altitude by the summer!

Complacency Kills

2010-02-22T03:53:00.001-08:00

Holding a commission-based position in an industry whose failure charcterized the worst recession in decades was (what gratitude I feel using the past tense) painful and demoralizing. It darn near did me in. But never once did I stop working my tail off, learning, keeping my chin up. Isn't that what they tell you to do? 'When the going gets tough the tough get going.' 'Invest in your future.' 'You will reap what you sow.'
Well I'm here to tell you the same thing. I lived through one year with zero closings. Then just last year I had two small ones in January, one in June and NOTHING til middle of December. Never mind my two front teeth--all I wanted for Christmas was to keep my house!
But now...holy cow. The first two properties I listed this year each sold in 6 days or faster. In the past 3 weeks I've had 8 listing appointments. At press time I've put 2 of those live, and it appears that 5 others will follow suit. The last one, partly on my advice, has elected to hold off until next year.
The abundance is humbling and electrifying. But more importantly I realize that this is not a time to rest. How easy it would be to kick back and soak it all up. But I have to remember that tomorrow's success is the dividend of today's investment. Success is unsentimental. It doesn't care who you used to be. I used to run a sub-25 minute 5K. I don't expect the field to slow down so I can place like I did in the past. If I want to keep winning, I have to keep running fast.

- Posted using BlogPress from my iPhone

Sales 3.0

2010-02-13T04:53:00.000-08:00

Sales 3.0

A Good Problem to Have

2010-02-04T18:53:00.000-08:00

If you wanted to buy a $500,000 house and you had the choice of paying with cash or a mortgage, what would you do? Why?
A lot of people go the cash route. After all, you worked hard for that $500,000, why give extra money to the bank if you don't have to? Plus, there's a lot of peace of mind and pride knowing that this significant asset is paid for. No monthly mortgage payment to be tied down to, all that equity to leverage.
But think about this: once you hand over that $500,000 it's gone. Yes, you have a house free and clear, but you don't have as many options as you did when you had the cash. And the old adage holds true: you can't take it with you.
These days, with interest rates at 50-year lows, taking a mortgage actually makes a lot of sense. With interest rates at or even below 5% and deductible interest, it's really only costing you somewhere around 3.75% . You might even be able to reinvest the unspent cash for a net growth.
First of all, when you take a mortgage and hang on to your money you now essentially have both a house AND money to enjoy. Ask yourself: Why did you work so hard for that money in the first place? To USE it. SHARE it. LIVE with it, ENJOY it. Also, when and if you decide to sell or refinance the house you always have the ability to shop around and negotiatiate for the best deals.
Now, I am not advocating reckless squandering of your savings. And if you lack the discipline and/or guidance to manage that wealth (think college-age heir), it might make a lot of sense for you to put every penny right into the house. However, if you have the wisdom to prudently handle your funds, you might like to keep at least some of that money available.
Consider the things you could do: travel with your spouse, friends or family; help a grandchild with college; reinvest; contribute to a favorite cause. You could even pay off that mortgage!
Ultimately, the decision how to manage your money is very personal. But before you surrender all of your savings into one place, think of what you want from your money and all of the different ways you can go about achieving that.

Do You Know Your Home’s Assessed Value?

2010-01-23T15:24:00.000-08:00

Why does it matter?
Your home’s assessed value is the number by which your town calculates your property taxes. The assessor’s office uses a variety of objective and subjective measures to come up with that value. And it is susceptible to errors, lags and omissions. Realtors and bank appraisers know that assessed value is only one piece of information that should be used when determining the actual market value of a home.

You Mean My Assessed Value Isn't Accurate?
Your town’s assessor’s office has to keep track of every single piece of property in your town; improvements that were made, damage that was incurred, changes in use or zoning, sales that transpire, market fluctuations, etc. It’s not a perfect science. A few of the disparities I have seen:

A 4-bedroom, 3-bath property is currently listed as having only 3 bedrooms, 1 bathroom and about 500 fewer square feet of living space than what was actually there. This homeowner has effectively enjoyed a 10-year tax break.
An unbuildable lot was assessed as if it were buildable. For almost 3 decades this homeowner had been paying close to 10 times the amount of tax that they should have been.
With my own home it took the assessor’s office a year to catch up with an addition and new garage that we added. That was just fine with us.
Certain land values in part of one town recently sprang up by 40% (while most values uniformly have been declining in the past 2 years). When I checked with the town they told me that the increase was initiated by the state but couldn't explain why.

For the town, these discrepancies all probably come out to a wash. But, as you can see, for the individual homeowner the consequences can be significant.

How do I find my home’s Assessed Value?
Assessed values are public record, and most towns put their database online. Google the words ‘online assessor’s database’ and your town name. Depending on the town you can search by name, address, map and parcel number, etc.
What comes up is called the Field Card. Inspect it carefully. Check the footprint sketch and measurements that are shown, the number of rooms and bedrooms, square footage, etc. There should also be record of any improvements you made for which a permit was issued.

What if I find an error?
If you find that the town has overvalued your property and is thus overcharging you for taxes, you can apply for an abatement. You can also ask for a reassessment if the town has undervalued your property. A possible reassessment scenario would be a homeowner who is trying to justify a high asking price on their home. However, this reassessment could result in higher than expect taxes for a prospective buyer (or the homeowner if they don't sell). Most folks just let sleeping dogs lie.
Monitoring your property’s Assessed Value is a lot like monitoring your credit score. It can have a big impact on your finances. The system works pretty well most of the time, but at the end of the day it’s run by human beings just being human. Nobody is more invested in its accuracy than you so it is your responsibility to keep the records straight.

Why Cape Cod Real Estate?

2010-01-15T20:59:00.000-08:00

Good question for both of us. What are you up to? Are you finally going to do it, get that second place by the beach? Or maybe it's time to find a beautiful, quiet place to settle down once and for all. For some of you it's a little less romantic. Perhaps you're trying to sell it before they take it away. Goodness knows Cape Codders are not immune to struggle. You might also be a lifer--the Cape has always been home to you, whether it was just summers or year round. Against all common sense you insist on living, working and raising a family here on the peninsula. Good for you. I'm doing the same thing.

My egocentric reasons for going into Cape Cod real estate came primarily from the fact that it gave me the ability to have some control over my income. Work hard and well and you will be rewarded. Slack off and go hungry. I have stayed in the field partly for that reason and partly because I've found that some of my natural talents and even quirks seem to be well-suited to a career like this, and that is very satisfying. I'm bold, intuitive, smart, and bore easily. I thrive on connecting with people and 'getting' them. And like all good salespeople, I identify real needs and fill them as quickly and thoroughly as I can.

If you want to know more about my experience and education I suppose I will find a place on this blog to publish it. However, I think you'll get to know me better just by reading my posts.