Category: general info

Categories
general info

Cape Cod’s Least Expensive Beachfront Listings

A very cool post from CurbedCapeCod’s Jazmine Donaldson.

Cape Cod’s Least Expensive Beachfront Listings, Nov. ’13’

Tuesday, November 12, 2013, by Jazmine Donaldson

55pond.jpg
[55 Pond Road, Truro via Kinlin Grover Real Estate]

It’s snowing (!!) making it the perfect day to head to the beach, at least by way of the Interweb. Last month, we wrote about waterfront properties listed for under $500,000, but we haven’t hit the beach since August. Here’s an update  of Cape Cod’s least expensive beachfront listings, by town. The 15 sandy abodes are asking $499,000 (for the above trap sheds) to $2,695,000.

Cape Cod’s Least Expensive Beachfront Listings, Nov. ’13
BOURNE
Asking $599,900, this Wing’s Neck waterfront beach house was built in 1920 and features 4BD, 1.5BA in 1,332 sq. ft. The .06 acre property comes with access to a private sandy association beach and dock.
47 BUENA VISTA ROAD, BOURNE, MA 02559
SANDWICH
“Oceanfront Duplex at Sagamore Beach!” Each unit in this ranch-style 1,225 square footer features 2BR, 1BA with separate entrances, parking and decks. Asking price is $699,900.
347 PHILLIPS ROAD, SANDWICH, MA 02532
FALMOUTH
We wrote about this Jetty Lane property on our map of available teardowns back in August. The existing 5BD, 3BA requires major restoration, but sits on 1.16 beachfront acres. Dunes, westerly views and sandy beach are yours for $2,185,000.
39 JETTY LANE, FALMOUTH, MA 02540
MASHPEE
Located on Popponesset Beach, this 1,055 sq. ft. 2BA, 1BA was built in 1942 and is asking $1,500,000.
39 WILSONS GROVE, MASHPEE, MA 02649
BARNSTABLE
This Barnstable Village contemporary first hit the market in October 2012 asking $2,249,000. Three pricechops later, the 3BD, 2BA “on the sandy shores of Barnstable Harbor” is down to $1,695,000.
100 BAY VIEW ROAD, BARNSTABLE, MA 02630
YARMOUTH
Per the listing, “This classic Cape Cod home is beautifully sited on 1.2 acres with 200′ feet of waterfront & high elevation & protection from inclement weather.” Built in 1934, this 3,980 sq. ft. 6BR, 5.5BA has been on and off the market since it debuted in May 2010 asking $2,650,000. Three-plus years and three chops later, the ask is down to $1,795,000.
188 BERRY AVENUE, WEST YARMOUTH, MA 02673
DENNIS
Appropriately located on Ocean Avenue, this beachfront 4BD, 2BA has views of Nantucket Sound from almost every room. Built in 1940, the 1,350 sq. ft. Curbed Comparison’s alum is asking $849,000.
5 OCEAN AVENUE, DENNIS, MA 02670
HARWICH
Here’s another potential teardown, this one on .59 waterfront acres with 117′ of sandy beach on Nantucket Sound. The listing first appeared on the market in 2009 asking $3,300,000. Today, the asking price is $2,500,000.
55 SHORE ROAD, WEST HARWICH, MA 02671
CHATHAM
Technically, there’s a road between this Chatham 3BD, 4BA and Nantucket Sound, but it’s a beach house nonetheless. The 3,136 sq. ft. home on .25 acres has been bouncing on and off the market since February 2009 when it was asking $3,595,000. Four-plus years and four chops later, it’s asking $2,695,000.
38 BILLINGS ROAD, CHATHAM, MA 02633
BREWSTER
This Brewster Dunes year-round co-op features a working lighthouse – really. The 2BD, 2BA comes with its own private beach and is asking $890,999.
OCEAN SAINT EXTENSION, BREWSTER, MA 02631
ORLEANS
Built in 1955, this contemporary beachfront home features 4BD, 2BA. With “stunning views of Nauset beach,” the property “has a successful rental history exceeding $50,000 in rental income for July & August for 2013.” Asking price is $1,600,000.
49 ASPINET ROAD, EASTHAM, MA 02642
EASTHAM
A former pricespotter, this 3BD, 2BA is “nestled into the dunes of Kingsbury Beach!” The pricechopper has visited since we wrote about the property and it’s now asking $1,050,000.
27 LONGSTREET LANE, EASTHAM, MA 02642
WELLFLEET
“Living on the edge!” This 4BD, 3BA sits 80′ above sea level on Sunrise Dune in the Cape Cod National Seashore. The 2,500 square footer overlooking the Atlantic Ocean hit the market in May for $1,250,000. Two pricechops have brought the ask down to $1,050,000.
780 OCEAN VIEW DRIVE, CAPE COD, WELLFLEET, MA 02667
TRURO
Remember the trap sheds on the beach? Once asking $575,000, the beachfront 1BD cottage with twin studio have been pricechopped down to $499,000.
55 POND ROAD, TRURO, MA 02642
PROVINCETOWN
The current owners purchased this bayfront building back in 1963 for $16,000. Fast forward to today and the circa 1860 seasonal two-family is on the market for $1,500,000. That’s a 9,275% jump in value for a fixer-upper “in the flood zone.”
509 COMMERCIAL STREET, PROVINCETOWN, MA 02657

 

Categories
general info

Price Gain Strongest In 8 Years

NAR’s third quarter analysis.

Home prices post strongest annual gain in nearly 8 years

Pace of sales hits 5.36M a year during third quarter, best since 2007
Inman News

Inman News Staff Writer

Home prices in most metropolitan areas grew significantly in the third quarter, with the national median price rising at its fastest annual clip in nearly eight years, according to the National Association of Realtors (NAR).

During the same period, existing homes sold at the fastest annual rate recorded in more than six years, according to NAR’s latest quarterly report on metro area median prices and affordability.

Despite the robust price growth, NAR estimated that potential buyers still had adequate income in most areas to purchase a home in the third quarter. Nonetheless, market momentum is changing, according to Lawrence Yun, chief economist at NAR.

“Rising prices and higher interest rates have taken a bite out of housing affordability,” Yun said. “However, we have the ongoing situation of more buyers than sellers in the market, so lower sales will help to take the pressure off home price growth and allow them to rise slowly at a single-digit growth rate in 2014.”

The national median existing single-family home price increased by 12.5 percent year over year to $207,300 in the third quarter, the strongest year-over-year gain since the fourth quarter of 2005 when it shot up 13.6 percent, according to the trade group.

In the second quarter, the median price reportedly rose 12.2 percent year over year.

Meanwhile, NAR said existing-home sales jumped 5.9 percent to a seasonally adjusted annual rate of 5.36 million in the third quarter from 5.06 million in the second quarter.

On an annual basis, they reportedly increased 13 percent. The third-quarter pace of sales was the highest recorded since the first quarter of 2007, when it hit 5.66 million, NAR said.

The report’s findings also highlighted the market’s sharp inventory shortage.

At the rate of sales in the third quarter, the existing-home inventory of 2.21 million homes for sale would have cleared in just five months, down from 5.9 months in the third quarter of 2012.

 

Categories
general info

Wellfleet Weidlinger House Funding Update

Great funding effort by CCMHT to save Weidlinger House. CurbedCapeCod’d great story below. (With an update)

Curbed Cape Cod Update: The Cape Cod Modern House Trust’s (CCMHT) Kickstarter campaign to save Wellfleet’s Weidlinger House by raising $50,000 towards the much-needed restoration ends tomorrow. So far, they’ve raised $59,249, making the crowdfunding venture a success. However, the iconic mid-century building is such a hot mess that the CCMHT is naturally hoping to raise as much funding possible. Just in time, a donor has stepped up and offered a $5K match if the campaign reaches $60,000 by Saturday. All the details, this way. [previously; Kickstarter]

 

Weidlinger House Restoration Funding 

Thursday, October 24, 2013, by Jazmine Donaldson
WeidlingerHousegut.jpg

[The pond side of the house today. Photo: Raimund Koch]

The Cape Cod Modern House Trust has hit the crowdfunding circuit to save the Weidlinger House. Built in 1953, the iconic structure will soon be listed on the National Registry, but is in urgent need of restoration. Per the Kickstarter campaign:

Due to a lack of resources from the Park Service, this irreplaceable piece of our cultural heritage ended up abandoned and slated for demolition in the pristine landscape of the Cape Cod National Seashore. The Cape Cod Modern House Trust (CCMHT) has obtained a lease and begun a full restoration, which we hope to finish, with your help, by July, 2014. This Kickstarter campaign is to raise $50,000 toward that goal.

So far, the Cape Cod Modern House Trust has raised $40,443 of their $50,000 goal. Donations, this way.

 

Categories
general info

Pic Of The Week

The West End of Commercial Street looking toward  Relish from right before the West End lot.  And everyone thinks we slow down in the “shoulder months”. Nope – just making it better for everyone.  The most gorgeous walk in New England from the Coast Guard station to the The Red Inn will be even more beautiful – and easier on the feet. The granite curbs are in and the first layer of pavement will go down soon.

 

IMG_0736

 

 

Categories
general info

Favorite New Listing Of The Week

8 Meadow Lane #2, $529K, is a 2 bedroom, 2 bathroom condo with 954 square feet. Located in the West End, a short bike ride or walk to Herring Cove beach, this sunny and immaculate town home built in 2006 offers spacious living on three levels. The main floor is comprised of an open living and dining area and a kitchen with granite countertops and stainless appliances. The bedrooms have nice separation and privacy from one another, with a bedroom and full bath each on the top floor and the lower level. A deck off the kitchen and a french door from the lower level both lead to a lovely stone patio out back for outside living. The unit has pine floors throughout, air conditioning, a washer/dryer hookup and deeded parking.

529K

21310033_01

21310033_14

 

 

 

 

 

 

This is a great condo in the West End near the bike shop in a well run condo association. The two bedrooms are separated by the living floor; there is a very private walk out garden and patio off the lower level bedroom; and there is tons of light from the oversize windows especially on the main floor.

Categories
general info

October Snapshot – Provincetown

October and November are historically the heaviest closing months in Provincetown and this October is no different. 11 single family properties closed and 18 condos closed. Thats 24% of all single family properties sold YTD and 17% of all condos sold YTD.  November looks to be a strong closing month as well.

The average price of a condo sold in October was $491K, and the average list to sale ratio was 97%. The average sale price for a single family property sold was $867K which was 93% of asking price.

Below are three of those condos that sold. 28 Conwell  Street was a very sweet 2 bed/1 bath 400 sf cottage  hidden behind charming white gates; 3 Carnes Lane was a really wonderful 2 bed/2 bath with close to 1500 square feet, and  21 Bradford Street Ext. #1 was a 3 bed/4 bath new construction condo at Herring Cove Village with 2,270 square feet. The average ppsf of condos sold in October was $644.

28 Conwell #3, $375K sold
28 Conwell #3, $375K        sold
3 Carnes Lane #2, $672K, sold
3 Carnes Lane #2, $672K,  sold
21 Bradford St Ext #1, $1.075M
21 Bradford St Ext #1, $1.075M, sold

 

 

 

 

 

 

 

Below are three single family properties that sold in October.  29 Tremont Street was a 3 bed/2 bath house with a separate private cottage in the West End; 11 Thistlemore was a 3 bed/3 bath contemporary with 2150 sf; 1 Pilgrims  Landing was a 3 bed/3 bath house with 4265 square feet that on a price per square foot basis was the deal of the month at $331 psf. The average ppsf of sold single family  properties in October was $542.

29 Tremont St $995K, sold
29 Tremont St $995K,        sold
1 Pilgrims Landing $1.415M, sold
1 Pilgrims Landing $1.415M, sold
11 Thistlemore Rd, $657K, sold
11 Thistlemore Rd, $657K, sold

 

 

 

 

 

 

 

Listing activity was robust as well with 15 condos coming on the market with an average price of $512K and 7 single family properties coming on there market with an average price listing price of $1.417M

The three newer listings below illustrate well the diversity of inventory in Provincetown. 95 Race Road #11 is a great value with 2 bedrooms and 2 baths and 1,310 square feet.  19 Tremont Street #1 is one of the nicest 2 bedroom 2 bath condos we have seen in a long time, with incredible outside space, a nice kitchen and a living room with fireplace and vaulted ceilings. It could already be under contract. 6 Cottage Street #1 is a large guest house that is being converted into two condominiums. Unit #1 is a 7 bedroom, 8 bath 3,126 square foot condo on the block between Commercial and Tremont with one of the best locations on town.

95 Race Road #11, $337K
95 Race Road #11, $337K
19 Tremont St #1, $649K
19 Tremont St #1, $649K
6 Cottage St #1.559M
6 Cottage St #1.559M

 

 

 

 

 

 

 

Again showing broad diversity are the 3 newer  single family listings below. 78 West Vine Street is a news 2 bed/2 bath single with close to 1500 square feet. 81 Bayberry is one of the nicest 3 bed/2 bath singles we have seen in some time. 5 Dyer is a landmark 4 bedroom/3 bath house with 4661 square feet on what is arguably one of the best locations on town.

78 W Vine Sr $879K
78 W Vine St $879K
81 Bayberry Ave $885K
81 Bayberry Ave $885K
5 Dyer St $1.499M
5 Dyer St $1.499M

 

 

 

 

 

 

 

November is shaping up to be as busy as October was. We’ll keep you posted.

Categories
general info

Empty Nesters Transitioning

As many of our generation turn into “empty nesters” or are otherwise transitioning from the suburbs to the city, or from the city to their country house…there are all sorts of new dynamics affecting those plans. Good post from Scott below.

Empty nesters struggling to land

Posted by Scott Van Voorhis

There’s good news if you are nearing retirement and want to downsize. You can sell your home now, and, if you are lucky enough to live in an upscale suburb like a Belmont or a Newton, you might be able to find a buyer within a week or two.

The bad news? After selling the big and now empty house you have painfully resolved to say goodbye to, finding that downtown condo or one-floor ranch you have been yearning for may not be all that easy.

In fact, if you want what you want, you could end up paying more to downsize.

Here’s a piece I wrote for the Globe West looking at three pairs of empty nesters. Two managed to land, while the third, in Lexington, is still weighing their options.

They are the lucky ones. Downtown Boston condo prices are soaring, while those modest ranches and other smaller homes in the suburbs are already being fiercely fought over by young families looking for the first house. (Of course, the number of ranches and capes in the more expensive ‘burbs is dwindling as they are torn down to make way for McMansions, but that’s a story for another day.)

Here’s what Ilene Solomon, a long-time Newton broker who deals every day with empty nesters, told me.

She estimates it could cost as much as $2 million for, say, an empty nester selling a big house in Newton or another upscale suburb to find real estate happiness in downtown Boston.

Others are opting to stay in town or close to it, buying or condo or renting in an apartment complex like Charles River Landing in Needham.

Still, finding a condo in the suburbs is no cinch either, with the pickings pretty slim right now.

“The biggest dream is to go into Boston and get a wonderful place and start a new, exciting life,” Solomon said.

Are you an empty nester? What does the real estate market look like to you?

 

Categories
general info

Low Interest Rates – Forever?

Another good post by Scott.

Low interest rates today, tomorrow, forever?

Posted by Scott Van Voorhis  October 10, 2013 09:30 AM

Who knows where the economy will be by the time the Tea Party wrecking crew in Congress finally wears itself out.

But if there is any near certainty, it is the latest bout of uncertainty the nuttiness in Washington has injected into an already wobbly economy will keep interest rates at their historically low levels for some time to come.

Ben Bernanke and the Fed over the summer flirted with cutting back on its multitrillion-dollar home buyer subsidy program – known as quantitative easing – amid signs of a modest improvement in the economy.

But of course Big Ben beat a hasty retreat in September after the Fed’s well telegraphed intentions started to push up rates and spook the housing market.

Now with the threat of a slowdown or even a full blown Depression looming should Congress force the federal government to default on its debt payments, there’s zero chance the Fed will be backing off from its $85 billion a month mortgage bond buying program anytime soon.

President Obama’s choice of Janet Yellen to fill Big Ben’s shoes – she’s a strong supporter of the Fed’s cheap money policies – all but seals the deal, as economist Elliot Eisenberg notes in his daily “Laughs and Graphs” blog.

Here’s Elliot, the former chief prognosticator of the National Home Builders Association.

Given the government closure and resulting lack of economic data, the fact that Q3 GDP growth will be below 2% and that inflation remains very tame, virtually guarantees that tapering will not commence following the conclusion of the late October Fed interest rate setting meeting. Now with the formal nomination of Janet Yellen for the post of Chairman, I’m 100% sure tapering will not commence before January.

This is big news for home buyers – today’s low interest rates, hovering now at 4.25 percent for a 30 year mortgage, represent a massive government subsidy.
.
At their current, rock bottom level, today’s interest rates shave as much as 30 percent off the average monthly mortgage payment, at least compared to what it would be under more historically normal rates of 7 or 8 percent.

It’s hardly all gravy. There is a strong argument to be made that home buyers still pay for it all by having to pay more of the same house – just look at what’s happening with home prices.

But frankly most home buyers, for good or ill, aren’t looking at it that way.

 

Categories
general info

Cape Cod Waterfront Under $500K

Interesting CurbedCapeCod post below showing a great assortment of waterfront homes all over the Cape.

10 Cape Cod Waterfront Properties Listed for Under $500K

Monday, October 14, 2013, by Jazmine Donaldson

596shorerdtruro.jpg
[596 Shore Road, Truro via Zillow]

There are currently 183 waterfront properties for sale onCape Cod that are asking under $500,000. We dug though the listings to find the very best, most interesting and/or unique condominiums and single family abodes on the water. From an East Sandwich Beach cottage behind the dunes to a PTown condo on Cape Cod Bay, here’s a map of waterfront properties for under $500,000.

SANDWICH
Kicking off with a classic waterfront cottage on East Sandwich Beach, this 698 sq. ft. 2BD, 2BA comes with “limited views of Cape Cod Bay.” Something about a dune in the way. Regardless, asking price is $450,000.
143 NORTH SHORE BOULEVARD, SANDWICH, MA 02537
FALMOUTH
Built in 1920, this 708 sq. ft. 1BD, 1BA Woods Hole Village cottage is set on .26 acres on Mill Pond. The renovated home is listed for $449,000.
18 PARK ROAD, FALMOUTH, MA 02543
MASHPEE
Here’s a 840 sq. ft. 2BD, 1.5BA townhouse in New Seabury’s Maushop Village. The unit includes water views and direct access to a private ocean beach on Nantucket Sound. Yours for $499,000.
VINEYARD VIEW LANE, MASHPEE, MA 02649
HYANNIS
Unit A3 is a 574 sq. ft. 1BD, 1BA overlooking Kalmus Beach (rejoice, windsurfers and kitesurfers!) and Nantucket Sound. Per the listing, the condo rents for $2K/week, in season. Asking price is $435,000.
21 HAWES AVENUE, HYANNIS, MA 02601
SOUTH YARMOUTH
“MILLION DOLLAR VIEW!!!” But wait, there’s more! This 1,100 sq. ft. 2BD, 2BA penthouse condo comes with a fireplace, deck, pool, and a 30′ dock with access to Nantucket Sound. Unit 17 is your for $459,900.
BRIDGE STREET, DENNIS, MA 02660
DENNIS PORT
Waterfront? Check. Private dock? Check. Access to Nantucket Sound? Check again. This 542 sq. ft. 2BD, 1BA cottage with a 22′ screened porch is asking $275,000.
130 INDIAN TRAIL, DENNIS PORT, MA 02639
CHATHAM
Set on .43 acres on Mill Pond, this 1,008 sq. ft. 1BD, 1BA (with a 3BD septic) “cute and open concept” split level was built in 1994. Asking price is $350,000.
108 MILL HILL ROAD, CHATHAM, MA 02659
ORLEANS
This adorable contemporary saltbox features 2BD, 2BA in 1,260 sq. ft. The .60 acre property on Uncle Israel’s Pond has a “great rental history” and is asking $430,000.
6 AUNT ABIGAILS WAY, ORLEANS, MA 02653
TRURO
According to the brokerbabble, if you’re “looking to own a little piece of paradise in Truro,” this listing fits the bill. The 488 sq. ft. 2BD, 1BA attached cottage is asking $399,000.
596 SHORE ROAD, TRURO, MA 02657
PROVINCETOWN
Per the listing, unit 9C boasts “The best view in the entire complex, more than 180 degrees, water can be seen from every window in this home.” The 700 sq. ft. 2BR, 1BA beachfront condo is asking $469,000.
945 COMMERCIAL STREET, PROVINCETOWN, MA 02657
10 Waterfront Properties for Under $500K

 

Categories
general info

Goode and Farmer Report – Boston October 2013

Most Boston neighborhoods are showing a very real trend as we look at third quarter sales. The sales increases we have seen quarter after quarter are moderating. Average sales prices continue their upward trend and average days on market are plummeting. In all Boston neighborhoods combined the average total days on market has decreased an average of 47% in 2013. The number of available condos for sale has decreased an average of 6% from this time last year. Inventory numbers are at a record low of 686 condos for sale in all Boston neighborhoods.

All Boston neighborhoods combined saw an 8% increase in the average sales price of condos to $592K from $544K last year. The total number of condos sold increased 6% to 3,599 units from 3,407 last year.

The Back Bay saw a 9% increase in average sales price to $1.215M but a 9% decrease in sales from 402 in 2012 to 365 this year. The inventory of available condos is equal to last year as 73 condos are available for sale.

The South End saw a 12% increase in the average sales price to $772K from $687K in 2012 and a 15% increase in the number of sales to 463 from 427. Inventory of condos for sale decreased 13% to 63 from 72 last year.

South Boston experienced a 10% increase in average sales price to $463K from $420K. Available condos for sale increased by 54% to 88, the largest and only increase in inventory in any Boston neighborhood. The number of sales increased 4% to a total of 489 from 471 last year.

The outlier neighborhood is Beacon Hill which saw a 21 % decrease in unit sales to 110 from 139 last year but did see a 12% increase in average sales price to $892K. Average days on market decreased 57% to a Boston low of 30 days! There are only 21 condos available for sale on The Hill.

The moderating number of sales as well as the crazy decrease in days on market…shows that inventory is of course the problem. While the market continues to show resilience, declining inventory levels are beginning to impact sales as is evidenced on Beacon Hill and Back Bay.

 

Boston Q3 chart

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

We will watch the fall market closely for the effect of declining inventory levels. The addition of many units for sale in South Boston is one positive sign, and we will see what develops going forward.