Tag: Cape Cod

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When Will Home Values Return To Peak?

Interesting post with a national perspective from HW  Housing Wire’s Trey Garrison.

Home prices won’t return to peak levels until when?

Clear Capital sees 3-5% appreciation rate

 

Home prices are growing slowly but remain in line with inflation, Clear Capital reported in its Home Data Index, but at this pace it will be 2021 before they return to peak prices.

National home prices are right in line — within 2% — with inflation adjusted long-run average levels, which Clear Capital says shows prices have normalized post-bubble and future rates of growth will look more like historical rates of growth. Home prices have typically gained between 3% and 5% a year.

At the current quarterly rate of national growth, peak prices won’t be reached until the year 2021.

“With the majority of metro markets still so far below peak prices, it’s time for conversations surrounding price trends to shift away from the 2006 peak as the point of reference, and back to current trends and forecasts,” said Dr. Alex Villacorta, vice president of research and analytics at Clear Capital. “While there are certainly investors and homeowners holding real estate assets that will be underwater for seven years or more, the current housing market is positioned to behave very similar or even below historical norms, given the current economic climate.”

“For new deals and investors without legacy assets, the new housing environment should be framed in terms of more typical, moderate rates of growth with tempered optimism for the ongoing housing recovery,” Villacorta said.

He added that Clear Capital sees a steady growth pattern, and no bubbles in housing.

“Nationally, we don’t see evidence of a price bubble forming again. Double digit gains over the last year, while similar to rates of growth in the run-up to the bubble, are off a much lower price floor. Phoenix and Las Vegas, however, are showing signs of overheating,” he said.

“These markets skyrocketed off very low price floors as their low-tier and distressed market segments exploded with demand,” Villacorta added. “Each market saw yearly gains top out around 30%, and now are seeing price gains cool substantially. Las Vegas has seen more than a 10 percentage point pull back in just three short months, even though prices remain 20.8% below 2000 levels, after adjusting for inflation. Meanwhile, Phoenix’s yearly gains are down to 19.8%, with prices now 1.9% above 2000 levels after adjusting for inflation. We’ll be watching these markets closely throughout the winter to see how demand holds up.”

Inflation adjusted home prices at the metro level show 46 out of 50 metro markets’ home price levels at pre-2003 levels, with 25 out of 50 metros reporting prices below 2000 levels.

Because the majority of markets remain far off peak values, the peak becomes a less relevant point of reference for new investors and homebuyers. Honolulu is the only metro out of the top 50 to see home prices within peak levels, with inflation adjusted home prices resting at levels last seen in 2005. This anomaly has, in part, been driven by very unique supply and demand, a benefit of being a highly desirable tropical island.

While prices remain far off peak values, current trends continue to moderate across the country.

National yearly gains cooled to 10.8%, a trend that should continue over the next several months. Yearly gains at the metro level are moderating as well, with Sacramento now seeing the highest yearly gain at 25.4%, down from a high of 28% in October. Las Vegas has seen substantial pull back in January with yearly gains of just 21.3%, down from 32.4% in October.

Using a broad array of public and proprietary data sources, the HDI Market Report publishes is a granular home data and analysis earlier than nearly any other index provider in the industry.

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How Cool Is This Chart?

How far will a million bucks go in NYC?

$1 million will likely net more space in NYC versus San Francisco and Boston.


By Business Insider

According to Knight Frank data cited by CNBC’s Robert Frank, a million dollars goes a lot further in Cape Town than it would in Monaco.

But what about in the U.S.?

We looked at housing list price data from real estate brokerage Movoto.com and real estate marketplace Zillow.com. The diagram below shows the number of square feet of housing that you can buy for $1,000,000, based on the median price per square foot in each city:

city-real-estate-chart-corrected

With a median list price of $666 per square foot, San Francisco’s real estate boom limits a million dollars to buying about 1,500 square feet. On the other end of the spectrum, the median list price in beleaguered Detroit is just $12 per square foot — 55 times cheaper than in San Francisco.

Considering all five boroughs, the median price per square foot in New York City is $424. Looking just at Manhattan however, that price jumps to an astronomical $1,538 per square foot, leading to $1,000,000 buying just 650 square feet.

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$459K On The Cape

I  love Curbed Boston/Cape Cod “comparison” posts. While our business is focused mostly in Provincetown and Truro it’s always interesting to see whats happening “up Cape”. There are some terrific deals here.

What $459,000 Can Buy You Around Cape Co

 Jazmine Donaldson

It’s time once again for Curbed Comparisons, where we break down what you can get at the same price point, style or size in five different Cape and Islands neighborhoods. This week, listings for $459,000.

459cc.jpg

Here now, 10 Cape Cod properties asking $459,000 – seasonal, year round, fixer uppers, turn-key, upside-down, a lakefront cottage, condos, and space for the in-laws – with a little something for everyone.

What $459K Can Buy Around Cape Cod
BOURNE
Kicking off in the village of Gray Gables with an updated 2BR, 1BA ranch across from the Cape Cod Canal. The 1,183 square footer was built in 1948 and is asking $459K.
95 JEFFERSON ROAD, BUZZARDS BAY, MA 02532
FALMOUTH
Here’s a Sippewissett townhouse with 3BR, 2.5BA in 1,611 square feet. The two-level unit was built in 1998 and asking $459K.
37 CARLSON LANE, FALMOUTH, MA 02540
SANDWICH
This 4BR, 3.5BA East Sandwich Cape comes with a first floor master, 1BR in-law, and multiple fireplaces. The 2,922 square footer hit the market in September looking for $479K and is now asking $459K.
5 RIDGEWOOD DRIVE, EAST SANDWICH, MA 02537
MASHPEE
Here’s another renovated 2BR, 1BA ranch, this one in the village of Popponesset with deeded rights to Popponesset Beach (say that fast, five times). The 1,128 square footer on .15 acres was built in 1960 and is asking $459K.
38 UNCLE EDWARDS ROAD, MASHPEE, MA 02649
CENTERVILLE
Behold, a “charming 1 bedroom, 1 bath cottage on 0.51 Ac. overlooking Wequaquet Lake.” The 512 square footer sits on .51 acres and features a private dock. The spread hit the market in 2011 looking for $595K, but three chops have brought the ask down to $459K.
107 HUCKINS NECK ROAD, CENTERVILLE, MA 02632
DENNIS
In Dennis Village, here’s a 3BD, 2BA “Adorable Story Book Half Cape With Distant Bay Views.” The 1,441 square footer on .57 acres last sold in 2008 for $440K and is now listed for $459K.
26 PACKET DRIVE, DENNIS, MA 02638
SOUTH YARMOUTH
“Overlooking the 7th and the 16th hole” in Par 11 Estates is this 1,668 square foot 3BD, 2BA ranch. Located on the appropriately named Driving Tee Circle, the renovated digs are yours for $459K.
106 DRIVING TEE CIRCLE, SOUTH YARMOUTH, MA 02664
CHATHAM
Look, a ranch! Built in 1982, this 3BR, 2BA on .3 acres is “tucked back off the road” and features central air. Yours for $459K.
192 ORLEANS ROAD, NORTH CHATHAM, MA 02650
ORLEANS
The brokerbabble starts off by calling this property “unique” and we couldn’t agree more. Built in 1950, this 4BR, 3BA saltbox-and-then-some sits on 1.14 acres on the fun sounding Frost Fish Lane and is yours for $459K.
15 FROST FISH LANE, ORLEANS, MA 02653
TRURO
Finally, to a 3BR, 2BA upside-down contemporary with multiple decks and natural landscaping “so you can spend more time relaxing and enjoying this wonderful retreat without upkeep.” The 1,742 square footer on .81 acres hit the market in May 2013 for $479K, but is now yours for $459K.
9 GLACIER DRIVE, TRURO, MA 02631

 

 

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The Sky Is Not Falling

A perfect post by the incredible KCM crew. They do a great job highlighting assumptions around what is causing the national trend towards decreasing sales numbers, and then debunking them with Reality. We are seeing some of these dynamics in our local markets. This is a very good post with a broad national slant on the issues…for consumers and agent/brokers too.

Be Quiet Chicken Little. The Sky is NOT Falling

by 

There has been much speculation about what is causing the falling sales numbers in the most recent Existing Home Sales Reports (EHS) from theNational Association of Realtors (NAR). Some have claimed that rising interest rates have scared buyers out of the market. Others have claimed that consumers are just losing confidence in the housing recovery fearing a new bubble may be forming. We want to look at the validity of these two assumptions.

MORTGAGE INTEREST RATES

ASSUMPTION: Rising interest rates have forced buyers back onto the fence. Evidence offered up by those in this camp comes directly from the EHS Report from NAR. Three of the last four reports revealed that sales were below sales from the same month the previous year.

THE REALITY: Though it is true year-over-year sales have fallen nationally, a closer look at the report reveals major regional differences. Sales in the West Region are down 10.7% versus the same month last year. Sales in the Midwest Region are also down but by less than 1%. The Northeast Region is up 3.2% and the Southern Region is up 4.6%.

If the issue is interest rates, why is one region virtually unchanged and two of the remaining three regions up in sales? We don’t believe rates are the challenge.

CONSUMER CONFIDENCE in REAL ESTATE is ERODING

ASSUMPTION: The pace of the recent price increases has caused many to fear the emergence of a new housing bubble. Similar to the first assumption, evidence offered up by those in this camp comes directly from the less than enthusiastic EHS Reports from NAR.

THE REALITY: As we mentioned before, sales in the Midwest Region are down but by less than 1%. The Northeast and the Southern Region have both shown increased sales as compared to the year before. Are only the consumers in the Western Region afraid of a possible bubble forming?

The fear of a new housing bubble is vastly overstated. Forty states have not yet returned to home values they experienced seven to nine years ago. Nineteen of those forty states still have home prices 15% or more below peak prices. We believe home values will continue to increase but just at a slower rate of appreciation.

It is not just us that believe this is the case. The over 100 housing experts recently surveyed by Pulsenomics revealed that they believe prices will continue to appreciate at historical annual numbers (3-4%) for at least the next five years.

THEN WHAT IS THE CHALLENGE?

If the lack of sales is not the result of increasing interest rates or decreasing consumer confidence, what actually is happening? We believe it can be broken down to three words: LACK of INVENTORY.

Inventories of foreclosure and short sale properties are falling like a rock in the vast majority of regions across the nation. These two categories of homes have driven the market for the last few years. As foreclosures and short sales sell, they are not being replaced because the economy has gotten better and more families have regained control of their finances. All fifty states have seen a decrease in the number of homeowners who are seriously delinquent on their mortgage payments with thirty nine states seeing the number shrink by over 20%.

This inventory has not yet begun to be replaced by the non-distressed properties in the country. Just this month, NAR revealed that the months’ inventory of homes for sale has dropped to only a 4 month supply. A normal market has between 5-6 months’ supply.

This is the main reason home sales are declining in certain regions – there are just not enough houses for sale.

BOTTOM LINE

With the economy improving and with homeowners gaining back some equity they lost when prices fell, we believe there will be many homes coming unto the market this spring. A recent survey revealed that 71% of homeowners are at least considering selling their home in 2014.

If you are thinking of selling, beating this increased competition to the market before spring might make sense – and might enable you to get the best price possible for your home.

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U.S Real Estate Is Cheaper Than Most!

 

Boy does this post put things in perspective. An interesting world view from Colin Robertson at The Truth About Mortgage! The post is a little long and wonky but gives us a needed perspective – like that the median price in Hong Kong is $4.024M!

Real Estate in the United States Is Actually Cheaper Than Most Other Parts of the World

 January 21, 2014

Real Estate in the United States Is Actually Cheaper Than Most Other Parts of the World

Believe it or not, real estate in the United States is actually really cheap, assuming you compare it to what others are paying in places like Asia, Europe, Canada, and Australia.

A new report released today by Demographia compared housing affordability in 360 markets worldwide and found that the U.S. was far and away more affordable than other countries.

In its 10th Annual International Housing Affordability Survey (which relied upon data from the third quarter of 2013), the company looked at median home prices and household incomes to determine if the dream of homeownership was within reach.

They took the median home price and divided it by the median gross household income to come up with different levels of affordability.

Historically, the median multiple has been similar across the nine nations surveyed, with median home prices typically three times (or less) median household income.

[The Home Price vs. Income Rule of Thumb]

Real Estate in Hong Kong Is Reserved for the Uber Rich

cheap and expensive

But times have changed…

Using that metric, Hong Kong was the least affordable major metropolitan area in the world with a staggering median multiple of 14.9.

In Hong Kong, which is a special administrative region of China, the median household income was $270,000 as of the third quarter.

While that sounds amazingly great, the median home price was $4,024,000. In other words, good luck.

For the record, Hong Kong was the most unaffordable major market (1,000,000+ population) in the world for the fourth year in a row.

Our neighbors to the north have a pretty expensive city of their own, with Vancouver coming in second place in terms of being largely unaffordable.

There, the median home price was only $670,300, but the median household income was just $65,000. That’s a multiple of 10.3, which makes it “severely unaffordable,” according to Demographia’s definition.

The third place you’ll never be able to afford a home is in San Francisco-Oakland, California. Hey, I didn’t say everything in the U.S. was affordable…

The Bay Area had a pretty sizable multiple of 9.2, with the median home price $705,000 and median income $76,300.

The fourth spot was located down under, with Sydney boasting a multiple of 9.0 with a median $722,700 home price and $80,500 median income.

Rounding out the bottom five was San Jose, CA, with a multiple of 8.7. There, the median home price was $805,000 as of the third quarter, higher than SF. And the median income was a hefty $92,400.

Numbers six through 10 included Melbourne, Auckland, San Diego, Los Angeles, and London.  So again, lots of U.S. cities, but those are the outliers.

Unfortunately, it’s a mess that will likely never get better because severely unaffordable markets are also the most attractive to buyers looking to snag short-term profits and “extraordinary returns on investment.”

As a result, home prices in these sought-after regions rise further, thanks to what the report calls “urban containment,” or a lack of land aka supply. Then unsustainable prices in these very cities cause mass damage to the economic system.

The report also pointed out that for young households, the “California” dream requires moving to other states, such as Texas, Indiana or Georgia…

Ireland Is the Most Affordable Nation

affordability ratings

The U.S. also had 84 “affordable” markets, compared to just seven in Canada and four in Ireland. The other regions had ZERO.

Additionally, the U.S. had 100 “moderately affordable” markets, compared to just a handful in other regions of the world.

Overall, the U.S. multiple was 3.4, which is just above the affordable mark. And a lot of pricey regions like California and New York are probably skewing the data.

The only other country to beat us in terms of overall affordability was Ireland of all places. There, the multiple was a low 2.8.

The top 23 major markets were also all located in the United States, with Pittsburgh the most affordable with a 2.3 median multiple.

It was followed by Detroit with a multiple of 2.5, Grand Rapids and Rochester with multiples of 2.6, and Atlanta with a multiple of 2.7.

In all, the U.S. accounted for 40 of the 50 most affordable major markets in the world. So stop complaining! There are plenty of bargains to be had.

[Tips for First-Time Home Buyers]

Who Cares About Worldwide Home Prices?

Why should we care about housing affordability worldwide? Shouldn’t we just focus on local home prices to make real estate decisions?

Sure, it’s good to stay local. But knowing what’s going on in the world is important too.

For example, if home prices are cheap in the U.S. relative to other regions of the world, including places as close as Canada, there’s a good chance those foreigners will be looking to invest in our neighborhoods.

Assuming they do, the supply/demand picture will change, meaning home prices should get a boost. Of course, this could also make it more difficult to land that dream home too.

 

 

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Least Expensive Single Family Homes In Truro

The single family market in Truro is as varied as anywhere else on Cape Cod.  Here are the 3 least expensive singe family properties on the market in Truro. They range from 2 to 4 bedrooms, and from 624 to 1,329 square feet.

11 Josephs Rd $399K11 Josephs Road is being offered at $399K. It has 4 beds, and  1 bath and has 624 sf. The MLS description says it is in a great location, and in a private setting, with room to grow. An incredible value describes this 4br single family home.(used as 3br) with upgrades including new roof, new title 5, and freshly painted exterior. MLS says it is priced to sell and all reasonable offers will be considered.

 

 

 

2 Baybery Lane .$409Kjpg2 Bayberry Lane  is offered at $409K. It has 2 bedrooms, 2 baths and 1,329 square feet . MLS copy says it is on a quiet private road; has a convenient location; route 6 and several beaches are within close proximity; comfortable, cozy space includes all the basics; some features of this custom crafted all wood exterior/interior single family home include high beam ceilings, 2 oversized bedrooms with a sprawling deck, 2 full baths, generous closet space, maple hardwood and tile floors. A bonus 18x25sf Sun room, a private yard, shed, and ample off-street parking round out this offering.

 

 

5 Elizabeht Way $425K5 Elizabeth Way is being offered at $425K. It has 3 bedrooms, 1 bath and 988  Square feet. MLS copy says it is a 3 bedroom year round home, with 1 bath, a three season porch and a fireplace. This home has expansion possibilities, and sits on a small knoll at the end of an unpaved way. It is a convienient drive (1.3 miles) to the beach on Corn Hill.

 

 

Just goes to show you that there are wonderful, charming and affordable single family options in the woods of Truro. Enjoy!

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The Least Expensive in Provincetown

The least expensive condo and single family listings available in Provincetown.

February 11, 2014

It is hard to believe but you can buy a single family home for $479K in town.  28 Nelson Ave  is a 3 bedroom, 1 bath home with 1,320 square feet.

 

28 Nelson Ave

26 Nelson 2

26 Nelosn 4

26 Nelosn 3

 

 

 

 

 

MLS copy: Don’t miss your opportunity to own a spacious 3 bedroom single family home in a quiet neighborhood of Provincetown. There is a full walkout basement that could be finished for additional living space or can be used as storage. The living room features a wood burning fireplace and has an abundance of natural light. Recent upgrades include a Baxi propane heating system, new Title V septic, privacy fence and terraced gardens. The home is in good condition and has great potential.

There are a total of 48 single family properties on the market in Provincetown with that number sure to increase over the next few months as the spring market warms up. The average listing price is $1.508M. The average size is 2,570 square feet.

 

The least expensive condo is 963 Commercial #51 , a 1 bedroom, 1 bath unit with 258 square feet which is offered at $125K.

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MLS copy: Walk to the pool or the beach from this wonderful escape. This property is a one bedroom, one bath unit at the Beach Point Club, a waterfront complex minutes from the center of town and on the flex bus route. A perfect beach getaway with a low monthly fee, this property includes use of the association in-ground pool, direct access to the beach and assigned parking. Enjoy your exclusive front patio for morning coffee and exclusive back deck with bay views for afternoon relaxation. Currently used seasonally, unit may be converted to year-round use with approvals. Weekly rentals allowed and pets for owners.

 The entry level price point for condos in Provincetown is a big segment of the market.  There are 37 condos available priced below $350K. The average condo in  this segment is listed at $248K and has 563 square feet.We are always surprised at what buyers can get for relatively little money.   Many are waterfront or beachfront, and some are  located in condo associations with swimming pools and other amenities.

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Truro Luxury

 The 3 most expensive single family homes for sale in Truro.

February 11, 2014

There are so many gorgeous single family homes in Truro on both the bayside and ocean side. You have seen many of these homes in Cape Cod Magazine, Architectural Digest and on all the real estate web sites. Below are the three most expensive luxury homes on the market.

19 Avocet Road is being offered at $2.495M. It is a 3 bedroom, 3 bath home with 3,585 square feet.

19 Avocet Rd2

19 Avocet 3

19 Avocet Rd

19 Avocet 4

 

 

 

 

 

MLS copy: Clearly the best waterfront property on the Outer Cape! This stunning Bay front Contemporary is situated in one of Truro’s most sought after waterfront locations with 1.56 acres of treasured privacy. This estate sized setting affords the discerning buyer all the appeal of Cape Cod living: dramatic far reaching water views from almost every room, private steps to your sandy beach and close proximity to Truro Center and Provincetown’s renowned art galleries, restaurants and night life. All of this with an expansive interior with soaring cathedral ceilings, new chef style kitchen, expansive living and dinning, master BR with 180 degree views of Cape Cod Bay and private master bath. There are sliders to a generous seaside deck, beautiful professional landscaping, hurricane shutters and the added bonus of a separate detached artist’s studio.

 

2 Heron Lane is offered at $2.750M. It is a 4 bedroom, 3 bathroom home with 2,500 sf.

2 Heron Lane .$2.750Mjpg

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2 Heron 2

 

 

 

 

 

MLS copy…verbatim!  The open living dining area with deck to stairs to your private beach is the perfect room to entertain and enjoy extended family living. There is a view from almost every room of this one level contemporary design with dramatic sunsets in every season. The window walls in the Living room with soaring ceilings and fireplace make this custom construction comfortable in every season. Historic Highland Links, Highland Light, and the Winery are a short distance in the North Truro neighborhood. This property is in move in condition to enjoy with privacy yet convenient to Provincetown and the airport. The private tennis court is around the corner and the automatic rolling shutters protect the house in all weather

 

15 Avocet is being offered at $2.950M. It has 4 bedrooms, and 3 baths and has 3,255 square feet. This house is one of the most  stunning waterfront homes ever available on the Cape.  See if you don’t agree with me.

15 Avocet $2.950

15 Avocet 3

15 Avocet 4

15 Avocet 2

 

 

 

 

 

MLS copy: Spectacular panoramic waterfront views and sunsets are framed from almost every room of this dramatic Shearwater contemporary design. The master suite was planned to capture the sweep of the beach to the Provincetown Monument. Each living space connects to the deck areas, look out deck, including the media room and stairway to the beach. The lower level has a private entrance with an outside shower, living area, new bath, and bedroom with bay views. The spacious lower level with gallery hallway and two car garage provide storage and enter to the family room, with additional views of Cape Cod Bay. A seaside sensation with updates found in custom construction, including geothermal heat and AC, with 4 zones. Featured in Cape Cod Magazine August issue. Enjoy this property in all seasons!

It is so cool to see the incredible properties available in Truro, as we sometimes tend to focus in Provincetown more because more folks are familiar with it. But Truro is such a treasure!

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High End, High Tide – The Two Most Expensive Listings In Provincetown

Not surprisingly the most expensive condo and single family property available in Provincetown are on the water.

February 7, 2014

There are 5 condos on the market in Provincetown with list prices over $1M.

The most expensive is a gorgeous waterfront condo  at 67 Commercial Street #4 offered at $1.899M.  This is a 2 bedroom, 2 bath condo with 969 sf which is quite literally on the water, as you can see from the pictures below.  It is located in one of the most desirable neighborhoods too! That enviable stretch of Commercial Street from Franklin Street west to the Red Inn.

 

67 C

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Following is a description direct form Cape and Islands MLS. Quintessential, waterfront, West End free standing 2 bedroom, 2 bath Cape home with spectacular views of the harbor & Long Point. This luxury home has been completely rebuilt with contemporary finishes yet true to its Cape roots. The main living area has wide plank Scandinavian bleached white oak floors, bead board wainscoting & ceiling & a glass door that opens to a private waterfront deck. Kitchen features custom modernist shaker cabinets with a resin pebble backsplash, a Sub Zero refrigerator & Miele appliances. On the second floor you will find the master bedroom with cathedral ceiling, private deck & a spacious en suite bath. The guest bedroom also has a cathedral ceiling and oculus window. Both the baths have river stone tiled showers with Waterworks nickel fixtures & custom glass enclosures. There is off site deeded parking for 2

There are 30 single family homes available with listing prices over $1M – fully 63 % of the 48 single family homes that are available. 

The most expensive single family offering is at 10 Harbour Drive. It is a 5 bedroom, 6 bath home with 4,233 square feet and is being offered at $3.995M. As you can see from the pictures beow and the MLS copy attached it is an exceptional property.

 

10 Harbour 3

10 Harbour 2

10 Harbour

10 Harbour 4
Following is a description direct from Cape and Islands MLS. Experience beachfront living with unparalleled privacy at Provincetown’s newest waterfront community. This newly built spectacular home at Bay Harbour is the largest waterfront home for sale in Provincetown, with over 4000 SF, 5 BR’s and 6 BA’s. Custom chef’s kitchen with WOLF and Subzero appliances. The view pours into the vast living room through the floor to ceiling wrap-around windows. A sumptuous master suite also faces the water and has a private deck,gas FP, WIC,and large bathroom with jacuzzi, steam shower. All bedrooms & the den have ensuite baths. Security, AC, lush grounds, basement, and 2 car garage.
Both are lovely properties and represent the luxury market in Provincetown beautifully.

 

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Most Expensive Sales Of 2013

The Provincetown  luxury market performed strongly in 2013 with 22 properties selling for over $1M, 27% more than the 16 sold in 2012. 19 single family homes and 3 condos sold with an average selling price of $1.48M. The average property had 3 bedroom,  3.5 bath and 2,626 sf of living space. This increase is because of rising prices, as well as the quality of $1M plus inventory of properties for sale. As reported earlier 3 incredible homes sold in 2013 on Telegraph Hill, a first since the neighborhood was built.

Below are the top 4 residential property sales of 2013. Real Estate at its best.

 

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571 Commercial Street sold for $2.265M. It is a gorgeous 5 bedroom, 4 bath 2,757 sf house on a 5,489 waterfront lot originally built in 1900. This house has always been a favorite of mine in the East End.

MLS copy: Endless harbor and bay views greet you upon entering this wonderful 5 bedroom beachfront historic home! Filled with charm, privacy inside and out, a spacious terraced yard, 62′ waterfront deck, and private steps to the beach, this rare offering is ready to enjoy. Extremely well maintained and loved by its previous owners, this is the perfect second home or year round residence for all who seek the unspoiled Provincetown experience at its best!

 

3 CRH 2

3 CRH

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3 Creek Round Hill Road sold for $2.3M. It is a 4,500 square foot 3 bedroom with a guest/in law apartment on the lower level.  It sold for $2.3M in the fall. In years past this h0use was know to its neighbors as the “wedding house”as it was regularly rented out for weddings and other special events. Hopefully the new owners will relegate it to good old residential use only.

MLS copy: Enjoy commanding water views and sunsets from this glamorous West End home. This custom built two family home features over 4,500 square feet of luxury living with uncompromising attention to detail. The first level boasts a chef’s kitchen, open concept living/dining room with sliders leading to spacious decks, guest bedroom, and spectacular views of the Breakwater, Longpoint, Moors, and dunes of Herring Cove. The second level features a grand master suite, luxurious master bath, and sensational views. The second level also features two guest bedrooms and bath. The garden level walkout offers a nicely appointed 1BR apartment with private entrance and bath. There is also a one car garage and laundry room on this level. The home has a substantial rental history of $130K annually making it the perfect home for the savvy investor.

 

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59 Commercial St sold for $2.4M. This  is an incredible piece of property with a 1,468 square foot main house fronted on Commercial Street, and a 984 square foot darling cottage on the waterfront. n July 22. 2/3 1468 plus 984 sf cottage.

MLS copy: West End Waterfront Compound with two beautifully restored year-round homes. The main house was floated over from Long Point and has all the wonderful detail you would find in a period residence but with all the amenities for today’s lifestyle such as central air and a high-end fully equipped kitchen. Between the main house & the waterfront cottage is a large courtyard with a Belgian block parking area for three cars. The 984+- square foot cottage has its own systems that are mostly separate from the main house and would be an excellent income producer. The views are exquisite from this space with the Long Point lighthouse right in front. The cottage has two decks, a bluestone patio and a staircase directly onto the beach. The entire property is connected to the sewer system and the grounds are irrigated. Please call for an appointment.

 

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8 TH 4

 

 

 

 

 

 

8 Telegraph Hill sold for $2.89M This is a 3 bedroom 4 bath house of 3,510 square feet.

MLS copy:  This is the best view on Telegraph Hill. Custom built (heavy duty construction)in 2002 this home home offers panoramic views of Provincetown Harbor,the shores of Truro & Wellfleet, west end rooftops of Provincetown & a stunning view of the Monument. Meticulously maintained, well appointed w/hardwood floors, custom Hunter Douglas blinds, marble & limestone baths, commercial grade Viking appliances, double fireplace, high ceilings w/custom lighting, central ac, mature gardens, irrigation system & a 2 car garage. The upside down design gives you living and dining space on the top floor w/an open floor plan, along with a wrap around deck for outside entertaining. The entry level has 3 large bedrooms including two master suites, all with en-suite baths. Lower level offers a finished room, laundry room & 2 car garage. Granite block driveway.

Each of these homes is so special, and each of them represents their neighborhood beautifully. The far East End is represented by 571 Commercial Street, the far West End by The “Wedding House” on Creek Round Hill Road and the near West End by 8 Telegraph Hill and 59 Commercial Street. All gorgeous properties!