Tag: Provincetown luxury homes

The Mid Market In Provincetown

Post author By Jon Goode
Post date May 14, 2014

The Mid Market In Provincetown

The mid market is generally those properties priced from $400K to $750K. There are 9 single family properties and 43 condominiums available for sale in this segment of the market representing 32% of total properties available. The average price is $552K, with an average square footage of 1,084. This is by far the most popular market segment. Two bedrooms with two baths in the East or West End between $400K and $800K – The most popular request! NIne of my favorite are shown below. (click on address to see full listing details)

60 Race Point Rd #11, $430K, 2/2, 1,015 sf.

28 Nelson, $459K, SF, 3/1, 1,320 sf. — 28 Nelson, $459K, SF, 3/1, 1,320 sf

596 Commercial # 1, $580K, 2/2, 1,085 sf.

46 Pleasant St #A, $595K, 2/2, 1,080 sf.

38 Brasford St #2, $719K, 3/2, 1,636 sf. — 38 Bradford St #2, $719K, 3/2, 1,636 sf.

51 Harry Kemp Way #1, $625K, 3/2, 1,331 sf.

Single family homes, West End cottages, and East End waterside condos – the mid market in Provincetown is loaded with choices.

Tags Cape Cod, Cape Cod condo sales, Cape Cod real estate, Provincetown, Provincetown luxury homes, Provincetown real estate

general info

The Affordable Entry Level In Provincetown

Post author By Jon Goode
Post date May 12, 2014

Spring is finally here. Time for a spring market review.

There are some great properties on the market in Provincetown with more to come as the spring/summer market heats up. I’ll begin with a review of the affordable entry level market .

Affordable Entry Level

The affordable entry level market generally includes those properties priced from $100K to $400K and is loaded with surprising options and is a great way to enter the real estate market in town – either for your own vacation or year round use or as an investment/rental property. Buyers are always surprised at what they can get in this segment of the market. Comfort, location, space and value!. There are 59 properties on the market in this segment, all are condos except for 1 single family listing. These represent 36% of available properties. The average asking price is $306K and the average size of available properties in this segment is 607 square feet. 9 of my favorite are pictured below. Just click on the address and you’ll see the full listing information on Beachfront-Realty.com.

353 Commercial St # 18, $$289K, 1/1/, 208 sf.

495 Commercial St #19, $379K, 1/1, 549 sf.

4 Bradford Acres # G, $399K, 1/2, 813 sf.

10 Seashore Park #V, $399K, 2/3, 1,310 sf.

104 Bradford St # 11, $399K, 1/1, 531 sf.

Waterfront condos, charming mid town pied a ter’s, or spacious townhouses. The affordable entry level market in Provincetown is full of property choices at very reasonable prices.

Tags Cape Cod, Cape Cod condo sales, Cape Cod real estate, Provincetown, Provincetown condominiums, Provincetown condos, Provincetown luxury homes, Provincetown real estate

general info

Sale Of The Week

Post author By Jon Goode
Post date May 8, 2014

It is hard to believe that you can still buy a single family home for under $600K in Provincetown, let alone a relatively new 4 bedroom 4 bath property with a great yard and super location. 70 Race Point Road is a 4 bedroom 4 bath 2,736 square foot single family home …and it sold for $585K, $213 per square foot! The quality and size of this house is exceptional and it even has a large guest suite with a separate entrance on the lower level. The new owners could not be happier.

MLS Copy: You’ll love living so close to Beech Forest, the bike trails, the National Seashore and Race Point Beach and yet a quick bike ride or walk to Town Center. This very generously sized home features wood flooring, high ceilings, living room with gas fireplace, spacious deck, kitchen with breakfast bar open to the dining room overlooking the front porch and mature plantings in the front garden. There are four bedrooms, 3 1/2 baths, a master suite, laundry room. The Master bedroom suite boasts a private bath with a soaking tub and a walk-in closet. Part of the lower level is a beautifully finished , comfortable, private-entrance guest suite, leaving plenty of room for storage. Built by the present owner in 2003, it’s evident that great attention to detail was paid to make this home exceptional in style, size and finish quality.

You can get an idea from these few photos how large the rooms are. The surrounding yard and decking is a huge bonus.

Tags Cape Cod, Cape Cod condo sales, Cape Cod real estate, Cape cod real estate sales, Provincetown, Provincetown condos, Provincetown luxury homes

general info

Bad Combo

Post author By Jon Goode
Post date May 5, 2014

March review from Scott.

Bad combo: Rising prices, falling sales

Posted by Scott Van Voorhis

Home sales fell again in March, a bad omen for the spring market.

But right now it’s buyers who are taking it on the chin and sellers who are laughing all the way to the bank.

Home sales fell 11.5 percent this March compared to the same time last year, theMassachusetts Association of Realtors reports. The Warren Group, publisher of Banker & Tradesman, pegs the decline at a somewhat smaller 7.8 percent.

Yet both market trackers report a big jump in prices, a trend that has been going on for at least 18 months.

The median home price in Massachusetts rose 8.6 percent in March, to $315,000, according to the Warren Group, while MAR is reporting just about the same price, and an 8.3 percent jump.

So what gives?

The same old, same old we have been hearing about for the past year, too few homes for sale.

“The low inventory of single-family homes in the market is the primary cause of the decreasing sales activity,” said Timothy M. Warren Jr., chief executive The Warren Group, in a press release. “Motivated buyers, however, are eagerly bidding for the limited supply which accounts for the increasing sales prices. People want to buy homes before prices and interest rates rise further.”

Tags Boston, Boston condo sales volume, Boston real estate, Cape Cod, Cape Cod condo sales, Provincetown, Provincetown luxury homes, South End real estate

general info

10 Most “Out Of Touch” Housing Markets

Post author By Jon Goode
Post date April 30, 2014

On the face of it this headline is dramatic, but all it refers to is the conforming loan limits throughout the U.S and their relationship to local market conditions. A very interesting perspective from Housing Wire and Trulia.

Trulia: 10 most out-of-touch housing markets

The vast divide in conforming loan limits and reality

Brena Swanson

April 28

As the whispers of housing reform start to grow into greater fruition, the topic of conforming loan limits is brought up as well.

In his latest blog, Jed Kolko, chief economist with Trulia, noted that the current system of conforming loan limits falls far short of reflecting the actual differences in local home prices and ends up favoring borrowers in lower-cost markets.

“The housing finance system – as well as other national housing policies – needs to serve a country where local home prices in some markets are 10 times as high as in others, and where local and state laws affect how much new construction is allowed, how long foreclosures take, and more,” Kolko said.

In the current system, the conforming system sits at $417,000. However, in 2008, the Housing and Economic Recovery Act granted “high cost area” higher conforming loans limits to reflect local price differences.

But as housing regulators markup the Johnson-Crapo housing finance reform bill on Tuesday, April 29, 2014, Kolko pointed just how the conforming loan limits fall short.

Using Trulia’s database of homes for sale, Kolko listed the top 10 housing markets with the highest share of for-sale homes above the local loan limit, showing just how out of touch conforming loan limits are.

10. Boston, Mass.

Currently, $470,350 is the conforming loan limit, while 30% of homes for sale are above the local loan limit.

9. Oakland, Calif.

Right now 30% of homes for sale are above the local loan limit, with the conforming loan limit sitting at $625,500.

8. New York, N.Y.

The conforming loan limit sits at $625,500 for New York, with 30% of homes for sale above the local loan limit.

7. Middlesex County, Mass.

The city’s conforming loan limit weighs in at $470,350, with 33% of homes for sale above the local loan limit.

6. San Diego, Calif.

So far, the city’s conforming loan limit is $546,250, with 33% of the homes for sale above the local loan limit.

5. Ventura County, Calif.

The conforming loan limited is $598,000, with 34% of the homes for sale above the local loan limit.

4. Orange County, Calif.

Orange County has a conforming loan limit of $625,500, with 38% of the homes for sale above the local loan limit.

3. Fairfield County, Calif.

In Fairfield County, the conforming loan limit is $601,450, and 39% of homes for sale are above the local loan limit.

2. San Jose, Calif.

This city posted a $625,500 conforming loan limit, with 43% of the homes for sale above the local loan limit.

1. San Francisco, Calif.

San Francisco posted that its conforming loan limit sits at $625,500. With a whopping 61% of the homes for sale above the local loan limit, it is the nation’s most out-of-touch housing market.

Brena Swanson joined the HousingWire news team in February 2013. Prior to serving HW in the role as Reporter and Content Specialist, Brena attended Evangel University in Springfield, MO.

Tags Boston, Boston condo market, Boston condo sales, Boston real estate, Boston sales outlook, Boston South End condo sales, Cape Cod condo sales, Cape Cod luxury sales, Cape Cod real estate, Provincetown luxury homes

general info

Pond Side Contemporary

Post author By Jon Goode
Post date April 21, 2014

46 Shank Painter Road is a gorgeous 12 year old contemporary cape with luxurious living on three levels – and it is a complete surprise! Entering into the house from the beautifully landscaped front entrance you are immediately struck by the view of Shank Painter Pond Wildlife Sanctuary. Most people don’t realize that this incredible pond view exists behind the house. This house literally sits on Shank Painter Pond and looks out on the most beautiful conservation land in town.

As you see the front of the house is a traditional full Cape with an extension that has it’s own entrance, and the back of the house is 3 full floors of glass sliders that take full advantage of the view – and this stunning house is only 2 blocks to Commercial Street!

The pictures below show the living room and dining room – the west and south walls are rough hewn stone, the floors are hardwood, and the view as you can see is delightful. There is a wood burning fireplace, a large full bath, and a den with doors out to a sheltered and private sunning or dining deck.

The dream chef’s kitchen has double Themador wall ovens, double stainless sinks, a subzero fridge, a 6 burner gas stove top, double trash compactors and beautiful marble and tiled full wall backsplash.

The spacious master suite on the lower level has sliders out to the yard and pond beyond. The large master bath has double sinks, a large glass enclosed shower, and the double size soaking tub with a view that you see below. In addition on this level there are double walk in closets, a full size sauna, and a large laundry room with side by side W/D and extra storage. In the backyard, steps from the master bedroom is a large hot tub, and an outside shower.

The second full floor suite is on the top floor of the house, and as you can see below has stunning views of the conservation land stretching out before you. This floor is a light and bright aerie and has been used by the owners as an artists studio. There is a combination master bath, and a charming meditation room on this floor, as well as a private deck.

46 Shank Painter Road is being offered at $998,000.

Tags Cape Cod, Cape Cod real estate, Cape Cod sales, Provincetown, Provincetown luxury homes, Provincetown real estate

general info

Favorite Listing Of The Week

Post author By Jon Goode
Post date April 10, 2014

If there ever was a quintessential West End Cottage this is surely it. 12 Atwood Avenue #B, offered at $525,000 is a 696 square feet one bedroom cottage in the West End.

This charming wood frame cottage is set back from a private unpaved lane behind a honeysuckle covered white picket fence. This 696 square foot 1 bedroom 2 story cottage is the ultimate Provincetown retreat. The living room is at the front of the Cottage and has a large wood burning fireplace. There is a dining room/den next to the kitchen in the rear of the first floor. The entire second floor is a large bedroom and bath with large windows and wonderful sight lines to lovely Atwood Avenue.

The Cottage at 12 Atwood Avenue has just been organized into an independent 2 unit condo complex. The Cottage has a large exclusive use garden area, parking and 696 square feet.

The Cottage is a rare offering providing charm and privacy. It is a block from the bay, a block from Victors Restaurant, and in an association crafted for independent living. Offered at $525,000.

Tags Cape Cod condo sales, Cape Cod Luxury condo sales, Cape Cod Luxury homes, Cape Cod real estate, Cape Cod sales, Provincetown, Provincetown luxury homes, Provincetown real estate

general info

3 Reasons The Market Will Thrive In 2014

Post author By Jon Goode
Post date April 8, 2014

Another great and succinct post by the KCM gang!

3 Reasons the Housing Market Should Thrive in 2014

by The KCM Crew

three

Recently, HousingWire asked David Berson, chief economist at Nationwide, for his opinion on the near-term future of housing. Below are what Mr. Berson believes to be the three things you need to know about housing in 2014. We have included a quote from the article and a small comment from KCM for all three points.

Number 1: 2014 should prove to be the strongest year for housing activity since before the Great Recession

“Most economists expect an improved job market in 2014, with employment growth accelerating and the unemployment rate continuing to decline. That jobless rate drop will reflect more of a pickup in employment than further declines in the labor force participation rate. This will be the key factor improving housing demand this year, even if mortgage rates rise and affordability declines. While the housing market tends to do especially well when the job market improves and mortgage rates decline simultaneously, that combination of events occurs only rarely…People buy homes when their job and income prospects improve – even if it’s more expensive to do so – rather than buy when it is inexpensive to do so but they’re worried about keeping their jobs.”

KCM Comment:

We agree that the job market will continue to improve and that rising interest rates will not be a detriment to the market in 2014. As Doug Duncan, SVP and chief economist atFannie Mae, recently revealed:

“Consumers have taken the interest rate rise in stride. Expectations for continued improvement in housing persist, and sentiment toward the current buying and selling environment is back on track.”

Number 2: Demographics should start to favor housing activity

“If the economy expands at a faster pace this year, bringing a more rapid rate of job creation, that should translate into more households, raising housing demand. We won’t see all three million missing households return to the housing market at once. (That wouldn’t be a good thing for the housing market anyway, since that would be on top of the 1.2 million households that normally would develop this year; such a surge would swamp the existing housing supply). Beginning in 2014, the pace of household formations should accelerate to an above-trend pace for several years, pushing up housing demand.”

KCM Comment:

The Urban Land Institute recently released a report, Emerging Trends in Real Estate 2014, projecting that 4.48 million new households will be formed over the next three years. Millennials will make up a large portion of these new households. With the economy improving, we believe they will finally be moving out of their parents’ homes and, after they compare renting versus buying, many will choose homeownership.

Number 3: Mortgage availability shouldn’t worsen and may improve

“The rise in mortgage rates already has reduced mortgage origination volumes as refinance activity declines. If mortgage rates rise further this year, as expected, then refinance activity will fall still more. In response, mortgage lenders probably will ease lending standards to the extent possible under the QM rules to boost lending activity by increasing purchase originations. As a result, the increase in new households expected to be created this year, spurred by a stronger job market, should find that qualifying for a mortgage loan will be somewhat easier in 2014 than in prior years.”

KCM Comment:

We also believe that, as the refinancing market begins to dry up, mortgage entities will be more aggressive in the purchase money market (mortgages necessary to purchase a home). There even seems to be recent evidence that lending standards are actually loosening.

Tags Boston, Boston condo market, Boston condo sales volume, Boston real estate, Cape Cod, Cape Cod real estate, Provincetown, Provincetown luxury homes

general info

Affordable Water Views

Post author By Jon Goode
Post date April 4, 2014

Below is a great new townhouse listing of ours at 4 Willow Dr #9. This is a 2 bed, 2 bath condo with 1,065 square feet for $579K. Check out the water views!

MLS COPY: Spectacular water views from hilltop East End Townhouse. Enter great room kitchen dining living open to 1st deck. Half bath with laundry complete this level. Up one floor to observatory room, currently used as a home office and den, with large walk out roof deck and panoramic views. Lower level has two good size bedrooms and a full bath and a 3rd deck. Wall unit AC on each level. LP gas Rinnai FHA heat main level. 1 parking space plus ample guest parking. Pets okay for owners. One month minimum for rentals.

Tags Cape Cod condo sales, Cape Cod real estate, Provincetown, Provincetown condos, Provincetown luxury homes, Provincetown real estate

general info

Sold In March In Provincetown

Post author By Jon Goode
Post date April 2, 2014

March was a challenge weather wise, but regardless of blizzards and cold weather the market was active. I have highlighted a few of my favorite properties that sold in March. As you will see in The Goode and Farmer Report for the first quarter which will be out soon, sales of condos were very strong and average prices were up too. Even with the weather problems…commerce continued – a sure sign that buyer demand remains strong.

22 Pearl St #3 was one of our favorite condos to show. It was a fun combination of funky Provincetown charm, great space, and a superb location. It is a 2 bedroom 1 bath condo with 877 square feet and sold for n$426K.

MLS COPY: Great location in this sunny top floor 2 bedroom just steps to Commercial Street, located on a quaint street near the center of town. Enjoy the exclusive large exclusive deck and roomy living room with an open floor plan into kitchen area. Lots of old mixed with a contemporary flair. The large master bedroom features antique wide pine plank floors, half barrel ceiling and an interesting alcove within the bedroom. Upgrades include plumbing and electrical systems and the attic area in this condo has been recently insulated. One parking space, Weekly rentals permitted and pets for owners allowed.

38 Franklin St #2 was another great condo with a big private deck atop Franklin Street. It is a 1 bedroom 1 bath condo with 600 square feet and sold for $399K.

MLS COPY: This bright and airy, top floor, 1BD, 1BA condo is part of a small association, conveniently located in the West End and minutes to Commercial St. The recently upgraded kitchen is part of the open concept kitchen, living, and dining area. Sliders lead from the living area to the large and exclusive westerly facing deck – perfect for viewing sunsets! A large bedroom and bath with walk-in shower and additional storage complete this well maintained, move-in ready home. Hardwood and tile floors throughout. Shared laundry facilities and storage are provided in the common basement. Oil heat, hot water, water and ongoing sewer costs included in the low monthly association fee. Parking.

1 Railroad Ave was another favorite as it was the most inexpensive single family house on the market for a long time. It has 1 bedroom and 2 baths and 900 square feet. It sold for $445K .

MLS COPY: Charming centrally located single family home. Own a nicely renovated two level, one-bedroom, two-bath home conveniently located in the center of town for the price of a condominium! The top floor bright living area has expansive northern light windows, hardwood floors, a modern kitchen with an island, full bath with laundry, a loft den and deck. The entry level has a spacious foyer, an office area and a bedroom with bath en suite and sliders that open to the rear gardens and patio area. Oil heat, parking private yard!

4 West Vine Street, one of the great houses in the West End sold for $1.225M. It is a two family home with 2,014 squatter feet.

MLS COPY: Rarely available West End home! This antique two-family is supremely located in the heart of the historic West End village, just steps to the beach. The 1st floor is beautifully renovated with gleaming pine floors, 2 amply sized bedrooms each with en-suite tiled bathrooms, granite counters, a large dining area, gas fireplace, and office nook. The unit is accessed from the front yard, with its lush lawn, surrounded by a white picket fence. Upstairs, the other apartment has a large living room with a view to the water past Captain Jack’s wharf, a formal dining room, kitchen, bedroom and bath. On site parking & lovely grounds round out this offering. Enjoy turnkey rental income from both units, convert the property to condos,or combine both units into a single family.

Tags Cape Cod, Cape Cod luxury sales, Cape Cod real estate, Provincetown, Provincetown condos, Provincetown luxury homes, Provincetown real estate