Tag: Provincetown

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Sale Of The Week

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.

 

70 RPR 1

 

 

 

 

 

 

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.

 

70 RPR 4

70 RPR 3

70 RPR 2

RPR 5

 

 

 

 

 

 

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

 

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Listing Of The Week

51 Harry Kemp Way #1. This is a 3 bedroom and 2 bath townhouse condominium in the Harry Kemp/Outer Cape Health neighborhood. It has a terrific homey feel and good flow, with a wide open bright and airy first floor plan which is great for entertaining. And look at the farmers porch and the huge front yard. Two bedrooms are on the second floor and a third bedroom, den is on the entire third floor. This property is being marketed for $625K.

 

51 HKW 1

 

 

 

 

 

 

 

 

MLS Copy: Gardener’s delight. Three spacious floors of living lend this townhouse condominium the feel of a single family home. From the ample farmer’s porch you enter an open-plan living room, kitchen and dining area with hardwood floors throughout and a gas log fireplace. A full bath, newly upgraded, completes this floor. The second floor has two bedrooms and a second full, newly tiled bath. The third floor bedroom can also serve as den or home office. Beautifully maintained, the home also has superlative outdoor space: three decks,and a huge beautifully landscaped yard. Amenities include a basement, a garage, a laundry and central air conditioning, and parking for 3 cars. All 5-10 minutes’ walk from shopping, restaurants, galleries and the harbor. Weekly rentals and pets allowed.

 

51 HKW 3

51 HKW 2

51 HKW 4

51 HKW 5

 

 

 

 

 

 

51 Harry Kemp Way #1, a great townhouse value.

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Bad Combo

 

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.”

 

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Pond Side Contemporary

 

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.

 

front of house 1

 

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.

 

front of house 2

glass doors

living room

kitchen

 

 

 

 

 

 

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.

 

master br 1

master bath 1

sauna

deck view 2

 

 

 

 

 

 

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.

 

upper suite

deck with chairs

back of house 2

46 rear view Shank Painter Pond

 

 

 

 

 

 

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.

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Listing Of The Week

49 Bradford Street #11, 2 bedrooms, 1 bath, central A/C and parking. Offered at $485,000

 

49Bradford

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Centrally located in the near West End this free standing two bedroom , one bath condo is just steps from the Boatslip, Joes Coffee and the bay beaches.  The main level has an open floor plan with a living room, dining area and kitchen. There is also a full bath on this floor. The charming screened in porch adds another space for dining and entertaining. There are two bedrooms upstairs, one with a good size private deck. There is one parking space, exclusive use extra storage space, and a common laundry. There is exclusive use garden space in the front and on the side of the condo.

 

front door

kitchen 2

kitchen to living

bedroom 1

 

 

 

 

 

 

49 Bradford Street #11 has  678 square feet, condo fees of $316 per month which includes heat, and annual taxes of $3,038 for fiscal year 2014. Weekly rentals are allowed. Central A/C, Common laundry, Patio area for grilling, Assigned parking.

 

 

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Goode and Farmer Report – Provincetown, Truro and Wellfleet Q1 2014

While it is tough to identify trends in the first quarter – especially a quarter rocked nationally and locally by severe winter weather, local sales and prices are bucking the national trends that show moderating sales numbers. First quarter results here on the outer cape were surprisingly strong given the relentless winter weather.

The average price of condos sold in Provincetown was up 25%. Single-family prices were up 6%. And in Wellfleet, 48% more single-family properties sold than last year. Total sales in Provincetown were up 22% from 31 sales in the first quarter of 2013 to 38 sales in 2014. Total volume closed was up 33% from $18.5M to $24.7M this year.

There were 24 condominium sales in the first quarter vs. 16 last year, an increase of 50%. And total condo sales volume increased 87% to $11M. The average sale price for condominiums in Provincetown was up 25% to $460K from $368K in 2013. Average days on market for condos decreased by an average of 37. The average price per square foot for condos sold was $500, up from $410 psf in the 1st quarter of 2013.

The average sale price for a single-family home was up 6% to an average sale price of $1.086M from $1.02M in 2013. Single-family home sales in Provincetown decreased by 33% to 6 from 9. Many of us feel that this is a result of lower inventory and not a true indication of market strength.

Provincetown continues to lead the way on the outer Cape with higher prices and higher sales volume. It continues to attract international buyers and buyers from around the country who have visited over the years who now want to have a home here on the Outer Cape.

This market dynamic continues to build the case for a strong spring market. It remains an historically opportune time for those sellers who have been waiting on the sidelines to put their property on the market. This strong demand for Provincetown real estate by more confident buyers has proven itself in higher sales numbers. The snow is gone and temperatures are finally above 40. Let the spring market begin.

 

Provincetown Chart

 

 

 

 

 

 

 

 

 

 

 

Other towns on the Outer Cape did relatively well too. The average sales price for single-family properties in Truro was up 19% to $733K from $617K in 2013. The number of sales was down to 8 sales from 14 last year. The Truro market consists mostly of single-family homes.

In Wellfleet, the average sales price of single-family properties sold increased 2% to $521K from $510K last year. The number of sales increased by 44% to 13 from 9 in 2013. Wellfleet is predominantly a single-family sales market as well.

 

Trueo Wellfleet chart

 

 

 

 

 

 

 

 

 

 

 

While these numbers are relatively strong it is always difficult to identify trends in the first quarter The one constant in each town and each category is increasing prices, even with the weather and a shortage of inventory. This illustrates a very resilient market and strong buyer demand.

Buyers do need more choices though as inventory remains low. Positive buyer and seller attitudes coupled with a continuation of relatively low mortgage rates and an improving economy bode well for 2014 being a great year to jump into the market.

Please call or stop in if you are considering selling or buying, or if you are just curious as to what your home is worth. Our business philosophy has always been that the best-informed buyers and sellers are most satisfied with their real estate results. And that’s what we do best!

 

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Favorite Listing Of The Week

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.

 

12 Atwood Ave #2

 

 

 

 

 

 

 

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.

 

living room 2

living room 3

kitchen 1

dining

 

 

 

 

 

 

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.

 

bedroom 2

garden 1

kitchen 2

garden umbrella

 

 

 

 

 

 

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.

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3 Reasons The Market Will Thrive In 2014

 

Another great and succinct post by the KCM gang!

3 Reasons the Housing Market Should Thrive in 2014

by 

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.

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Affordable Water Views

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!

 

4 Willow 1

4 Willow 2

4 Willow 4

4 Willow 3

 

 

 

 

 

 

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.

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Sold In March In Provincetown

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.

 

22 Pearl 2

22 Pearl 1

22 Pearl 4

22 Pearl 3

 

 

 

 

 

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.

 

38 Franklin 1

38 Franklin 3

38 Franklin 4

38 Franklin 2

 

 

 

 

 

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 .

 

1 RR 41 Railroad Ave. 2/3, $469K1 Railroad 21 RR 3

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.

 

4 West Vine 1

4 West Vine 2

4 West Vine 4

4 West Vine 3

 

 

 

 

 

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.