Ah, the market. Until this week, things seemed to be moving along quite nicely. New houses came on, and if they were well-located, well-priced, and showed well, they were under agreement within days. Other homes that had been on the market for over a year had substantial price reductions, and also went under agreement within days of the price adjustment.

Part of the reason for this has to be interest rates that start at 4% for a 30-year fixed loan, and go down from there for fewer years. So, unbelievably low interest rates, some really attractive prices, and a few sellers who do accept offers substantially below asking price - for sure, this is a buying climate unlike anything I've experienced in over 30 years in the business.

How do the gyrations of this past week in the global economy affect the local real estate market? It's too soon to tell, but I'll keep you informed.

What is the one and only surefire strategy to selling a home in this market? Price it right. I know you know, but apparently some sellers still haven't heard that the old days are gone. Homes really (really!) need to be priced to sell in order to sell. Aside from the fact that buyers are not stupid - and they do look at what's on the market and buy the ONE that offers value, and not the others - appraisers use only what has sold that is comparable in the last six months.

It is a huge waste of time and a terrible emotional upheaval to think one's home is sold, maybe make another commitment based on that, and then find out 4 weeks later that it did not appraise. Price it right, get it sold!

   

Here are my latest picks for homes that offer value:   

Near Jenkins Pond

 

   

If you think that you can't find a house in the $200,000s in Falmouth that you would want to own, think again! How about #21105925, 75 Pinyon Way, at $279,000, with FIVE bedrooms, totally updated, and an easy walk to the sandy shores of sparkling Jenkins Pond?

Or this: #21102905, 101 Brigantine Drive for $264,900, another totally renovated, 3-bedroom, 2-bath home on a private half acre and also near a neighborhood pond.  

Earthy Crunchy

  

In the $400,000s, there are two homes near Woodneck Beach in neighborhoods that are often $800,000 and more. You know what they say about location, location, location...

37 Loop Road, #21105457, at $445,000, is a Vermonty, casual house. Great for WHOI scientists or anyone who likes a country house and might want to bike to work. This person probably wouldn't even redo the kitchen. So the price is within reach of ordinary working people. 

  

Opportunity knocks

56 Hillcrest Drive, #21105825, at $489,000 needs updating, but it's been well-cared for, is almost at the end of a cul-de-sac near Woodneck Beach and the hospital, and has generous private grounds. Originally in the high $500,000s, this is a really attractive price now. Put in $100K and you're still under the neighborhood norm.

#1 favorite

Is a house with a $255,000 price reduction a deal? Well, if it started a couple months ago at $1,850,000 and now is $1,595,000, you could say so. 354 West Falmouth Highway (#21103507) is my current #1 favorite house. I'm just about dying for one of my people to buy it so I can continue to visit. It's a place that touches my soul. The views are spectacular, sensational - choose your word, it's not an exaggeration. The house is charming, tastefully renovated, not too big & not too small, and has identical views to those from 12 Quahog Pond Lane (#20910271) on the market for $3,850,000.

Panoramic West-Facing Views