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Greetings!
It's unbelievable, but the summer has ended, and fall is moving in rapidly. Boats are being removed from the water for the winter, landscapers are doing fall clean-ups and the summer clam shacks are all closed for the season.
The fall offers a great time on Cape Cod to enjoy all it has to offer with low crowds, almost empty beaches, walking and bike trails and more. It also is a great time to either buy or sell a home on Cape Cod. For buyers it offers discounted accommodations and restaurants, and of course ease of viewing your possible new Cape Cod property. For sellers it offers a large base of serious buyers looking to find that special Cape Cod property.
The fall is a great time on Cape Cod no matter what the reason!
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Market Overview Cape Cod
While the national real estate picture is still showing some weakness in many areas with talk of recession, a non-productive government, Wall Street and continued high unemployment numbers, Cape Cod is still fending much better.
Remember all real estate is local - Cape Cod is internationally famous as a summer resort area and is increasingly popular for retirement living. It has miles of beaches, natural attractions, historic sites, art galleries, and four star restaurants and hotels. It also offers great outdoor activities such as world class boating, coastal and deep sea fishing, numerous public and private golf courses, and a wide variety of other summer sports. The Cape is also located less than 100 miles from Logan Airport in Boston, or T.F. Green Airport in Providence, Rhode Island.
The Cape as a whole showed a slight increase in sold sales from the same time period last year up 2.4%, along with a pretty strong increase in pending sales up 13%. The inventory of for sale property showed a slight decline down 1.1%.
For the Lower Cape which includes Brewster, Chatham, Eastham, Harwich and Orleans the high end of the market was very active in the third quarter, with many sales being recorded over the million dollar level.
When purchasing real esate, the old standard rule applies - LOCATION-LOCATION-LOCATION
SALES AND PENDING CAPE COD
SALES AND PENDING LOWER CAPE
SALES AND PENDING ORLEANS
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Stay Clear of the Stock Market - Invest in Cape Cod Real Estate Instead
As we all know, the stock market has been driving investors crazy lately. It is up and down, up and down, just like a yo-yo. That is why now is a great time to invest your money into Cape Cod Real Estate instead. Prices are currently at a level we have not seen in some time. There are great deals out there to fit anyone's budget.
Cape Cod is perfect for a vacation home, retirement home or for a rental investment property. There are a variety of properties available from condos to large custom waterfront estates. Cape Cod offers a magnificent lifestyle with plenty of great shopping, restaurants, world-class golf, boating, fishing and of course some of the best beaches to be found on the East Coast.
Right now is a great time to purchase a Cape Cod property. Our current inventory of property offers a wide selection of possibilities. For rental investment the summer rental market has been strong with rental rates generally higher on Cape Cod than other areas.
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Mortgage rates hit lowest level ever recorded
Headline says it all - mortgages are at their lowest rate since most organizations started recording them. For example, says Bankrate, the 30-year fixed-rate mortgage fell to 4.32 percent, "the lowest rate level the fixed rate has reached since Bankrate started the weekly mortgage survey 26 years ago."
And Freddie Mac says its average 30-year fixed-rate mortgage was 4.09 percent. Again, the lowest level ever.
What does that mean?
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High-end home sales surging
By Jennifer Athas / Hot Property
Friday, October 7, 2011
TOP SALE: The priciest Bay State transaction for the third quarter
was this 11,500-square-foot house overlooking North Bay in
Osterville Cape Cod. The seven-bedroom house, on 11.2 acres,
sold for $11.6 million.
The volume of Massachusetts residential sales increased in the third quarter by 13 percent compared to the same period last year, creating an overall picture of stability in the Bay State's housing market, according to market data provided from MLS PIN.
"The market's bright spots included an uptick in sales at the higher end of the market - over $1 million - as well as an overall decrease in inventory, and an influx of foreign buyers investing in homes," said Paul Reinsmith, vice president of residential mortgage at Boston Private Bank and Trust
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Fun Things To Do On Cape Cod
Cape Cod Canal
Self- guided Bike Hike
Canal Bike Hike
The U.S. Army Corps of Engineers welcomes you to the Cape Cod Canal. You're invited to exercise your body and mind as you journey along the waterway. Discover the Canal's unique history and features while you bike, skate, or walk along the service roads on either side.
Take this guide with you to explore the various points of interest along your way. Whether you're on the North (mainland) side or the South (Cape) side, traveling East towards Cape Cod Bay or West towards Buzzards Bay, biking all or part of the service road, this guide will serve as an informative companion. Your best access point would be to enter the parking area just past the Friendly's restaurant on the Plymouth side of the Sagamore bridge, instead of pulling into Friendly's just go straight.
Where do I stop?
Look for pole numbers. These are numbers that are posted on the navigational lighting poles that run the entire length of the service roads. The numbers start on the east end near Cape Cod Bay and increase as you head west towards Buzzards Bay. This guide may be used no matter where you start, just match up the points of interest with the pole numbers.
* Numbered poles are about 500 feet apart
Safety First!
In order to ensure the safety of yourself and other visitors when bicycling or in-line skating along the Canal's service roads there a few things to keep in mind:
* Always wear the recommended safety equipment, and be sure it fits properly
* Go slow
* Stay to the right side of the road
* When passing slower moving traffic, make sure to announce that you are about to pass on the left side
* Winds on the Canal can be strong at times. Be careful not to tire yourself out
* Drink plenty of water, and rest often
* When stopping, move to side of the road
* Be safe, respect others, and have fun!
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Mortgage Rates
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Effective
October 18,2011
loan to $417,000.
30 year fixed 4.25%
15 year fixed 3.625%
loans $417,000 to $1,500,000.
30 year fixed 5.022%
15 year fixed 4.287%
Adjustable up to $1,500,000
5/1 2.990%
7/1 4.500%
If you are shopping around for the best mortgage rates you could not have picked a better time. The prime rate is as low as it has been for many years.
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Kinlin Grover Real Estate, 55 Main Street, Orleans, MA 02653
Put my decades of listing and selling premier Cape Cod property to work for you.
Thinking of buying or selling Cape Cod property, act now and save $500.00 with this coupon. This coupon is also transferable to friends and family. Act now ! Present this coupon at time of first meeting. Credit will apply at time of property closing | | Offer Expires: January 30, 2012 |
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