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Greetings!
I hope you had a great summer! I'm not sure I had a real summer at all this year - the real estate market was quite livelier than usual, and I had a happy season of matchmaking buyers and sellers and then managing the transactions to closing.
My criterion for judging the "summeriness" of a summer is how many times I go swimming. Only twice this year, I think a new low. But I had fun with wonderful buyers and sellers, so it's a tradeoff I'm willing to make. Just a tiny bit wistful...
With the summer season behind us, the homes new to the market are being offered by serious sellers who appear to be listening to the good advice of their listing agents, and starting with reasonable asking prices. The "sellers' market" we hear about from Greater Boston hasn't hit here yet, since much of our market is an optional one, with people choosing either to retire or buy a second home. But interest rates are beginning to rise, and a home that offers value for its category will sell quickly.
Below are my picks of the week. Click on the listing or picture for more details.
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Best Value in the 200's
#21305203
$269,900
This may be the most overlooked house for sale in town. Granted, it won't ring your proverbial bell, but it is asking only in the mid-200's, it is smack in the middle of downtown Falmouth, and the spacious lot fronts on two streets. With just some cosmetics, there is a value upside to this home, which will result in a nice house in a great location for not a lot of money.
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Best Value in the 300's
#21307523
$339,900
Two months ago, this house would have received multiple offers on the first day on the market. It's in a terrific North Falmouth neighborhood and has a nice floor plan and garage, and a wonderful level lot - for a really attractive price. Again, it needs a few cosmetics (especially those shingles around the chimney), and you'll have an appealing, comfortable home in the low 300's.
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Best Value in the 400's
#21308031
$409,900
Although the asking price is in the $400's, I'm guessing this will sell in the $300's. For the money, it's a really appealing house (1,716 s.f.), with three bedrooms; two baths; a two-car garage; a nice, level lot; and at the end of a cul-de-sac. It's pretty, it's bright, and it's a good value.
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Best Value in the 500's
#21308708
$525,000
A unique property, first time offered for sale. Just .3 of a mile to the association beach at New Silver, there are 4 bedrooms, 2.5 baths, and an unusually large (for NSB) 1/2-acre lot. An old-time beach community, NSB has the very popular Tea Room for hanging out, and lots of kids' activities. Summer here is like the summer you either had or wished you'd had as a kid - the beach, friends, the freedom of a self-contained community where "everyone knows your name".
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Most Reduced in Price
#21307043
$1,325,000
How would you feel about knocking off a cool $325,000 from the asking price? These sellers listed too high ($1,650,000) during a soft time in the market (2011). There have been successive price reductions, and as often happens in a situation like this, now the asking price is less than what the home probably would have sold for had it been listed more appropriately the first time. So at this point it's kind of tired on the market, the local agents have kind of forgotten about it, and now it's kind of a good deal. The setting is nothing short of spectacular - an unobstructed view straight across the water to the pristine conservation area of Washburn Island. In addition, it's one of the fortunate 100 homes that can belong to the ridiculously affordable and totally magical Menahaunt Yacht Club.
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Best with Amenities
#21306695
$319,000
Popular with second-home buyers and retirees, Great Harbors has a pool, tennis courts, and an active summer social life. Recent sales have been well into the $300's and even the $400's, so this home offers obvious value. With three bedrooms, two full baths, a one-car garage, hardwood floors, nice deck and yard, it's unquestionably a good deal.
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Best Falmouth Heights
#21307042
$369,000
This house needs a buyer with a little imagination and a few bucks to make it sing. But it's got location, location, location. And at a price that will allow that imagination and those bucks to get the job done. You really can't find a decent house in the Heights in the mid $300's. The potential here is easy and not costly. The home is an unpolished gem just waiting for a buyer with vision.
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Most Surprising
#21308039
$1,199,999
Why is this the most surprising, you ask? Well, you drive down a small dirt road and pull up to an unassuming house in the pines. When you go inside, you see a well-maintained, older - some would say exceptionally charming - home directly on the water. This is an old-time kind of house, not for everybody but outstanding for those who recognize its unique appeal.
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Best OSB
#21308711
$565,000
Do you know that OSB stands for Old Silver Beach? Do you know that OSB is renowned for its soft white sand, clear blue water, and those blazing sunsets that are a cliche, but not a cliche when you're watching them? This house is on a small, quiet street tucked away off the main road, but less than a half mile to the beach. With three bedrooms, 1.5 baths, and a half acre of space to play in, garden, and enjoy, $565,000 may not be a bargain, but it's not overpriced, and is just a really good house for the money. Today's the first day on the market. I'll be watching to see how long it lasts and how much it sells for.
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Least Expensive Direct Waterfront
#21308692
$525,000
What is direct waterfront worth? This is a small house (775 s.f.), but it's ON the water, facing east for glorious sunrises. It's hard to find direct oceanfront for this price. You may have heard about the rise in flood insurance rates that is currently taking place. A similar property to this has had an increase of 25%, bringing the yearly fee to $1,700. Still not a lot of money, especially when you factor in the very favorable overall property tax rate in Falmouth of $8.04 per $1,000. And some homes along Edgewater East Drive (not sure about this particular one) are not required to have flood insurance because of their elevation. In context, the requirement for flood insurance is not necessarily scary.
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Best Direct Waterfront for the $$
#21303594
$799,900
Listed in April 2013 for $925,000, this home has seen a succession of price reductions to a point where it now - I'm sounding like a broken record - offers value. It is direct waterfront. It does have 3,000 s.f. of interior space. It also has over an acre of land. The views do take your breath away. And it's only ten years old! It is, in my opinion, the most house, in the best condition, with the most private lot, for the money.
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Summer Vignettes
 This is my favorite real estate story from the summer: One afternoon, my phone rings, and on the other end of the line, a woman with a heavy accent introduces herself and tells me that she and two friends are sitting on the beach, looking at listings on their phones. (Can you just picture this?) They're interested in seeing my cute downtown house, can I show it now? Of course I say yes, and 15 minutes later I meet the three of them at the house. Show them around, give them some private time afterward, and the buyer asks if her husband can see it in an hour. Of course! Long story short, they make an offer, it's negotiated and accepted, and two weeks later they close. Welcome to your new home, Lena and Michael!
So why is this story special, you're wondering? Twenty-four years ago, this couple and their young daughter immigrated to this country from Russia, with $600 to their name. They worked hard, saved their money, bought a house in Natick as soon as they could - and now, with little mortgage left on the Natick house and a healthy home equity line, they're buying a wonderful beach house. As my immigrant grandmother used to say, "God bless Ameriky!"
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The garden I'm leaving :(
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I sold and bought again this summer. It doesn't get any easier just because you do it frequently. After having a first round with very difficult buyers, I ended up with the best buyers in the world. Thank you, Daniela and Bill! Will tell you more in my next newsletter about my new digs...
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Had the honor of being invited as a guest on Angela Philbrook and Claudette Vickery's Saturday morning real estate radio show on WXTK here on Cape Cod. Angela is President of Cape Cod Title and Escrow, and Claudette is a Lending Division Manager at Sovereign Bank. Working with two consummate professionals who are as dedicated to their clients as I am is a treat. This is reinforced repeatedly when they respond to my late-night emails immediately. They get the job done consistently and with respect; and resolve the unexpected issues with no drama and great results. They are very appreciated members of the team I offer my buyers. Tune in to XTK (95.1) at 10:00 on Saturday mornings; you'll enjoy the show!
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Those of you who are familiar with my unique real estate practice know that I work with a limited number of buyers and sellers at any given time. The summer was (fortunately) productive, and I now have time for a few new clients. Please contact me if you or anyone you know is or is planning to buy or sell one of these days. Also, just a reminder that upon closing any of your referrals, it is my pleasure to make a generous donation to the charity of your choice.
Cordially,
Nadine
Nadine Krasnow
Falmouth Fine Properties
P.O. Box 664
Falmouth, MA 02541
(617)921-7552
nadine@falmouthfineproperties.com
Sizzling Service AND Results Speak!!
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