Spring is Blooming on the Cape
This weekend was officially the first perfect spring weekend on the Cape. The crocuses are popping, the daffodils are springing, and the birds are singing. Just a beautiful start to a beautiful season on the Cape.
Cape Cod Real Estate Updates:
U.S. and Cape Cod Real Estate Prices Return to Normal
“A market returning to normal” is the way Global Insight, a privately held global information company, describes the current housing market, based on the most recent U.S. Housing Valuation Analysis.
The Housing Valuation Analysis — a joint effort by Global Insight and National City Corp. — examines the top 317 U.S. real estate markets using data from the Office of Federal Housing Enterprise Oversight. Taking into consideration differences in population density, household incomes, and interest rates, the analysis determines what home prices should be and how much current prices deviate from that norm.
A Closer Look
“Nearly all markets posted a decline in the level of overvaluation, which signals that the overall housing market is beginning to trend back to more normal price growth,” says Jeannine Cataldi, senior economist and manager of Global Insights Real Estate Service.
The number of markets identified as overvalued decreased to 57 from 60 metro markets in the fourth quarter of 2006. Texas had the highest concentration of undervalued markets with Dallas and College Station-Bryan tying for lowest in the nation.
Although the greatest incidence of overvaluation remains in pockets along the Atlantic and Pacific coasts, corrections are under way in some markets as prices and appreciation rates decline. Approximately 15 percent of the nation’s single-family housing stock experienced price declines in the fourth quarter.
The report finds that New England no longer appears to be “significantly overvalued,” while Orange County, Calif., Tucson, Ariz., Reno and Carson City, N.V., and Kingston, N.Y., fell below the “threshold denoting extreme overvaluation.” Even though these markets are still considered “significantly overvalued,” the report points out that slowing rates of appreciation reflect “a gradual movement toward historical price trends.”
Nationally, according to OFHEO data, prices advanced by 1.8 percent — metrics the report says are more upbeat than those reported by the Commerce Department, which showed an increase of 1.6 percent in median transaction prices. It's also more than the NATIONAL ASSOCIATION OF REALTORS®, which showed a decrease in median prices of 2.8 percent. "Median transaction prices tend to overstate price strength during buoyant markets and understate price strength during soft markets,” according to the OFHEO.
— By Camilla McLaughlin for REALTOR® Magazine Online
Click here to check for updates to Cape Cod Real Estate.
Sunday, April 1, 2007
Wednesday, March 28, 2007
After a short hiatus, I am back. I had a rather serious car accident in a sudden snow storm a few weeks back. Always wear your seatbelts and don't depend on airbags. Mine did not deploy. My car was totalled and my neck is still in a brace but I am lucky to be alive. My Yellow Lab, Charlie was in the back seat and he too is doing OK. Many thanks to all those who sent get well wishes.
Come See Why This is Everyone's Favorite
New to the Harwich Real Estate market, is a charming, fully restored 1780 Antique Cape Cod Home in remarkable move-in condition. Join me for an Open House on Sunday, April 1st from 12 PM to 3 PM.
Step inside to see this is truly a home for all seasons that exudes the warmth and character of a bygone era with every modern convenience.
If you're looking for something above the ordinary, this is the home for you.
Cape Cod Real Estate Updates:
Mortgage Demand Up 17% Over Last Year
Demand for mortgages fell slightly last week compared to the previous one with the Market Composite Index decreasing 0.2 percent from 672.1.
But on an unadjusted basis compared with the same week one year ago, applications were up 16.6 percent.
The refinance share of mortgage activity decreased to 45.1 percent of total applications from 45.3 percent the previous week.
The average interest rate for 30-year fixed-rate mortgages decreased to 6.04 percent from 6.06 percent.
The average interest rate for 15-year fixed-rate mortgages decreased to 5.77 from 5.79 percent.
The average contract interest rate for one-year ARMs decreased to 5.84 from 5.88 percent.
Source: —REALTOR® Magazine Online
Click here to check for updates to Cape Cod Real Estate.
Come See Why This is Everyone's Favorite
New to the Harwich Real Estate market, is a charming, fully restored 1780 Antique Cape Cod Home in remarkable move-in condition. Join me for an Open House on Sunday, April 1st from 12 PM to 3 PM.
Step inside to see this is truly a home for all seasons that exudes the warmth and character of a bygone era with every modern convenience.
If you're looking for something above the ordinary, this is the home for you.
Cape Cod Real Estate Updates:
Mortgage Demand Up 17% Over Last Year
Demand for mortgages fell slightly last week compared to the previous one with the Market Composite Index decreasing 0.2 percent from 672.1.
But on an unadjusted basis compared with the same week one year ago, applications were up 16.6 percent.
The refinance share of mortgage activity decreased to 45.1 percent of total applications from 45.3 percent the previous week.
The average interest rate for 30-year fixed-rate mortgages decreased to 6.04 percent from 6.06 percent.
The average interest rate for 15-year fixed-rate mortgages decreased to 5.77 from 5.79 percent.
The average contract interest rate for one-year ARMs decreased to 5.84 from 5.88 percent.
Source: —REALTOR® Magazine Online
Click here to check for updates to Cape Cod Real Estate.
Saturday, January 20, 2007
December Cape Cod Home Sales Rebound
A Yellow Lab
My friend Charlie is a Yellow Labrador Retriever. Today, he and I went to West Dennis Beach for our daily walk. I walk, he runs like the wind. In our 2 mile walk from one end to the other, Charlie will run 10 or more miles. Boundless energy! Feel free to meet us there some morning to see for yourself! It's a great way to start the day.
Cape Cod Real Estate Updates:
December Cape Cod Home Sales Rebound
December may have been the brightest spot in a yearlong slump in real estate sales, according to numbers released yesterday by the Cape Cod & Islands Association of Realtors.
For the first time in a year, the number of single-family homes sold in a month was higher than it had been in the same month in 2005.
A total of 264 homes were sold in December, up more than 5 percent from 251 in December 2005. The average sale value for the month was also up about 2.5 percent, at $575,129 in December, compared with $561,067 in the same month in 2005.
For all of the previous months in 2006, the number of sales was down anywhere from 9 to 37 percent when compared with sales in the same months in 2005.
The number of single-family home sales in all of 2006 was down more than 21 percent compared with 2005.
However, the average sale price for 2006 was up more than 2.5 percent.
A total of 3,307 single-family homes were sold in 2006 compared with 4,189 in 2005. And the average sale price for all of 2006 was $554,632 compared with $540,826 in 2005.
The Realtors track only sales handled through the Cape Cod & Islands Multiple Listing Service.
Statistics released earlier this month by the Barnstable County Registry of Deeds also indicate December was a relatively strong month.
The registry, which tracks all sales on the Cape valued at more than $50,000, reported the number of residential, commercial and other properties sold in December was down by 3.9 percent compared with December 2005.
For the entire year, the number of property sales was down by 22.5 percent at 6,368 in 2006 compared with 8,219 in 2005, according to the registry's numbers. The median sale price for the year was unchanged from 2005 at $365,000, according to the registry.
The median sale price is the midpoint price, meaning half the sales were valued at more than $365,000 and the other half were higher.
Commenting on the registry numbers in a Jan. 2 Cape Cod Times story, real estate brokers and county Register of Deeds John Meade said the December statistics may indicate the slowdown in the market is coming to an end.
Source: Cape Cod Times (1/20/07)
Click here to check for updates to Cape Cod Real Estate.
My friend Charlie is a Yellow Labrador Retriever. Today, he and I went to West Dennis Beach for our daily walk. I walk, he runs like the wind. In our 2 mile walk from one end to the other, Charlie will run 10 or more miles. Boundless energy! Feel free to meet us there some morning to see for yourself! It's a great way to start the day.
Cape Cod Real Estate Updates:
December Cape Cod Home Sales Rebound
December may have been the brightest spot in a yearlong slump in real estate sales, according to numbers released yesterday by the Cape Cod & Islands Association of Realtors.
For the first time in a year, the number of single-family homes sold in a month was higher than it had been in the same month in 2005.
A total of 264 homes were sold in December, up more than 5 percent from 251 in December 2005. The average sale value for the month was also up about 2.5 percent, at $575,129 in December, compared with $561,067 in the same month in 2005.
For all of the previous months in 2006, the number of sales was down anywhere from 9 to 37 percent when compared with sales in the same months in 2005.
The number of single-family home sales in all of 2006 was down more than 21 percent compared with 2005.
However, the average sale price for 2006 was up more than 2.5 percent.
A total of 3,307 single-family homes were sold in 2006 compared with 4,189 in 2005. And the average sale price for all of 2006 was $554,632 compared with $540,826 in 2005.
The Realtors track only sales handled through the Cape Cod & Islands Multiple Listing Service.
Statistics released earlier this month by the Barnstable County Registry of Deeds also indicate December was a relatively strong month.
The registry, which tracks all sales on the Cape valued at more than $50,000, reported the number of residential, commercial and other properties sold in December was down by 3.9 percent compared with December 2005.
For the entire year, the number of property sales was down by 22.5 percent at 6,368 in 2006 compared with 8,219 in 2005, according to the registry's numbers. The median sale price for the year was unchanged from 2005 at $365,000, according to the registry.
The median sale price is the midpoint price, meaning half the sales were valued at more than $365,000 and the other half were higher.
Commenting on the registry numbers in a Jan. 2 Cape Cod Times story, real estate brokers and county Register of Deeds John Meade said the December statistics may indicate the slowdown in the market is coming to an end.
Source: Cape Cod Times (1/20/07)
Click here to check for updates to Cape Cod Real Estate.
Friday, January 12, 2007
Cape Cod Real Estate Slump Hits Home Stretch?
Snow in the future on Cape Cod?
Not this weekend. Sixty-eight days to the first day of Spring!
Cape Cod Real Estate Updates:
Cape Cod Real Estate slump hits home stretch?
Property sales on Cape Cod slowed considerably in 2006 compared with 2005, according to statistics released yesterday by the Barnstable County Registry of Deeds. Despite that drop, the registry's numbers offer a hint that the market may be on its way to a rebound, according to local Realtors and county Register of Deeds John Meade.
According to the registry's final sales report for 2006, a total of 6,368 residential and commercial properties were sold, down 22.5 from the 8219 properties sold in 2005. Meanwhile the median sale price for the year showed no change rom 2005, staying put at $365,000 according to the registry.
Source: Cape Cod Times (1/3/07)
Click here to check for updates to Cape Cod Real Estate.
Not this weekend. Sixty-eight days to the first day of Spring!
Cape Cod Real Estate Updates:
Cape Cod Real Estate slump hits home stretch?
Property sales on Cape Cod slowed considerably in 2006 compared with 2005, according to statistics released yesterday by the Barnstable County Registry of Deeds. Despite that drop, the registry's numbers offer a hint that the market may be on its way to a rebound, according to local Realtors and county Register of Deeds John Meade.
According to the registry's final sales report for 2006, a total of 6,368 residential and commercial properties were sold, down 22.5 from the 8219 properties sold in 2005. Meanwhile the median sale price for the year showed no change rom 2005, staying put at $365,000 according to the registry.
Source: Cape Cod Times (1/3/07)
Click here to check for updates to Cape Cod Real Estate.
Subscribe to:
Posts (Atom)