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Bob Sheldon - Eastham & Outer Cape Cod Real Estate |
"Local Agent, Professional Service" |
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Pass It On !
If you have a friend who might find this newsletter interesting, please forward it to them. Thank you in advance.
Mortgage Corner - 5.125%
Mortgage rates have steadied at 5.125% (30 yr/zero points, 5.155% APR). The future direction of the mortgage market is anyone's guess. Now may be the time to buy your Eastham dream home, before it's too late.
My Contact Info ......
Email: BobSheldon@remax.net
Website: http://www.RobertSheldon.com
Blog: http://BobsEastham.blogspot.com
Phone: 508-237-9545
Office: 508-255-8666
Address: 3 Main Street - Unit 6
Main Street Mercantile
Eastham, MA 02642
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| | Eastham 3Q2009 Update Single Family Homes.... - The first 9 months of 2009 had 51 closings, vs. 75 for the same period in 2008, down 32%.
- The average selling price through 9/30/09 was $459,378, down 17.4% from the same period in 2008.
- The YTD median sale prices, a better measure of the market, fell from $450K in 2008 to $352,500 this year, down 22%. Ugh!
- There are 108 single family homes for sale in Eastham, with an average list price of $538K and a median price of $450K. (Note: the October 2008 'active' number was 113).
- There are, also, 18 homes that are "Pending" (i.e. have a closing scheduled).
Condos... - There were only 4 condos sold through 9/30/09, with an average sales price of $205K.
- This compares to 13 (with an average sale price of $273K) for the same period in 2008.
- There are currently 13 condos for sale in Eastham. They range from $113K to $439K.
Residential Land... - Only 5 parcels of land sold in Eastham though the first 9 months of 2009.
- The average sale price of land was $188K. A year ago the YTD average was $195K on 2 sales
- There are, currently, 25 residential building lots available, ranging from $160K to $595K.
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Commentary:
As I've been reporting, YTD sales volumes are down, way down. Third quarter sales figures were slow by any standard. There were only 21 closings during the quarter, compared to 30 for 2008 and 44 for 2005. I don't see us 'catching up' to last year's sales numbers. Inventory seems to have inched up slightly to what should be the seasonal high of about 108. The fall season is underway and there seems to be a fair a number of folks looking for the right place, but at the right (read "bargain") price. There continues to be great properties and great deals at all price points. Unfortunately, the Buyers haven't seen it that way. You can see from the graph, below, that the mid-range buyers have been absent. My hypothesis is that the mid-range buyers are in 'wait' mode due to the national economic slowdown. By the way, it's the bi-polar nature of the sales that have made the 'numbers' look so bad. It has also made it impossible to determine how much the market has moved in the last year or so. 
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My New Rental Program - List Your Home It was requested by one of my Buyer clients that I post rentals on my website. So, to that end I have decided to start small by posting short rental listings for my Buyer and Seller clients. Each listing will have a short description, a small photo, and a call-to-action. The call-to-action can be either a link to another website, or a name with a phone number. Check our my 'sample' page at http://Rentals.RobertSheldon.com . These listings will be complementary. All I ask is that potential renters mention where you saw the listing. I ask the landlords to let me know whether the listings 'help' the process. If you'd like your home listed, simply E-mail me at BobSheldon@remax.net with your description and photo (I'll do the photo re-sizing).
Own A Summer Home? - How To Prepare For Winter  Owners of summer homes need to prepare their homes for the colder weather. The worst case scenario is a pipe burst that allows water to flood the inside of the home. Water can run for days and weeks undetected. We see a few of these ugly situations every year. The damage can run into the hundreds of thousands of dollars. There are a number of must-do items as well as a few 'best practices' for winterization. The Wellfleet Fire Department has prepared a checklist that could be very useful in preparing for winter. Check out the checklist...Here. |
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 September's Eastham Sales Details The following table provides the details for the homes sold in Eastham in September. The "Original Price" is the beginning list price for the listed home. The "Listing Price" was the list price at the time of the accepted offer and reflects any price reductions the home may have taken. The "% List" is the Selling Price divided by the Listing Price (x100). To see the full year-to-date sales details, go Here. Street Full Address | Original Price | Listing Price | Selling Price | %List | Listing Date | Selling Date | 340 Weir Rd | $195,000 | $195,000 | $175,000 | 89.7% | 05/22/2009 | 09/01/2009 | 135 Silver Oak Rd | $356,000 | $356,000 | $349,500 | 98.2% | 07/16/2009 | 09/10/2009 |
A Customer Letter - A Buyer
Bob,
Sorry it has taken so long to write this note, but we have been too busy enjoying our new Cape home! We wanted to thank you for all the hard work and guidance in our purchase. We had been looking for many years and the prices finally fell enough for us to jump in. You made the whole process fun and easy for us; from looking online at houses to driving around in the offseason to actually see them up close.
Your patience and fortitude in guiding us through buying a foreclosed property was greatly appreciated, and I do not feel we could have pulled it off with out you. Your combination of local knowledge, great interpersonal skills, computer savvy and quiet strength made the whole process well worth it.
Thanks to you, we hope to spend many a fun summer on the cape, surfing, sunning, and introducing Beni to all the fun.
Truly heartfelt Thanks!,
T., A., & B. C. (of Massachusetts) |
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 My Outer Cape Blog - Lots of New ArticlesI have 'started over' with my Outer Cape Real Estate Blog. My plan is to put up a few new entries each week. Here are a number of stories from my blog that didn't fit this newsletter. Check them out... If you'd like to subscribe to my blog on Google Reader (or any other blog reader) simply click on the 'subscribe' button on the left column of my blog. Also, add your thoughts to the blog by commenting on the various articles. |
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 Buying ? / Selling ?
Is it time for you to buy or sell Eastham property? Allow me to step through your options as your real estate agent. Call me at 508-237-9545 or send me an E-mail at BobSheldon@remax.net. Buyers: If you plan to come to Eastham this fall, I'd love to provide you with listing sheets (and a map) of available properties. You can then do drive-bys of properties that interest you, and then we'll schedule an appointment for a showing. It's really simple. Sellers: Would you like to know what your Eastham home is worth in today's marketplace? Call me for a free market analysis review of your property. |
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Please disregard the promotional content of this newsletter if your property is currently listed with another agent. |
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©2003-2010 Bob Sheldon
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