The Cape Cod real estate market is a local market and there is a significant amount of positive news if you are selling.  Buyers of Cape Cod real estate may need to step off the side lines and get into the game if they want to get the best pricing possible.

Year over year and month over month, Cape Cod real estate pricing has increased. If that is not enough to get you to move, then maybe the volume increase year over year will motivate you.  Cape Cod real estate is now more affordable than it has been in years. That said, waterfront property still is holding onto much of its value, but now you don’t need more than a million dollars to by Cape Cod real estate on the ocean.

What is motivating people to buy is the big question. It could be a combination of pent up demand, low prices, great rates and good inventory. The financially distressed properties have proven to be very active, with some only lasting hours on the market.

Pricing an offer correctly from the start is important, when working with buying a short sale or bank owned property. It is also imperative that you have all the financing secured prior to making the offer and being able to provide proof of funds.

Properties that are priced correctly, even if they are not in a distressed situation, are moving quickly as well.

Buyers and Sellers of Cape Cod real estate are now engaging in win-win negotiations and the pace is healthy for the market. If you are interested in buying or selling, this could be your time.

Cape Cod Real Estate Market Update, Nov 20

Harwich is the spotlight Town of the Week. Harwich real estate offers a lifestyle that compares to any town on Cape Cod. Harwich offers beaches, golfing, ponds and all the quintessential Cape Cod activities that make buying Cape Cod real estate a dream for many.

The Cape Cod real estate market is moving steadily forward. Prices fluctuate from town to town and even village to village. If you are looking for Cape Cod real estate to buy as an investment, vacation home or primary residence, it is important that you work with a Cape Cod real estate agent that knows the data.

It is critical that the professionals that work with you understand your goals and can help you evaluate your investment in today’s market and potential in the future. Although it is difficult to determine the future value in any market, the Cape Cod real estate market is very much a local market and the property in some areas are able to maintain their values.

The non-real estate tip of the week is a safety tip all travelers should know. If you are driving to Cape Cod to see relatives or to look at Cape Cod real estate taking precautions on the road can save a life.

Short Sales, REO’s and Cape Cod Real Estate

Much is being said about short sales and bank owned properties(REOs). Some of it is positive some negative. The Cape Cod real estate market currently has a good inventory of such properties.

The fact is that trying to obtain a distressed property is not for everyone. The process can be long and frustrating.

A short sale occurs when a seller owes more to a lender(s) than the property is currently worth. The process starts when an offer is made and accepted by the seller. It then has to be approved by the lender(s). Along with the offer, the lender in the first position, that which is usually owed the most money, must collect a docket of information from the seller to prove that this property will not sell for what is owed and that the owner cannot make payments.

Other lenders or lien holders, if any, who are owed money, need to be satisfied as well. Cooperation is not always given and the process can linger on for months or completely stall. Local banks that know

Bank owned or REO properties are a bit different, although they too can linger on for months. Most bank owned properties are now requiring proof of funds or pre-qualification from the lender with submission of an offer. This helps improve the timing of the process but puts more burden of the buyer upfront. Cape Cod real estate values are sometimes faster in the process. National banks who don’t necessarily understand the Cape Cod real estate market can be harder to handle.

You should be aware that multiple offers can be submitted with both of these situations. Many times the bank will approve a sale, then turn around and ask for best and final offer from all participants.

Distressed sales are great for those who are not in a hurry to buy a property and are willing to wait. Also you should have solid funding options and be willing to make offers on multiple properties to get the best value for the investment. It is important that one does not fall in love with the property, as you can end up losing it or overpaying and ultimately miss out on other buying opportunities.

Do not attempt these types of transactions if you have a deadline of any kind. If you have locked rate and/or are trying to take advantage of the current tax credit incentives, you should tread very carefully as you can end up losing on all ends.

Cape Cod real estate appeals to many, including investors, second home owners and first time buyers. No matter your experience level, using an attorney, real estate buyer’s agent or third party loss mitigation consultant is critical to help guide you through the process and set true expectations.

Cape Cod Real Estate Market Update, Nov 13

This week’s Cape Cod Real Estate Market Update covers the week ending November 13, 2009.

Knowing what is happening in the current market is critical for anyone who is thinking of buying or selling Cape Cod real estate. There are many opportunities on Cape Cod to buy a property that heretofore was out of reach for many. With that said, Cape Cod real estate still maintains value as compared to many other communities across the country. Many of the opportunities are for properties that are financially and/or physically distressed.

The Cape Cod real estate market is similar to many in the area of financing. The rates are currently fantastic, but many are struggling to qualify.  However there are several programs that can help buy now and take advantage of the opportunities that exist in today’s Cape Cod real estate market.

It is important that you work with a team of professionals that know the local market. First, start with a Realtor. A good Realtor will be able to connect you with a lender who knows the Cape Cod real estate market and can get you qualified for a plan that will work for you. The other member of the team is an attorney, who also knows the Cape Cod real estate market.

If you ever dreamed of owning Cape Cod real estate, then you owe it to yourself to at least investigate the possibility.

The Chance of A Lifetime

Change is constant. The leaves are now falling off their branches and cluttering lawns. The mornings are darker, longer. Daylight is decreasing.

The real estate market is no different. Weekly and monthly fluctuations with the average “sold” and “for sale” prices and volume can keep the observer very busy trying to make sense of it all. Other condition regarding interest rates and government incentives seem to be in constant flux as well.

What has not changed, in a while, is that there are some great opportunities in the market. The current market has created a great buying opportunity for those who are prepared and willing to participate. Many of the financially distressed properties, whether a bank owned, short sale or someone needing to sell quickly to avoid both, offer a great value. Some are priced so low that they can be purchased and resold within a short period of time for a profit. Others offer an opportunity for a buyer to get into a first home or vacation home in a neighborhood heretofore unattainable.

Most trends are supporting a healthier market, meaning prices could be close to the bottom and home equity will eventually be restored. However, continued foreclosures and job loss and the government home buying incentives, should keep the market ripe for buyers for some time.

Trying to “time” the market is a difficult practice and can only be truly accomplished with hindsight. If you have the capacity and the will to buy real estate, for whatever purpose, now is the chance of a lifetime for many.

Cape Cod Real Estate Market Update, October 30, 2009

This week’s Cape Cod real estate market update will keep you informed of the real estate market activity as it is happening. No need to wait weeks to find out when it will be too late to react. Cape Cod real estate is unique as is every local real estate market. If you are planning on buying or selling Cape Cod real estate, then being informed about the market is important. It could save you thousands of dollars in a transaction.
Yarmouth is the Cape Cod real estate Spotlight Town of the Week. Yarmouth offers a great opportunity to own Cape Cod real estate in any price range. Beaches, golf, boating, many restaurants and much more make Yarmouth a great town to own Cape Cod real estate, whether year round or second home.
The Cape Cod real estate market update’s Non-Real Estate Tip of the Week, offers advice on your football viewing habits and your health.
Spend the next three minutes learning about the Cape Cod real estate market and it could lead to a healthier, happier and more financially rewarding life.