Since the last blog, way back in May, the outlook has improved. There are substantially fewer houses on the market (which means there have been some sales) and there was, consequently, a good deal of activity during the summer. That would explain the lack of adding to this blog in all those months. While it wasn't a frantic summer, there was enough activity to keep us showing and selling.
Now as we approach Thanksgiving, it seems there are still many people still on the fence. They've looked, they may have decided what they want, but haven't said "GO" yet. It's always an individual decision, and each situation is different. To us Realtors, it seems that everything is aligned properly for a person contemplating a buy. Interest rates are as low as we've seen them in years and years and the prices have come down on almost every listing. That had to happed, it did, and now the sellers are waiting for offers.
Monday, November 16, 2009
Wednesday, May 13, 2009
Some good news, bad news
First, the good news......The Cape Cod Times reports that the "housing crisis is showing signs of ending." That's based on a number of factors such as a decrease in the number od foreclosures and a decrease in the number of calls for assistance in avoiding foreclosure. Those are very slight indicators vis-a-vis the Chatham, Harwich, Orleans and Brewster area, but they are indications nonetheless. That's the good news, and lets try to be optimistic. The fact that any media outlet finds something to be optimistic about is a real breakthrough!
The bad news is that the inventory in Chatham is still expanding. Now there are 271 single family houses for sale in Chatham. The good news part of that is that if you're looking for a house, you've got a tremendous selection!
The bad news is that the inventory in Chatham is still expanding. Now there are 271 single family houses for sale in Chatham. The good news part of that is that if you're looking for a house, you've got a tremendous selection!
Wednesday, April 22, 2009
Number of Days on Market
There's an interesting statistic that many people overlook when thinking about buying a house. It's "number of days on the market" and it's sometimes related to another factor found in our MLS information, "property history." Not to over complicate things, these are 2 areas to check out when trying to find out whether an owner is anxious to sell. This entry today is prompted by a woman who came into the office today and asked "are there any distress sales available?" The answer she was given was, "You don't really know until you make an offer and find out what the owner's reaction is."
And that's the only answer and the right answer. Many owners have a specific number in their minds, and won't entertain anything under that specific number. Other owners have established an asking price which is strictly that......an asking price, but they will reply to offers much lower than that.
Each house and each owner is a different situation with a different set of circumstances. A buyer has to understand that and be willing to work within that framework, as loose and intangible as it is. An experienced agent is always able to steer a buyer through the steps needed to end up in the right place. And in the end, when a sale is consumated, there is a happy buyer and a happy seller.
And that's the only answer and the right answer. Many owners have a specific number in their minds, and won't entertain anything under that specific number. Other owners have established an asking price which is strictly that......an asking price, but they will reply to offers much lower than that.
Each house and each owner is a different situation with a different set of circumstances. A buyer has to understand that and be willing to work within that framework, as loose and intangible as it is. An experienced agent is always able to steer a buyer through the steps needed to end up in the right place. And in the end, when a sale is consumated, there is a happy buyer and a happy seller.
Monday, April 20, 2009
The list keeps growing
In just a few days, the number of houses for sale in Chatham is now up to 268. The average asking price is $1,389,000 and the average house has been on the market for 228 days.
Friday, April 17, 2009
It’s been too long since I sent you a newsletter, but the time has come for me to remind you that I’m still here selling houses, and want you to know what’s going on in the lower Cape market.
I hope to get these to you on a more frequent basis, but as always, if you find them intrusive, or just don’t want to receive them, let me know. I hope you’ll find what I say helpful and maybe interesting.
There has been so much change in the last 2 years. It’s staggering! Right now, there are more than 250 single family homes on the market in Chatham alone. In my 21 years, that’s the highest number ever. And I can’t understand why.
There’s a definite dichotomy in that scenario. It’s a fact that Chatham homeowners are, for the most part, pretty solid. Many houses have no mortgage or if any, a small, manageable one. That’s possibly the main reason that Chatham prices have remained higher than most other towns on the Cape. Owners didn’t have to sell. If they were selling, they could keep their house until they got the price they were satisfied with.
That’s a fact. So why, all of a sudden, are here more houses on the market than ever before? Perhaps you, the typical Chatham homeowner can tell me. I’ve heard of some instances where owners had to sell because of traumatic changes such as job loss, but can this sudden spurt in the number of houses for sale be att1ributed to job
loss? I certainly hope not. I think people/owners are just becoming anxious. We all want this economic slide to be over with and have arrived at a point where they are ready to move on. Perhaps sell here and buy something in a warmer climate, or in an area where prices have taken a real dive. That’s an entirely plausible reason. I know of a number of people who are looking at the Carolinas or Georgia or Florida. Then there’s the other direction. We’ve lost several Chathamites to the great (but cold) state of Maine.
You can reach me most hours of most days in one of the following ways:
Mail: John C. Ricotta & Associates
1181 Main Street
Chatham, MA 02633
E-mail: al@ricottarealestate.com
or: alcurt@comcast.net
Office phone: 508-945-5000 x 16
Home phone: 508-430-0616
Cell phone: 508-237-0998
Enjoy.
I hope to get these to you on a more frequent basis, but as always, if you find them intrusive, or just don’t want to receive them, let me know. I hope you’ll find what I say helpful and maybe interesting.
There has been so much change in the last 2 years. It’s staggering! Right now, there are more than 250 single family homes on the market in Chatham alone. In my 21 years, that’s the highest number ever. And I can’t understand why.
There’s a definite dichotomy in that scenario. It’s a fact that Chatham homeowners are, for the most part, pretty solid. Many houses have no mortgage or if any, a small, manageable one. That’s possibly the main reason that Chatham prices have remained higher than most other towns on the Cape. Owners didn’t have to sell. If they were selling, they could keep their house until they got the price they were satisfied with.
That’s a fact. So why, all of a sudden, are here more houses on the market than ever before? Perhaps you, the typical Chatham homeowner can tell me. I’ve heard of some instances where owners had to sell because of traumatic changes such as job loss, but can this sudden spurt in the number of houses for sale be att1ributed to job
loss? I certainly hope not. I think people/owners are just becoming anxious. We all want this economic slide to be over with and have arrived at a point where they are ready to move on. Perhaps sell here and buy something in a warmer climate, or in an area where prices have taken a real dive. That’s an entirely plausible reason. I know of a number of people who are looking at the Carolinas or Georgia or Florida. Then there’s the other direction. We’ve lost several Chathamites to the great (but cold) state of Maine.
You can reach me most hours of most days in one of the following ways:
Mail: John C. Ricotta & Associates
1181 Main Street
Chatham, MA 02633
E-mail: al@ricottarealestate.com
or: alcurt@comcast.net
Office phone: 508-945-5000 x 16
Home phone: 508-430-0616
Cell phone: 508-237-0998
Enjoy.
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