Blog :: 05-2017

Spring has Sprung!

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The time has finally come to bid winter farewell and welcome spring with open arms. A switch in seasons is the perfect opportunity to step back and get a pulse check on the state of the housing market. Good news – we’ve done our research and want to share some key findings with you:

It’s not just the weather that’s heating up! With scarcer home listings and high buyer demands, there’s expected to be hot competition in the market this spring. Why? According to a recent REALTOR Magazine article there are three main contributing factors that have Americans flocking to housing: an improving job market, growing consumer confidence and the threat of rising mortgage rates.

Since November 2016, the 30-year fixed-rate mortgage has risen by more than half a percentage point. The Federal Reserve’s recent vote to increase its benchmark interest rate by a quarter point has many thinking there are more increases ahead. For buyers, this is instilling a sense of urgency, and for the industry, high housing demand. As quoted recently via CNBC, Redfin crunched the numbers: according to Redfin’s recent Housing Demand Index (based on Redfin customers requesting home tours and writing offers,) homebuyer demand was up 23 percent compared to January 2016, led by a 26 percent annual increase in homebuyers requesting tours and an 18 percent increase in buyers making offers.

As an agent, how can you prepare? Here are some tips:

  • Do some spring cleaning – Busy season can be a lot less daunting when you’re prepared. Organize your work space, update any outdated materials and get rid of anything unnecessary. Do the work ahead of time for smoother sailing once the winds pick up.
  • Educate your clients – No one knows the market as well as you do. Being the expert, take the time to inform home buyers and sellers on the state of housing and the best next steps for them.
  • Don’t assume – Just because buyer demand is high doesn’t mean every house that hits the market will be an automatic sale. Remind your clients to take the time to think through the process, from listing price to general aesthetic, to ensure the most successful transaction.

Do you have any tried and true tips for conquering the spring housing market? Share them in the comments below!

 

Original article here

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    Cape Cod is a sellers market!

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    BARNSTABLE – The Barnstable County Register of Deeds reports that real estate sales volume and total value dropped in April, but are still up for the year to date.

    The volume of real estate sales was down 6.7 percent from April of 2016 and the total value of sales was down 2.3 percent over the previous year.

    The median individual property sale value was up 4.2 percent from April of 2016.

    “It doesn’t always correlate – value and volume – but we had a little uptick in value which is going along with where we have been moving on the positive side on individual sales value,” said John Meade, the Barnstable County Register of Deeds. “Volume has been up and down though.”

    For the year to date the volume of sales is up 3.5 percent over last year and the total value of sales is up 4.5 percent. The individual sales value is up 7.6 percent.

    “We’re moving in the right direction overall and that’s an indicator of where things stand,” Meade said. Month to month totals can vary based on the number of business days in the month compared to the year before. Those kind of things happen.”

    Meade said the positive trends are that the volume, value and individual sales value are up for the year.

    The median sale price for the month of April was $350,000.

    “We’ve been in the mid-$300,000 range fairly consistently for the last seven or eight months,” Meade said. “We’re starting to see values overall working in the right direction if you are a seller.”

    The amount of mortgage activity fell 10.6 percent from levels in April of 2016 and is down 1.9 percent for the year to date.

    May is a busy month historically, especially for 2nd home buyers.

    “We’ve got a lot of business days in May so it’ll be interesting to see what happens there,” Meade said. “It’s going to be big for us if we have a strong May and it’s going to be an indicator that the year should be pretty good.”

    By BRIAN MERCHANT, CapeCod.com NewsCenter

    http://www.capecod.com/newscenter/real-estate-volume-and-value-dip-in-april-still-up-for-year/

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      What's Happening on Cape Cod? May Edition

      Cape Cod is one of the most popular tourist and vacation spots around. There's plenty of events and functions happening to keep you entertained! The May 2017 lineup consists of the following: 

       

      May 5th-7th
      The 31st Annual Brewster in Bloom Festival.
      Call 508-896-3500 or visit http://bit.ly/2qJI6mN for more information.  

      Enjoy the 2-days fine arts and crafts show, arts and antiques excursion, closest to the pin contest, annual 5-k Bloom Run, Kid Fest at Drummer Boy Park and the town parade. Businesses hold open houses with special offers. Most events are free.

       

      May 6th 
      Trad-Stroll Woods Hole.
      Call 508-548-2892 or visit http://bit.ly/2pLK3C3 for more information. 

      The Stroll begins at Community Hall with a lecture and demonstration on Morris Dancing.  It then shifts to the top of Water Street and moves along through the village where you will hear a dozen traditional music groups play.  Have a bite to eat then end the day taking to the floor of the Community Hall to twirl to the music of the Woods Hole Folk Orchestra.  All music is free. The schedule of performances will be on posters and post cards around town and available at the event.  

       

      May 17th - 21st
      Nantucket Wine Festival, Nantucket Island
      Visit http://bit.ly/2qwGH6L for more information. 

      Located on the island of Nantucket, this boutique experience of world class wines and award winning food will forever change you. Over the past 21 years, the Nantucket Wine & Food Festival has become one of the most celebrated wine and food events in the country.  

       

      May 26th - June 4th
      Rhododendron Festival, Sandwich 
      Visit http://bit.ly/2paYwU7 for more information. 

      Thousands of world-famous rhododendrons in over 100 varieties and an explosion of color cover 100 acres with spectacular blooms. Enjoy a peaceful walk surrounded by walls of flowers, learn more about Heritage’s storied rhododendron legacy, participate in activities with horticulture experts, and take one of these signature plants home with you from the special plant sale.

       

      May 28th
      Annual Johnny Kelley Race, Hyannis
      Visit http://bit.ly/2pKVpEc for more information.

      Join us on Sunday, May 28th for the annual tribute to Cape Cod's Marathon Man, Johnny Kelley. Although Johnny's name is synonymous with the Boston Marathon, he also represented the United States as a member of three Olympic teams. At the young age of 18 in Nazi Germany, he ran with another legend, the great Jesse Owens, in the 1936 Summer Olympics in Berlin. He was the only American to cross the finish line, finishing the race in 18th place.

       

      May 31st - June 6th
      Wellfleet Restaurant Week
      Visit http://bit.ly/2qJXwaI for more information

      Visit Wellfleet from Wednesday May 31st through Tuesday, June 6, 2017 and experience the unique specials that participating restaurants are offering. Participating eateries are free to choose their own "restaurant week special" - from prix fixe menus, to evolving nightly specials to entering to qualify for special rewards.  Please check this website frequently or call participating establishments to learn more about their individual restaurant week special. Come try a new restaurant or enjoy one of your favorites.