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Nadine Krasnow, CRS


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Seller Blip, Agent Blap (Part 1)

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Hi again! We had a bit of snow this week, but nothing that slowed the hot market we’re experiencing at the moment.

It’s that time of year when we have our annual upswing in sales, what I’m calling the “seller blip”. It’s the best time of year by far for sellers, and this year it’s even better, since inventory of homes for sale in December was down by a whopping 44% from December of 2015! (Click here to see the Local Market Update.)

And pending sales for single-family homes were up by 109.1%, a really stunning number. My last three sales were new listings for me, but homes that had been listed for 18-24 months with two other agents, with no offers. All quick sales for me, the one last week just two days.

The condo market is equally strong, with pending sales up 120%, closed sales up 166%, and inventory of homes for sale down by 42.9% over the prior December. The takeaway? It’s a great time to sell! (I welcome all leads for listings.)

 

Holiday Real Estate Market

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It’s been a largely uninspiring month in the world of Cape Cod real estate, and I haven’t seen many homes that I’m excited to write about.

Many of my colleagues believe that nothing much happens in November and December, and they recommend withdrawing listings from the market during this time.

I think this is a big mistake. Every home needs only one buyer, and none of us know when or from where that buyer will show up. If a home is not on MLS, it’s invisible. You can’t sell a house if no one knows it’s for sale!

Twice during the last five years, I’ve been #1 in sales in Falmouth during the first quarter of the year (and currently #2 in Bourne and #7 in Falmouth/Bourne for dollar volume since September, out of almost 300 agents). This represents the transactions that come together in November and December. Although I like to think that I achieved this success because I’m so brilliant at my work, it’s really probably because the majority of the other agents have just packed it in and are on an extended vacation. They’ve left the market wide open for me to come in with my wonderful buyers who make great deals. I’ve sold on Christmas Day, and also during the week between Christmas and New Year’s. You can be sure that my clients’ homes are visible on the internet, at open houses, and in big ads in the newspaper. Just in the last two weeks, I’ve had two great offers accepted.

But there are not a lot of fresh new listings to be excited about. Just one. Stay tuned for my next blog post to read all about it!

Local Market Snapshot

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local market report
Click to download pdf.

Weird market! Looks great: pending sales up significantly (although not so for closed sales), listings down. You’d think it’s a sellers’ market, right? But it isn’t, quite. My buyers are buying, but my traffic from co-broker appointments at my listings is, well, listless, to tell the truth.

On the one hand, this enables me to sell directly, with no cooperating agent, a plus for all parties. On the other hand, why are there so few co-broke showings? My listings are wonderful homes, appropriately priced. Apparently very few of my colleagues have many buyers – and this is the one unmeasurable statistic that affects the graph above.

Digging deeper, I also wonder if too many agents have just abandoned their role of actively selecting appropriate homes to show their buyers, and are showing just what the buyers select. Most of the buyers are looking online, which is a good place to start, but has limitations. Agents, on the other hand, should have been inside the home during MLS tour, and should be in a good position to encourage certain homes to certain buyers because of what they KNOW.

No definitive answer to this conundrum, but for sure, the market isn’t only what the statistics in the graph above indicate.[/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

High, Low, and In Between – Part 3

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This is Part 3 of my top picks of some great homes that have recently come on the market.

#21604613
$900,000
 

 

I was looking forward to seeing this house because it is on Wings Pond, but when I got there, although the house has lots of glass along the back and a big deck, the leaves on the trees obscure the view, so this is probably a great view in the winter only. Good floor plan, with first-floor main bedroom suite, and the finished basement, and a two-car garage; but also sporting that Florida ambience.

#21604365
$2,189,000

 

Now we hit the big time in terms of price. This is really a beautiful home – young and well-designed, built, and decorated. But there’s a big new house on stilts going up across the street that is smack-dab in the middle of what used to be the view from this house.

#21504960
$2,200,000

 

This is in another one of our secret little neighborhoods. Black Beach is a private continuation of public Chapoquoit Beach, so it’s sandy, gorgeous, and has those spectacular Buzzards Bay sunsets. The neighborhood consists of small, windy dirt roads that have been here for 100 years. It’s really charming! This is an older home that’s been redone, and has charm, space, comfort, and location.

#21605085
$2,500,000

 

Vernon Ave. is classic Falmouth Heights, and this is a classic Falmouth Heights beach house! Set high on a hill, the views of Vineyard Sound and the Vineyard are all-encompassing. With 5 bedrooms and 4.5 bathrooms, it will graciously accommodate most buyers’ needs. When you add in the wrap-around deck, bow windows, beautiful hardwood floors, a balcony, and an outstanding renovation that kept the provenance of the house uppermost, this home is a joy to see and to be in. If I win the lottery, this is the one I’ll buy!

#21605128
$4,995,000

 

Carey Lane is yet another private, exclusive Falmouth neighborhood. Perched high above Buzzards Bay and adjacent to The Knob, there are probably only about 20 homes here, most with stunning west-facing views. I’m guessing this was the original home on Carey Lane, because it is quite a bit older than the others, and it shows its age. Rooms are small, floor plan not what we look for today, and the floors are uneven. It’s not out of the question that even at this price, the house could be a “knock down” because the setting is exponentially stunning. The one thing I would save is the cutest “she-shed”. Click on the picture above to see it.

 

When Is Spring Not the Spring?

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Falmouth bike pathI hope you’ve been enjoying this run of nice weather! March was really lovely, and I got a lot of major re-landscaping done, which benefited from all the rains in April.

May has been prime for biking – not too hot, not too cold, just right! Whenever I can, I combine errands, work, and biking – it really makes everything so enjoyable. Biking to vote was a particular pleasure. I’m also biking when I have enough time to exercise class at 241 Fitness and to yoga at the new The Yoga Collaborative in North Falmouth. The one time I biked to an actual showing of one of my listings, honestly I practically heard angels singing.

With Memorial Day Weekend upon us, the season begins. This is not necessarily the real estate season, however. Traditionally, our season is February, March, and April, when people commit to finding a house for the summer. Each subsequent quarter is usually a little bit slower, culminating in the 4th quarter being the slowest. Meteorological spring is not real estate spring.

2015 was an anomaly, when the spring season was great and it accelerated from there. So my 4th quarter was probably the best I’ve ever had. My business did reflect the general market; Cape Cod real estate for the last year and a half has been robust. I sense things slowing down now, and we’ll see if we’ll settle into a more normal market.

Falmouth Fine Properties  Nadine Krasnow, CRS

P.O. Box 664, Falmouth, MA 02541

Office: 508-457-7552 • Mobile: 617-921-7552

Email: capecodnadine1@gmail.com

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