Nadine Krasnow, CRS
Joined about 180 others yesterday for the Main Street Mile in Falmouth, from The Quarterdeck, down Shore St. to the Beach House at Surf Drive. Such a family-friendly race! I definitely saw three year olds, and possibly some twos. For me it was a chance to run a race again, which I haven’t done since the Falmouth Road Race four years ago. Thanks to the Falmouth Track Club for organizing such a fun event!
Coincidentally, this week I’ve also seen a few homes that offer solid income potential. Each is a little different, but here they are:
#21606888
25 Wohelo Drive, North Falmouth
$448,000
This is a younger split entry in North Hill, a favorite family neighborhood. The lower level is an illegal apartment currently lived in by an older parent. It would probably rent for $1000-1200 a month. The downside is that it is open to the rest of the house, and the house itself needs some sprucing up. This would be ideal as an in-law, or separate quarters for someone connected with the owners.
#21606746
28 Heather Lane, North Falmouth
$459,900
Also in North Hill, this is a 2,306 s.f. Colonial with a completely separate first-floor apartment, currently occupied by an active single woman in her 60’s who would like to stay. She pays $1200 a month rent, so this house will appeal to anyone who wants to reduce living expenses substantially while still retaining privacy and having comfortable spaces of one’s own. I picture this as a second-home owner, here on weekends. What a great opportunity!
#21605156
49 Silver Beach Avenue, North Falmouth
$549,000
Here’s your grandparents’ beach house, complete with natural wood beadboard, narrow staircase and hallways, vintage kitchen and baths, and entry through the sunporch that runs the length of the front of the house. No central air, but New Silver Beach is a quick walk, and the house generated $20,000 from one July 1 – September 1 rental this summer. That’s a pretty good return on investment, one that’s hard to match with most investments!
I spent a good part of this past week with a couple from Florida, here to buy a summer home. Much to the woman’s surprise, they flew home today with the most charming house just off Sippewissett solidly under agreement to them, and with the inspection accomplished as well.
How’d we do this? To begin with, they’ve been online for what seemed to be 18 hours a day for at least the last month. After basic familiarization with neighborhoods and prices, it stopped being productive, because you really just have to put your feet on the ground and see the neighborhoods; assess your reaction; evaluate your priorities (in this case, kayaking vs. biking; away from town vs. being near downtown); and figure out what trade-offs you’re willing to make. Because there are always trade-offs!
The first day, we looked at 20 homes, either by drive-bys or going inside. It was an exhausting day, but by the next day, there were only a few homes that made the short list to see again. Here are some:
#21606802
211 Great Bay Street, Falmouth
$975,000
What a sweet house, so “beachy” and with glorious views! But on the second day, surrounding homes not consistent with the quality and value of this one took it off the list.
#21605741
55 Seashell Lane, Falmouth
$900,000
This house is so similar to mine that I’m positive it was designed by Walter Yarosh, the same Falmouth architect who designed my house. (He was busy in the 90’s; I keep seeing variations on the theme.) This one is still original, but because I’ve just done a major renovation that included reconfiguring some spaces, it was easy for me to help my buyers envision what the house could be. The setting, directly on Great Pond and facing west; and with a neighborhood dock, is superb. But in the end, the prospect of managing a project of this scope long distance also took this one off the list.
#21607478
11 Place Road, Falmouth
$650,000
This is the one that rose to the top. The location is superb in every way, with a neighborhood trail to the bike path; a short half mile to glorious Woodneck Beach; and less than a mile to the activities and pleasures of Main Street, Highfield Hall, and Beebe Woods. The price was fair, and because the buyers had seen so many homes, they had a solid sense of value and understood that. The space was just right, not too big but not too small. The trade-off is that yes, it does need a new kitchen and the addition of central air. The buyers would have loved to have found a house that had these already, but they have a contractor they trust, and once the work is done, they’ll have a wonderful Cape house (with a spectacular kitchen!) in exactly the spot they wanted. A great week!
Haven’t run across an interesting place to share for a while, but this caught my eye yesterday. Anyone know where – and what – it is?
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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]
