Stay away if you can!
Listings Wanted
As I mentioned, the market changed quickly and drastically a couple of months ago. As the chart above shows, there were 51 fewer homes for sale in March than there were in March 2014. This occurred because houses that had been on a long time were sold and were not replaced with fresh inventory at a sufficient rate. Currently we have 279 houses on the market, not enough to satisfy the spring surge of buyers, which makes the process very discouraging. My own experience as a buyer is typical.
And I’m sold out. This is the first time in a very long time, and truthfully, I’m not a fan. So if you or anyone you know is thinking about selling a home, please think of me. The seller’s market is just what it says: very favorable for sellers. The prices are strong, and an accepted offer will happen quickly. None of us have a crystal ball, so there is some urgency to the concept of “no time like the present”.
If your concern is that okay, you can sell, but will you find anything to buy in time, Claudette Vickery from Santander Bank has a loan that functions like bridge loans used to. It allows a buyer to commit to a purchase without having a home sale contingency before the present home is sold. It’s a fabulous product in this market.
I welcome hearing from you!
Pah-tee, Pah-tee! Part 1
Lately, it seems that I’ve been seeing a lot of houses that make me think, “Wow, what a great party house!” Below are some.
#21501461
59 Old Menauhant Road, East Falmouth
$799,900
This house captivates! Tucked away off a small dirt road, with over two acres directly on the water, it’s been completely gutted and renovated in the last couple of years. Inside and out, there’s nothing disappointing about this house, and the 700 feet of wrap-around deck will easily accommodate however many guests you have.
#21501812
36 Seascape Lane, North Falmouth
$825,000
Tied for first place for my personal favorite house of the week, this 3-bedroom, 3-bath, 2,592 s.f. home has been totally gutted and renovated recently. I love everything the sellers did! The floor plan has generous, open living/dining/kitchen space that flows onto a wrap-around deck that easily accommodates a lot of people. The bedrooms are small, but the Cape isn’t about sleeping. This house isn’t on the water, but is in Seascape, a highly desirable North Falmouth neighborhood with a private beach.
The Other Ones That Got Away
#21500128
51 Carlson Lane, #10, Falmouth
$439,000
I bid on this one without seeing it. Would you do that? But from my familiarity with other units in the complex, and the photos in MLS, I had a good idea what it was like. I was in Florida, so I did my due diligence online and determined what a fair price would be, given the recent sold comps. Submitted the offer; rejected again. A week later, I resubmitted. You know what happened. It’s still available.
#21501096
4 North Bournes Pond Road, East Falmouth
$549,000
I like this house because it has a nice, open floor plan and is reasonably young. It’s on a great cul-de-sac that comes with a pathway to the kayak launch on North Bournes Pond. And it’s a straight shot to Menauhant Beach. My first offer, a good one, was refused. A week later, I resubmitted it. Refused again. Still on the market. Betcha it sells at or below what I offered.
The Ones That Got Away
Once I knew that my condo was really under agreement, I went overdrive into “search” mode. Even with a three-month rent-back, the clock had been ticking, and I was very mindful of that. I started making offers almost every day, but none were accepted. (And they were good offers! But this is what happens in a seller’s market.)
Here are a few:
#21502276
6 Fairway Lane, West Falmouth
$175,000
Over the years I’ve toyed with the idea of building a home and have gathered a decent library of source books and plans. During my recent intense search, a parcel came up in West Falmouth that I thought was pretty nice. I made an offer. It was verbally accepted on a Friday. By Monday, because it was being sold as part of a probate estate, there was an unsettling affidavit I would have to sign. It stated that the land could be sold at any time up to closing to a buyer with a “better” offer. I felt that was more of a risk than I should take because in order to close, I would have to spend thousands of dollars on engineering and permits. I would lose that money if it sold to someone else.
#21502374
45 Highfield Drive, #5, Falmouth
$349,000
I saw this almost the moment it came on the market, but dismissed it because I prefer larger condominium associations; end units with exposures on three sides; and one-floor living. However, three days later, when the pickin’s were so slim, I decided to take another look. This time, the outstanding location in the middle of downtown, and on the same street as Highfield Hall and the bike path, together with a reasonable asking price, overcame my initial objections. I put in an offer – but so did three others. One of them, not me, will be the new owner.
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