Lots to do this month on the Cape! Here’s what’s going on at the museums:
Real Estate Chocolate in a Sea of Vanilla
#21609654
19 Racing Beach Avenue, Falmouth
$1,600,000
THIS is the proverbial real estate chocolate in a sea of vanilla (although truth be told, I prefer vanilla to chocolate, so there goes the snappy cliche)! This listing is a dream, and actually fairly priced, considering it includes a buildable lot, which is probably worth at least $500,000. Both the home and the lot have water views.
The house is dated, and has low ceilings, which you can’t really do much about unless you just blow the house apart and start over. But I would work with what’s there, and capitalize on the vintage charm. I think it could be enchanting! With a first floor owners’ suite, and 5 more bedrooms upstairs (and 3 bathrooms), the space is nicely arranged. There’s a separate garage, with space above that as well.
And then there’s that buildable lot…a rare, rare opportunity. If I had the money – or a partner with the money – this would be an outstanding opportunity to build a fabulous home in a gorgeous setting, and to finance most of it with the “flip” after doing some limited work to the existing house and then selling it. The immediate $$ upside would be most unusual. The new house, probably costing $1,000,000 – $1,500,000 (including land), would be immediately worth $2,500,000 – $3,000,000. That’s a profit of at least a million dollars. I don’t know where else that kind of return is available.
Holiday Real Estate Market
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!
Words to Live By
Seen in the window of Vagabond View.
West Falmouth Library House Tour
West Falmouth Library House Tour Sunday had lots of enthusiastic participants as always. I was a docent at 101 Old Dock Rd. Rita Pacheco staged it for the tour, with thoughtfulness and elan. A feast for the eyes and senses! Kudos to the committee and volunteers who work so hard to make this annual event such a success!
Looking out the window of the historic Mill House toward the ice-encrusted harbor, during the West Falmouth Library House Tour.
The historic Mill House on West Falmouth Harbor. In 19 years have probably driven by it a couple of thousand times, and had no clue how charming it was inside. Not much updating, and so very captivating!
This pianist was at the Wild Harbor Rd house. Musicians were at all the homes, the library and church. So many talented people in our community who share generously!