Steve Clay's Cape Cod Real Estate Blog This blog provides both current and prospective Cape Cod homeowners with essential information about the real estate market on Cape Cod with particular emphasis on the upper Cape towns of Bourne, Falmouth, Mashpee, and Sandwich. http://www.steveclaycapecod.com/blog/60766A4F-C57E-47AE-943B-545BB4B776D2/Steve-Clay's-Cape-Cod-Real-Estate-Blog Sunday, May 01, 2011 10:38:00 AM Steve Clay Copyright en-us RLS2000.com steve@steveclaycapecod.com (Steve Clay) support@rls2000.com (RLS2000.com inc) Cape Cod Condominium condos cottage empty nesters Falmouth first-time buyers first-time homebuyers homes NAR National Association of Realtors real estate second homes statistics vacation vacation homes Cape Cod real estate Falmouth homes Mashpee homes Bourne homes Sandwich homes A Different Kind of Real Estate-NOT on Cape Cod The countdown is on for a Bucket List Trip to the Dominican Republic.  If this photo represents your image of Santo Domingo, then you may have seen this part of the city that brings in revenue and work opportunity for the people of DR.  But this is not the part of the city where we will be staying.  (I gather our $20/night accommodations will be something short of the Hilton seen here).
 
As a former YMCA CEO currently working as a Realtor, I feel fortunate that my wife Mary Beth and I have been given the opportunity to join in on this trip. We will be part of a group of 15 volunteers from the New England YMCA Alumni whose mission is "to build a home" for a family from the part of the city that most tourists would probably choose to avoid.  We are really looking forward to it!  While the cement block structure we plan to build may not include granite countertops (unless a piece of granite actually serves as the counter) or high-end finishes of any kind, we hope that it will serve as a better refuge from storms than the home in which the family currently resides.
 
 
The trip will also allow us to visit the YMCA at work in the Dominican Republic, and we hope to grab a few shots of the ongoing programs and of the people who we hope enjoy improved spirit, mind and body through the Y's mission.
 
One of my "assignments" on this junket is to take some photos to document our efforts, especially to share with some donors who couldn't make the trip but wanted to help with materials, etc. I certainly have taken quite a few pictures of homes in the past 5 years, so it will be a "busman's holiday." Here's hoping that our subject property looks good enough for public consumption when we are finished and (more importantly) that the family is proud of their new "home."  I look forward to sharing an update when we return June 2nd.  
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Saturday, May 19, 2012 6:35:00 AM B21EEF4E-3BC5-44DD-803D-A3CCE4E87814 http://www.steveclaycapecod.com/article/B21EEF4E-3BC5-44DD-803D-A3CCE4E87814 steve@steveclaycapecod.com (Steve Clay) http://www.steveclaycapecod.com/article/B21EEF4E-3BC5-44DD-803D-A3CCE4E87814#comments real estate charitable work YMCA retirees in action AYR YMCA in Santo Domingo
Forget the Groundhog...Spring is here on Cape Cod! Wow!  Today is Saturday, and I didn't have any Open Houses planned, because my team was happily occupied with buyer clients all day.  All of us remarked at the traffic of buyers coming in and out of homes...and they were appointments, not Open Houses.  Tomorrow we have three advertised Open Houses, but because of the number of people looking, we are tempted to open one of our latest properties which is located in a prime neighborhood.  Do you think the mild winter has brought about an early spring real estate market?  We think so.
 
So, what does this mean for you?  If you are a buyer, you might want to schedule your spring buying trip now.  We still have lots of inventory, market-adjusted prices, and mortgage providers offering reasonable rates.  If you are a seller, though, you might have to kick your gears into overdrive.  It might still be too cold to do any exterior painting, but you may want to consider clearing the closets, sprucing up the hardwood floors, and de-cluttering, de-personalizing, and staging your home for sale.  Bright and immaculate kitchens and baths sell homes more quickly. Not sure just what to improve? Call us and we'll do our best to help. 
 
You might want to check out this page of home preparation tips for sellers:
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Saturday, February 18, 2012 5:27:00 PM F29DD1FB-2BBD-42BC-8ABD-D32261964FA9 http://www.steveclaycapecod.com/article/F29DD1FB-2BBD-42BC-8ABD-D32261964FA9 steve@steveclaycapecod.com (Steve Clay) http://www.steveclaycapecod.com/article/F29DD1FB-2BBD-42BC-8ABD-D32261964FA9#comments Spring real estate market real estate Cape Cod real estate Falmouth MA homes Cape Cod homes for sale buyers sellers the real estate market
Two "Fantastick" Weekends in Falmouth by Maxwell Carey   
If you are around Falmouth the next two weekends (Think...Valentine's Day) then Highfield Theater, located at 58 Highfield Drive in Falmouth, should be a stop on your list!  The Falmouth Theatre Guild's production of the long-running musical  The Fantasticks  is scheduled for the weekends of Feb. 3-5 and Feb. 10-12.

Here's the synopsis:

The Fantasticks is a riff on the Romeo and Juliet story, with a musical twist. The show is narrated by the character of El Gallo, who steps in and out of the story itself.  Two Fathers who live next door to one another have agreed that their children should marry. Knowing their children would never agree to a pre-arranged engagement, though, the fathers have pretended to feud with each other. They've even built a "wall" (played by "The Mute," a dancer) to indicate that their children are never to meet. Naturally, The Boy and The Girl fall in love and plan to elope. To seal the deal, the two fathers hire a seedy acting troupe to pretend to kidnap the Girl. A very silly "abduction" ends with the Boy apparently rescuing the Girl. The two embrace under a perfect moon. Act 1 ends. As Act 2 begins, the characters begin to notice that all is not as perfect during the day as under the moon. The Fathers squabble, and the Boy and Girl begin to wonder whether they are really ready for marriage. The Boy takes off to seek his fortune, while the Girl daydreams about the handsome El Gallo. El Gallo shows The Girl what the real world is like, and offers her a life of dissipation.

In the end, the Boy and the Girl recognize that their love for one another is most important, and they reunite.

Check out a short promotional video at this link:  http://vimeo.com/35672578

Tickets

 $16 for adults

 $14 for students and seniors

 Dates and Times

Friday 2/3                   7:30pm

Saturday 2/4               7:30pm

Sunday 2/5                  2:00pm

Friday 2/10                 7:30pm

Saturday 2/11             7:30pm

Sunday 2/12                2:00pm

 

 

 

 

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Monday, February 06, 2012 9:58:00 PM 2FC9CE05-5A77-4160-B908-DBAE2BA473A9 http://www.steveclaycapecod.com/article/2FC9CE05-5A77-4160-B908-DBAE2BA473A9 steve@steveclaycapecod.com (Steve Clay) http://www.steveclaycapecod.com/article/2FC9CE05-5A77-4160-B908-DBAE2BA473A9#comments Falmouth Falmouth Real Estate theater events Cape Cod events in February Falmouth news things to do in Falmouth
Holiday Spirit Comes to Falmouth

The Holiday Spirit Comes to Falmouth

by Maxwell Carey

Thanksgiving has come and gone, which means it is time to kick off the Christmas season! This weekend in Falmouth, there are plenty of activities and events to help get you in the holiday spirit.
 
The 2011 Falmouth Holidays by the Sea Weekend will keep you busy, but there are also other events around town that we highly recommend.
 

Falmouth Holidays by the Sea Weekend Events:

Friday, December 2nd
5:30 PM
Holiday Carol Sing at Nobska Lighthouse
Festive seasonal singing followed by hot chocolate and cookies.
 
Saturday, December 3rd
8:00-9:30 AM
Family Pancake Breakfast and Parade Raffle
Takes place at Morse Pond School on Jones Road. Enjoy face painting, a pancake breakfast and
family raffle with chances to win great prizes!
 
11:00 AM
Seafaring Santa Sails into Falmouth
Immediately following breakfast, head to Falmouth Inner Harbor behind the Flying Bridge Restaurant
and welcome Seafaring Santa into town! The Falmouth High School Choir will regale you with carols.
 
9:30-11:30 AM
Nobska Lighthouse Public Viewing
Santa will be arriving at Noon!
 
7:00 PM
Annual Lighting of the Falmouth Village Green
The Falmouth Brass Choir will lead the caroling before a special visit from Santa!
 
6:00-8:00 PM
Main Street/Queen's Buyway Stroll
With the lighting of the Village Green taking place, many of the shops on Main Street will be open
until 8 PM. Stroll the street and enjoy the festively decorated shop windows, holiday refreshments,
and caroling.
 
Sunday, December 4th
12:00 Noon
48th Annual Falmouth Christmas Parade
Parade starts at noon at the Falmouth Mall and proceeds down Main Street to the Village Green.
This is the largest holiday parade in Southeastern Massachusetts with decorated floats, marching bands, live animals, costumed characters and Santa Claus!

What?  There's More?

There are also events taking place not associated with the Falmouth Holiday by the Sea Weekend
that we encourage you to check out below!
 
Cape Cod's Largest Winter Book Sale at the Falmouth Public Library
Thursday and Friday, December 1st and 2nd from 10 AM to 5 PM and
Saturday, December 3rd  from 10 AM to 2 PM
 
The Best Christmas Pageant Ever at the Falmouth Theatre Guild
Friday, December 2nd at 7:30 PM
A great stage production with a great message using some laughs along the way.
All ages will enjoy!
 
FHS Ceramics Exhibit at Falmouth Museum on the Green
Friday, December 2nd, from 3-5 PM
Ceramic visualizations of the stanzas of America the Beautiful
 

Come join in the fun!  If you don't live in Falmouth, come see what living here is all about.

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Tuesday, November 29, 2011 12:23:00 PM 7417BA9F-03D7-4D23-A7A6-8EE9533385ED http://www.steveclaycapecod.com/article/7417BA9F-03D7-4D23-A7A6-8EE9533385ED steve@steveclaycapecod.com (Steve Clay) http://www.steveclaycapecod.com/article/7417BA9F-03D7-4D23-A7A6-8EE9533385ED#comments Falmouth Falmouth Christmas parade family events on Cape Cod Cape Cod real estate blog holiday events
Off the market for the winter?...Maybe not! Should you keep your house on the market during December and January? 
 
There is no doubt that the holidays and harsh winter weather dominate the minds of buyers and sellers from late November through January, and that buying or selling a home often takes a back burner, but statistics show that home sellers have over a 3% better chance to sell in December than in May.
 
The following stats from the Cape and Islands MLS compare active and sold single-family homes listed for sale in Falmouth in December and May of the past year.
 

                                                   December 2010           May 2011

 

Active Single-family Listings                     305                      457

 

Sold                                                         36                        38

 

% Sold                                                  11.8%                   8.3%
 
The answer to that question is: "It depends."  
 
If you (the sellers) have determined that you want to move in the shortest time period possible, then it actually makes statistical sense to keep your house on the market while there is less competition  for your home. Showcasing your home during the holidays (think about glittering lights and compelling scents) might be really advantageous for you.
 
If you have no real time constraints, however, then taking the house off the market and waiting for the active spring market could be the way to go. Your reasons?  You may choose to forego the constant upkeep necessary to present your home favorably to a smaller supply of buyers (who might be tracking in snow)during the hectic days of the holiday season; your home might be a summer home that you would like to winterize and secure to save energy and money; your home might have exquisite landscaping that you know will set your home apart from other similarly-priced homes in the inventory when the trees begin to bud in the spring. 
 
Consider your market, your home, and your own personal time-frame for moving!  A discussion with your Realtor might help you to weigh these pros and cons and help to set up a great marketing plan as you move into 2012!

 

 
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Monday, November 28, 2011 2:35:00 PM 948CAE68-DBF3-4D5E-BB54-0981994C999C http://www.steveclaycapecod.com/article/948CAE68-DBF3-4D5E-BB54-0981994C999C steve@steveclaycapecod.com (Steve Clay) http://www.steveclaycapecod.com/article/948CAE68-DBF3-4D5E-BB54-0981994C999C#comments Cape Cod real estate Real Estate Cape Cod Falmouth MA condos Falmouth MA real estate waterfront condo communities waterfront condos waterfront condominium
Right Price Equals a Quick Sale The condo market on Cape Cod has been very slow, but there is clear evidence that if a unit is in good condition and is priced right, it will sell.

A case in point is a closing that took place yesterday. When I was meeting with the seller about listing her beautiful condo, the seller had a price in mind that was considerably above the fair market value that I had determined. I suggested that she have an appraisal done so that we would have an independent third party view of the property value. Another good reason to have an appraisal done is that there will be a day of reckoning when the bank appraisal is conducted after the home is under contract. No matter how much the prospective buyer loves the home, if the home does not "appraise," there is no sale.

After the appraisal came in, the seller listed the home and priced it accordingly. The condo sold in 65 days at the appraised value to a couple who had been scouting the market for over two years. They knew that the home was priced right and was a good value in this market.

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Saturday, October 29, 2011 9:56:00 AM 3636204E-767D-4A90-8785-E93449F22799 http://www.steveclaycapecod.com/article/3636204E-767D-4A90-8785-E93449F22799 steve@steveclaycapecod.com (Steve Clay) http://www.steveclaycapecod.com/article/3636204E-767D-4A90-8785-E93449F22799#comments Cape Cod Condominium condos cottage empty nesters Falmouth first-time buyers first-time homebuyers homes NAR National Association of Realtors real estate second homes statistics vacation vacation homes
Water (and lots of it!) in a special community Coffee with a View in FalmouthPortBesides the typical association amenities such as snow and rubbish removal and landscaping, FalmouthPort, a well-managed condo community in Falmouth, MA, also offers homeowners a number of amenities that appeal to people of all ages: 4 tennis courts, a heated waterside association pool, community clubhouse, 1.5 miles of managed walking trails, and 2 association docks with deep water access. For my wife and myself, who now live in FalmouthPort, it was the water that drew us in. As I write this I can hear the slight drone of a lawnmower in the background (a clear sign of the weekend to come), but the sounds of ducks, sea birds, and some passing kayakers have created a lovely backdrop for our morning coffee.

To take a short video tour of FalmouthPort, click on the video below.
 
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Friday, July 22, 2011 3:57:00 PM D627F520-78EC-4862-96E0-88DCF6D21BE2 http://www.steveclaycapecod.com/article/D627F520-78EC-4862-96E0-88DCF6D21BE2 steve@steveclaycapecod.com (Steve Clay) http://www.steveclaycapecod.com/article/D627F520-78EC-4862-96E0-88DCF6D21BE2#comments Cape Cod real estate Cape Cod Falmouth MA condos Falmouth MA real estate waterfront condo communities waterfront condos waterfront condominium
March 2011 Real Estate Statistics I thought that you might be interested in some recent statistics that show the current status of both the national and local real estate markets.

  • The National Association of Realtors reports that, nationally, sales of existing homes rose 3.7% in March, but were down 6.3% from March 2010. First time buyers purchased 33% of homes this March compared with 44% of homes in March last year.
  • Also from NAR, existing home sales in the Northeast rose 3.9% in March, down 12.1% from March last year. The median price was 3% lower at $232,900.
  • The Massachusetts Association of Realtors reports that single family sales in Massachusetts were down 22.4% in March compared with March 2010 and median prices dropped 2.3% to $273,474. Condo sales dropped 23.5% in March 2011 compared with March 2010 and median price dropped 8.4% to $234,500.
  • According to the Cape and Islands Association of Realtors, single family sales in Barnstable County in March were down 14.98% and the median dropped 11.73% to $315,016 from March last year. Condo sales dropped 20.75% and the median dropped 14.24% to $198,588.
As you can see, this is still a very challenging market to try and sell a house or condo. Buyers, on the other hand, have a great opportunity to get a beautiful home at a very reasonable price.

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Friday, April 29, 2011 5:00:00 PM 88148A9E-30F0-40DF-8F53-03739F4BC63E http://www.steveclaycapecod.com/article/88148A9E-30F0-40DF-8F53-03739F4BC63E steve@steveclaycapecod.com (Steve Clay) http://www.steveclaycapecod.com/article/88148A9E-30F0-40DF-8F53-03739F4BC63E#comments Cape Cod Condominium condos cottage empty nesters Falmouth first-time buyers first-time homebuyers homes NAR National Association of Realtors real estate second homes statistics vacation vacation homes
New England Boat Show Has All the Latest Toys I drove up to Boston to go to the New England Boat Show at the Boston Convention and Exhibition Center on Tuesday afternoon for two reasons.
 
The first reason is that it is always fun to see all the new designs and all the new technology that is available. Every service that a boater would want is also available.
 
The second reason was to distribute flyers touting an open house at a beautiful waterfront home that any boater would like. After all, what good is a new boat if there isn't a dock to house it?
 
The Boat Show will run through Sunday, March 7 and it is well worth the trip.
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Wednesday, March 02, 2011 10:54:00 PM 83A71A82-E67F-44A5-9686-7BFEA397DA61 http://www.steveclaycapecod.com/article/83A71A82-E67F-44A5-9686-7BFEA397DA61 steve@steveclaycapecod.com (Steve Clay) http://www.steveclaycapecod.com/article/83A71A82-E67F-44A5-9686-7BFEA397DA61#comments boats yachts Cape Cod summer homes vacation homes sailboats Falmouth Mashpee
Market for Vacation Homes Going Up Wall Street Journal reported recently that the sales of vacation homes across the U.S. soared in 2010. The article said the increase was due to deep price discounts, cash purchases, and buyers' rising stock portfolios.

According to the National Association of Realtors, one in 10 real estate sales in 2009 was for the purchase of a vacation home. The statistics for 2010 will not be out until March, but that ratio is expected to remain.

Cape Cod was highlighted in the Journal article as one of the vacation areas where both the number of sales and the average price both increased. Cape Cod's sales were up 9% from 2,832 in 2009 to 3,088 in 2010, while prices rose 7%. Needless to say, this is good news for Cape Cod homeowners.

In spite of the positive news for sellers, it is still a buyer's market on Cape Cod. The large inventory, historically low interest rates, and a large number motivated sellers mean that there are many good values to be found. ]]>
Saturday, February 05, 2011 1:10:00 PM 1FF47604-EEA8-48FE-8384-B21BD01828FD http://www.steveclaycapecod.com/article/1FF47604-EEA8-48FE-8384-B21BD01828FD steve@steveclaycapecod.com (Steve Clay) http://www.steveclaycapecod.com/article/1FF47604-EEA8-48FE-8384-B21BD01828FD#comments Cape Cod Condominium condos cottage empty nesters Falmouth first-time buyers first-time homebuyers homes NAR National Association of Realtors real estate second homes statistics vacation vacation homes
When will the market regain strength?
  • What needs to change before the real estate market really regains            strength?   

    It's all about jobs. Jobs. Jobs. Jobs. If people are out of work, they cannot pay mortgages or buy homes.

     

    Right now, large American companies and banking institutions are sitting on billions of dollars in cash. The businesses have not been re-investing in their own growth and hiring new employees because of the uncertainty in Washington. The unknown financial implications of the Finance Reform Bill, the Universal Health Care Bill, and the long-term debt from the government's stimulus programs are keeping these businesses and their cash on the sidelines. This does not help unemployment numbers to drop. 

     

    For some of the same reasons as well as the increased scrutiny of loan practices, bank financing has been incredibly difficult for both home buyers and small businesses. During 2010 it was nearly impossible for small businesses to get financing to grow and expand. Since small companies are a major source of new jobs, the inability to get funding is also adding to the country's slow economic recovery.

     

    Finally, one negative factor to watch is the "shadow" inventory of homes. Inman News recently noted CoreLogic's reporting that the "shadow" inventory of homes likely to be repossessed or already foreclosed but not yet on the market reached 2.1 million units in August 2010, up from 1.9 million units in 2009.  Because home sales have also slowed, that represents 8 months supply, up from 5 months one year ago. Adding the 2.1 million shadow inventory to the 4.2 million homes already on the market causes the total supply of homes to reach 23 months of inventory. A large inventory means that there will be continued downward pressure on prices.

     

    RECAP: We have been watching the real estate market fall for the past five years and consumers are looking for some relief. Relief is in sight; it's just not around the corner. Prices may fall a little and climb a little, but the market will stay flat. Expect the real estate market in 2011 to be very similar to 2010. The inventory will remain high, financing will remain tough to get, and interest rates will go up but will still be historically low. 

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Sunday, January 16, 2011 9:16:00 AM 5EB2E495-4EBB-4FF0-8780-86411DED7E64 http://www.steveclaycapecod.com/article/5EB2E495-4EBB-4FF0-8780-86411DED7E64 steve@steveclaycapecod.com (Steve Clay) http://www.steveclaycapecod.com/article/5EB2E495-4EBB-4FF0-8780-86411DED7E64#comments real estate market Cape Cod homes condos Falmouth Cape Cod real estate
When will the market get back to normal? The answer to this question is simple: what we are experiencing is the new normal. The real estate bubble of 2004-2007 has burst and the repercussions from that will be with us for some time.

 

Nationally, however, there is some evidence that we have returned to some semblance of normal. Lawrence Yun, the chief economist for the National Association of Realtors presented a graph at its national convention in November. It showed the trend line for home sales since 1990 indicating that with the 2004-2007 bubble removed, we are now back to "normal" growth levels.

 

The general feeling is that we have reached the bottom of the real estate market crisis but it is a "mushy bottom." Just when you think that you are on solid ground, something will change. But the precipitous fall is over.

 

Nationally, the NAR sees prices growing as follows:
      0.78% price increase in 2011
      2.43% price increase in 2012
      3.20% price increase in 2013
      3.69% price increase in 2014
There was no forecast for 2015 and beyond.

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Saturday, January 08, 2011 3:22:00 PM F881A5AB-525C-4A33-AF5E-D1DFAAE35C0F http://www.steveclaycapecod.com/article/F881A5AB-525C-4A33-AF5E-D1DFAAE35C0F steve@steveclaycapecod.com (Steve Clay) http://www.steveclaycapecod.com/article/F881A5AB-525C-4A33-AF5E-D1DFAAE35C0F#comments 2011 real estate forecast NAR real estate trends Cape Cod real estate trends
How is the real estate market on Cape Cod? How is the real estate market?
When will the market get back to normal?
What needs to happen before the real estate
market really regains its strength?
 
As soon as someone finds out that I work in residential real estate, one of the questions above soon follows. I am always happy to answer, however, because I realize that for most people, their home is the cornerstone of their personal wealth and its value has taken a beating over the past several years. What happens in the future is obviously of 13 Farview Lane, East Falmouthgreat importance.
 

In this post and the two that follow, I will attempt to give you the benefit of my experience during this economic slowdown as well as information that I have received from both the Cape and Islands MLS and the National Association of Realtors. I could write volumes but I will do my best to be concise.

 
Today's Question: How is the real estate market?
 
 For me personally, 2010 was a good year. I had 29 sales which placed me at the top in terms of units sold among the Upper Cape Realtors (Falmouth, Mashpee, Bourne, Sandwich) and in the top twenty among Century21 agents in Eastern New England. My sales were evenly split between seller and buyer sides, and the sale prices ranged from $118,000 for a foreclosed 2 bedroom ranch, to a beautiful waterfront home that sold for $1.1 million.
 
Some Good News on Cape Cod

In spite of all the gloom and doom on the national real estate scene, there has been some good news in the Cape Cod market.

 

From January through November, 2,849 single family homes were sold on Cape Cod in 2010 compared to 2,515 in 2009. The average sales price also increased from $441,465 to $474,316. These positive numbers resulted from the government's first-time homebuyer incentive during the first quarter of the year and the return of high end buyers to the Cape real estate market during the second half of the year.

 

Condominiums also fared better in 2010 than they did in 2009. There were 580 sales in 2010 compared to 533 in 2009, and the average sales price rose from $253,188 to $295,810. The good news just mentioned is tempered somewhat by the fact that the number of homes sold in 2010 was 18% below 2006's peak of 4,413 sales, and the average sales price was 15% below 2007's high of $516,891.

 

A quick recap: Home affordability has increased due to motivated sellers and low interest rates, the inventory has remained high, home financing is very difficult, and there seems to be some pent-up demand from qualified buyers. 

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Thursday, January 06, 2011 2:10:00 PM E180D275-5CAC-4AE6-967D-7CB5FBD0C10D http://www.steveclaycapecod.com/article/E180D275-5CAC-4AE6-967D-7CB5FBD0C10D steve@steveclaycapecod.com (Steve Clay) http://www.steveclaycapecod.com/article/E180D275-5CAC-4AE6-967D-7CB5FBD0C10D#comments Cape Cod Condominium condos cottages on Cape Cod single family homes first-time homebuyers empty nesters Falmouth Mashpee Bourne Sandwich first-time buyers first-time homebuyers homes NAR National Association of Realtors real estate second homes statistics vacation vacation homes