Market Conditions in Eastham>Question Details

Janice Dorri…, Home Buyer in Columbus, OH

am interested in purchasing home in eastham (cape cod)...need advice as to whether good time to buy

Asked by Janice Dorrian, Columbus, OH Mon Jan 14, 2008

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You should really consider taking advantage of the low mortgage rates right likely will not have the purchasing power you do right now if you wait 6-9 months. Sellers here are not likely to reduce proportionately to future rate increases.
1 vote Thank Flag Link Fri Feb 22, 2008
This a GREAT time to BUY or SELL !! there is a low inventory all over the Cape and a lot of Buyers. The interest rates are good and the banks or working with people. I have put 3 UNDER CONTRACT in the last 5 weeks. You can call or e-mail me anytime.
0 votes Thank Flag Link Tue Mar 18, 2014
Whether or not now is a good time to buy really depends on your objectives. How long will you hold on to the property? Will this home be for personal use or will be a rental? Will it be a primary residence or second home? The interest rates are still low. What you need to find is a property whose owner is motivated. I would not buy a property to flip at this time but then again I am a conservative investor. If you have further questions or concerns, please do not hesitate to post them on this site. We will be glad to offer our opinions.

Best wishes,

Tatiana Daniels
0 votes Thank Flag Link Fri Feb 29, 2008
Hi Janice,
I wonder what type of market could make you more confident than this market? The rates are down and going lower, some sellers have just been worn down by the market and are really motivated and finally, there are more homes out there to choose from then ever before. The point is, no matter what market you buy in, there is always opportunity as long as you have the right advice. Track the market prices with a daily email alert system - you can sign up for free on most sites - including mine of course!
Once you get comfortable seeing the homes and their prices you will know a bargain when you see one. Also a bargain may not slap you in the face, but rater you may happen across a seller that is willing to go much lower than asking price.

Best of luck in your search,

Deirdre Lohan Conway
Buyer's Agent of Cape Cod
0 votes Thank Flag Link Tue Feb 19, 2008
Currently there is a fair number of listings at all price points. Mortgage rates are near a historical low point. Check out my website to sign up for my Eastham real estate newsletter.
Web Reference:
0 votes Thank Flag Link Wed Feb 13, 2008
Access to foreclosure listings would really help you in that specific area of the cape. Give me a quick email if you are interested,
0 votes Thank Flag Link Tue Feb 12, 2008
Hi Janice,
If you a thinking about this summer, the time is now! My daffodils are coming up and interest rates are down.

Peggy Gabour
0 votes Thank Flag Link Sun Feb 10, 2008
What type of home? What price range? It's a great time to buy on Cape Cod.. we are in our Spring Market with everyone purchasing to enjoy this summer. Interest rates are low as are home prices. Call us for more information.
Sue Brown & Stephanie Smith
"Cape Cod's Finest Mother/Daughter Team"
0 votes Thank Flag Link Fri Feb 1, 2008
With low interest rates and lower real estate prices, the time to buy is now especially if you want to enjoy your home this summer. On the average it takes 6-8 weeks to close on a piece of property. This is definately a great time to start your search.

There are more buyers at this time than in 2006 or 2007. The inventory is shrinking. This indicates a shift in the market. Good luck in your search for your ideal Cape Cod home.

Tatiana Daniels
0 votes Thank Flag Link Thu Jan 31, 2008
Typically, in the north, when the winter sets in buyers go dormant....I've always liked the odds when buying during times like these. Inventory is higher and sellers are more motivated because of the absence of serious buyers. Additionally, the closer we get to spring the more sellers think about the rental income their property can bring in.......Go get'em.......
0 votes Thank Flag Link Tue Jan 15, 2008
I was showing properties in Eastham yesterday - NOW is the time. Interest rates are probably going to drop AGAIN when the Feds meet on the 28th of January - prices are down. I have told ALL of my buyers:
The time is NOW. Plus, if the property needs fixing, you have early spring to do it; if it is going to be a rental investment, you will want to get it ready and advertised. LOTS of properties available to choose from too, in various price ranges. No snow here- perfect time to drive around.
Peggy Gabour
0 votes Thank Flag Link Tue Jan 15, 2008
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