Deborah Del Negro

Hi Joe,

There are many buyers with the same thought process as you...There certainly are tremendous deals out there considering the current market. Your best bet is to align yourself with an aggressive and top producing Realtor here on the Cape. Make sure they have their ABR (accredited buyer representative) and know the specific area that you are intersted in. You are right, this is not a good market for "flipping". Bank owned and short sale properties are a thought as they are obviously priced well below value as to sell quickly. Most will need a bit of work but that is where you will find most of your deals... Just a fair warning....most bank owned properties in Barnstable County are getting within 95% of their asking price, especially if sold within 30 days. Again, your realtor will know where all the deals are..Most agents attend weekly tours to become familiar with the current inventory and are aware of certain properties where folks are anxious to move on. If you'd like a referral, I'd be happy to help. If you want the best resale value, make sure you buy as close to the beach as your pocket will allow. In fact, a brand new bank owned came on the market this morning directly across from famous Cragiville Beach. Call me if you want the info on that. If bank owned properties are not your thing, I still feel that you can find a good deal as all the other sellers still need to be priced well to compete with all the bank owned out there...
Good luck and hang in there...
ps..I know you wish to wait till spring ( you're probably hoping to have prices drop more) please consider interest rates too. Even if the price of a house drops 10-15K, the amount is nullified if the rates on a 30yr go up....that is of`course if you mortgage any of it....

Deborah Del Negro
Realtor, ABR, SRES
Today Real Estate
508-568-8183 - Fri Oct 24 2008, 18:37

Hi Carol,

That particuliar unit is currently pending and due to close on Friday, October 24,2008. That complex, "John Parker Village" does allow pets under 35 lbs. That condo's fees were 301,00. per month which covered water, trash removel, pool area maint. and landscape. There are shops nearby and I'm not entirely sure about the age demograhic at this point. Although that unit is pending, I understand that there are 2 more available. If you need asisstance or would like to tour either condo, please feel free to contact me..

Deborah Del Negro
REALTOR, SRES, ABR
Today Real Estate
508-568-8183 - Wed Oct 22 2008, 14:14

Hi Allison,

I understand your fustration and I feel for you. When I read your dilemma, my first thought was "whats going on inside your home?" You see, if you are getting (many) calls/showings, that means that your asking price is not preventing folks from asking to see it. Something is stopping their interest once they get inside. Now I know you said the home and location are great but remember, it's hard for you to be completely objective.
With such a huge inventory of homes currently on the market, buyers can afford to be very picky. Perhaps you should have another couple of realtors within the same company or professional stager come in and give you a fresh perspective. While you home may be in great shape, it could be not enough light, too many collectables, small rooms, poor flow....etc.
I don't always think dropping price is the answer as condition and marketability count tremendously too.

Good luck Allyison.. - Wed Oct 22 2008, 13:54

Hi Jennifer,

It does seem overwhelming and discouraging but please don't fret. The general rule remains the same, as long as you are priced well and your home is in great condition, you will sell. Yes, there are many folks out there specifically looking for foreclosues and short sales but there are also just as many who do not want such a transaction as they can sometimes be difficult.

Now, I hate to say it but if you haven't had one showing in two weeks, I'd have to revisit your price. Of course I haven't seen your home but unless it's in a poor location, you should have had a couple showings anyway.

Price it well so you don't end up chasing this market.

I wish you well with the sale Jennifer.. - Wed Oct 15 2008, 19:24

I agree with Belinda...Another thing to consider though... Buyers are typically focused on whether the prices of homes will continue to decline or not. You must also factor in the interest rates. Even a substantial drop in the list price of a home is nullified by an increase in rates so while you might shave a few bucks off the list price, the monthly payment may be quite more not to mention how much more you'll pay over the life of that loan. No one has a crystal ball as to the future of the housing market, but if you are prepared and ready to go, then start interviewing several accredited buyer agents and good luck! Don't forget that First Time Buyer's tax break... - Mon Oct 13 2008, 20:40