Friday, February 15, 2019

Eastham Vacation Home Rentals and Taxes

We saw this train coming. I've been against this new tax since it reared its ugly head a few years ago. On January 1st a new short term rental tax went into effect for rentals after July 1st. For the Town of Eastham, the breakdown will be as follows:
  • 5.7% to the state
  • 4% to Eastham via the state. This is the same rate as hotels and B&Bs currently pay. Municipalities can raise the rate as high as 6%, but Eastham has no current plan to do so. Raising the rate beyond the 4% would require approval at Town Meeting.
  • 2.75% to Eastham via a state water commission. For appropriate waste water/water quality projects.
  • Note - the law provides for an additional 3% tax for more than 1 rental in each town. Eastham is not imposing this part of the law.
  • Total – 12.45%
Since this is state-wide, it applies to every town in the state. There are a few other pertinent facts. ...
  • Short term - any rental of 31 days or less
  • Home exempt if rented less than 14 days per year
  • Rental homes must be registered in a new State database
  • Moneys to be collected by the party that collects the rent (rental agencies, internet rental companies, etc)
  • Homes must have $1M liability insurance coverage
The Town has nicely put up a web-page that covers this new law...HERE.

How will it affect rentals in Eastham? Certainly, the cost to a summer tenant will go up dramatically, but will it reduce the number of summer rentals? I think not. I travel a bit and stay in hotels. When I book a room I care about what I pay. But when I check out I simply pay the taxes. They aren't negotiable. Since all of Massachusetts is subject to these taxes, I don't feel that there will be any long-term reduction is short term rentals. My sympathy goes out to all the individual rental owners and those Mom and Pop rental companies that now have to sort out how they will comply with this new law. Ugh!

Eastham New Listing - Brand New 3 Bedroom Cape

EASTHAM - New Listing - Looking for a brand-new 3 bedroom 2.5 bath home with all the newest amenities? Check out this contemporary Cape-style home with this stainless and hard-surface kitchen, high ceilings, hardwood floors, central AC, gas forced-air heat, true first-floor master, large trex-deck, and an outdoor shower - all convenient to Eastham's wonderful Bay (and ocean) beaches. It doesn't get much better than this! Dream Here!

More information can be found at http://725MassasoitRd.RobertSheldon.com. Be sure to watch the 3-D Virtual Tour ... Here. Dream Here!

Tuesday, February 05, 2019

New Listing - 3 Bedroom Bayside Ranch - Short Walk to Kingsbury Beach

EASTHAM - New Listing -  Looking for a simple 3 bedroom ranch get-away, close to Kingsbury Beach? - This is for you! The owners have used this modest home as a place to recoup and heal for many years. This home sits on a level, nicely private, half acre, with a larger front yard, on a quiet sand road. The beach is just a short walk down Kingsbury. In need of some TLC this home can be the beginning of family traditions for your family. 

More information can be found at http://50GardenLane.RobertSheldon.com. Be sure to watch the video Virtual Tour ... Here. Dream Here!

Saturday, February 02, 2019

Eastham Real Estate - February 1st Snapshot

Here is the February 1st, 2019,  snapshot of the Eastham real estate market (single family homes). We had 7 sales for January, down 12 from December, but actually about normal for a January. January of 2018 (last year) was 18 sales. Inventory levels are in our winter 'slump', at 56 (up 1 from January 1st). As the winter begins, the number of active Buyers slows dramatically, as you'd expect. (Click on table to enlarge it for easier reading).


Friday, January 18, 2019

My 2018 Year-End Market Report Is Available Now

My Febuary 2019 newsletter is available to download. This issue has my Eastham year-end 2018 market report. Also in this newsletter are my predictions for 2019, an article about the new Eastham rental property tax (going into effect July 1st), an example of how mortgage points can be used to increase your purchase power, and a new Bayside listing. There is also a link to my Video newsletter (#15).  

This newsletter has been published every month for almost 16 years. My goal, with this newsletter, is to provide accurate sales and market information for the Eastham housing marketplace, to add commentary and opinion (as appropriate), and to keep it interesting. Download your copy of my Febuary 2019 newsletter now.

Friday, January 11, 2019

New Listing - Neat & Clean Ranch With Deeded Association Beach

EASTHAM - New Listing - Looking for that neat and clean 2 bedroom beach house? We have a large family room with fireplace, a covered porch, large 1 car garage with a small workshop area, and an outdoor shower, all just up the road from your private association Bay beach? This is it! Great summer home just 0.3 miles from the beach. Gas forced air heat. Nicely updated. This has been a consistently good rental. Home can be purchased mostly furnished (w/a few exclusions).  Dream Here!

More - photos, Virtual Tour, and a map - go to http://285SummitAve.robertsheldon.com.

Wednesday, January 02, 2019

New Listing - Pristine Brackett Landing Cape Style Condo

EASTHAM - New Listing - This is a beautiful 1300 sqft 1+ bedroom, 2 bath, condo home in Eastham's only established year-round condo community. We have hardwood floors, granite counters, stainless appliances, central AC, natural gas, a full basement, and a 1 car garage. Downstairs is the open living/dining/kitchen as well as a good-sized guest space. Upstairs is the open loft and a larger master suite. Super nice. Dream Here!

More - photos, Video Walkthrough, map - go to http://4DoryLane.robertsheldon.com.

Eastham Market Snapshot - January 1, 2019

Here is the January 1st, 2019,  snapshot of the Eastham real estate market (single family homes). We had 19 sales for December, down 1 from November, but still a robust month. Year-to-date sales are now up, about 7.2% from last year.  Inventory levels have entered the winter 'slump', at 55 (down 12). As the winter begins, the number of active Buyers slows dramatically, as you'd expect. (Click on table to enlarge it for easier reading).


Friday, December 21, 2018

My January 2019 Newsletter Is Available Now

My January 2019 newsletter is available to download. This issue has my Eastham market report through November 2018. Also in this newsletter is a story about the upcoming Eastham 400 celebration, the American Warrior Real Estate Professional, an ocean-side new listing, and Video newsletter #14.  

This newsletter has been published every month for over 15 years. My goal, with this newsletter, is to provide accurate sales and market information for the Eastham housing marketplace, to add commentary and opinion (as appropriate), and to keep it interesting. Download your copy of my January 2019 newsletter now.

Monday, December 10, 2018

New Listing - Pristine 4 Bedroom Ocean-side Cape

EASTHAM - New Listing - Looking for that pristine updated 4 bedroom Cape, just a few hundred feet to the Bike path and just a short ride to the Seashore and Nauset Light? This home has hardwood floors throughout, granite counters, a spacious family room with skylights, 3 bathrooms, a living room with fireplace, a one car attached garage, large shed, and landscaped lawn. 

This is the perfect home to enjoy Cape summers, weekend getaways, your retirement, or simply as a family rental. Dream Here!

More - photos, Virtual Tour, map - go to http://95SparrowhawkLane.robertsheldon.com.