Friday, December 31, 2010

Eastham Is For Retirees

It's easy to make the case that the Outer Cape is an ideal place for retirees to call home. We have low taxes, an outdoor-friendly environment, milder weather (summer & winter), good restaurants, lots of golf courses, and a laid-back lifestyle. So, it should be no surprise that the 2010 census backs it up with real facts (we love it when the facts support the truth!). According to the census, Eastham & Orleans rank #2 and #3 as having the highest percentage of folks in Massachusetts receiving retirement pay, with the numbers being 37.8% and 34.1%, respectively. The #1 locale, with 38.3%, is Rowe, in western Massachusetts.

Read the article on the website.

Wednesday, December 29, 2010

Picture of the Day

The photo below was taken yesterday by a German tourist, and friend, Janek Bechtel, of the Highland Light in Truro. You can see that we didn't get very much snow this past storm.

Sunday, December 26, 2010

Septic Systems 101

How do septic systems work?  How do I ensure that my system will function correctly and not cause me potentially embarrassing difficulties?  When should it be pumped?  Etc.  Well, the Wellfleet Comprehensive Wastewater Committee has put together a really nice glossy piece that answers these questions, and more. I picked up a copy while I was at the Wellfleet Building Inspector's office last week.

I found it online, so go check it out....Here.

Friday, December 24, 2010

New Tax Law - A Quick Education

The continuation of the "Bush" tax breaks came with a bunch of new tax related items that need to be understood and addressed. I came upon an article from Fidelity that I found to be very informative and to the point.  Of note, there are changes to estate taxes, reduction in Social Security withholding, and new rules for charitable giving from your IRA.

Check out the article on Fidelity's "Guidance" website.

Thursday, December 23, 2010

Shifting Nauset Beach - The Saga Continues

As the towns of Orleans and Eastham 'discuss' the ownership and management of the northernmost tip of Nauset Beach, which, many believe, belongs to Eastham, the dialog gets significantly more interesting. Who should control access to that portion of the beach?  Who polices the use? Which town needs to protect the piping plovers? Can Eastham residents get lower priced stickers to drive on the new beach? Will cars be banned altogether? 

I like the quote from the Orleans selectman who suggests that Eastham "should be careful what they ask for".  Local politics can be very interesting.

Read the story in the Cape Cod Times online edition.

Wednesday, December 22, 2010

Winterize Your Vacation Home

With the arrival of our first winter snow (winter technically arrived yesterday), comes the reminder that our Cape vacation homes need to be winterized. Winterization can be intense, or not so intense, depending on how much you plan to use the home over the winter months.

For maximum energy savings, and minimum winter use, the house should be completely shut down. This will include draining the pipes, and turning off the electric.  Before my Eastham home was my primary residence, we kept it at 50 degrees during the winter months, allowing us to come out frequently for weekends.

By far the most important thing you can do to prevent serious damage to your vacation home is to shut off the water at the pump before you leave for an extended period of time. This can be done by shutting off the electric wall switch for the pump and/or turning the master water valve off.

Check out this article at (no, it's not wikileaks!) on how to winterize your home.

Monday, December 20, 2010

Eastham's First Snowfall

We woke up this morning to about an inch of fresh snow, and the snow continued through the entire daylight portion of the day. At dusk we had about 6 inches on the ground.  Undeterred, we drove to Hyannis for lunch and a bit of Christmas shopping. The photo below, of the Eastham Windmill, was taken on our way back.

Eastham Windmill

My Front Yard

Sunday, December 19, 2010

Freedom Tower - Now At Half-Way Point

The Freedom Tower, now called One World Trade Center, is at 52 floors, the half way point in its construction. Check out this photo out my son's dining room window, taken yesterday.

Ginger Bread Hotel

Last night we went out to dinner with friends. Bev called it her 'employer's Christmas party'. Although we've had a few drinks in the Tavern, we've never eaten at the Chatham Bars Inn dining room. The Inn's decorations were wonderful. In the Sitting Room there was a large set of electric trains, encircling a few ginger bread houses. But these were not your standard ginger bread structures. They included the Chatham Lighthouse and the Chatham Bars Inn, itself. Check it out... below.

Saturday, December 18, 2010

My January 2011 Real Estate Newsletter - Available Now!

My January 2011 Eastham real estate newsletter is available now! This issue has the Eastham real estate results through November 2010, a new Bayfront listing, and info on Eastham's rental home tax situation. 

Eastham's sales remain significantly ahead of last year. Prices show a moderate improvement in the median sales prices. Go to to download your copy.

Friday, December 17, 2010

Cape Cod National Seashore - 50 Years Young in 2011

Next year the Cape Cod National Seashore reaches its 50th anniversary, having been created in 1961 by President John Kennedy. A lot has changed on Cape Cod in those 50 years. And, thankfully, a lot has stayed the same, mostly due to the National Park. This next year will be full of special events commemorating the 50th anniversary. We'll need to remember to check the Seashore's website often to not miss any of these events.

The figure here is the new logo for the 50th anniversary, showing the Highland Light, in Truro, against a map of the Outer Cape.

Frozen Lighthouse - Not Cape Cod (Yeah!)

Check out this story and video about the Cleveland lighthouse getting buried in ice due to a winter storm on Lake Erie.  The story is ... here.

Tuesday, December 14, 2010

Cape Cod Stranding Network

A stranded animal is any dead marine mammal on shore, or any live dolphin or whale cast ashore or unable to return to its natural habitat, or any live seal which cannot leave shore due to injury or poor health. On Cape Cod, we have frequent single and mass strandings. A single stranding occurs when one animal comes ashore by itself and is in need of medical attention. A mass stranding is where two or more dolphins or whales strand at the same time in close proximity to one another. Mass strandings can involve over 100 individual animals. Cape Cod, due to its unique shape, has a unusually high number of these strandings, with over 500 reported each year.

The Cape Cod Stranding Network (CCSN) is dedicated to responding to these strandings. They attempt to release healthy animals back to the water, provide medical attention for sick & injured animals, work to prevent mass strandings, facilitate animal rehabilitation where appropriate, and humanely euthanize animals unlikely to survive.

Note : the CCSN has merged with the International Fund for Animal Welfare (IFAW). They have a continuous need for volunteers and donations. Go to for more information.

Saturday, December 11, 2010

Pilgrim Monument - Holiday Season Lighting

The Annual Lighting of the Pilgrim Monument, which celebrates the Pilgrims’ First Landing in America at Provincetown on November 11, 1620, is one of Cape Cod's most beautiful traditions and one that is supported by Pilgrim Monument members and friends. The official Lighting Ceremony took place on November 24th and the lighting will continue through New Year’s Day. If you get to Provincetown and stay until after dark, you'll surely notice the tower - it's really cool!

Check out the photo, taken today by one of my clients. Thank you Stephanie!  If you'd like to donate to the tower's lighting, go to the Pilgrim Monument's web page....Here.

Thursday, December 09, 2010

New Listing - Fabulous Foreclosure - Brewster

New Listing - Brewster. This large contemporary Cape style home can be yours to complete and enjoy. Foreclosure prevented completion, with plenty left to do. This 3300 sqft home is for sale at less than half it's assessed value and less than the assessed value of the pondfront land. This house is being sold As-Is.  Listed at $299,000. Wow!

Go to for more details. Or, call me at 508-237-9545 to schedule a showing.

Wednesday, December 08, 2010

Photo of the Day - Gingerbread Men

This past weekend Bev & I were in Chatham (NJ) baking cookies with some of my grandchildren (and 5 other adults) spread across 2 families. The 4 grandchildren ranged from 5 years old to 9 (going on 15) years old. We made roughly 36 dozen cookies of various shapes and sizes. Alexa, aged 6 1/2, decorated these gingerbread men. Yummy!

Monday, December 06, 2010

New Listing - Eastham Bayfront Cottage - Spectacular!

Eastham - Waterfront like you dreamed about! This Summer of '42 cottage is literally the last home on Campground Beach Rd, immediately adjacent to the public stairs to the beach. Fabulous Bay views from the large Bayfront deck, where you'll enjoy your daytime 'sunning', your evening meals, and your perfect sunsets (weather permitting!). Newer windows, septic, and water conditioning system. Fully furnished and ready to enjoy. A great rental. Listed at $949,000.

More info, more photos, and a virtual tour are available at ...

Barrel-Roofed House Going Up in Wellfleet

One of my land-only clients from earlier this year is building a very interesting, very energy efficient home off Lieutenant Island Rd. The new home will have a unique barrel shaped roof, not unlike one you might see on many modern church structures.  Additionally, this home will be certified as an Energy Star home when its done. Cool!

Check out this story in the Cape Codder: Energy Star house, under construction, sports a barrel roof.

Sunday, December 05, 2010

November Preliminary Results - Eastham Home Sales

November was another slow-ish month for sales. The fall 'slowdown' continues. The facts...
  • There were 6 closings in November (the same as October) with an average sale price of $539,250 and a median of $457,750. 
  • This year, November's closings totaled $3.2M. Last year's total November sales were $3.1M on 6 sales.
  • There were 98 closings year-to-date (11/30/10), up 38% from 2009's 71 sales (note: single family homes). 
  • Currently, there are 88 homes for sale in Eastham, with an average list price of 615K, and a median price of $477K.  
For a snapshot of Eastham market conditions, including sale details, listings, and community information go ... Here..

Tuesday, November 30, 2010

Cape Cod Times Online Beginning Subscription Service

Apparently the Cape Cod Times perceives that a large number of their readers have been reading the paper online, for free, instead of paying for the printed paper. In order to be compensated for their labors, they have devised a pay-per-view strategy to collect money from the website's readers. Unfortunately, it feels like a short-sighted reaction to what may be the inevitable truth.  For me, it'll mean that articles from the Times will be off-limits for my blog. It would make no sense to refer to an article that my readers can't see.

Read the press release ... here.

Endangered Sea Turtles Rescued Off Cape Beaches

This is the time of year when the declining Bay water temperatures take their toll on the turtle population. The hook of Cape Cod blocks a number of turtles from their trip south as they follow the warm water's retreat as winter approaches. Unfortunately, many turtles die from hypothermia as they are forced to survive in water considerably colder than they are accustomed to. Luckily, many come ashore in search of warmth only to be found by volunteers who save them from certain death. This year, the number of endangered Kemp’s Ridley turtles found on the Outer Cape's Bay beaches seems much higher than 'normal'. Catch the details in the following stories...

Monday, November 29, 2010

Amazing Eastham Photo Collection

I found this truly amazing collection of Eastham photos - check it out ..Here.   

Multiple Offers On a Home? Who Would Have Thought?

With prices somewhat depressed and mortgage interest rates so low, it was inevitable that some well priced homes would be the recipient of multiple offers. That leaves the potential buyers with the possible 'problem' of having to bid-up to 'win' the property. That could simply mean offering more money or it could means offering better terms, such as all-cash. There hasn't been much head-to-head bidding on the Outer Cape, but it's bound to happen.

Read the article on, entitled "Home Buyers Face a New Challenge: Competition" that discusses competition and when to not play the competitive game.

Thursday, November 25, 2010


Make a joyful shout to the LORD, all you lands!
Serve the LORD with gladness;
   Come before His presence with singing.
Know that the LORD, He is God;
   It is He who has made us, and not we ourselves;
   We are His people and the sheep of His pasture.
Enter into His gates with thanksgiving,
   And into His courts with praise.
   Be thankful to Him, and bless His name.
For the LORD is good;
   His mercy is everlasting,
   And His truth endures to all generations.

Psalm 100, NKJV

Monday, November 22, 2010

Gliding Above Wellfleet

From Newcomb Hollow to Nauset Light - it doesn't get much cooler than this. Paragliding along the ocean bluffs is a sight to see. Probably even more fun to do! 

Check out the photo gallery from the online Cape Codder.... Here.

Thursday, November 18, 2010

Eastham Rec's Annual Rubber Duck Race

The Eastham Recreation & Beach Department is having its annual Thanksgiving rubber duck race this next Sunday (November 21st) on Bee's River, at the end of First Encounter Beach.  Prizes will be 'awarded' to the top 5 finishers. It's a buck a duck and they start swimming at 1:30 PM - sharp! This should be a lot of fun. If you'd like to buy a duck (for a buck), call the Rec Department at 508-240-5974 - starting today. When all the ducks are gone, they're gone. This is a rain or shine event. Don't miss it! To see the Rec Department's flyer, go .. Here.

Wednesday, November 17, 2010

My December Eastham Newsletter Is Available Now!

My December Eastham real estate newsletter is available now. It has Eastham's results through October and my year-end 'best guess'. Also find a new Bayside listing, second home tax considerations, and a link to my Facebook page.

Eastham's sales have begun to exhibit the normal seasonal slowdown, but remain significantly ahead of last year. Prices show a moderate improvement in the median sales prices. Go to to download your copy.

Sunday, November 14, 2010

Updated: Tax Rules for Second Homes

Second homes (i.e. vacation homes, rentals, investment) can be a good source of income, partly because the tax system treats them favorably. Income from rentals can be offset by some serious deductions, including depreciation. Additionally, some income may (keyword - 'may') be tax free.

New to the tax code is an update to the $250,000 ($500K for married couples) tax exclusion on the appreciation of your primary home. In the past, many folks simply made their second home the primary home for the 2 required years, then sold it to get the entire exclusion. The 'new' rules require that the time after 2008 be prorated. A bit convoluted. Here - details matter.

Check out this article from Kiplinger Magazine's online edition... here.

Tuesday, November 09, 2010

Edward Hopper's 'Martha McKeen of Wellfleet'

Edward Hopper, one of the most famous American artists of the last century, spend many a summer in his Truro cottage overlooking the Bay. In 1944 he painted a water scene that he called The Martha McKeen of Wellfleet, presumably the name of the pictured sailboat. It was revealed in a 1947 Life magazine that Edward named the picture for a friend whose father founded the United Fruit Company. The United Fruit Company was founded by Lorenzo Dow Baker, a native of Wellfleet, in 1899. The United Fruit Company  became the nation's largest importer of bananas and is currently the Chiquita Banana Company.

2010 Eastham Turnip Festival - November 20th

The annual Eastham Turnip Festival will be held this year on Saturday, November 20th. There will be judged dishes (turnips, of course) and games and activities for all ages. Bring a few bucks for tee-shirts, arts & crafts, and, of course, for Eastham turnips. This event is sponsored by the Friends of the Eastham Library who are partnering with the Eastham Elementary School Parent Group. The festivities start at 1 PM at the Eastham Elks Club on McKoy Rd.

Come join the fun!

Sunday, November 07, 2010

Battery Operated Thermostats - Winter Trouble?

One thing we often forget to change are the batteries in is our fancy programmable thermostats. They, eventually, just go dead. They don't beep, they don't flash lights, they just stop working.

Unfortunately, the consequences for closed up seasonal homes can be disastrous. They are one of the causes of very expensive home freeze-ups. Thermostat batteries should be changed when you close up your home for the winter. Of course, if you drain all the pipes this is a non-issue. But many folks just turn down the thermostats to 50 degrees, or so. These folks should ensure that their thermostats are operational and have fresh batteries.

To keep life simple, I generally recommend old-fashioned mechanical thermostats (i.e. without batteries) for seasonal homes.

Friday, November 05, 2010

Is It Eastham? Or Orleans??

What may be shaping up as a border dispute will be interesting no matter how it turns out. As beaches erode and re-form, the spit of sand that we know as Nauset Beach is growing toward the north, into what some feel is Eastham. Others, however, feel the new beach belongs to Orleans, because that's where it 'grew' from. At stake is resident status for Eastham taxpayers when it comes to the ORV (off road vehicles) permits.  And, a new revenue stream for the Town of Eastham.

This story has been evolving over the last 30 years, but has only recently become interesting.  Read the story from the Cape Code Times... Here.

Monday, November 01, 2010

October Preliminary Results - Eastham Home Sales

October wasn't a great month for sales. The fall 'slowdown' seems to have begun early. The facts...
  • There were 6 closings in October (down from 11 in September) with an average sale price of $376,450, and a median of $379,500. 
  • This year, October's closings totaled $2.3M. Last year's total October sales were $6.6M on 14 sales.
  • There were 92 closings year-to-date (10/31/10), up 42% from 2009's 65 sales (note: single family homes).
  • Currently, there were 103 homes for sale in Eastham, with an average list price of 608K, and a median price of $469K.
For a snapshot of Eastham market conditions, including sale details, listings, and community information go ... Here..

Sunday, October 31, 2010

Picture of the Day - Fall Colors Abound!

I'm not certain, but I'd say that the fall colors are at their peak here on the Outer Cape, Particularly stunning are the ponds with the reflection of the leaves on the water. The photo below was taken on the Cape Cod Rail Trail (aka the bike path) in Eastham. The photo doesn't quite show how bright the colors actually are.

Thursday, October 28, 2010

Selling This Holiday Season?

Selling your home during the year-end holiday season can be very stressful. This year will be no exception. In addition to the seasonal stresses, we have a somewhat uncertain economy.

HGTV's FrontDoor website ran an article with a few selling tips for this holiday season. Check them out... Here.

Wednesday, October 27, 2010

Eastham New Listing - Great Bayside Cape

Eastham - New Listing - This 3 bedroom, 2 bath Cape is a delight to show. You'll find a clean & well maintained home with wood floors, a living room with fireplace, separate dining room, new country moldings, and an updated kitchen. The house sits on a half acre bordering 14 acres of Town land in a neighborhood of equally lovely homes. This house has new country moldings, new Anderson tilt-in thermopane windows, a 1 car detached garage and an updated 3 bedroom Title V septic system. Listed at $412,000.

For photos and a Virtual Tour go to Call me for a showing at 508-237-9545.

Tuesday, October 26, 2010

It's Bus Season in Eastham

I call it our 'secret summer'. September and October have significantly diminished traffic, warmer weather, and most of the other benefits of summer on Cape Cod.  But Labor Day starts the season I call 'Bus Season'. During bus season there is a steady stream on large tour buses traveling up Route 6, presumably heading for P-Town. Along the way, they stop at the Eastham windmill, the Nauset Lighthouse, and a gift shop or two. I've seen as many as 3 buses at the windmill and as many as 5 at the Red Barn Gift Shop.

Certainly, the buses bring tourist dollars to our economy. To imagine 5 buses of tourists (at 50-60 per bus)inside that small gift shop boggles my mind.

Monday, October 25, 2010

Eastham's 'Paper Roads'

When the various subdivision founding fathers originally laid out the roads in Eastham, they designed for many more roads than would ever (?) actually be built.  Many of these roads exist only as place-holders and don't even have names. It gets more confusing, and interesting, if the paper road acts as a buffer between one's property and the property 'next door'. Even more interesting is if the paper road has eroded away and is now the buffer between your property and Cape Cod Bay. Read the story in the Cape Cod Times.

Makes you go HMMMM!

Tuesday, October 19, 2010

Nauset Marsh - Beautiful!

Capecast, from the Cape Cod Times, did a video of the Nauset Marsh a few days ago that highlights how beautiful the marsh really is. Check it out!

Monday, October 18, 2010

What's Next For Foreclosures?

You bought a foreclosed home. Good for you!  I hope you got a great price, didn't invest a lot of your hard earned cash, and are not about to have your home taken away from you due to this latest wrinkle in the mortgage foreclosure mess. What happens to you if the bank didn't cross the T's and dot the I's for your home? USA Today ran an article about the mess and how it may affect you.

One thing is clear - title insurance sure seems like a good investment for foreclosures, doesn't it? Read the article in the USA Today... Here.  

Friday, October 15, 2010

My November Eastham Newsletter Is Available Now

My November Eastham real estate newsletter is available now. It has Eastham's results through September - my 3Q 2010 report. Also find 3 new listings, and Eastham's uncoming Turnip Festival.

Eastham's sales are continuing at a good pace, with modest improvement in the median sales prices. Volume is up significantly. Go to to download your copy.

Thursday, October 14, 2010

Oyster History - Who Knew?

With the Wellfleet Oysterfest this weekend, the Cape Cod Times ran a piece on the history of the oyster. Did you know that oyster farming goes back to the Roman Empire? Well, read the whole story on the Cape Cod Times website...Here

Wednesday, October 13, 2010

New Webcam - Skaket Beach

I'm a sucker for beach webcams. I discovered that Orleans now has one overlooking Skaket Beach, on Cape Cod Bay. The camera image is on the same webpage as their cameras at Nauset Beach. Check them out ...Here. The image below was taken this morning.

Tuesday, October 12, 2010

Eastham New Listing - Steele Rd 3 Bedroom Cottage

Delightful summer retreat or year round property...just 0.3 mile to Cooks Brook Beach. This 3 bedroom 2 bath saltbox has room for everyone. Plus additional space with its walk out basement. All appliance are included! First floor stackable washer & dryer! Large eat in kitchen boasts light oak cabinets and gleaming wood floors-2 good size bedrooms on the upper level and bright full bath with skylight. Large combination dining/living room opens to porch adorned with windows overlooking Steele Rd. This delightful property comes with a bonus adjacent lot which will add .23 of an acre to the existing property. Great house, great location, great price! Listed at $429,000.

Check out this listing's photos, a Virtual Tour, and a Google map at 

Friday, October 08, 2010

Fort Hill Trail (& an Outer Cape Slideshow)

Yesterday, my wife & I took a short walk. We went to Fort Hill, overlooking the Town Cove and Nauset Marsh, and took a short hike on the Fort Hill Trail.  This trail descends from the hill (yes - Fort Hill is a hill!) to the marsh front then loops back around a quiet meadow before climbing back up the hill to the parking lot. I took the following photo of the backside of the Coast Guard Station at Coast Guard Beach.

I found a wonderful slideshow of photos of the Outer Cape, taken this summer, by Jonathan Lurie. Check out the slideshow... Here.

Eastham - New Listing - Updated Ocean-Side Cape

This exceptional 4 bedroom , 2 bath home has been significantly updated in the last few years, with a new kitchen, new floors, new landscaping, and a huge new farmer's porch. Located on a quiet street, just a few hundred feet from town and Seashore properties. Listed at $479,000.

Go to to see more photos, a map, the virtual tour, and the 'details'. 

And, go to to get an updated snapshot of the current market conditions in Eastham.  

Thursday, October 07, 2010

Wellfleet Oysterfest - October 16th & 17th

This year will be the 10th annual Wellfleet OysterFest. The weekend (and the village) will be filled with fun things for the whole family to do and see. There is a 5K run, a tennis tournament, arts & crafts, an old fashioned spelling bee (both adults and kids), and the all-important oyster shucking contest (amazing!). Go to for more information, a schedule of events and for instructions on how to shuck an oyster.

Eastham 2011 Assessments Available (updated)

Eastham's 2011 assessment data is now available, both in print and online. A few data points...
  • The assessment is intended to represent the values as of 1/1/2010 
  • The median single family residential home assessment for 2011 is $392,500, down 4.5% from the 2010 median assessment
  • The average assessed value is $535,506
  • There were 5066 single family homes in Eastham as of 1/1/2010
  • The total assessed value for Eastham's single family residences is $2.71 Billion
The 2011 real estate tax rate for Eastham is $5.91/thousand (up 7.3%).

Check your 2011 assessment on the Town of Eastham website...Here. You can also pick up a newspaper-like copy of the town assessments at Town Hall and at quite a few commercial establishments (eg the Superette). 

Tuesday, October 05, 2010

New Listing - Waterfront on Cape Cod Bay (updated)

EASTHAM - New Listing - This 3 bedroom seasonal cottage sits high on the bank overlooking Cape Cod Bay, immediately adjacent to the private association stairs. This cottage has an amazing wraparound deck, a large living/dining room and 3 bedrooms. With the downstairs finished (it is!), there is lots of room for the whole family. Perfect sunsets every day (weather permitting!). Listed at $1,350,000. Check this listing (more photos, a virtual tour, listing info, maps) can be found at

Interested in finding the market conditions (recent sales, market averages, other active listings) for Eastham? Go

Friday, October 01, 2010

September Preliminary Results - Eastham Home Sales

September was a good month for sales. However, they were, primarily, at the low end, dollarwise. The facts...
  • There were 11 closings in September (up from August) with an average sale price of $375,500, and a median of $350K.
  • This year, September's closings totaled $4.1M. Last year's total September sales were $525K on 2 sales.
  • There were 86 closings year-to-date (9/30/10), up 69% from 2009's 51 sales (note: single family homes).
  • Currently, there were 104 homes for sale in Eastham, with an average list price of 594K, and a median price of $469K.

Thursday, September 23, 2010

Photo of the Day - Chatham Harbor

I was in Chatham today with clients, showing them a few waterfront homes. For lunch we stopped at the Chatham Fishing Pier and had lobster rolls. A fabulous day! I took this photo of a few fishing boats, resting in the harbor.

I found the following photo of the Eastham Coast Guard Station online. The photographer, Jaime Martorano, caught the Station at sunset. Spectacular! Take a look...Here.

Wednesday, September 22, 2010

Beware of Short Sale Fraud

Short Sales are real estate sales where the sales price of the home will not be sufficient to pay off the mortgage(s). Time and time again the equity of a home will be removed through second and third mortgages, effectively taking the profit out of the home prematurely. Often the financial situation results in folks having to relocate in the hope of clearing their debt. The increased number of these short sales has brought out a whole category of fraud.

Read the article on the Massachusetts Real Estate blog, here. This article came from Bill Gassett's (a REMAX agent in the Hopkinton area) blog. Enjoy!