Upgrade Your Rental Home Tax Free ... But ...

Have you thought about upgrading your vacation rental property but were afraid that you'd have to pay capital gains on the sale? Nicely, Uncle Sam has created a way, called a '1031 Like-Kind Exchange', to make the trade, deferring any capital gains taxes until the final 'cash-out', which can be decades down the road. These 1031 exchanges have a number of rules and need to be executed correctly, but can save many thousands of dollars. Forbes.com ran an article called the 'Ten Things to Know About 1031 Exchanges'. It's good reading. Be sure to read #10 for vacation homes.

If you'd like to explore a 1031 Exchange for your Eastham property, please give me a call.

Several Mayflower Passengers Buried in Eastham

At Thanksgiving time it's easy to think about the first Thanksgiving and the hardships that the first Pilgrims had to endure to start life anew in New England. The folks who came over on the Mayflower had no infrastructure (roads, bridges, plumbing, etc) to rely on.

It's also interesting to note that Eastham is likely the final resting place for 3 of the original Mayflower passengers. The Cape Cod Times did a short video at the Cove Burying Ground on Rt 6 in Eastham, discussing the lives of these Pilgrims. Check it out.



The website referenced in the video is http://www.mayflowerhistory.com/. On that website is a chronicle of the Mayflower's exploration of Cape Cod Bay in the late Fall of 1620. Their landing on First Encounter Beach is described ...Here.

Eastham's Rubber Duck Race - I Was A Winner!

It was warm (low 60's), the wind was torturous (30 mph, sustained), whitecaps on the river, and the tide was coming in. The location was Bee's River, at the end of the First Encounter Beach parking lot. About a hundred folks showed up to enjoy smores and hot coffee, brave the wind, and watch the race. So, after collecting a buck-a-duck, the town rec committee dumped the large bag of ducks into the incoming tide and proceeded to chase the ducks upstream into the marsh. Upstream a ways were 2 brave souls in waders who proceeded to collect the first 10 or so ducks that reached them. These were the 'winners'.

Much to my surprise, my duck took 2nd place, a 16 pound turkey.  It was all skill!

My December Eastham Report is Available Now!

My December 2011 report is available now! This issue of my newsletter has the sales results through the end of October). You'll also get my "looking forward" commentary with my predictions for 2011. Additionally, you'll find articles about appraisers and 1031 "like kind" exchanges.

This newsletter has been published every month for almost 9 years. My aim, with my newsletter, is to provide accurate sales and market information about the Eastham housing marketplace, to add commentary and opinion (as appropriate), and to keep it interesting. Download your copy of my December newsletter now.

Photo of the Day - Hatfull of Potatoes

Who knew that this would be such a big weekend on the Outer Cape? In Eastham we have the Turnip Fest and (tomorrow) the Annual Duck Races. In Orleans we have "Hatfull of Potatoes" day at the Bird Watchers General Store. This is an annual fun event that they put on the Saturday before Thanksgiving. I went today as a lark, and came home with a hat full of potatoes. A BIG hatfull. Apparently funny hats are required (see mine, far right).

Eastham's 2011 Thanksgiving Rubber Duck Race

The Eastham Recreation & Beach Department is having its annual rubber duck race this next Sunday (November 20th) at the end of First Encounter Beach, on Bee's River. Prizes will be 'awarded' to the top 10 finishers. It's a buck a duck and they start swimming at 12 Noon. 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 after 9 AM this Thursday (Nov 17th). Ducks are assigned automatically, by the order of the calls. When all the ducks are gone, they're gone! This is a rain or shine event. Must pay on race-day. Must be present to win.

I hope to see you there!

New Listing - Eastham 4 Bedroom Oceanside Cape

This 4 bedroom, 2 bath Cape sits on a landscaped half acre, just a short walk to the High School and the Cape Cod National Seashore. This house has a wood burning fireplace, a large family room, dining room, full basement, hardwood flooring, an updated kitchen and a large rear deck with an awning. This listing deserves a look-see.

Want to see more photos and a Virtual Tour? Go to http://325SquantoRd.robertsheldon.com

2011 Eastham Turnip Festival - November 19

The annual Eastham Turnip Festival will be held this year on Saturday, November 19th. 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. The festivities start at 1 PM at the Nauset Regional High School on Cable Rd.

There isn't much written about the Eastham turnip, but the Edible Cape Cod blog ran a story a few years ago about the turnip and about Art Nickerson, who grew these turnips for decades. Check out the article on the Edible Cape Cod blog.

October - Eastham Sales Down - Again!

Eastham's October sales were down significantly from last month, and continue to be quite a bit below last year. This year's sales lag 2010 by about 9%, year-to-date. The details....

• There were 5 homes sold in Eastham in October, down 11 from September
• Total sales were roughly $2M - the average home sale price was $398K
• The median sale price in October was $387K.
• There are currently 136 active single family listings in Eastham, with an average list price of $531K and a medium price of $439K. The average days-on-market is currently 201 days.

For more details, graphs, and commentary, download my latest monthly Eastham newsletter -- here. I've been publishing this newsletter for almost 9 years.