Chatham Seaside Links - Hmmmm!

I promised I'd report after I had a chance to play the 9 hole golf course that abuts the Chatham Bars Inn. I played it last week with my wife and a friend.

Well, I found it difficult. Several of the holes, including the 1st, were laid out such that you couldn't see the pin from the tee box due to a hill crest in the fairway. My game is inconsistent (I'm overstating my skill level here) without the 'help'. The other 'help' we had was the wind, which seemed to blow in my face on every hole (is that possible?). All that said, it was a good time, a great day, and the price was right, $19 (without cart).

I Now Advertise on Trulia.com

I now advertise on Trulia.com . I have recently signed up as a "Spotlight Realtor" on Trulia.com. This means my clients' listings will be featured 'front & center' on all home searches. Trulia is fast becoming a premier website for folks seeking real estate. This new exposure should provide more traffic for my website, more showings for my listings, and more sales.

A Customer Letter - A Buyer

Bob,

N. and I would like to thank you for your perseverance in our five month quest to obtain this property. I know that the profit for you had to be at a minimum and your efforts to put this deal together were above and beyond. Again, thank you and hope we can stay in touch as neighbors.

T. B. (of Connecticut)

Wellfleet OysterFest - October 18th & 19th

This year will be the 7th 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. Go to www.WellfleetOysterFest.org for more information, a schedule of events and for instructions on how to shuck an oyster.

Slump? What Slump??

With all the talk about the nationwide housing slump, I get a lot of questions about how it has affected real estate in Eastham. So I compared the previous 12 months (9/1/2007 to 8/31/2008) to the full-year 2004, using data extracted from the Cape Cod & Islands MLS. 2004 was the year prior to the beginning of the current slowdown. I report every month on sales volumes and both average and median sales prices.

The data shows....

• Sales volume in down 32% (2004 - 141, 2007/2008 - 96)
• Average sales prices are up 6.8% ($496K vs 530K)
• Median sales prices are up 0.2% ($449K vs $450K)
  

My conclusion is that the only slump is in sales volume - no surprise.

Chatham Seaside Links

I 'discovered' a 'new' 9-hole golf course! This course is adjacent to the Chatham Bars Inn, just off of Shore Rd in Chatham. What is so amazing is that it's a public course with VERY reaonable greens fees - how about $19! In truth, the course has existed for many years (since 1895) and I'm not the first to discover it, but I plan to give it a play before it gets too cold. I'll let you know when I do. Check it out on Golf.com.

REX Agreements - A New Way to Tap Your Home's Equity

Just when you thought that the home lending business couldn't get any more complicated, there is a new way to tap into your home's built up equity. This new 'instrument' is called a Rex Agreement. Simply (ugh!), a Rex Agreement allows you to borrow up to 15% of your homes equity, to be paid back, interest free, when you sell your house, up to 50 years later. The 'cost' of this loan is up to 50% of the home's equity growth since the loan was taken out, however many years ago. If your home decreases in value, the loss is shared, 50/50, between the loaner and the loanee. The minimum loan duration is 3 years. Rex Agreements are legal in Massachusetts, but not in all states. Go Here to read more about these loans.

I see this loan as being, potentially, a very expensive way to borrow money. Also, since these loans will be bundled and marketed, they will (in my opinion) contribute to the uncertainty of the housing and lending industries.

Windmill Weekend - Sand Sculpture Photos

Although the weather was if-fy for Windmill Weekend, a number of folks still managed to build impressive sand sculptures on First Encounter Beach. A client of mine, Kathy S., took some photos that you might enjoy. Go here for her slideshow.

We Dodged A Bullet With Hanna

The weekend turned out to be 'not so bad', even though the remnants of Hurricane Hanna blew through here this past weekend. Saturday was just a day of scattered showers. Saturday evening had light rain but winds in the 25 to 40 mph range, and Sunday was spectacular - bright sunshine. Eastham's Windmill Weekend wasn't a washout as feared. To make the situation even better - Hurricane Ike looks like its heading west, into the Gulf of Mexico.

Bald Eagles Are On The Outer Cape

Friends of mine were kayaking in Wellfleet when they spotted a bald eagle. They were on the Herring River, in Wellfleet, inland from the Chequessett Neck Rd bridge (see map) on the way to Great Island. Bald eagles are no longer an endangered species, but they are protected. I took the photo (right) during a recent trip to Alaska where bald eagles are a common sight.