February 1st Eastham Market Snapshot

#EasthamDreamHere  Here is the February 1st snapshot of the Eastham real estate market (single family homes). Sales for January were far above January 2017's sales. Inventory levels continue to be lower than we've seen in recent years.  I'm hoping inventories pick up such that we can have another really good year.  (Click on table to enlarge it for easier reading).

The New Tax Bill and Eastham Real Estate

Homeownership and Taxes
The tax bill passed (and signed) at the end of last year will have a significant impact on your income taxes, going forward. There's a lot to absorb, including much to do with home ownership. The full impact will depend mostly on where you maintain your primary residence, but vacation and rental properties are also affected. Here goes...

• ·   The maximum amount of deductible mortgage interest has been decreased for new (after 12/14/17) mortgages. The amount is based on how much of a balance you have on your mortgage(s), now up to $750K (formally $1M). 'Old' mortgages will stay at the $1M cap. The mortgage cap still includes both first and second homes. Yay!
• ·   There is a now a maximum dollar amount of State and Local Taxes (SALT) that can be deducted. That maximum is $10K. This will dramatically affect those folks who live in high tax states. Generally speaking, this includes Massachusetts. The good news is that Eastham and the Outer Cape have relatively lower local taxes.
• ·   Capital Gains rules for the sale of your primary residence remain unchanged. This is - you get a $250K ($500K if married and filing jointly) capital gains exclusion if you sell your primary residence that you've lived in 2 of the previous 5 years.
• ·   IRS 1031 Like-Kind Exchanges, for residential rental properties, remain unchanged.
• ·   Most rules for rental and investment properties remain unchanged
• ·   Home equity loan interest will no longer be deductible.

Implications for Eastham Real Estate:

It's certainly difficult to predict what the impact will be, but a few observations are in order...

• ·  In general - most folks should see a modest reduction in their personal income taxes and,hopefully, will spend more on life and leisure (and a new home in Eastham!)
• ·  Folks who are heavily mortgaged may be less inclined to sell and buy again with the new $750K mortgage cap (vs the current $1M cap)
• ·  Folks who live in high tax states may actually pay more Federal income taxes and have less disposable income to purchase a second home (unless they choose to make their new property a rental property).
• ·  There are a lot of pieces and parts to the new tax code above and beyond what I have highlighted. My expectation is that it'll take some weeks for many folks to sort out what it means to them.

My 2017 Year-End Market Report Is Available Now

My February 2018 newsletter is available for download. This issue has my year-end 2017 market report. Also in this newsletter is my 2018 projections, the new Federal tax plan, a story on Nauset Newcomers, and a buyer testimonial. It also contains a link to my third video newsletter. 

This newsletter has been published every month for almost 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 February newsletter now.  #EasthamDreamHere

January 2018 Eastham Market Report

My January 2018 newsletter is available for download. This issue has my market report through November 2017. Also in this newsletter is my Year-end 'Preview', new way to access the MLS, news on the Dollar General store, and my Holiday message. It also contains a link to my second video newsletter.

This newsletter has been published every month for over 14 years. My aim, with this 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 January newsletter now.  #EasthamDreamHere

Eastham Real Estate - December 1st Snapshot

#EasthamDreamHere  Here is the December 1st snapshot of the Eastham real estate market. Sales are below last year's levels (again), inventory is down (again).  Still looking for a pretty good year, but not a record year. The price message is that the median prices (YTD) are up 13.6%. Wow! (Click on table to enlarge it for easier reading).

My December 2017 Newsletter Is Available Now

My Decenber 2017 newsletter is available to download. This issue has my market report through October 2017. Also in this newsletter is a new way to access the MLS, a plea from the Eastham Fire Department, the Chapel in the Pines, 'I got sharked!', and a new listing. It also contains a link to my first video newsletter.

This newsletter has been published every month for over 14 years. My aim, with this 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.  #EasthamDreamHere

Eastham Real Estate Snapshot - November 1, 2017

#EasthamDreamHere  Here is the November 1st snapshot of the Eastham real estate market. Sales are up again, inventory is down again.  Still looking for a pretty good year, but unlikely a record year. (Click on table to enlarge it for easier reading).

My 3rd Quarter Real Estate Report is Available

My 3rd Quarter 2017 (aka November) newsletter is available for download. This issue has my market report through the end of September, 2017. Also in this newsletter is a new way to access the MLS, a plea from the Eastham Fire Department, and 4 new listings. . 

This newsletter has been published every month for over 14 years. My aim, with this 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 November newsletter now.  #EasthamDreamHere

Bayside 2 Bedroom Expanded Ranch - Walk to the Bay

EASTHAM - New Listing - Here it is - an expanded classic 2 bedroom ranch cottage, updated with hardwood floors, a large family room, farmers porch, and a huge new Azek back deck and Azek boardwalk to the new outdoor shower. This well-maintained house (including a newer roof and bathroom) sits just over a half mile from Cooks Brook Beach on a half acre lot (20K sqft) near the end of a quiet sand lane. This would make a great summer rental or family get-a-way. Dream Here!

More photos and a Virtual Tour is Here.

Like New 3 Bedroom Cape - Walk to Campground Beach

EASTHAM - New Listing - Delightful, like-new 3 bedroom Cape. This one-floor-living home has a granite and stainless kitchen, open floorplan with living room with gas fireplace, and a larger bedroom. The second floor has 2 front-to-back bedrooms and a large bathroom. Add to that hardwood floors, natural gas, central AC, first floor laundry, rear deck, outdoor shower, ceiling fans, and a full basement. Just a short walk to Campground Beach. Great rental history ($2400/wk in-season). Dream here!

More info, a map, a video and more photos ... Here!http://440campgroundrd.robertsheldon.com