Well that’s not my realty. I got into the game right when the shift happened. So what I know is hard work and how to interpret the Cape Cod Real Estate data. Here is what the market is telling me about this 2012 market. Most economist (who get paid to get it right ) are predicting anywhere from 1.1% to 4% decline in home values before we see an uptick in the last quarter.
What does this mean? Well if your a seller, Get selling NOW. Waiting for the proverbial spring market might not have the effect one desires. If your a buyer, don’t wait hopping to save big. Waiting for that 2% decrease in price could cost you 1% in your mortgage rate.. you do the math. and you could be picking over the leftovers. yuck
The Cape Cod Real Estate market might be a little slower to bounce back from this down turn because we are a big second home, vacation home market. Now, I love to play golf but if I were a potential buyer and I’m uncertain of the economy. I might be less inclined to dig into my piggy-bank to buy that golf course home on the 18th tee. However in any market there is always an opportunity. The Cape is no different. Real Estate is being bought and sold every day. Sellers who purchased their homes many years ago have still seen there equity grow and for the buyers who are not sitting on the fence but getting in while the gettin’s good… well its all good!
