Wednesday, January 1, 2014

Cape Cod Real Estate Forecast for 2014

Image courtesy Horizons Beach Resort, North Truro, MA
What is on the horizon for Cape Cod real estate in 2014? In general the slow, steady recovery of 2013 will continue. Notables:
  • Expect to see a continued decline in distressed sales. This affects investors and first-timers. Only the most savvy will get a crack at these diamonds in the rough.
  • Buyers: With low inventory, you and your agent need to vigilantly monitor new listings. The good valued properties practically evaporate as soon as they hit the market. Be ready with your financing.
  • Sellers: Presentation is always important, but it's especially important now. You want your property to be the one everyone clamors for. Put the time, money, and effort into making it outshine the competition, and you will be in the drivers seat.
Some wildcard factors to keep an eye on:
  • Rising interest rates. Not really a wildcard--it's happening. But it's not always clear when we'll see these increases.
  • Tax law changes
  • Government squabbling (another shutdown?)
  • FEMA flood maps
For more information visit www.realtor.org

Source: Cape & Islands Association of Realtors

1 comment:

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