What Will Your War Story Be?

Here's the deal: we are in a recession. Granted, we are on the tail end of it at this point, but the reality is that our national economy took a face plant, and that's the truth. I've talked to a lot of clients lately who--God love 'em--think that the recession doesn't apply to them. Somehow their house is the only one that held its value from when they bought it in '05. I talked to one client today who has an investment property on which they have a 4.5% mortgage (albeit an interest-only balloon), and they are presently breaking even on it, with the best tenant on planet earth. They were considering selling or refinancing until I broke the news that the property is worth 20% less than they need it to be. Worst case, they sell it in 2 years and break even or maybe make a dollar. That's pretty good I say, in these times. Broke is the new rich. At least you're not in debt!
Compare that to another house that I just sold. A gorgeous, radically renovated beach cottage with all the bells and whistles. We sold it for above market value (go me!), and still the seller came up short at the closing. Yikes. That one hurt.
Listen, friends, nobody is immune from this national crisis. Most of us have already taken it in the shorts in one way or another. If you are one of those, congratulations, chances are you can move on now and rebuild. If you haven't, don't be too smug. It might not be as harsh as a foreclosure or short sale, but if the worst that happens is that you walk away with the shirt on your back, you're doing alright.

WSJ Says Now's the Time to Buy Vacation Homes

The Wall Street Journal has taken note of the increase in activity in upscale vacation homes like those here on the Cape. But their advice, and mine, is to go into it with a long view. In the early 2000's as the bubble peaked, it was a safe bet that if you needed to in under 5 years you could unload a piece of real estate and get all your money back and then some, but we're not seeing that kind of irrational appreciation today.The market is improving, but if you don't have a confident view of your own future over the next 10 years or so, it's best to wait until you do.

June Was a Busy Month!

Good grief, I can't believe I didn't publish a single post in June! It was a very busy month for my family and for Cape Cod real estate. Actually, judging by the real estate stats you wouldn't think I had much of an excuse. According to the Barnstable Registry June 2011 Recording Statistics that came out today, June was actually down  from May. However, this was preceded by three straight months of growth, a trend we haven't seen for two years. Still, we have fantastically low interest rates and bargain prices. With that and the summer population more than double that of the off-season, I'm predicting a busy July.

Recap: Top 10 Signs of Spring on Cape Cod

10. Roadkill
9. Birds!
8. Crushing Disappointment
7. Cadbury Eggs
6. Levitating Mulch
5. PEEPERS!
4. My Birthday!
3. Right Whales in the Bay
2. My Husband's Annual Poison Ivy Attack
1. THE HERRING ARE RUNNING

Signs of Spring on Cape Cod. Sign #1: THE HERRING ARE RUNNING!

I'm posting this a few weeks late. This is just the most fun and amazing sign of spring for me. The Brewster herring run by the grist mill is one of the most magical places on earth, much less Cape Cod. I swear fairies live there.
Every April during my many frequent trips by the herring run I keep an extra eye out for seagulls lurking about the run. There is a direct correlation between the density of hovering gulls and that of the migrating herring. It's awesome!

Mayflower Beach Named Top 10 for Families by Parents Magazine

A Shore Thing: 10 Best Beaches for Families Plus 10 Runners-Up

Sign #2 of Spring on Cape Cod: My Husband's Annual Poison Ivy Attack

My husband gets poison ivy like it's his job. Right on schedule, every spring the evil weed seeks out Mark's skin, and I think lymph nodes too. He's one of those people who gets a tiny little spot that within hours morphs into a blistering, oozing patch of itchy hamburger. By day he stoically soldiers on, dutifully applying prescription ointments and popping his prednisone, not so much as touching a spot, much less scratching. It's torture for him. But by night in the vulnerability of sleep, the bed shakes as he rakes at his flesh. I feel so bad for him. This year's attack was less overwhelming in its reach, only showing up in a couple of spots. However, it made up for its sparseness with its appearance in the most unfortunate areas...poor guy!