Bob Sheldon has provided another update on the Eastham Real Estate market.  This month, it looks like things have continued to move in a positive direction. Home sales are up 31% on a year over year basis, and the steady demand continues.  If you are thinking of Building, Remodeling, or Renovating your Cape Cod Home in Eastham or on the Outer Cape, please CONTACT US today.

If you are thinking about your project, you should definitely take a look at our Critical Planning Guide so you know the steps involved to get your project off the ground. Click below to download:

Here is a link to Bob Sheldon's update: Eastham Real Estate Update

  Good news continues in the Cape Cod and Massachusetts Real Estate markets! Here is another update from the Massachusetts Association of Realtors

   There were 3,685 detached single-family homes sold this October, a 22 percent increase from the 3,017 homes sold the same time last year. This is the 16th straight month of year-over-year increases. The October condominium market was up 34.8 percent compared to the same time last year. (from 1,056 units sold in 2011 to 1,423 units sold in 2012). This is the 15th month of the last 16 that condominium sales have been up.  

The median selling price for single-family homes in October was $287,000 which was up 4.4 percent from $275,000 in October 2011.  

Condominium median selling prices in October were up 2.0 percent from the October 2011 median price (from $259,900 to $265,000). 

Inventory and Days on Market:

The inventory of single-family homes as of October 2012 decreased 23.5 percent from October 2011. This was also the largest single month year-over-year decrease since MAR has been tracking this data.

The inventory of condominiums on the market in October was down 32.2 percent compared to the year before.  

Detached single-family homes stayed on the market an average of 102 days in October 2012, which was down from 114 days in October 2011. Condos stayed on the market an average of 102 days, which was down from 111 days in October 2011.

So far, it looks like 2012 will be the start of the rebound for the real estate market, and as you know, demand will continue to increase. If you are considering Building, Remodeling or Renovating your Cape Cod Home, please CONTACT US today!

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   Green construction is still a big trend in home building, and we here at REEF have continued to monitor trends so see when it might be economcally feasible to build a "net-zero" home.  The "Net-Zero" concept is quickly becoming a reality, when you consider a high performance building envelope, coupled with high efficiency HVAC and some form of energy production.

  Many of our New Home customers here on Cape Cod have decided to make an investment in these types of technologies, now that building codes have increased the minimum energy-efficiency guidelines to very high levels.  Here are some of the factors your might consider when planning your Net-Zero new home on Cape Cod. 

1. Building orientation
2. Efficient Insulation / Building Envelope
3. High Efficiency HVAC and Control Systems
4. Energy Production
5. Use Monitoring

If you are considering Net-Zero for your New Home, Remodeling, or Renovation Project on Cape Cod, please CONTACT US  today to see how REEF can help!

Here is an article from Housingzone.com discussing Net-Zero concept: Net Zero Homes

  The economy has been unsettled for the last few years, and as a result, home builders and customers have seen trends that are a direct result of the current economic state.  Changes consist of the following:

1. More energy efficiency - a result of both regulation, high oil prices, and an overall desire to reduce operating costs of homes
2. More "Green" - recycled and renewable products are now common place in hew home construction
3. Smaller - average new home sizes have consistently gotten smaller over the last several years
4. Flexibile - Homes are designed flexible spaces that have multiple uses, maximizing the utility of a home
5. Storage - Having lots of storage is critical in new homes, as many buyers are downsizing

As a Custom Home Builder on Cape Cod, we have seen all of these changes first hand, and across the board, these types design concept have resulted in better, more efficient,longer-lasting homes.  If you are thinking of building your New Home or Remodeling your Home on Cape Cod, CONTACT US today to see how we can help!

Here is the complete article from Msn.com: 8 Ways the Economy is Changing New Homes

  Universal or "accessible" design has become very popular over the last 5 to 10 years, especially for New Homes in an area like Cape Cod, where most of the customers are looking for a design that will accommodate all of their needs to age in place.  One of the best products we have seen recently to meet this universal design program are so-called "linear drains" for showers which basically provide an easy means of creating a handicapped accessible shower space without the traditional shower curb for water. 

If you are thinking about designing, remodeling, or building your new home on Cape Cod, please CONTACT US today to see how we can incorporate Universal Design into your next project!

Here are some examples from Quick Drain, or visit their website for more information: QUICKDRAINUSA.COM

   As of October, new home construction has hit a 4 year high!  And the consistent month over month growth to this level indicates that the housing industry is strengthening and has re-bounded off of it's 2008 lows. One of the primary factors that contributed to this increase is low mortgage rates, which will continue to stay low for the forseeable future, especially with the recent Federal Reserve decision to purchase $40 billion in mortgages every month.

So what does this mean if you are planning on building, remodeling or renovating a home on Cape Cod? Well first of all, you should strongly consider building or starting your project to take advantage of the low mortgage rates, available labor, and still-low material costs.  Second, we forsee a continued, steady increase in material and labor costs over the next 12-18 months, in response to the natural supply and demand cycles, so building now could save you thousands of dollars on your project.  As building demand increases, new regulations will come into play, and there is already talk of upgrading the energy and other mechanical codes over the next 2 years that may add as much as 5-10% to the cost of your project. Finally, land prices will begin to stabilize and then increase based on demand as well, and with limited raw land available on Cape Cod, who knows what a lot might cost in a few years!  If you are thinking of building your Cape Cod home, you really should CONTACT US today to see how you can take advantage of the current market.

Here is the complete article from CNN Money: Home Building at 4 Year High

   So the holidays are here! So it is time to get out the wreaths, garlands, and those strings of lights you have had for the last 20 years and decorate your home for the season.  There are several ways you can decorate the exterior and interior of  your home, and we thought it might be a good idea to provide a few tips and some inspiration for your decorating project.  Here are a few things to remember when decorating the exterior of your home. 

1. Safety - working on ladders and roofs, especially in cold weather can be extremely dangerous.  Make sure your ladders are secure, clean, placed on stable surface
2. Electricity - Don't overload your circuits! Too many strings of lights on one outlet can cause breakers to trip, and possible fire.  Also, make sure you have a GFI outlet, or GFI extension cord to make sure to minimize the risk of shock.
3. Lights - in the last few years, LED lights have become less expensive and available nearly everywhere.  These are a great product because they are extremely durable, and use much less energy than older incandescent lights

Here are some articles from Decoist.com that can help with ideas for Decorating your Cape Cod Home

Outdoor Decorating Ideas

Indoor Decorating Ideas

   At a conference held on November 13, 2012, Governor Patrick announced a new plan to promote construction of 10,000 new units of housing annually.  This "Compact Neighborhoods" plan supports smart growth and higher density development in areas where it makes sense, i.e., near jobs, or transit centers. Along with the renewed focus on development, there was also a focus on providing a more streamlined and predictable permitting process for residential projects, which was written into the jobs bill that was passed in August.  This sort of positive attitude towards housing from the state level can only serve to help all of us in the Home Building industry.  Housing and development are major sectors of the economy on Cape Cod, and it is nice to see government leaders taking positive steps towards recovery!

Here is the full article from HBAMA.com: Governor Patrick Talks Housing

   This week, mortgage rates hit new lows, with 30 year mortgages dropping to 3.31% according to Freddie Mac.  With money available, now is a great time to think about your New Home Project on Cape Cod.  We work with local banks who understand Cape Cod, and who are experts in the Construction Loan process.  We have a strong reputation with local lenders, and work closely with them early in the process so we can meet your budget and payment expectations.  If you are thinking of building a home on Cape Cod, contact us today to take advantage of these historically low rates!

Here is in article from CNN with details on the current mortgage rates: MORTGAGE RATES FALL AGAIN

  All of us here at REEF would like to wish everyone a Happy Thanksgiving.  We would also like to recognize our employees, customers and our team of contractors for their contributions to our success!