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!

Great news from the Massachusetts Association of Realtors! If you are thinking of Buying Land, or a Building a New Home on Cape Cod, or if you are ready to Renovate or Remodel your existing home, Now is a GREAT time to start.  Market demand is growing steadily, so don't miss this opportunity! Contact REEF today to see how we can help!

Mass. October pending home sales has 2nd biggest increase 

 The Massachusetts Association of REALTORS® (MAR) released the October 2012 pending home sales report for single-family homes and condominiums. For the 18th straight month, homes put under agreement were up over the same month last year. In fact, it was the 2nd biggest increase since we've been tracking the data starting back in June 2007. On a month-to-month basis, pending sales were up from September.

Here are the highlights:

• Single-family pending home sales were up 35.9% compared to October 2011
• This is the second biggest increase next to the final month of the home buyer tax credit in April 2010
• Single-family month-to-month pending home sales were up 6.45% from September 2012
• Condo pending home sales were up 42.99% compared to October 2011
• Condo pending month-to-month home sales were up 6.56% from September 2012

So now that things have settled after the election, there should be a little more predictability in the marketplace.  If you have been sitting on the sidelines, waiting to see where the Real Estate market would settle, especially on Cape Cod, you know that demand is on the rise and things are beginning to steadily improve.  The big question, therefore, is should you Build your home on Cape Cod now, or wait?  The answer to that question is simple: Build Now!  Real estate prices have stabilized, and are still at lower levels than the past, providing value in the marketplace.  Also, building codes are continuing to change, increasing the cost of construction 5-15% with each new revision.  All of the data is positive, and there is still time to take advantage of low interest rates, and reasonable property prices. 

Here is an article from HSH.com that talks about some other factors:  Why Build Now?

REEF published a similar article this year

Don't miss the boat! This could be the year you Build, Renovate or Remodel your Cape Cod Dream Home!

   Permitting can be a tricky and complicated process, full of numerous regulatory hurdles.  It becomes especially complicated if you hire someone to do Remodeling or Renovation work and they are unlicensed, or fail to properly document the permit with the local building department.  Given the fact that the building, energy, and mechanical codes have changed several times over the last 5 years, we cannot stress the importance of having your project properly permitted.  There are still many contractors on Cape Cod who will bid on a project, and then ask the homeowner to obtain their own permit. This is a huge red flag and indicates one of the following problems:

- The contractor is not licensed do do the work

- The contractor does not have workman's compensation insurance

-The contractor has lost his license for violations reported to the state

In Massachusetts, the law is very clear about doing any work in a home, and basically, unless you are re-painting, you need to obtain a permit for most work.  So if you would like your next  Remodeling, Renovation, or New Home project to be done right, and you don't want to worry about permits, hire a licensed, reputable contractor, and please check their references.

Here is an article from the Wall Street Journal about permitting mistakes: Avoiding Pitfalls of Remodeling Permits.  We have also put together a guide for hiring a general contractor that provides a checklist of things you should be looking for when you hire a contractor, click below to download:

    When people are considering their retirement home, a key factor is how much space they will really need.  At an earlier stage in life, a large home with a big yard and 4 bedrooms was important, especially with children in the home.  As you approach the retirement years, many people realize that they don't need all of that extra space, along with the headaches of maintaining a large home and yard.  As such, the idea of downsizing for your next home is a good consideration.  Fortunately, downsizing doesn't mean giving up on the features that you loved about your larger space. New materials allow a lot more flexibility for open living spaces, just on a smaller scale.  When considering your next Custom Home or Remodeling Project on Cape Cod, you should consider downsizing or right-sizing your home.

Here is an article from the Wall Street Journal that talks about making the decision to downsize:

Downsizing your Home

Thanksgiving is right around the corner, and there is no better time to show off your new Custom Home or Remodeling project than the holidays.  A new custom kitchen, or family room is always designed for entertaining and sharing time with friends and family on Cape Cod.  Here are some ideas to really enhance the look of your new space with some fun table setting ideas for Thanksgiving.  If you are thinking of updating your interior space with a remodeling project, or by building a new home, contact us today to see how we can help make your holidays extra-special!

Thanksgiving Table Setting Ideas

  So the election has come and gone, and one of the key issues is still the economy and the impact of the housing and real estate markets.  So what does the next 4 years hold for those looking to own or build a New Home? Builder Magazine explored this issue in a recent article and there is some good news.  It looks like intrest rates will stay low to promote re-financing and new construciton. It also looks like the precious mortgage deduction will be protected, again promoting housing as a key sector of the economy.

Click Here to read the full article: Housing-after the election

   The master suite is an important feature in any new home or remodeling project.  Balancing the need for space, storage, and style can be challenging in this space.  The most important feature is the functionality of the space, and making the area appealing and useful is always a combination of art and science.  Housingzone.com recently brough together their team of design experts to showcase and review some master suites.  The featured designs are a little elaborate, but there are some great ideas here, that you might provide inspiration for your next project.

Click Here to see the full articl: Master Suites