Bob Sheldon is a local Realtor who does a great job of analyzing the market in Eastham. The consensus is that markets are improving, and Bob’s quantitative work reflects that too. Numbers don’t lie: the Real Estate market is rebounding. If you’ve been sitting on the sidelines, wondering about buying, selling, or building, prices and values are on the climb again.

Eastham 2012 Year-End Real Estate Report

   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

   Prices for existing homes have continued to rise this summer.  July marked the 5th consecutive monthly increase for year over year sales data.  This is good news and shows continued strength in the housing market. 

As a custom home builder on Cape Cod, many of REEF's customers are selling their existing homes to  retire here on beautiful Cape Cod.  With low interest rates, and rents on the rise, the housing market has begun a consistent upward trend, allowing people to sell their homes at a higher price.  The favorable interest rates also help the construction / renovation market as construction loans are also available at similarly low rates.  If you are thinking of building a new home on Cape Cod or Renovating your existing home click here to find out what it might cost:

Here is the full article from residentialpros.com: Home Prices on the Rise

    A recent article by the Boston Globe highlighted cautious optimisim among the CEO's of the nation's largest homebuilders.  A combination of demand, price cuts, and general economic improvement have allowed these builders to reduce their backlog, and generate an increase in new sales.  The CEO's were reluctant to definitively project a strong and sustainable upswing in the marketplace, but the signs are positive. This data, along with the information about the strength of the remodeling market, give some positive indicators to the marketplace. On Cape Cod, we have seen significant increased demand for remodeling and new homes. 

Click here for the article:

http://www.housingzone.com/ihome-building-ceos-cautious-optimism-2012

If you are thinking about a remodeling, tear-down or new construction project on Cape Cod, click below to find out what your project might cost.

   The National Association of Realtor published its updated sales numbers last week and the results were great.  There was 4.3% increase in sales last month, and inventory is down to 2005 levels. With a 6 month backlog of inventory, the housing market seems well on its way to recovery.  The only bad news was that the large volume of foreclosures would still hold prices down.  Of course that is bad news for sellers, but still great news for buyers.   Locally we have seen activity pick up substantially over the last few months, with more and more requests to renovate or remodel newly-purchased homes.

Click here to read the whole article from the Chicago Southtown Star: Housing Market Looking Up