June on the Outer Cape

June has long been a well-kept secret of outer Cape residents, but word is getting out! The gardens are in bloom. All of the businesses are open and in full swing. But because the full summer crowds have not quite arrived in full, the beaches, bike trails, shops, shows and restaurants are all very accessible this month. And most years, the weather cooperates! Don’t miss out on these special festivals, or come just for a weekend get-away to eat out and see a show.

June 4-7
Women of Color and Friends Weekend: Join hundreds of women of color, their friends, families, & supporters in Provincetown for the third annual gathering! Click Here

June 17-21
Provincetown International Film Festival: Celebrating 11 years of cutting edge, independent filmmaking on the edge. Enjoy 5-days of films, panels and parties Click Here

June 25-28
Provincetown Portuguese Festival & Blessing of the Fleet: Music, great food and parade festivities! Click Here


The 2009 Theatre schedules have been set. Don’t miss these great performances.

Wellfleet Harbor Actors Theatre Click Here

Provincetown Players Click Here

Mortgage Rate Update

It appears spring flowers aren’t the only things inching up this time of year. Mortgage interest rates for 30 year products have been slowly increasing after reaching record lows in late April.

The national average mortgage rate is now 4.84%, this is up from 4.78% a few weeks ago as reported by Freddie Mac. The rates have been hovering in the high 4’s for two months straight and all eyes are watching this movement. The low rates have created a flood of business for banks and mortgage brokers catering to consumers seeking to refinance and save thousands a year in monthly payments. The latest increases in rates may push even more consumers to act.

The 30 year rates were impacted positively in March when the Federal Reserve announced that it would purchase $1.2 trillion in mortgage backed securities and $300 billion in government debt. 15 year mortgages have also been affected. The rates for these less traditional mortgages are around 4.5% according to The Boston Globe.

Local banks are offering 30 year products at or around 5% with no points. A local branch of a large national lender is offering a rate in the high 4’s with points attached.

Here’s a note of caution. Be careful when shopping for a new mortgage. Although the days of teaser products are gone, read the fine print and make sure all fees, including points are disclosed up front. You don’t want the illusion of paying a 5% interest rate and find out that it adds up to 6% when all is said and done.

Going Green means Saving Green!

Are you considering any renovations to your property this year? If you make energy efficient choices, you may be eligible for significant tax credits. The American Recovery and Reinvestment Act of 2009 encourages homeowners to help the nation reduce its great dependence on energy by making green choices.

New energy efficient windows, doors, insulation, roofs, HVAC systems, water heaters and biomass stoves will bring a credit to you of up to 30% of the cost, with a cap at $1500. But more heavy duty systems, like solar panels, solar water heaters, geothermal heat pumps, small wind energy systems and fuel cells, will bring a credit of 30% of the cost with no upper limit and you can benefit from these credits through the end of 2016!

If you are not planning any major work, there are still some relatively easy things you can do to live greener and save energy along the way.

• Install low flow toilets and showerheads in your bathrooms.
  
• Update your thermostats for maximum efficiency.
  
• Insulate your attic.
  
• Seal air leaks.
  
• Use energy efficient light bulbs.
  
• Unplug your chargers when they are not in use.

For more information on Federal Tax Credits for Energy Efficiency, click here.

Lets be Optimistic about Real Estate

This week brought some peculiar behavior in the real estate market which led to conflicting reports and opinions as to whether we’ve reached a turning point.

The past few Saturdays have been buzzing with real estate shoppers. Realtors from Provincetown to Orleans reported that the combination of scheduled showings, walk in inquiries and busy open houses, were reminiscent of a stronger market. The weather cooperated as well.

Mortgage brokers reported that although the majority of their traffic is refinance business, the number of buyers seeking pre-approval letters, are increasing.

The Boston Globe reports that home values slipped an average of 15% in Massachusetts since the market peak in 2005. This is not a tremendous slip compared to other states which saw a 50-60% decrease in value. Outer Cape property is in line with the rest of the state experienced an average 10-20% adverse adjustment in value. The Globe also reported that sales have consistently increased over the past three months, although by a small margin.

It’s hard to predict when the curve will turn upwards, but here are some significant signs that momentum is building for something to happen:

1. Pre-approved buyers are shopping. Getting a mortgage these days is not an easy thing and going through the process shows commitment to buy.
   
2. The interest rates remain historically low.
   
3. Low prices are creating extreme opportunity.
   
4. Closed sales in the hardest hit markets of Phoenix and South Florida have already increased three months in a row due to the purchase of foreclosed properties and short sales.
   
5. The Housing stimulus package is helping sellers keep their homes and avoid slipping into foreclosure or listing their homes at fire sale prices.

Stability may be returning to the real estate market. Although there is a long road ahead, it appears that there is change on the horizon.

First Time Home Buyer Tax Credit

The clock is ticking on one of the most enticing features of the American Recovery and Reinvestment Act of 2009: the first time home buyer tax credit. The act authorizes a tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence between January 1, 2009 and December 1, 2009.

Before you stop reading this because you have owned a home in the past, note that the definition of ‘First time home buyer’ is a buyer who has not owned a principal residence during the three-year period prior to the purchase. So even if you have owned a home in the past, but have been renting for the past three years, you would qualify!

What does the credit really mean? Plain and simple, it is cash back to you from the government. It is a dollar for dollar reduction in what you owe. If you owe $8000 in taxes for 2009, the credit would be applied and you will owe nothing. If your tax liability is only $1000, then you will receive a check for $7000.

What types of properties qualify? Any property that you will use a primary residence will qualify, including but not limited to single family homes, and condominiums. You will even qualify if you build a new home and occupy it before December 1.

Only 7 months remain in which to take advantage of this credit. Don’t miss out.

Source for this article and for more information: www.federalhousingtaxcredit.com/2009

Spring Into Lawn Care

It is late April and spring lawn care is important for lush, thick grass.

If you have a lawn, here are some quick tips you may want to follow:

1. Rake the lawn to remove all dead leaves that the blustery winds of winter blew onto your lawn. If there are no leaves, rake the lawn thoroughly to remove dead grass. Raking removes thatch, a build up of dead leaves and grass which prevents the proper growth of individual blades of grass.
   
2. If you have mossy type plants growing in your lawn, you may want to apply lime to ensure the soil acidity is proper for grass. Not every lawn needs lime so exercise caution and read instructions.
   
3. Seed the lawn. If you have bare spots that need to be seeded or a part of the lawn is worn after being used as a walkway during the winter, get out the rake again. Pay special attention to these areas with the rake to make sure all thatch is removed. Then, use a garden rake to create grooves for the seed. Spread the grass seed. Ask your garden center expert about which seed is best for your location.
   
4. Once the lawn is raked and seed planted, buy a multi step fertilizer and weed killer. Spread this over the entire lawn. Follow the instructions and make sure you don’t over apply. If you use too much fertilizer, it will burn the grass causing more harm than good. Make sure your fertilizer is a cool season fertilizer depending on where you live.

A typical time to start spring lawn care is now if you have warm weather. You can wait as until late April providing the weather is cool. Temperature for spring lawn care should be consistently in the 50’s.

Once you follow these simple steps, you too, can enjoy tall glasses of cool lemonade while standing.

Staging to Sell

Spring selling season is upon us and it’s time for a refresher on staging tips. With inventory still high, and so many properties competing with yours, you will want to do everything you can to help your property stand out from the others.

Real estate expert Barbara Corcoran said recently during an interview that a buyer decides if he or she has interest in a property within 8 seconds of walking through the door. That doesn’t leave much time to make a good impression! Use every second wisely by considering some of the following suggestions.

1. Curb appeal is important. When a buyer approaches your house, he or she makes the first judgment. Make sure your house is nicely painted. Repair that broken screen door. Tidy the front yard and plant some flowers. The buyer should feel drawn into the house and made to feel welcome by a warm and inviting entry hall.
   
   
2. Clear your house of clutter and personal belongings and scrub the house to within an inch of its life. Since your goal is to move out of the house, start packing today. Eliminate as many knick knacks as possible. Pack away any collections and replace photos of friends and family with neutral artwork. As far as cleanliness, everything should sparkle.
   
   
3. Straighten your closets and cabinets. Expect that buyers will open every door and cabinet. If your closets are packed to the gills, it will leave the buyer with the impression that the house does not have enough storage space.
   
   
4. Take the packing a step further and put extra furniture in storage. A sparse and simple approach to furnishings will make your rooms appear larger. Define a use for each room and furnish it accordingly. If you have a bedroom that has become a ‘junk room,’ pack the junk away and make the bed with inviting linens. It is important to show the buyer how the space can be used. When rearranging furniture, pull pieces away from the walls and keep in mind that you want to have a clear walking path between rooms.
   
   
5. A fresh coat of paint is inexpensive and goes a long way to making your home feel clean and fresh. Keep the colors earthy and neutral to appeal to the broadest audience. If you have a brightly colored room, consider re-painting it.
   
   
6. Shed some light on the subject. Open the blinds and turn on all the lights for showings. Bright spaces appear larger and overall create a positive impression. If you have heavy or dark drapes, consider replacing them with light colored window treatments.
   
   
7. Remove evidence of pets. When you are expecting a showing, pack up the pets and take a drive. That includes stowing away dog beds, crates and food dishes.
   
   
8. Make sure the house smells nice. Baking cookies before a showing makes the house smell yummy and inviting. This bit of advice is an oldie but goodie.
   

The common thread behind all of these suggestions is to present your home in as neutral a manner as possible so that the potential buyer can envision him or herself living in the property. While it is possible to achieve these goals on your own with very little expense, don’t rule out calling a professional stager to assist you if you are feeling overwhelmed. Being a proactive seller will ensure that you have done everything possible to help your property rise above its competition.