Kinlin Grover BK Real Estate



Posted by Kinlin Grover BK Real Estate on 3/13/2016

     Last week I talked about the Cape Cod real estate market so far in 2016.  It has continued to be busy.  In the last two weeks, I have put under agreement.4 houses, ranging from the $230,000 range to almost $2,000,000, and also have done two year round rentals.  I also listed one house this week and have several other listings which will be coming on the market shortly.  So things are busy.

      I moved to Centerville from Oswego, NY in 1977 to work in the Barnstable Public School system as an elementary school counselor.  When my wife and I were here for the job interview, we went out to dinner and mentioned to the waiter that we were possibly moving to the area.  He immediately said that Centerville was the best place on the Cape to live.  We house sat for a couple of months in Harwichport, and then bought our house in Centerville village in April of 1978.   The waiter was right, Centerville was the best place for us.  Despite going into real estate in 1979, we have never moved.  My wife, Susan, and I raised 8 children in that house, and we still love it.  We walk through the village each night with our dog, and think how beautiful the village is.   We are a mile from the beach and on a quiet side street.  We are a walk to the elementary school, and 5 minutes to the middle school and the high school.  All 8 of our children attended the Barnstable Public School system K-12.  They all went to 4 year colleges, and all graduated with honors in 4 years.  The Barnstable Public School System prepared them very well.  Another plus of living in the Town of Barnstable is that the town extends from the north shore of the Cape to the south shore.  Therefore, Barnstable has both northside and southside beaches.  And for the past several years, the town has had a residential tax exemption program wherein if you are a year round resident of the town, your taxes are reduced by $800-$900 depending on which fire district you live in.  For our family, Centerville and the Town of Barnstable have been wonderful.  I had mentioned previously in another blog that there is great pride in where you live on Cape Cod.  Obviously, I feel the same way.  Next week, I will discuss something else.  Not sure what, but something will come to me.




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Posted by Kinlin Grover BK Real Estate on 3/6/2016

     So far, the year is off to a very good start.  Because the weather has been so much better than it was last year, it appears that our spring market, which is the busiest time of the year, will occur at a more normal time.  That normal time is March, April, and May.  There are certainly buyers around now, and there is also somewhat of a shortage of listings for sale.  That is especially true under the $300,000 price point.  Properties listed under $300,000 are selling within two weeks of being listed, some times with multiple offers.  This past week in my office BK Real Estate, Inc., we have had 4 offers submitted on different properties; 3 of them have been accepted and the 4th one is still being negotiated.  I see the spring market as being very strong.  I have several new listings which will be coming on the market in the next couple of weeks, and they are all quality homes which should be well-received by the market.  The rates continue to be very low, so it is still a great time to buy.  However, buyers this spring may find a lot competition when they make an offer.  I would encourage the buyers to be aggressive if they see a property they like,  and if they make an offer, they should be aggressive and decisive in terms of what price they will offer.  Also, it is more important than ever for a buyer to be pre-approved.  It should be an exciting year in Cape Cod real estate.  Nest week more on this year's spring market on Cape Cod.




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Posted by Kinlin Grover BK Real Estate on 2/23/2016

     Cape Cod is a very interesting and unique area in which to sell real estate.  I have been doing it since 1979.  One of the most special aspects of the Cape is that where ever someone lives on the Cape, they will tell you that is the best place to live on the Cape.  People in Centerville say Centerville is the best place to live,, people in Dennis say Dennis is the best, and so on.  I think it is a very special feature of Cape Cod living that everyone has so much pride in their community.  Another strong component in making Cape Cod a good real estate location is that it has pretty much every type of real estate possible except for being able to live in a high rise building.  You can buy property on saltwater, freshwater, in a village setting, or in the country.  There are antiques and new homes as well; fixer uppers or state of the art new homes.   Also each separate town and village has a uniqueness to it.  You can be in a beach area where it is mostly summer people or you can be in a village where there is a strong year-round community.  You can be in the country and have horses.  From an education standpoint, there are good public schools and now a number of private and parochial schools as well.  Lots of golf courses, great swimming, boating, and fishing, plus you are only 75 minutes from downtown Boston if you need or want to have the opportunity to enjoy the museums, theatres, sporting events, etc. that are available in a big city.  Healthcare is very good on the Cape, and also in Boston.  Cape Cod is a great place to live and to play, to raise a family, or to retire.  If I lived somewhere else, I might not be in real estate.  Every year we have thousands of visitors to the Cape, many of whom say that when they are able to, they would love to buy a home on Cape Cod.  So we always have a steady supply of new potential buyers.  Next week, I'll give my evaluation of how the 2016 real estate year has started out and my sense of how I see the year unfolding.




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Posted by Kinlin Grover BK Real Estate on 2/13/2016

      I have been listing and selling property on Cape Cod since 1979.  Over the years from then until now, the Cape Cod real estate market has certainly become much more of a year round situation.  When I first started in 1979, the spring was far and away the strongest selling market of the year.  The fall season was second best, summer third, and winter was by far the slowest selling season, almost to the point where very little property sold after Thanksgiving.  The spring market typically did not start up until March at the earliest.  Now as I said, Cape real estate market is active year-round.  However, the most active selling periods of the year have remained the same.  In spring, everybody wants to buy and be in for the summer, usually by Memorial Day.  The fall is strong especially after a summer in which the weather has been good.  In that type of fall market, people are buying because they enjoyed their summer rental on Cape Cod so much,  that they decide it would make more sense from an economic standpoint to buy a house, use it whenever they want, and then rent it seasonally to recoup some of their investment.  When the spring market starts is totally dependent on the weather, both on and off Cape.  If the weather is good both on and off Cape then the spring market tends to start earlier.  Last year because of the poor weather the spring market did not really start until May which is very late.  This winter despite the upcoming cold and the recent snowstorms has seen more activity than last winter.  Historically the best time to buy on the Cape is in the winter, say from November to January.  If you are looking for a deal, that may be your best opportunity because in November, the seller has just had to pay real estate taxes and also the house has to be heated and maintained through the winter.  If there is no one to look after the house, there is always the possibility of frozen pipes and a big problem.  So the seller might be willing to sell at a better price in the winter.  However, each home sale is an independent event.  How motivated the seller is can change from day to day and minute to minute and it often does. Next week, I'll speak about the uniqueness of the Cape as a real estate investment.




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Posted by Kinlin Grover BK Real Estate on 2/7/2016

You have accepted an offer on your property, and next up is the Buyer's home inspection.  The Buyer chooses the home inspector and also pays for the inspection.  The results of the home inspection therefore belong to the Buyer.  As the Seller, you will probably only see the inspection report, if there are issues which the Buyer wishes to bring to your attention.  As with the Buyer, your reaction to the home inspection is somewhat dependent on how you feel about the offer you have accepted.  If it is a very strong offer, and the price is great, then you should be more accommodating to the Buyer's requests.  If you have accepted a low offer, then you are not in a position to be as accepting of the Buyer's requests.  I have had Sellers tell me that they will accept a certain offer, but if they do, then they are selling the house "As Is".  I tell this Seller that I understand their position, but will not phrase it that way to the Buyer.  Instead, I explain to the Buyer that he/she is entitled to a home inspection, but because the Seller is accepting a low offer, he/she will not be very receptive to a price reduction or to making any repairs.  My experience has been that if you say "As Is", the Buyer becomes suspicious that the Seller is aware of an issue and is trying to hide it.  Regardless of what price a Seller has accepted, if the home inspection finds a legitimate safety issue, such as a defective electrical panel box, then the Seller should address that issue.  If they don't and the deal falls apart, then as the agent when I show the house to new Buyers, I have to disclose that the panel box is defective and needs to be replaced.  Then the offers which we receive after that disclosure will be reduced by the cost of the new panel box.  It would make more sense to fix it for the original Buyer than to say no, and then have start again with another Buyer.  Another issue that sometimes comes up from a home inspection is that the house has termites, carpenter ants, or radon gas.  I encourage Sellers to make these types of repairs.  If the Seller had known any of these issues were present, most Sellers would choose to take care of them.  Some Sellers ask whether or not they should pay for a home inspection prior to putting the house on the market.  It's not a bad idea, in that you can find out any issues that this particular inspector finds, and then address them.  That can't hurt you, but the Buyer will still normally choose to do their own inspection, and that inspector may find some other issues.  Next week, some general thoughts about the Cape Cod real estate market.




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