The Cape and Islands are fragile ecosystems. Build-out is seen by many as a threat to the environment. Yet your business depends on building more and more. How do you reconcile this?

The University of Massachusetts Donahue Institute conducted a survey of a random sample of 16,000 second-home owners on Cape Cod for the Cape Cod Commission in the winter of 2007-2008.

As the summer vacation rental season on Cape Cod, Martha's Vineyard, and Nantucket is now in full throttle, booking rates continue to make a strong comeback from a slow start to the season a few months ago, according to new data released by WeNeedaVacation.com.

A slow but steady increase in real estate activity continues in Plymouth County, reported Register of Deeds John R. Buckley, Jr., as the number of sales and mortgages climbed again during the month of June.

Barnstable County Register of Deeds John F. Meade reports that the volume of real estate sales in June 2009 was down 20.3% from June 2008 volume and the total value of sales was down 29.9% from the previous year.

Year over year, it is not a pretty picture. But, prices are rising as the summer approaches.

Refinance activity continues at a steady pace in 2009, reported Plymouth County Register of Deeds John R. Buckley, Jr., as April marked the third consecutive month in which Plymouth County saw increases in mortgage volume, total mortgage value and average mortgage amounts in comparison to the same period in 2008.

Cape Business Health & Wealth has partnered with the Cape Cod and South Shore chapter of the National Association of the Remodeling Industry to help educate our readers on how to best preserve and grow your home investment.

The National Association of the Remodeling Industry educates and certifies home remodelers on Cape Cod and the South Shore. We interview its former president, Dale Nikula, owner of Encore Construction in Dennis, to learn how this organization works to help consumers.

Despite the recession, we are investing in our homes – enjoying them more in lieu of expensive travel and spending prudently to preserve their future value. Expect more green strategies, electronics and lots of outdoor living

During recessions, people spend more time at home. Here are five ways to enjoy your Cape Cod abode – without spending a lot of money

When remodeling your home, it is important to consider whether your changes will add real investment value. Conventional wisdom holds that work done on kitchens and bathrooms will recoup the greatest percentage of your spending.

In today’s tough economy, it is more essential than ever to effectively market your vacation rental home. You can easily do this on your own – and save thousands of dollars in commissions.

In a pleasant change, there is some good news on the real estate front. Lower interest rates and a spring market combined to increase the number of sales and mortgages recorded in Plymouth County last month, reported Plymouth County Register of Deeds John R. Buckley Jr.

While the woes of the residential real estate market are a frequent topic of conversation, the commercial market is actually holding its own in this challenging economy. This recent commercial transaction is just one of many in the region.

While the number of real estate sales fell in February, Plymouth County recorded more mortgages than it had in the previous ten months, Register of Deeds John R. Buckley, Jr. reported. There are some very attractive rates out there that more and more borrowers are taking advantage of, Buckley noted.

Barnstable County Register of Deeds John F. Meade, reports that the volume of real estate sales in February 2009 was down 21.8% from February 2008 volume and the total value of sales was down 28.4% from the previous year. The individual property sale value was down 24.3% from the previous year.

While investment sales have tanked in most U.S. markets across every property type, interest remains keen in sale-leaseback transactions as more cash-strapped companies look at their non-income-producing assets as an alternative capital source for reducing debt or funding operations. Businesses of all types, under pressure to quickly boost liquidity, have stepped up their push for sale-leasebacks as an avenue to monetize their assets. Banks have sold off their retail branches and office buildings in response to declining capital positions. Retailers have sold and leased back store locations, corporate headquarters offices and distribution facilities, in response to steep declines at the cash register.

New construction permits issued on Cape Cod in February 2009
Source: The Building Report

Sign of the times: Catania Hospitality Group extends reach beyond tourists with grand opening of the Cape Codder Residence Club

While the woes of the residential real estate market are a frequent topic of conversation, the commercial market is actually holding its own in this challenging economy. Ben Stout of Atlantic Properties has provided a sampling of recent transactions in Plymouth County—showing a clear diversity of businesses and properties, and a certain confidence in the region’s economic future.

Move reflects rapidly changing real estate industry on Cape. At same time, former president of state Realtors association merges his Falmouth agency with Cape's largest company

Kinlin Grover GMAC Real Estate, now with 13 offices from Provincetown to Sandwich, has extended its No. 1 market share on Cape Cod by welcoming Falmouth-based Century 21 Dream Homes into the company.

Plymouth County was the exception across the state and nation. The improved local activity, however, appears to be a direct result of a particularly sharp drop in home prices in 2008 - and so far at least through last month

That home you considered buying or selling last January? Well, it now is valued at nearly $50,000 less. The median price for a single-family residence on Cape Cod has dropped from $323,000 to $275,000 in the last year, according to just released numbers from the Barnstable County Registry of Deeds. The big question: Have prices fallen enough to finally lure buyers back into the market?

End-of-the-year housing reports from two sources provide some comfort to the Cape and South Shore markets. On Cape Cod, final sales numbers issued by the Massachusetts Association of Realtors for 2008 show only a 2.7 percent drop from 2007. Another report from The Warren Group – with a slightly different total sale number – has Barnstable County down only 1.2 percent.

2008 Cape home sales down 10.5 percent; home values drop 11.9 percent

Permits issued from April to October 2008
Published in Cape Business Jan/Feb 2009

The sales of high-priced homes on the Cape -- those averaging nearly $2 million -- fell by 25 percent between 2007 and last year, yet average prices held virtually steady.

Fewer homes sales, mortgages and dropping residential equity has taken its toll on bank lending. In recent weeks, however, lower interest rates have created a boom in refinancing current home loans.

Indications from our anonymous online survey are that, unsurprisingly, second-home owners are largely not in favor of proposals to tax rentals on these private homes in much the same way hotel and motel rooms are taxed.

Barnstable County Register of Deeds, John F. Meade, reports that the volume of real estate sales in December 2008 was down 10.5% from December 2007 volume and the total value of sales was down 17% from the previous year. The median individual property sale value was down 11.9% from the previous year. There was a 23% decrease in the volume of mortgage activity from December 2007 levels.

New construction on Cape Cod

Could it cook the golden goose?
An analysis

Is there anything positive about a lagging economy? Quite possibly, especially if you or a friend or relative are considering investing in a Cape Cod vacation rental home. Hundreds of full-time Cape Codders actually own another home here for investment purposes.

Plymouth County real estate sales in November remained on roughly the same pace as in recent months, with the volume of deeds down 10% from 2007, reported Register of Deeds John R. Buckley, Jr. Through eleven months of 2008, Plymouth County has recorded 6,912 deeds, down from 7,709 during the same period last year.

Data just released by the Barnstable Country Registry of Deeds indicates the nationwide economic slump hit the local residential real estate market hard in November.

It may still hurt on Cape Cod, but imagine if your full-time or second home were in Florida, California or Nevada right now. Click the headline to see what is happening to home sales and prices in your town.

On the heels of sluggish sales in August and September, Plymouth County’s Register of Deeds reports an increase in the number of home sales and refinances during October.

It’s always been about supply and demand. Home prices across Cape Cod have dropped enough that after nearly three years, there is growing evidence of renewed demand. Could the floor finally be forming under the fragile home market here?

The Village may be a model for Hanover's future.

Several residential projects are catering to the baby boomers. Will the concept hold up during the housing downturn?

An ambitious mixed-use development, a new Target store, the prospect of a hotel and conference center, the widening of Route 53, the completion of three new 55-plus housing communities and prospects for a new $60 million high school.

“When Hanover Mall opened, it changed what was a country road into a major thoroughfare,” recalled Realtor Dick Stevens, who moved to Hanover in 1976. “Consequent development has been both positive and negative, but overall, it has added to the quality of life – not only for Hanover, but for the entire region,” he says.

Economist panel sees shallow slowdown followed by gradual recovery

“Who wouldn’t want to buy a house on Cape Cod today? Most homes are reasonable priced to sell, the inventory is plentiful and mortgage interest rates are favorable.”

Cape Cod’s largest town sees opportunity in arts, culture, mixed-use development and professional services focused around nearby water amenities

Once held back by restrictive town zoning and strict county regulation, Barnstable is beginning to attract smart growth downtown

Centerville, Craigville Beach and other Barnstable neighborhoods move toward small-scale commercial and residential development

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The home market across Cape Cod and Plymouth County certainly has felt the sting of the nation’s housing downturn. Signs of optimism early in 2007 continually eroded, with forecasts of a recovery first expected last fall now postponed at least until this autumn.

What to expect in the coming year?

We spoke to a number of local real estate brokers about the current market and how to sell or buy your home under today’s conditions. Here are some of their recommendations:

It’s never been a more competitive time for those who want to rent their house. To get the best price and make your tenants happy, consider these tips offered by Joan and Jeff Talmadge of WeNeedaVacation.com, which lists more than 3,000 Cape and Islands vacation rentals.

Cape Business asked Charles Robinson, President and CEO of Rogers & Gray Insurance Agency, Robert W. Miller, principal of Dowling & O’Neil Insurance Agency, Jeff Helm of Atlantic Advisers Insurance Agency Inc. and Geoff Gordon of Andrew G. Gordon Insurance Agency Inc. for their perspective on the residential insurance front for 2008. Their insights offer cautions to homeowners, but a growing sense that there may be some relief in sight. These are excerpts from our interviews:

The outdoor living market is being driven by baby boomers, second-home owners and retirees. They are fueling trends we saw emerge in 2007 that are accelerating into 2008. It’s about convenience, saving time and enhancing the home’s investment value.

There are a variety of ways to add interest to your garden this year – here are some of the top trends:

Energy-saving, environmentally friendly ways to conserve natural resources, save money and contribute to a more sustainable world

Believe it or not, advancements in product and technique have allowed homes today to be built of styrofoam. In fact, Cape Cod builder Todd LaBarge of LaBarge Homes has become a passionate advocate of Insulated Concrete Form home construction, which uses foam forms and poured concrete for stability and energy conservation.

I was asked that question by Karen Hube, who was writing a special report for the Wall Street Journal titled: “Yes, real estate can still help your nest egg.”

Despite current uncertainties facing the residential market, activity remains strong for the commercial side of the industry. Land that once cost $100,000 an acre is now in the $200,000 to $300,000 range – and rising.

On December 1, 2007, Fresenius Medical Care moved into their new regional administrative offices at Bank Plaza in downtown New Bedford. Sea Watch Realty, Inc. brokered the 8,049 s.f. lease transaction between Fresenius Medical Care and Bank Plaza, LLC at 700 Pleasant Street in New Bedford.

On December 28, 2007, Sea Watch Realty, Inc. sold the 10,700 s.f. banking and retail property located at 350 Front Street, in Marion, Massachusetts.

It’s called 40R; and it’s at the heart of North Plymouth’s renaissance.

Joe and Lou Jannetty’s latest endeavor seems to have all the elements for success – the 3-quarter-mile waterfront, the Old Colony train station, the surrounding infrastructure, Plymouth’s rapidly changing demographics and economy.

This town within a town reflects Plymouth’s rapid transformation – among residents and businesses.

Saxon Partners built Colony Place with confidence the shoppers will come: It’s not quite a corn patch in Iowa transformed into a magical baseball diamond, but it’s the Plymouth version of a field of dreams.

Is it time to buy? Sell? Upgrade?

December 5, 2007 -- On November 29, 2007, Sea Watch Realty, Inc. sold the recently constructed 10,000 Sq. Ft. two story office building located at 372 North Street, Hyannis Massachusetts. Both floors of the new office building were designed to include two 1,560 Sq. Ft. suites and one 725 Sq. Ft. suite as well as a common area that includes a foyer, stairwell, elevator and handicapped equipped restrooms.

On November 15, 2007, Sea Watch Realty, Inc. sold the 9,000 s.f. +/- retail/ mixed use properties located at 75 and 79 Davis Straits, Falmouth, Massachusetts. The property, which contains three buildings including a restaurant, retail, catering kitchen and apartment, was sold to a private investor. Ben Edgar, President of Sea Watch Realty brokered the transaction between the Seller and the Buyer. Assisting in the transaction was Nassos Prappas of Olympic Group Realty who represented the Buyer.

December 15, 2007 -- Sea Watch Realty, a leading provider of commercial services to corporations, institutions, and the private market, has brokered a 7,000 SF office lease. James Gill, Broker represented the tenant, UBS, a global financial services firm. The site, Shallow Pond Professional Center on Route 132 in Hyannis, is being developed by the Keller Company of Osterville.

For the second year, the American Business Women’s Association of Cape Cod has collaborated with Cape Business to honor the Woman Entrepreneur of the Year. This year’s award was bestowed on Lori LaBarge of LaBarge Homes.

Recently, top local chefs congregated in a demonstration kitchen at the new Complete Home Concepts in Plymouth to share their cooking prowess with scores of local businesses. The scene was a far cry from the simpler roots of an Orleans lumberyard founded in 1895 by a seafaring captain, Oscar Nickerson, whose first full year in business recorded $9,200 in sales.

Do you have a large portion of your balance sheet tied up with your real estate assets, effectively making only a 7.5 percent to 8 percent return on value in today’s market? If so, that money invested in bricks and mortar might be better spent elsewhere.

July 31, 2007 -- Sea Watch Realty, Inc. today sold the 30,000 s.f. retail plaza located at 331 State Road (Route 6), in North Dartmouth, Massachusetts.

The housing market is in the doldrums. Builders are pulling back. Commodity prices are rising. So why is Tony Shepley expanding his Shepley Wood Products company beyond his longtime Hyannis base?

June 27, 2007 -- Sea Watch Realty, Inc. is pleased to announce the opening of its fifth office located at 159 Samoset Street (Old Rt 44) in Plymouth, MA. Stephen Kauffman will be based in the office. Ben Edgar, owner and president of Sea Watch Realty, makes the announcement as the company continues to expand it’s commercial real estate and business brokerage business in Southeastern Massachusetts.

July 2, 2007 – Susan Aufiero and Carol Anderson have recently joined Davenport Realty in South Yarmouth as real estate associates.

It’s a haven for mini-golfers, a summer playground for tourists, a jumble of clam shacks, restaurants, motels and cottages. It’s too busy in summer and too quiet in winter. It’s a blessing and a curse. It’s Yarmouth’s stretch of Route 28, fraught with challenges and full of possibilities that – until now – haven’t been fulfilled.

An old economic adage says: If you want more of something, subsidize it; if you want less, tax it. Challenging this principle, some political leaders are ramping up efforts to increase a 9.7 percent hotel tax – and expand it to summer home rentals.

‘1031’ could be a very lucky number for Rockland Trust. It already is for two entrepreneurs whose business, Compass Exchange Advisors LLC, was recently purchased by the bank.

Two years into a national housing slump, Cape Cod builders are experiencing strength in renovation and remodeling work, particularly among baby boomers approaching retirement. However, the forecast for new construction remains cloudy, except for tear downs and high end buyers looking to build exactly their right house.

The mortgage lending industry on Cape Cod is adjusting to rapid – and often unprecedented – challenges. It’s not just the succession of interest rate increases and a slowing sales market. It’s also increased competition created by a surfeit of mortgage products and providers, combined with advances in technology that lets customers find lenders as far away as California.

Charitable gift annuity trusts can reduce the tax burden on the sale of your home.

Home staging is a relatively new trend, but it has begun to take a foothold on the Cape, where real estate is a profession for many and a hobby for many more. We have profiled a few of the firms on Cape Cod exploring this new field.

If pre-fabricated housing conjures an image of a trailer home, think again. On Cape Cod, modular residences easily could cost $1.5 million or more.

Should you consider turning your equity into income during retirement?

Cape Business met with its panel of home builders and suppliers to gauge their mood about the housing economy and to hear their predictions for the year. We hope this report provides guidance to you as you build and protect your real estate investment on Cape Cod.

Not long ago, landscaping on Cape Cod was limited to seeding and mowing lawns – maybe some sod, if you wanted to get fancy – and trimming hedges. And it was reserved for front lawns; back yards were by and large left alone, with pine needles providing a carpet for bare feet.

The New Year did not bring good news on the homeowner’s insurance front. Cape Cod continues to see the effects of hurricane modeling; insurers are leaving this market and rates are continuing to rise.

More homeowners and renters demand to be treated as they would at an elite hotel or quaint B&B.

Just as we did last year, Cape Business editors met with its homebuilder’s panel to gauge their mood about the economy and forecasts for the coming year.

Cape Cod commercial real estate is an anomaly. Demand is as strong as ever. Vacancy rates are low. Long-term fundamentals are good, as population, income and jobs increase. Capital is available for commercial construction.

Companies selling and leasing commercial real estate here are as diverse as the Cape itself. Their business models vary like night and day.

Cape Cod’s real estate sales industry is undergoing a revolution, along with a much-publicized housing slowdown. Like other businesses around the world, real estate is adapting to the electronic age.

Cape Business asked Rick Presbrey, founder and CEO of the Housing Assistance Corporation, about a call to action recently released by HAC and the Cape Cod Business Roundtable on workforce housing.

Cape Business spoke with Lynn E. Browne, Ph.D., executive vice president and economic adviser at the Federal Reserve Bank of Boston.

November 28, 2006 – Massachusetts home sales fell by double-digit percentages in October, and the median sale price of single-family homes dropped 6.9 percent compared to October 2005 -- according to a report released today by The Warren Group.

September 20, 2006 -- After a drop in housing inventory, September has seen the supply of unsold property on Cape Cod spike once again. From a peak of 6,873 properties in mid-summer, the inventory number dipped as low as 6,765 during the first week of September. But as of this week, that number had risen again – to just above 6,850, according to Cape Business’ partner, Cape Property Search.

It’s called the Golden Triangle, the largest undeveloped commercial area remaining in Sandwich. For years, officials have sought clean, high-technology industry to generate jobs and tax revenues in this southern section of Sandwich below the Mid-Cape Highway. The triangle is bounded by Cotuit Road, Quaker Meetinghouse Road and Route 130.

June 5, 2006 -- Barnstable County Register of Deeds John F. Meade reports that the volume of real estate sales in May 2006 was down 21.3 percent from May 2005 volume and the total value of sales was down 6.6 percent from the previous year. The median individual property sale value was down 0.75 percent from the previous year. There was an 8 percent decrease in the volume of mortgage activity from May 2005 levels.

Jack Conway is the first to arrive this Monday morning at his new Hyannis offices opposite the Cape Cod Mall on Route 28. At 82 years of age, this former sportswriter may boast of his expansive Conway Country – 45 real estate offices from south of Boston to the Cape – but he does so with a most unassuming air.

For anyone who rushed to purchase a Cape Cod home in the last few years in hopes of high appreciation, it’s time to think again. A CD is returning nearly three times the annual rate of return than a new home here.

May 4, 2006 -- Real estate agents across the Cape are experiencing about a 15 percent drop in activity from last year, and the latest data from the Barnstable County Registry of Deeds more than confirms the declining trend for both sales and home prices.

To view or download new construction permits on Cape Cod issued in April 2006, please click here.