Price reductions on Cape and Islands real estate listings are like summer tourists - ever present, welcome for some (buyers) and an annoyance to others (sellers). We went in search of the highest and lowest July pricechops and think we found the end points, from $1,100 to $1,199,000. We came across a few $100 pricechops, but then we noticed that those listings were all short sales and it all became clear. Silly Banksters. Anyway, for your clicking pleasure, here are the Cape and Islands noteworthy pricechops.
Over on Nantucket, at 5 Beacon Lane, we find a waterfront three bedroom with three full and two partial baths. Built in 1988, the contemporary style house includes large windows and oversized decks with water views of Sesachacha Pond, Sankaty Lighthouse and the Atlantic Ocean. First listed in October 2011 for $6,999,000 a July 7 pricechop brought the ask down $1,199,000 to $5.8M. The 17 percent reduction was the first pricechop for the property. So, will that do the job?
· Listing: 5 Beacon lane, Nantucket [Zillow via Maury People Sotheby's International Realty]
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Over in Harwich, at 28 Ellen's Way, we find a three bedroom, two bath cape built in 1970. The remodeled 1,428 sq. ft. space includes a new kitchen with granite countertops, stainless appliances and maple cabinets. There are new windows, siding, refinished hardwood floors, and the yard has been "professionally landscaped." Is that who left the hose out? The .23 acre property is located close to Andrew's Pond, the Cape Rail trail and four lakes. The property sold in March for $168K and was relisted in May for $299K. Since then, there have been five pricechops. The latest slice on July 20 brought the price down $1,100 to $279,900. This flip isn't a flop just yet, but do you think the julienne slices are doing much?
· Listing: 28 Ellen's Way, Harwich [Zillow via Trulia]