In a market like this, it can be hard to look at a price tag and know if you’re getting a good value.

Many properties have had price reductions in the last several months as Sellers chase the cascading market. But a discount from a hugely inflated figure may not be a bargain. Even though Sellers are aware of the fallen market, some still believe that their homes are the exception. There are, however, many well-priced homes available. Some owners feel pressure to sell quickly, and set their prices accordingly. Others who bought before the market heated up feel more freedom to accept a lower price.

So how do you find a property’s true worth? Sheer numbers do not always communicate the true value of a property.

Aspiring Buyers have to consider whether the property has VALUE THAT WILL HOLD UP OVER TIME, so that even if prices don’t begin rising soon, the purchase will not be a mistake. Obviously, Buyers have to consider the location, the amenities, the quality, the views etc. that it offers. With this in mind, a Buyer can easily look at statistics and see what similar properties have sold for. You can even get down to the nitty gritty and compare price per square foot. It’s important to look at such sale comparisons in both, the recent low market, as well as the past high markets, so that you can estimate a property's long term value. This is easy and basic homework that any and all Buyer’s should be doing when researching a property to purchase. Deb Camuso can help tremendously with such due diligence.

Buyer’s also have to seriously consider and understand a property’s “uniqueness”. This is especially important in the Outer Cape in towns like Provincetown, Truro and Wellfleet. So many properties in these towns cannot be replicated today because of the National Seashore, local and state bi-law and zoning changes etc. Many properties out here are pre-existing and non-conforming making them especially unique because the land use, the house design, etc. simply can’t be replicated today. You know the old saying….”they just don’t make them like this anymore….”. There is SUBSTANTIAL additional true VALUE in these types of properties and the Outer Cape is full of them.

So when looking for a good deal in today’s Cape Cod real estate market, it’s not focusing so much on ‘is it the cheapest,’ but looking at it’s core value to help determine it’s long term worth.