Monthly Archives: May 2020

Housing Market Positioned to Bring Back the Economy

Housing Market Positioned to Bring Back the Economy | MyKCM

It feels a little uncomfortable with people still falling prey to the virus and so many out of work to be talking about real estate.

But, with all eyes on the economy, the answer to the question “which sector will drive the recovery?” is the housing market.

Some may doubt that claim as they remember the recession in 2008 when housing was the anchor to the economy – holding it back from sailing forward. Back then, the recovery didn’t begin until the real estate market started to regain its strength. This time, the housing market was in great shape when the virus hit.

As Mark Fleming, Chief Economist of First Americanrecently explained:

“Many still bear scars from the Great Recession and may expect the housing market to follow a similar trajectory in response to the coronavirus outbreak. But, there are distinct differences that indicate the housing market may follow a much different path. While housing led the recession in 2008-2009, this time it may be poised to bring us out of it.”

Fleming is not the only economist who believes this. Last week, Dr. Frank Nothaft, Chief Economist for CoreLogic, (@DrFrankNothaft) tweeted:

“For the first 6 decades after WWII, the housing sector led the rest of the economy out of each recession. Expect it to do so this time as well.”

And, Robert Dietz, Chief Economist for the National Association of Home Builders, in an economic update last week explained:

“As the economy begins a recovery later in 2020, we expect housing to play a leading role. Housing enters this recession under built, not over built…Based on demographics and current vacancy rates, the U.S. may have a housing deficit of up to one million units.

Every time a home is sold, it has tremendous financial impact on local economies. As the real estate market continues its recovery, it should act as a strong tailwind to the overall national economy.


As an organization, Today Real Estate(TRE) hasn’t retreated in the face of the virus crisis. Because of the latest technology, we’ve been able to stay in touch with our clients and successfully work with those who needed to go froward with their plans. For example, over the last few weeks we’ve helped people dealing with job transfers and military families relocating to the Cape.

TRE has continued its advertising program and this week unveiled a new digital and print magazine:

http://hometeamadvantagetoday.com/spring2020

Now more than ever, if you don’t have a presence on social media, you don’t exist and we’ve remained aggressive. To see samples of recent postings, please visit our YouTube channel Mari Sennott and Assoc where we archive some of our work.

If you’re interested in marketing your home, we’d be happy to meet with you via Zoom or other technology or in person, but socially distant, to talk about our successful promotional plan and how we can best help you meet your goal. Please contact us at 508-568-8191 or msennott@todayrealestate.com. Thanks.


Do you like to cook?

In March, Mari started a Facebook group Cape Cod Dining at Home (and anywhere else) to encourage people to share what they were cooking at home and where they were getting their takeout. It was our small — we thought — way to support local restaurants.

In just two months, the group has grown to over 2,300 members! There are competitions judged by local restauranters; the winner of last week’s grilling competition was picked by 5 Star Ribs in Sandwich. The winner will be receiving a rack of 5 Star’s fabulous ribs.

Each week a different photo of a meal, salad or dessert is selected as the lead photo on the group page.

We also hope to publish a cookbook in time for the holidays with proceeds benefiting local non-profits.

It’s fun, it’s stress free, and you can get some good ideas. Please consider joining. Thanks.

Stay healthy; stay optimistic

Mari and Hank

Working at home on the Cape

We all know people who have been waiting for the right time to move to Cape Cod. Quite often the decision is linked to getting closer to retirement or a job change that results in a less taxing commute.

In the months leading up to the quarantine, we helped several clients purchase houses that were to be used as second homes in the short term and for retirement in the future.

Now with government leaders urging companies to continue work at home policies and a number of industries learning that employees can effectively function remotely, a major stumbling block that has kept many people from moving to the Cape permanently has been removed.

Couple this development with a suggestion from housing industry experts that city dwellers, particularly those who were confined to high rises during the quarantine, will be looking for safe getaways and the Cape housing market is potentially in a very strong position for the rest of this year and 2021.

It’s hard to find a silver lining after all we’ve been through, but property owners on the Cape, who have been thinking of making a change, may emerge from this crisis with an increased demand for their homes.


Statistics are indicating that we have begun to turn the corner nationally and locally on the housing market slow down.

The next graphic, which tracks home showings as recorded by ShowingTime, the real estate industry’s leading showing management and market stats technology provider, illustrates that earlier this month activity rebounded to January levels.

Here

Even better news is that at the end of April, total closed sales on Cape are down only 2.2% this year over the last year (1,070 vs. 1,046).

The median sales price of single family homes last month was up over $17,000.00 when compared with a year ago. Year to date, median prices for single family homes are up 4.2% when comparing this year and last! ($420,000.00 vs. $437,500.00)

So, in the midst of everything that’s been going on, the real estate market on Cape has remained active and strong.

These results should be a call to action, especially for sellers, who have been hesitating to market their homes.

If you’re still debating whether the time is right for you to upsize, downsize or finally own your first home, we’d be happy to meet with you virtually or at a safe distance to review your options and share the currrent statistics and trends. Please contact us at 508-568-8191 or msennott@todayrealestate.com. Thanks.


Signs like this one have been popping up in our hometown and elsewhere congratulating the Class of 2020.

Whether pre-school, high school or college, this year’s graduates will have a special place in history as the group that persevered in the face of unexpected challenges.

Congratulations to everyone.

Stay healthy; stay optimistic…

Mari and Hank

Keeping It In Perspective

It’s hard not to be confused these days with all the information that’s being pushed at us.

It’s enough to make you want to turn off the TV and disconnect from the Internet.

While we can’t speak to the medical issues, we can offer some perspective about the economy and the housing market. As you know, we make it a point to stay in touch with experts on the local, state and national levels, so we can offer the best advice we can to our clients. (Note: We’re not financial advisors.)

The media is reporting that the current unemployment rate is on par with the Great Recession and Depression. But it also important to know that major financial institutions expect the high rate to be short lived.

While our hearts go out to those who have lost their jobs or are currently furloughed, we also need to remember that most of us (thankfully) are still employed. It’s probably safe to assume that it was virus related restrictions and concerns — not necessarily the economy — that caused most buyers and sellers to put their plans on hold.

In terms of the housing market, we are where we were in March. It’s a sellers market with a buyer pool that is arguably getting deeper. As the weather improves and restrictions are lifted, buyers will become more active looking to be settled on the Cape in time for their stay-cations. So, savvy sellers should begin marketing their homes sooner rather than later to beat the competition.

If you’re ready to discuss your options as a buyer and/or seller, we’d be happy to meet with you to discuss current conditions and how we can safely market your home using the latest technology. (See the next section.)

Please contact us at 508-568-8191 or msennott@todayrealestate.com. We can meet virtually or at a safe distance wearing our masks.


One of the “positives” that has come from our virus crisis is how we’ve all learned to innovate to do our jobs. Many have discovered that working at home is a viable option to the daily commute. For us, we’ve learned that listing appointments can be easily and conveniently conducted using Zoom or other similar technologies.

Matterport, which is a virtual home tour, is another example of innovation that will probably remain popular in the future. If you’re not familiar with it, please check out this explanation that we posted last week on our social media platforms and on our YouTube channel, where we archive many of our videos and postings. Using Technology to Market Your Home.


We continue to see signs and other expressions of support and encouragement pop up around the area. Here’s another that caught our eye.

Stay healthy; stay optimistic.

Mari and Hank

Is May the New March?

it’s beginning to look like the time is right for buyers and sellers to get back on track.

March is traditionally the unofficial start of the spring market. Sellers, who want to beat the competition, begin listing their homes. Buyers — looking to be settled by the time the weather improves — start looking in earnest.

But, the pause in this year’s market has the experts suggesting that May could by this year’s March as those sellers and buyers, who pumped the breaks as the Covid-19 quarantine went into effect, re-start their plans.

There are some positive signs that we’re moving to our next normal. The federal government has issued guidelines for opening the economy. Governor Charlie Baker has established a task force to generate recommendations for re-starting the Massachusetts economy with a May 18 deadline to report. Other New England states are beginning to open up. Businesses, such as restaurants that were considered essential, but opted to close, are resuming allowed operations. Finally, with the weather improving, it’s beginning to look like the time is right for buyers and sellers to get back on track.

In addition, major financial institutions — not the TV talking heads — continue to predict a strong recovery in the third and fourth quarters of the year.

On Cape Cod, listings are slowly increasing and buyers — who never really lost interest — remain active. If anything, their numbers are arguably increasing.

We continue to be busy. Mari has become pretty adept at virtual listing appointments and was out with buyers this weekend.

As always, we’re available to assist you in reviewing your options. Please contact us at 508-568-8191 or msennott@todayrealestate.com. We can meet at a safe distance; use any technology that you’re comfortable with, or just have an old fashioned phone call. Thanks.

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Even as restrictions ease, safety will remain a major concern.

One area that always comes up in conversations with sellers and buyers is the home inspection. We had two last week and at the end of the second, we asked Jeff Mele from Integrity Home Inspection to explain how he safely does his work. Click here to see his answer.

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We continue to be thankful to all front line workers, including those who bring us our take out. They’re keeping us going during this virus crisis.

Here’s another of the spontaneous expressions of support that have popped up across the Cape. This one is at the Stop and Shop on Quaker Meeting House Road in Sandwich across from the new Public Safety Complex.

Stay healthy; stay optimistic.

Mari and Hank