Cape Cod Real Estate

Be smart- know your flood zone!


Whenever we are looking at a property with a Buyer client or listing a property for sale, one pertinent question to ask is "Is it in the flood zone?"  This is important because properties in a flood zone will require flood insurance - an added expense for the homeowner - if the purchase of the property is financed by a bank.  Do you know if your Dennis property is in a flood zone?

Here is the Town of Dennis website for FEMA's 2013  Flood Zones. Just enter your home's address and it will show you if it is in a flood zone:

Will Interest Rates Rise and How Might that Effect You?

Interest rates fell approximately a half a point in the weeks following Ben Bernanke's announcement in late September that the Fed would continue their pace of bond purchases. This purchasing of bonds has acted as a stimulus package for the housing industry as it has kept mortgage interest rates at historic lows. However, rates over the last few weeks are again inching upward.

There currently is a window of opportunity for you to still get a sub-5% interest rate. This opportunity is expected to disappear in the very near future as most experts expect the Fed to taper the bond purchasers in December.

Even Ben Bernanke, Chairman of the Fed, suggested that the Fed could still scale back the stimulus this year. He stated: "If the data confirms our basic outlook, then we could move later this year."

Here is an example of how an increase of 1% could impact YOU as a buyer:

October 2013 Slide for Lomenzo Edge

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