A McPhee Associates of Cape Cod Quarterly Newsletter |
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Greetings!
I hope you are enjoying this beautiful summer and taking advantage of all the Cape has to offer. We’ve included a few of our recommendations for Places & Things We Love on Cape Cod later on in this issue.
Our Team has been very busy pulling out all stops to get projects nearing completion ready for move-in day. We also have many new projects under way. We have included images below of some proposed architectural designs, as well as some photos of projects in progress. We are proud of our work and love to share it.
In terms of real estate, with home sales and sale prices beginning to drop in parts of the country, there is a buzz about a shift in the national housing market. This was expected and inevitable considering rising interest rates, inflation and unsustainable home prices. However, with inventory low and demand still high, experts don’t expect a major shift at all, but rather a tapered cooling off.
On Cape Cod, you will see in our Real Estate Market Report below that during the first half of 2022 (through end of June), home sales decreased. However, home prices still increased and fewer homes came on the market (even less inventory) in comparison to the first half of 2021. We are in a unique region that is in high demand, with very limited room for new development. We don’t anticipate any significant changes this year based on what we are seeing.
In the building industry, we continue to face supply issues, volatile material costs and challenges in the labor force. With this, as always, I strongly encourage you to plan ahead for any future projects. Across the board, things are booking much further out — more than any of us have been accustomed to in the past. Again, we appreciate your patience and understanding during these unique times.
Finally, on a personal note, this summer brings change to our family. Our oldest daughter will be heading off to college — Elon University in North Carolina. We are thrilled with her choice and excited about this next chapter in her life. However, as parents, it is bitter sweet to see her go. I know many of you have, or will be, at this point in life. Through our work over the years, it has been so nice getting to know our clients and their families and watch them grow as well.
I wish you all a safe and relaxing summer!
Sincerely,
Rob McPhee
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WINDWARD EAST & WINDWARD VILLAGE
Located in the north side of East Dennis, Windward East and Windward Village are exclusive McPhee Associates neighborhoods. The homes in both neighborhoods are set on pristine, wooded lots and are protected by special covenants that ensure new homes are designed and built to be compatible with Cape Cod and New England styles.
In Windward East, seven custom homes have been built and six homes are currently under construction. To see our Windward East gallery of completed homes, click here.
There are currently four lots still available in Windward Village for custom-built homes, as well the custom-built Model Home (below), which is under construction.
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The design of the Model Home on Lot 8 offers an exceptional floor plan that features an open concept living space, office, main level primary suite, and a full walk-out lower level. Take a look
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The Model Home is currently under construction. A recent progress photo shows a view of the back with the walk-out lower level and the beginning of deck construction. |
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MODEL HOME SPECIFICATIONS
Below is a sample of the Kitchen selections for the Model Home (Lot 8).
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Shown below are two proposed home designs created by our architectural design team — one for a new design/build in Truro and the other for a new design/build in South Dennis. (Proposed designs are preliminary and subject to change.)
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The rendering above shows the front of a proposed Greek Revival home with an attached garage. The construction of this Truro home is proposed in phases which would include the main body of the house (left) first, then the middle section and garage (phase 2), and a primary suite behind the garage (phase 3). |
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The proposed renovations to this classic Cape Cod home in South Dennis will involve a tear down of the existing home (shown below) and a new build in place. As you will see in the comparison, the new proposed design above preserves the character and architectural integrity of the original home. |
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The design and structure of this new build project in Harwich Port is beginning to reveal itself. Shown is the framing and front elevation. Architect: Patrick Ahearn, Architect
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The interior living space of the same Harwich Port new build gives us a glimpse of the unobstructed harbor view. This room will step out to a stone patio and down to the dock. |
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A progress photo of this new construction home in Chatham designed by McPhee shows a triple window, detailed trim and built-in bookshelves with spot lighting. |
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Another sunny view from the same house in Chatham is taken at the main level mudroom showing the staircase going down to the lower level and up to the upper level. |
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Another Windward East home designed and built by McPhee is coming along nicely. This one is a classic Cape Cod shingled home with dormers and a quaint covered porch. |
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The back view of the same Windward East home shows the screened-in porch and the outdoor tiled patio being set on a hot summer day. |
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We are thrilled to be collaborating with SV Design of Chatham on this Harwich Port new construction home. We recently had a sign created and installed displaying our partnership. Although, the house is the real show stopper!
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Follow us on social media to see progress photos and more McPhee projects. |
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Cape Cod Fixer-Uppers: Advantages, Red Flags and Phasing Renovations |
Low inventory, massive competition, and soaring real estate prices have weighed heavily on Cape Cod home buyers since 2020. In addition, mortgage rates are on the rise. Many buyers are becoming more and more interested in properties they can renovate over time and make their own.
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The Process of Building a Custom Home: 7 Essential Steps |
Many prospective homeowners choose not to purchase existing construction but build from the ground up. Or, in prime locations, they may buy an older home and tear down to create their dream home. It’s easy to see why building a custom home is attractive. You get the ability to design your living space and incorporate the features that matter to you most.
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10 Dreamy Cape Cod Outdoor Living Spaces |
Over the past couple of years, the outdoor living space of the Cape Cod home has become essential. Whether it’s a small patio in the back yard or a sprawling waterfront oasis, this space provides families and friends a place to gather, entertain or just sit under the stars by a fire. These 10 spaces are unique to each home and each owner’s style and are sure to inspire.
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Cooling Down
Summer is here and the high temperatures are finally catching up. Here are a few tips from our Property Management Team during these warmer months.
Whole House Humidifiers
Many central air systems go into the summer cooling season with the humidifier still on. An air conditioning system will not cool or dehumidify properly if the humidifier is still running. If you haven’t done so already, make sure your humidifier is turned off.
Central Air Conditioning
The recommended temperature setting for an AC unit is 78 degrees, according to the U.S. Department of Energy. This may seem a little high — or even uncomfortable for some — but it’s meant to reduce energy usage and improve environmental impact.
Many of us keep the AC set in the low 70s during the hot summer months. Keeping it this low will not only have a negative impact on your electric bill, but it can put added pressure on the system itself. Here are some tips for managing your system:
- Utilize a programmable thermostat – If you have a consistent schedule this can be helpful. It can be set to automatically raise the temperature when you're not home, and lower it before you return. You can also program it for daytime and nighttime use. This will avoid constant manual changes and added fluctuations.
- Use ceiling fans – Make use of ceiling fans when you are home but just know that they only affect ambient air temperature and cool people (and pets), not rooms. So, remember to turn them off when you are not home.
- Replace your light bulbs – Some home lighting can actually increase the air temperature inside. Consider switching out to more efficient bulbs.
- Make sure your windows are well insulated.
- Keep up on your recommended AC system maintenance.
If you are interested in any services that will increase the efficiency of your AC system, contact our Team and we will get it scheduled for you.
Plan Ahead
The Property Management Team is already scheduling Fall services including HVAC and irrigation for our clients. If you have an additional “fix-it” project — or any other service that you'd like done this Fall — please let us know as soon as possible so we can get it scheduled. It’s always best to plan ahead.
Thank you and enjoy your summer!
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THANK YOU FOR YOUR VOTES!
McPhee Associates has been named a FINALIST in the Best of Cape Cod 2022 Community Choice Awards for both Best Home Builder and Best Home Repair/Remodel.
The Winner and two Runners Up will be announced at the Cape Cod Times Awards Gala in August. Whatever the turnout, we are grateful for the recognition and thank all of you who helped get us here. 😊
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Cape Cod & The Islands
Summer 2022
Our renovated farmhouse project — Coastal Farmhouse Revival — was featured in the latest issue of Cape Cod & The Islands magazine.
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Boston Design Guide
Cape & Islands Design Guide 2022
Running beside our advertisement, Boston Design Guide recognized our 50th Anniversary with a full page tribute to this milestone.
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REAL ESTATE MARKET NEWS
In the national housing market, a combination of rising inflation, soaring home prices, and increased interest rates has caused a slowdown in Closed Home Sales. We are seeing this on Cape Cod as well.
While actual Home Sales have decreased on Cape Cod, the market here is still seeing rising home prices — likely due to high demand and limited inventory. New Listings for single family homes decreased by 11.3% (year-to-date) compared to the same period last year. And, the Median Sales Price is up 15.1% this year so far.
June Highlights for Barnstable County (compared to June 2021):
- Median Sales Price: $710,751 (+18.6%)
- Closed Home Sales: 324 (-20.6%)
- New Listings: 441 (-10.2%)
- Cumulative Days on the Market: 17 (-26.1%)
Year-to-Date (YTD) Highlights for Barnstable County (compared to YTD 2021):
- Median Sales Price: $694,250 (+15.1%)
- Closed Home Sales: 1,539 (-20%)
- New Listings: 2,064 (-11.3%)
- Cumulative Days on the Market: 31 (-42.6%)
(Highlights are for Single Family Homes, not condominiums or land.)
What can we expect in the coming months?
Some regions and cities in the national housing market are starting to see a drop in home prices and an increase in inventory, which is expected considering the current economic climate. However, Cape Cod is a market that is still in high demand — inventory is scarce and new development is extremely limited. Therefore, while we do expect prices to level off, it's likely that the local market will remain this way through 2022 and beyond.
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You may have spotted one of artist Steve Swain's school of steel fish installations or fish light pendants around the Cape. Rock Harbor Grill in Orleans is one of many local establishments that has commissioned his work. Steve works from his home studio in Harwich, but you can visit Frying Pan Gallery in Wellfleet (or the website) to find a really cool assortment of fish, sharks, mermaids, horseshoe crabs and much more.
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One of our favorite local eateries is Chatham Cookware, a neighborhood cafe located on Main Street in Chatham. Open seasonally, the menu features creative sandwiches like the Salty Llama (tarragon chicken salad), hot paninis, fresh baked goods (amazing whoopie pie!), and strong coffee. Pick up a Grab and Go Cooler (fruit, yogurt parfaits and hummus) on your way to the beach.
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A cappella groups are often associated with gentlemen in straw hats and red striped vests. Not Hyannis Sound. This group of talented, young college students sport colorful Vineyard Vines attire. And, they never fail to entertain with their animated, beat-bopping, performances scheduled several nights a week from Falmouth to Chatham. Their repertoire includes fresh renditions of current pop, rock and seaside classics for all ages. And yes, the teenagers will love them!
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McPhee Associates Homes on the Tour:
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At McPhee, we truly believe that our clients are the heart of our business. Our goal is to consistently provide the best service possible, and in doing so, we would love to receive feedback from our clients.
We would be incredibly grateful if you would take a moment to leave us a Google review. This will help us let others learn of the value of our service.
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WE LOVE TO SHARE OUR WORK |
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