November, 2000 Newsletter
 

Dear Friends and Neighbors,

2000 has been a rewarding year! "Celebrating Latin Music", a benefit concert I co-produced for the Cambridge Housing Assistance Fund (www.CHAFund.org) was a HUGE success! For the second year in a row, we raised over $100,000, which will assist over 100 families who are making the transition from a homeless shelter to renting their own apartment.

2000 was another busy year in the Cambridge real estate market. While the number of sales to date is ~20% lower than 1999, the median residential sale price has increased by ~16%. Current inventory is ~29% below November of 1999. With interest rates below 8%, Buyer demand remains steady. This may set the stage for further appreciation in the spring of 2001. However, although the stock market fluctuations do not appear to have significantly affected current home prices, continued volatility and slowing of economic growth could affect the spring market and may slow the rate of appreciation.

DeWolfe will continue its commitment to the Internet next year. DeWolfe Home Movies, video virtual home tours of DeWolfe listings, can be viewed at www.dewolfe.com. With over 50% of all households using the internet, DeWolfe is committed to offering cutting edge technology services to our clients and customers. I will continue to update my own site at www.DavidPap.com, which will soon have home search capabilities.

If you are considering buying or selling, the time is now to start planning! I am always available if you would like an update on the value of your home, or if you would like a consultation on your real estate needs. We offer Buyer and Seller representation at DeWolfe, so that if you are buying and selling, I can represent your interests in both transactions.

Most of my business is from personal referrals by satisfied clients. With fifteen years experience as a designer/builder/woodworker and fourteen years as a successful Realtor I have twenty-nine years experience in the Cambridge housing market.  If you have a friend about to enter the challenging maze of the Cambridge real estate market I would be glad to be their guide.

I always enjoy hearing from friends and clients whether to simply ‘catch up’, or if they have a real estate need, or simply need advice on what renovations will add value to their home.

I look forward to hearing from you! Have a great Thanksgiving!

David Pap

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