Latest news with #PaulGrover
Boston Globe
03-07-2025
- Business
- Boston Globe
Amid uncertainty elsewhere, Cape Cod luxury real estate market takes off
The wild ride in stock and bond markets over the past few months may have wealthy investors thinking of more stable places to put their money -- like real estate, said Paul Grover, co-founder and principal broker of Berkshire Hathaway HomeServices Robert Paul Properties in Osterville. Sales of homes above $2 million jumped 35 percent in approximately the first five months of the year compared to the same period year ago, to 99 from 73 in 2024. Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up The gyrating financial markets, Grover said, 'put people in the frame of mind that luxury real estate or real estate on Cape Cod was probably a very solid place to be invested.' Advertisement The luxury market has also proven resistant to two factors weighing on the broader real estate market: high interest rates and high prices. Most luxury buyers can pay cash, so the prospects of higher monthly mortgage payments have less of an impact on luxury sales. And because the buyers are, well, rich, price is less of an object. 'If you just think about the profile of a buyer at that price point of a home, they're generally pretty insulated from some of the things that impact the majority of the public,' said Betsy Hanson, CEO of the Cape Cod and Islands Association of Realtors. Advertisement The East Falmouth property with a recent accepted offer at 2 Bridge Street. Sotheby's International Realty The biggest share of buyers live driving distance from the Cape, Grover said. Most are from Massachusetts, generally living in Boston or its suburbs. Another sizable portion comes from Connecticut or New York. Historically, buyers from Philadelphia and Cleveland also have been well represented in certain enclaves of the Cape. But recently, Grover said, an increasing number of affluent homebuyers come far away, such as Texans looking to escape the extreme summer heat and Californians seeking property in a place less prone to wildfires. 'Even at the top end of our market, our prices look really appealing to them, and they're used to a higher price point,' he said of buyers coming from especially pricey markets, such as southern California. Luxury prices tend to start in the $2 million to $5 million range, depending on location, Grover said. Last June, he Luxury properties on the Cape tend to be vacation homes, not primary residences, that don't see much use beyond July and August. Most are walking distance from a town center or a beach, if not waterfront. $2,845,000 property in Falmouth at 33 Wood Neck Rd. Sotheby's International Realty Cape Cod luxury home prices tend to increase gradually, Grover said, but the COVID-19 pandemic caused prices across the local real estate market to skyrocket, with some doubling in value. Median sale prices for single-family homes Advertisement 'People wondered, would these new prices hold?' Grover said. 'And in fact, they have.' The Cape has been fairly insulated compared to other US real estate markets. For example, median single-family home sale prices dropped about 3 percent in Austin, Texas in April and about 4 percent in Tampa-St. Petersburg, Fla. compared to a year earlier, according to local real estate data. The median single-family home price on the Cape rose slightly in April, to about $798,000 from $795,000 a year earlier, according to the Cape Cod Realtors association. Unlike these other markets, where building boomed in recent years, the housing supply on the Cape remains tight while demand stays strong. 'Some other areas of the country might be seeing that there are some market corrections happening,' Hanson said, 'and we aren't necessarily seeing that bear out here.' Stella Tannenbaum can be reached at
Yahoo
21-02-2025
- Entertainment
- Yahoo
Telegraph photographer shortlisted for press photo award
A photo of two spooked military horses taken by a Telegraph photographer has been nominated for an award. The two horses from the Household Cavalry Mounted Regiment bolted through the streets of London in July 2024 after panicking at the sound of construction works. Paul Grover, a photographer for The Telegraph, snapped the horses as they galloped down the Strand in the busy centre of the capital. The portentous picture of one black horse, and one white and stained with blood, has been nominated for IMAGO Photograph of the Year at the annual UK Picture Editors' Guild Awards. Grover said: 'I was standing on the Strand with PA photographer Jordan Pettitt covering the Post Office inquiry, when suddenly it went very quiet and the traffic had pretty much ceased. 'We then heard the very eerie sound of hooves on concrete. 'Before we knew it, we could see two horses barrelling down the strand heading east towards Fleet Street. 'I really had no time to think but to stick the camera up and take pictures as they went past at great speed. 'As they went past we saw the poor horses nearly take out some cyclists and the black horse skidded into a cab. 'They then galloped down Fleet Street and so I gave chase! It was a very surreal event.' Jason Green, The Telegraph's picture editor, who led the judging panel, said: 'This year's image selection showcases the diverse talents of UK photographers and highlights the vital role photojournalism plays across our entire industry.' Another picture of the same horses taken by Jordan Pettitt is also in the running for the award, which will be decided by public vote. A picture of a smiling Princess of Wales, dressed in green, at Sandringham on Christmas Day is among the others shortlisted. Other contenders for the prize include photos of Nigel Farage, the leader of Reform UK, having a milkshake thrown in his face, a dinghy filled with migrants crossing the English Channel, and rioters attacking a hotel housing asylum seekers. Pictures of Novak Djokovic illuminated on a sunny Wimbledon Centre Court, Sir Alan Bates, the former subpostmaster, and a Red Arrows flypast marking the anniversary of D-Day, also made the shortlist. A poignant final portrait of rugby league star Rob Burrow, who died in June, has also been nominated for the award. Almost 9,000 people from the UK, the US, Europe and Australia took part in the vote last year. Voting for the award closes at noon on March 12, and the winning photographer will be announced on April 1. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
