Cape Ann weathers uncertain real estate conditions

As 2009 gets under way, Realtors on Cape Ann prefer to look to the future rather than rehash a year one broker described as “challenging, challenging, challenging.”

The overall good news for this year, says Terry Sullivan of Re/Max Advantage Real Estate in Beverly, is that “Essex County tends to outperform the rest of the state.”

In addition, brokers are hopeful that historically low interest rates (the 5-percent mark, a rate that hasn’t been seen for several years, is fast approaching) and the availability of mortgage money will bring buyers back into the market. “There is going to be a lot of pent-up demand, so I think it is going to be a strong year,” says Ann Olivo of J. Barrett & Company in Gloucester.