Under a dusting of bright green pine pollen we all enjoyed a great Memorial Day weekend filled with cookouts, parades, fun at the beach, and seasonal businesses opening. All the things that people come to the Cape for. As I reflect on my own weekend, I am even more convinced that Cape Cod will always be a place where people want to be. Whether it’s for a vacation or a place to raise your family or retire. Even in a down economy there was no shortage of visitors on the Lower Cape this weekend. I personally visited two restaurants that opened their doors for the first time this past week, and two others that reopened for the season, with no shortage of hungry and thirsty customers. Things will quiet down some between now and when school lets out, but summer will come and so will the all the people. They may be on a tighter budget this year, but they’ll be here. If they don’t already own a place here, my bet is that most wish they did. Real Estate values may have depreciated slightly in recent months, but there will always be people willing to buy. A now happens to be a good time!! So don’t wait!
Yes, that’s the report on the front page of the Cape Cod Times today. It’s hard to believe, but for the first time in a long time, the main stream media is reporting some good news with regard to the Real Estate market. That good news being, that the “bad news” is not “as bad”. The Housing Assistance Corp. is fielding slightly fewer phone calls from people seeking help with foreclosures, and local foreclosure rates are down 3% in the 1st quarter in Barnstable County. Okay, so it’s no guarantee of a big turn around of the market here on Cape Cod, but it’s a step in the right direction. A little bit of positive information can go a long way.
Let’s hope for more good news.
JF
I’m happy to report that I had a closing this week on a home in Harwich that was purchased by a couple who are first time home buyers! It has been quite a while since I’ve had the pleasure of assisting someone buying their first home, and it was a great experience for everyone involved. I look forward to helping others d0 the same thing while the opportunity exists.
With the shortage of affordable homes on the Lower Cape, sadly homeownership for many has been out of reach. Recently though, an opportunity has presented itself here on Cape Cod that may never come around again. The combonation of a drop in selling prices, and a drop in interest rates, along with a considerable inventory of homes for sale has opened a door for many, not to mention short sales and foreclosures. If you have steady income, decent credit and a reasonable down payment (either in savings or in the form of a gift) more than likely there is a home out there you can afford.
As an example in Brewster and Harwich there are almost 35 homes for sale under $325,000. Even in Eastham the Cape Cod and Islands MLS lists 11 homes priced under $350,000. Some may require a little elbow grease, but as they say.. “They’re just not making any more of Cape Cod”, so now may be the time to make that investment and own your own piece of real estate on Cape Cod.
Call me if you need some advice on how you can find out what you can afford, and how to take the first step. I’m happy to help!
~Jorie
