There are just over 1900 properties in the pre-foreclosure stages on Cape Cod on May 6, 2008. This may sound like a lot of property, but this is only a small fraction of real estate on the Cape. There are some pockets of activity that are easy to understand and small pockets of activity that show no class is immune to the national real estate issues.
Barnstable and Falmouth are the two largest towns on Cape Cod, so of course, they have the highest number of properties in this list. But looking at the number of pre-foreclosures with respect to the total properties in those towns indicates a much stronger economy there than in the surrounding towns. Falmouth and Barnstable both have year-round economies with industry and businesses that are not completely reliant on summer tourism. The surrounding towns are not able to support year-round businesses as effectively as Falmouth and Barnstable are.
Here are the breakdowns for Barnstable that I have found. Keep in mind these are PRE-foreclosures and many may not go to complete foreclosure. The numbers indicate that there are areas where investors have been caught in the rapid appreciation of the last few years. The areas with the largest PF numbers are also the areas of the largest turnover in the last few years.
Marstons Mills 71
West Barnstable 20
West HyannisPort 0
Heath Coker, Associate Broker
Robert Paul Properties
www.CapeGroup.com / email@example.com
508-274-5613 Licensed in MA
Its a beautiful day on Cape Cod!
@CapeGroup Skype: heath.coker