Heath's Blog


Pre-foreclosure real estate on Cape Cod (Sandwich, MA)

On May 6, 2008, there were just over 1900 properties in the pre-foreclosure stages in Cape Cod towns.  That is only 1.3% of the 140,000(+-) homes on the Cape.   Less than half of the homes on Cape Cod are actually second homes, and commercial properties are not included in the 1900.  Most Cape Cod homes are owner occupied, contrary to popular thinking. Some communities within the Cape do have more than 50% vacation home or investment status, but for the most part, the Cape has a year-round economy.

Sandwich is on the north-western edge of Cape Cod.  It is on the south side of the Sagamore Bridge.  It is famous for the glass museum, Daniel Webster, and other historic attractions.  North of Falmouth and west of Barnstable, Sandwich is one of the smaller towns on Cape Cod.  Less than 20% of the properties there are owned by investors.  Unfortunately, like Mashpee (yesterday's blog), Sandwich has a high percentage of pre-foreclosure properties on Cape Cod.  Similar to Mashpee with roughly 8,000 residences, almost 2% of its housing inventory is in pre-foreclosure.  While Sandwich has some year round businesses, many of the residents commute "off Cape" to Boston for employment.

Here are the breakdowns for Sandwich villages that I have found.  Keep in mind these are PRE-foreclosures (as of 5/6/08) and some will not go to complete foreclosure. 

 Sandwich        83
 Forestdale      35
 East Sandwich 33

Tomorrow:      Yarmouth
Other Towns:  Mashpee

Heath Coker, Associate Broker
Robert Paul Properties
www.CapeGroup.com / capegroup@capegroup.com
508-274-5613  Licensed in MA
Its a beautiful day on Cape Cod!
@CapeGroup  Skype: heath.coker

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