Chatham is in the Lower-Cape area of Cape Cod. It is bounded by Harwich and Orleans. Half of the properties in Chatham are second homes (50%+-). Chatham has beaches on both Nantucket Sound and on The Atlantic Ocean. Even with its high second home percentage, Chatham has very few of its homes in pre-foreclosure as of May 6, 2008 which is probably because Chatham has traditionally been a place of upperclass incomes and "older money" families' second homes.
On a side note, the Lower Cape area is called the Lower Cape instead of the Outer Cape or Upper Cape because of latitude. The latitude of the Upper Cape is higher than the latitde of the Lower Cape and visa-versa.
On May 6, 2008, I did some research on pre-foreclosures in Cape Cod towns. Only 1.3% of the 140,000(+-) homes on the Cape were at the stage of pre-foreclosure. Less than half of the homes on Cape Cod are actually second homes, and commercial properties are not included in the 1900. Most homes on the cape are owner occupied. Some areas within Cape Cod towns do have more than 50% vacation home or investment status, but for the most part, the Cape has a year-round economy.
Here are the breakdowns for Chatham 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.
North Chatham 0
South Chatham 3
Heath Coker, Associate Broker
Robert Paul Properties
www.CapeGroup.com / firstname.lastname@example.org
508-274-5613 Licensed in MA
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