Welfleet & Truro Massachusetts are waaaaayyyy out on Cape Cod. From Falmouth, it can take over an hour to get there (the same time and distance to Boston from Falmouth.) The two towns have a total of only around 5,000 residential properties and well more than half of them are second homes.
Welfleet & Truro are bounded by Provincetown and Orleans, the Atlantic Ocean, and Cape Cod Bay. More than half of the properties in Truro are second homes (60%+-). And, the same percentage of second homes exists in Welfleet. There are great beaches on The Atlantic Ocean and on Cape Cod Bay, and Welfleet & Truro also have part of the National Seashore in their boundries. In fact, Welfleet has more land incompassed by the National Seashore than it has "useable" land by it's citizens. Even with their high second home percentage, Welfleet & Truro had very few homes in pre-foreclosure as of May 6, 2008.
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 Welfleet & Truro 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.
Heath Coker, Associate Broker
Robert Paul Properties
www.CapeGroup.com / firstname.lastname@example.org
508-274-5613 Licensed in MA
Its a beautiful day on Cape Cod!
@CapeGroup Skype: heath.coker