The momentum of Cape Cod real estate sales continued steadily throughout the summer, slowing down only when the Government put up a CLOSED sign. That appears to have caused a general wariness among Buyers now uncertain of the future. Instead of jumping on some incredible deals and the lowest home prices in years, they have pulled back and are reevaluating their investment options. While it’s always wise to be careful and not make rash financial decisions, investing in real estate over the long term is one of the best choices you can make.
For example, take Harwich, MA. According to the Warren Group, the median sale price for a single family home in Harwich in 1999 was $159K. That number peaked in 2005 at $395K, fell to a low of $325K in 2009, but has been steadily climbing since and in 2013 is $346K. So yes, the prices were affected during the housing crisis; but they are bouncing back. And unlike the stock market or your 401K, real estate is a tangible investment that you can actually use and enjoy personally. Weekends, summers, a year-round getaway, or rental property – if you take care of it, it will grow in value at the same time you enjoy real benefits from owning a home on Cape Cod.
As we head towards winter, this is the time to find a deal. There are a large number of homes to choose from; most towns are still at their bottom in pricing, interest rates still favorable, and many Sellers are ready to negotiate. Government leaders will come and go, and they will continue to squabble like the Thanksgiving turkeys that will soon be on our table! Don’t let them dictate the best course of action for YOU and your future. The time to find your Cape Cod investment home is now!
Please let me know if I can help narrow the search!