Monday, March 24, 2008

Cape Cod Calls Value Hunters

With home prices dropping faster than locals can name-drop "Kennedy," Cape Cod, MA has become a buyers' market, says a Boston Globe writer. "Statistics, market trends, and reality on the ground make buying a Cape vacation home one of the no-brainer investment decisions of 2008," writes Kris Frieswick. But who should buy? "Those with a 20 percent down payment and pristine credit to meet banks' new stricter requirements and no need to sell an existing home in this tough market." 5 towns where prices have dropped most from 2005-7: Hyannis, Bourne, Mashpee, Centerville, Provincetown. Frieswick notes that some areas have retaremained strong: "Chatham values have merely flattened. Cotuit never stopped appreciating in value." So shop carefully. But you know that already, don't you?

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