Have you ever wondered where the 40B (low income) developments are in Falmouth. The list below was provided to real estate professionals recently. The list includes the developer/applicant, acreage, zoning information, number of units, etc.

Some people don't want to be in or near a 40B subdivision. Their perception is that a 40B development is like the infamous "projects" so many cities have. But, this is not correct.

A 40B project is known as a "low income" development. This is not the same as Section 8 income assistance.  In a 40B development, 25% of the properties for sale are made available to buyers who have an income below the average for the area. Those buyers still have to qualify for a loan, with good credit, an income, etc., but they are given a "break" on the purchase price of their property. Often, the discounted properties also have deed restrictions relative to when the buyer can re-sell and sometimes even what profit they can make.

If you have questions about 40Bs and how they affect your property in Falmouth, send us an email capegroup@capegroup.com.

Here's the list.

Best wishes, Heath