A friend of mine (native Cape Codder, now a New Jerseyite -- New Jerseyer?) emailed me in regard to the status of real estate on the famed Cape Cod (Massachusetts). He's thinking of moving back to the area and considering the fact that he lives in Jersey, I can't blame him!!! JUST KIDDING! (I know my Jersey friends are going to kill me for this one).
My initial thoughts on the subject started with the general notion that (as national trends indicate) prices have been dropping slightly. However, in some of the more sought-after places (See: most of the Cape and Islands), prices have remained steady or have even seen further appreciation (which is unheard of elsewhere).
On the flip side, this may be great news for property owners and investors but some folks (See: the elderly) cannot afford the rising property taxes associated with these property value increases. According to a great series that I heard on NPR, the split between the rich and the poor is quite eye-opening if you look hard enough. Here are some great links to these local NPR programs (I listen to the station whenever I’m cruising to a closing out that way):
CLICK HERE FOR THE LINK TO NPR
Just some food for thought. Let me know what you think about these reports... have you had similar experiences on the Cape? What are the trends in your area? As always, I am willing to help folks with their real estate needs throughout New England but my main focus is in Massachusetts and Rhode Island. :)
Any questions? Give me a call at 401.921.5114, extension 17.
Richard M. Bianculli Jr., Esq.
Supreme Title and Escrow, Inc.
171 Service Ave, Bldg 2, Suite 302A
Warwick, RI 02886
E-mail me at email@example.com
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