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Cape Cod foreclosures and real estate
auctions real estate. The Cape Cod foreclosures auction and bank owned
real estate listings market continues to be a growing part of the overall
Cape Cod real estate environment. After years of price appreciations, real
estate values on Cape Cod have not only stagnated, but the median priced
home on Cape Cod Mass has decreased significantly. This, along with tighter
mortgage standards, subprime mortgage loans, and many other contributing
factors, has resulted in a dramatic increase in real estate foreclosure
and auction activity in Barnstable County, which includes the Cape Cod
area.
While the entire country has seen
an increase in foreclosure activity, Massachusetts, and especially Barnstable
County and Cape Cod have been hit hard by the slowdown in real estate.
This may be due in part by the nature of the Cape Cod real estate market
itself. With so many second homeowners and buyers, along with those who
purchase investment or income property on the Cape, many folks purchased
property that was not meant to be used as their primary residence. |
