Cape Cod Real Estate Homes for Sale....... Talk about deals....There are some fantastic homes and condos for sale out there right now, and with interest rates continuing to drop now is a fantastic time to invest in real estate on cape cod. There are currently 537 homes for sale on Cape Cod listed under $300,000, and 489 condos for sale on Cape Cod listed under $300,000. Todays interest rates are showing 5% for a 30 year fixed, and 4.5% for a 15 year fixed. These figures were quoted from the Cape Cod MLS and Cape Cod Five Bank. This means if you were to obtain a mortgage for $200k for 30 years the monthy http://capecodrealestatebydan.com
payments would be $1073 per month and a 15 year would be $1529 per month. The goverment is also looking into lowering rates even further that could bring 30 year rates down to 4.5% or even 4%. Think about how amazing this would be. What an opportunity to be able to take advantage of. Just months ago we were seeing 30 year fixed rates at 6.25% which added an additional $200 per month onto mortgage payments, $2400 more a year. Figure that into the dropping home prices that we have seen over the last year. Cape Cod homes and condos were selling and listing for over $300k in general and today we are seeing them list in the low $200K's. Now, figuring in that you are able to get a great deal on a home or condo and a fabulous interest rate consider renting it out. Cape Cod rentals are doing well this year despite the economy and I think we wil continue to see people vacation to the Cape for years to come. People who were taking the exotic and trips to far away places will start to pull back the reigns and stay more local. Cape Cod has been a classic vacation for decades and many people remember coming to the Cape with their parents and spending sunny days on the beach. Rental rates are reasonable and there is a huge populace of people located within a tank of gas. You will be able to enjoy a 8-10 week rental season providing you with extra income to cut down your mortgage payments. Also, not only will you enjoy the extra income from your rentals you will also be able use your home or condo for tax advantages. Talk to your accountant of all the benefits you will receive from owning a second home or rental property. You can fix up your home or condo a little at a time with the funds from your rentals and when it makes sense stop renting and enjoy your newly renovated home. There are alot of deals to take advantage of right now on Cape Cod and now is the perfect time to act. You don't want to be on the fence and just continue to wait until the time is right because by the time you wait it could be too late. And believe me I hear it all the time, I wish I would have bought that home at xyz when I had that chance. You will never be able to time the market, but what I do know is that rates are at an all time low, home and condo prices are down considerably from over the past years and the rental market is strong. If you see something you like you should buy it.. seize the day. Prices will rebound. So don't waste any more time get a hold of me and lets start getting you ready to make a great investment into not only yours but your families future. Take care and good luck.
