Cape Cod Real Estate
While a good portion of the country is in turmoil due to issues with the real estate market, Cape Cod real estate isn’t feeling the sting as badly as many other locales are. Interest in the area remains high at all times and property values don’t fluctuate as dramatically as they do in many other regions of the country.
One reason for the steadiness in the Cape Cod real estate market is the highly contained nature of the area. Since the peninsula is surrounded on practically all sides by water, there is no room for expansion. What’s there is what’s available. And what’s there is in high demand.
Residential Cape Cod real estate is highly sought but it comes at a premium price. The full-time residents of the island love living there and not many of them are quick to move away.
People who own residential Cape Cod real estate but who are not full-time residents themselves have a delightful place to escape their everyday lives. They enjoy coming to the Cape for all the same reasons the thousands and thousands of tourists do.
In addition, those part-time Cape Codders can make valuable use of their Cape Cod real estate even when they themselves are not in residence. The market for vacation homes to rent for the day, weekend, week, month, or even all summer long are highly profitable and there are many property managers in residence on the Cape who are happy to see to the daily details of renting and maintaining these properties for their absentee owners.
Commercial Cape Cod real estate can seem like finding the pot of gold at the end of the rainbow as long as the owner understands there will be many months of the year when business is booming but there will also be many months of the year when there is absolutely no business at all. Not every business owner can survive that scenario.
It’s during the full swing of tourist season the owner of commercial Cape Cod real estate can expect a boom time. The season starts slowly in April, builds to a crescendo during the summer months, and gently comes to an end by the time winter begins setting in toward the end of October.
During the winter months, there is very little tourist activity in the area and both residential and commercial Cape Cod real estate owners must be content with a lull in economic activity. Many Cape Codders earn their living off the tourist trade so they, just like the commercial property owners do, feel the economic crunch created by the absence of the tourists.
The good thing about the cold winter months and the absence of tourism and its cash flow is that it won’t last forever. In just a few short, but often very cold, months, the tourists will be back and everyone will once again understand the true economic value of owning Cape Cod real estate.