Cape Community Real Estate, Housing Assistance Corporation’s nonprofit real estate division, is buzzing. Deed-restricted homes that become available have been selling quickly through lotteries.
“The market is very lively,” according to Realtor Gael Kelleher, Director of Real Estate in HAC’s Consumer Education Department. “We are hoping there will be more inventory but they are selling quickly.”
For example, a deed-restricted house in Marstons Mills that the owners had purchased in 1989 for $68,000 and raised their family in the home, just sold for $148,000 to a new young family.
“We’re hoping for more of those,” Gael said. “It’s exactly the way affordable housing is designed to work.”
The next deed-restricted resale opportunity is a home in the Pilgrim Pines subdivision in Bourne. Lottery opportunities are also coming in Chatham, Forestdale, Cotuit and Sandwich. These will be affordable, deed-restricted properties, so the prices will be right.
Check HAC’s website for new offerings.
To be first on the list for these deed-restricted homes, buyers need to be pre-approved from a lender. To get on the Ready to Buy Wait List, download the application, --Ready to Buy application
Bring your pre-approvals to HAC’s experienced real estate team, Gael Kelleher and Karen Davis, Sales Associate. They work with buyers from all economic levels.