Primary Markets vs. Resort Towns

I’m on vacation this week and away from our little sandbar by the bay. However, I couldn’t help but question the native realtors about their demographic and get their perspectives.

Primary markets are very different from the resort towns of Truro and Provincetown. My suit and tie wearing counterparts provided some interesting information for me to take home.

The three main sources of business these days are short sales, foreclosures and young married couples buying their first homes. Apparently, many have saved for years just waiting to pounce on the deals this market is providing. Although the short sale and foreclosure may produce a buyer, the home in many cases is destroyed inside by the previous owner who lost their property.

The first time homebuyer tax credit is incentive enough to make buyers take that leap in the markets of Western Massachusetts and Northern Maine.