2010 has been an interesting year for real estate in the Concord area. The year started off with a bang, driven by the tax credits which expired April 30. Although most of my clients were not eligible for the credit, the program propelled the majority of sales to happen by June 30. Median prices started to rise for the first time since the recession, indicating we had hit bottom. Not surprisingly, the market went dormant for a few months after that. Now, since Thanksgiving, we are seeing more buying activity again! Yea! (I have to admit, I was getting a little nervous) Typically sales are slow between Thanksgiving and Christmas. One of the things I love about my job, is that it is not predictable... Every day is a different adventure!
So, what's next? There has never been a better time to buy with prices at the bottom and interest rates at an all time low. I personally would like to start investing in some properties, so that some day, I can retire! No one has a crystal ball, but there are deals to be had and opportunity to build personal wealth. I recently went to a class and the speaker gave an example of a friend buying a home in Arizona, for $60,000. He put $12,000 down and rented it for $1200/month. He is netting over $500/month with a $12,000 investment. Pretty nice return on investment! No, we probably won't find a deal like this in Acton or Concord, but who says you have to invest in your town? It's all about thinking "outside the box" sometimes.
I am organizing monthly investor seminars to start in January 2011 and I will post dates when they are finalized.
In the meantime, enjoy the holidays!
Ginette
