Making Sense of Central Massachusetts Commercial Real Estate
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Over the past couple of weeks I’ve seen a variety of experts’ opinions and statistics, all of which claim to be the last word on what’s happening in national, regional and local real estate markets. How do we make sense of them all?
One dire report claimed that home sales were off 20% compared to a year ago. What they didn’t emphasize strongly was the comparison to last year’s $8,000 first time home buyer’s tax credit. April was the last month of that program and artificially inflated sales of April 2010.
I tend to be a glass half full type, believing that we create our future based on what we believe. If we read and absorb the bad news we’ll act accordingly. If we collectively filter the news and respond positively we’ll act differently.
My own experience is that more people have “come out of the woodwork” recently interested in buying for their own use or as an investor. We now have more commercial properties under agreement in our own office than during the past three years and that seems to be echoed by other commercial real estate offices that I’m familiar with.
Even development land has seen increased interest as developers are positioning themselves to be ready for the next building wave.
Care to share your own thinking and experience? What do you hear from your friends and business acquaintances? Are you (or are they) feeling more optimistic about the commercial real estate market?
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