In an economic downturn, there always exists opportunity; you just need to know where to look!
Urban areas that attract artists tend to be on the vanguard of development opportunity.
Revitalizing neighborhoods with galleries, boutiques, and cafes attracts business and residents.
Living close to jobs in affordable housing appeals to young professionals, growing families, and artists, among others. In the past, artists have shown an uncanny ability to ferret out locations ripe for investment and opportunity.
People wanting to downsize enjoy the proximity to cultural attractions, restaurants, and dwellings that are “green” and easy to maintain.
I just sold a home on Bellevue Hill in West Roxbury in its first weekend on the market! Close to public transportation and downtown Boston, its location and affordability are the earmarks buyers are now looking for, when looking for real estate opportunities.
Buying now, while homes in these areas are still cheap translates to opportunity!
Business Week Magazine has highlighted several locations where opportunity lurks!
Neighborhood: Jamaica Plain
The neighborhood, three miles southwest of downtown, has plenty of green space. Its picturesque Jamaica Pond is popular for sailing, rowing, and outdoor concerts. It has retained its diversity and relative affordability despite the development of condos and the influx of wealthier residents. Some artists, fleeing the neighborhood’s rising rents, are pushing into neighboring Roxbury. Lowell, about 40 minutes away, and nearby Somerville are also attracting bohemian residents.
Top Real Estate Agent for more than 14 years, serving the real estate needs of Wellesley, South Natick, Weston, Needham, Wayland, Newton, Framingham and other MetWest communities. www.johnprescott.net
Century 21 Commonwealth
BostonKayakGuy…The MetWest Scene