Welcome to the first posting on Barbara's Connecticut Real Estate Blog. So much is happening at warp speed in the national real estate market that it seemed like a good time to try this new medium for communicating with clients and friends. As the financial crisis deepens, I'm bringing you something new that you can read when you're up worrying in the middle of the night.
I have been in the real estate business, in one way or another, all of my life. My father started our compnay when I was a toddler, so I have 50 years of history. I've never seen anything like this before. Credit markets for commercial real estate are, whatever banks may say to the contrary, frozen. Residential buyers are sitting on the fence, waiting to see what's going to happen. Realtors are sidelined.
Despite the bad news on every front, I'd like this to have a positive aspect to it. Greater New Haven is a wonderful place to live and work. We have so many colleges and universities that our region has a plethora of cultural offerings. Our shoreline, so conveniently located right outside the city, is a tremendous boon for recreation, beauty, and lifestyle. For example, today I got to work at home all morning, because high tide washed out our road and kept me from getting past our mailbox! That used to happen once a year or so, but this fall it's happened once a month. I wonder if it's our version of the dust storms during the Depression....
That's it for now. Back later with more on our region and real estate.
Posted by Barbara L. Pearce at 2:10 PM, Friday, December 12, 2008