Like many communities in the Metro Boston Area, Belmont, MA has taken a bit of a hit from the ongoing recession. The question for real estate owners, and for those looking to buy real estate in any community is how well any city or town is adjusting to the downturn and how quickly they will rebound. The capability and flexibility of a community to maintain vibrancy and a multitude of services directly impacts the value of its real estate.
Many small businesses have closed in Belmont, MA and the town administrators are working to create new opportunities. Traffic and pedestrian adjustments to Trapelo Road and Belmont Center, new liquor licenses, tax incentives and more are bringing in new businesses at a slow but steady rate.
Construction of a new elementary school is
evidence that Belmont's famed emphasis on quality education is still a priority. The new Wellington School construction is slated for finish in 2011 and will certainly be a favorite among families looking to buy a home in Belmont.
When you are looking to buy in any community, you will certainly see the signs of recession. The important thing to keep in mind is looking for signs of recovery. There are communities that will rebound more quickly than others. And, while we cannot have a crystal ball to the future, it is those communities that are most likely to help you preserve your home's value. So, if you are looking to buy a home in Belmont MA or any of the Boston Metro West areas, keep an eye toward progress. Call the town hall and ask about new businesses, construction, school programs and the like. Read the local paper, visit the town website etc. Even though you may not be involved with each aspect of the community, you may benefit or suffer from their success when it comes to the value of your real estate.
For more information about local communities visit Community Info at Avenue3re.com
Be sure to download our Better Buyer Kit as well.
Prepared by Karen Lilley, Principal, Avenue 3 Real Estate