Early signs of a recovery?

Earlier today I was speaking with an experienced broker who often represents buyers in both commercial and residential purchases. This person told me that there is a surge in interest in commercial real estate in the Greater Lowell area and also mentioned that many residential deals are slowly falling into place primarily because both buyers and sellers are acutely aware of the Federal government’s very generous first time home buyer credit. (As I understand it, to be eligible for this credit, you must execute a P&S agreement by the end of April and close by the end of June).

While the registry of deeds is certainly the hub of area real estate activity, our view is mostly through the rear view mirror. We only learn of transactions on the day they are consummated and not before. Consequently, we would be late detecting early indicators of an uptick that would be more visible to brokers and other real estate professionals.

Even in the best of times February is pretty dismal for recording activity. Hopefully the low level of activity that we’re now experiencing is the normal seasonal lull that masks a more robust spring.