Real Estate - Mutual Funds!
According to this past Sunday’s New York Times (Jan.8) in their end of the year round-up of mutual funds, real estate funds topped the list of all sector funds with a 4th quarter return of 14.8%. For the year, they returned 8%, which is second only to utility funds which returned 10% for the year. Not bad for a sector (approx. 300 funds) that is constantly barraged with “the sky is falling” media news.
What I find myself reminding people over and over again is that real estate is heavily influenced by the specific locale. Some towns have weathered the recession quite well, currently are doing quite well, and are likely to continue to show good activity and price stability.
In general, the towns closer to Boston have shown a robust housing market that is relatively stable. Meanwhile, outside routes 128 and 495, it’s a different story; be aware that each market is different.
By Adam Rosenbaum, Realtor® 617.694.8553
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