I need to apologize for my absence. I feel like a truck hit me. I haven’t blogged since before Memorial Day – and I feel so guilty! I’ve had so many ideas and topics I’ve wanted to discuss but I reached Critical Mass. I went on a great camping trip with a men’s group called The Gentlemen’s Social Club and did some kayaking on the Battenkill River. As soon as I got back my schedule exploded.

Part of the reason we kicked off the summer with a low cost camping trip is of course we are all feeling the effects of the recession – and the real estate business is no exception. My wife and I did some brainstorming and in an effort to take part in the “Creative Economy” we have begun renting out the first floor as a vacation rental rather than a long term lease. We enjoyed all of our tenants so far – no doubt… but the vacation rentals are a bit more lucrative in addition to having some other advantages…

1. We cover our entire mortgage provided we stay booked.

2. There is inevitably some vacancy which allows us to enjoy our entire property once in a while – spread out a little and maybe invite friends and family to come and stay with us.

3. The ability to “trade” our unit for other units abroad and dramatically save on travel expenses.

Anyway, we spent a week frantically cleaning, furnishing and decorating our rental unit. By the time we were done I was exhausted and we finished just an hour before our 1st guests arrived!

That entire week was like an ADHD episode. I couldn’t concentrate on anything. Everytime I’d get involved in a project for either the apartment or my real estate business, I’d get pulled off to the other. No complaints here though…we’re blessed to have a robust, thriving real estate career and the opportunity to make a little income with our investment property. The jury is out on how the vacation rentals will work but I’ll keep you in the loop in regards to our adventures.

The real estate market seems to be very segmented in Jamaica Plain right now. The higher end units seem to be slowing down a little while the under 300K crowd is ready, willing and able. The catch there is financing (getting quite tricky these days) and lack of quality inventory. Since May 1st we have 9 units either under agreement or closed which is pretty good even for a strong market. I attribute this to the decreased property values creating some opportunities for folks who never would have had a chance to enter the market had it remained a bull market. I guess every cloud has a silver lining…