Steve Hodson has been chosen by Connecticut Magazine as a 5-Star Real Estate Agent for 2011! This is an extraordinary accomplishment being that ONLY 6% of Connecticut's licensed receive this award this year; this is an Elite Award.

Congratulations Steve! From everyone here at Hodson Realty, Inc.

Spring

Seems as though the warmer weather in Connecticut has brought out participants in the commercial real estate market. Hot commodities in Fairfield County include small, 2,000 - 5,000 sf professional and medical buildings for owner-users. If the locations are right, these buildings are in demand as a great alternative to leasing.

Happy Holidays

Happy Holidays to all! To my Jewish friends and associates - a most Happy Channuka.
To my Christian family and friends - A Blessed Christmas. And to any associates who may celebrate Quanza or any other specific holiday - May your celebration be a joy.

Commercial Medical Space

We have several leases pending with medical professionals who are seeking satellite offices in other communities or are simply expanding their existing space or consolidating their space.

One great option for physicians, dentists and other medical professionals is the medical office
condominium concept. These professional units allow the doctors to own their own unit and gather in a building that has other physicians. The collected occupancy of such medical office condominiums tends to allow for synergies between practices. If the building is newly constructed with a high amount of vacancy a buyer may be able to first acquire a smaller unit and also receive the right of first refusal on some of the adjacent, vacant.

The acquistion of this type of product can lead to an equity build up situation similar to that of owner your own residence. Just be sure that you select the best location for your practice and take into account your plans for future business growth.

Commercial Real Estate Activity

Leasing activity has increased with several companies seeking field offices in other communities and other companies entertaining start up businesses. Some market segments have grown and these businesses are seeking to expand while reducing their annual rent expense.

Some professionals are seeking purchase properties for owner/user purposes as financing levels are at very reasonably levels for buyers with sterling credit scores and outstanding financials.

Economy

NAR's economist, Lawrence Yun, states in a recent Realtor Magazine article that,
"It's safe to say we've reached the point where prices are justified by the fundamentals of the economy and may even represent an undervaluation."

I have seen an increase in real estate sales activity in the suburban Bridgeport market as entry level homes appear to be in demand. Buyers are taking advantage of the $8,000 First-Time Home Buyer Tax Credit which Congress approved. The repayment requirement has been eliminated.

New Year's Resolutions

Time to plan ahead for the New Year. My first tip is to consider refinancing
your mortgages. Interest rates are at an all time low and monies
are available if you have good credit and some equity in your property. Shop the interest
rate with several lenders and consider lowering the term of the note if you want
to work towards paying off the loan sooner than later.