Hi - I write a weekly real estate column on Wellesley, a twice yearly summary called 'The Pinnacle Report', give seminars on this rather complex question, and I have an hour long lecture on the Wellesley Channel on what has happened to prices since the height of the market - the short answer is I suspect we're at the bottom. Prices, however, don't appreciate or depreciate uniformly in all price ranges. It depends on which price band in which you're looking. If you call Pinnacle we can send you the last few Pinnacle Reports and any of my Realtors can really bring you up to speed. I was having dinner last week with one of the country's leading economists (who happens to live in town as do I), and we agreed that Wellesley had dropped considerably less than most other places across the county. The spread I see is from -10% to -18%, depending on price range. As for the answer to your question - I'd rather have a hard asset like real estate in a blue chip town than anything else these days and I'm actually looking for investment property myself.... more
I am sorry to respond so late after your initial post. If you have not already decided upon an agent, I wanted to express my interest in working with you. I am an experienced broker/owner of an independent brokerage and have invested in distressed properties as well. I have my JD and worked for a large bank as a paralegal while in law school during the downturn of the 1990's. I know the in's and out's of the foreclosure and short sale processes from the inside and out.
Please contact me if I may be of assistance in answering any questions and I am always available to meet to discuss your investment strategy and goals. My information is available in my Trulia profile. Best of luck in your searches.