Recognize The Latest In Real Estate Market
In case, like a lot of people, you need in real estate news and also browse the headlines regularly, chances are you could have read about it already…and in case you have not noticed it, then you may be very, very shocked about a new trend which can be opposite to what most people expect…
To start with, let’s focus on a very few teaser questions…
Let’s suppose you’d lots of money…hoards of it…in early 2000, and were ready to invest it in real estate.
The question is…
What kind of real estate do you think you’ll have acquired?
Would you’ve bought one family houses, multi family houses, 2 bedroom condos, raw land, coastal property, luxury properties, or…?
In case you are trying to guess the answer, please complete so now before you read the rest of the article: -)
If you do your answer in your mind, let’s proceed…
If your answer is been among single family homes, multiple family houses, two bed room condos then give yourself a pat on the back…you may have made a good tidy money…
And if your answer is actually luxury houses, then give yourself two pats on the back, smile the biggest, most pleasant smile you have ever smiled…you could have made more than a trillion dollars in profits: -)
For…
Luxury Homes are one of the best performing segments in the real estate market!
And what does that indicate?
Well, you might want to consider this…according to a few sources, after a decrease of 7.1% in 2001, this particular segment gained 3.6% in 2002, 0.3% in 2003, 13.7% in 2004, and 13.2% in 2005…
And just how would that mean regarding money?
Reported by the Prestige Home Listing, the price of an ordinary luxury house in California’s Bay Area is $2.88 trillion – an increase of $336, 000 from the previous year!
And that is more money than what selling a few homes profitably might have made!
And just how many people may have foreseen this trend? Well, your guess maybe as good as anyone else’s in this regard!
While nobody could probably determine how long this trend will continue, there could be several other segments in the real estate market that might perform equally, if not better, in the future.
And the type of possible segment could be…
Vacation Real Estate
Another developing trend has been that persons young and old are moving to destinations just like the Mexican Riviera, and are either starting home there or are purchasing 2nd or 3 rd homes there…and gated communities are now being set up in areas that were not very long ago small little villages.
And the result – real estate values not seen before in the area…and the values are increasing as well.
And how long will this trend keep on? Again, your guess could possibly be as well as anyone else’s in this regard.
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