There are many factors that go into determining market prices across the US and beyond. It’s often been said that real estate is a safe investment as long as one has the liquidity to hold investments through recessions. The very high-end market, especially, is a strong investment. Buyers can make Millions in just a few years if they invest at the right time.
After the housing crises in 2008, the market now has recovered and keeps moderately improving year over year. And while the mid range prices are expected to slow down within the next 1-2 years, according to many real estate experts, the high end properties (over $6 Million) is expected to stay strong. The reason is simple: the super wealthy remain wealthy even during economic recessions, so there is always a need for the hottest properties in cities like LA, NY, or Miami.
Over the next two years the mid range ($1,000,000 – $6,000,000) will take a slight hit and level out, while the market at the high end (over $8,000,000) will continue to increase. We’ve recently seen properties such as the Spelling Mansion in LA, or the latest High Rises in New York, for example 423 Park Street, go on the market for insane amounts. The Spelling Mansion was listed for a reported $150,000,000 while condos in New York were approaching $100,000,000 for the top positions. Not exactly pocket change for the average person. But then again, the top earners are not exactly average by any means.
Purchasing a home is very exciting but at the same time confusing. When buying a real estate... Read More
In getting a home, you need to make sure you have your finances ready or your mortgage ready.... Read More
Beverly Hills is one of the most exclusive luxury real estate neighborhoods in the U.S. The Beverly... Read More