An Unexpected New Trend In The Real Estate Market
In case, like a lot of people, you need in real estate news and browse the headlines regularly, chances are you could have read about it already…and in case you haven’t noticed it, then you will be very, very amazed about a new trend that may be contrary to what a lot of us expect…
To begin with, let’s focus on a few teaser questions…
Let us suppose you had big 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 have purchased one family houses, multi family houses, two bedroom condominiums, raw land, coastal property, luxury homes, or…?
Should you be trying to guess the answer, please complete so now before you read the rest of the article: -)
If you do your answer in 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 luxury houses, then give yourself two pats on the back, smile the biggest, most pleasant smile you have ever smiled…you may have made above a trillion dollars in profits: -)
For…
Luxury Homes are one of the best performing segments in the real estate market!
And what does that suggest?
Well, you need to consider this…according to a few sources, after a drop 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 home in California’s Bay Area is $2.88 trillion – a good increase of $336, 000 from the previous year!
And that is more cash than what selling several homes profitably could have made!
And just how many people might have foreseen this trend? Well, your guess maybe as well as anyone else’s in this regard!
While nobody might possibly determine how long this trend will keep on, there may be several other segments in the real estate market that might perform equally, if not better, in the future.
And the kind of possible segment could be…
Vacation Real Estate
Another rising trend has been that persons young and old were moving to destinations like the Mexican Riviera, and are either establishing home there or are purchasing second or 3 rd houses there…and gated communities are now being set up in areas which are not very long ago small little towns.
And the result – real estate values not seen before in the area…and the values are increasing too.
And how long will this trend keep on? Again, your guess could be as well as anyone else’s on this regard.
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