Luxury Home - Investing The Proper Way
Luxury Home - Investing The Proper Way
Blog Article
Toronto has always been a place for the rich to enjoy their spoils by buying up luxury condo's that even a King would envy. But in the last two quarters of the previous year the market for luxury condos has flat lined. The number of new condominiums sold in the last quarter was a full 18% lower than the previous year. In fact, even the number of condos built was considerably lower (at least 1,000 less) than last year. But what is fueling this loss of growth, and what does it mean for the real estate market in general?
Social networking can put you in touch with like minded people from all corners of the globe. But, there still is something special about meeting new people right in your home town with whom you can share common interests. If you are a lifelong learner blogging also gives you an opportunity to learn new things.
This is particularly so regarding building plots and land and more recently towards agricultural land. With prices of development land being so expensive and with the planning laws allowing the development of a single house just about everywhere, the public's interest has been diverted with an increasing volume towards agricultural land, where prices have shown increases real estate in Marbella. excess of 30% - 50% over the last year alone.
Was it Mary Poppins who said "Accentuate the positive?" I'm not sure, but whoever it was, they were right. So sit down right now and write a list of all the benefits you can offer a buyer or real estate development. a seller.
Sugarloaf Foreclosures - The latest Foreclosure report shows 9 Sugarloaf homes that were given "notices benalus marbella of foreclosure" for the January 6th auction. Yes, there are a couple of well-known names on that list. This level of foreclosures is significantly higher than the 2-3 per month that we have seen throughout the year. In addition there are major builders of new homes in real estate company or service. Sugarloaf that had construction loans foreclosed upon by their banks. In 2008, there have been over 40 properties that have been given notices of foreclosure. There are currently 23 properties that are in some active form of foreclosure (from pre-foreclosure to bank-owned status).
Luxury real estate may also have historic value. Some of the more expensive homes were built between the 1800s and 1900s. So, in addition to prestige, such houses are also able to provide their owners with a more 'vintage' feel.
Richard Lehman, noted investment advisor, puts it this way: "Think about it, what better way to bail out debtors and clear out an excess housing inventory than through inflating the value of hard assets and at the same time diminishing the value of debt claims?" And all the government entitlement programs are keyed to the rate of inflation, so the politicians look like heroes.
It's great to travel and see the world. It reminds me of something a good friend of mine always says, "Some people have more money and more vision than us". Seeing the growth, prosperity and continued development (even now) of massive architectural icons being built on what was ocean six months ago is motivating.