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The First thing to go is the High Ticket Items

Columbia Point, Richland Washington
Creative Commons License photo credit: The-Lane-Team

We have all experienced the recession in some way, and every market seems to have felt some sort of hit, even the luxury markets are feeling the crunch. In a failing economy the first thing to go is the high ticket items. Many smart investors know that we havent hit the bottom of the market yet and are waiting for prices to plummet even further before purchasing a summer home or a vacation get away, which is causing some of the low numbers in the market.

Of course, luxuries of any kind are the first to be shelved when the economy turns upside down. We are not talking about basic necessities we are talking about the extras people afford themselves during the good times. So, its the luxury housing market that is the first to go when things get rough. Many business executives have a positive outlook for the economy, and that may seem like good news, but the numbers of positive thinking executives are decreasing, weekly.

Due to a wide spread feeling of caution, the rich were just not buying because of the financial crisis of 2008. Now, during the first quarter of 2010 the numbers of luxury home sales, all around the country, went through the roof. Now those numbers are stabling a bit. People are looking for deals, and they are worried about which way the economy is going to go.

Jobs are down, manufacturing is down, and the GDP is down. People are cautious and simply afraid of a double dip recession. Everyone wants to see where the economy will go before they start purchasing again, especially purchasing the big ticket items.

Read the full article from Bloomberg Businessweek




Posted on July 08, 2010 13:08:12 by Blog Author IPTV.Boyz http://www.brokeriptv.com/the-first-thing-to-go-is-the-high-ticket-items
 
Survey Shows Rise in Real Estate Confidence Index for April

The April Real Estate Confidence Index (RECI) survey from Point2 Technologies showed that real estate brokers and agents across the U.S. share a forward-looking sentiment for improved market conditions, with uncertainty over the longer term weighing in on the Index.

The April RECI recorded a 5.82 (+0.87%) reading on the RECI scale, up from 5.77 in March (+2.49%). The scale rate options are  1- 10, with 1 being "bad" and 10 being "good" in terms of ranking confidence. This rise in confidence happened for the second month in a row, and April has seen the most positive feedback so far.

Other positive signs include more activity in higher price range properties in several states, a category almost completely bypassed in RECI respondent feedback since the Index debuted last summer.

Read more at RISMedia.




Posted on May 07, 2010 12:12:30 by Blog Author IPTV.Boyz http://www.brokeriptv.com/survey-shows-rise-in-real-estate-confidence-index-for-april
 
Become a Global Agent with IRES

Since 2007, more than 5,000 real estate agents around the world have gained their International Real Estate Specialist (I.R.E.S.) designation.

The IRES designation was co-founded by Audree Mevellec, in conjunction with Castles & Estates Magazine, to offer real estate agents the knowledge and the experience of Mevellec's success in the international and national real estate markets with the full understanding of legal, financing and economic aspects.

"Our certification deals with international clients who want to buy or sell properties in the U.S., helps U.S. clients buy or sell properties abroad, market domestic and international properties around the world, obtain legal and financing perspectives for international properties and probably most importantly helps agents obtain more local listings," says Mevellec.

Read more from RISMedia or at irescertifications.com.

Auto Maserati - Car Maserati
Creative Commons License photo credit: Ricardo Francone




Posted on May 03, 2010 15:37:22 by Blog Author IPTV.Boyz http://www.brokeriptv.com/become-a-global-agent-with-ires
 
Colorado Ranch Sells for $46.5M - Highest to Date for 2010

A Texas billionaire paid $46.5 million for a 3,500-acre Colorado ranch near Pagosa Springs, believed to be the highest residential sale this year.

Energy executive Kelcy Warren is benefiting from the trend of slowing demand in uber-luxury real estate, as the ranch was originally listed for $88 million two years ago and, more recently, $68 million, making his price of $46.5 a steal.

The ranch, known as Bootjack Ranch, was listed as one of the Top 10 Most Expensive Homes for Sale on Zillow last December.

Read more in the Wall Street Journal and on the Zillow blog.

Bootjack Ranch, courtesy Zillow blog




Posted on April 29, 2010 12:16:42 by Blog Author IPTV.Boyz
Blog Categories Posted in Luxury Home Market
http://www.brokeriptv.com/colorado-ranch-sells-for-46-5m-highest-to-date-for-2010
 
2010 Realtor Rally: CAR President George Harvey Discusses Real Estate Trends

In this BrokerIPTV video from the 2010 Realtor Rally in Denver, Mark Eibner talks to Colorado Association of Realtors President George Harvey about real estate market and trends.

Read more »




Posted on April 20, 2010 14:13:18 by Blog Author IPTV.Boyz http://www.brokeriptv.com/2010-realtor-rally-car-president-george-harvey-discusses-real-estate-trends