It appears that Real Estate has hit bottom or has definitely defined the bottom in many markets. In 2009 Real Estate transactions were up 40% for combined residential along Scenic 30A. Across the country real estate transactions were up. Media has bombarded us with good news about real estate trying to sway people from waiting on the side lines to begin to purchase real estate again. With mortgage rates and home prices at records lows, now is the best time to buy.
This was an interesting article by Forbes housing reporter and analyst Francesca Levy. She makes some thought-provoking predictions in the latest issue of the magazine.
• Financial troubles in Dubai will ripple through the U.S. luxury market, creating energy in a market that has been stagnant.
Did you know: The world’s tallest building the Burj Khalifa recently renamed for the Abu Dhabi president who bailed out Dubai late last year. Apartment prices in the Burj, owned by the developer Emaar Properties, have fallen by nearly half from the $2,700 per square foot that they fetched at their 2008 peak. Analysts also suspect that investor debt will sour.