Jim Cramer of CNN, the street.com and other business media has called a market bottom to the real estate market. Read what Jim said on his television show Mad Money. Or, see the video of Jim Cramer saying “Buy Real Estate Now”.
December 19th, 2008 Bryan Bomba Posted in Real Estate Market Trends No Comments »
Jim Cramer of CNN, the street.com and other business media has called a market bottom to the real estate market. Read what Jim said on his television show Mad Money. Or, see the video of Jim Cramer saying “Buy Real Estate Now”.
November 10th, 2008 Bryan Bomba Posted in Real Estate Market Trends No Comments »
1. International buyers. Leading the way in this group are the Moscow millionaires. They are buying what they consider to be trophy properties located within a short distance to international airports. The monetary exchange rates have been helping these buyers as well. (See BryanBomba.com in Russian). Florida is leading the entire United States real estate market with this type of buyer. In fact, Florida has 26% of this market. Surprisingly, Illinois is a top ten state for international luxury home buyers.
2. Baby Boomers. This sizable demographic group is now in their 40’s, 50’s and 60’s. From a housing point of view, they are moving up (in size and price), moving down (in size and price) and considering/entering the retirements markets.
3. Singles. Compared to the other demographic home buying groups, the single people represent the largest growing category. These are people form a wide variety of age groups. These buyers are newly divorced, first time buyers and investors.
4. Investors. The savvy real estate investor has entered the marketplace. These buyers recognize the long term values being offered in today’s real estate market. Further, they are capitalizing on the incentives that real estate sellers are offering.
5. Senior Citizens. This group of buyer has varying interests, but real needs. Most are interested in downsizing their homes. Many have interest in age-restricted developments and/or assisted living housing opportunities.
October 20th, 2008 Bryan Bomba Posted in Real Estate Market Trends No Comments »
The Affluent Survey is an annual report put out by world-recognized affluent survey experts Ipsos Mendelsohn. A representative of the company presented a summary of findings and factoids to a group of Realtors who focus on the affluent home market in the united States. These Realtors were in attendance at the Leaders In Luxury conference this past week at the Hotel Gansevoort in Miami Beach. This annual realtor conference is the flagship event sponsored by The Institute For Luxury Home Marketing.
While the 2008 summary report of The Affluent Survey is 32 pages itself, here are some of the trends and findings:
Have you identified any trends of the wealthy not identified here?