As the great fighter Muhammed Ali was once , “King of the World” so to are those serious about buying high-end real estate. As the recession filters its way through the market, an interesting development has occurred. There are now bargains in the high-end luxury home market. For years high-end real estate stood well on its own and held its value but now there is a shift in the landscape on Cape Cod and other luxury markets. Here are some recent articles about high-end real estate and why now it is the best deal in town.
http://www.google.com/hostednews/ap/article/ALeqM5inqwDvP3vJn6sB15FKKpz0sORSwAD9AV3GE84
http://online.wsj.com/article/SB10001424052970204488304574429311693264646.html?mod=googlenews_wsj
On a local note, year to date as of August 31,2009 versus 2008 the number of sales are down 49% and the sales volume is down a whopping 52% for Cape Cod real estate listings over a $1,000,000. In plain english there are plenty of listings available and very few of them are selling. If you are lucky enough to be a buyer of high-end real estate you truely are ”the king of the world.”
