The Real State of Real Estate
As the year comes to a close, I reflect on how the housing market has taken a beating from the media. In my part of town, and many others throughout the country, the doom and gloom scenarios just aren’t true. And it’s important that insiders like me share this news to offset the fear that is instilled in buyers and sellers.
Business is still good in LA’s high end. The following is an example of what I mean. It comes from CNN/Money’s website. To read the full article, click on this link.
The report, by research firm TNS, covers the year through mid-2006; the value of primary residences was not included.
The number of millionaire households has increased in each of the past four years, with the biggest growth spurt occurring in 2004, when the number of high-net-worth households jumped 33 percent.
Top 10 Millionaire Counties
As was the case last year, four of the top 10 counties with the greatest number of millionaire households are in California. Combined, those four California counties boast 561,255 millionaire households.”
Los Angeles County, which includes Beverly Hills and the Westside ranked number one in the “Top 10 Millionaire Counties” survey. For the top 10 click here.
If you’ve followed the news over the past few months, you’d think that foreclosures were as common as the hot sales a year ago. But this isn’t the case everywhere. Real estate is still in fantastic shape in many parts of the country, despite what the media may say.
In my region of the country, which includes Bevelry Hills, Brentwood, Malibu, Santa Monica, Bel Aire, and other parts of west Los Angeles, the market is still moving at a brisk pace. And it hasn’t experienced the rate of foreclosures that buyers and sellers may think were taking place everywhere. In fact, I have not experienced even one foreclosure.
It’s unfortunate that the media spotlight has focused little on real estate’s healthier side. In the meantime, buyers and sellers are reading websites and afraid that they may get burned if they act now. It’s just not true, and as professionals it’s our job to educate our clients. ♦Digg it ♦del.icio.us ♦Add to Technorati Faves
Business is still good in LA’s high end. The following is an example of what I mean. It comes from CNN/Money’s website. To read the full article, click on this link.
“Millionaire Households at Record: TNS finds those with $1 million in net worth tops 9 million for the first time.
By Jeanne Sahadi, CNNMoney.com senior writer
NEW YORK (CNNMoney.com) -- Another year, another record for the rich. The ranks of households with a net worth of at least $1 million grew 5 percent to an all-time high of 9.3 million, according to a report released Monday.The report, by research firm TNS, covers the year through mid-2006; the value of primary residences was not included.
The number of millionaire households has increased in each of the past four years, with the biggest growth spurt occurring in 2004, when the number of high-net-worth households jumped 33 percent.
Top 10 Millionaire Counties
As was the case last year, four of the top 10 counties with the greatest number of millionaire households are in California. Combined, those four California counties boast 561,255 millionaire households.”
Los Angeles County, which includes Beverly Hills and the Westside ranked number one in the “Top 10 Millionaire Counties” survey. For the top 10 click here.
If you’ve followed the news over the past few months, you’d think that foreclosures were as common as the hot sales a year ago. But this isn’t the case everywhere. Real estate is still in fantastic shape in many parts of the country, despite what the media may say.
In my region of the country, which includes Bevelry Hills, Brentwood, Malibu, Santa Monica, Bel Aire, and other parts of west Los Angeles, the market is still moving at a brisk pace. And it hasn’t experienced the rate of foreclosures that buyers and sellers may think were taking place everywhere. In fact, I have not experienced even one foreclosure.
It’s unfortunate that the media spotlight has focused little on real estate’s healthier side. In the meantime, buyers and sellers are reading websites and afraid that they may get burned if they act now. It’s just not true, and as professionals it’s our job to educate our clients. ♦Digg it ♦del.icio.us ♦Add to Technorati Faves
posted by Myra Nourmand at
4:59 PM
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