The state of Florida is known for its large mansions, sprawling estates and luxury real estate. While Florida home prices have been slashed due to the number of foreclosures, short sales and bank owned homes that have sold. These types of distressed sales are impacting our local market. Savvy investors and homebuyers are still searching and buying luxury real estate throughout the state of Florida.
Daytona Beach Luxury Real Estate
In our neck of the woods, Daytona Beach luxury real estate is quite affordable compared to other parts of Florida. Being a Florida resident almost all of my life, I do believe that Daytona Beach luxury homes are affordable compared to other exclusive neighborhoods in the state of Florida. But the question is, are these luxury homes really that affordable and is it easy to qualify for a mortgage? It's an interesting to see who can afford these homes and I wonder how they feel about Daytona's prices. Would they consider our luxury market affordable compared to other areas of Florida?
Florida Sprawling Estates - Florida Mansions - Florida Luxury Real Estate
There have been numerous housing reports on luxury market trends, according to Laurie Moore-Moore, founder of The Institute for Luxury Home Marketing, "The number of wealthy household in the United States and world-wide is almost back to where it was before the downturn. Add the fact that many high net worth individuals are reassessing their investments and rethinking how and where to invest. High-end U.S. residential real estate is attracting many of these dollars, Euros and Rubles. This bodes well for the luxury home market in the short term. Luxury may well be the real estate segment that leads to recovery."
South Florida Luxury Homes - Palm Beach Exclusive Properties
Reports on luxury real estate prices in Florida vary as real estate in general is local. Luxury real estate in Florida is no different and each piece of property's pricing varies due to size, location and exclusivity. South Florida is one of my favorite luxury markets and I wonder how it has been impacted. According to a recent article on Palm Beach Premier Real Estate, "the Palm Beach luxury market is still in limbo." Interesting, its just another reminder to get the facts from a professional real estate agent who specializes in luxury homes and understands market conditions and trends. I wonder if the luxury market is impacted nation-wide?
How is your luxury market doing and do you think this sector of real estate has bottomed out in your area and is it deeply impacted by say, distressed properties and the average price homes selling?