While the value of luxury homes seems to have held up better than the rest of housing market, prices are starting to show decline due to recession, job losses, and sinking stock portfolios. Loan restrictions, and difficulties with appraisals also had effect on sales of luxury homes. Sales of less expensive houses on other side are accelerating as buyers and investors take advantage of bargain prices, low interest rates and first-time homes buyers tax credit.
The days on the market has really increased accross Bay Area on the high-end. The … (5 comments)
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