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Luxury Homes Taking A Hit

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Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
Over the weekend, the Dallas Morning News posted a report about homes over $1 M. The number is up SIGNIFICANTLY, days on market are well up, and prices are being reduced. For example, home that cost $20M, now on market for $12M, no takers. The bloom is off the high $$$ homes in this market, with builders holding $1M lots and not getting any takers for high $$$ build jobs, especially with the glut on the market.

ROger
 

jtrotta

Senior Member
Joined
Jan 16, 2002
Think maybe we're at the TOP :mrgreen:

seems to me ifn I remembers the last market eruption, it began out West an traveled this way - hmmmm


:ph34r:
 

Ghost Rider

Senior Member
Joined
Apr 27, 2003
Professional Status
Banking/Mortgage Industry
State
Connecticut
Upper market still HUMMING in CT......just did a 1.1 million sale with 3 days and 2 pendings on the street today - great market for realtors (buyer broker on all of them was 3% - go figure)
 
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