John SkinnerBelow you will find a line to a good article that appeared in the LA Times this past weekend about the high end home market. The reality has definitely hit seller’s and buyer’s are noticing. Agents are the busiest they have been with buyers in over three years in all price ranges.
Despite the challenges of getting jumbo financing, activity continues to get stronger with a flurry of cash buyers and foreign investors. High-end homes (over 2.5 million) properly priced 15-25% (depending on area) off the highs of 2006 are getting strong offers. However, expect prices to stay flat and trend further down (at a slower rate than 07-08) in this segment of the market for another 3-5 years.
Link: LA Times Article: High End Home Sellers Lower Their Sights
