Data recently collected by Red Blue Realty suggests that the market for high-end Los Angeles real estate has prospered this summer. While there are many variables to consider, listed below is a selection of possible factors in the boom.
Besides buying a home to raise a family or to avoid paying rent, the most common reason for owning real estate in the United States is for its value as an investment -- this being especially true for high-end real estate.
While few expect property values to soar as high as before the burst of the last bubble, most prospective buyers polled by Red Blue Realty are at least confident that their investment will not lose value, and many are optimistic about potential returns in the future. Almost all of them agreed that they were receiving excellent prices on homes.
Likewise, many of those who currently have high-end have either already purchased new real estate or are planning to purchase real estate in the immediate future.