LUXURY SALES RISE
As the United States waits and watches for indicators of a more solid economic rebound, a Florida luxury real estate firm is seeing local signs of growth based on luxury home sales in Pinellas and Hillsborough counties.
Smith and Associates Real Estate of Tampa Bay says the first quarter of 2011 has seen more homes selling in the $2 million-plus category, with some new high sales on both sides of Tampa Bay.
“People who understand the principle of cost versus price have realized that now is the time to buy,” says CEO Robert Glaser in a news release.
“With housing prices well below what they sold for a few years ago, and with mortgage rates below five per cent, luxury homes that once seemed un- obtainable are now within reach of more buyers,” he says. “At the same time, those with the means to purchase multi-million-dollar properties are finding that they can get a lot more for their money, and are seizing this opportunity to invest in high-end homes that are likely to increase in value over the coming years.”