Improvements in Luxury Housing Market

Toll reports positive results in fourth quarter | The Real Deal | New York Real Estate News

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Great artice.

As a luxury home-builder I can attest to the growth in interest in the luxury home building market. We have also noticed that homebuyers have shifted their demands to new homes versus lived in homes.

Despite the rough year builders have experienced, this year, there is a light at the end of the tunnel; things in the housing market are improving. We are headed for better times the outlook is positive. We can’t ignore that we will face some months in which it appears that things are not getting better, but it is only normal; we need to keep our attitudes positive and keep moving forward.

Though the traffic may appear to be less it has become a matter of quantity versus quality. Like Toll Brothers we have noticed that those that come to look have already done online research before hand and are much more serious buyers. People are using a lot more caution than they were so things are also moving at a slower pace.

Another thing is the extension of the 8,000 new homebuyer tax credit until April. This will continue to encourage people to buy now. This really is the best time for homebuyers to take advantage of the power of negotiation and the tax credit.