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New
Luxury Homes
New
Luxury Homes. What are the benefits of owning and
living in a new luxury home? Real estate is unique in
products in that there are only so many locations, and
unless one tears down an existing house and rebuilds
a new home on the same piece of land, many people have
to accept living in a house that has had prior residents
living in it. But for those fortunate enough, the feeling
of living in a brand new home - one that has not had
anyone living there before you, is a truly wonderful
experience. Among them may be the feeling you get when
you are where you want to be and where you feel comfortable.
Learn more about luxury housing or click on the related
links.
Real
Estate values locally
Types of homes
Custom building |
Supporting your interests,
hobbies and vocation
A decade ago, million-dollar houses were uncommon. This is
no longer true. Houses worth one million dollars or more Even
the Census Bureau realized that its top category of property
value for primary residences needed upgrading. It increased
the top category from “$500,000 or more” in the
1990 Census to “$1,000,000 or more” in 2000. The
increase in “million-dollar” homes is a combination
of the caliber of homes built in the last decade and the rising
value of existing homes.hree forces account for the growth
in the number of million dollar homes. One driving force is
the rapid growth of household wealth in this country and the
widening of the gap between the wealthy and the poor. Another
is the rapid growth in income among the top quintile: as more
households reach higher income levels, more households can
afford “million-dollar” housing. A final factor
is the escalation of existing home values ahead of income
growth, especially in California and Northeast markets with
tight housing supplies.
More about luxury homes
Sometimes government sources come to different estimates of
the total number of “million-dollar” homes owned
as primary residences. The Census arrives at a lower and more
conservative estimate because it is based on a sampling method
that is not aimed at fully representing the wealthiest households.
However, it has the distinct advantage of providing geographic
detail on the location of “million-dollar” homes.
There is no reason to believe that there are systematic biases
in the estimates across geographic locations. Thus, the Census
gives a good indication of a lower bound estimate in each
place and a reasonably reliable indication of the geographic
distribution of “million-dollar” homes owned as
primary residences.
The San Diego real estate market has
created quite a dilemma for some homeowners. For example,
you have several hundred thousand dollars in equity in your
home, yet you live 10 feet from your neighbor! But, it is
thrilling to discover the amount of wealth you have amassed
in your home, and you've even considered moving on and purchasing
a larger residence for your growing family --especially with
the huge down payment your current home will avail you. But
where do you go ... another more expensive tract home? Or
are you ready for a brand new luxury home?
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