Will that be cash or charge?
By Matt Carter, Monday, February 18, 2008.
Homes and condos priced at more than $3 million weren't lingering on the market in the San Francisco Bay Area during the final quarter of 2007 -- 40 properties valued at $213.8 million changed hands, almost double the number a year ago, the San Francisco Chronicle reports.
"High-end homes operate in their own universe because the availability is limited and the very wealthy are largely immune to the main factors dragging down the broader market," the story explains. You know, troubling little details like "tight credit, prices that outpace incomes and subprime mortgages [which] aren't of particular concern to the wealthy, who can often pay all cash."
Chase International CEO Shari Chase, who has a $100 million listing on the market in Lake Tahoe, tells Inman TV that last year was one of the best ever for the firm in the luxury market.
The $100 million listing, Tranquility (pictured), has been on the market for about a year and a half, but Chase says there are a very limited number of buyers for a property like this and that it takes time to get the word out, using methods including video.
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