Tag: luxury homes

Home Sales Plunge Over 30 Percent in Biggest Drop on Record: Redfin

January 3, 2023
Business & Marketseconomyhome prices fallhomebuyer demandluxury homesnon-luxury homesreal estateU.S. home salesUSUS Real Estate
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Sales of luxury and non-luxury homes fell by more than 30 percent in the three months ended Nov. 30, with price growth nationwide slowing down, among which Californian metropolitan areas saw some of the biggest sales declines, according to real estate brokerage Redfin. Luxury home sales fell by 38.1 percent during the period year over…

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California Leads US in Slumping Luxury Home Sales

September 27, 2022
California housing marketeconomyLocal Newsluxury homesmortgage rateNorthern CaliforniaRegional NewsRegional-Local NewsSouthern CaliforniaUS
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California leads the U.S. in plunging luxury-home sales, according to a recent report by the national real estate service Redfin. The City of Oakland experienced the most dramatic drop in luxury home sales, decreasing by 70 percent in the three months prior to Aug. 31 compared to the same time last year. In San Jose…

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Dream of Luxury Vacation Home Ownership Morphing Into Nightmare for Some Local Neighbors in California

September 17, 2021
Business & EconomyCaliforniaCompaniesLocal Newsluxury homesNorthern CaliforniaPacasoRegional-Local NewsUSvacation home
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For anyone who has ever dreamed of owning a multi-million-dollar vacation home in a luxury resort area in the United States or abroad, a San Francisco-based start-up firm claims it’s now possible–even if you’re not a multi-millionaire. Pacaso, founded in 2020 by former Zillow executives Austin Allison and Spencer Rascoff, offers “the modern way to…

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Sydney Luxury Home Market Set to Lead the World in Growth, Topping Miami and LA

July 21, 2021
Australiaaustralian property marketInternationalKnight Frankluxury homesreal estate marketWorld
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Sydney’s luxury home market is expected to lead the world in growth, with London-based global real estate consultant group Knight Frank predicting a 10 percent price jump in 2021. In its latest research, Sydney is also forecasted to top Miami (6 percent) and Los Angeles (5 percent) in prime residential property price growth this year….

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Fraudsters Use COVID-19 Relief Funds to Buy Luxury Homes, Jewelry

June 29, 2021
courtCOVID-19 reliefCOVID-19 southern CaliforniacrimediamondsFraudgoldjewelryLocal NewsLos Angeles Countyluxury homesRegional-Local NewsSouthern CaliforniaUS
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LOS ANGELES, Calif.—Sentencing is scheduled Sept. 13 for four Los Angeles residents found guilty of scheming to submit fraudulent loan applications under which they and their co-defendants obtained more than $18 million in COVID-19 relief funds used to put down-payments on luxury homes in Tarzana, Glendale and Palm Desert and purchase jewelry and other high-end…

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