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Mortgages – The Housing Market’s Crystal Ball

February 24, 2010 by admin · Leave a Comment 

300px Federal Funds Rate %28effective%29.svg Mortgages   The Housing Market’s Crystal Ball
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media httpgraphics8ny Fdlpb.jpg.scaled500 Mortgages   The Housing Market’s Crystal Ball

Advice for buyers: There are 2 lows in a purchase. There is the actual sales price and there is the interest rate for your loan. When interest rates rise, it can quickly erode the value of “waiting for the sales price to adjust.” Have your agent demonstrate. Give us a call 858 756 0593.

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 Mortgages   The Housing Market’s Crystal Ball

Rancho Santa Fe Resident, Enberg excited to announce Padres games

February 23, 2010 by admin · Leave a Comment 

NLW SD Insignia Rancho Santa Fe Resident, Enberg excited to announce Padres games

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New Padres broadcaster Dick Enberg has been in Peoria, Ariz., for the past six days, talking to players, manager Bud Black and general manager Jed Hoyer and, generally, watching these early workouts in preparation for his first season calling games on Channel 4 in San Diego. The 75-year-old Enberg, who makes his home in Rancho Santa Fe, north of San Diego, took a few minutes to answer questions from MLB.com.Why was it important to come out here to Peoria this week and how did you spend your time?

It’s been enormously productive. Part of it is just being in the environment, around the lexicon of the game, the strategy of the game and just talking baseball. Because baseball is so intimate, I have had the opportunity to talk with a lot of people. I had dinner with manager Bud Black and then with general manager Jed Hoyer. And just being able to go up to a player or a coach and they’ll give you time has been helpful. I’ve tried to keep as much contact as possible and keep my ears open.

I have seen you outside watching workouts on the field, watching pitchers throw off the mound and watching hitters in the cage. It seems you’re really getting a kick out of this experience.

Last night my wife called and we’re talking and she said, “I can tell it in your voice, you are really happy.” For me, it’s really been the right call at the right time. The other day I was watching Dave Roberts [former player, now special assistant to baseball operations] school some of the young guys on stealing bases. He’s talking about taking a lead, how not to get caught by the left-hander’s move. These are all the things I love about baseball. It’s a perfect time to be here. You can talk to so many people here without the pressure of a game later in the day.

This won’t be your first time being a play-by-play broadcaster for a Major League baseball team. Tell me about your experience calling California Angels games (1969-1978 and again in 1985)

I resisted it initially, even though it’s my favorite sport and my favorite game. But at the time, I was doing the pre- and postgame show on the Angels telecasts, which allowed me to do some little essays and interviews. I had a half-hour show and it was only me. I was doing the Rams radio, I was the UCLA television broadcaster, I was doing boxing from the Olympic Auditorium and the sports on the newscast in the evenings. I had a wonderful, full plate. They told me that if I took baseball, I would have to give up these other things. I said how about if I do it one year? I tried to quit my first year. The Angels were terrible. Fortunately, wiser heads prevailed.

You started working with Don Drysdale in 1973, doing the Angels games. What was that experience like?

When Don Drysdale became my partner … life became brilliant. It didn’t matter if you were winning or losing. With Drysdale, the broadcasts were fun. Being with Don … he wouldn’t let you get down. I would take the losses too seriously and he would say, “C’mon professor” — he would always call me professor — “they don’t care, so you shouldn’t care. I’ll buy you a drink.” I’ve been fortunate to have so many great colleagues. With baseball, you’re with that man more than in any other sport. He was always happy. It was a shame he went too quickly.

You didn’t arrive at the decision to accept this job calling games for the Padres easily, did you?

There were a lot of brain cells burned trying to think this through. I have an ESPN deal where I do three of the [tennis] majors — the Australian Open, Wimbledon and the French — and also the NFL package on CBS. I had shaped my life perfectly. There had been a few flirtations about baseball in the past. But how could I greedily keep doing the things I had been doing and do baseball? I learned in 1985, when Gene Autry hired me back to do 40 games, that baseball is a day-to-day-to-day games. You can’t just do a game here and a game there and miss two weeks.

With that in mind, how did you reach an agreement for a schedule that would allow for 120 or so Padres games while still doing the Australian Open and Wimbledon?

After the initial discussions, their original thought was they would structure a schedule where I did the games within the division and home games. That was a wonderful concession on their part. We gave it a lot of thought and said if I’m going to do this, I’m going to do it. We came back and said, ‘What if we do all the games, except the US Open?” I felt like if I’m going to be the announcer, I want to be the announcer.

What are some of the things you’re looking to most this season?

Had the Yankees, Red Sox or any other club called and offered me the same opportunity, I would have said, “No, thanks.” To be one of the baseball announcers in your hometown is important and it played a major part of this decision. When you think about the impact a baseball announcer has in his hometown, how many hours he’s on the air, it’s like 600 hours maybe, where you are exposed to your community — you’re an ambassador to your community. I really relish the opportunity to play that role. I look forward to a perfectly executed double play. There’s a rhythm and artistry about a double play that’s a beautiful thing. It’s four seconds and two outs, but it’s so much more than that. My creative juices are flowing. I was kidding with Bud Black and said, “Hey, look what I did for John Wooden.” [Enberg called eight of the Bruins' NCAA championship seasons].

Posted via web from slcorp’s posterous

 Rancho Santa Fe Resident, Enberg excited to announce Padres games

Home Construction Rose in January. Interest Rates Staying Low. Is Housing in Recovery?

February 17, 2010 by admin · Leave a Comment 

WASHINGTON (AP) Housing construction posted a better-than-expected increase in January, which pushed activity to the highest level in six months.

The Commerce Department said Wednesday that construction of new homes and apartments rose 2.8 percent last month to a seasonally adjusted annual rate of 591,000 units. That was better than the 580,000 annual pace that economists had forecasted.

Applications for building permits, considered a good barometer of future activity, fell 4.9 percent to a rate of 621,000, but that was after two months of large increases.

In another sign of strength, Wednesdays report revised upward data in December to show builders were starting construction at an annual pace of 575,000 units during that month, much stronger than the 557,000 originally reported. Even with the upward revision, activity was down 0.7 percent in December from the month before, a dip that was blamed on severe weather in many parts of the country that depressed construction activity.

Economists are hoping that housing is beginning to recover and a rebound in this area will help support the economy as it struggles to mount a sustained recovery from the deepest recession since the 1930s.

Januarys results were led by a 10 percent jump in activity in the Northeast and an 8.9 percent increase in the West. Construction was up a smaller 1 percent in the South and 3.2 percent in the Midwest.

The strength in January pushed construction activity up by 21.1 percent from the pace in January 2009. Last months building rate the fastest pace since July.

Construction of single-family homes rose 1.5 percent to a seasonally adjusted annual rate of 484,000 units while construction of multi-family units increased 9.2 percent to an annual rate of 107,000 units.

In other favorable developments, mortgage rates are hovering around 5 percent, pushed down by a Federal Reserve program to buy mortgage-backed securities. And builders say they are also seeing a boost in the demand for homes coming from a government stimulus program. That program provides tax credits of up to $8,000 for first-time home buyers and up to $6,500 for current homeowners who decide to move.

In another economic report, industrial production rose 0.9 percent in January, the seventh consecutive monthly increase as manufacturers help lead the nations recovery.

The Federal Reserve reported Wednesday that Januarys numbers rose in all three major categories: manufacturing, mining and energy utilities. That is the first such show of strength since August 2009.

It says manufacturing rose 1.0 percent, while mining and utilities each gained 0.7 percent.

The results are a more meaningful sign of economic progress than Decembers number, which the Fed revised up to 0.7 percent from the 0.6 percent reported earlier.

That increase was driven by weather-related increases in utility production, while manufacturing posted a 0.1 percent loss.

 

Posted via web from Rancho Santa Fe Homes

Doesn’t get much better than this! Beautiful Valentines day in Rancho Santa Fe!! View of Del Mar Country Club from our Senterra Listing.

February 14, 2010 by Tamara Stephenson · Leave a Comment 

OLYMPICS: Athletes set to shine at Olympics– Shaun White lives in Rancho Santa Fe

February 12, 2010 by Tamara Stephenson · Leave a Comment 

OLYMPICS: Athletes set to shine at Olympics

Shaun White, Gretchen Bleiler, Rachael Flatt are names to look for

BY SCOTT BAIR – sbair@nctimes.com | Posted: February 11, 2010 11:54 pm | No Comments Posted | Print

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 OLYMPICS: Athletes set to shine at Olympics   Shaun White lives in Rancho Santa Fe

buy photo OLYMPICS: Athletes set to shine at Olympics   Shaun White lives in Rancho Santa Fe

Nathan Bilow Shaun White of Carlsbad holds up the gold medal he won at the men’s snowboard slopestyle at the Winter X Games 13 last January. (File photo by Nathan Bilow – Associated Press)

160 600 OLYMPICS: Athletes set to shine at Olympics   Shaun White lives in Rancho Santa Fe

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Shaun White, the scrawny redhead from Carlsbad, is undoubtedly the most recognizable winter-sports athlete on the planet. And his popularity should only increase after this year’s Winter Olympics, which start Friday evening in Vancouver, British Columbia.

But White isn’t the only athlete with local ties and a chance to strike gold.

Part-time Carlsbad resident Gretchen Bleiler is the favorite to win the women’s snowboard halfpipe competition, and former Del Mar resident Rachael Flatt enters the women’s figure skating competition riding high after winning the U.S. championships last month.

“It’s going to be fantastic,” Flatt told reporters after her surprise victory. “I’m so excited.”

Bleiler reached favorite status after a solid qualifying run in the U.S. Grand Prix series and an X Games victory over a talented field in late January.

“This is great momentum for me,” Bleiler, a silver medalist at the 2006 Olympics in Turin, Italy, said in an X Games press conference. “Just knowing I’m capable of this is great confidence. Going to Vancouver with these girls, we’re going to try to sweep that podium.”

Medal sweeps is something White is already familiar with.

He began dominating snowboarding and skateboarding competitions at age 15 and has been a celebrity in action-sports circles ever since. When he won the gold medal in snowboarding at the 2006 Olympics, his celebrity reached the mainstream.

Fast-forward four years, and White’s popularity hasn’t waned. The quick-witted snow carver has remained an action-sports icon and a marketing dream, pushing everything from Burton snowboards to Target stores.

Increased wealth prompted a move from Carlsbad to Rancho Santa Fe, but it didn’t stifle his competitive drive. White continues to challenge himself with dangerous maneuvers on the halfpipe and is once again favored to win gold in the 2010 Olympics.

White has been feverishly working to perfect a new signature move, dubbed the Double McTwist 1260, in which he does two head-over-heels flips while rotating 3 1/2 times.

He has landed it several times, but suffered a frightening crash when he under-rotated the move during an X Games practice run. White landed on his head and emerged with a nasty facial abrasion, but that didn’t deter him. He attempted and successfully executed the maneuver in the competition and won X Games gold.

“I was pumped to get it done, to land the trick, to take first tonight and to actually walk away from that plant and still be going to the Olympics,” White said in a post-competition press conference.

The 17-year-old Flatt and fellow American skater Mirai Nagasu will face stiff competition from Korean Kim Yu-Na, Japan’s Mao Asada and others, but an upset is always a possibility in such a technical, often unforgiving sport.

“We need to embrace the challenge, and I’m sure we’re both up for it,” Flatt said after the U.S. championships. “We’re young and spirited.”

That could also easily define White, whose eccentric personality and media savvy made him a magnet for paparazzi during an extended victory tour after the 2006 Olympics. He was seen at Hollywood parties, had his picture on the cover of Rolling Stone magazine and enjoyed a brief flirtation with figure skater Sasha Cohen.

He knows popularity must be validated by performance in the Olympics, which White acknowledges as the biggest competition of his career.

“It’s just a monster event,” White said after the 2006 games. “It’s worldwide, and it was fun to be a part of it. It meant a lot to me now that I’m older to wear U.S. on my chest. It was heavy. It wasn’t like rolling into X Games on my own. I was representing the whole country.”

On that international stage, you could say that White and the others will be representing North County, too.

Posted in Olympics on Thursday, February 11, 2010 11:54 pm Updated: 12:01 am. | Tags: Top, Nct, Sports, Olympics,

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Marketing Perspective: Prudential’s Luxury Properties Division

February 9, 2010 by admin · Leave a Comment 

 Marketing Perspective:  Prudentials Luxury Properties Division
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Prudential California Realty held its annual Luxury Properties Division meeting at the St. Regis in Monarch Beach, CA.  This year marks the third year of the meeting of the group of agents (of which I am one) who specialize in the luxury residential market and, once again, the conference was rich with creative ideas and suggestions to effect better results for our clients, as well as presentations of market conditions delivered by the most respected real estate professionals in the industry.

Ron Peltier, CEO, Home Services of America (the division of Berkshire Hathaway, which owns Prudential CA Realty), delivered the yearly market perspective.  Ron is an outstanding speaker and commands a wealth of knowledge and insight.  In summary, he said:

There are 4 major factors controlling the real estate market today:

High Unemployment, which will continue through 2010.  Not only do we have high unemployment, but also under employment.  And, as employment drives the buying market, recovery can only start with job growth.

Foreclosures, which numbered 1.50 million in 2008 and 2.0 million in 2009, are projected to be 2.5 million in 2010 and staying at 2.5 for 2011. Also, of the 55 million mortgages in the US,     8 million (approximately 16%) are delinquent–delinquent being defined as 90+ days late in payment). Obviously, delinquency is the first step toward foreclosure.

Consumer Confidence is historically low.  When the equity market collapsed, Americans lost 10 years in gains.  Additionally, real estate, tradionally considered a “haven” lost approximately 25% of its value. Combined, the “wealth destruction” totaled $7 trillion.  People NOW know that real estate is volatile.

Inventory is high.  Historically, the 10 year average is 2.5 million properties  on the market; today we have 3.7 million homes on the market–40% more than normal.  Plus, 8 million homes are in distress.  Distressed homes  are driving prices down.

Where is the “Silver Lining” for the market? Buyer or Seller?

Essentially, the positive factors are:  Affordability has  NEVER been better (Buyer)

Interest Rates are Very Low (Buyer)

Inventory presents Great Choices (Buyer)

and, finally, Mr. Peltier believes that price destruction will end after the 1st half of 2010,  a celebration for SELLERS.

 Marketing Perspective:  Prudentials Luxury Properties Division

Rancho Santa Fe, CA Real Estate Market Conditions

February 8, 2010 by Tamara Stephenson · Leave a Comment 

Up to date Market Statistics for Rancho Santa Fe. If you would like specific neighborhood information or have questions, call us at 858-756-0593.

7-day stats for Single Family properties in
RANCHO SANTA FE, CA as of February 5, 2010
Median List Price $3,395,000 Average List Price $4,348,079
Total Inventory 253 Price per Square Foot $542
Average Home Size 6,192 Median Lot Size 86,249
Average # Beds 5.09 Average # Baths 5.52
Homes Absorbed 9 Newly Listed 9
Days on Market 304 Average Age 18

Median List Price is holding and we expect to see more inventory coming on the market now that January is behind us.

 Rancho Santa Fe, CA Real Estate Market Conditions

Median Price for homes in RANCHO SANTA FE, CA All ZIP Codes as of February 5, 2010 is $3,395,000

 Rancho Santa Fe, CA Real Estate Market Conditions

Inventory for homes in RANCHO SANTA FE, CA All ZIP Codes as of February 5, 2010 is 253

 Rancho Santa Fe, CA Real Estate Market Conditions

Average Days on Market for homes in RANCHO SANTA FE, CA All ZIP Codes as of February 5, 2010 is 304

 Rancho Santa Fe, CA Real Estate Market Conditions

Median Price Per Sqft for homes in RANCHO SANTA FE, CA All ZIP Codes as of February 5, 2010 is $542

When you look at the charts.... the overall reduction in price per square foot is dramatic. The buyer can get A TON for his $$$$$.

 Rancho Santa Fe, CA Real Estate Market Conditions

Building Plans for Upscale Properties Begin to Gain Momentum -San Diego Business Journal

February 8, 2010 by Tamara Stephenson · Leave a Comment 

Posted date: 2/8/2010
Market Stabilization Brings Renewed Interest in High-End Homes

REAL ESTATE: Building Plans for Upscale Properties Begin to Gain Momentum

The market for high-end homes costing more than $800,000 has slipped since the end of the housing boom, but builders say there are increasing signs of a turnaround.

“The market in my mind has stabilized,” said longtime San Diego builder Bill Davidson, president of Davidson Communities. “It is not falling like it was last year, and that is very important. No one wants to buy a house when they think the market is falling.”

With prices stabilizing, Davidson has begun to prepare for a real estate rebound.

“We are actively trying to buy more land now because we can price our homes profitably,” he said.

His company has upscale production homes under construction in La Costa and Del Sur in North County. They range in price from the $700,000s to more than $1 million. Tight credit has made it more difficult for upper-end buyers to secure loans, however. Conditions were much different just a few years ago, when loan underwriting standards were looser and customers bought big homes “with all of the gadgets and luxuries that we could pile on,” Davidson said. Since the recession hit, high-end buyers have been seeking smaller, simpler dwellings.

At McCullough-Ames Development Inc., Principal Monty McCullough typically builds custom $1 million, estate-style homes on 1-acre lots. Most of the firm’s recent projects are in North County, near the coast and along the state Route 56 corridor, between the Del Mar area and Poway. Even these buyers are looking for ways to stretch a dollar. McCullough presses his subcontractors for the best prices and passes the savings along to customers.

“Everybody has been hit by the recession,” he said. “… I felt my business starting to tail off by the summer and fall of 2004. Since the spring of 2009 we have built 15 homes, under contract or just finished.”

empty Building Plans for Upscale Properties Begin to Gain Momentum  San Diego Business Journal

Scaling Back On Size

Like Davidson, McCullough said his customers are downsizing a bit.

“The average home is right at or under 5,000 square feet,” he said. Not long ago, 6,000-square-foot to 9,000-square-foot homes were common in the custom market.

Custom builder Terry Wardell of Wardell Builders Inc. estimates that the size of the upper-end market had declined by about 50 percent from its peak. Wardell builds most of his homes in La Jolla, Del Mar, Rancho Santa Fe, Point Loma and Mission Hills.

“I think 2010 will be stronger than 2009, but it is still going to stay pretty flat,” he said. “Construction prices probably are 25 percent off their peak.”

Analyst Russ Valone, president and CEO of the MarketPointe Realty Advisors research firm, has been tracking $800,000-plus home sales. In 2005, such homes made up 49 percent of the detached housing market here. In 2006, the percentage was 44 percent. Last year, the share was down to just 20 percent.

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next arrow Building Plans for Upscale Properties Begin to Gain Momentum  San Diego Business Journal

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With Tiger out and Phil finishing at 19th — Ben Crane wins the Farmers Insurance Open by a stroke

February 1, 2010 by Tamara Stephenson · Leave a Comment 

150x100 With Tiger out and Phil finishing at 19th    Ben Crane wins the Farmers Insurance Open by a stroke
Image by Getty Images via Daylife

Crane started off with three birdies in his first five holes, with the highlight coming at at the par-3 3rd hole where he dropped a 46-foot birdie bomb. On the back nine, Crane went up by three strokes on the field after a 47-foot birdie bomb at the par-3 11th hole, but bogeys at the 13th and 17th holes dropped the lead to a single stroke. Crane missed the fairway at the par-5 18th hole, but he laid up his second shot and his approach found the first cut only 4-yards away from the cup. He was able to two-putt from there to win his first tournament since 2005 US Bank Championship. The win is the third career victory for Crane on the PGA Tour and the championship has earned him an invitation to this year’s Masters and PGA Championship.

 With Tiger out and Phil finishing at 19th    Ben Crane wins the Farmers Insurance Open by a stroke

Most Expensive U.S. Small Town: Sagaponack, N.Y. -FAIRBANKS RANCH IN RANCHO SANTA FE ranks Number 5!

January 28, 2010 by admin · Leave a Comment 

IMG 0342 300x152 Most Expensive U.S. Small Town: Sagaponack, N.Y.  FAIRBANKS RANCH IN RANCHO SANTA FE   ranks  Number 5! This Long Island village and other privileged enclaves have weathered the real estate crisis better than most small communities

As recently as the 1970s, the little village of Sagaponack in New York’s Long Island was little more than a stretch of dusty potato farms connecting the relatively plutocratic communities of East Hampton and Southampton. In addition to indigenous farmers, it was home to such writers as George Plimpton and Kurt Vonnegut, who were happy to take advantage of its low real estate prices, laid-back charm, and easy access to the Atlantic Ocean.

More from BusinessWeek.com

» The 50 Most Expensive Small Towns in America 2010

» Foreclosures in 2009: The Hardest-Hit States

» Best Places to Raise Your Kids: 2010

The ocean is still there, even if it’s harder to access. But the days of low real estate prices and laid-back charm are long past. Thanks to wealthy home buyers such as Renco Group Chairman Ira Rennert, who built a controversial 29-bedroom mansion on 63 acres there in 2004, Sagaponack has morphed from a quiet backwater into the most expensive small town in America. The New York Times in 2004 estimated Rennert’s mansion, Fair Field, to be worth more than $170 million.

In 2009 the median home sale price in Sagaponack was $4,421,458, according to real estate site Zillow.com. The median home price in the U.S. last year fell to $174,100, according to the National Association of Realtors.

Sagaponack is not the only rarefied real estate market, no matter how poorly the country’s housing market is doing. Long Island’s two counties, Nassau and Suffolk (where Sagaponack is located) account for more than half of the 50 most expensive small towns in America. Nearby Water Mill (No.6) and Bridgehampton (No. icon cool Most Expensive U.S. Small Town: Sagaponack, N.Y.  FAIRBANKS RANCH IN RANCHO SANTA FE   ranks  Number 5! command median sale prices of $2,238,676 and $2,081,717, respectively.

Prices in a Few Top-50 Towns Rose

While Long Island may win honors for hosting the most concentrated cluster of high-priced homes in the U.S., it is not alone in attracting super-rich buyers. Jupiter Island, Fla., home to Fields, Fords, and other old-money families, as well as newer wealth such as golfer Tiger Woods, is the U.S.’s second-most expensive small town, with a median sale price of $3,620,310.

Jupiter Island is also one of a few communities that saw prices rise last year. Zillow.com estimates that prices there climbed 19.4% in 2009, while average sale prices elsewhere were falling by as much as 80%, according to NAR. Some additional top small towns (those with a population of 10,000 or less) saw an increase, with further gainers including Los Altos Hills (No.4) and Woodside (No.7), both in California, and Wainscott, N.Y. (No. 13).

The median decrease in home value across the country’s 50 most expensive towns in November 2009 was -5.4%, compared to -5% nationally. “Home sales volume reached a low point in early 2009 and I think [it] will continue to increase or stay flat,” says Stan Humphries, Zillow’s chief economist.

Wealthy homeowners may be in for good news in 2010: NAR’s monthly data shows that home sales in all price ranges nationwide showed year-on-year increases in November. Sales of homes costing more than $1 million increased in every region but the Midwest. They represented 1.1% of total sales.

2009: “Nerve-Racking for Everyone”

If Wall Street’s bonus season is as generous as many expect, the Hamptons should be primed for a buying surge. Marilyn Clark, an agent for Sotheby’s International Realty, says that in the past four to five months, activity in Sagaponack has rebounded for both homes and land sales, ranging from oceanfront homes and historic homes to new construction and parcels of vacant land. “During the early part of 2009 when everyone was more uncertain about the economy, there were price adjustments, but since the Sagaponack market has proved strong, prices are currently holding,” Clark writes in an e-mail.

In Hunts Point, Wash., the country’s third-most expensive small town, a property’s average time in the market jumped to 149 days, from 83 days before the recession, estimates Randi Brazen, co-owner of Brazen Sotheby’s International Realty in Bellevue, Wash. While home prices in the area have fallen more than 20% in some cases, Brazen says they typically hold their value in the long term because few are available in a region that remains attractive to the rich.

Saying that 2009 was “nerve-racking for everyone,” Brazen expects the real estate market in Hunts Point to rebound as employment opportunities in nearby Seattle improve. “That doesn’t mean prices will snap back up, but it will stop the downward spiral we’ve seen in the past year and a half,” she says.

In Sagaponack, Jupiter Island, and America’s other most expensive small towns, it seems that wealthy homeowners can look forward to even higher prices down the road.

Top 5 Most Expensive Small Towns

1. Sagaponack, N.Y.

2. Jupiter Island, Fla.

3. Hunts Point, Wash.

4. Los Altos Hills, Calif.

5. Fairbanks Ranch, Calif.

Click here to see the full list of the 50 Most Expensive Small Towns in America.

Posted via web from Rancho Santa Fe Homes

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