Real estate optimists

IFO’s sister said years ago something to the effect that if you buy a top-of-the-line house in great condition in the best neighborhood in the region, you will never lose money when it comes time to sell.

We’re not sure Dr. Housing Bubble‘s data bears this opinion out, but there’s an interesting view of high-end houses and the market for them in Forbes’s online magazine: America’s Most Expensive Zip Codes.”

Here’s the answer to what IFO wanted to know right away – which are the top three?

The thick concentration of some of America’s richest people helped make [Long Island ZIP code 11962, Sagaponack, N.Y.] the swanky Hamptons village the third most expensive ZIP code in the country for home sales this year, with a median asking price of $3,595,000. It comes in behind two zip codes that regularly grace the top spots of our list: Alpine, N.J., 07620, at No. 1, and Atherton, Calif., 94027, at No. 2.

Morgan Brennan, the reporter who wrote the article, clearly loves real estate, especially expensive real estate, so it’s fun to read her piece, up to a point. Then the endless prose linking zip codes, to prices, to locations just gets too tiresome.

However have fun, real estate loving investors!

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About InvestingforOne

I've been investing in various assets by myself using a discount broker for many years. Over that time, I've developed some theories that others might find useful. Plus, there is more to investing than money. Time, talent, work, friends, family all go into developing a good and satisfactory strategy.
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2 Responses to Real estate optimists

  1. I really hope the market rebounds soon I really love your site I am on your website a few times a week I do not usually leave comments I will leave your site on my twitter page. i wanted to ask if you use a RSS feed? I couldn’t locate it. I would love to put it in my feed reader.

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