The current economic troubles have also hit Connecticut, but there is no problem of oversupply in the state; inventory levels have been stable, likely on account of Connecticut housing not having been subjected to the levels of speculative investment which other places have undergone, such as Florida and Nevada. Connecticut is continuing with its generally pro-business policies and there is no sign of an exodus of commercial tenants, either. It has certainly also helped that media attention has been directed elsewhere, and the panic selling that's ensued elsewhere has not gripped the Connecticut real estate market.
Connecticut has the most expensive estates in the country second only to California, with over three percent priced over a million dollars at the turn of this century. Most such residences are located in the northeastern part of the state, with median values assessed in the multiple millions, Isaac Toussie comments. The southwestern part lies within the greater metropolitan area of New York City. Indeed, three of Connecticut's eight counties form the Tri-State Region with New York and New Jersey. Despite the economic downturn in the rest of the nation, Connecticut real estate has not experienced too much turmoil. Though credit has tightened, inventory remains steady.
Statewide inventory of condominiums in Connecticut have stayed at consistent levels regardless of the economic downturn of late, which is a good omen that bodes well for the whole real estate market there. Thanks to government action that's maintained credit lines, there is actually some good news for those savvy enough to "connect the dots."
Mortgage interest rates have dropped steeply and there is a tax credit stimulus package for first-time home-buyers with $7,500.00 available. Finally, people have got to live somewhere, so any decline in the condominium market can only be temporary. This is a market with a lot of upside, Isaac Toussie believes.
The ideas in this article have been presented strictly for informational and human interest purposes only, not for advisory purposes, and should not be depended on in any way by any person or institution. The reader should not rely on the veracity of any of the content provided herein. The reader is urged to seek a variety of professionals when making business or any other significant decision, including accountants, lawyers, investment advisors, insurance companies and the like. Again, this article has been posted merely for human interest and informational purposes, not for advisory purposes. - 31387
Connecticut has the most expensive estates in the country second only to California, with over three percent priced over a million dollars at the turn of this century. Most such residences are located in the northeastern part of the state, with median values assessed in the multiple millions, Isaac Toussie comments. The southwestern part lies within the greater metropolitan area of New York City. Indeed, three of Connecticut's eight counties form the Tri-State Region with New York and New Jersey. Despite the economic downturn in the rest of the nation, Connecticut real estate has not experienced too much turmoil. Though credit has tightened, inventory remains steady.
Statewide inventory of condominiums in Connecticut have stayed at consistent levels regardless of the economic downturn of late, which is a good omen that bodes well for the whole real estate market there. Thanks to government action that's maintained credit lines, there is actually some good news for those savvy enough to "connect the dots."
Mortgage interest rates have dropped steeply and there is a tax credit stimulus package for first-time home-buyers with $7,500.00 available. Finally, people have got to live somewhere, so any decline in the condominium market can only be temporary. This is a market with a lot of upside, Isaac Toussie believes.
The ideas in this article have been presented strictly for informational and human interest purposes only, not for advisory purposes, and should not be depended on in any way by any person or institution. The reader should not rely on the veracity of any of the content provided herein. The reader is urged to seek a variety of professionals when making business or any other significant decision, including accountants, lawyers, investment advisors, insurance companies and the like. Again, this article has been posted merely for human interest and informational purposes, not for advisory purposes. - 31387
About the Author:
This article was submitted by Isaac Toussie to provide some helpful information on real estate. Keep an eye out for more Isaac Toussie articles to come!
