The current economic malaise has hit Connecticut as well, but there is no danger of oversupply in the state; inventory levels have been consistent, probably because Connecticut housing has not been subjected to the amount of speculative investment that other places have experienced, such as Florida or Nevada. Connecticut maintains its generally pro-business policies and there is no danger of an exodus among commercial tenants, either. Surely it has also helped that media attention has been focused on other states, whereby 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 fallen substantially 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 comments.
The ideas of this article have been provided merely for informational and human interest purposes and no more, not for advisory purposes, and ought not to be depended on in any way by any person or institution. The reader should not rely on the accuracy of any of the opinions presented herein. The reader is advised to consult 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 strictly for human interest and informational purposes, not for advisory purposes. - 31366
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 fallen substantially 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 comments.
The ideas of this article have been provided merely for informational and human interest purposes and no more, not for advisory purposes, and ought not to be depended on in any way by any person or institution. The reader should not rely on the accuracy of any of the opinions presented herein. The reader is advised to consult 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 strictly for human interest and informational purposes, not for advisory purposes. - 31366
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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!
