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Article: High-end sales bright spot in home market. (home real estate market reflects sales activity in multi-family and luxury apartments)
- Article from:
- Real Estate Weekly
- Article date:
- November 11, 1992
- Author:
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Copyright informationCOPYRIGHT 1992 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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"Firming up" and "bottoming, out" are key phrases residential experts are using to describe the marketplace.
While they admit some sellers who purchased in the late and booming 80's are losing both their shirts and buildings to the high prices and high interest rates, new buyers are plentiful for correctly priced multi-family apartment houses as well as large luxury apartments in solid neighborhoods.
Confidence has not returned, however, to the smaller and less pricey side of the co-op market with one broker citing the need for a middle-class advocate and incentives to give families a reason to remain in the city.
Appraiser Alan J. Greenstein, R.M., S.R. A., vice ...
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