Ocala, FL (PressExposure) August 18, 2009 -- /1888PressRelease/ People are starting to buy luxury items again, and the tentative return of confidence, coupled with the return of foreign buyers for luxury homes and yacht sales, has agents grinning from ear to ear.Once-empty open houses and yachts are drawing steady streams of prospective buyers.
Sales of million-dollar homes in Marion County were up in May for the fourth straight month and properties sold at the fastest pace since last summer, according to a new report by Coldwell Banker Residential Brokerage. A total of 42 luxury properties changed hands in May, up from 37 in April and the highest level since last October, when 59 million-dollar homes sold in the county. Homes also sold in an average of just 82 days, the fastest rate since last July.
Recent incentives for first-time home buyers are starting to make a dent in the excess inventory; however, much more needs to be done to stimulate the housing market. According to Orlando Custom Home Builder Brannon Construction owner Michael Brannon, "The lower nd of the housing market continues to be the hottest segment in many areas, but gradually we're seeing some signs of improvement in the upper end as well."
Recession has shaken nearly every corner of the U.S. economy but Summit Yachts is still selling luxury boats, thanks in part to a sagging U.S. dollar.
While Summit, a leading yacht broker in eastern FL weathers the global recession, other global yacht-brokers struggled. The yachts ooze indulgence, with interiors laden with fine craftsmanship, marble flooring, wine cellars, high-end home theaters and onboard recreation vehicles. Prices range from $1 million to $10 million.
A weak U.S. dollar has also helped keep Summit prospering by making yachts more affordable to wealthy overseas clients. Of the last seven yachts Summit sold, three went to overseas buyers.
Use of promotional products as a means of advertising is not a new way of doing business; however, because advertising budgets have been reduced, promotional products such as car magnets or custom vinyl stickers have been pivotal tools to draw new business, taking over where magazine, TV and newspaper ads have dropped off. So the next time you drive down the road or walk toward your car in a public parking area and see ad promotional sign, just take note that the economy appears to be making a turn for the better.