Location … location … location!
While $8 million may note even qualify a buyer to bid on a Manhattan penthouse or a Malibu estate, it is enough to own 1,000-acre farm and a mansion in Vermont.
The luxury real estate market in Vermont is picking up, according to the real estate community, reports Seven Days.
Prices in Stowe, Vermont, which is among the top locations for posh properties statewide, are back to the same level as observed in 2006, according to a report from the Smith Macdonald Real Estate Group.
The recession was a reality check for some in the market, particularly homeowners looking to unload their expensive properties. Smith and Macdonald noted that it took some sellers a few years to realize that their property investments might not translate into the asking prices they had envisioned.