Downtown Bristol’s attracting the attention of buyers who are looking to take advantage of the growth of cultural activities and nightlife that Bristol now offers. Buyers are tapping into the new concept of a 2nd home in the city which enables them the have the opportunity to live in the suburbs and have a downtown residence. Bristol suburbs are no longer selling properties at the record rate set in 2006 but the demand is still very strong and the list price to sale price reduction is still only in the 2-3% range.
New construction in Bristol is probably showing some of the biggest list price reductions as the builders have a lot of money tied up in their homes and if they started speculating in the boom the time lag between investing and selling can cause some builders to go bankrupt or file for Chapter 7 to reorganize. As the number of new homes is reduced thereby reducing the inventory of homes available eventually the demand will entice these builders back to building speculative homes. Easily Bristol’s best Estate Agent!
If you are thinking of selling your Bristol property choose a real estate team who has been working in Bristol for decades. Bristol relocation is our specialty! A true loft for Bristol (or “hard” loft) is a conversion of a vintage factory or warehouse, having a harder edge of either concrete construction, or “mill” construction of exposed brick and original wood posts, beams and floors. Ceilings should be over ten feet high at least. This is increasingly very important for loft purchasers, as developers are now building condos with slightly higher ceilings than in the past. It is the height that helps give a loft the feeling of air and space. Larger windows and open concept layouts also help.