“Solid investment” can still be found in America’s real estate market despite the current financial turmoil, property experts have said.

Bob Bronswick, president of Coldwell Banker Residential Brokerage, said sales were still good in the area even though confusion still surround the US mortgage system.

His comments came as Coldwell Banker, based in Sacramento, California, took on the sale of what has been billed as one of the most “incredible” properties in the history of the local property market.

Rancho Victoria in the Sierra Nevada, covering 830 acres, is up for grabs at $20 million.

Mr Bronswick said:

“In spite of the doubt and confusion surrounding the economy and the nation’s housing market, this year we are selling a lot of homes.

“In fact Coldwell Banker has sold more homes in 2008 than were sold in the last two years. Real estate remains a solid investment.”

Featured in the Luxury Home Magazine of Sacramento, Rancho Victoria comes with sprawling land and a home featuring ranch architecture and 360-degree views which include city lights and mountains.

Patricia Seide from Coldwell Baker, responsible for the property’s listing said:

“The possibilities for the right investor are truly endless.”

SV Development