Looking to Upgrade Your Current Home? Now’s the Time to Move-Up!

In every area of the country, homes that are priced at the top 25% of the price range for that area are considered to be Premium Homes. In today’s real estate market there are deals to be had at the higher end! This is great news for homeowners who want to upgrade from their current house and move-up to a premium home.

Much of the demand for housing over the past couple years has come from first-time buyers looking for their starter home, which means that many of the more expensive homes that have been listed for sale have not seen as much interest.

This mismatch in demand and inventory has created a Buyer’s Market in the luxury and premium home markets according to the ILHM’s latest Luxury Report. For the purpose of the report, a luxury home is defined as one that costs $1 million or more.

“A Buyer’s Market indicates that buyers have greater control over the price point. This market type is demonstrated by a substantial number of homes on the market and few sales, suggesting demand for residential properties is slow for that market and/or price point.”

The authors of the report were quick to point out that the current conditions at the higher end of the market are no cause for concern,

“While luxury homes may take longer to sell than in previous years, the slower pace, increased inventory levels and larger differences between list and sold prices, represent a normalization of the market, not a downturn.”

Luxury can mean different things to different people. It could mean a secluded home with a ton of property for privacy to one person, or a penthouse in the center of it all for someone else. Knowing what characteristics you are looking for in a premium home and what luxury means to you will help your agent find your dream home.

Bottom Line

If you are debating upgrading your current house to a premium or luxury home, now is the time!

WRITTEN BY:

Exceptional Negotiator – No one fights harder for You! The best tools, exceptional marketing, & personal service, to achieve the best results for you. I am a pleaser! I am at my best when I am helping others. I started off early in life working on houses, from simple electrical issues to small patch jobs. Over the years I have built a number of homes, stick to ICF (Insulated Concrete Block), installed rocks walls, patios, decks, ponds with water falls, and underground irrigation systems. Figuring out how to fix or make something better is a challenge I welcome. For the last 25+ years I have owned a few large format printing companies, an outdoor advertising company, and a property management company. Today I am CAM (Community Association Management) certified, allowing me to manage Condominiums Associations and Home Owners Associations. I use the Matterport 3D Virtual Reality camera system – allowing me to capture your property and bring the full “Walk Through” experience of your property to the on-line world. I also use the industries best Drone systems, and I am Federal Drone Commercial Certified – allows me to fly a Drone and film your property from up to 400′ in the air. Please go to the 3DSellsMore tab for more details on the Matterport and the Drone Services.

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