If your house no longer fits your needs and you are planning on buying a luxury home, now is a great time to do so! Recently, the Institute for Luxury Home Marketing released its Luxury Market Report which showed that in today’s premium home market, buyers are in control.
The inventory of homes for sale in the luxury market far exceeds the number of people searching to purchase these properties in many areas of the country. This means that homes are often staying on the market longer or can be found at a discount.
Those who have a starter or trade-up home to sell will find buyers competing, and often entering bidding wars, to be able to call their house their new home.
The sale of your starter or trade-up house will help you come up with a larger down payment for your new luxury home. Even a 5% down payment on a million-dollar home is $50,000.
But not all who are buying luxury properties have a home to sell first.
A recent Bloomberg article gave some insight into what many millennials are choosing to do:
The best time to sell anything is when demand is high, and supply is low. If you are currently in a starter or trade-up house that no longer fits your needs and you are looking to step into a luxury home, now’s the time to list your house for sale and make your dreams come true.
Did you know what we are Global Luxury Property Specialists? Contact us today – we have local market expertise and global connections.
Category: Previews International® Luxury
As one of the luxury real estate leaders for 80 years, the Coldwell Banker Previews International® program continues to leverage sophisticated real estate marketing tools and international connections that attract the most qualified luxury home buyers to your home. Enlist a Previews® Specialist, just as ourselves, to show you how our heritage and expertise can make a difference in your next sale or acquisition of a luxury home.
The Judy Glockler Group is a Previews Property Specialist, having received the Luxury Real Estate designation.
The Previews® program has a track record of being selected to represent some of the world’s most exquisite properties. In 2013, Coldwell Banker Previews International® Property Specialists sold four of the top six most expensive properties in the U.S. according to Forbes*: Casa Casuarina in Miami, FL and Le-Palaise – The Crescent Palace in Beverly Hills, CA.
The Coldwell Banker Previews International® program has been marketing luxury homes since 1933. This luxury home marketing program has been exclusive to Coldwell Banker affiliates since 1980.
“2012 was a milestone year for the luxury real estate market with a surge in both buyer interest and several major record-setting sales. Coldwell Banker Previews International® has remained at the center of much of this activity. From historic sales to the volume of luxury sales we handle everyday, our numbers show the depth of our leadership in the affluent space.”
Previews agents participated in more than 16,400 transaction sides of homes priced at $1 million or more in 2012.