Now’s the Time to Move-Up and Upgrade Your Current Home!
Homes priced at the top 25% of the price range for a particular area of the country are considered "premium homes." In today’s real estate market, there are deals to be had at the higher end! This is great news for homeowners wanting to upgrade from their current house.
Much of the demand for housing over the past couple of years has come from first-time buyers looking for their starter home. Many of the more expensive homes listed for sale have not seen as much interest.
According to ILHM’s Luxury Report, this mismatch in demand and inventory of luxury and premium homes has created a Buyer’s Market. For the purpose of the report, a luxury home was 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 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. To one person, luxury is a secluded home with plenty of property and privacy. To another, it could be a penthouse at the center of a bustling city. Knowing what characteristics mean luxury to you will help your agent find you the home of your dreams.
If you are debating upgrading your current house to a premium or luxury home, now is the time! Let's get together to discuss your situation and your real estate goals. Call/text today (984) 833-9233. As a token of my appreciation all readers get a complimentary online Instant Home Value Estimate.
Author:Diana Polovko Phone: 984-833-9233 Dated: July 10th 2019 Views: 23 About Diana: My clients are my #1 priority. With honesty, integrity and hard work as the key elements of my busin...
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Grow Local Realty is a full service Raleigh NC Real Estate Company servicing Raleigh, Durham, Cary, Apex, Holly Springs, Clayton, Fuquay Varina, Garner, Wake Forest, Chapel Hill and all other Triangle areas including all of Wake County, Johnston County, Durham County, Orange County, Chatham County and Harnett County. We are dedicated to extraordinary customer service and are here to represent you with your next home purchase or the sale of your current home. Allow one our fantastic agents to assist you with your Raleigh NC Real Estate search.
"My husband and I decided we wanted to buy our first home and we started looking online for homes and started calling a few realtors. Some of which were not very professional, and did not really go at the fast pace we were wanting. I found myself being uninformed, stressed, and with little homes available. That is until, thankfully, my husband and I met Kim, and the buying process changed completely. At first, Kim met with us to see a house at our convinent time, and she already had a few more houses ready for us to go see. This impressed me a lot since other realtors would only show what I requested. Kim is an upmost professional realtor. She went over lots of information we had no clue about, and she communicates at all times, and answers all questions at any time. She really had our family's best interest at heart. I know other realtors we talked with just wanted us to check THEIR website for available homes. Kim NEVER dropped the ball on us and always worked so hard doing above and beyond what we expected. She wanted us to really love our home. We had lots of bumps in the road regarding different aspects of our loan and Kim really helped fix all of those and really made the process go smoothly. If you are looking for a professional, hard working, agent, I would totally recommend Kim! She really goes the extra mile for her clients. "