Luxury Real Estate
Luxury real estate in Colorado and the rest of the country has taken a bit of a hit this month. However the luxury market is pretty recession proof for the most part. The reason for this is that the luxury market is a totally different market. People that are part of the population that can buy a multi-million dollar are usually financially stable enough to purchase that priced home in any economic condition. Luxury home buyers are typically OK in any situation. It’s all relative right?
Depending on what market you talking about as far as the “luxury real estate market” depends on what price would be considered luxury. Even Colorado has pockets of home values and costs. Some parts of Colorado you can find a luxury home for sale for as low as $750,000. Other parts of Colorado that isn’t luxury value that is the average sale value. Some areas like Evergreen or Golden you need to be in the $1,500,000 range to be in the luxury market. Then if you look at other areas in the country the luxury real estate market is even more drastic of a comparison. Places in Ohio (that’s where I’m from) you can find a beautiful high end luxury home for under $500,000 and be living in style.
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Luxury Real Estate Agents
A luxury real estate agent not only needs to know the regular market they need to know the movement and temperature of the luxury real estate market. Luxury agent also needs to know how to price a luxury home. Luxury homes are difficult to price since there are really no comparable. If there are comparables they are few and far between. There just aren’t a lot $20,000,000 homes sold in any area. There just isn’t a super big market for that price point.
When you are choosing the best luxury real estate agent near you should search the internet like a buyer that would be looking for luxury homes for sale. Since almost 90% of buyers find their home on the internet, this rings true for luxury buyers as well. Especially since a large percentage of luxury home sales are with out of town buyers. Either the buyer is moving here from elsewhere or they are buying the home as a second or third home.
Luxury Buyer Agents
Luxury buyer agents need to know luxury real estate, pricing and what adds value to a luxury home. Having an intuitive and knowledgeable buyer’s agent is very important when purchasing a luxury home. You agent should not only do previews for you to help make better use of your time, they should help find the home that checks off all the things on your luxury home “wish list”. The agent will help you determine the value of the home prior to making an offer. They will negotiate the contract details with the seller. Luxury agents should also coridinate all your inspections and walk throughs. They will also work behind the scenes with the buyer’s lender (if there is one) to make the transaction go as smooth as possible.
Luxury Listing Agents
A luxury listing agent is kind of like a regular real estate agent that actually knows what they are doing. Sounds funny but there are so many real estate agents that have no idea what they are doing. A luxury listing agent needs to not only know about luxury real estate and how to price a luxury home but how to market that luxury home online. That is the key to the marketing a luxury home.
Since luxury buyers are usually all over the planet the only way to market a luxury listing to new buyers is the internet. Only the best luxury real estate agents can properly market a high end listing.
Luxury Mountain Homes
Luxury mountain homes are not only beautiful but practical. Recent events have shown us that the more populated areas are the first place you want to leave in the event of a national or global situation such as COVID 19/Corona Virus. There is more to many luxury homes than an open floor plan and mountain views. Of course that would be included in a luxury mountain home, there are special added extras to add value. There are plenty of homes that are already equipped as “doomsday bunkers” or “prepper homes”. Just by design many mountain luxury homes are already set up with water storage, generators, walk in vaults/safes and many other things to make up your “Doomsday Ranch”.
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Danny Skelly
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