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

Luxury homes in the southwest Florida area are definitely feeling the pinch and the sellers are looking for prospective buyers.  If you are considering a new home in the Naples area in the $1 million or higher price range now would be the time to consider your move.  Jumbo loans are still at low interest rates and sellers want to sell so their prices are more flexible.  We have many gorgeous homes in our area with price tags in excess of $1 million.  If you have considered this type of purchase, please contact me.  We can discuss your needs and I can advise on areas of our beautiful paradise that will work for you.  With an extensive search of listings in your chosen area I am sure we can find the perfect dream home for you at a great price!  Call me today and let’s get started!

 

Courtesy of Keeping Current Matters 2019

Now’s the Time to Move-Up and Upgrade Your Current Home! | MyKCM

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.

Bottom Line

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

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