Luxury Real Estate / 26 posts found

How Coronavirus is Impacting Luxury Real Estate

by paulmcdonald
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Reposted from Forbes | Dima Williams, Contributor | March 19, 2020 In the final quarter of 2019, luxury real estate in the U.S. rallied both in sale volume and price. The segment posted double-digit sales growth year-over-year for the first time in 2019. The entry price rose by 2.1% to $1.27 million, according to the realtor.com’s latest luxury report.   “The stock market was very strong in the last quarter and we also saw mortgage rates that were lower than they had been a year prior,” says realtor.com chief economist Danielle Hale. “That really helps the luxury segment show a lot of strength.”  The new year looked promising. Then, coronavirus gripped the…

Investing in Luxury Real Estate

by paulmcdonald
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Reposted from Investopedia | By AMY FONTINELLE | Updated Sep 13, 2020 Real estate has long been considered a safe investment, whether you own, flip, or rent. If you have the money, you may want to expand your portfolio into the luxury real estate market. Before you jump in, here are some of your options for investing in luxury real estate. Luxury real estate prices were hot and had been soaring. Case in point: The most expensive residential real estate sale of 2019 was a Manhattan penthouse that sold for $240 million, according to data from Miller Samuel Inc. That’s almost $166 million more […]

The Luxury Market is Bouncing Back

by paulmcdonald
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Repost from housingwire.com | By Julia Falcon | June 25, 2020 Chief economist says the luxury market is leading the recovery With home price growth outpacing the overall housing market, it appears that luxury homes are bouncing back as homebuyers returned to the market in full force in May. According to realtor.com’s Luxury Housing Report released on Thursday, the luxury market actually outpaced the rest of the housing market in both price growth and views. Luxury home sellers re-entered the market with new listings for homes priced above $1 million, down just 15.1% year over year in May, compared to 57.8% in April. This means […]

U.S. Luxury Housing Market Saw Prices And Demand Grow In May

by paulmcdonald
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Reposted from Forbes | Dima Williams, Contributor | June 25, 2020 Similar to the wider U.S. housing market, which is bouncing back from the early, dampening effects of the coronavirus pandemic, the luxury segment recorded a promising uptick in entry prices, demand and inventory, according to a report by listing website Realtor.com.  Defined as the top 5% of homes listed, the upscale housing sector saw the listing price entry point across the nation grow 6.1% year-over-year to $2.97 million. As more luxury residences hit the market in May compared to April, their higher prices led the overall housing market’s median […]

Los Angeles’s Luxury Real Estate Market Might Be Covid-19 Proof

by paulmcdonald
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Reposted from Bloomberg | By James Tarmy | July 24, 2020 In late June, Lillian Lim, an independent developer whose company Sea Society LLC buys and renovates homes, listed a 2,400-square-foot craftsman-style home a short walk from the Larchmont Village neighborhood of Los Angeles. She’d bought it for $1.5 million in 2019 and done extensive renovations; within a week of listing it for $2.495 million, she had a firm offer. Soon after, a second, all-cash offer above ask came through, and now the house is in escrow. “I was nervous, but by the time it was ready to hit the market, there […]

Gauging the Luxury Market

by paulmcdonald
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Gauging the Outlook for the Luxury Housing Market Reposted from The Washington Post | by Troy McMullen | May 7, 2020 When it launched condominium sales in February, the Towers of the Waldorf Astoria in Manhattan was already girding for market headwinds. After years of excess, home sales on the island were slipping, declining in eight of the past nine quarters, according to housing data from Miller Samuel Real Estate Appraisers & Consultants. Amid a glut of new luxury towers and a shrinking foreign-buyer pool, sales in the fourth quarter of 2019 reached its lowest level in the past decade. Developers of […]

Selling in Los Angeles

It’s Time to Sell Your Los Angeles Home While it may seem like there’s never really a bad time to sell in Los Angeles, there’s a better time to sell than others. Right now, it’s a great time to sell. The Los Angeles real state market is very hot and selling now could mean cashing in, especially for luxury sellers. Currently, the housing inventory is low and there’s plenty of demand for homes in LA. This creates the perfect mixture for multiple offers and higher selling prices. In fact, the median sales price in Los Angeles last year was $570K, […]

California: The Hottest Market of 2017

by paulmcdonald
The Hottest Real Estate Market for 2017: California With home sale prices rising all across the nation, it’s interesting to look back and see which state dominated in 2017. California was the state with the most cities on the list of the hottest real estate markets. This was based on the highest selling price, highest percentage increase for sales price from 2016 to 2017 and many other factors. Out of the top 20 spots on the list of 100 hottest real estate markets, 10 were found in California. Here’s a look at the hottest real estate markets from last year. […]

Luxury Homes: Finding the Right Agent

Top 3 Things to Look for in a Luxury Real Estate Agent When it’s time to sell a luxury home, you need the right agent. Not just any real estate agent will do. The luxury real estate market is a different animal and you need the right agent to help you tame that animal. If you’re looking for the right luxury agent for your needs, you’ve come to the right place. Here are three things to look for in a luxury real estate agent. Incredible Marketing Luxury homes require great marketing to sell for top dollar. When you start searching […]

Selling: An Essential List

An Essential List of Things to Do to Sell Your Home You’ve decided it’s time to sell, so what do you do next? Having a list of essentials to get done before listing your home for sale is vital. Here’s our list of essentials to help you get your home sold fast. Find a Great Real Estate Agent Deciding you don’t want to hire a professional agent to help you sell your home is a bit like trying to re-roof your own home. While you may be able to handle the task, you shouldn’t. Trying to sell your home on […]