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For Buyers Housing Market Updates Interest Rates Luxury Market Move-Up Buyers

The Luxury Market Is Attracting Buyers in 2021

The Luxury Market Is Attracting Buyers in 2021 | Simplifying The Market

As more people continue to identify their changing needs this year, some are turning to the upscale housing sector for more space or finer features. In their most recent Luxury Market Report, the Institute for Luxury Home Marketing (ILHM) shares:

“In a snapshot of 2020, despite the devasting effects of the coronavirus pandemic, the luxury real estate market has seen one of its strongest years since 2008. In comparison to experts’ predictions in early 2020, it is remarkable how significant demands for property type, location, and amenity preferences have changed amid the pandemic.”

With more opportunities to work from home and a growing interest in having extra space for things like virtual school, working out, and cooking more meals, the desire to own a home that can meet these needs continues to increase. Additionally, record-low mortgage rates are creating opportunities for homebuyers to stretch their legs into higher price points or even expand their real estate portfolios. The ILHM report continues to say:

Experts believe that the demand for exclusive residential properties outside the metropolitan areas will continue well into 2021; even with the introduction of vaccines, the pandemic is far from over.

For those who have moved to the suburbs and beyond, moving back to the city full time is unlikely while the work from home trend remains. Many of these affluent homeowners are now making their secondary properties their primary residences for the foreseeable future.”

If you’re interested in buying a home this year, it appears that some higher-priced markets may have more homes to choose from than those at lower price points. Javier Vivas, Director of Economic Research at realtor.com, notes:

“Interestingly, markets, where new supply is improving the fastest, tend to be higher priced than those that have yet to see improvement, suggesting sellers are more active in the more expensive markets.”

Bottom Line

If you’re hoping to buy the home of your dreams, this could be the year to achieve that goal. Let’s connect today to explore your possibilities.

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For Sellers Housing Market Updates Luxury Market

How Remote Work Can Power Your Vacation Home Sale

How Remote Work Can Power Your Vacation Home Sale | Simplifying The Market

This year, the opportunity to work remotely has increased the demand for vacation homes. Gay Cororaton, Senior Economist and Director of Housing and Commercial Research at the National Association of Realtors (NAR), notes:

“Working from home is a positive factor in demand for vacation homes.”

Buyers are taking advantage of the fact that working from home might be someplace other than their primary residence – at the beach, in the mountains, or somewhere in between. NAR explains:

Sales in vacation-home counties increased 48% on average year over year in the third quarter; overall, 81% of vacation-home counties saw a year-over-year sales increase.”

Is it Time to Sell Your Vacation Home?

If you’ve been thinking about selling your vacation home, putting it on the market now while demand is high might be your best move. Here are two reasons why.

1. Vacation Homes Are Selling Quickly

These homes are not staying in the market for very long. NAR also notes:

In September, 68% of vacation homes sold in less than a month. Historically, about 30% sell that quickly…It’s a pretty amazing uptick compared to past years.”

2. Home Prices Are Rising

With an increase in demand, prices go up. NAR continues:

“In the third quarter, prices in vacation-home counties rose by about 32% year over year. Seventy-nine percent of these counties experienced year-over-year price gains. NAR defines a vacation-home county as one in which seasonal housing accounts for at least 20% of stock.”

If your vacation home is sitting idle, maybe not attracting as many renters as you usually see, or if you simply want to sell it so you can trade up or take it off your worry list, now may be the time. Demand is high, so you’re in the ideal spot to get a stronger return on your investment today.

Bottom Line

Demand is on the rise, so let’s discuss your next steps when it comes to selling your vacation home.

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Down Payments For Buyers For Sellers Interest Rates Luxury Market Move-Up Buyers

Buyers Are Finding More Space in the Luxury Home Market

Buyers Are Finding More Space in the Luxury Home Market | Simplifying The Market

A year ago, additional space and extra amenities had a very different feel for homebuyers. Today, the health crisis has brought to light how valuable more square footage and carefully designed floorplans can be. Home offices, multi-purpose rooms, gyms, and theaters are becoming more popular, and some families are finding the space they need for these upgrades in the luxury market.

The Institute for Luxury Home Marketing (ILHM) explains:

“With quarantine concerns still top of mind for many luxury buyers, we see large, sprawling estates making their comeback.

For instance, the last six months have seen a resurgence in the buying of mega mansions and estate-size homes – specifically properties that offer space (both inside and outside), separate home offices, gyms, and private amenities such as swimming pools, yoga studios, and recreation rooms.”

This was not the case at this time last year, as the most recent Luxury Market Report from ILHM emphasizes:

“Exactly one year ago, we reported that demand for large properties, mega mansions, private estates, and luxury ranches had reduced significantly over the previous few years; especially from the younger generation of luxury property buyers.”

For today’s buyers looking for larger homes, steady increases in equity might be what makes a move possible. Leveraging home equity makes it easier to afford the down payment on a luxury home, and current low interest rates are making mortgage payments more affordable than they have been in years. The report from ILHM also notes:

“Luxury real estate prices may continue to strengthen further into the third quarter, as the affluent continue to see large investment returns from the currently strong stock market.

Coupled with the low interest rates, the policies granting (and insisting) on working from home implemented by many employers, and the concerns of the pandemic, all translate to the affluent increasingly trading in their city lifestyle for a home that has it all.”

Clearly, today’s strong gains in home equity paired with record-low interest rates make fall a great time to move up into the luxury market to meet those changing needs.

Bottom Line

If you’re ready to gain some breathing room in a larger home, let’s connect so you have the guidance you need to find more space in the luxury home market.

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Archive Blog Boston Buyer Featured For Agents For Sellers Larry Lawfer Luxury Luxury Market Marblehead Milton Newton Podcast Rent vs. Buy

Broker-Talk with Rene Ahmad REMAX Canada From Zero to Hero V1 E42

Broker-Talk with Rene Ahmad REMAX Canada; From Zero to Hero V1 E42. Mindset, skills and activity are the 3 key components for success in real estate. First is mindset requiring changing your scarcity mindset to an abundance mindset.  Activity build confidence, skills are honed with repetition. This 30 minute show gives you the outline and offers you some paths to choose. Learn about Mindset, Skills and Activities that are the building blocks.

Rene had a lot of pressure on him when we met in 2005-2006. He wasn’t waking in the morning before noon. The first step to his current success was built on the building blocks of confident action. Any small step that he took and in the beginning it was learning to wake an hour earlier in the day to where he was able to work in the mornings. 

Now he is up by 5AM and taking care of his mindset by exercising, journaling, being part of a mastermind group, reading and study. The steps to success are simple, it is the action where most people fall down. The beauty of Rene and the way he built his success is by tiny successes. He just wanted to be a little bit better than the day before at the beginning.

Today is another story. Rene has a team that completes 70 transactions a year and growing. He never goes to sleep now without having made something happen during the day. That determination was built from one day to the next until it began to feed on itself. All studies on successful people discuss similar paths they all feel are their own unique arcs, and they are. What works is by applying on a daily basis your right mindset, the proper skills and a whole lot of activity.  The way to success is getting more done and that starts with the little habits being build one block at a time.

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Archive Blog Boston Featured For Agents For Buyers For Sellers Larry Lawfer Luxury Luxury Market MA Milton Newton

The World has changed and other good news

Larry-Mask-Covid-2020

The World has changed and other good news. I’m no poly-anna and I don’t like to be lied to, so there is that. I think most people feel this same way. We take our time individually and alone (god knows we have the time) to sort out what a world and economic pandemic really is to us. It is everything and nothing. There is true reason to be terrified of an economic disaster or a viral pandemic, but both. C’mon! And yet I have seen evidence of growth and shared values. It is a health versus a non health issue first and an economic disaster second. We are sorting that out.

I have seen fathers in the yards playing with their kids. I see the look on the kids faces and see this is the time they remembered their Dad throwing them the ball in the yard. It is all perspective; I hate when I think like that. The individual sacrifices we are all making to get by pales in comparison to the people who are keeping our country alive.  In this grueling and dangerous work load we are seeing a common enemy and we are coming together to find the answer.

I do think that will be remembered.  The assumption is we all survive, and looking at the statistics not all of us will survive.  What will be your legacy, the last words? I am not asking for hands here because I know you are not here. 

broker-talk.com home page

Single Family New Listings: 2 Median Liv. Area SqFt: 3555.5 Median List $: $1,689,000 Median List $/SqFt: $481 Median DOM: 1.5

Single Family Active Listings: 18 Median Liv. Area SqFt: 4,491 Median List $: $2,018,500 Median List $/SqFt: $450 Median DOM: 56

Broker-Talk.com

Single Family Under Agreement Listings: 12 Median Liv. Area SqFt: 2,910 Median List $: $1,579,500 Median List $/SqFt: $535 Median DOM: 18.5 Median DTO: 7

Single Family Sold Listings: 9 Median Liv. Area SqFt: 2,825 Median List $: $1,250,000 Median List $/SqFt: $436 Median DOM: 19 Median DTO: Median Sale $: $1,235,000 Median Sale $/SqFt: $427

Single Family Temporarily Withdrawn Listings: 10 Median Liv. Area SqFt: 4,689 Median List $: $1,983,500 Median List $/SqFt: $441 Median DOM: 38.5

Single Family Canceled Listings: 4 Median Liv. Area SqFt: 5,218 Median List $: $2,207,388 Median List $/SqFt: $461 Median DOM: 167.5

The Market in Newton statistics are from MLSPIN the local MLS. There is lots to sort out here. The legal is being worked out and properties are closing and being inspected and appraised, just in different ways. The banks and the underwriters are turning up the screws a bit more. The World has changed and other good news

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Archive Blog Buyer Featured For Agents For Buyers Investor Larry Lawfer Luxury Luxury Market MA Newton

Architecture Place Space and Materials Yefim Massarsky V1-E41 PODCAST

Architecture Place Space and Materials Yefim Massarsky V1-E41. Russian trained and award winning architect joins the podcast today to discuss his methods and influences over the years. Place, Space, Materials and Design all drive the ultimate lines put down on paper well before the ground is broken. The process is complete before the first nail is pounded. Take some time to understand how luxury design sits on top of years of study and reflection. Newton Luxury home for sale and the architect who is all in. Yefim Massarsky

Yefim Massarsky received his architectural education in Leningrad (St. Petersburg), Russia, one of the most beautiful cities in the world. At the relatively young age of 28, he produced several interesting design works, and was accepted into the very prestigious Union of Architects.

Architecture is an ancient art. It is a form as well as materials, all of this is combined in ways classical and new. Architects arrive at their profession from varying places. There are the engineer types who love to build, put things together and make sure all the math and lines work.  There are the art types that start with the land and place and then imagine what would fit best into that space. Yefim straddles both these worlds.

He is influenced by all those who went before and often looks to Frank Lloyd Wright for the way a building fits into the landscape. He looks to Andrea Palladio, a Renaissance architect for how windows allow light to enter the home. In Newton on Radcliff Rd Yefim has a project for sale right now. He uses this window as one form but that is not all. Light and space move freely throughout this luxury home. 37 Radcliff is both a luxury home and a business opportunity for someone with imagination. MLS #72633654 is provided by Jim Lowenstern. Architecture Place Space and Materials Yefim Massarsky V1-E41 PODCAST