Upgrade Your Current Home

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Upgrade Your Current Home! Now is the Time to Move-Up

Thinking it may be time to upgrade your 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 Luxury Report this mismatch in demand and inventory of luxury and premium homes has created a Buyers Market. For the purpose of the report, a luxury home was defined as one that costs $1 million or more.

A Buyers 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! So what are you waiting for? Upgrade Your Home

 

 

 

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. This website does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. This website will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

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About The Author
Billy Bassett

Bill is a NYS Licensed Associate Broker with One Realty Partners, LLC he is a full time agent. In 2019 he is 1 of only 5 finalists (out of over 400 agents) for the Utica OD Best of the Best category of Best Real Estate Agent! He is currently the Vice President of the local YPN (Young Professionals Network). Prior to real estate Bill worked as the General Manager of a successful movie theater, where he has built years of experience in customer service, management, finances, and several other skills that are essential in the real estate industry. His main goal is customer satisfaction and is determined to find his buyers their perfect home, and finding the perfect buyers for his home listings. Bill was born and raised right here in the Mohawk Valley. Bill is a member of the local Board of Realtors, where he is on the Strategic Planning Committee. Bill can show, and sell any home in the area regardless of it's listing office. This gives clients the opportunity to solely work with just 1 Realtor, which gives you a personal experience in your quest to find the perfect home. After many successful years at the areas top brokerage, Bill formed FLASH Realty Partners. Later Bill jumped at the opportunity to merge his company with One Realty Partners forming a true power house in the local real estate community.

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