Western Resort Towns, Boston, New York, and Denver continue strong in the Luxury market segment

Sales of luxury homes continue to outperform the rest of the market in many key locations, according to David Leonhardt from The New York Times.

Several causes seem to be in evidence including the fact that higher income buyers continue to experience strong income gains and a rising stock market, and foreign investors have more buying power with the continued decline of the dollar against other global currencies. Additionally, the increasing interest rates affect lower and middle income families on a larger scale, while many upscale buyers rely more on cash.

Cities including Boston, New York City, San Jose, Calif., Seattle Denver, and Houston have posted year to date luxury numbers comparable to 2005, a boom year. Other key markets appear to be trending in that direction as well.

Numbers in the second home resort market continue to rise as well, with record appreciation increases and record sales in places like Breckenridge, Colorado, Aspen, Vail, Telluride, and Park City, Utah.

All of these are continued reasons to engage a local Realtor© to track the specifics of the market you are considering. With up to date information and a Realtor to guide you through the history of the market, you will maximize your long term investment potential.

Summit County Investment trends echo trends of the US Luxury Market.

The Wall Street Journal reports that popular luxury homes these days include lots of specialized spaces for their owners. Rooms like wine cellars, craft rooms, media or home theatre rooms, separate double baths for master suites, and walk in pantries are among the amenities noted in many high-end homes. Many of the newer homes often have a sunroom or family room instead of a formal dining room as well.

These trends seem to be echoed in many of our luxury category of mountain homes. More of the newer upscale homes have wine cellars, elaborate theatres with graduated seating, open dining areas which create a warm gathering atmosphere, and plenty of “escape spaces” so that family members have space for privacy during their mountain playtime.

Another current trend is the escalation of investment into “cocktail ranches” where the acreage and peaceful surroundings provide time away from the hustle and bustle of the mainstream tourist visitors. These ranches provide a great entry into the mountain community without the upkeep or hassle of a full-blown working ranch.

With all indicators showing today’s busy entrepreneurs and executives savoring their downtime, these trends show no sign of slowing. Call us today to find the right property to fit your busy lifestyle and invest in your piece of paradise. Don’t forget that, with our network of professional affiliates, we can assist you in investing in real estate all over the globe.

A brief update on market conditions in Summit County Colorado ski  & investment properties

Well, 2007 is shaping up to be an amazing market for top end luxury properties in Summit County, Colorado! In the $2.5 million and up category, there were only nine properties sold in 2005, while in 2006 only four sold. This year sales are already at three and selling season is just starting. Prices are also reaching $550-600 per square foot in some cases, which is breaking all records.

In addition, days on market numbers are going down too. Since good land is getting scarce, buyers are realizing that some of the new homes and resales are a great option. It is still critical that the home is priced properly and a good lot and floor plan are essential. That said, those homes that meet these criteria are selling through.

The local Summit County market has rarely seen any fall off through the last fifteen or twenty years. It tends to run with the stock market, so when the market is strong, so is the real estate market. Don’t be misled by naysayers who talk about the soft market conditions in other parts of the country! Our market is booming. Come talk to us about investing in your Colorado dream house.