Demand is Switching to Luxury
Although the rise in housing prices has caused many potential buyers to step back due to a lack of affordability, the country continues to experience a rise in demand for high end and luxury single-family homes.
This is because high income earners, upper middle class and beyond have not experienced a loss in income, are mostly working from home, have more disposable income because of limitations on entertainment and travel, need for more space at home, and want to take advantage of the low mortgage rates.
Higher income earners are looking to upgrade to bigger homes with more amenities and upgrades which is a seller or investors dream scenario. Amin Vali Real Estate Investment can guide you in the process of selling your luxury property or upgrading your investment property in order to sell it at the highest possible price.
The demand for single-family homes priced at 1 million dollars or higher has gone up 28% compared to this last year. Homes priced between $600,000 and 1 million have an increased demand of 26% compared to last year.
This is significant for a few reasons, however, the fact that homes priced at $200,000 or lower have seen a drop in demand by 13% over this same time period and that most homes across the country are within the $200,000 to $400,000 range is proof that we will see big shifts in the market over the new year.
If you want to buy or sell, or find a good investment opportunity, now is the time to get in touch with Amin Vali and come up with a plan for the new year or take action now while the market is in its current state.
Civil Engineer, MBA, Real Estate Agent
Amin Vali Real Estate Inc.
Persian Realtor,Persian Real Estate,
Cell phone: +1 (949)220-1000
Phone : +1(310)300-0011
Web : www.aminvali.com
E-mail : email@example.com
Realtor in Zutila Inc.