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Luxury Market Heats Up as Affluent Buyers Seek ‘Forever Homes’

Appraisal Buzz

The bi-annual report reveals a resilient luxury real estate market in the first six months of 2024 that is slightly outpacing performance from the equivalent period in 2023. In a complementary survey of Coldwell Banker Global Luxury Property Specialists, nearly 70% of respondents expressed confidence in the health of the 2024 luxury market.

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Record Share of Million-Dollar Homes Makes Buying More Challenging

Appraisal Buzz

Even more expensive properties are seeing price increases: In Q2, the median sale price of luxury homes in the U.S. The post Record Share of Million-Dollar Homes Makes Buying More Challenging appeared first on Appraisal Buzz. reached a record $1.18 million, up 9% year-over-year.

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Agents in Illinois grapple with the state’s housing inventory shortage

Housing Wire

If a home is priced correctly, we are seeing multiple offers coming in within a few days, and all over asking (price) and some appraisal gap clauses.” In downtown Chicago, with the high rises, it’s a buyer’s market — maybe the biggest buyer’s market in history if it’s a luxury property. “In

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Benefits of Appraising Luxury Homes

Appraisal Hub

Do you own a luxury property in Toronto? Getting it appraised is one of the important things you need to do on a regular basis. A luxury home undoubtedly has special features that only a professional appraiser can identify and understand. That report should help you understand your Toronto home’s appraisal value.

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5 Contingencies You Should Never Remove When Buying a House

Realtor

Waiving it entirely is the equivalent of agreeing to buy a ticking time bomb, says Annie Kou , a Los Angeles–based brokerage owner and attorney at AK Luxury Properties. “By An appraisal waiver commits the buyer to pay the agreed-upon price, whether or not the mortgage lender agrees to lend the buyer the balance.

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How to Become a Luxury Real Estate Appraiser

McKissock

Are you interested in learning how to become a luxury real estate appraiser ? There are many reasons to consider specializing in this profitable appraisal niche. Here are helpful tips on how to become a luxury real estate appraiser. Here are helpful tips on how to become a luxury real estate appraiser.

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Drones for Real Estate Photography and Appraisals

D Fritz Appraisals

First used to highlight luxury properties with state-of-the art video listings on real estate websites, the use of aerial drone photography and videography for real estate transactions is now commonplace. Drones for Real Estate Photography and Appraisals – Four Key Benefits: Drones Can Capture a High Level of Detail.