Ari Koufos
REALTY EXECUTIVES | 617-799-8948 | ari@arikoufos.com


Posted by Ari Koufos on 10/6/2020

Photo by Pixabay from Pexels

Sellers of luxury properties have more concerns about selling than sellers of properties that are not considered luxury homes. Because of the amount of money involved in the transaction, selling a luxury home has additional hurdles. Our real estate agents help you get over some of these hurdles.

My House is Unique — How Will You Price It?

When a home is so unique that there is nothing like it in the neighborhood, we, as real estate agents, have to do a little more work to recommend a selling price. We start out with comparables, just like with any other house. Then, the agent must know the value of other amenities in the home and on the property and adjust the price accordingly. Additionally, the agent must know and understand what is in the current inventory of available luxury homes. We then create a buyer profile that leads to a fair evaluation of your home.

How Long Will It Take to Sell My House?

This question is easier to answer when someone is selling a house that is not a luxury home. Because of the cost of a luxury home, buyers are limited, which means that it might take longer to sell a house. However, we have a list of luxury buyers looking for a specific property. In addition to listing your home the traditional way on the MLS, we also target our list of luxury buyers. Because a luxury home is in a category all its own, it doesn’t necessarily follow the market. Sometimes luxury homes sell quickly in a buyer’s market, and sometimes you need a seller’s market.

I Need an Exceptional Buyer for My Exceptional House: How Do You Find the Right Buyer?

Luxury properties need just the right buyer. Real estate agents that specialize in luxury homes have a list of contacts including previous buyers, firms, brokerages, professionals and current buyers looking for luxury homes. As soon as your house becomes available, we send the listing out to this list. We are always adding to our list of luxury buyers, so we continually send out the listing as our list of luxury buyers is updated.

Should I Wait Until the Market is a Seller’s Market to Sell My House?

Not necessarily. Luxury buyers do not always follow the market because the number of luxury homes is always lower than the number of non-luxury homes available. If you have a luxury ranch home on 20,000 acres, the market might be a buyer’s market because it’s flooded with inventory, but you might have one of a few large ranches available. If several people are looking for a ranch of this size, your home could sell quickly. Our luxury home listing agents look for the unique in your home and use it to market your home.




Categories: Selling  


Posted by Ari Koufos on 9/22/2020

Image by skeeze from Pixabay

When looking for a luxury home, you can look for the most expensive neighborhood in the United States, or you can choose a luxury neighborhood in the part of the country you want to live in. Before you move to a different state, be sure you'll like the part of the country you choose.

Luxury Home Price Variances

Depending on where you choose to live, the cost of luxury varies — and it varies widely. You’ll find luxurious neighborhoods in Rapid City, South Dakota for a median price of $242,200. The most expensive luxury neighborhood is in zip code 94027 — Atherton, California. This luxury neighborhood has a median home price of $7,313,400.

Other luxury neighborhoods include:

  • 96821 — Honolulu, Hawaii, with a median price of $1,370,900;

  • 85253 — Paradise Valley, Arizona, with a median price of $1,588,200;

  • 60610 — Chicago, Illinois, with a median price of $1,885,900;

  • 06830 — Greenwich, Connecticut, with a median price of $2,056,900;

  • 33921 — Palm Beach, Florida, with a median price of $4,394,000; and

  • 81611 — Aspen, Colorado, with a median price of $4,869,200.

  • You can live in a luxury neighborhood for less money if you choose a state with a lower luxury median price. You’ll find that the cost of living is also less in those states. However, make sure the area you choose has the amenities you want. If you are expecting to have theme parks, upscale shopping and other amenities, you might want to choose a larger city, even though the median luxury price is much higher.

    What to Look For in a Luxury Home

    In some cases, luxury costs under $300,000 – and in other cases, it’s not luxury until you hit several million dollars. Regardless of the median luxury home price, always check what prices homes sold for in the neighborhood and the quality of the materials used to build the home. Other items to check include:

  • Are the appliances upgraded?

  • Did the builder use high-quality fixtures, including faucets and toilets?

  • Are the cabinets real wood?

  • Is the flooring top quality tile, wood or some other covering?

  • Is the carpet high-quality or “builder’s quality?”

  • What kind of windows are in the house? Are they at least double-pane windows?

  • Is the trim in the house made of real wood, stone or some other quality material?

  • Is the yard well-maintained?

  • Does the house have large bedrooms and closets?

  • Does the house have extras, such as a pantry, bonus rooms or a pool?

  • When you check for comparables, don’t forget to allow for those extras. The home you are looking at might not have the same amenities as another home in the neighborhood that is going for the same price. This leaves things open for negotiations if not having something, such as a pool, is not a deal-breaker.




    Tags: neighborhood   luxury   Buyers  
    Categories: Properties  


    Posted by Ari Koufos on 3/10/2020

    Image by Free-Photos from Pixabay

    If you are ready to move into a luxury home. You'll find options in most locations in any state you desire. Before you choose, especially if you plan on moving to another state, you should first tackle some other questions.

    Work

    Do you need to keep working to enjoy the lifestyle you have now? If you do, can you find work that will provide you with a similar income? If you own a business, how hard will it be to get that business going in another state? If your business is conducted online only, that is one less thing you will have to worry about — but you do have to find out how businesses are treated in the state you choose to move to. It is not beneficial to run a business in some states because of the extra taxes and regulations that some states have.

    Urban, Suburban or Rural

    It’s no secret that you can get more house for the money in certain states, and, breaking it down further, more house for the money in certain areas of the state. For example, to get a luxury home with at least five bedrooms near or in a large city, you’re going to have to shell out much more than you would if you picked the same house 100 miles away from the city, as long as the location is not near another large city or a tourist area.

    Are you looking for something that doesn’t take a ton of maintenance? You might prefer a luxury home in the city with a small yard. If you like the idea of spreading out, having a large pool, hot tubs, stables, riding trails, ATV trails and other amenities on your property, you’ll have better luck finding that in a rural area.

    Commuting and Schools

    If you have school-age children, check the rating of the schools. Just because you live in a luxury neighborhood doesn’t mean that the schools for that neighborhood have a good rating. Additionally, you might have to take your children to school if you live too far out for the school bus. And, on the subject of commuting, if you have to work to maintain your lifestyle, you’ll have to commute if you choose a rural luxury home. How long is the commute? Is it something that you can manage or will that commute take too much time away from your family?

    Nightlife and Attractions

    If you like to go out a lot, living an hour out of town might not be for you, as much as you like a property. If you have to be in the thick of things, you might prefer a luxury neighborhood in an urban or suburban setting. If you want peace and quiet, and prefer connecting with nature, then you might choose a rural luxury home, such as a large ranch or a home with large acreage.




    Tags: buyer tips   luxury   location  
    Categories: buying