Selling High-End Victoria, BC, Real Estate - Forget the Movies, Think Investment
Heated floors, backyard putting greens, tennis courts, golden fixtures in the bathroom, and all the goodies of the ultra-lavish lifestyle seen on MTV Cribs-these are the features that distinguish luxury homes. The majority of luxury homes sold, however, whether they're houses for sale in Victoria, BC, or anywhere else, generally don't conform to this picture. According to Jim Gillespie, President and CEO of Coldwell Banker Real Estate Corp., "In reality, the million-dollar homeowner lifestyle is not what you see in the movies."
A study conducted by Coldwell Banker Previews International produced some interesting findings. First, the majority of people living in luxury homes are younger baby boomers who typically work for corporations and have household incomes between $200,000 and $500,000. They also don't have the goodies mentioned above. Only 5% had a personal assistant, 4% a live-in housekeeper, and just 1% a driver.
Further, 70% of the respondents owned or were considering purchasing a second home. The most common reason seems to be investment. These homes are enjoyable investments that provide tax benefits and safety that stocks don't. Some common features in the homes of those surveyed were designer kitchens, original artwork, and wine cellars-all of which can be seen as additional investments.
Of the second homes, more than half were in areas that could be considered recreation locations, 32% in oceanfront locations such as can be had with a lot of higher-end Victoria, BC, real estate. Additionally, a good percentage of these baby boomers don't plan to retire to their second home until they are older. This isn't the picture of luxury-home owners we typically get from TV and movies.
Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada avers, "Recovery in the upper end has been nothing short of remarkable," especially in the Greater Vancouver and Victoria markets. Economic performance and growing consumer confidence have contributed to this phenomenon. A lot of it, though, has to do with investors looking for the safety of tangible real estate and wanting to avoid the volatility of stocks seen in 2008. But it still takes some savvy marketing and a good Victoria, BC, realtor to close the sale.
A realtor who knows the Victoria, BC, real estate market and the concerns of buyers looking for a luxury home as an investment can be an invaluable asset. A good realtor can do the following:
- Offer guidance throughout the whole process
- Provide a comparative market analysis (CMA) to determine the best price
- Work up an effective and practicable marketing plan
- Make sure you get exposure to the maximum number of qualified buyers
- Assist in preparing an enforceable contract
Victoria, BC, realtor Mark Imhoff, of the Imhoff Group, offers these very services to give you the selling edge you need in Victoria's healthy high-end market. Imhoff offers traditional marketing, advanced online marketing techniques, and pricing assistance and tries to be not just a realtor, but a business partner as well: "Remember, I will be working for you every step of the way to make sure you get the highest possible price for your home in the shortest period of time."
So, contrary to what's portrayed on TV and in the movies, most prospective luxury-home buyers are looking for a high-end home that is also a sound investment. And a knowledgeable Victoria, BC, realtor can help you market to just that kind of buyer.
Dive in and see what the city has to offer you! Contact Imhoff Victoria an expert in the Victoria BC realtor market who can guide you through the diversity of Victoria BC and the homes that match your needs and lifestyle.