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Is now the right time to start selling luxury real estate?

07/13/2017

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Americans today are feeling increasingly confident in the health of the economy. There is a consistent upswing in jobs, which are at a record high, and unemployment is down to a low rate. The positive upswing has also reached the housing market, which it’s safe to say, has skyrocketed back from the 2008 recession. Not only is consumer confidence back, but consumers are also hunting for new homes in droves. But with a current inventory shortage, and a highly competitive market, more and more homebuyers are opting for the luxury market — and not simply as a large investment opportunity; these buyers are settling into the homes as a long-term play and planting roots. We’re not talking “luxury” in the sense of a single-family home that’s been grossly affected by the supply-and-demand effect: in Seattle, the median value of a single-family home was reported at $700,000 in March, up from $357,000 five short years ago. We’re talking legitimate luxury homes, which cos…

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