Does your subject property really front on the water? You might remember a case that made national news some time back involving a six-foot-high pink stockade fence erected between several houses and a small lake (actually just a large retention pond). Purchasers of the…
Amid the COVID-19 pandemic, luxury homebuyers’ priorities have shifted from seeking out new experiences and adventures toward finding homes in markets that offer safety, more space, and well-being. Whether you’re looking to specialize in luxury appraisals or you’re simply reading up on the latest…
If you’re a real estate appraiser looking for an exciting new challenge, luxury home appraisal is a desirable niche to consider breaking into. Just for fun, we recently asked our appraisal community, “Which fictional luxury home would you want to appraise?” Answer choices ranged…
The luxury segment of real estate is often described as being a minor part of the whole industry, but is readily recognized as being a major influencer in creating real estate trends and providing a barometer to changes for the industry. According to the…
Housing competition edged up slightly in September, with bidding wars heating up across the nation. Rumors are circulating about a possible end to GSE appraisal waivers. The new USPAP publication for 2020-21 is now available, and it has some cool new features. Plus, have…
Today’s luxury homebuyers are downsizing, prioritizing quality over space. Many are seeking luxury condos in great locations with eco-friendly features and top-of-the-line lifestyle amenities. Luxury condominium developers are recognizing the importance of including ‘wellness’ amenities and providing a luxury experience for their residents. New…
It seems only a few short years ago that demand for large properties, mega-mansions, private estates, and luxury ranches were all the fashion. But the younger generation, especially Millennial millionaires, are shying away. Here, we look at the changing face of the luxury home…
Despite pessimist forecasts in the fourth quarter of 2018, to date, the statistics for the 2019 luxury real estate market report a strong consistency with no dramatic upswings or downswings in sales, inventory, and pricing. Some markets certainly fared better than others, but in…
It was predicted last year that the new tax laws in the US, limiting deductions on mortgage interest and property tax, would cause a slowdown in the overall real estate market. However, it would seem that they have had very little effect. According to…
News media across North America has created its own winter storm regarding the luxury real estate market. Headlines are clashing with each other, from the New York Times claiming that the luxury market is in a funk to BNN stating that it will bounce…
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