The up and down ride of the real estate market hasn’t affected the luxury homes market as you might expect, including Coral Gables luxury homes.
Those in the luxury homes market report that demand has remained strong across the country, although it is not as though high-end homes are moving as quickly as they may have in the distant past.
Tips for Luxury Home Sellers of Properties Like Coral Gables Luxury Homes
Some considerations that home owners trying to sell their Coral Gables luxury homes need to:
- Ensure the home is priced correctly.
- List their home with a real estate company that will properly market the home.
- Request the highest quality of visual media, such as photographs and virtual tours.
- Ask for a broker open house where luxury real estate professionals tour the home.
- Showcase the benefits of the area or community, such as the yacht club, clubhouse, etc.
- Enlist the help of a professional home staging agent who can dramatize the luxury home to its grandest.
- Be patient. Finding the right home buyers who can afford Coral Gables luxury homes may take some time.
- Consider listing your home with a luxury real estate auction.
Luxury Real Estate Auctions
Luxury home auctions have become increasingly popular since 2008 when the market crashed and it became more difficult to move any properties, including Coral Gables luxury homes.
Just like the rest of the real estate market, there was a glut of million-dollar-plus homes. Value on them had fallen and even the wealthiest buyers were waiting to see what was going to happen in the financial markets before considering snatching up Coral Gables luxury homes or other similar high-end properties.
As the market evolved, auctions became a way for luxury home sellers to release their properties, like Coral Gables luxury homes, without losing on the deal.
With the success of these auctions, many luxury home sellers are beginning to prefer this method of selling than the more traditional method. Since many wealthy individuals are used to auctioning antiques, classic automobiles, paintings, and other similar items, selling their luxury home through an auction has become natural.
Reports have shown an increase in selling luxury homes via an auction house over the last four years, and these deals are not about a glut of abandoned, speculated homes. It is a way for sellers to take stronger control of the marketing efforts of their homes, say many real estate auctioneers.
Move Fast But Often Below Market Value
As you may expect from an auction, the highest bidder wins. If there is competition for the luxury homes, who knows what you might snare as a final price, but typically it is 20 to 25 percent below the market price.
Auctions bring in deal seekers so if you want to move Coral Gables luxury homes or similar properties fast, then an auction may be worth your while. According to dealers, the auction process takes just 60 days from beginning to end versus a year or two or more when listing a home.
