Wednesday, November 2, 2011

What Luxury Home Buyers Want

Yesterday one of the most expensive homes currently on the market on the Palos Verdes Peninsula popped up on the MLS hotsheet in "Pending" status.  I immediately picked up the phone to call my friend, and the listing agent, to congratulate her.  That's what friends are for, right?  Okay, I also wanted to get the inside scoop on the sale, or at least as much as she was ready and willing to share.
Why does a luxury home buyer choose one particular home over another?  What exactly creates the tipping point?
1)   In Palos Verdes the reason is likely to be the view.  In this case, the view is panoramic Pacific Ocean with a gorgeous Catalina Island and coastline view.
2)  Location is always a key player.  Besides being on the prestigious Palos Verdes Peninsula and sited on a highly desirable lot in a high-end development, it's close to the Port of Los Angeles and business ties of the buyer.  Location counts in more ways than one, and proximity to work, freeway access and airports can seal a deal.
3)  Nothing short of impeccable condition will do for the busy luxury buyer in today's gobal economy.  This new home fits the bill with high-end amenities throughout the home.  All the bells and whistles are there and they are all brand new.
In short, this unique home meets the wants and needs of this particular luxury buyer.  The same rule applies to every buyer whether they are first time home buyers or retirees.  The house must meet the "right now" needs of the buyer.  Wants and needs vary from buyer to buyer, but they always exist, and once met a match is imminent.

Norma Toering - REMAX Palos VerdesNorma Toering & Team RE/MAX Palos Verdes Realty
(310) 493-8333 / Office Phone: (310) 831-0800
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South Bay Los Angeles cities I sell real estate, property, houses and homes in: Palos Verdes Estates, Rolling Hills, Rolling Hills Estates, Rancho Palos Verdes, San Pedro, Long Beach, Torrance, Lomita, Redondo Beach, Hermosa Beach and Manhattan Beach. Based on information from the Association of REALTORS®/Multiple Listing as of the initial date of this article/blog publication and /or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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