Flippers are concentrating more on high-end homes after exhausting the deals in the lower and mid-price ranges in 2012 and the beginning of 2013. There were 34% more luxury home flips last year compared to the prior year. Get ready to choose a negotiation strategy that works for contractors and investors when you find that luxury home in 2014.
The affluent from other countries that are considered less economically stable are increasing their focus on prestigious areas of the US such as Manhattan, San Francisco and Los Angeles.
Affluent Chinese people are predicted to become an even bigger force in the U.S. luxury market in 2014. Chinese people are already the second largest foreign real estate buyer group in the United States.
Custom conveniences that tie into a home buyer’s interests, lifestyles and budgets will continue to separate homes that move quickly from the rest. Such features include shower heads that stream music, automated home systems for everything from the refrigerator to the beer draft dispensing system, and custom fine art retractable television cases that disguise your television as a piece of elegant artwork.
The EB-5 program is attracting more wealthy individuals from all over the world, by allowing foreigners to invest $500,000 to create 10 U.S. jobs in exchange for a U.S. green card.