Fiscal Cliff Impact on Luxury Home Sales

Home

Fiscal Cliff Impact on Luxury Home Sales

On a national level, luxury real estate sales surged in 2012. The number of lavish style homes on the market in Jefferson and Berkeley counties, West Virginia hit a four-year high in the first nine months of 2012. Under the new fiscal cliff deal, households earning upwards of $450,000 will pay higher income tax and be subject to an increase in capital gains tax as well. This has real estate agents asking…with more money owed to Uncle Sam, how will this affect luxury housing in Jefferson County? To begin with, it could mean less big-ticket sales for Jefferson and Berkeley county real estate.  But, many experts believe this trend will not continue in the long run.  Some actually speculate that higher taxes may contribute to price appreciation. A real estate agent, who works with high-end clients on property investments, predicts that the housing market in Berkeley County is going to thrive and improve.  2012 welcomed a slew of record-breaking home sales as the world’s richest clients snapped up luxury homes and mansions in major US cities. Pouring money into real estate may sound like a risky venture to most Americans, but to a growing number of foreigners, the investment has never seemed smarter. Condos in the Charles Town, West Virginia area have been appealing to rich foreign buyers, but posh co-ops (which typically sell only to United States citizens) have garnered huge sales as well. No matter the city, the one factor that has contributed the most to outrageous sales prices is location. Homebuyers have been willing to pay top dollar for coveted addresses, stellar views and security-reinforced exclusivity in Jefferson and Berkeley counties. Even with the Fiscal Cliff deal initiating some changes for the wealthy, real estate agents say luxury real estate demand is still strong in Martinsburg, West Virginia thanks to America’s perceived safe haven status. Some investors believe that they can earn higher returns by purchasing US real estate and reselling it in the future for a profit. All in all, with the Fiscal Cliff Agreement finally put into legislation, 2013 promises to be an interesting year for both home buyers and sellers.

 

If you are ready to buy or sell real estate in Jefferson or Berkeley County, please contact us today at 304-725-1145. Linda Kilroy’s Team at ERA Liberty Realty is always here to answer your questions and help you with the sale of your home or the purchase of your dreams

Sophisticated Housing Trends for Baby Boomers

Sophisticated Housing Trends for Baby Boomers

blogjan

Sophisticated Housing Trends for Baby Boomers

It’s no surprise that housing design trends in Jefferson and Berkeley Counties, West Virginiaare catering to baby boomers since the demographic is huge!

 

The National Association of Home Builders says this generation is the largest, topping 76 million. The prediction is that baby boomers are looking to postpone, or even skip the retirement home, and instead, are finding homes for sale that meet their needs continuously as they age.

 

This trend forecasts an ever growing desire for housing in the Charles Town, West Virginia  area that is technologically sophisticated and also offers plenty of other options. What are some of the top priorities? Smaller and more efficiently designed homes that offer a shorter work commute, and close proximity to shopping and entertainment centers.

 

“Multiple generational housing” in Martinsburg, West Virginia is another popular trend where many generations of the same family live together, but have private areas as well as combined living space under one roof. This type of housing actually makes great economical sense as baby boomer children plan ahead for the care of their aging parents.

 

One of the features the baby boomer would be looking for in a home is windows that offer more light. If you’re selling your home and targeting this Jefferson County real estate market, it’s very important to make sure the curtains or shades are open and showcase how light and bright your home is, especially in areas like the kitchen, bathroom, and stairwells.

 

Even though baby boomers are either retired or nearing retirement, many make the decision to keep working. Oftentimes, they have hobbies and/or jobs that require home offices. Be sure to highlight if your home has special features such as wireless home network systems, remote control lighting, and other security features when you’re marketing your Berkeley County home.

 

Perhaps one of the most compelling selling points of a home for baby boomers is flex space. This trend is the ability to switch the use of one area of the home for something completely different as the baby boomer starts to age. So when you decide to list your home and you have one room staged as a den, consider marketing flyers that offer other suggestions for this space, such as a bedroom for extended family members.

 

For most buyers looking for their home in Jefferson and Berkeley Counties, offering options and showcasing your home’s features will help them clearly see the advantages your house has to offer.

 

If you are ready to buy orsell real estate inJefferson or Berkeley County, please contact us today at 304-725-1145.Linda Kilroy’s Team at ERA Liberty Realty is always here to answer your questions and help you with the sale of your home or thepurchase of your dreams.

Sophisticated Housing Trends for Baby Boomers