Despite the “housing bubble” horror stories promulgated by the mainstream “media” today, the market for Phoenix real estate is still expanding. Whether you’ve owned and/or you are an investor in luxury new homes, or you’re one of the smart ones who have taken advantage of highly favorable economic conditions for investors since 2001 and now what to show off your success to others, you’ll find plenty of Phoenix real estate to choose from.
What Are Considered “Luxury Properties”?
This is a relative term that varies from one part of the country (and even the world) to another. For example, a home that is considered “low-end” in Sacramento, California may be considered the epitome of luxury in say, Puerto Vallarta, Mexico. Likewise, tiny 800-square foot waterfront condos in Seattle could easily qualify as luxury new homes, whereas similar condos along the Missouri River in Omaha might not.
Additionally, the real estate profession makes a neat distinction between luxury new homes, luxury estates and luxury properties, based primarily on location.
The common denominator is market value. Like all luxury properties, Phoenix luxury homes are valued at $1 million or more. Because of the space available, Phoenix homes for sale in the luxury category are much larger in terms of square footage that their San Francisco or Manhattan counterparts; such luxury homes for sale in Phoenix are also located in the best neighborhoods and communities, and feature spectacular views of the desert scenery.
Some other factors that puts such Phoenix real estate in the “luxury” category:
· Custom design and construction
· Historical significance
· Proximity to amenities (golf courses, etc.)
· Low or no crime rate
· Far from industrial areas
Today, the savvy investor and/or homebuyer will find many such Phoenix luxury homes on the market from which to choose.
Phoenix Luxury Homes Meet Higher Standards
If you are considering an investment in Phoenix real estate for sale, you should know that such homes are inspected thoroughly several times before the sale is finalized. Besides all the other privileges enjoyed by the investor class in America, buyers and investors in Phoenix real estate that is classified as “luxury” are able to purchase their homes anonymously by going through a real estate attorney.
Eternal Summertime
Phoenix real estate is located in a part of the world that enjoys virtual summer 365 days a year. You can’t walk very far in Phoenix without crossing a golf course, and there are plenty of other recreational opportunities as well.
In addition, Phoenix is a vibrant and culturally active community. Phoenix real estate is a smart investment not only financially, but in quality of life.
Wayne Hemrick takes a look at the Phoenix real estate market and discusses the unique qualities of Phoenix luxury homes in the Valley of the Sun. If you are considering an investment in Phoenix real estate, this artricle will be of interest.
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