'Million Dollar Listing' brokers say now is the time for luxury homebuyers to scoop up a deal. Here’s their advice for buyers and sellers.
Luxury-home sales — those in the top 5% of their area based on market value — declined by a record 44.
"Everyone's just watching carefully waiting for somebody to pull the trigger on something to see if there's any indication of what the year will be," Flagg told Insider.Sellers: Accept that your home will sell for less than you want "What their homes might've been worth last year might be down anywhere from 10% to 20%. That's scary for sellers out there," Tutor said.Still, Flagg told dealers to be realistic:"Do not price the property in an aspirational way — price the property to get multiple offers." Based on his experience, properties that aren't priced to match their value on the market are likely to get their prices reduced before a buyer bites.
Flagg said that Christmas or Thanksgiving is the best time for buyers to house hunt because the market is so slow around that time. For the same reason, he advised sellers to not list their properties for sale around the holidays because they're less likely to get the price they want.Buyers: Be proactive about loans and timing
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Michael Jordan’s Famed ‘Dream Team’ Olympic Jacket Heading to Auction With Million Dollar EstimateThe red, white and blue Reebok jacket that Jordan — a Nike athlete — was forced to wear on the medal stand alongside the other members of USA Basketball’s first “Dream Team” at the 1992 Barcelona Olympics is headed to auction.
Read more »
MoFi Wins Approval For Multi-Million Dollar Settlement Over Analog Vinyl ControversySome MoFi buyers claimed that the deal was “tainted by the stink of collusion,” but a federal judge has flatly rejected those accusations.
Read more »
Drake wants $88 million for Beverly Crest mega-mansion he bought last year for $75 millionJust a year after buying a Beverly Crest compound for $75 million, rapper Drake is putting the home back on the market for $88 million.
Read more »
TABOO Secures $10 Million in Private Funding, Reaches $250 Million ValuationTABOO, new-gen content platform with Web3 tools of monetization and NFTs, shares details of its latest funding round and some future plans
Read more »
Gemini Becomes Top Pepe Holder Shortly After Listing.Gemini is now among the top 50 $PEPE holders with an impressive 748 billion tokens deposited
Read more »
Breakingviews - Ambani’s finance listing will measure disruptionMukesh Ambani is getting ready to list one of his consumer businesses but it isn’t either of the ones the market was expecting. Back in 2019 the boss of $200 billion Reliance Industries had pledged to spin out its giant retail and digital units. He has since lured big strategic and financial investors including Meta , Alphabet’s Google and KKR into those businesses. His fledgling financial services venture is now easier to take public.
Read more »