Blog :: 09-2013

Today's Luxury Homebuyer

Do you know what todays luxury homebuyer is looking for in real estate today? We do - and we have the market research to prove it. Home This week, Better Homes and Gardens Real Estate released findings from a study we recently conducted to discover what todays luxury buyer is looking for in a home. At The Shanahan Group, these findings are not surprising and something that we talk about with our buyers and sellers on a daily basis. Some key findings from the study:
  • Survey findings show that technology is evolving the role of the real estate agent, but certainly not discounting the personalized connection they provide. Ninety-six percent of luxury homebuyers today are leaning on their real estate agent for more acute information than ever before. They are looking for insight into neighborhood lifestyle (65%), advanced new listing notices (64%), advice on housing trends (55%), and support on a personal level throughout the buying process (53%).
  • Multiple Properties and Lifestyles: As the real estate market comes roaring back, a new vote of confidence is apparent among luxury buyers. Investing in more than one home has become a trend in today's luxury market. A majority of luxury homeowners surveyed (53%) prefer owning multiple "lifestyle" homes to support activities like skiing or theater-going. In fact, more than half (58%) of luxury homebuyers already own multiple homes to support their lifestyle activities.
  • Fabulous Lifestyles Meet Fabulous Amenities: Bigger isn't necessarily better -- or more luxurious. In fact, 60 percent of luxury homebuyers surveyed would rather have as many upgrades as they can afford in their home, rather than more square footage. Similarly, nearly all (94%) luxury homebuyers surveyed would be willing to give up 1,000 square feet of living space from their next home in order to get a lifestyle amenity they desire, such as; living in a better neighborhood (54%), living in a house with "character" (51%), more land (44%), access to dining and entertainment (39%), and a shorter commute (38%).
  • Wired for Luxury: When it comes to their dream home, a majority (66%) of luxury homebuyers surveyed said a "smart" home is more important to them than a "green" home. When house hunting, 87 percent of luxury homebuyers surveyed would not consider living in a home that isn't tech-friendly.
Whether you're looking to buy or sell your existing residence or purchase an additional home, we at Better Homes and Gardens The Shanahan Group offer unparalleled experience and knowledge of the Luxury Market. For more on the results of this study, see our CEO, Sherry Chris on FOX Business Channel (embed this link: http://video.foxbusiness.com/v/2660042753001/luxury-home-buyers-investing-in-homes/?playlist_id=932683241001)

To Always Remember

9_11 My first "I remember where I was" moment occurred when the Challenger exploded just after take-off. It was January 1986. A nor'easter was blowing into Massachusetts and my school closed early to make sure everyone got home safely. A bunch of us rented some movies and headed to my friend, Joe's house to watch. One movie was Thief of Hearts. I can't remember the other one. My friend Michele called her father to tell him where she was. I can remember her saying, 'What?!" and to us, "the shuttle exploded! Turn on the TV!" There are others now. But twelve years ago... I was sitting in my office in Andover and my husband called me when he got into his office in Cambridge. He commented he'd just heard on the radio that someone had just flown into the World Trade Center. We both thought it was some poor idiot in a Cesna. We both thought it was an accident. We hung up and I ambled into my boss, Lee's office and told her. She tried to get onto CNN.com and couldn't. Then another co-worker ran in to say a second plane had just hit the other tower. Not an accident. An attack. We were in a new building and didn't have a television, so all over, small groups of people gathered around small images on computer monitors. Every time someone managed to get some news, it spread as horrible rumors through the office. As we learned about Flight 93, my friend, June got a panicked, crying call from her college-aged son. His dad was flying back from PA today. Had she heard from him? She had not but later learned, thank God, he was not aboard that flight. Finally, Lee and I left the building to run to a local Best Buy to get a TV. Going home would take too long. It was in Lee's Jeep that we heard that the first tower had fallen. We saw the second tower fall standing among strangers in front of a big-screen TV in Best Buy. We spent a longer while at work, eventually leaving to watch the horror unfold from the comfort of our own homes. There, I pleaded with my husband to leave the job he had just started a few weeks before. He worked in Kendall Square, Cambridge where MIT is located. I was sure if there were more attacks "they" would target the academic centers soon. He didn't leave until 5:00 and was home in record time. No one was on the roads. He found me in front of the TV exactly where I had landed when I arrived home hours before. We watched more. We headed to his mom's to wish her a "happy birthday." More TV, bed, sleep. In the morning, we woke up back to the bad dream that was our new reality.