Salt Lake Real Estate Guy

General talk about Real Estate. How to buy, sell and invest in real estate. Loans, title, ideas for the beginner and experienced home owners. My day-to-day thoughts about being a real estate broker.

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Location: Salt Lake City/Park City, Utah, United States

I have been actively involved in the real estate industry for the past 20 years as an agent, owner, manager, broker and developer. I have attained the Graduate Realtor® Institute (GRI) designation, and Certified Residential Specialist (CRS) designation, which honors less than 4% of Realtor’s in the United States. I currently serve on the Education Committee of the Salt Lake Board of Realtors, and am a member of the Park City Board of Realtors and the Utah Association of Realtors. I am currently an Associate Broker for Windermere Real Estate in Salt Lake City, UT.

Tuesday, October 31, 2006

Luxury Real Estate?

The caption said: Luxury gated townhome community-Central location... Luxury homes in the $200,000 price range and located in the central city of Salt Lake? can't happen. I think this term is over used by agents everywhere, it is loosing it's luster. I mean, this property has linoleum! The term Luxury from Wikipedia: Luxury real estate (American English) or luxury property (British English) describes a niche in the real estate market dealing with the highest socio-economic group of property buyers.



Then there is this LUXURY Listing: FEDERAL HEIGHTS MEDITERRANEAN MANSION. COMPLETELY UPDATED WITH EVERY CONCEIVABLE LUXURY. THIS RARE HOME SCREAMS CHARACTER AND WORLD-CLASS QUALITY.DECKS, PATIO, POOL AND GARDENS ARE MATURE, LUSH AND PRIVATE. HEATED STONE WALKWAYS, FLOORS AND DRIVEWAY. $4,990,000. This is luxury!

I know there are luxury properties that fit into the luxury category that are only around the $1 million dollar mark, but I think anything below this amount is not luxury. Am I wrong?

posted by Real Estate 101 | 10:49 AM

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