ERA Today Realty Blog - Southern Maine Real Estate News & Events

Lakefront buyers are starting to come out now that the snow is melting and lakes are opening up.  With historically low interest rates.....there should be alot of great deals to be made in the Sebago Lakes Region of Maine.......  Are you in the market for a vacation home?

Luxury Market

Program Information:

The ERA® International Collection is a strategic program for the luxury home market. It is a membership-based program that utilizes our international position and referral network of franchises around the world. The ERA® International Collection employs a range of upscale marketing strategies and techniques that reflect the high value of these properties and high expectations of their buyers and sellers. To learn more about the benefits of becoming a member of the International Collection, please

Demographics:

Affluent Boomers

 

• Only one in 10 baby boomers is truly affluent.
• Affluence is defined as having an annual household pre-tax income of $150,000, or $100,000 if retired.
• Almost all affluent boomers are married, college educated and live in a residence valued at almost twice that of the average boomer.
• Over nine in 10 watch TV every day, 87 percent read a newspaper or magazine, 76 percent listen to the radio and three-quarters use the Internet.
• Affluent boomers also spend an average of 30 minutes daily each on newspapers and magazines, and 40 percent said they read the ads in the magazines to which they subscribed.
• Boomer elites feel that they are on top of their finances and that they have prepared well for retirement. Some 95 percent have some sort of savings or investments vs. 75 percent for the total boomer population. (www.Focalyst.com)

Facts About Affluent Homebuyers

 

• Percent of 1st-time buyers with household incomes of $200,000 and more: 1 percent
  
• Percent of repeat buyers with household incomes of $200,000 and more: 6 percent
  
• Percent of 1st-time buyers who bought homes priced $500,000 and more: 3 percent
  
• Percent of repeat buyers who bought homes priced $500,000 and more: 10 percent
  (2004 NAR Profile of Home Buyers & Sellers)

Market Trends:

The Top 10 Luxury Markets to Watch
Unique Homes Magazine in its January issue lists what it expects to be the top 25 luxury markets in 2007.

	1.		Annapolis, MD
	2.		Asheville, NC
	3.		Aspen, CO
	4.		Atlanta, GA
	5.		Austin, TX
	6.		Bellevue/Medina, WA
	7.		Beverly Hills, CA
	8.		Idaho
	9.		Jupiter, FL
	10.		Manhattan, NYC

Source: Unique Homes, Camilla McLaughlin (December 2006/January 2007)

Strategies:

 

• Understand why you should work in the upper tier
• Define and measure the Upper Tier in your market
• Analyzing your market
• Assess the demographics of the affluent
• Evaluate your competition
• Understand what motivates the rich
• Understand marketing expectations of the rich
• Brand and position yourself as a luxury specialist
• Create a marketing and business plan
• Personal Promotion

Online Resources:

National Association of REALTORS®
www.realtor.org

www.luxuryrealestate.com

www.forbes.com