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386 315 4744
James@JamesJestes.com

Serving The Greater Daytona Beach Area

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Buyers Are Finding More Space in the Luxury Home Market

Buyers Are Finding More Space in the Luxury Home Market | Simplifying The Market

A year ago, additional space and extra amenities had a very different feel for homebuyers. Today, the health crisis has brought to light how valuable more square footage and carefully designed floorplans can be. Home offices, multi-purpose rooms, gyms, and theaters are becoming more popular, and some families are finding the space they need for these upgrades in the luxury market.

The Institute for Luxury Home Marketing (ILHM) explains:

“With quarantine concerns still top of mind for many luxury buyers, we see large, sprawling estates making their comeback.

For instance, the last six months have seen a resurgence in the buying of mega mansions and estate-size homes – specifically properties that offer space (both inside and outside), separate home offices, gyms, and private amenities such as swimming pools, yoga studios, and recreation rooms.”

This was not the case at this time last year, as the most recent Luxury Market Report from ILHM emphasizes:

“Exactly one year ago, we reported that demand for large properties, mega mansions, private estates, and luxury ranches had reduced significantly over the previous few years; especially from the younger generation of luxury property buyers.”

For today’s buyers looking for larger homes, steady increases in equity might be what makes a move possible. Leveraging home equity makes it easier to afford the down payment on a luxury home, and current low interest rates are making mortgage payments more affordable than they have been in years. The report from ILHM also notes:

“Luxury real estate prices may continue to strengthen further into the third quarter, as the affluent continue to see large investment returns from the currently strong stock market.

Coupled with the low interest rates, the policies granting (and insisting) on working from home implemented by many employers, and the concerns of the pandemic, all translate to the affluent increasingly trading in their city lifestyle for a home that has it all.”

Clearly, today’s strong gains in home equity paired with record-low interest rates make fall a great time to move up into the luxury market to meet those changing needs.

Bottom Line

If you’re ready to gain some breathing room in a larger home, let’s connect so you have the guidance you need to find more space in the luxury home market.


GIVE ME A CALL AND LETS TALK ABOUT YOUR REAL ESTATE NEEDS – JAMES JESTES 386-315-4744

Most Recent MLS Listings Today

580 Rio Vista Avenue Daytona Beach FL 32114
Featured
1 / 69
$799,000
3
BEDS
2
TOTAL BATHS
1,841
SQFT
580 Rio Vista Avenue Daytona Beach, FL 32114
Single Family Residence For Sale
- Active

Embrace the ultimate waterfront lifestyle in this stunning riverfront retreat, offering breathtaking views, deep-water access, and a private dock with a brand-new boat lift. This 3-bed, 2-bath, 1,841 sq. ft. home sits on 100 ft of deep water frontage

Listing courtesy of James Jestes of EXP Realty LLC
11222 Rapallo Lane Windermere FL 34786
Open House Sun, Jun 1, 2 PM
1 / 61
$699,800
4
BEDS
2
TOTAL BATHS
2,350
SQFT
11222 Rapallo Lane Windermere, FL 34786
Single Family Residence For Sale
- Active

2025 aesthetic inside and out. You will love this east-facing and tucked-away, private, fully fenced tropical court lot in gated South Belmere, offering the rare combination of peaceful seclusion and unbeatable convenience—just minutes from three maj

Listing courtesy of Elliott Hagood of Home & Family RE & Property Management
2948 Bella Flore Terrace New Smyrna Beach FL 32168
New Listing - 5 hours on site
1 / 73
$995,000
3
BEDS
2
TOTAL BATHS
2,050
SQFT
2948 Bella Flore Terrace New Smyrna Beach, FL 32168
Single Family Residence For Sale
- Active

Pristine ,well kept home ! Used for a vacation home ! Gated community in Venetian Bay on the 18th hole , backed up to the club house ! This is the largest lot in the subdivision . Enjoy outside living on the front screened in porch or on the scre

Listing courtesy of Ron Ballou of Coldwell Banker Coast Realty
3 Ashford Lakes Drive Ormond Beach FL 32174
New Listing - 7 hours on site
1 / 60
$889,500
4
BEDS
3
TOTAL BATHS
3,793
SQFT
3 Ashford Lakes Drive Ormond Beach, FL 32174
Single Family Residence For Sale
- Active

Custom ''Luxury Builders'' contractor's personal home. The ''Shakespeare'' Green Luxury at its finest. Certified gold by the Florida Green Building Coalition, Energy Star rated by the US Govt. & FL Yards and Neighborhoods by the State of FL. Situate

Listing courtesy of Skip Stamper of Halifax Area Properties LLC

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Related posts:

  1. How Buyers Can Win By Downsizing in 2020
  2. Now’s the Time to Move-Up and Upgrade Your Current Home!
  3. 2 Myths Holding Back Home Buyers
  4. Why Home Office Space Is More Desirable Than Ever

Posted in: Blog, Down Payments, For Buyers, For Sellers, Interest Rates, Luxury Market, Move-Up Buyers

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James Jestes Broker Associate SRN Real Estate Pros

James Jestes


Broker Associate | eXp Realty
386-315-4744
James@JamesJestes.com
I'm Available Daily:
8:00AM to 8:00PM

Call, Text or E-mail!

"As an Associate Broker with eXp Realty, I am dedicated to helping families and individuals accomplish their real estate goals by providing dedicated service when buying or selling a home. I have served my country in the U.S. Army and the U.S. Marines; I bring that same sense of service and selflessness to every one of my customers."

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BUY AND SELL REAL ESTATE WITH JAMES JESTES

James Jestes Broker Associate SRN Real Estate Pros

James Jestes


Broker Associate | eXp Realty
386-315-4744
James@JamesJestes.com
I'm Available Daily:
8:00AM to 8:00PM

Call, Text or E-mail!

"As an Associate Broker with eXp Realty, I am dedicated to helping families and individuals accomplish their real estate goals by providing dedicated service when buying or selling a home. I have served my country in the U.S. Army and the U.S. Marines; I bring that same sense of service and selflessness to every one of my customers."

FEATURED LISTINGS

No Results Found.

SEARCH ALL OF THE GREATER DAYTONA BEACH AREA

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James Jestes, Your new favorite Realtor.

Hello my name is James Jestes and I am a Broker Associate with eXp Realty.  I am dedicated to helping you find your perfect new home. I’m a no hassle, no pressure agent here to help you accomplish your real estate goals. Please reach out to me and let me know how I can help you purchase or sell your home.

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James Jestes
eXp Realty
386-315-4744
James@JamesJestes.com

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