Marr international Ltd a UK based property marketing company have found that Golf Courses are proving key factors when selling millionaire homes. Whilst marketing a 4 million dollar luxury home from Palos Verdes Estates California they found that overseas buyers would have discounted the Californian home if it was not for Google Earth calculating the distance from the house to Trump National Golf course.
Nicholas Marr CEO ‘ Wealthy home buyers from overseas can afford to knock down the house and start again if they wanted but when it comes to the location of a prestigious golf course such as Trump National Golf course location is key. One potential buyer used Google Earth to work out his driving distance to the course before considering getting on a plane to view the property.
Luxury Property has traditional been harder to sell and owners with a smaller pool of eligible buyers are going to new lengths to help sell their luxury homes in California. The House at Palos Verdes Estates for example will be sold at an auction event which will be an open process to the highest reasonable offer over $4,736,587. The sale will be conducted in an open bid process.
More details of the Californian luxury property
The Californian real estate bubble is deflating and it has taken some time for property owners to be more realistic with their expectations in the slowing market. This has led to slow down in Californian housing market.
“California’s housing slump resulted in part from conflicting expectations of buyers holding out for better deals and sellers still seeking a premium for their homes, a state Realtors group concluded.”
“Association President Colleen Badagliacco said the role of real estate agents during that period was to try to educate sellers that the market had changed. But it took from two to six months for that message to sink in.”
“‘They remember that their neighbour sold their house, just to pick a number, for $800,000 four months ago,’ Badagliacco said. ‘In their mind then, the house is worth $800,000. The agent has to be the voice of reason.’”