Real Estate Analysis is Based on What Has Occurred In The Past

Real estate analysis is based on what has occurred in the past; it is how predictions are made and how future decisions are evaluated. The last two years have had profound lessons for our present and future. A once-in-a-generation pandemic initiated a paradigm shift: people began reimagining their ideas of home and rediscovering their essential values at the very moment when wealth was rising to historic levels around the world, thanks to rebounding stock markets and surging home equity gains. According to the latest Wealth-X data, the population of individuals with a net worth of $5 million+ reached more than 3.6 million globally. That was an increase of 19.8% over 2020 and a notable difference from 2020, which saw only a 2.2% gain over 2019. This extraordinary wealth growth led to a real estate expansion like we’ve never seen before. A new map for luxury opened up new locations and multiple homeownership in greater numbers. Home as a safe haven became the rallying cry for our time.

Where do we go from here? What opportunities should we look for?  Rather than focusing solely on the past, we are looking forward to The Report 2022. Annual statistics in the top 10% of 120 U.S. markets were analyzed with Coldwell Banker Global Luxury's partner, the Institute for Luxury Home Marketing, to provide a view into future trends that could impact luxury real estate and the next opportunities that lie ahead. Also consulted were Wealth-X to provide a global outlook on wealth, homeownership trends, and where current and upcoming pockets of international affluence may reside. Wealth management expert Barry Ritholtz added his financial perspective, and as always, Coldwell Banker Global Luxury Property Specialists and colleagues lent their boots-on-the-ground market insights. I hope you find the information invaluable in this report.             Regardless of price point, our team is united in their efforts to support the client, support each other, and get the job done in the best way possible. Paula Higman Real Estate is a unique team of talented and diverse individuals with a passion for success and client satisfaction. Contact Paula Higman today and let us take this journey with you to marketing and selling your home for the best value, to the biggest luxury real estate market out there.   Connect With Us:

SOLD | 1825 Three Kings Drive Park City, UT | paulahigmanrealestate.com

When a marketing program has been designed exclusively for high-end properties and an affluent clientele, the results are extraordinary.

• Strategic affiliations and an extensive global network give your property the widest possible exposure.
• Exclusive marketing tools and proprietary publications provide unmatched opportunities to showcase your home directly to an ultra-affluent audience worldwide.
• Luxury Property Specialists are backed by stringent certification criteria and extensive market expertise to ensure knowledgeable service.

Give your home expert marketing unlike any other. Contact me today.

435.602.8228

           

 

Regardless of price point, our team is united in their efforts to support the client, support each other, and get the job done in the best way possible. Paula Higman Real Estate is a unique team of talented and diverse individuals with a passion for success and client satisfaction.

Contact Paula Higman Real Estate today and let us take this journey with you to marketing and selling your home for the best value, to the biggest luxury real estate market out there.

 

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How's the Park City Real Estate Market?

 

February 2022 Statistics for Single Family Homes in Park City Proper (84060)

February 2022 Statistics for Condo/Townhomes in Park City Proper (84060)

“All real estate is local” has never been truer than now. Pricing, availability, and demand vary widely from neighborhood to neighborhood, reinforcing the need for a local REALTOR to guide buyers through the jungle of competing bids and rising prices. We offer a full-service real estate brokerage to help you buy and sell in the Park City and Deer Valley luxury communities.

Wondering What To Do In Park City? While Park City is most often thought of as a ski destination, it's on and off-slope activities are plentiful! For when you want to do something new, consider the following:

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How Does Inflation Affect Home Prices?

 If you've followed the news lately, you've probably seen quite a bit about inflation. The consumer price index jumped 0.8% in February, bringing the total increase over the last 12 months to 7.9% – this is the largest annual jump in the last 40 years.

So, how does all of this affect the real estate market?

The Inventory Issue
Interest rates have been kept low for so long it's created a bubble for everything and not just the housing market. There's also inflationary pressure on the housing market because of limited inventory. Limited inventory stems from a myriad of problems in the industry.

First, many homeowners aren't putting their houses on the market. This is due to factors like lockdowns, but also the fear they won't be able to find a new home to buy.

There are construction delays due to supply chain bottlenecks as well.

Low inventory means buyers are often having to put in bids well above asking to get properties, creating a frustrating situation, to say the least.

Other Inflationary Effects On Real Estate
There are a few other ways inflation can influence how much you pay for a home.

First, inflation is a reference to a rise in the price of everyday goods. Those everyday goods are used to build homes. If the price of things like lumber and appliances go up, then the builder will pass those additional costs onto the buyer in the form of higher prices.

In some cases, however, inflation can have oppositional effects on real estate. If inflation rises, then theoretically, money should become more expensive to borrow. People borrow less of it, so there are fewer home purchases and that can lead to lower prices.

Real Estate Can Protect You Against Inflation
While real estate can be negatively affected by inflation in the form of higher prices, it can also protect you from its effects.

As home prices go up over time, you're lowering the loan-to-value of your debt. You're simultaneously increasing your equity, but your fixed-rate mortgage payments will stay the same.

If you’re a real estate investor earning income from rental properties, then you're likely going to be able to charge higher rent when inflation is up. You can adjust the rent while the mortgage stays the same.

The relationship between housing and inflation can go in both directions. If you're a buyer right now, inflation isn't good news, but if you own a home, it can be one of the best ways to protect yourself against rising prices.

         

 

Regardless of price point, our team is united in their efforts to support the client, support each other, and get the job done in the best way possible. Paula Higman Real Estate is a unique team of talented and diverse individuals with a passion for success and client satisfaction.

Contact Paula Higman Real Estate today and let us take this journey with you to marketing and selling your home for the best value, to the biggest luxury real estate market out there.

 

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LET'S HAVE A COFFEE CHAT

LET'S HAVE A COFFEE CHAT

 

       

 

Regardless of price point, our team is united in their efforts to support the client, support each other, and get the job done in the best way possible. Paula Higman Real Estate is a unique team of talented and diverse individuals with a passion for success and client satisfaction.

Contact Paula Higman Real Estate today and let us take this journey with you to marketing and selling your home for the best value, to the biggest luxury real estate market out there.

 

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HOW ACCURATE IS YOUR ONLINE HOME VALUE?

 

HOW ACCURATE IS YOUR ONLINE HOME VALUE?

The typical home value of homes in the Park City area is $1,190,000. This value is seasonally adjusted and only includes the middle price tier of homes. United States home values have gone up 19.2% over the past year and I predict they will rise 13.6% in the next year.

Let me help you price your home correctly...Call me or Text me Today at (435) 602-8228.

        

 

Regardless of price point, our team is united in their efforts to support the client, support each other, and get the job done in the best way possible. Paula Higman Real Estate is a unique team of talented and diverse individuals with a passion for success and client satisfaction.

Contact Paula Higman Real Estate today and let us take this journey with you to marketing and selling your home for the best value, to the biggest luxury real estate market out there.

 

Ensure that you have the best representation when buying and/or selling Contact Paula Higman Real Estate Park City at 435-602-8228 

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