Luxury Housing Market may be Rebounding
Southeastern Wisconsin is unique in that many lifestyles are represented in a small geographical area. One can live on the shore of Lake Michigan, or on the shore of a beautiful, spring fed, inland lake. Hobby farms and equestrian estates abound. Country living or upscale condo living is available. The luxury market can be found throughout these market segments. What was not unique to Wisconsin, was that the luxury housing market in our state, has taken a bit of a beating, just like the rest of the country. What seemed to be an “sure thing” wasn’t. No longer could one purchase a dilapidated cottage on a lake, and turn it around for a profit, merely by slapping up some paint, cutting the grass and putting in a for sale sign. “McMansions” sat idle, in favor of smaller, energy efficient. low cost mortgage properties. The rub is that many of these homes offer a wonderful opportunity for “dream lifestyle” living. The American Dream for some, includes boating and swimming from your own pier, viewing city lights from a penthouse suite, or riding the trails of meadowed and wooded acreage on a your favorite prize horse. It may include “movie night” with your neighbors in your private movie theater, showing off a car collection in your heated 5 car garage, or viewing the wildlife on the acreage of your country parcel. Whatever the “dream” is for you, luxury living can be wonderful.
What is happening with prices in this market? Let’s see what Steve Harney has to say about it . And, if you’d like to purchase or sell a luxury property, give me a call. I’d love to help you live YOUR American Dream!
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Karen Trepton
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