| America's wealthiest buyers are busy bidding at | | | | but many do not buy their first luxury home until they |
| auction. | | | | reach retirement in their early 60's. They are nearly |
| INDIANAPOLIS, IN - While most home sellers in the | | | | always married and two-thirds are "new money" as |
| national real estate market struggle to find willing | | | | opposed to inherited wealth. |
| buyers. Luxury home sellers find an eager audience at | | | | For an occupation the vast majority refer to |
| auction. | | | | themselves as large corporation business executives, |
| Luxury homes are the fastest growing segment of the | | | | closely followed by entrepreneurs who own their own |
| real estate market in the United States. Even while the | | | | business. This is rounded out by doctors, lawyers, |
| rest of the housing market is in a slump and heading | | | | inventors, professional athletes, stock broker, actor and |
| for rougher territory the luxury home market is vibrant. | | | | musician. One in three buyers will come from over 500 |
| A robust market for luxury properties does not | | | | miles away. |
| guarantee overnight success for sellers of million dollar | | | | Luxury home buyers spend more time at home. |
| homes however. The number of homes priced at over | | | | Entertaining in style is very important to this group of |
| 1 million or more in the United States is approaching | | | | buyers. They want party rooms for their children as |
| 500,000. With the highest concentration of luxury real | | | | well as outdoor living rooms with fully equipped |
| estate found in Massachusetts, Florida, U. S. Virgin | | | | kitchens, grills and fireplaces. Media rooms with the |
| Islands, and California. | | | | latest in technology and sports bars where they and |
| Selling a luxury property can often be a long and | | | | their quests can cheer on favorite teams. |
| expensive process. Knowing your buyer and creating | | | | Having the energy for all this entertaining requires good |
| a unique selling proposition for your property can | | | | fitness so extensive exercise space is a requirement; |
| shorten the sales cycle and reduce expenses | | | | multiple workout rooms, indoor lap pools, and indoor |
| significantly. This is why real estate auctions conducted | | | | courts for basketball and tennis are in demand. |
| by a professional and knowledgeable auctioneer are | | | | While fun and fitness is important, luxury home buyers |
| becoming the preferred method among luxury home | | | | are also practical and looking for spaces to reflect this |
| sellers. | | | | sensibility. His and hers office space, computer work |
| Winning bidders at luxury home auctions pay with | | | | stations located in the kitchen. Even the laundry room |
| cash. | | | | is more significant; pulling double duty as a second |
| And exactly who are these luxury home buyers. Let's | | | | pantry, storage area away from prying eyes or gift |
| take a look: first of all they can be recognized by their | | | | wrapping center. |
| financial influence. A third are cash buyers, not | | | | And the entire package must be wrapped in security |
| affected by interest rates or fluctuations in the | | | | which is a top priority. A luxury property should have |
| economy. Of those who use a mortgage, nearly half | | | | color video/audio cameras which can be viewed from |
| placed a 50% or more down payment. And despite | | | | any TV as well as the internet. Buyers want panic |
| paying top dollar for their home purchase 40% will | | | | buttons and secure bullet proof rooms, and of course |
| invest more money in major home renovations. | | | | safes for valuables and important documents. |
| These buyers can afford multi million dollar homes for | | | | For more information, contact Tower Auction |
| a reason; they are the best negotiators in the housing | | | | Company at 317-333-6977, or by visiting them on the |
| market. As far as negotiating style goes, 62% provide | | | | web at . |
| minimum divulgence playing it "close to the vest" while | | | | *Contact Information: |
| 24% "play hardball", and only 13% say "money is no | | | | Tower Auction Company |
| object". The auction method of selling real estate levels | | | | 3208 W. 16th Street |
| the playing field resulting in a fair selling price and | | | | Indianapolis, IN 46222 |
| acceptable terms for both buyer and seller. | | | | Phone: 317-333-6977 |
| Most luxury home buyers are "Baby Boomers". | | | | Email: Web: |
| How would you recognize a luxury home buyer on the | | | | *This article may be freely reprinted and redistributed |
| street? Well to begin withtwo-thirds are of the "baby | | | | as long as this paragraph remains intact. |
| boom" generation (between the ages of 43 and 67), | | | | |