The Deborah Brown Team Newsletter

Greetings from Deborah Brown

Deborah Brown, Associate Broker

CENTURY 21 U.S. Realty

3167 Lauderdale Drive, Richmond VA.

"Since the launch of Mid-Atlantic Estates in January 2005 the Deborah Brown Team has listed and pended $4.25 million in luxury property sales. Our marketing materials were used in the $1,080,000 sale of another Century 21 U.S. Realty waterfront listing in Barrington.

When you decide to sell or buy your luxury home call me or stop in at our Century 21 U.S. Realty Lauderdale office to discuss my enhanced luxury home services."

Luxury Home Amenities
Luxury homeowners are spending money to improve their homes. (Recent data from LexisNexis)

Home improvements are adding to the already spiraling prices of luxury homes. 85% percent already have security systems and 77% have gourmet/designer kitchens. Home theaters are predicted to become more prevalent in fine homes.

When asked which luxury amenities they plan on buying, the top responses were home theaters (39%), boat docks (15%) and topiary/landscaping (13%). Over the next two to three years more than 35% of luxury homeowners plan to add to or remodel their existing property. Owners of luxury homes typically invest more in their properties than any other asset.

Luxury Home Report for the West End

Homes over $500,000 Sold During Month of June 2004

Luxury properties sales prices are considerably higher this spring compared to the same period last year. The criteria for the data are homes sold during June 2004 and June 2005 in Henrico County area 22 in the West End.

Currently there are 12 luxury properties pending sale in the same area. The average pending price is $742,154 and average days on the market (DOM) is 34. Three of the homes were listed with extra amenities such as tennis courts and docks.

Area 34 also had higher selling prices with fewer homes sold similar to area 22. The data is from the CVRMLS.

Homes over $500,000 Sold During Month of June 2005