8/24/2008
 (IRVING, TX – August 24, 2008) – Homeowners at the highest end of the real estate market still have a dream house in mind and zip code does play a factor in where some call home, according to the 2008 Coldwell Banker Previews InternationalLuxury Survey. Real estate professionals with Coldwell Banker Residential Brokerage – Dallas/Fort Worth (CBDFW) recently met to discuss the finding of the survey.
Top locations for a dream home among those surveyed were on an island (27 percent) or in a rural country setting (22 percent), followed by the suburbs (18 percent) or an international destination (18 percent). Additionally, 17 percent of those surveyed confirmed that they have considered moving expressly to obtain a specific address or zip code. Eight percent of respondents actually admitted to having been influenced to purchase a property to “keep up” with friends or family.
In addition, high-end homeowners remain optimistic about home values with a strong majority of the affluent homeowners surveyed (85 percent) expecting the price of their homes to increase over the next five years, a sharp increase from the 66 percent tallied in the 2007 survey. In addition, four out of five of these homeowners surveyed believe the increase in value will be “significant” to “moderate” (81 percent).
“Key findings from our annual survey of the luxury market demonstrate that the typical million-dollar homeowner is invested not only in the value of their home as a current part of their portfolios, but also see long-term gains coming from this investment,” says Sue Meyer, president and chief operating officer of CBDFW. “Interestingly while 44 percent of those surveyed indicated that they plan to stay in their primary residence for at least 10 years, they also dream of owning the perfect home.”
In North Texas, CBDFW has over 100 Previews Property Specialist that can help with luxury home marketing. They note the findings of the survey ring true. Julie Choate, manager of the Southlake office of CBDFW, state that buyers seek out affluent areas in North Texas.
“Southlake certainly has been a destination for many affluent homebuyers searching for a premier address,” says Ms. Choate.
Real estate professionals Margaret Scribner and Nancy Dennis agree people factor in location when searching for a house. “Areas of Northeast Tarrant County and Dallas are prime areas people look for to call home,” says Ms. Scribner. “Colleyville continues to attract families for its quality of life, exceptional schools, homes, shopping and entertainment.”
“In Dallas we see people seeking exceptional homes in Highland Park, University Park, Preston Hollow, Frisco, Plano and other areas throughout North Texas,” says Ms. Dennis.
To buy or sell a home in Dallas/Fort Worth, please call any of the 19 offices of CBDFW or visit www.cbdfw.com.
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