When purchasing luxury real estate or investment properties, timing is truly of the essence. Market trends and peak seasons play a significant role in purchasing habits and pricing. Also likely coming into play are the buyer’s personal needs and desires to seek substantial savings wherever possible. Agents navigate the market by keeping an eye on trends, prices, and purchasing behaviors in order to give their clients a competitive edge, leading to major purchasing advantages and incentives.
The Agency’s director of estates division, Eric Lavey, knows the value of perfect timing all too well. His recent July Fourth weekend sale of a $7 million-plus Hollywood Hills estate was featured in a Mansion Global report on the art of timing in the luxury market. The article notes Eric knew another interested buyer had seen the house before leaving town on vacation and urged his client to act fast. Eric’s recommendation helped the client nab the property for 10 percent below asking price.
In the case of Eric and his client, purchasing over holiday weekends when other potential buyers are traveling is an example of the many ways people can hone in on a property and save. Being well versed on world market trends, recent historical events, and seasonal patterns play an important role in timing a client’s next big purchase.
To see available homes represented by Eric Lavey, view his listings page.