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What is Your "Million Dollar Listing?"

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Real Estate Agent with Tropic Shores Realty - Ich spreche Deutsch!

What is Your "Million Dollar Listing?"

Not every market is like New York or San Francisco or other places in the country where million dollar listings are as common as sand on a beach.

That is definitely true for the real estate market in Hernando County, Florida, where average and median home prices have been hoovering around the $100,000 mark for several Dollar House by freedigitalimages.netmonths now and are slowly on the upswing.

Why am I bringing this up anyway?  Well, it's been a rainy day and I admit, I've just been watching a couple of episodes of the TV "not-so-much-reality" show "Million Dollar Listing" and am just drawing a few comparisons. 

Million dollar listings and more importantly, million dollar sales just don't happen very often in my market area.   To be precise, there have only been three residential property sales 1 Million and above in the last five years with the highest sale of 1.5 Million and this out of nearly 14,000 home sales over the same time period.

Home prices are relative to the area and we do have a few neighborhoods that could be considered luxury living including our beautiful waterfront community Hernando Beach - appropriately valued for the overall area market.

So when one such property that is my listing like this fantastic Hernando Beach waterfront pool home go under contract, I am very pleased for my sellers. 

I cannot help but wonder what this Hernando Beach waterfront home listed at just $439,000 would possibly be listed for in a different location, a different state or even just in South Florida where home prices are considerably higher than here.  Nevertheless, in relative terms, to me it feels just like my "personal million dollar listing" just went under contract!

 

Luxury Living in Hernando Beach Photo by Silvia Dukes

 

 

Looking to buy or sell a home in Hernando County, Florida? 

Please call me at 352-584-7441 or email me for information about marketing your Spring Hill or Hernando Beach home for sale or to find out more about available homes for sale in Hernando County, Florida.

What is Your "Million Dollar Listing?"

 

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 For more information about Hernando County Homes and Land for sale including Spring Hill, Brooksville, Weeki Wachee, and the communities of Timber Pines, Glen Lakes Golf and Country Club, Silverthorn, and Hernando Beach , please call or visit my website!

Let me help you find Your Place in the Sun!

 

Silvia Dukes PA, Broker Associate

Tropic Shores Realty, 3441 Deltona Blvd, Spring Hill, FL 34606

Phone: 352-584-7441    Email: SilviaDFL@yahoo.com   Website:  www.SilviaDukes.com

 

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Comments (36)

Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Alexandra, thank you for pointing out this clarification.  Of course, it varies from locale to locale.  Sometimes it would be nice to be able to switch places though even if only for a little while!

Marti, thank you for the group feature.  Much appreciated!

May 04, 2014 04:52 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Sylvia - It looks like a great view and worth a million in many places.  I sure it is a well appointed home.

May 04, 2014 05:52 AM
Kathy Smiley
Rodeo Realty ~ Fine Estates Westlake Village - Newbury Park, CA
"Real Estate results that make YOU smile!"

Great post and interesting how different areas of the country vary so much in price. I'm in Southern Cal, and the average price in Westlake Village is $800,000. BUT... we don't have a ton of volume, so maybe it all evens out!

May 04, 2014 10:19 AM
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Grant, thanks, it is indeed.

Kathy, that of course is another aspect although I'd rather do one of your $800,000 average price transactions than eight of our $100,000 average price transactions!  :-)

May 04, 2014 10:21 AM
Richard Arnold
Keller Williams Realty East Valley - Tempe, AZ
Realtor - Tempe, Chandler, Mesa, Gilbert, Phoenix

The Phoenix metro area has grown so large and also famous for seasonal residents, golfers and baseball fans who want to be close to the action - so that now there are luxury communities behind every Circle K in the valley (so to speak...).  You can your custom luxury anywhere.  There is a multi-million dollar estate just a 5 minute walk from my office.  Traffic blows past it every day and I doubt half a percent even have a clue it could be there. (insert value proposal) 

 

 

May 04, 2014 10:26 AM
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Oklahoma City is one of the most affordable metro areas in the country. A miilion dollar listing is probably over 6000SF on at least an acre of land. A miilion dollar listing in OKC for me is really when I make someone feel like a million dollars at any price.

May 04, 2014 10:33 AM
Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

You don't have to be in a big city to have those sky rocketing prices and, yes, it's all about location location location. There is almost nothing in Carmel-by-the-Sea, the city itself, for under a million. The cheapest condo just outside about $300,000+

May 04, 2014 11:48 AM
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Rich, that's interesting, amazing properties can be found in the most unexpected places.

joe, that's a great attitude.  Whether high or low price, every property is equally important to its owners, sellers, and buyers.

Hella, thanks for sharing, I always find it interesting to not only compare pricing but also what those prices do buy in other areas.

May 04, 2014 12:05 PM
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Silvia what a lovely property and would be worth over a million dollars in some places.

Then again it is all relative.  Congrats on getting it under contract.

May 04, 2014 12:49 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher
I might be a little far away from that. :) maybe I should.
May 04, 2014 01:21 PM
Chris Griffith
Downing-Frye Realty, Bonita Springs, FL - Bonita Springs, FL
Bonita Springs Listing Specialist - Agent

I make my million dollar sales the hard way in spite of being surrounded by million dollar homes.  Chain reaction follow up sales that add up to $1M are more likely than landing or selling one big one.

May 04, 2014 08:01 PM
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

Yes, it is amazing to look at the diffs in prices.  Salaries are also higher here to go along with the higher cost of living.  but, I suppose in 10 yrs my parents could sell their house here and easily get 2 houses there or 1 mega mansion and still have money to spare.

May 04, 2014 08:31 PM
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

Oh and you definitely have a nice lifestyle advantage there.

May 04, 2014 08:31 PM
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Jennifer, thank youn and those are my thoughts when I watch those shows (not very often, who has the time?)

Laura, would be interesting to hear your perspective on these shows, too. I think we all know it's not the norm for everyone.

Chris, that is the way we do it here! You are in a beautiful area of Florida as well, one that many people never get to know.

Debbie, that is exactly why so many people from NY, NJ, and the New England states come to live here - affordable prices and a great lifestyle!

 

 

 

May 04, 2014 10:32 PM
Eve Alexander
Buyers Broker of Florida - Tampa, FL
Exclusively Representing ONLY Tampa Home Buyers

...and million dollar homes never sell like the drama TV agents portray.

Eve in Orlando

May 05, 2014 12:55 AM
Carol Zingone
Berkshire Hathaway Home Services Florida Network Realty - Jacksonville Beach, FL
Global Realtor in Jax Beach, FL - ABR, CRS, CIPS

Silvia, I know. Some of our prices seem so reasonable to buyers from other parts of the country, and so high to some of our own residents...

May 05, 2014 01:27 AM
John Marshall - FORE!
LoKation Real Estate - Cherry Hills Village, CO
Specializing in Golf Course Properties

Silvia - In Denver there are currently 1,168 homes priced at $1M or above and that represents about 15% of the inventory, I remember in 2000, Denver hit 100 homes on the market that were listed at $1M or higher (however only 970 of those are actually within 40 miles of downtown Denver)

879 Actually sold within the last year

May 05, 2014 04:09 AM
Marc McMaster
RE/MAX Centre Realty - State College, PA
Putting my clients before myself

We have some million dollar listings but I'd rather have listings that will actually sell and have more than 1 potential buyer. 

May 05, 2014 04:36 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Silvia, so well said!   Eileen & Morgan from NYC came to Denver and I showed them our "million dollar mansions" and how much square feet you get.   I saw a multi-million dollar CONDO in NYC and the kitchen wasn't even that great.   Price is all relevant.

May 05, 2014 05:35 AM
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Eve, and that is for sure!  I'd like to add that I'm glad that reality is quite different than those "dramas" that are played out for us on TV.

Carol, that is the flip side and it's also why Florida is one of the states that has so many people from other states move here.

John, those numbers are amazing.

Marc, very true, the higher the prices, the fewer the buyers who can afford them.

Joan, I was thinking of Eileen and Morgan when I watched that show!

 

 

May 05, 2014 10:44 AM