Sedona Homes and Land: Luxury Real Estate in Arizona
Often in real estate, new trends tend to start with the affluent. By the time the rest of the industry has begun to catch on, the wealthy have already established fresh parameters for defining a “luxury home”. Today, a “luxury home” is generally considered to have a listing price of $2 million or more. In Sedona, my Sedona Luxury Real Estate Professionals group considers $1 million and above to be a part of the luxury category.
Sedona Luxury Real Estate owners continually invest in their own homes
While the current housing market is challenging in many geographic regions, including the Sedona area, the upper tier continues to show its resiliency. Moreover, affluent homeowners typically continue “investing” in the value of their homes while they live in them. In 2006 it is estimated that homeowners spent $160 billion in home improvements, a 1.6% increase over the prior 12 months, with kitchens and bathrooms topping the list.
Sedona Real Estate sophistication goes Green
Due to fewer financial constraints, these luxury-end consumers have a greater range of choices. So what trends have emerged from their most recent activities? One of the most notable overall trends has been an increase in ecological awareness. Green has come into its own in a more sophisticated fashion. Sustainable designs have begun to manifest themselves in the increased use of earth tone colors, and renewable cork and bamboo floors.
The Sedona lifestyle and mild climate are perfect for bringing the indoors outside
Outdoor entertainment now centers on a gazebo or a pavilion, complete with stainless-steel ovens, ranges, and grills, granite counter tops, wine coolers and warming drawers. Prices for outdoor kitchens in some cases now rival the cost of indoor kitchens, costing upwards of $150,000 to install.
It's not always hot in the desert...
Another luxury item, long practiced in Europe, is radiant flooring, providing a clever way to warm chilly bathroom floors via a heating system installed beneath them. While radiant heating is most frequently found in bathrooms, the super-wealthy are beginning to install systems throughout their homes, with prices averaging about $500 per square foot.
Nice Counters!
Now that granite counter tops have made their way into the outdoor kitchens of the wealthy, and the indoor kitchens of mainstream America, new alternative counter top choices have begun to emerge. While granite remains the popular choice, more cutting edge alternatives like glass, basalt (a volcanic rock), Schist and quartzite are beginning to be selected by the ultra rich. Note that these alternative choices are double the $100 per-square foot price of granite!
Built-in Theatre or Media Room a must for your Sedona Luxury Home
Why go to the cineplex to see the latest Harry Potter film (and the two more yet to come) when you can have your own built-in theatre/media room complete with plush, cushy recliners, huge screens, custom cabinetry, a popcorn machine and a juice bar. Once reserved for Hollywood ’s power elite, it has now become a must-have item in many luxury homes.
Wine Cellars are a standard feature for today's real estate connoisseurs
Do we dare omit the customized wine cellar? As Americans become more sophisticated about wine, there is a corresponding trend among the wealthy to dedicate space in their homes to the art of wine. No longer will a simple wine rack do; connoisseurs today invest tens of thousands of dollars to build this upscale amenity into their homes.
So what comes next? Wait and see!
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Lee is a member of the international Institute of Luxury Home Marketing and through specialized training, education, proprietary research, tools and branding, she has built expertise in marketing Sedona luxury homes and estates for buyers and sellers. She was recently honored for having met strict performance requirements in earning the prestigious Certified Luxury Home Marketing Specialist designation.
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