Would you like a view with that? Many home buyers are starting to say yes again to views, larger lots, cul-de-sacs, amenities and other lot premiums. Lot premiums were some of the first things to go when the market started to really tumble in 2008. Since then, smaller lots and homes have been what moves as buyers looked to cut costs and make ends meet.
With the current upswing however, lot premiums are again part of the sales picture. Whether it’s because folks are finding jobs or just feeling more secure in the one they have (possibly kept through it all?) is hard to say, but the fact is people are buying and buying with premiums. Jim Belfiore of Belfiore Real Estate Consulting says, lot premiums have doubled in many Metro Phoenix Area submarkets over the last eighteen months.
