November 16, 2024 2:25 pm
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Home is where the luxury is

Screen Shot 2015-06-12 at 7.41.35 AMBy Jesse A. Millard | Phoenix Business Journal

Bigger is no longer better in the Phoenix luxury home market.

Since the Great Recession, high-end homebuyers have been looking for smaller properties, according to industry experts. People who might have asked for a 10,000-square-foot home a few years ago are now asking for 8,000 square feet instead, said Tony Calvis of luxury home builder Calvis Wyant.

One reason may be some changing dynamics in buyer demographics. Rod Cullum, owner of Cullum Homes, said more empty-nesters tend to be buying on the luxury market.

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.