QUARTERLY NOTE: 1st QUARTER 2023
Established Expanding Exceptional 2023
Despite the cooling of the real estate market nationally, 2022 was Velie Real Estate’s most successful year to date. There were several reasons why our strongest performance during a time when many experienced a slow down but the three words written in our brand, “Established Expanding Exceptional” define why we succeed in both up and down markets.
Established: Velie Real Estate has been in the top 1% in the luxury market for over 20 years.
Expanding: As markets move and flow so do we. We are now licensed in Minnesota, Florida, and Georgia. Our business is not only in the luxury home markets but also in lots, land development and luxury rentals. We have also added our newest team member, Mitch Lambert who is focused on home renovation to increase property value.
Exceptional: Velie Real Estate has always been atypical and outstanding in our profession. We believe that no one has a better understanding or achieves better results in the luxury market than we do. Creativity and knowledge are wonderful benefits but honestly, discipline and consistency are why goals become reality.
Looking into 2023:
The luxury market has slowed but prices still continue to increase at a 2%-4% rate, possibly more depending on location. One of the reasons, besides low inventory, that the higher end market will hold its own is that there are a significant number of cash buyers. Cash buyers are not affected by the rise in mortgage rates. Properties in the right location: (Nationally, South Florida and Mid Atlantic or Locally; suburbs with more property and upper end condominiums) will increase in value.
There have been some attempts to draw a comparison of this housing market to the crash of 2008-2010. We contend that the two markets are very different and hold very little relationship to each other. The graph below is a good explanation of those differences:
We are excited to report that we have some exceptional properties coming to market this spring.
If you are interested in a Stunning Lakeshore Lot, a Beautiful Orono Home with a pool or even an Ultra Luxury Rental in Downtown Minneapolis, please contact us.
Georgia on our minds
Be prepared to fall in love with ‘The Low Country’. '“The winding rivers, majestic oaks dripping in Spanish moss, elegant front porches, and softness of the southern dialect together took a part of my heart and I am forever grateful.”
We’re excited to announce that Bonnie is now licensed and practicing in Richmond Hill and the greater Savannah area. Whether your interest include a tour of-The Ford Field and River Club, Palmetto Bluff or the Residences in the Historic District of Savannah, please give us a call - the beauty will capture you.
Introducing Velie Real Estate’s Newest Member: Mitch Lambert
Born and raised in the metro area, Mitch Lambert has an expansive understanding of real estate marketing in the region. Along with his large network of connections in the industry and with his entrepreneurial mindset, Mitch is excited to use his knowledge to help clients find their perfect fit.
Mitch also owns and operates a luxury car detailing business, which he founded in high school and is still currently active in on a part-time basis. His persistent attitude for perfection will ensure that every step in the buying and selling process is a smooth transaction for all of his clients.