{"id":19567,"date":"2025-10-29T14:42:25","date_gmt":"2025-10-29T21:42:25","guid":{"rendered":"https:\/\/www.arizonafoothillsmagazine.com\/in-house\/?p=19567"},"modified":"2025-10-29T14:42:27","modified_gmt":"2025-10-29T21:42:27","slug":"how-to-navigate-the-current-luxury-home-market","status":"publish","type":"post","link":"https:\/\/www.arizonafoothillsmagazine.com\/in-house\/in-house-news\/how-to-navigate-the-current-luxury-home-market","title":{"rendered":"How to Navigate the Current Luxury Home Market"},"content":{"rendered":"\n

Luxury housing is constantly driving the Arizona real estate market. However, with recent tariffs and the government shutdown, there\u2019s a fear preventing many people from wanting to buy. While less competition hurts sellers, it also creates opportunities for those wanting to buy in the lower-luxury market. The less competition there is, the more likely you are to land your dream home.\u00a0<\/p>\n\n\n\n

Luxury housing is defined by price point and customization. While the definition has not changed, the price point has shifted due to inflation and supply-and-demand imbalances. Rebecca Hidalgo, the CEO\/Designated Broker at Integrity All Stars Realty<\/a>, says the price has almost doubled. <\/p>\n\n\n\n

\u201cThe definition of luxury used to be over a million bucks, but that just doesn\u2019t buy luxury anymore,\u201d Hidalgo said. \u201cYou may be able to get something for that much in the far east or west, but in areas like Scottsdale, you have to spend at least $2 million.\u201d<\/p>\n\n\n\n

Despite the shift, she says now is the perfect time to buy that home, because there’s little competition.\u00a0<\/p>\n\n\n\n

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Photo: Kevin Brost. This is a $7M home in Arcadia.<\/figcaption><\/figure>\n\n\n\n

\u201cWhen demand is down for whatever reason, the opportunities are fantastic,\u201d Hidalgo said. \u201cRight now, the buyer is king. If tariffs and the shutdown go away, rates will go down, and sellers will take the throne.”<\/p>\n\n\n\n

Nonetheless, if you are looking to enter the luxury market, there are a few things to keep in mind.\u00a0<\/p>\n\n\n\n

It\u2019s easy to get excited and start touring homes as soon as you decide to buy but looking before you\u2019re fully approved can backfire fast. Being fully approved makes you more likely to be taken seriously by a reputable real estate agent. It also lets you make a quick offer when you find the right home. <\/p>\n\n\n\n

The market is comprised of several smaller markets, and they are not guaranteed to be in sync. Luxury homes generally range from $2 million and above. Once you hit a price point of over $4 million, depending on the location, you could be entering seller market territory.<\/p>\n\n\n\n

David Newcombe, principal of MacLean Newcombe<\/a> at Compass Real Estate, says that because the luxury market is hyperlocal, it\u2019s not wise to follow national headlines or reports. Find out where you want to live. Not just in terms of the city, but also in what neighborhood you want to live in – and do your research. The market doesn\u2019t just vary between cities; it can vary from neighborhood to neighborhood in the same city as well.   <\/p>\n\n\n\n

\u201cReports often come out saying the sky is falling, but luxury real estate is hyperlocal,\u201d Newcombe said. \u201cIt\u2019s important you choose the area you want to live in and find a qualified realtor to help you research on that area and price point.\u201d<\/p>\n\n\n\n

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Image: ListerPros Photography; this Chandler home is on the market for $1.75M.\u00a0<\/figcaption><\/figure>\n\n\n\n

While researching the financial aspects is essential, you also need to make sure you end up in a neighborhood you will enjoy. It\u2019s a good idea to drive around a bit, especially in the evening. See what it\u2019s like at night and experience the neighborhood before committing to house hunting.\u00a0<\/p>\n\n\n\n

Newcombe says that since the majority of the luxury market is custom homes, it\u2019s crucial to prioritize the lot first. A good lot depends on what you\u2019re looking for, but in general terms, it needs to be somewhere quiet, away from the main street and gate. <\/p>\n\n\n\n

\u201cYou want to choose somewhere you can imagine as your little garden of Eden,\u201d Newcombe said. \u201cHome is about relaxing. It should be private. If you walk into the backyard and can be seen and can\u2019t landscape your way out of it, the lot will lose value.\u201d\u00a0<\/p>\n\n\n\n

Once you\u2019ve chosen a home and you\u2019re ready to start closing out, it\u2019s pivotal that you make yourself more appealing by making the contract as simple as possible. Even in this market, if it\u2019s the right home and price point, it\u2019ll sell within days.\u00a0<\/p>\n\n\n\n

\u201cThe simpler you make your contract, the stronger it will be,\u201d Newcombe said. \u201cAll of those small dollar gains in the contract get in the way and cause sellers to pause. Will a thousand-dollar home warranty really make a difference on your dream home? Get the price right and you\u2019ll get the home.\u201d<\/p>\n\n\n\n

Most importantly, though, it\u2019s pivotal that you find a solid real estate agent and title company. <\/p>\n\n\n\n

\"\"<\/a>
Image: ListerPros Photography; this Chandler home is on the market for $1.75M.\u00a0<\/figcaption><\/figure>\n\n\n\n

Escrow services are a requirement in Arizona and can only be managed by a licensed professional, typically a title company. Many people believe you have to go with the one the real estate agent or seller recommends to you, but that\u2019s not the case.\u00a0<\/p>\n\n\n\n

Escrow is an account that acts as a mediator between the buyer and seller, holding them accountable for not breaching the contract and ensuring that all funds are disbursed appropriately. Because it plays such a significant role in managing the transaction, find an agency you can trust.\u00a0Braydon Dennis, VP of Sales and Marketing at Great American Title Agency<\/a>, says it\u2019s pivotal you shop around for an experienced company.\u00a0<\/p>\n\n\n\n

\u201cMake sure you do your research,\u201d Dennis said. \u201cCheck online reviews for any complaints filed against the company. Look into how long they\u2019ve been operating. Experience is crucial for a smooth transaction.\u201d <\/p>\n\n\n\n

He also says it\u2019s a good idea to sign all documents in person. This reduces the risk of mistakes. When in person, you can ask immediate questions about documents and receive clarification from the escrow officer. <\/p>\n\n\n\n

\u201cIn-person signing reduces the risk of errors or missing signatures, which can delay closing,\u201d he said.  <\/p>\n\n\n\n

\"\"<\/a>
Photo: Kevin Brost. This is a $7M home in Arcadia.<\/figcaption><\/figure>\n\n\n\n

Hidalgo says the more experienced and well-known the realtor, the more likely they are to be trusted by the seller and get you the home of your dreams.<\/p>\n\n\n\n

\u201cInterview at least three different buying agents. Look for experience, if they\u2019re well known, and make sure you get along with them,\u201d Hidalgo said. \u201cName recognition makes it easier to win a bidding war. Sellers will go with good, reputable teams every time.\u201d\u00a0<\/p>\n\n\n\n

Above all, though, she stresses the importance of not waiting to buy a house. <\/p>\n\n\n\n

\u201cTime is ticking,\u201d Hidalgo said. \u201cThings will shift, and we\u2019re going to be back to multiple offers on every house. We\u2019re transitioning back to a seller’s market. Don\u2019t wait.\u201d\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Luxury housing continues to lead Arizona real estate, creating opportunities for buyers to find their dream home with less competition.\n","protected":false},"author":1,"featured_media":19568,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6],"tags":[2666,2239,4928,5776,5777,5775],"class_list":{"0":"post-19567","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-in-house-news","8":"tag-arizona-luxury-home","9":"tag-arizona-real-estate","10":"tag-housing-market","11":"tag-integrity-all-stars-realty","12":"tag-maclean-newcombe","13":"tag-navigating-the-market","14":"cs-entry","15":"cs-video-wrap"},"yoast_head":"\nHow to 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