Soave Enterprises and Luxury Real Estate
Anthony Soave (owner of Soave Enterprises), like many other savvy investors, has taken
notice of the luxury real-estate market. Many have seen the headlines: Well-known old
homes selling for record prices, luxury townhomes appreciating in value even as other
properties sit unsold, and reports that luxury properties in Midwestern states are attracting
interest once reserved only for mansions on the coast. Tony Soave understands the
variables that affect luxury real-estate pricing and demand, and through Soave
Enterprises he offers buyers a selection of options based on each buyer’s unique needs
Luxury real estate appears to be an appealing investment even in the economic climate of
the moment. It is worth asking why this may be the case.
Firstly, economic troubles that may affect the willingness of buyers and sellers at every
other level to, well, buy and sell, do not necessarily reach the ultra-wealthy. Also, foreign
investment is a factor. Quality of life factors continue to make the United States a
desirable second home for wealthy foreign nationals, and the higher education system
attracts people from all over the world. As a result, foreign real estate investment may
help keep the market for luxury real estate in good standing. Finally, consider that
wealthy people may tend to pay for important purchases in cash, which means that
fluctuating interest rates and credit-market problems hold no power.
What do savvy luxury real estate buyers like Anthony Soave do? How do they make sure
their investments in luxury real estate prosper? There's never a simple formula, but
experts suggest the following rules:
It’s important to know what "luxury" means on a personal level, and to know which type
of real estate is personally appealing. Generally luxury homes are defined as those
costing over a million dollars in the United States, but the word may also mean a certain
kind of neighborhood, greater access to the Great Outdoors, or a room where all one’s
fishing trophies can be displayed. Whether it is location, space, quality of furnishings, or
any other factor, an educated buyer is often ready to rank their priorities.
Buyers should also take steps to ensure the real estate company they are working with
knows these priorities as well. A contract may be used to ensure that luxury real estate
buyers are getting what they want, top-to-bottom. For example, a buyer might specify in
the contract specific language ("restaurant grade" kitchen fixtures, for example, or a
library of however-many square feet, or with glassed-in shelves). On a related point,
when touring a luxury development—where a "model home" is often used for tours for
potential buyers, rather than the actual home to be bought—remember that the model
home may not necessarily identical to the home that is purchased.
A real estate buyer will often coordinate pre-approval, to increase the speed and
flexibility in buying properties. After all, these are the sort of properties that may require
a buyer willing to "strike while the iron is hot." Luxury real estate attracts people with a
lot of money to spend, a secure financial situation that makes them attractive borrowers
(if borrowing proves necessary), and it tends to be advertised nationally rather than
locally, so a lot of people may be interested in any given property.
While knowing their priorities, today’s buyers often keep an open mind. After all, the list
of states that offer great luxury properties is expanding - it is no longer just about the two
coasts. Buyers may know what is desired in a neighborhood, but they may also be
prepared to find it in places where it was not traditionally expected.
Anthony Soave owns and manages multiple luxury real-estate properties through Soave
Enterprises across the country. From innovative master-planned communities to luxury
high-rise properties along the coast, Soave Enterprises offers a myriad of possibilities.
About Anthony Soave and Soave Enterprises
Soave Enterprises is a diversified management and investment company founded by
Detroit businessman Anthony Soave that provides strategic planning, financial and other
management resources to its affiliated business ventures in the real estate, automotive
retailing, beer distribution, scrap metal, industrial services and transportation industries,
among others. For more information on Tony Soave and Soave Enterprises, please visit
3400 E Lafayette
Detroit, MI 48207