Millionaire Houses A Booming Market reports Dream Homeworks
Gives new hope to contractors who must work on extensive projects
Real estate agents and custom home builders have stated that there is one particular type of new home construction marketing that is doing very well: the multi-million dollar homes.
"Through these double doors this extends into the master bath and in here we have an exercise room," said Jamie Lium, the managing broker for Shapiro & Sher Group, as she shows the selling points of one high-end home.
A fireplace within the bathroom, as well as an in-home movie theater have become the most popular for those with enough disposable income.
"We've had a lot of increase in interest and activity," Lium said. "It's just amazing what we're seeing out there in terms of people... serious about buying."
She stated that there has been an 30% spike in business. Shapiro & Sher Group is a real estate firm that teams up with new Home builders like Merlin Contracting to produce high-quality estates worth anywhere between $1 and $20 million.
"We're actually talking to a client later today who owns a property in Lone Mountain," said Chief Financial Officer Bart Jones of Merlin Contracting.
Each of the construction projects brings in dozens of contractors. That is clearly a positive when it comes to the industry that has been hit very hard by the financial crisis its overall sector created. "The little work there is, is all I can count on to keep going," said David Peterson, owner of David Peterson Framing, Inc.
The owner was almost put out of business during the recession, and he saw his crew of 50 fall to seven. The increased work-flow of the multi-million dollar homes has certainly given him reason to have newfound hope. "We've recently done a 48,000 square foot home and it had about 125 workers on it," he said.
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