I’m a Real Estate Agent: 5 Suburbs the Rich Love – Yahoo Finance

Major hubs like New York City, San Francisco, Los Angeles and Honolulu have some of the highest real estate prices in the country. But while only wealthy individuals can comfortably afford to buy property in these big cities, that doesn’t mean they always want to. For those who are looking for more wide open spaces, less traffic, and more privacy — among other things — a suburban lifestyle is far more appealing than an urban one.
I’m a Real Estate Agent: These Will Be the Best States To Buy Property in the Next 5 Years
Know: 3 Things You Must Do When Your Savings Reach $50,000
If you’re curious about some of the top U.S. suburbs that attract the wealthy, you’re in the right place. Real estate experts Melissa Zimbelman, Lisa Rutkowski, and Zach Steinberg weighed in. Here’s what they said.
According to Melissa Zimbelman, Realtor and property manager at LUXE International Realty & Property Management, Nevada has several attractive, expensive suburbs.
“In the Las Vegas area market, we have a well-known west-side ‘suburb’ that is owned/run by the Howard Hughes Corporation. While still technically part of Las Vegas, it is a master-planned community called Summerlin. It has been voted the top master-planned community in the nation for many of the last 33 years it has existed,” said Zimbelman.
Summerlin also “features some of the best rated public and private schools in our area, has over 230 community parks, has over 200 miles of walking/biking trails, as well as convenient access to high-end retail/shopping centers, celebrity-run restaurants, and a variety of luxury home options.” She added, “The highest priced home listed there currently is $23,500,000.”
Along with excellent amenities and high-end real estate, other factors that draw in wealthy individuals include convenient access to an array of services, activities, restaurants and high-end brands. Security and privacy are also key factors.
More: 15 Cheapest, Safest Places To Live in the US
Located in Central Florida is Winter Park, another suburban area that tends to attract the rich. This is due to many reasons, not least of which include the available amenities and exclusivity of this high-end community.
“Winter Park is considered a destination town. Just north of the city of Orlando, you’ll find residents walking their dogs and driving down Park Avenue in custom Mokes and golf carts,” said Lisa Rutkowski, real estate advisor with Premier Sotheby’s International Realty.
“Park Avenue is lined with fantastic restaurants and boutiques, most with water bowls at the front door as this is a very pet-friendly community,” Rutkowski added. “For those who choose to live in Winter Park, from all walks of life, you can expect a range of price points and available amenities to include estate homes along the Winter Park Chain of Lakes, golf course properties, and luxury condos. The highest sale in the last 6 months in Winter Park closed at $6 million.”
Right up there with Winter Park is Windermere.
“Some of Central Florida’s most expensive, exclusive homes are located within Windermere and Winter Park,” said Rutkowski. “While the average price per square foot for real estate in each of these communities is approximately $330, the square footage and features that homeowners desire here are impressive!”
As a suburban area, Windermere also offers a slower pace, which appeals to many. The community also has plenty to offer.
“At the heart of this affluent community is a quaint town center that hosts a Friday morning farmer’s market. This feels like old Florida, with only a few small shops, restaurants, and a brewery. If you just happened to drive down Main Street, you would never guess that you could find some of the most spectacular Central Florida properties here,” said Rutkowski.
She added, “Following the sand/dirt roads that are a passionately community-kept charm, you’ll find beautiful, gated estate homes with lakefront docks. The most exclusive homes, some belonging to celebrities, are within the guarded gates of Isleworth. This is where you will find the home that in the last 6 months, sold for $12 million.”
Macdonald Highlands and Seven Hills are both suburbs located near Las Vegas, ones that often attract the affluent.
“On the southeast side of the Las Vegas Valley, in Henderson, are Seven Hills and MacDonald Highlands, which also feature amazing luxury homes and high-end retail and restaurants,” said Zimbelman. “Tucked into the hills and surrounded by stunning golf courses, many of these areas/homes also have gorgeous Las Vegas Strip/city views. The highest price listing in MacDonald Highlands is $29,900,000.”
As for what makes these specific locations attractive, here’s what Zimbelman said: “Access to high-end retail, restaurants, services, and entertainment is typically what our most discerning clientele are looking for. Privacy, security, and convenience are key, as well. Easy access to the airport and freeways/parkways is also top criteria for our high-end clients.”
Located in Collin County, Frisco, Texas is another high-end suburban area for the wealthy.
“We are seeing continued demand for properties in Frisco and most parts of Collin County (just north of Dallas County),” said Zach Steinberg, senior general manager at New Western’s Dallas (Fort Worth office).
This community has enough to attract not only the wealthy but also those looking for a new home for their family.
“People from the coasts continue to move to Collin County due to the strong employment, great schools, and more affordable housing based on where they are moving from,” said Steinberg. “Frisco has many amenities that wealthier residents enjoy. New major developments with lots of entertainment options (PGA, Universal Studios, The Star, Shops at Legacy)… high end dining, shopping, sports and concerts — all within a short drive.”
More From GOBankingRates
7 Best Mystery Shopping Companies To Work For
I'm a Self-Made Millionaire: Here Are 3 Things I Never Waste Money On
3 Ways to Recession Proof Your Retirement
7 Mistakes That Drain Your Wallet at the Gas Station
This article originally appeared on GOBankingRates.com: I’m a Real Estate Agent: 5 Suburbs the Rich Love
Homes are even less affordable now than they were before the 2008 crash. Low supply will drive prices even higher, according to Goldman Sachs.
Larger housing trends in the U.S. as a whole don't necessarily inform hopeful homebuyers or current homesellers about their markets. Some locales offer the advantage – or disadvantage – of bucking nationwide trends. For example, while home prices increased by at least 20% over the last year in some places, they also decreased substantially in […] The post Where Home Prices Are Falling Most – 2023 Study appeared first on SmartReads by SmartAsset.
Living on $2,000 per month is doable, but you won’t be able to live just anywhere. This is important because at the time of writing the average Social Security benefit paid is $1,701 per month. With a small retirement portfolio, you can relatively easily add a few hundred dollars to that amount, bringing your household […] The post Where Can I Retire on $2,000 a Month? appeared first on SmartReads by SmartAsset.
Buy now, or wait? It’s a question many aspiring homeowners are struggling with.
The US median down payment increased 11.3% year over year in the third quarter to $30,434, the highest in a decade.
Mortgage assumption allows the seller of a home to pass along to the buyer an existing home loan, negotiated earlier at low interest rates.
Managing your taxes can be one of the most complex aspects of estate planning and a new IRS rule change continues that trend. The rule, published at the end of March, changes how the step-up in basis applies to assets held in an irrevocable trust. If you need help interpreting the IRS rule change or setting […] The post Want to Leave Assets to Heirs? IRS Rule Change Should Have You Rethinking Your Irrevocable Trust appeared first on SmartReads CMS – SmartAsset.
Seniors choosing Medicare plans can fall into traps leaving them with higher costs or fewer doctors than they expected. ‘I was so stupid.’
Gas prices across the U.S. dropped, even in notoriously expensive California, shrugging off escalating Mideast tensions and oil prices for now.
(Bloomberg) — Lithium giant Albemarle Corp. has walked away from its A$6.6 billion ($4.2 billion) takeover of Liontown Resources Ltd., after Australia’s richest woman built up a blocking minority and effectively scuppered one of the largest battery-metals deals to date.Most Read from BloombergIsrael Latest: Army Says Hamas Officials Dead; Over 600,000 in Gaza Flee SouthUS Pushes to Contain Israel-Hamas War, Warns Iran About EscalationIsrael Latest: Biden and Abbas Talk as Gaza Invasion NearsGlo
The drugstore chain faces thousands of lawsuits over opioid crisis and struggled for years with failed mergers.
It wasn’t that long ago that BofA seemed poised to become America’s most lucrative bank. A big bet on bonds changed all that.
The Nasdaq and leading stocks suffered sharp losses late in the week, an expectation breaker for the market rally, Tesla headlines big earnings.
Warren Buffett's business partner, Charlie Munger, would be a lot richer today if he hadn't sold or donated over 75% of his Berkshire Hathaway stock.
At 68, I do not have any investments of any kind. My $80,000 condo is paid off, and I have $60,000 saved. Am I too late? -Bernhard It's never too late to start investing and managing your money. But I … Continue reading → The post Ask an Advisor: ‘Am I Too Late?' I'm 68, Have No Investments and Only Have $60K Saved appeared first on SmartAsset Blog.
Suzanne Somers, who gained fame as bubbly blonde Chrissy Snow in the 1970s sitcom “Three’s Company,” died Sunday, according to her publicist. In her 1988 autobiography, “Keeping Secrets,” Somers detailed a fraught childhood growing up in California with an abusive, alcoholic father. After leaving the show, Somers appeared on other sitcoms and television shows, then later launched a second career as a fitness and wellness guru, publishing diet and workout books, among other businesses.
South Korea's stock market watchdog said on Sunday it found two Hong Kong-based investment banks had engaged in naked short-selling, which would likely result in record fines. The two unnamed investment banks made naked short-selling transactions of a total 40 billion won ($29.58 million) and 16 billion won, respectively, the Financial Supervisory Service (FSS) said in a statement. Naked short selling of stocks – in which an investor short sells shares without first borrowing them or determining they can be borrowed – is banned by the Capital Markets Act in South Korea.
U.S. company cites difficulty of completing deal for Liontown Resources after Gina Rinehart bought large stake
(Bloomberg) — The tagline from Wall Street was that 2023 was the year of the bond. Instead, fund managers are coming to terms with one of the toughest years ever.Most Read from BloombergIsrael Latest: Army Says Hamas Officials Dead; Over 600,000 in Gaza Flee SouthUS Pushes to Contain Israel-Hamas War, Warns Iran About EscalationIsrael Latest: Biden and Abbas Talk as Gaza Invasion NearsGlobal Markets Stable as US Pushes to Contain Middle East WarYour Guide to Understanding the Roots of the Israe
The teenagers and elderly walkers at Crossgates Mall might not realize it, but they are standing on a Wall Street battlefield with potentially hundreds of millions of dollars on the line. Four years ago, legendary Wall Street investor Carl Icahn made a huge bet against the future of the U.S. shopping mall in what was called the Big Short 2.0. The bet used credit-default swaps, essentially insurance policies insuring bonds against losses, tied to an index tracking bundles of loans to malls and other commercial properties.

source