Community News

by Robyn Erlenbush, Published in Distinctly Montana, Winter 2015

I just returned from the National Association of REALTORS® conference held in New Orleans. This year I had the pleasure of speaking to the general membership and the Women’s Council.
 
My presentation, entitled Follow the Money: The Next Wave of Luxury and Resort Buyers, was a fast-paced look at what the new generation of worldwide buyers demand from their agent, how they chose their perfect home, and the latest trends and designs that influence their buying decision. 
 
We also took an in-depth look at the buying patterns of the international consumer. Currently, there are 2,200 billionaires globally, and that figure is set to double by 2020. The international buyers are primarily focused on major markets like New York, Miami, and San Francisco (think NFL cities) in the US, but we are already seeing a trickle-down effect into smaller markets with amenities including state capitals, college towns with populations of 100,000 and above, and some specialty markets with a strong emphasis on education, culture, and recreation. 
 
This second tier has led luxury homeowners to buy homes off-the-beaten-path for leisure purposes such as Gozzer Ranch in Idaho, Yellowstone Club in Montana, Lake Martin in Alabama, and Palmetto Bluff in South Carolina.  
 
Let’s take a look at the top five countries that are investing in the US and their buying patterns.
 
Read the complete story here.