Lakefront property owners are getting top dollar for their homes, thanks to Platinum Real Estate the Luxury Home Experts
By Patricia Nugent
The luxury market in Lake County is having a moment.
Firmly at the forefront of representing high-end sellers and amassing a pool of qualified luxury buyers, Mark and Denise Zervos and the powerhouse selling team at Platinum Real Estate the Luxury Home Experts are closing out a record-selling fourth quarter.
“We are crushing the lakefront, seeing homes selling for higher prices in a shorter amount of time,” says Denise, who explains that defined by the Luxury Home Institute, in our region a home is currently classified as luxury if it’s above $500,000. “This is the first time in several years we’ve seen a jump like this. Cleveland and Lake County have earned a reputation for outstanding lakeshore properties. Homebuyers are particularly attracted to having their own beachfront as well. People relocating here from out of state are always amazed at how much home you get for the dollar compared to other big cities.”
For instance, Platinum has recently sold homes on Headlands Road for $985,000 ($466/square foot), Jordan Drive for $1.55 million ($422/square foot) and Villa Grande for $780,000 ($277/square foot).
As seen in the graphic here, nearly all the homes that were already on the market or came onto the market in the fourth quarter have sold.
“People are definitely putting more money into their homes,” she says. “We are also seeing more generations living under the same roof, whether that means the younger generation staying or coming back to live with parents, or seniors choosing to stay with their families.”
It’s All About Positioning
Mark and Denise say their seasoned approach of pre-marketing and strategizing before a home goes on the market are the keys to a smooth and profitable sale.
“Our talented team is highly collaborative when it comes to discovering all the things that make a luxury home valuable,” she explains. “We position its unique charm and tell its story to create an emotional connection between a potential buyer and the home.”
The system is working. Over the past 30 years they’ve been doing business, the Luxury Home Experts have sold more than $1 billion in properties.
It’s Second Home Season
In addition to a bump in luxury sales in Northeast Ohio, Denise reports they are also seeing a rise in people purchasing second homes and permanent homes and condos in Florida, whether for a snowbird getaway, retirement or investment.
“People naturally want to get away in the winter months,” she says. “And with many folks finding their job situation becoming remote due to the pandemic, our clients are getting younger. If you could work from anywhere, wouldn’t you move to someplace sunny and warm?”
To keep up with the flow of people buying places in Naples, Marco Island, Fort Lauderdale, Miami and the Keys, they are continually adding agents and opening offices.
In Cleveland, the team is led by industry veterans Lee Jarocki and Erin Paglio, and in Florida, it’s led by Cleveland natives and current full-time Florida residents Monica Fracci and Dan Sokolowski, Jr.
“We expanded into the Florida market five years ago and are knowledgeable about all the hot spots where people can find the best home for their dollar,” says Denise.
For their increasing number of Florida-bound clients, the team takes the time to tour cities and neighborhoods with them to get a feel for what would be the best fit for their lifestyle.
Platinum Real Estate has offices in Northeast Ohio, Columbus and Florida. The Platinum Center headquarters is located at 7200 Center Street in Mentor. To get more information, call 1-844-LUX-PROS. You can also visit ClevelandLuxuryExperts.com.