The one and only luxury real estate magazine, Prestige Homes Magazine, appears to be suffering from the housing downturn in the Twin Cities. I had noticed that over the last few issues, the number of real estate agents advertising homes for sale had decreased. This past month, I tried to buy ad space for two of my high end listings, but received an email from the advertising department that they would not be putting out any more issues. No word on if this is permanent, but if it is, it is a great loss to the luxury homes out there looking for a little home of their own.
Luxury Specialist
The Luxury Agent
Jennifer Kirby - BrokerKirby Fine Homes®651-785-3400JKirby@theLuxuryAgent.comLic: MN
2 comments… Join the conversation and add your own!
This is an unfortunate trend. the main problem with the luxury home market is that it is defined by the local business climate and those wanting to upgrade. The upgrade market right now is non-existent due to resale prices being low and the economy being soft does not instill confidence in the high-end buyer.
Marketing dollars are what drives listing magazines like that and if people cut back on advertising,. then no more publication…no mater how needed or desirable.
That’s not the only luxury magazine suffering in this economy. Donald Trump’s magazine just failed last week.