Thursday, July 14, 2005

A Kitchen in the Bedroom?

(July 12, 2005) -- According to Coldwell Banker Real Estate Corp.'s survey of 300 affluent homeowners, 16 percent of respondents said they have kitchens in their bedrooms.

The 2005 Luxury Index, which polled owners earning more than $100,000 a year who purchased a home valued above $1 million within the last two years, also showed that 36 percent of respondents have extracted cash from their property via refinancing or a home-equity loan during the past year. Of these homeowners, 42 percent indicated that the money would be put toward residential upgrades.

Security systems, gourmet kitchens, landscaping, home theaters, hot tubs, and in-ground pools are the most popular amenities.

Source: American Banker (07/12/05); Bergquist, Erick

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