“Techset” Redefine Luxury Home Sales
Last week, former San Francisco Giants pitcher Tim Lincecum sold his contemporary Paradise Valley estate to Phoenix-area tech entrepreneur Mario Martinez II. The $3 million all cash deal is not the biggest to happen in Paradise Valley this year, but it is important non the less as it showcases the changing dynamic of real estate in Paradise Valley, New York, and other cities around the world. A younger, more technologically savvy buyer (the techset) is also moving into the luxury real estate market that for a long time has been dominated by established CEOs and executives.
Sports stars and celebrities have long been buying multi-million dollar “starter” homes. Over the past decade they have been joined by the Mark Zuckerbergs of the world. Not to generalize or over simplify, but I have found that the techset has specialized priorities, and it is important to recognize these differences to help young buyers find their perfect properties.
- They want convenience
Easy access to shops, restaurants and transportation is a strong selling point for young entrepreneurs. Paradise Valley’s location minutes away from downtown Phoenix and Scottsdale makes it an advantageous Southwest base for start-up owners taking advantage of Arizona’s low taxes and educated work force.
- They crave unique features
The espresso bar in the master bathroom of 8221 N, 73rd Place ensures you start your morning right
Espresso machines or breakfast kitchens in the master suite, bike vaults, glass-enclosed wine rooms, maybe even one-of-a-kind pieces of art. Tech buyers want features that speak to their unique personalities and the creativity that helped them to develop the new and innovative companies that gained them their wealth.
- They want technology
6067 N. Paradise View’s Smart Home System allows for the control of everything from air conditioning to fire features remotely.
Smart home features that allow for full control of an estate from anywhere in the world is an attractive selling point for technologically savvy buyers.
- They want the home to reflect their personality
The modern, clean interior of 4529 E. Desert Park Place is perfect for contemporary art collections.
Whether it be a turnkey property that is fully furnished perfect for the entrepreneur who is pouring every waking minute into his or her new venture, or a structure with good bones that allows the buyer to create their ideal vision- the perfect home will differ from person to person.
- They want a home they can grow into
Complete with built in play house and theatre room, this children’s wing is perfect for young families.
When I originally sold 5901 E. Valley Vista Lane to a young tech entrepreneur, he was a bachelor looking for a desert enclave to escape the Pacific Northwest’s dreary winter. Now, a number of years later, he is married with four children. His Paradise Valley home has been there with him through these changes, providing him the space needed for an incredible children’s wing, and ample outdoor space for a putting green, trampoline, and sports court, and more for entertainment. The flexibility this home gave to its owner is indicative of the perfect home for any young buyer.
Tech entrepreneurs cannot be pigeon holed into one type of home or style. Their dynamic personalities and desires in a home make them exciting clients to work for. Having sold homes to the techset in the past, I am looking forward to welcoming more young entrepreneurs to the Phoenix area in the future.