The “trophy tree” is growing status symbol for wealthy homeowners

The “trophy tree” is growing status symbol for wealthy homeowners

The “trophy tree” is growing status symbol for wealthy homeowners
They say money doesn’t grow on trees but it can certainly buy them. In a recent report from The Wall Street Journal, what has been dubbed as the “trophy tree” is a new status symbol for homeowners with deep pockets.

Because new homeowners don’t want to wait years for newly planted trees to grow in to a lush, privacy screening, shade providing forests, they are willing to shell out big bucks to get a head start. Tree brokers are being hired to help secure the purchase and relocation of full-grown trees.

Just like the competition for the right home can ignite a bidding war, landscape architects report clients outbidding one another for the right reforestation.

Today, conforming no-point 30-year fixed mortgage rates are averaging 3.0 percent and 15-year rates are near 2.375 percent.

Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.biz, social media (#AramcoReport), or over the phone at (866) 381-8888 and your questions may be featured in an upcoming article.