Luxury Los Angeles Real Estate News and Info

Just listed... Bel Air Mansion...only $125M
April 24th, 2007 10:11 AM

Wow... This amazing French Chateau, named Fleur de Lys and modeled after Versailles sets new California list price record.  And why wouldn't it?   Just check out the numbers... 5 acres in Bel Air.  45,000 sq ft.  12 bedrooms. 14 baths.  9 car garage.  On property managers house with 3 bedrooms.  Staff quarters for 10.

But, it's so much more than mere numbers!  This estate, completed in just 2002 has all the right touches.  The ballroom... has wonderful frescos on it's ceiling...  and has banqueting space for several hundred guests.  Italian Marble is seemingly everywhere... The Library houses a first edition collection...  Want to watch a movie?  Invite your friends as the screening room seats 50!  Care to spend the day at the pool?  Why not? The pool house has its own full Kitchen, massage room and gym.  Need some more excersise?  Trot around the 3/4 mile jogging track.

This Estate could even take the record for the highest sales price EVER recorded for a single family home, but it will have to beat out Donald Trump's Palm beach home also currently listed at $125M and Saudi Prince Bandar bin Sultan's $135 million ranch in Aspen

Available by appointment to pre-qualified clients only.  So, just give me a call and we'll get it set up!

Rich

Richard B. Lombari Jr, P.A., CRS, GRI

Broker/Associate Realtor®

(800) 693-7990

 

 


Posted by Rich Lombari on April 24th, 2007 10:11 AMPost a Comment (1)

Beckhams Buy L.A. Mansion
April 28th, 2007 11:45 AM

Posted by Rich Lombari on April 28th, 2007 11:45 AMPost a Comment (0)

Buying a Luxury Home: Why Use A Realtor (Part 4 of 4)
April 28th, 2007 9:23 AM

It’s time for me to put on my REALTOR® hat again and talk about the importance of having a licensed real estate professional to assist you in your search for and purchase of a luxury home. Hopefully you have read my previous articles on this subject, but if not, here are the links: Part 1 – Your Motivation; Part 2 – What to Look For; and Part 3 – Searching for a Luxury Home).

Luxury homes are unique, and the right home or estate may be hard to find if the specs are unusual, or the inventory is especially limited in the area you wish to live in. A qualified REALTOR® will know how to do this. Once s/he ascertains exactly what you want, a good agent can send you listings that only meet your criteria, and will also preview properties for you (with additional photos and commentary) so you only go out to look at those that truly are right for you. This is the best approach, particularly if you are out of town and only want to make a trip to look at homes once there is a select list that are worth your time. With today’s technology you can preview videos, DVDs and virtual tours of the available luxury properties and estates from the comfort of your home before venturing out.

Recent studies by the National Association of REALTORS® indicates that a large percentage of home buyers use a REALTOR® to help them through their real estate transaction, and that include luxury buyers. Their reasons for doing so are the standard advantages for using a licensed professional, but others are specific to the luxury home buyer.

  • Knowledge of real estate contracts and requirements regarding disclosures
  • Best access to all the information regarding properties on the market
  • Ability to provide a neutral party to negotiate on YOUR behalf
  • Someone to represent YOUR fiduciary interests and not those of the seller
  • Buyer confidentiality
  • Coordinate the flow of paperwork, which can be massive, between buyer and seller and with the title and escrow companies, attorneys, inspectors, mortgage professionals and whoever else is involved in the transaction

But some reasons are more specific to those of you in the luxury market:

  • A good REALTOR® will have more knowledge of the luxury market itself and can help you find homes meeting your specifications that are not currently for sale but which could become available OR where sellers would entertain a reasonable offer from a qualified buyer.
  • Particular knowledge about luxury homes – high-end amenities and finishes, specific communities that would fit your requirements, access to exclusive enclaves, etc.
  • Can help ensure anonymity where privacy issues are paramount (extreme wealth, certain personal situations, celebrity status) and knowledge of who the buyer is could preclude fair negotiations for that buyer. Using your personal representative to work with the agent can be a good solution.

Like your CPA, attorney and personal banker, having a REALTOR® to assist you through the transaction is prudent to ensure your fiduciary interests are protected while you are acquiring the home of your dreams.

If you are interested in seeing a sampling of high-end homes here in San Diego (e.g., La Jolla, Rancho Santa Fe, Del Mar), let me know your price range and general requirements and I will email you the properties that meet your criteria, or have the listings mailed to you overnight. The MLS often does not tell the whole picture, so if there are homes that interest you I will preview them and provide a virtual photo tour via email, along with additional photos (perhaps a DVD and other marketing materials) and other information that is available.

Good luck! And please don't hesitate to request my assistance if I can help in any way, or provide further information.

Jeff Dowler, ABR, CRS, e-PRO, SRES, Ph.D., REALTOR®

RE/MAX Associates – Encinitas, CA

(760) 840-1360 direct (877) 845-3178 (toll free)

Mailto:JDowler@remax.net

www.SoldOnCoastalLiving.com

www.RelocationAtoZ.com

www.FansOfCoastalSanDiego.com

What’s Up in Real Estate, Doc?

Serving the high-end coastal communities of San Diego including La Jolla, Del Mar, Solana Beach, Encinitas, Cardiff, Rancho Santa Fe and Carlsbad


Posted by Rich Lombari on April 28th, 2007 9:23 AMPost a Comment (0)

Welcome... and thank you!
April 22nd, 2007 11:04 AM

First I would like to thank my many friends and Realtors® from around the country that have contributed kicking off my blog.  I really appreciate your help and acknowledge you as leaders in the luxury real estate field.

For my visitors, this blog's focus is luxury real estate in the Los Angeles area, but I felt it fitting that we also get the input from other well established luxury agents getting a fuller view of the luxury market and trends. 

In future entries, I will be exploring great neighborhoods throughout Greater Los Angeles, chronicling their origins, history, strengths and even their current market values.  I will share with you my resources so you can delve even deeper into areas that interest you. 

But more importantly I know that the insights that you my readers can provide will be infinitely more interesting, so I encourage you to participate.   Please post comments on posted articles, or feel free to email me your own articles.

I really treasure the Los Angeles area and feel very blessed to get to explore areas, neighborhoods, historical homes and even new stately mansions.  My intent is to share this unique perspective.

So, please visit often and enjoy!

Rich

Richard B. Lombari Jr., P.A., CRS, GRI

(800) 693-7990


Posted by Rich Lombari on April 22nd, 2007 11:04 AMPost a Comment (0)

Ten Power Tips When Selling Your Home
April 18th, 2007 6:25 PM
Knowledge is power and I am a firm believer in empowering all of my clients. The more equipped they are, the more I can help them.  Below are my top 10 ‘Power’ tips that are easy to do and can make a world of difference when selling your home. I hope you enjoy:

1)      To start, the easiest and most reliable way to improve the ascetic and appeal of your home is to enlist a professional. The right quality home service professional can help you get everything in order, from repainting the porch to providing a thorough cleaning in the bathroom. This way, you can stay focused on important things.

2)      It’s true what they say: it’s the little things that count! A well-manicured lawn, trimmed shrubs and a clutter-free porch will certainly enhance first impressions and be more welcoming to prospective buyers! How about a newly painted (or at least scrubbed) front door? The fewer obstacles there are between prospects and the true appeal of your home, the better.

3)      Here’s your chance to clean up in real estate! When selling, make sure the bathroom, living room, and kitchen of your home are thoroughly cleaned for prospective buyers. Also, consider some minor redecorations including enhancing faded paint or scuffed woodwork. Fresh wallpaper can add charm and value to your property.

4)      If you’re concerned about time, hire professionals (cleaners, painters, etc.) to get your house ready! Remember, prospects would rather see how great your home really looks instead of how great it could look.

5)      As a homeowner, it is easier to become accustomed to all kinds of self-set booby traps; roller blades on the stairs, obvious extension cords, slippery throw rugs, low hanging lights, pet bowls, etc. Clear the areas and make your residence as non-perilous as possible.

6)      Remember, potential buyers are not only concerned with living space -- they are typically also looking for storage space, too. Make sure all storage areas look tidy, clean and free of unnecessary items.

7)      Bathrooms and kitchens sell homes. So make them sparkle and shine! Display nice towels, mats, and shower curtains in the baths. It makes a world of difference! Also, make sure to check for any leaks and water stains.

8)      Believe it or not, it’s the cozy factor in your bedrooms that help reel in your prospects. To really enhance this space, remove the excess furniture and add colorful bedspreads and fresh curtains.

9)      If possible, try to avoid being present during your house showings. This can benefit you tremendously! Potential buyers often feel like intruders when they enter a home filled with people. Rather than giving your home the attention it deserves, they’re likely to hurry through it.

10)  As we all know, pets have a special talent for making their own impression. If possible, try to keep your pets outside or at least out of the way. This can greatly improve your chances that prospects will give your home the attention it deserves. Also, become more sensitive to your pet’s odors. Litter boxes and feeding bowls should be cleaned frequently and kept out of the flow of traffic through your home.

Milke McGavisk
Keller Williams Realty
56 Main Street, #101
Newark, DE  19702 

mikerealtor@kw.com

www.yourroadhome.com

302-838-7229 


Posted by Rich Lombari on April 18th, 2007 6:25 PMPost a Comment (0)

Buying A Luxury Home: How to Find The Right One (Part 3 of 4)
April 17th, 2007 9:33 AM

Now that you have given some thought to acquiring a luxury home, and have made your list of “must haves” and “like to haves,” or at least given it more than a passing thought, you are probably ready to start the search process.

There are a number of ways to go about this, depending on your preferences and what you re looking for – some are more efficient than others. And at this point you might also give some thought to your time frame. Depending on your requirements and the inventory, finding the right home can take many months, or more than a year, especially if you have an interest in a particularly exclusive enclave, or a certain estate that is rumored to be coming on the market in the future. And if your plan is to build a luxury home, design time and permitting alone can take a couple of years, with the actual building of such a home (due to complex construction, specialized materials, the use of artisans and craftspeople, importing of stone and wood, and more) perhaps several years in the making. But it may be worth it.

· The Internet – maximum efficiency here, and most buyers use the Internet to search for homes, and luxury buyers are no exception. While not all luxury homes that are available are on the MLS and other sites, most will be. There are also a number of websites that focus on the luxury niche, including DuPont Registry; Sothebys; Christies; Unique Homes; Luxury Real Estate; Unique Global Estates; Dream Homes (California only).

· Real Estate Publications – the companies that have websites listed above also have glitzy magazines showcasing luxury homes for sale locally, regionally, nationally or internationally. There may also be some publications that do not have an on-line presence, although that would be unusual in this day and age. Since publications often have a several month delay from the date ads are due until printing, you will find that some properties will no longer be available by the time you see the magazine.

· Newspapers – a number of well known newspapers list high-end homes and estates that may meet your requirements (check to see if they also offer websites or blogs). These include the NY Times (Sunday real estate section), The Wall Street Journal, The LA Times, The Chicago Tribune, and similar papers in our major cities.

· Networking – you have a circle of friends and business associates, and they, too, can be a source of leads on homes, provided you are comfortable sharing your search and the details with them. Some luxury properties are never sold on the public market, so people in the know may be the best way to learn of a pending estate, ranch or penthouse that so and so in thinking of selling. You can network at your country club, your athletic club, the yacht club, or wherever else you are likely to be able to interact with people who might know of properties in the luxury market. Bankers and attorneys often know of high-end homes that may become available but are not in the public eye.

· Driving around – some people enjoy touring the neighborhoods that are of interest to gain a feel for the area, and to target homes that are for sale or streets that appeal to them. Some communities, condo complexes, and gated communities do not allow signage, and obviously you may not have access in a private association.

I suggest being prepared for viewing homes by getting pre-approved (if you decide to finance rather than pay cash) or having a letter from your private banker regarding your financial qualifications. Owners of luxury homes and estates will often request documentation of financial ability before opening their home to a prospective buyer and agent; this seems to be more common in the $8 - $10 million range and beyond, but may be at the whim of the seller and the listing agent.

If you prefer to remain anonymous as the buyer, or will have a representative involved in the search, I encourage you to discuss this with your REALTORÒ. You might also keep in mind that a well-known, famous, or celebrity name, if made public, can impact your ability to negotiate fairly with the seller. The next article will focus on working with an agent in your search.

Good luck! Please feel free to request my assistance if I can help in any way, or answer any questions about the market.

Since I handle the San Diego market, if the luxury areas of La Jolla, Del Mar, Rancho Santa Fe, and Coronado are of interest and you would like a list of the available properties, I will be happy to provide that if you share your desired price range and some general requirements. I also have a great network of luxury property agents around the country, so if I can assist you in finding the right person to help in the community of your choice, do let me know.

Jeff Dowler, ABR, CRS, e-PRO, SRES, Ph.D., REALTOR

RE/MAX Associates – Encinitas, CA

(760) 840-1360 direct (877) 845-3178 (toll free)

Mailto:JDowler@remax.net

www.SoldOnCoastalLiving.com

www.RelocationAtoZ.com

www.FansOfCoastalSanDiego.com

Serving the coastal communities of San Diego including La Jolla, Del Mar, Solana Beach, Encinitas, Cardiff, Rancho Santa Fe and Carlsbad


Posted by Rich Lombari on April 17th, 2007 9:33 AMPost a Comment (0)

Buying A Luxury Home: What To Buy (Part 2 of 4)
April 12th, 2007 7:48 AM

In my first article in this series my focus was on the motivation behind your luxury home purchase. Now it’s time to center ourselves a bit more on what to look for. I am not, in any way, suggesting that everyone has the same set of criteria in their luxury home search. Clearly every buyer is unique, and has his or her own set of need-to-haves and boy-would-I-like that’s. So put that aside.

What I am referring to, however, are the issues you should consider as you ponder what to buy, as an educated consumer. After all, I can’t tell you what amenities you should have, or what location is the most desirable…those are for you to decide. The obvious benefit to you is that the clearer you are in specifying what you want to buy, the more effective the process is likely to be.

  1. Financial – the financials are important to consider no matter what your budget and available cash. No one wants to pay more than necessary to get the house they desire, and making the right financial decision, in terms of how much you spend and in what form (cash vs. some form of financing), or even how you take ownership (private individual, trust, corporate entity) is important. The amount you want to spend, or can spend, obviously sets the bar on what you purchase, unless you can say “I can afford and will spend whatever I need to.” Investigate whether paying all cash makes sense vs. doing some sort of financing – the tax advantages could be worth more than some of your current investments, making an all-cash purchase a less prudent financial decision.
  2. Location – not a simple matter for most buyers. If you have your heart set on a particular community, say Bel-Air, or a gated enclave within a certain community, then you are set. But if you are open to options, consider your motivation again – is a beach-front estate what you are seeking? A view property high in the hills that affords maximum privacy? A penthouse in a new tower in the city near restaurants, museums and the theater? How about access to the airport if you travel a great deal?
  3. Creation vs. New construction vs. Resale vs. Tear-down – is creating the luxury home of your dreams with an architect what you are seeking? How about brand new high-end custom construction? Are you OK with a resale provided it is turnkey and suits your taste, or does not need too much work and you can bring in your own contractors and designers before moving in? Or do you have your eye on a magnificent plot of land with a tear down that you can redo (keep in mind local permits and restrictions can get in the way and delay your plans). Are you willing to consider a home that you can add on to get the space you want?
  4. The Basics – things like size, single story or more, number of bedrooms and baths, garage, lot size, formal and informal living and dining rooms, master bedroom with sitting room, separate baths and dressing areas, living and entertainment spaces such as offices, a library, and media room. You get the idea. Consider your lifestyle and how you plan to use the home – lots of family, occasional visits, use by corporate clients, and so on.
  5. Amenities and finishes – this list can be lengthy, and due to unique desires by each buyer, I won’t pretend that I can capture all you should consider. Amenities such as wine cellars, storage for furs, in-home safes, heated garages, guest houses, quarters for live-in staff, separate spa facilities, fully-applianced outdoor kitchens, tennis courts, pools, outbuildings for cattle and horses, storage for a private plane, and dockage for a yacht or large sailboat are just a few things that may interest you. How about security systems? Lighting? Computer controlled irrigation/lighting/drapes/sunscreens/HVAC systems?
  6. Timing – what is your time frame? How long are you willing to wait for the right home (some high end home buyers take several years before they find what they want, or until a certain home comes on the market)?

You might also think about any trade-offs you are willing to entertain, if you need or want to. Will you buy a less than perfect house on the killer waterfront lot? Is the only available gated estate in the enclave you wish smaller than what you would prefer but something you will accept? Does the custom home you want lack some of the amenities you really desire and can you add them? Or, bottom line, would you simply prefer to build a custom home that YOU design with an architect so you get everything you want, even if it takes several years to complete?

Finally, as part of the process, you might seek counsel from your financial adviser, your accountant, and your attorney in case there are other considerations that might affect what you purchase, how you purchase, and the form of ownership. If you are purchasing in another state you will want o be sure to understand the implications of ownership with regard to taxes and related matters.

The next article will detail the search process itself and the many possibilities for find the homes of your dreams.

Jeff Dowler, ABR, CRS, e-PRO, SRES, Ph.D., REALTOR

RE/MAX Associates – Encinitas, CA

(760) 840-1360 direct (877) 845-3178 (toll free)

Mailto:JDowler@remax.net

www.SoldOnCoastalLiving.com

www.RelocationAtoZ.com

www.FansOfCoastalSanDiego.com

Serving the coastal communities of San Diego including La Jolla, Del Mar, Solana Beach, Encinitas, Cardiff, Rancho Santa Fe and Carlsbad


Posted by Rich Lombari on April 12th, 2007 7:48 AMPost a Comment (0)

Luxury Home Market Trends
April 12th, 2007 7:21 AM
The luxury home market is in the process of taking some great twists and turns in 2007.
According to the California Association of Realtors, in 2006 over 87% of the buyers used the internet to research homes before they started looking for their specific home.  The other 14% used the internet after they started looking for a specific home.
 
It used to be that the traditiional buyer bought a home within 25 miles of their current home, but in 2006, due to the fact that so many affluent buyers work from their homes and can live where they choose, the average buyer bought a home within 242 miles of their current home.  Quite a change from the past.
 
Luxury home buyers are looking for homes with open living space, no formal dining rooms and no formal living areas.  Instead, they are seaching for homes with expansive eating areas off the kitchen with space enough to put an 8 by 8 square dining table to seat 12.  They are looking for cappucino machines in the master bathroom and a park like setting off the master bedroom so that they have the feel of peace and serenity when they awake.
 
Wine cellars have gone the way of large wine tasting rooms, expansive enough to host parties, and swimming pools that begin in the master bedroom and extend to the back yard.  The outside cabana and outdoor kitchen are becoming more elegant than the indoor kitchen, with luxurious rugs and extensive lighting. There is also a trend toward using new wallpaper accents and less faux painting.
 
Some luxury home buyers are having their own small hills and streams installed in their back yards so they have the feel of looking at mountains and water features.
 
The luxury home market is still thriving across the country and new ideas are coming forth every month that excite the luxury home buyer and add new ways to change the look of their homes.
 
Mary Taylor
Senior Executive Listing Specialist,
The TaylorMade Team
Southlake, Texas
www.TheTaylorMadeTeam.com
817-430-MARY
Specialists in Luxury Homes

Posted by Rich Lombari on April 12th, 2007 7:21 AMPost a Comment (0)

Realtor Reminisces Celebrity Clients
April 9th, 2007 9:24 PM
It was 18 years ago (1989), when I received the call from Ron Howard’s assistant that she needed a nice, furnished lakefront house for Ron, Cheryl, and their four children while a movie, entitled “Parenthood”, was filmed in the Orlando area.

I had such a house, and Ron asked me to use my camcorder to take video of the interior. Now, that was interesting! Me making for a film for one of the best! Ron said my photography was very good, but I think he was being kind.

The entire Howard Family are wonderful people, and so it was a delight to help them.  Whether they are the Howard’s of Hollywood or the Smiths of Kalamazoo, SERVICE is the #1 priority to me in our business.  I was attentive to the Howard’s needs and even possible needs, and thus I was able to arrange for many things the Howard Family appreciated. You know though, good things come back to you one way or another, and with them, it was simply a great pleasure to assist. For example, at the time that Ron and Cheryl came to Orlando, two of their 4 children were preschoolers, and I helped enroll them into Foundations in Winter Garden, Fl., located at The First Baptist Church. Both Ron and Cheryl were impressed with Foundations.

I was not only invited to the cast rap party where I sat at the same table with Mary Steenburgen, but met Steve Martin, who was surprisingly very quiet. The day the Howard Family left Windermere, FL, I received the most beautiful arrangement of flowers from them.  Delightfully, the eventual news was that “Parenthood” was a raving success with Oscars in the scenario.

One of my favorite clients was the late Jim Henson. Jim was a reserved gentleman, very polite, and apologized unfailingly whenever he wanted to view a property for a second time. I sold Jim a very quaint house on the same street I live, on Lake Down of the pristine Butler Chain of Twelve Lakes.  Jim was in the process of establishing Floridian residency, getting a new boat, and personalizing the house when I learned that he had passed away, unexpectedly and suddenly from pneumonia.  This was a terrible shock to all who knew him, but his wonderful humor comforted so many! Jim and I had talked about Ms. Piggy and Kermit living in the Guest House on his property, and how he would become involved in the community for the children of Windermere. I was invited to his Memorial Service held in NYC, and my daughter-in-law, Veronica, accompanied me. We flew up for the service, and back home the same day. It was a beautiful service, and no one wore black. It was a reassuringly festive time, just as Jim would have wanted it. The family still owns the house, and I think of Jim every time I go by there.

Until a few years ago, I owned what was The Gotha Country Store, which is a historical building in the community of Gotha, just northeast of Windermere. I was approached often for filming at the GCS, and fun times were always in abundance.

I found temporary homes for many of the stars, and when John Goodman walked into my office, he looked just like he did on the Roseanne Show. Roy Schneider was another great gentleman, too, whom you will probably recall from “Jaws”.

One of my funniest experiences was when we used a client’s property for Britney Spears’ shoot for Rolling Stones. When I told my property owner who would be in the “shoot”, he asked me, “Who is Britney Spears, anyway?” Too funny. We used that same property for many “shoots”, including one for a CD by Lenny Kravitz, and one for a film with Gwen Verdon, whom my client sure knew! Gwen has passed away now, but she was formally married to the great Broadway Producer, Bob Fosse, and she was a superb dancer. Today that same property that I SOLD is the future home of one of our area’s great athletes.

I consider all of my clients stars in their own right. I have met some great, some famous, and hundreds of wonderful people in Windermere in 35 years, and through thinking service first, so many have become my good friends.

And in that, I am blessed.

Suzi Karr

Suzi Karr

SUZI KARR REALTY, INC.

527 Main Street-POB 667

Windermere, FL 34786

1-800-226-KARR

www.suzikarr.com

“TWENTY-EIGHT YEARS IN BEAUTIFUL DOWNTOWN WINDERMERE, FLORIDA GIVING THE KIND OF SERVICE YOU DESERVE”…….

 


Posted by Rich Lombari on April 9th, 2007 9:24 PMPost a Comment (0)

Stage it-Market it-Sell it!!
April 9th, 2007 7:19 PM

Staging is preparing a property for sale to meet two goals, a faster sale and a greater ROI-Return on Investment. Staging has taken on a life of it’s own over the last several years. Staging is now much more involved than simply cleaning and organizing. Today’s markets are changing, making it even more important now than ever to have the properties staged by a credible Staging Professional. Staging properties by following proven concepts will provide top dollar for the property. Properties that are staged in real estate provide maximum results. Results are obtained by educating the client and real estate professionals on what needs to be done to the property to differentiate between mediocre and maximum results. Mentally moving the homeowners from living in the home to marketing the home is the First Key to Success.

You can find a Professional Staging Consultant in your area http://www.propertystagingconsultants.com/



Staging Your Home For Sale - Is It Worth The Investment?

Here are Ten Secrets to Home Selling:

1. Freshen up the home by painting walls a light, neutral color, such as antique white.
Lighter colors appeal to a wider range of buyers and make each room look larger.

  1. Take a close look at the floor coverings in each room. If you have hardwood floors under the carpet, you will always make money by removing it, even if the floor is not in perfect condition.
  2. Allow as much light as possible to enter the room. Open up or remove all draperies, blinds, shades or other window coverings.
  3. Removing the clutter of everyday life - all utilitarian items, stacks of paperworks, toiletries, kitchen utensils, electronic equipment and television sets.
  4. Remove furniture from each room that does not go with the decor, such as items that
    stand out too much, and items that are worn or of an unappealing color.
  5. Place the remaining room furnishings in a way that makes best use of the character of the space. A room should be balanced so that people do not focus on one particular piece of furniture.
  6. Now that you've removed the clutter from your home, adding some nice but inexpensive accessories will greatly elevate the perceived value of the home.
  7. Clean, clean, clean. Every crevice within the home should be spotless and gleaming.
    Even your normal weekly cleaning will not come close to the quality of clean you need.
  8. You can't over spend on fresh plants and orchids, elaborate floral arrangements and
    landscape plants. All these provide a strong addition to the ambience you want to create.
  9. Go on vacation! The houses that sell for much higher prices are homes that do not have the slightly disheveled look which comes with showering in the morning and cooking dinner in the evening. Being gone also will lower your level of stress and make the house easier to sell.
    Think of it this way: Your vacation will actually make you MONEY!

Teresa Franco

Keller Williams Realty
Amarillo, TX 79121
teresa@amarillodreamhomes.com

www.amarillodreamhomes.com

 


Posted by Rich Lombari on April 9th, 2007 7:19 PMPost a Comment (0)

Hotel/Condo Concept Q&A
April 9th, 2007 7:09 PM

 

I’ve been asked a lot lately about the hotel/condo concept that has been flourishing in Chicago. What is it and how does it work?

  1. What is a hotel/condo? It’s a unit owned by many buyers, used by the owner minimally, and rented to visitors just like a hotel. It is available for rent through the building’s or let’s say the hotel’s management company exactly as you would rent a hotel.

  1. Is it like a timeshare? Not in ownership, but similar in usage. It is NOT a timeshare where an owner owns only time. In a hotel/condo an owner DOES own the property, but simply aggress to rent it out and is used minimally by the owner. Each property varies on the amount of time allotted to the owner for personal use.

  1. How much do I get when the unit is rented? All of the properties, offer different splits. There will be an agreement before the purchase outlining the rental split. Keep in mind, there is NO guarantee on the amount of days the unit WILL be rented.

  1. What is the difference between a hotel/condo residence and hotel condo/rental unit? In a hotel/condo RESIDENCE an owner lives in the unit, is never available for rent to hotel guests, has full use of all hotel’s amenities, and is decorated per the owner. A rental unit is used minimally by the owner, does have full use of all amenities as well, but is decorated by the hotel with no owner input.

  1. Can anyone buy? Yes, typically a 20% down payment is required and often one point or more on the mortgage will be charged as the property is seen as higher risk by lenders.

  1. What is the appreciation? It’s thought that there will be great appreciation as the hotels are generally affiliated with internationally known brands (Ritz Carlton, Four Seasons, etc.), situated ideal locations in the city, and a limited commodity. However, it is a newer concept across the country.

For further information about Chicago’s hotel/condo buildings that are under construction or newly being converted from an existing owned or rental building, call me for additional details on Chicago’s developments and availability! Be one of the first to own a hotel/condo where you don’t have the hassles of being a full-time, on-call landlord!

Jennifer M. Lane

Realtor, Consultant

76 N. Michigan Ave, Suite 3010, Chicago, IL 60611

c 773.315.9507

f 312.981.5501

w www.JenMLane.com

e JenMLane@kw.com


Posted by Rich Lombari on April 9th, 2007 7:09 PMPost a Comment (0)

The Luxury 2nd Home Market
April 9th, 2007 7:01 PM

The north valley of Phoenix is a major 2nd home market. It’s interesting to see how markets change over the years. 2nd homes used to be for personal and social use. In 2002 I sold a home in Anthem Country Club for $475,000 that would now be $700,000 plus. This home was the perfect bachelor pad. TV’s in EVERY room, expensive art, pool table, well stocked kitchen and bar, heated pool (yes the water gets cold in Arizona) with built in seating to watch the game on TV, heated spa, on the golf course, the list goes on. The home was used for the “golf buddies”. When just the gas bill to heat the pool went to $600 for one month, the wife said “sell it”. And we did in less than 20 days.

Now I’m renting out these 2nd homes as owners want to recoup some expenses. Unfortunately, everybody had the same idea at the same time so the rental prices are quite competitive and exceptionally good deals for someone wanting to come stay for 6 months and enjoy club amenities.

The pendulum always swings both ways so get ready for when it comes back.

Gail Johnson, CRS, ePRO, MRE

Associate Broker

RE/MAX Achievers

www.TheSkysTheLimitTeam.com

email: Gail@TheSkysTheLimitTeam.com

Direct 602-524-3836


Posted by Rich Lombari on April 9th, 2007 7:01 PMPost a Comment (0)

ROMANCING THE HOME
April 9th, 2007 6:58 PM
In a competitive housing market, how do you prepare your home to elicit an "I LOVE it!" response from buyers who are touring many properties?  How do you make them fall in love with your home?
 
The first step to an irresistible home involves the minimalist approach of "de-personalizing" so that buyers can respond to the essential features of the house without being distracted by evidence of your ownership.  Personal memorabilia such as family photographs, awards and trophies, collectibles and pieces of much-loved but mismatched antique furniture must be placed in storage.
 
Decorate your home for showing as if the buyers were esteemed guests.  Place your best tablecloth and a fresh floral centerpiece on your dining room table.  Adorn the beds with your most elegant linens and refresh bathrooms.  Build a fire in the fireplace and play soft music.
Collaborate with a real estate agent you trust to get your home ready for its date with the new owner!
 
If you have any further questions concerning the Houston/Galveston, Texas market, please call me at 281-224-7800 or email me at: Deborah@DeborahWinters.com   You can also visit my website anytime at: www.DeborahWinters.com, or www.MonteBEstates.com .

Posted by Rich Lombari on April 9th, 2007 6:58 PMPost a Comment (0)

Popular Luxury Home Features
April 9th, 2007 6:56 PM

In our current market place, buyers are very particular in what they desire in their purchase and often times are not willing to settle for less.  The kitchen is generally a focal point for most buyers, even if they aren’t accustomed to cooking very much, they still want to have a fabulously large and impressive kitchen.   I believe that the reason for this is that the kitchen is generally the focal point for socializing, be it with friends for a social gathering or just with family to catch up with each other’s activities.  A top of the line set of appliances are also features that can sway someone’s attraction to one home over another.  

The master bedroom and bath have always been a point of attraction or detraction depending on its size and the quality of the finish work in each area.  Large showers and elegant fixtures seem to be a real draw to most clients looking to purchase.  

In the past few years a new trend has emerged with fabulous outdoor living spaces being designed in or added to many of the homes.  The most recent statistic from the U.S. Census Bureau show that Americans spent $150 billion dollars in 2005 on home remodeling and one-third of those dollars went to outdoor living areas. Adding well-designed spaces outside can also add value to your home.  According to a survey of home builders, a patio or deck is one of the top three features most often requested by buyers purchasing new homes.  

In Austin’s warmer climate it is not uncommon to find families creating outdoor living spaces that sometimes copy their interior living spaces.  The trend to have an outdoor fireplace somewhere near the swimming pool and spa has become fairly common with more and more homes featuring this element in their outdoor living space.  Even though the fireplace may not be used that much in our warmer climate, it is such a cozy spot to gather around for relaxing and good conversation.

Posted By:

Dee Shultz

Keller Williams Realty, Austin, Texas

Phone: 512-330-1031

E-mail: deeshultz@kw.com

Website: www.deeshultz.com


Posted by Rich Lombari on April 9th, 2007 6:56 PMPost a Comment (0)

Buying a Luxury Home – Your Motivation (Part 1 of 4)
April 9th, 2007 6:45 PM

So you are in the market for a luxury home. Perhaps it’s your first, or you may already own one and want to move up. Or add to your real estate holdings.

The reasons for buying a luxury property are perhaps as varied as the amenities buyers seek in their homes. And you may already have a clearly defined reason or set of reasons for why you want such a property. As a consumer, just as with any product or service, it is important to understand the reasons for the purchase, and what purpose(s) the purchase will serve. Whether you are planning to spend just a couple of million, or $30 million, knowing more about the motivation for your purchase will enable you to be more effective in the buying process. And those reasons will, in many cases, further define the parameters of the purchase itself – the price, location, amenities, size, and condition, to name a few..

From my experience, and in talking with luxury home buyers and owners, there are some common motivations behind such a purchase, and buyers tend to fall into one than one category:

  • Buying a primary home – the place you plan to live fulltime, or most of the time. So it must provide you with the comforts and amenities that meet your needs (whether single, as couple, partners, or a family). It’s your home base, the starting point of relaxation, as escape from work (or perhaps where you will work), a place that enables you to live your life however you wish, a place that gives you piece of mind
  • A vacation home - a second, or third, “home away from home” where you can enjoy time with family away from work, in a location that appeals to your sense of “getting away,” – the beach, the mountains, the city. Some place that is different from where you live most of the time, and which offers you an alternative lifestyle from the day to day; a place to pamper yourself
  • Defining a lifestyle – it could be a place that says “I’ve arrived,” that reflects your accomplishments, that allows you to live in a particular desirable neighborhood, or near certain people whose interests are similar to yours. Perhaps having the largest or most opulent home IS important to you, or creating a home from the ground up. Or maybe your privacy and security are of paramount importance.
  • Creating or adding to wealth – homeownership is one of the best ways to do this, and the goal may simply be to acquire a property that will add to your financial portfolio. The property may not have much personal meaning, but it contributes to your wealth (currently, or will in the future) by virtue of location and appreciation potential. The tax advantages of owning a home may be part of your motivation as well, or a place to invest a large quantity of cash with a good return
  • A way to indulge a particular hobby - perhaps owning a beach home where you can surf or sail; a winery; a lodge for hunting and fishing; a ranch for raising cattle or racehorses; a property with an airfield for flying; a home for your art or antique collections
  • A corporate property – a place to entertain business associates and potential clients, or run corporate events for your company; a place to use for your business while traveling away from your corporate offices.

Whatever your reasons, your personal motivation is something to consider as you begin the process of finding the right luxury home. Knowing the reasons will better define the “what” – location, style, size, condition, amenities – so you will accomplish your goal and not waste valuable time looking at properties that do not meet your requirements. The next article in this series will focus more specifically on amenities and defining what you are looking for in your luxury home search.

Jeff Dowler, ABR, CRS, e-PRO, SRES, Ph.D., REALTOR

RE/MAX Associates – Encinitas, CA

(760) 840-1360 direct (877) 845-3178 (toll free)

JDowler@remax.net

www.SoldOnCoastalLiving.com

www.RelocationAtoZ.com

www.FansOfCoastalSanDiego.com

Serving the coastal communities of San Diego including La Jolla, Del Mar, Solana Beach, Encinitas, Cardiff, Rancho Santa Fe and Carlsbad


Posted by Rich Lombari on April 9th, 2007 6:45 PMPost a Comment (0)

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