Luxury Real Estate Blog : Archives for May 2008

New LuxuryRealEstate.com member in Maryland!

Fri, 30 May 2008 16:49:00 -0400

By Brian Langhorst

We are very pleased to announce that Hogans Real Estate and Insurance in Chestertown, Maryland is now a member of LuxuryRealEstate.com and Who’s Who in Luxury Real Estate! Hogans Real Estate and Insurance serves the Eastern Shore of Maryland and has been a market leader for more than 50 years. Franklin Hogans is the broker/owner of this esteemed member.

Please view their listings and learn more about them on their profile or at www.hogans.com.

Editor’s Note:
Brian Langhorst is LuxuryRealEstate.com’s Membership Manager. He meets members’ unique needs through the dynamic services LuxuryRealEstate.com provides. It’s always nice to hear about how our network is expanding and assisting new members. Thanks for the update, Brian.

My thoughts on the NAR/DOJ settlement

Fri, 30 May 2008 14:07:00 -0400

By Robert Lockard

I originally planned on writing this blog entry earlier this week on the proposed settlement between the National Association of REALTORS® and the Department of Justice that would allow multiple listing service members to make private MLS information available to non-members. However, immediately after the story broke, plenty of real-estate bloggers came up with all sorts of reactions, positive, negative and neutral. Now I’m having trouble coming up with something to add to their expert opinions. I hope you’ll bear with me.

I’ll start by quoting Malcom Forbes (1919-1990), the father of Steve Forbes, current publisher of Forbes Magazine, “It's so much easier to suggest solutions when you don't know too much about the problem.” My knowledge of the MLS is certainly not as impressive as those who have already voiced their opinions, but I’ll just try to bring my thoughts to the table in an interesting way and you can feel free to correct me if I mistake some details.

It seems to me that this really shouldn’t be that big of a deal. I agree with what Geoff Lewis, Senior Counsel for RE/MAX International, said in Glenn Roberts Jr.’s Inman News article entitled “Blogosphere reacts to proposed NAR/DOJ settlement.” He basically said that a lot of the information that will be opened up to public use by this decision has already been made public through free online sites.

The majority of home buyers start their search for a new home online and so, if you think about it, they’re already finding the homes they’re looking for without needing to log on to websites controlled by MLS members. There’s a lot of free information already available online. For example, buyers don’t have to pay anything to search for luxury properties on LuxuryRealEstate.com, even though they can find more than 55,000 such properties in 100 countries on that site.

It’s advantageous for brokers to share information freely with buyers and sellers because then they can allow the right people to find the properties they’re seeking more quickly. At least that’s what I think.

As Mr. Forbes eloquently pointed out earlier, it’s easy to say what I think, but I might not have the whole picture. The MLS, which I understand is not a completely homogenized collection of listings but a variety of different ones in different formats, is not necessarily a public good. It was created by a private organization to give a competitive advantage to specific professionals, and there might be less of an incentive to provide this service if there are few limits to who can access it.

The Internet age is changing the way we think about many things, including marketing and real estate. But perhaps it’s still true that the more things change, the more they stay the same. Anyway, that’s my contribution to this wonderful exchange of ideas known as the blogosphere.

Editor’s Note:
Robert Lockard is the Public Relations & Media Specialist with LuxuryRealEstate.com. I am Robert. I create all of Luxury Real Estate’s newsletters, write the editorials in LuxuryRealEstate.com Magazine and much more. I welcome your input on this story. The Multiple Listing Service logo above is from: www.nsrealestate.ca/listings4.htm.

Rollie Jordan earns sales volume award for 2008

Wed, 28 May 2008 16:54:00 -0400

By Brian Langhorst

Rollie Jordan of The Kentwood Company at Cherry Creek, Colorado was recently awarded 5th place among all Denver REALTORS® for total sales volume in 2008! This award was presented by the Denver Board of REALTORS® at their annual roundtable awards luncheon.

Rollie is a long-standing member of LuxuryRealEstate.com and Who’s Who in Luxury Real Estate. She has listed many of the landmark listings in the greater Denver Metropolitan area. She is currently one of the listing agents for Greystone Manor in Evergreen, Colo. listed for $24,000,000 USD. This listing is truly one of a kind in the state of Colorado. The listing is set upon 57 acres with seven outbuildings, including an entertainment pavilion.

Editor’s Note:
Brian Langhorst is LuxuryRealEstate.com’s Membership Manager. He meets members’ unique needs through the dynamic services LuxuryRealEstate.com provides. This is wonderful news. Congratulations, Rollie!

U.S. Treasury Secretary optimistic about economy

Wed, 28 May 2008 15:54:00 -0400

By Janice Ridge

Treasury Secretary Henry Paulson in a CNBC interview said that although the U.S. economy has been struggling, we are coming closer to the end of the current credit crisis. He believes progressive signs of credit and market stabilization are evident and the markets are considerably calmer than they were in March.

In defense of the housing industry, speculators and investors bear little responsibility for record high oil prices. In the CNBC interview he stated, “This is not about blame, this is about supply and demand. All the research we have done shows that speculators and investors have had very little impact on this.” Traders and longer-term investors tend to take positions on both sides of oil market transactions, long and short, thus being essentially price receivers rather than price setters.

Do you agree with Mr. Paulson’s assessment of the situation? If the current run-up in oil prices is not the fault of investors then who is to blame or is it even worthwhile to find someone to blame?

Editor’s Note:
As the Director of Membership at LuxuryRealEstate.com, and herself a licensed REALTOR®, Janice Ridge is devoted to coordinating the efforts of all of the LuxuryRealEstate.com Membership and Account Managers, so that each of our members is given superior service. This is definitely a hot topic at the moment because all of our lives are directly affected by credit and fuel problems, which both affect the real-estate market. There might not be an easy answer to the questions raised in this blog entry, but hopefully we can generate some useful discussion and get a variety of perspectives.

Caribbean Islands real estate developments continue to focus on Belize!

Tue, 27 May 2008 13:23:00 -0400

By Jim Walberg

From his blog: Caribbean Islands Real Estate Developments Continues to Focus on Belize!

The Placencia Peninsula, an 11-mile strip of land sandwiched between the Caribbean Sea and the Placencia Lagoon in Belize, has beautiful white sandy beaches and – because of its distance from the reef – it also has “real” surf. The water is clean and clear; the trade winds gentle and cooling.

Remember that Belize has a stirring and lively history beginning in 200 B.C. with the ancient Mayans. In the 17th century Spain settled the country. It then survived war, piracy and slavery until being declared a British colony – British Honduras – in 1871. It gained self-government in 1964, chose the name Belize in 1973 and became an independent member of the British Commonwealth in 1981.

The beaches along the Placencia Peninsula are dotted with small resorts that can easily arrange dive and snorkel trips to the reef, which is about 17 miles away. They can also arrange day trips to many small, idyllic cayes, such as Laughing Bird Caye, a mini-atoll that offers protected snorkeling and swimming, a white sand beach and many cooling palm trees (it even has hammocks!) Laughing Bird Caye is also a favorite camping site for reek kayakers who base their expeditions in Placencia. A hotel can also arrange deep-sea or reef fishing trips, or day sailing on a 57-foot catamaran.

Placencia, along with Ambergris Caye, are now two of the country’s main tourist destinations, and they are also well-visited by Belizeans from across the country on local holidays. You can get a delicious plate heaped with stewed chicken, rice and beans for about $4 USD. There are also several small gift shops, a post office and some night life. Nearby Mango Creek/Independence Village also has a disco and weekend activities.

Another new resort is planned for Belize – The Palmetto Bay Resort at Maya Beach being developed by Dave Bowman and his exceptional team. It is located on Placencia Peninsula it will offer beachfront real estate and Four-Star amenities and will be the first development in the Caribbean designed “green” from inception to completion.

The first phase of the gated resort, which is currently under construction, will be comprised of 36 whole-ownership, luxury beachfront condominiums ranging from approximately 1,100 to 4,500 square feet, each with open views of the Caribbean. (In a perfect world, I would be talking with Dave about offering some of their units as fractionals.) Prices will start in the low $300,000s. The turnkey one- two- and three-bedroom residences are spread through two low-rise buildings. Designer Julieanne Dobson also worked on Francis Ford Coppola’s Turtle Inn in Belize. He is creating the interiors using warm woods and natural stone, vibrant contemporary textiles, and niche-lit Mayan and African-inspired art.

Ownership at Palmetto Bay Resort will include access to fitness facilities, conference rooms with wireless Internet; 24-hour reception and security; fully equipped luxury kitchens with gourmet utensils and stainless steel appliances; balcony barbecues; and lush, mature landscaping with use of indigenous fruit trees and plants. The property will feature a 300-foot oceanfront infinity pool, a 400-foot private beach, beach boardwalk, and private dock.

We have been telling you about Belize and the many awesome opportunities for second and third home ownership for months! It is now time to act. Let me know if you are ready!

Editor’s Note:
Jim Walberg is the co-Broker/Owner of The Bay Area Team, the most-successful team at Keller Williams Realty-Danville. He is also a member of the global LuxuryRealEstate.com network. Jim is an experienced blogger, as you can see by visiting his blog, Caribbean Islands Realty. We welcome your blog entries and comments in the LuxuryRealEstate.com Blog.

Celebrities on the move

Fri, 23 May 2008 18:37:00 -0400

By Meghan Barry

It’s not unusual for the members of Who’s Who in Luxury Real Estate to represent high-profile individuals in a real estate transaction – actors, professional athletes, musicians, Fortune 500 CEOs and politicians are frequently on our members’ list of clients. Celebrities often demand the highest level of service, and have the means to afford luxury living.

Country-music superstar Kenny Rogers is selling his $7.9 million Atlanta, Ga. home to live full-time on his 150-acre estate in Athens, Ga., according to a Wall Street Journal article. Although he still tours part of the year, Mr. Rogers is thinking about retiring. “This may be my last year,” he says.

In Newsday, we find that stylist couple Jonathan Adler, judge of “Top Design,” and Simon Doonan, creative director for Barney’s, recently bought a second home on Shelter Island. “We stumbled upon Shelter Island and just instantly fell in love. It’s just so mellow and chill, and there’s something about that five-minute ferry ride, it keeps it all away.”

The Montana ranch of late fashion designer Liz Claiborne sold for close to its $7.5 million asking price, The Wall Street Journal said. About 75 miles north of Missoula, the ranch includes a private lake and a nearly 9,000-square-foot house with indoor pool, guest house, indoor riding arena and a helicopter pad.

Halstead Property represented Joy Behar of ABC’s “The View” in the purchase of a $2.555 million for a two-bedroom co-op apartment in the Astor Court building on Manhattan’s Upper West Side.

Husband-and-wife actors Ted Danson and Mary Steenburgen sold their five-bedroom house in Malibu, Calif. for an undisclosed price – the property was listed for $16.75 million.

Editor’s Note:
Meghan Barry is the Executive Vice President of LuxuryRealEstate.com. She works closely with CEO/Publisher John Brian Losh to organize a variety of Luxury Real Estate programs, events and services. Lifestyles of the rich and famous – that’s the first thing that popped into my head when I read this blog entry. Luxury real estate is definitely a magnet for the wealthy and well-known, so it’s no wonder we find LuxuryRealEstate.com members working closely with big names.

Hotel queen’s $125 million estate listed on LuxuryRealEstate.com

Fri, 23 May 2008 16:09:00 -0400

By Meghan Barry

Currently listed on LuxuryRealEstate.com is the 40-acre estate in Greenwich, Conn. of a certain recently deceased New York City hotel operator and real estate investor known for her flamboyant personality and reputation for tyrannical behavior. It is being represented by David Ogilvy & Associates, Inc.

Editor’s Note:
Meghan Barry is the Executive Vice President of LuxuryRealEstate.com. She works closely with CEO/Publisher John Brian Losh to organize a variety of Luxury Real Estate programs, events and services. This property is currently listed for an amazing price of $125,000,000. Simply incredible.

Perception is reality

Fri, 23 May 2008 11:37:00 -0400

By Scott Rudolph

I have a quick question for you… How do you feel when you see “Price Reduced” signs? They may be a sign of the times… get it? “Sign” of the times. But in my humble opinion they create a perception of desperation. I say, lose the signs for a number of reasons.

First, signs are not as significant a factor in the Internet age – many buyers have already been online and therefore have an abundant amount of information on the properties they’re going to visit. Second, fewer in-your-face reminders of reductions will only help push the thinking from top of mind. What’s the saying? Those who focus all energy on missing the rock in the road are the very ones who hit the rock in the road.

Third, and most importantly, “Reduced” imparts a sense that you are not setting a realistic price in the first place. Do everyone a favor and price the home properly based upon current inventory and market conditions, which in most cases has already been reduced drastically, and let’s move this market (and the world market along with us) forward.

Editor’s Note:
Scott Rudolph is the Director of Business Development for LuxuryRealEstate.com. He works with a variety of luxury-focused companies to expand the LuxuryRealEstate.com influence. So true. If we always focus on what we shouldn’t do we’ll run the risk of forgetting what we should do. Let us think positively and try our best be fair and forward-thinking in our efforts to make it through hard times. The above photo is from the following Web address: www.holisticeducator.com/neurosis.htm.

Six homes for $10 million+

Thu, 22 May 2008 14:43:00 -0400

By Joey Pauley

We are going to start so small the first listing isn't even a home. It is a lot… a lot that spans from the ocean to the bay in Florida. Whoever buys this property needs a pool so they can go swimming. ;-)
www.luxuryrealestate.com/628764

For a little bit less you get just be on the ocean in Hawaii.
www.luxuryrealestate.com/798410

Well what about no ocean, no bay, but a lot of land with a few houses? Then I would go to Savannah, Ga.
www.luxuryrealestate.com/851130

Or a mountain – then I would go to Whistler, Vancouver, B.C.
www.luxuryrealestate.com/90793

But why not something in the Arizona desert?
www.luxuryrealestate.com/705804

No way. I need water and lots of it, like an island.
www.luxuryrealestate.com/809541

Yes, an island would be good…

Editor’s Note:
As a Technical Account Manager with LuxuryRealEstate.com, Joey Pauley helps members with their Web and technology needs. He does a phenomenal job in all of his projects, as you can see by visiting the many websites he has helped design. Simple and cool – that’s what I like about Joey’s blog entry this week.

Real Living named most promising new national brand

Thu, 22 May 2008 12:12:00 -0400

By Brian Langhorst

The Swanepoel Trends Report for 2008 recently named Real Living, Inc. “The Most Promising New National Brand.”

We are very excited to work closely with Kaira Sturdivant Rouda and the entire Real Living brand. Kaira’s friendly yet hard-working attitude continues to drive this dynamic brand. Real Living is our Board of Regents member for the entire state of Ohio. Congratulations to Real Living on yet another notable accomplishment.

Editor’s Note:
Brian Langhorst is LuxuryRealEstate.com’s Membership Manager. He meets members’ unique needs through the dynamic services LuxuryRealEstate.com provides. Real Living certainly deserves all of the praise heaped upon it.