Luxury Real Estate

Michael Edlen of Coldwell Banker in Pacific Palisades, California has listed the architecturally signifcant home known as the Casa Miraflores Estate located on famed Amalfi Drive in Pacific Palisades. This sought after estate was designed by the world renowned architect Richard Landry. Mr. Landry worked closely with the interior designer, Lorna Auerbach, to create a worldly estate with Andalusian and Moorish architectural elements and touches throughout. The home has been featured in Architectural Digest and has received several awards including 2 Gold Nugget awards bestowed by the Pacific Coast Builders Conference. The 10,000 square foot home is sited on a 26,000 square foot corner lot with 6 bedroom suites with 6 full baths and is available for sale priced at $14,000,000. The listing is shared by fellow Who's Who in Luxury Real Estate members Joyce Rey and Debra Smalley.

Courtesy of Kenn Hall of Fannie Hillman + Associates

WINTER PARK, FL---Fifty one years ago a bright-eyed 18-year-old freshman at the University of Georgia was ready to begin preparing for a career in business when she says she was told there was “no place in the business world for a woman.”

Nancy Shea Bagby wasn’t discouraged. Although her career aspirations didn’t go south, she did. She transferred to the University of Florida, earned a bachelor’s degree in education, taught at elementary schools in Miami and Atlanta, was an assistant photo editor with LIFE magazine in New York, served as a flight attendant with Delta Airlines, and raised two daughters along the way.

And she was just getting started.

A Winter Park-Maitland resident since 1972, Bagby “waited until her children were out of school” and decided to go back to school and earn her master’s degree in business and finance at Rollins College. Although she never completed her degree, she did wind up mastering a career in another field---real estate.

Mastered might be an understatement. Since joining Winter Park’s Fannie Hillman + Associates in 1985, she has sold and closed over $480 million in residential real estate which pencils out to around $19 million a year. Last year, in a challenging economy, she led all company sales agents with sales of $16.6 million, and this year posted a 25-year career-best first quarter of over $9.2 million.

Not bad for someone who decided nearly 26 years ago to start a career in real estate “almost as a lark” and has been Fannie Hillman’s top producer for the past two and a half decades.

“Nancy is a very special person with a very special talent who knows the Winter Park/Maitland area as well, if not better, than anybody else in this business,” says Scott Hillman, president of the

successful, 30-year-old independent firm. “In fact, Nancy has handled more lakefront transactions than any other agent in the Winter Park/Maitland area since 1985.”

And she shows no signs of slowing down either. Now a grandmother with a daughter, son-in-law and three grandchildren in Seattle, WA, and another married daughter with two children in nearby Maitland, Bagby thoroughly enjoys what she’s doing.

“I love the business I’m in and the people I work with,” explains Bagby, whose sister is a Realtor in Palm Coast, Florida, and two brothers who are developers in Jacksonville, Florida. “I wouldn’t

think of doing anything else or being anywhere else. We have a very close knit office where people work in tremendous harmony. We all take a great deal of pride in what everyone else in the office is doing.”

A team player first, Bagby, works “primarily by referral” and attributes much of her success to “a wonderful repeat business” and her team of Sue Ann Rand and daughter Julie Bagby Williams. Sue Ann, a licensed Realtor and broker “has been an invaluable assistant for the past 17 years and an incredibly gifted person,” said Bagby, while daughter Julie, who holds an MBA from Emory University in Atlanta, “is my people person with a sparkling personality that has served our team well for the past four years.”

Ask those who know and work with Bagby and they’ll tell you she’s also “a people person” with a “down-to-earth, magnetic personality.” Active in the community and a member of numerous civic organizations, Bagby says she’s “extremely interested in helping people” and admits spending a great deal of time consulting with clients and non-clients alike on real estate matters.

“Selling homes is a tremendously emotional business that requires knowing and understanding the individual and his or her needs so that they develop a trust and confidence in you,” Bagby emphasizes. “Right now, I do as much counseling and advising as I do selling.”

And therein lies the key to Bagby’s ability to cultivate a sizeable list of referrals and repeat business.

“I’ve had the good fortune to have had such wonderful clients over the years and am very grateful for their tremendous support,” says Bagby. “They are as much a part of my success as the people I work with.”

Even though Bagby long ago proved there is a place in the business world for a woman, she hasn’t lost her sense of perspective and allowed success to obscure her priorities.

“I have a wonderfully enjoyable and successful career, but in the overall scheme of things my family is number one in my life,” she says.

Real estate certainly has been anything but a disappointing second.

About Fannie Hillman + Associates
A member of the Orlando Regional Realtor Association, Fannie Hillman is listed in Who’s Who in Luxury Real Estate, and maintains a global presence through affiliations with London-based Mayfair International, Luxury Portfolio, and Chicago-based RELOHomeSearch, a website run by Leading Real Estate Companies of the World®, the world’s largest network of premier independent residential real estate firms representing 600 companies with 5,000 offices and 150,000 sales associates in more than 30 countries. Fannie Hillman also has exclusive rights for Residence International in the Central Florida area. Fannie Hillman is located at 205 W. Fairbanks Avenue. For more information call (407) 644-1234 or visit the company’s web site at fanniehillman.com.

Courtesy of Haley Dalton of Harry Norman, REALTORS^®

ATLANTA, GEORGIA - Harry Norman, REALTORS^® released the Spring issue of Harry Norman HOME Magazine on April 27^th, 2011. Harry Norman HOME is the company’s signature magazine published twice a year and distributed to a targeted mailing list of 25,000 home and business owners throughout metro Atlanta, as well as the most reputable luxury real estate brokerage firms across the United States.

Gorgeous professional photography, elegant, sophisticated design and informative narrative accompany each property featured in HOME. This issue features over 100 exceptional luxury homes with a median sales price of more than $2 million throughout Atlanta’s most affluent residential areas, along Georgia’s most beautiful lakes and into the mountains of North Carolina.

Harry Norman HOME Magazine is produced both in the traditional magazine format and in an online format. The online version of the publication, not only provides a more eco-friendly way of viewing many of Harry Norman, REALTORS^® distinctive homes for sale, but also allows consumers nationwide to view this showcase of homes from their own computer. The digizine concept is unique in the sense that the viewer can “virtually” turn the pages of the magazine, flip to any page instantly, and access agents website or property details page with clickable links. Click here to view the online version of Harry Norman HOME.

Since 1930, Harry Norman, REALTORS^® has built its reputation for excellence by providing the best in residential real estate products and services. As Atlanta’s oldest and largest independent real estate firm, Harry Norman, Realtors^® knows real estate and Atlanta.

To receive a complimentary copy of the Spring 2011 Harry Norman HOME Magazine or to view the online version, please visit http://www.harrynorman.com/Home.

About Harry Norman, REALTORS®

Founded in 1930, Harry Norman, REALTORS^® is Atlanta’s oldest and largest residential real estate firm with 23 sales offices, various franchise and satellite offices, and more than 1,000 real estate professionals. Harry Norman, REALTORS^® is a wholly-owned subsidiary of HomeServices of America, Inc., a Berkshire Hathaway affiliate. HomeServices is the second-largest full-service independent residential real estate brokerage firm in the U.S. with 17,000 sales associates spanning 20 states. Harry Norman, REALTORS^® is the exclusive Atlanta affiliate of Christie’s Great Estates and achieves additional international exposure through membership in exclusive real estate networks. More information is available at www.harrynorman.com.

Courtesy of Leibowitz Realty Group

BallenIsles Country Club is a premier, gated, residential community of privacy and prestige nestled in the heart of Florida's Palm Beaches. Here, amidst 1,300 pristine acres, the traditions of America's great private clubs are being carried on in a community of 1500 plus luxurious homes (33 unique neighborhoods ranging from 1,800 square foot patio homes and golf villas to more exclusive areas of spacious estate homes. Prices start at approximately $300,000 and go up to nearly $4 million). Boasting championship golf courses, and unsurpassed amenities. BallenIsles is truly an enviable enclave reserved for its members and their special guests. More than half of the BallenIsles community is comprised of year round residents.

• A Magnificent Trio of Championship Golf Courses
• The Ultimate 72,000 square foot Grand Clubhouse

Courtesy of Kirsty Bryson of Luxury Homes by VAPF

According to an article published in the Spanish national newspaper El Mundo on the 3^rd of April 2011, there has been a notable increase in the number of upmarket properties sold, mainly in the coastal province of Alicante in Spain.

Now that prices have stabilized, the luxury villas segment of the market is experimenting a constant and gradual growth, with requests from both Spanish and foreign customers and with a property portfolio encompassing homes ranging from one million euros to twenty million euros, with between 4 and 15 rooms and 500 to 1000 square meters of floor area. Of course, all have a common characteristic: a fantastic sea view. Most of these luxury properties can be found in the towns of Javea, Moraira, Denia and Altea, situated in the northern Costa Blanca.

Real estate agents who are dedicated to this segment of the property market are seeing their business boom. Their clients are usually business owners, senior executives or athletes who are purchasing a second or third home now that they have regained the confidence to invest in real estate. The average price of the investment is between two and four million euros, generally the customers' own funds, therefore they do not require bank financing.

This type of client seeks an excellent service and prefers to delegate the purchase in a trusted professional to avoid problems. Therefore, developers, builders and real estate agents seeking to move towards this segment should ensure they have all the information necessary to satisfy the demands of this type of client, offering high quality attention both on a personal level as during buying process. Luxury Homes by VAPF has vast experience dealing with the top end of the real estate market and clients can rest assured that they will be dealing with professionals who speak their own language with an exclusive and personalized service that reflects the nature of the company they are dealing with.

Courtesy of Frederick Peters, President of Warburg Realty

Sitting on the plane flying home from London, I am thinking about the ways the British system of selling real estate differs from ours. I met last week with a firm of high end estate agents, who do a significant amount of business in both rentals (or “lettings” as they are known in London) and sales. More than anything else, I am fascinated by the way their system apparently disadvantages buyers AND sellers, because their low commission rates lead to a lack of co-brokerage. (Of course the same thing, minus the low commission rates, can be said about much of Brooklyn.)

In New York City, all Real Estate Board members are required to co-broke their listings with all other Board members within 24 hours of receiving a listing. This leads to an orderly marketplace. In London, by contrast, co-brokerage is voluntary. What that means is that, more often than not, an exclusive agent who has a hot property will keep it within their firm so as not to be required to share the 2% or 2.5% commission. So, as a buyer, unless you happen to be in touch with an agent from that firm, you do not see the listing. Dual agency is not permitted, so if you go directly to the seller’s agent you have no buyer’s representation in your negotiation. And if you want a buyer’s agent, more often than not you have to pay them yourself. Unless you are willing to pay them yourself, or contact the listing agent directly, you simply do not have access to the property.

To me this system seems like the height of inefficiency. The seller has no guarantee that he is receiving the highest and best price for his property, since it is likely that many in the pool of appropriate buyers may never learn about the listing (of course the Internet has alleviated this problem somewhat). Similarly, the buyers cannot select a trusted agent and count on that agent to show them everything, unless those buyers are prepared to pay their agent a fee. And even then, exclusive agents often prefer not to have to deal with another real estate professional.

Our system may not be perfect, but in it I believe everyone wins. Brokers on BOTH sides of the transaction are fairly compensated for making sure their clients, be they buyers or sellers, get the broadest possible market exposure with expert professional advice before making a decision.

You can read more on www.warburgrealty.com/blog.

Courtesy of Ilya Moshenskiy of Ilya’s Photography

Ilya Moshenskiy, the official photographer of LuxuryRealEstate.com events, released a new, advanced version of his website www.ilyaphoto.com today. The new luxury photography website has a more user-friendly design, reflecting Ilya’s professionalism, outgoing personality and focus on customer service.

Ilya’s new website has several sections, which demonstrate his specialty in photographing architecture, products, food and editorials. The website also includes 20 testimonials from a variety of clients, including Luxury RealEstate.com President Meghan Barry and Miami Real Estate Senior Vice President Audrey Ross.

Based in the Seattle area, Ilya’s Photography serves clients across the country and around the world. Ilya has taken thousands of photos for restaurants, real-estate brokers and other business owners. His luxury photography helps them sell their products and services more effectively.

Ilya’s Photography clients can log into the new website to easily access all of their photos for use on their websites, print ads and other places.

The new luxury photography website was designed by Ryan Layne and Ilya’s two sons, Vlad and Alex Moshenskiy. Vlad works at Microsoft, Alex is a freelance marketing specialist, and Ryan is a Web developer.

Come back to Ilya’s website often to see his latest work, which he’ll update frequently. Contact Ilya’s Photography for your luxury photography needs.

Courtesy of Michel Cruz of Rimontgo

Extending down to the waters of the Mediterranean Sea in Alicante, Costa Blanca, El Montgó stands imposing and proud. Its form can be seen from far in the distance, as Blasco Ibáñez said, “like a giant hand separating the towns of Denia and Jávea.” Its impact on the landscape is spectacular, more for its unusual appearance than its 753m height; a solid massif that plunges towards the sea. From its caves and nature to its paths and history, el Montgó forms a living piece of the Costa Blanca.

El Montgó is a symbol of the Marina Alta region, as well as Jávea and Alicante, and has been inhabited since prehistoric times some 30,000 years ago. Over time, Iberians, Romans and Arabs all left their mark, drawn to the mountain’s location and the fact that it was an idyllic place to live. Its popularity has not faltered since, and the foothills of the mountain are dotted with luxury villas that combine the best of Mediterranean lifestyle with the tranquillity of the surrounding area. The town of Caón was named “delight” by the Arabs due to its outstanding views, sea breezes and fresh air.

Today, the mountain attracts those who enjoy nature and hiking, with three officially approved walking paths that cross the national park. One of these paths leads to the famous Cova de l’Aigua (Water Cave), a natural grotto featuring Roman inscriptions at the entrance and paintings by Iberian settlers. At one time, the grotto was used to supply water to the troops of the Roman army, and was later thought to have been used again by the Moors to store water used for irrigation.

The route leading to the top of the Cova del Camell (Camell Cave) is the most difficult of the three, but also probably the most rewarding. An hour and a half of gentle walking leads to the cave and for those with higher fitness levels (not recommended for children or the elderly), a further 90 minutes’ walking takes you to the top of the cave. At the top, 753m high, is the Creueta de Xàbia. The panoramic views enjoyed leading up to this point demonstrate the immensity of the Mediterranean Sea and the jutting peaks of the Alicante mountains that are often overlooked. The majestic splendour of the Sierra de Bernia, the Puig Campana and the Aitana can be appreciated from here. On clear days, you can see all the way to the Gulf of Valencia (as far as Oropesa) and to Ibiza and Formentera; a great reward for those brave enough to complete the entire walk.

The Jávea Tourism Office organises guided visits to El Montgó from March to December. Each walk varies in route and level of difficulty, from slow rambles that take one and a half hours, to the ascent to the Tangó Cave and the top of the Creueta de Xàbia Cave. There is also a nighttime walk of around seven hours.

Rimontgó has a number of houses for sale in El Montgó and the surrounding area, as well as properties that overlook the region.

Courtesy of Frederick Peters, President of Warburg Realty

Throughout the country real estate is beginning to recover. Unevenly, with false starts and disappointments, as the economy strengthens, inventory is being absorbed. Prices are still depressed, time on the market still extends into the multiple months, foreclosures still abound, but the situation now improves a little bit each month.

Against this backdrop of gradual improvement, the behavior of the luxury marketplace in New York, where prices are rising, there are multiple offers on many properties, and absorption is quick - seems all the more exceptional. Why is it happening? None of us know the complete answer, but I have a few ideas:

· We are a confined market. Manhattan is an island, and an island with little construction currently under way. Between the recession and the loss of tax incentives, developers do not have much in the pipeline. The prewar co-ops are, of course, impossible to duplicate. There has been, without exaggeration, NO foreclosure inventory among the Manhattan co-ops. And we have a vicious cycle regarding inventory: owners won’t sell unless they know where they are going, and since so there is so little for sale they cannot find anyplace to go. So they renovate, or hang on. Inventory stays low. And when good new property appears, ten people are waiting to pounce on it. Someone wins, but for the other nine, there is STILL no place to move. So their properties don’t get listed. And so it goes.

· Manhattan is an international financial and business center. In many respects, our market is driven more by global than by national forces. And since finance is our hometown industry, the behavior of the stock market impacts our real estate market more than it does other locations. That said, real estate is still viewed as a separate asset class which does not always move in tandem with the market. We are also seeing, as we did a decade ago, an interest in bricks and mortar as a hedge against volatility with bonds and securities.

· Our condo market is driven by non-US nationals. They come from all over the world, with buyers from Russia, China, Korea, and Brazil currently leading the charge. For them, New York represents both a secure safe haven for their money and a good buy. Paris, London, Moscow, Hong Kong – the real estate in these cities costs more and (at least in London, Paris and Moscow) the economic situation looks less stable. For a variety of reasons, buyers from the Arab world still prefer London.

· New York is awash in cash. For many in the financial world, the last two years were not at all bad. AND many of the Wall Streeters have also seen their Restricted Stock Units from the boom-years earlier in the last decade vest, creating big windfalls. Certain legal specialties, especially those regarding bankruptcy and restructuring, have had several banner years. And merger and acquisitions activity is soaring in 2011.

· Commuting is a tough life with today’s work schedules. The suburbs were conceived based on a 9 to 5 workday, with Mom at home. With Mom and Dad both working high level jobs often stretching from 9 AM till 8 or 9 PM, boarding that train at the end of the evening, and getting home after the kids are already asleep, doesn’t seem so appealing. So even though there are great buys in Westchester, Connecticut, and New Jersey, a lot of New Yorkers want to stay in New York.

What are some other reasons? You tell me – fpeters@warburgrealty.com

Courtesy of Michael McFadden of Luxury Real Estate Vacation Rentals

Resorts West invites Luxury Real Estate members to escape the heat this summer and enjoy the cool, relaxing mountains of Park City, Utah. Guests receive a complimentary fourth night at Silver Star at Park City, a mountain-side community of 2- to 5-bedroom condos, townhomes and cottages nestled on the slopes of Park City Mountain Resort. Enjoy a refreshing swimming pool, on-site café and bike rental shop, spacious plaza with outdoor fire pits, an on-site lift for hiking and biking, and an on-site fitness center.

Less than a half a mile away, the base of Park City Mountain Resort offers kids’ activities, an Alpine Coaster, Zip Line rides, miniature golf, horseback riding and more. Meanwhile, the award-winning Park City Golf Club is just across the street with several world-class courses within less than 20 minutes. Complimentary bus service takes guests to downtown Park City, where boutiques, fine dining and lively street festivals offer something for everyone in the family.

Silver Star accommodations feature beautiful mountain décor, gourmet kitchens with top-of-the-line appliances, private hot tubs, spacious decks, flat-screen TVs and wireless Internet access.