Luxury Real Estate

Courtesy of: Frederick Peters, President of Warburg Realty

I like to say that residential real estate is a relationship business disguised as a transaction business. If you don't build trust with your customers and clients, if they don't feel confident about your knowledge and integrity, you have nothing. Maybe someone will find your listing on line, as they used to find it in the paper. Maybe they will contact you for an appointment, and maybe you will even sell them the property they come to see. But it doesn't happen all that often. To make it in residential brokerage in New York City, which has almost as many licensed agents as it does real estate sale transactions in any given year, agents need repeat business and referrals. The agents who are successful, year after year, are those who have built a reputation for professionalism which translates into referrals. Many of them have so many referrals they cannot handle them all, sharing their business with assistants or junior colleagues learning the ropes.

To earn that trust, there are many things agents have to do. If absolutely necessary, they make beds and clean bathrooms. They sometimes endure the contempt of attorneys and the threats and blame of unhappy would-be buyers and sellers. Their time is wasted because it is "free." And most importantly, they build real relationships, as facilitators of one of the most personal and significant decisions in the lives of their clients.

A colleague and I were recently discussing the unique relationship which exists between the residential agent and his or her client. For a while, we as agents become intimately involved with the lives of those we serve. We know all about their kids, their jobs, their earnings - we have to know the full story to advise them successfully. And usually, along the way, we share some facts about ourselves. We find points of commonality: schools, interests, beliefs, life situations. The relationship becomes quite intense, and it lasts as long as the transaction takes to consummate, which is almost always months and sometimes years. Over this period a bond develops. The agent and the client both seek the bond: it enables them to work together more effectively, to develop a shorthand which expedites the deal and helps to move it across the finish line. Sometimes a real friendship develops.

Then the deal is done. The agent moves on to the next transaction, the buyers to renovate and move into their new home. Speaking for myself, I always want to see how the new place turns out. I like to stay in touch, both because it is good business and because I feel connected to the lives my work has touched. Although the agent/client relationship is intense but (relatively speaking) brief, it is resonant. Agents feel a residual sense of connection to those to whom they have sold property and whose properties they have sold, and we hope they feel it too. We hope it will reach across the years to us when they are ready for another deal, or their friend or relative calls us to say "We need an agent, and so-and-so said you were the one to call."

So are we friends? Sometimes, though not always. But the shared experience connects us long after the deal is done.

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

Courtesy of: Luxury Homes

Spain achieved 621 Blue Flags in 2012: 538 will fly on its beaches and 83 at marinas in addition to the 174 distinctive “Q” of tourist quality that Spanish beaches have attained.

This is the best result up to now for the beaches and marinas in Spain, with 35 more flags than those obtained in 2011.

With the 538 awards for its beaches, Spain maintains the global leadership, followed far behind by Greece (394), France (358), Turkey (352), Portugal (275), Italy (246) and Denmark (234).

The Blue Flag is an annual award and a system of environmental quality certification developed by the FEE (Foundation for Environmental Education) since 1987. It encourages and rewards participation in voluntary environmental initiatives by local authorities, local people and visitors, and tourism officials. The criteria for obtaining the ‘blue flag’ are grouped into four areas: quality of bathing water, environmental education and information, environmental management, and safety, services and facilities.

The Blue Flag is awarded by an international jury chaired by the FEE with the participation of United Nations Agencies for Environment and Tourism, amongst the candidates selected by national juries. The Spanish jury is chaired by ADEAC (Association for Environmental Education and the Consumer) and also involves the autonomous coastal regions, the Federation of Municipalities and Provinces and the associated ministries, foundations and universities.

The Moraig beach at the Cumbre del Sol residential estate (pictured), where the VAPF Group has been developing luxury homes since 1963, features in the Best Beaches Guide for the whole of Spain. This spectacular cove has featured in several films over the years and is famed for its turquoise waters and paradise like appearance.

Courtesy of Staci Caplan and Michael Humphrey - Sterling Properties & Estates - Santa Barbara Luxury Homes and Real Estate

Strolling through downtown Santa Barbara, it’s easy to find yourself whisked away in time thanks to our signature blend of Old World Spanish charm and modern luxury. Santa Barbara is a city with a rich and vibrant Spanish history which shines through to the present. The Spanish Colonial Revival style is well-loved in Santa Barbara and can be enjoyed in the design of our luxury homes, government buildings, and other architectural masterpieces which draw inspiration from our many carefully preserved historic landmarks (especially on the Red Tile Walking Tour). Each year we celebrate our heritage during the Old Spanish Days Fiesta with celebrations of music, dance, cuisine, art, history, culture, and spirit.

Old Spanish Days Fiesta is without a doubt one of Santa Barbara’s most anticipated annual events, alongside the Santa Barbara International Film Festival, the Santa Barbara International Orchid Show, and the Solstice Celebration (just to name a few!). The first Fiesta was held in 1924 to honor Santa Barbara’s Spanish and Mexican heritage and attract summertime visitors. In addition, the first Fiesta celebrated the opening of the Lobero theatre, which continues to be a popular venue for world class artists, musicians and performers. Event organizers met with members of the De la Guerra and Ortega families, whose predecessors had been instrumental in the city’s birth and subsequent development to learn about Spanish customs and history. The first Fiesta parade featured beautiful historical costumes, horse-drawn floats, and marching groups representing the Chumash Indians and the soldiers of Spain and Mexico. Today, the parade includes two sections – one dedicated to accurately portraying and honoring Santa Barbara’s history and one celebrating the community as it exists today.

Old Spanish Days Fiesta is a special time in Santa Barbara, and is always successful in bringing the community together to celebrate the beauty and spirit of our city on the coast. From August 1^st-5^th, 2012 there will be a wide variety of ways to join the Fiesta. Enjoy daily traditional musical and dance performances at the Santa Barbara Courthouse’s sunken gardens, shopping and food at the booths of El Mercado in De la Guerra Plaza, “Casa Cantina” at historic Casa de la Guerra, equestrian shows, parades and so much more! We hope you’re as excited about Santa Barbara’s Old Spanish Days Fiesta as we are – and remember to check back later in the week for our guide to this year’s fabulous festivities!

¡Viva la Fiesta!

Courtesy of: Tara Tahbaz, Publicist, Rodeo Realty

Rodeo Realty Beverly Hills Agent, Josh Flagg holds one of the most sought after trophy estates available in Los Angeles real estate. The longtime Windsor Square residence of Los Angeles Times publisher Norman Chandler and his philanthropist wife Dorothy Buffum Chandler is for sale for $11.25 million. The 9,329-square-foot Beaux Arts estate, located at 455 S. Lorraine Blvd. in Los Angeles, is owned by Joseph Handlerman and Courtney Callahan. Windsor Square is a small, historic neighborhood of about 1,100 residences just east of Hancock Park in the Mid-Wilshire area.

The famed Chandler estate built in 1913, is approximately 10,000 sq. ft. and is nestled on over ¾ of an acre is one of the greatest monumental landmarks of Los Angeles. This estate has been named the Western White House and has hosted many fund raisers in the lavishly appointed music room and even accommodated the stay of several United States Presidents. The estate is a registered Historical Cultural Monument and is a classic example of American Beaux Arts architecture. Designed by the renowned architects, J.Martyn Haenke and William Dodd, both protégés of Julia Morgan of the famed Hearst Castle. This property is listed for sale at $11.25 million, please contact listing agents, for further information. For all media inquiries and interview tour requests please contact Rodeo Realty Publicist.

Rodeo Realty

Rodeo Realty, Inc. was founded in 1986 by president, Syd Leibovitch. Today it is one of the largest single-owned residential real estate company in California. It has 10 branch offices throughout the greater Los Angeles area, and more than 1000 agents. Affiliate companies include: Encore Escrow, L.A. Mortgage, Inc., and Progressive Title.

Courtesy of: Tara Tahbaz, Publicist, Rodeo Realty

Rodeo Realty Beverly Hills Agents, Roger Perry and Robert Erickson hold the listing for one of the most iconic Bel Air homes, owned by glamorous icon, actress and philanthropist, Zsa Zsa Gabor and husband Prince Frederic von Anhal. The upcoming HBO biopic film just finished filming at the Gabor residence, Behind the Candlelabra which is based on the life of the famous pianist and vocalist, Liberace.

The impressive cast stars two-time Academy Award winner Michael Douglas as Lee Liberace; Academy Award winner Matt Damon as Liberace’s personal friend and companion Scott Thorson; Academy Award nominee Dan Aykroyd plays Seymour Heller, Liberace’s long-time manager who disapproved of his relationship with Thorson; Four-time Golden Globe Award nominee Rob Lowe plays the Beverly Hills plastic surgeon who was hired by Liberace to remake Thorson’s face in Liberace’s image; Academy Award nominee Debbie Reynolds will play Liberace’s mother, Frances; Pat Asanti will play the entertainer’s brother, George Liberace.

This private, gated estate is positioned on over one acre with 270-degree, jetliner views from Downtown to the Pacific Ocean and beyond. Boasting over 8,878 square feet, this 6 bedroom/7 bath home radiates warmth and a relaxed elegance. The grand, circular foyer leads you into several areas of the home. Perfect for entertaining, the rooms flow beautifully from the grand salon, to the formal gathering area, to the exquisite dining room that has entertained guests such as Queen Elizabeth, US Presidents, CEO’s, dignitaries and celebrities. The home’s second level is perfect for social engagements, offering a large bar, indoor & outdoor social-gathering areas, informal family room, plus a master-sized guest bed & bath. This property is listed for sale at $14.9 million, please contact listing agents, for further information. For all media inquiries and interview tour requests please contact Rodeo Realty Publicist.

Rodeo Realty

Rodeo Realty, Inc. was founded in 1986 by president, Syd Leibovitch. Today it is one of the largest single-owned residential real estate company in California. It has 10 branch offices throughout the greater Los Angeles area, and more than 1000 agents. Affiliate companies include: Encore Escrow, L.A. Mortgage, Inc., and Progressive Title.

Courtesy of: Mitch Laufer, Sense Consuting

Vanguard properties, one of the fastest growing real estate brokerages in San Francisco, hosted an evening of art and fashion to benefit Habitat for Humanity Greater San Francisco.  The event was sponsored by Vanguard’s Principal, James Nunemacher, and co-chaired by exhibiting artists Erika Burke and Lynn Brei, both agents at Vanguard Properties. The resident artists and fashion designers, all Vanguard Properties agents and/or employees, showcased and sold their works of art and fashion with 30% of the proceeds benefitting Habitat for Humanity Greater San Francisco.

A silent auction was also held during the festivities where 100% of the proceeds from the sale of art and many objects of desire were purchased. Attendees had choices of hotel stays to cosmetic treatments and of course, all art was donated by the artists in residence.

In addition to art, there was also a fashion show orchestrated by yet another Vanguard agent. Jen Fritz, owner/designer of Warrior Within who put together an amazing show using all Vanguard Agents as models with their escorts while showcasing her creations.

Having raised in excess of $10,000.00 For Habitat for Humanity Greater San Francisco, the successful evening is the first of what Vanguard plans to make an annual fund raising event.

Courtesy of: Michel Cruz, Rimontgo

New scientific tests have revealed that rudimentary cave paintings in some Spanish caves are much older than at first thought and may even date back 40,800 years, the point at which man first moved from Africa into the area that we now know as Europe. The paintings are so old – 15,000 years more ancient than previously thought - that some have proposed that they might have been created by Neanderthals; although this suggestion has sparked a heated debate among experts.

The oldest painting is a red sphere discovered in El Castillo cave in Cantabria, while another 25 handprints in other caves are reckoned to be 37,300 years old. In order to arrive at these conclusions, scientists measured the decay in uranium atoms, rather than employing the more typical process of carbon dating.

Spain’s cave paintings had already gained fame around the world (in 1985 the Altamira caves were declared a UNESCO World Heritage site), but this exciting news means that the country’s prehistoric heritage is thousands of years older even than France’s famous cave art in Lascaux and Chauvet, the latter of which is believed to date back 32,000 to 37,000 years.

These most recent results, published in the internationally respected journal, Science, do raise the question of whether the paintings could have been created by Neanderthals. Previously considered as little more than the knuckle-dragging, only partly evolved ancestors of modern man, Neanderthals have enjoyed something of a renaissance of image recently, with many anthropologists positing that their sophistication has been underestimated.

Certainly, the dates that have been established by means of uranium decay do allow room for debate. If, indeed, the red sphere in El Castillo cave is 40,800 years old, then the possibility exists that it was created by Neanderthal artists. As it is thought that modern humans began to populate Europe 41,000 to 45,000 years ago, the subject of authorship is now being enthusiastically debated.

João Zilhão, an anthropologist at the University of Barcelona, describes the cave paintings as, “one of the most exquisite examples of human symbolic behaviour” and is clearly excited by the hypothesis that these pieces of primitive art could conceivably have been created by Neanderthals.

“There is a strong chance that these results imply Neanderthal authorship, but I will not say we have proved it because we haven’t.”

Courtesy of Frederick Peters, President of Warburg Realty

Housing is heating up! According to the Real Estate Board of New York, almost 10 times as many permits were issued for the construction of new housing units in Manhattan during the first five months of 2012 (1,422 permits) as in the comparable period in 2011 (146 permits). The 774 permits issued in Brooklyn represent a 42.3% increase over the number issued during this period last year. The much-discussed shadow inventory of unsold condo units (which, some feared back in 2009, would hold the New York market back for five years or more) disappeared, absorbed as a result of lower pricing and rising demand. The question is: will it happen again? Will supply outstrip demand again as both converted and newly constructed units move onto the market?

I think not. The economic intricacies of New York are considerable. We have an economy which is both improving and losing jobs. How is that possible? As the above paragraph demonstrates, the job situation in construction is getting better. New opportunities are being generated within the private sector. Businesses are, cautiously, expanding, using both cash and inexpensive (if still hard-to-obtain) financing to do so. On the other hand, the big banks are experiencing another round of layoffs as they continue to search for right-sized profit opportunities in the post-leverage era. In the midst of this uncertainty, the allure of real estate grows brighter for both American dollars and flight capital.

At one of my recent sales meetings, I asked my agents if they had seen a change over the last four years in the profile of the buyers they encounter in the marketplace. The answer was a resounding yes. First, condos of every size are being snapped up by overseas investors, whether a one bedroom unit near NYU being bought by Chinese parents for their student daughter, a two bedroom pied-a-terre chosen by a South American or European with business here and an unstable currency at home, or a trophy purchase for a wealthy Russian, Indian, or Las Vegan! And whereas in 2006 and 2007 the substantial majority of our local purchasers were finance professionals, many of them at the big investment banks, those buyers now make up a far less significant portion of our pool. We are dealing with more doctors (surgeons in particular), more attorneys, more real estate investors, more mid-sized business owners. And when we do sell to finance people, they now tend to come from the hedge fund world.

One last point: The suburbs are still cheap, but people are not flocking to move there. To the contrary, we see more and more people in every age range and income bracket fighting to stay in the city. The enormous quality-of-life enhancements of the last decade, the convenience, the variety of experience, and the steady influx of immigrants with big dreams keeps our market tight even as other markets in the tri-state area still struggle to recover.

So what does this all add up to? In both the co-op and condo arenas, pent-up demand exceeds supply, even in the dog days of July. So we need to keep those new units coming; even this year, with its enormous increase in construction starts over the preceding years, still represents less than half of the new units begun in 2008. We are a market starving for high quality inventory, and I am confident that if we build it, they will come.

Courtesy of Staci Caplan and Michael Humphrey, Sterling Properties & Estates - Santa Barbara Luxury Homes and Real Estate

Santa Barbara is truly a place unlike any other. We enjoy a world class selection of all the finer things in life - luxury homes and real estate, pristine beaches, sumptuous resorts, first rate golf clubs, events such as the Santa Barbara International Film Festival and the Santa Barbara International Orchid Show, and so much more! In addition to all this, the Santa Barbara area is also a hotspot for the wine industry, and this weekend we welcome the California Wine Festival to town.

Wine-making (and tasting!) in Santa Barbara dates back hundreds of years, before California was officially a state. In the late 18^th century, Father Junipero Serra planted vine cuttings near the Santa Barbara Mission. By the turn of the 20^th century, Santa Barbara County was home to 45 vineyards covering 260 acres of land. Today, the Santa Barbara County Vintners’ Association boasts a membership of over 100 wineries and more than 20 vineyards spanning over 17,000 acres! The most popular varietals in the area are Chardonnay, Pinot Noir, and Syrah.

The Festival

This weekend, experts and enthusiasts alike will have the opportunity to taste world-renowned wines along the Santa Barbara waterfront at the California Wine Festival. During this three day celebration, attendees will enjoy a selection of over 300 wines to sample, from a wide array of participating wineries, paired with gourmet cuisines and live music. In addition to a number of exclusive, intimate tastings planned for the weekend, the main event will commence on Saturday at Chase Palm Park, literally steps from East Beach (Click here for a complete list of events planned). With stunning views of the American Riviera served up alongside tantalizing cuisine to accompany the wines, the California Wine Festival has quickly become one of the state’s favorites. With nothing other than our perfect Mediterranean climate in the forecast, the California Wine Festival in Santa Barbara promises to provide yet another exceptional weekend!

Courtesy of: Piñeiro Vanes, Amat. Realty

of change XXXVII

I wanted to begin the last newsletter before the much-needed summer holidays with this reflection from Emili Teixidor, in order to pay homage to him on his death and also because his reflection is very appropriate at the moment. I have referred to it in many newsletters, about how things are not said with the right words and, therefore, we don’t do the things that we should. A poor state of affairs!

And what a month of June! From the Sitges sessions to the Cercle d’Economia meeting, it was all tears (though a high level was set in the interesting debate between the former French minister Kouchner and his German counterpart Fisher): the tensions of the risk premium, unemployment out of control, Greece, the “bail-out” of Spain, the legal decisions affecting Catalonia, and, above all, the problems being experienced by all citizens. Surely no more negative things can happen?

As you know, though, we always seek to be positive, and amidst the general economic decline, amidst the reigning discouragement, we can find some positive notes:

•  It is positive that we could set a price in the Sant Cugat real estate market. Following years of month-by-month reductions, prices have finally stabilised and the fall, while extraordinary, has now halted. Prices have fallen by some 50% from their highest point, reaching stability in May and June. Finally, we at Amat and the various Promoters have started to sell.
•  It is positive that a consensus is being reached concerning the need for a different model for Catalonia.
•  It is positive that Barcelona remains an attractive city to live in, and so many foreigners thus continue to come.
•  It is positive that recognition has been accorded to the sociologist Manuel Castells, who has been awarded the “Holberg”, the “Nobel Prize” among sociologists.
•  It is positive to be able to hear people like Jordi Pujol, so clear-sighted despite their age.

And now that the holidays are with us, we must be positive, for we live in a delightful country, we have marvellous sunshine, and we manage to attract lots of tourists to come and visit us and help us improve our economy.

Have a good holiday!

KNOW MORE ABOUT US...

Barcelona Balmes 345 ▪ Sant Cugat Vallès Centre Rb. Can Mora 10 ▪ Valldoreix Pl. Can Cadena 2 ▪ Sant Just Desvern Bonavista 63 central

www.amatimmobiliaris.com | T +34 93 480 34 00 | info@amatimmobiliaris.cat