Luxury Real Estate

Courtesy of Realogics Sotheby’s International Realty

SEATTLE, WASHINGTON (May 1, 2012) – Realogics Sotheby’s International Realty, Downtown Seattle’s Leading Luxury Real Estate Firm will host Sotheby’s Vice-Chairman of Asian Art, Henry Howard-Sneyd, for a private valuation of Chinese Works of Art at an event open to the public on May 3.

China has emerged as the largest consumer in the world for luxury goods and high-priced artworks. Since Sotheby’s held its first auction of Chinese Art in London in 1922, the department has gone from strength to strength, with sales held twice yearly in four salerooms: London, New York, Hong Kong and Paris. A robust, global category, Chinese Ceramics & Works of Art sales have attracted as many as 1,200 bidders from 47 countries in recent seasons. Collectors have spent more than $1.1 billion on Chinese Ceramics & Works of Art at Sotheby’s during the past five years.

The Vice-Chairman of Asian Art, Henry Howard-Sneyd has targeted Seattle as an important market for consignment of Chinese Fine Works of Art and already boasts an established clientele of art connoisseurs in the local area. This week’s event will broaden the awareness of Sotheby’s growing interest in Asian art with their hosting of an opening to the public; offering an exclusive opportunity to bring in individual art works for a complimentary appraisal and consideration as an auction consignment. The event will be occurring one day only, Thursday, May 3, 10am – 5pm. Private appointments only. Please call 1 212 606 7332 to schedule a confidential appointment.

What: Sotheby’s Art Sweep – An Invitation to Consign Chinese Ceramics & Works of Art

Where: Realogics Sotheby’s International Realty Residential & Resort Showroom, 2715 First Avenue, Seattle

When: Thursday, May 3, 10am – 5pm

Who: Henry Howard-Sneyd, Sotheby’s Vice-Chairman Asian Art

About Realogics Sotheby’s International Realty

Realogics Brokerage, LLC (DBA Realogics Sotheby's International Realty) has emerged as a leading sales and marketing company in the Seattle area. The company’s mission is to provide excellence into the resale marketplace including multi-family, single family and now resort residences throughout the state of Washington. Managed by Realogics, Inc., the collective presents a fully integrated real estate solution comprised of market research, product development, full-service marketing and sales. The Realogics Group of Companies owns a long-term franchise within the Sotheby’s International Realty network. Realogics Sotheby’s International Realty is independently owned and operated by Realogics, Inc. www.RealogicsSothebysRealty.com.

About Sotheby’s, Chinese Ceramics and Fine Works of Art

Chinese Ceramics and Fine Works of Art is a department that offers great masterpieces of Chinese Art for auction. Sales include a wide range of works, such as ceramics, jades, ivory and rhinoceros horn carvings, furniture, bronzes, sculptures, paintings and clocks from the Neolithic period to the Qing dynasties. Sotheby’s international team has cultivated strong relationships with the key collectors in the field, as evidenced by the number of important private collections that have been entrusted to them for sale, amongst them The Meiyintang Collection, Property from J.T. Tai and Co., The Collection of Carl Kempe and The Estate of Emile Guimet. Recent successes include the extraordinary prices of $18 million for a Famille-Rose Floral Medallion Bottle Vase, $15.8 million for a Massive Imperial White Jade "Xintian Zhuren" Seal, the record-breaking 22-million for an Outstanding Blue and White Vase with Fruit Sprays, Meiping Ming Dynasty, Yongle Period and $26.6 million for an Outstanding Ru Guanyao Lobed Brush Washer, which set the world auction record for Song ceramics. Learn more about this department in Records & Results. www.Sothebys.com

Courtesy of Harry Norman, REALTORS^®

ATLANTA, GA – A historic Neel Reid-home was featured during the Druid Hills Home and Garden Tour & Artist Market, April 20-22. The tour celebrated the beauty, tradition and future of the Druid Hills neighborhood.

Reid, a beloved Atlanta architect, was strongly influenced by the American Renaissance. One of the homes on the five-home tour, 857 Oakdale Road NE, was designed by Reid in 1916 and completed in 1918 for real estate magnate Forrest Adair of Adair Realty for $8,000.

Purchased in 1989 by Evan Lindsay and Dr. Nancy Cox, the home underwent nearly 20 years of renovations until its premier at the 2008 Druid Hills Home and Garden Tour. In 2009, Oakdale was struck by lightning and caught fire—completely destroying its interior. During the 25-month rebuilding, homeowners stayed with Harry Norman, REALTORS® agent Travis Reed. And with the addition of two complete floors, the once two-story tutor is now four-stories high—featuring the best of the original designs with many contemporary refinements found in new homes.

In addition to touring the home, guests were able to view paintings by local artists, white jade from China, antiques from around the world, Memluk and Hereke rugs from Istanbul and light fixtures from Turkey, all collected over the years by the homeowners.

Oakdale had all four floors accessible to the public for viewing during and tour and was both sponsored and staffed by Harry Norman. It was the only Neel Reid home on this year’s tour.

Proceeds from the tour and the market benefited the Druid Hills neighborhood, Frederick Law Olmsted’s preserved residential suburb, by supporting all aspects of historic preservation, including contributing to the preservation and development of green spaces in this renowned National Register district.

Interview available upon request.

About Harry Norman, REALTORS^®

Founded in 1930, Harry Norman, REALTORS ^® is Atlanta’s oldest and largest residential real estate firm with 12 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. Harry Norman, REALTORS ^® is the exclusive Atlanta affiliate of Christie’s International Real Estate and achieves additional international exposure through membership in such exclusive real estate networks as Who’s Who in Luxury Real Estate and Leading Real Estate Companies of the World®. More information is available at www.harrynorman.com.

Courtesy of Kentwood City Properties

DENVER – Jamie and Brian Harris of Kentwood City Properties have listed a grand, three-story Queen Anne Victorian home in Denver showcasing a complete renovation throughout, plus a priceless and very colorful history. Located at 214 S. Lincoln Street, the home is highlighted by modern, high quality appointments complimented by original woodwork and hand-carved trim, and a great location near Washington Park.

This impressive home’s first occupant was William Fitz Randolph Mills, a key political figure who brought the 1908 National Democratic Convention to Denver. Mills was also a very influential part of Mayor Speer’s “city beautiful” project that was instrumental in the construction of Civic Center Park, Denver Mountain Parks, expansion of The Denver Zoo, and The Denver Museum of Nature and Science. Mills became Denver’s Mayor in 1918.

This beautifully remodeled Victorian was also owned by William H. Smiley, a national leader in education and influential Denver principal and administrator, and William E. Mills, long-time editor of the Denver Sun newspaper.

Built in 1890, the home offers three bedrooms, 2-1/2 baths, a two-car detached garage, and 2,965 finished square feet. Priced at $575,000, the owners will enjoy hardwood floors on all levels, a gorgeous master suite with elegant five-piece bath, and a cozy fireplace in the main floor parlor. The modern kitchen is appointed with soapstone countertops, a slab granite island with halogen pendant lighting, and high quality Viking and Bosch stainless steel appliances.

The third level can serve perfectly as an exercise room, home office, guest room, or entertainment room. Finishes include Hansgrohe fixtures, Venetian plaster, original and renovated stained glass, and renovated antique light fixtures. The home includes central air-conditioning, complete wiring for internet and sound, and energy-efficient windows.

In addition to the complete interior finish updates, all electrical, plumbing, heating, windows, and insulation have been updated offering a “historic house feel” with all of the modern comforts and conveniences. The charming back yard is perfect for entertaining with a distinctive pergola, lush grape vines, and mature shade trees.

The fortunate buyers will enjoy close proximity to Washington Park, a wide variety of restaurants, and light rail. The historic neighborhood is known for its historical homes, charm, and pleasant lifestyle that is reminiscent of a bygone era when time seemed to pass more slowly.

For more information on this grand Queen Anne Victorian home and to schedule a personal tour, contact Brian Harris at 303-870-2489, email harris@kentwoodcity.com, and Jamie Harris at 303-870-3994, email jamie@kentwoodcity.com. Additional information is available online at www.HarrisTeamDenver.com.

Kentwood City Properties, formed in 1999, is the newest member of Kentwood Real Estate, known nationally as Denver’s premier real estate company. The company’s street-front office at the corner of 17^th and Wynkoop streets, directly across the street from Union Station, is comprised of 50 of metro Denver’s most experienced real estate professionals serving residential buyers, sellers, and developers and commercial real estate services for buyers, sellers, landlords and tenants. For more information phone 303-820-CITY (2489), and visit online at www.kentwoodcity.com.

Kentwood Real Estate is comprised of Kentwood City Properties, The Kentwood Company at Cherry Creek, and The Kentwood Company in the Denver Tech Center. View all Kentwood listings at www.DenverRealEstate.com.

Courtesy of Frederick Peters, President of Warburg Realty 

The purchase and/or sale of residential real estate unfolds at the juncture between business decision and lifestyle choice. It is thus subject to a series of beliefs, on both the buyer and the seller sides, which reflect the uncertainty of that rather hazy intersection. Neither strictly a nuts-and-bolts, by the numbers choice, nor one in which the splurge mentality which can apply to shoes, or cars, or jewels, easily applies, this very large, yet very personal purchase has given rise to its own mythology. Herewith a few of those myths, and my attempt to debunk them:

Myth 1 – I might as well hire my cousin’s sister-in-law’s aunt as my agent. They all do the same thing. Actually, no. Residential brokerage is a highly skilled profession which takes years of experience to develop real expertise. A broker who is intuitive, savvy about the intricacies of the market, a good negotiator, and a strong but reasonable advocate will save you money (and often the deal) and facilitate every aspect of the process

Myth 2 – It only takes one person to fall in love with my property. While this is self-evidently true, it is usually code for “I don’t want to lower my price.” It is thus in the same category as “Why don’t they just make an offer?” The answer is, these days if they think the price is too high, they will just move on. They will doubt that a reasonable offer can succeed. While W.C. Fields may have been right about a sucker being born every minute, you cannot count on any of them showing up on your doorstep.

Myth 3 – It cannot hurt to make a very low offer. In fact it can. It risks angering and alienating the seller. And once the seller is alienated making ANY sort of deal with him/her will be that much more challenging. Be an aggressive negotiator, but be reasonable. It is no longer 2009!

Myth 4 – I know the market will be going down, because (fill in the blank…) I will buy after it does. I have heard this line, mostly (with apologies) from finance professionals, for over 30 years. Here’s the interesting truth: when the market really DID go down, in 2009, almost no-one had the courage to buy. Those who did got amazing deals, but most did not. No matter what they tell themselves, and us, most people just don’t have the stomach to go against the prevailing tide.

Myth 5 – I know the Board has a financial formula. Just tell me what I need to show. Very few Boards have a formula. And every application, like every buyer, is unique. So there is only one way to go when preparing a co-op Board package: full disclosure. The buyer who tries to outwit the process is most often the buyer who gets into trouble. Tell the truth, the whole truth, and nothing but the truth. Show and document all assets; don’t puff them up or scale them back.

Myth 6 – if I sell my property for less than I paid for it, I am losing money. Not necessarily. The all important issue when selling relates not to the absolute price, but to your next step. If you are selling to buy a bigger place, a lower price can, oddly enough, work in your favor. If you bought for $1,500,000 but you are selling for $1,350,000,that means the market is down 10%. So the property for which you would have paid $2,000,000 is now going to sell for $1,800,000. You actually end up $50,000 ahead. It is always better to trade up in a down market; it saves you money. When you are selling and buying in the same market, all that matters is the difference in price between the two transactions. The absolute numbers (tax considerations aside) are irrelevant.

Our job as agents is to help our clients maintain balance between the personal and financial aspects of these highly fraught transactions. Deflating the urban real estate legends is part of what we do.

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

Courtesy of Staci Caplan and Michael Humphrey of Sterling Properties

This weekend, Santa Barbara is proud to host our very own Earth Day Festival in Alameda Park! The annual event is near and dear to residents of Santa Barbara, and has been held for 42 years. In addition to the many attractive luxury homes in the area, our city has incredible natural beauty – from the waterfront, with some of the best beaches in the world, to the many environmental preserves, including the Coronado Butterfly Preserve which protects Monarch butterflies during their yearly migration south. With such great beauty comes the responsibility of preserving it, and our Earth Day Celebration highlights all the ways we do, promotes more sustainable and healthy lifestyles, and looks into the future at ways to protect our environment in new and exciting ways. This year’s theme is “Mobilize” and as such many of the exhibits at the festival will be focused on efforts to reduce our reliance on fossil fuels.

Many special events will be featured this year (Click here for a complete schedule). Among many other fantastic exhibits, the Earth Day Festival will include a Green Car Show with a great selection of the newest and most efficient yet hybrid and electric vehicles to test drive, some of which get the equivalent of 100 miles per gallon! Some of these electric vehicles can even be charged through a solar carport, collecting sunlight by day and charging the car by night.

Santa Barbara has a thriving cycling community, with many choosing to bike to work or simply enjoy riding around town instead of driving. There are many bike paths in the area, ranging from scenic routes along the waterfront and through the center of downtown Santa Barbara, as well as a number of very challenging routes for the athletes among us. The “Bike World” exhibit will feature a number of vendors who will help educate the public about what a great alternative biking is, especially in a city that makes it so convenient to do so – as evidenced by the estimated 2,000 people who biked to the Earth Day Celebration last year! “Bike World” will even provide secured, free bike valet service for up to 1,000 bikes and feature a small stage powered completely by “pedal power” generated the audience!

The festival is providing a chance for the community to speak with local elected officials about their environmental concerns, ideas, and questions at the “Public Square”, a feature added this year. This is a great opportunity for individuals to have their voices be heard and to highlight the fact that every individual’s effort toward a sustainable future counts. As one of the first communities to celebrate and promote Earth Day, we always look forward to the opportunity to encourage community members to fuel local and national change.

At Sterling Properties, we’ve been making changes to the way we work in an effort to help make a difference. In addition to going paperless whenever possible and providing easy access to the numerous recycling bins in our office for our associates and clients, Broker and Co-owner Staci Caplan was among the first to earn the GREEN designation through the National Association of REALTORS in 2009 and chaired the first Green Task Force at the Santa Barbara Association of REALTORS in 2009, as well as serving on the Green Task Force at the California Association of REALTORS in 2008 and 2009. She continually educates herself and her fellow associates at Sterling Properties about sustainable practices in real estate, business, and green building.

We’re certainly looking forward to the festivities and hope that you’ll be able to join us if you’re in the area!

Courtesy of Rimontgó

The Montgó is a mountain that dominates the scenery in the Jávea Valley, a beautiful natural setting that culminates in the pretty coastal town of Jávea, its sandy beaches and a big bay flanked by towering cliffs on the easternmost point of the Spanish coastline.

Rising to a little over 750 metres in height, the Montgó is marked by a long even ridge that rises gently to a rounded peak near the old town of Jávea. Because of this distinctive shape it is sometimes likened to an elephant head, and exudes all the power and grace of that animal.

Though created as a fold mountain some 70 million years ago, the Montgó Mountain will this month be celebrating a more precise birthday, namely the 25^th anniversary of the founding the Montgó Nature Reserve. Measuring 2150 hectares, the reserve protects an area that contains a vitally important floral habitat unique to this region, with over 650 species in all, many ranking as rare relics of aboriginal Mediterranean vegetation.

Special hiking trails take visitors along routes where beautiful flora and amazing views fight for your attention, along with a wide range of birds of prey. The founding of this protected area has not only worked to conserve an important biosphere but has also put Jávea on the map as a centre for natural and environmentally focused holidays. New businesses and services have sprung up around this, adding a valuable contribution to the local tourist offer. Let’s hope the Montgó, which has inspired the name of Inmobiliaria Rimontgó, will be visited by nature lovers for many more years to come.

Courtesy of Realty Trust Group

Portland’s Real Estate Market has been slowly showing improvement in the housing market. Now is the time to buy in one of the most beautiful cities in the country. Rated in the top five by Moody’s Economy.com and MSNBC.com for being one of the first major metropolitan cities to see recovery.*

*Information from MNSBC.com

A comparison of first quarter prices this year and last shows average sales price declined less than one half percent. The average sale price was $251,700 in the first quarter of this year and $252,800 in the comparable period last year. The median sale price decreased 1.4% ($212,000 this year and $215,000 in 2011).

*Data taken from Portland’s RMLS March 2012

There are four main types of financing purchasers are using. See the graph for a breakdown in financing types for homes and condos sold in March 2012.*

*Statistics taken from RMLS Home Sales Report, March 2012

Comparing March 2012 with March 2011 shows improvement in both pending and closed sales, which were also up compared to the previous month. There were 2,272 accepted offers, 12.8% more than the 2,014 reported in March 2011 and 7.7% more than the 2,109 in the previous month. The 1,694 closed sales represent a 4.9% increase over the same month last year, when 1,615 were recorded, and 34.2% more than the 1,262 sales in February.

New listings this March (2,886) were down compared to March last year (3,056), but rose 15.8% compared to February (2,492). The combination of fewer new listings and more closed sales contributed to the lowest unsold inventory since June 2007. It would take only five months to sell the 8,391 active listings at the March rate of sales.

*Inventory in months is calculated by dividing the active listings at the end of the month in question by the number of closed sales for that month.

Realty Trust Group is a locally-owned real estate company that has achieved the highest sales volume per agent in the Portland Metro Area and has provided more than a decade of service to its clients and community.

For more information about the Portland housing market visit our site www.realtytrust.com or call us at 503.294.1101.

To read the full market report, click here.

Courtesy of Frederick Peters, President of Warburg Realty

As we move into the middle of April, many of us in the business are wondering, will there be the traditional spring market? Usually at about this time there is an uptick in inventory, prices begin to ascend (especially with help such as Vivian Toy’s upbeat article about real estate sales in the Sunday New York Times) and deals begin to flow fast and strong. So is it happening in 2012?

Let’s start by acknowledging that the market is already strong. We have seen plenty of deals so far this year, especially, as I noted in my first quarter market report two weeks ago, in the upper and lower echelons of the market rather than the middle. At Warburg we expect the market to remain on track, maybe even accelerate a little, but we don’t anticipate a big jump in prices and certainly not one in inventory. Here’s how I predict spring will come to real estate in New York:

· Over all, the market will remain strong. This is particularly true in the new condominium market, to which foreign money flocks; the small apartment market, which every day embraces more refugees from the overheated rental market; the major co-op market, which is never long on inventory but is currently long on demand; and everything in northern Brooklyn, which seems to be in an ongoing best and final offer situation for property after property.

· If it is going to sell fast and well, it will have to be priced right. We have noticed that almost all of our new listings have the same experience in the market: 25 showings the first week, 12 the second week, 4 the third week, and if you don’t have an offer by Week Four then you have to settle in for a while. So, this spring, pricing right at the get-go is vitally important. The units which are still on the market after six months have one thing in common: they were not priced right at first and did not sell during the early days of excitement and pent up demand. Our market is efficient that way.

· Buyers are going to be choosing from limited options. There are not going to be a lot of inventory alternatives for most buyers. Much of what is available has been around a long time, for the reasons described above. And not much new is coming on, even though it is April. So once they have seen what is out there, buyers will not have a lot more options in the weeks and months ahead.

· First impressions will matter more than ever. Sellers hate it when we bring up staging. But every property needs to be staged. Less clutter, a clean paint job, shiny floors, edited furniture – very few properties, even those in excellent condition, don’t need one of the above. And each year, buyers have less patience. They don’t revisit and generally they don’t reconsider. So sellers: don’t wait to stage. Make it part of your initial plan. Since the recession staging has taken on critical importance. Buyers just expect that properties they view will look nice.

Principals and brokers all fare well in a market like this one. Prices (except in the aforementioned Brooklyn) are not runaway, negotiations are expected (caveat: see Brooklyn, above, where all the negotiating is up!), and most deals are struck at a point of acceptable discomfort for both sides. We might wish for a little more inventory, but we cannot have everything. The weather is beautiful, Central Park and the planters on a thousand terraces and balconies are in bloom, and the dream is just waiting for us to live it. 

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

Courtesy of Staci Caplan and Michael Humphrey of Sterling Properties

The Santa Barbara Bowl is nestled up against the foothills of the Santa Barbara Riviera, the natural landscape simultaneously making the venue a beautiful place to enjoy the many talented artists’ performances and enhancing the acoustics of the venue. Built in 1936, the Bowl was originally designed to host performers for Santa Barbara’s annual Old Spanish Days Fiesta celebration. Costumed riders, torches in hand, would descend down the hillside to a revolving wooden stage to celebrate Santa Barbara’s rich Spanish heritage in a magnificent spectacle. Unfortunately, this stage was destroyed in 1939 in a flood. It was replaced with a concrete stage which remained in place until 2001. At this time, The Santa Barbara Bowl underwent a complete remodel to become the beautiful amphitheatre we enjoy today, and many additional improvements are planned for the future. A new stage was installed, with dressing rooms tucked away underneath. This world-class venue attracts some of the biggest names in music, past and present, yet offers an intimate atmosphere for guests where every seat is a good one – perfect for a fun night enjoying the Santa Barbara lifestyle of fun and luxury.

Founders and patrons, who aid in the efforts to maintain and preserve this unique venue, enjoy many perks to thank them for their generosity. They have access to the reserved VIP section consisting of 48 prime seats directly behind the floor section as well as reserved parking spaces. These supporters of the arts also are granted exclusive access to the beautiful Wendy McCaw Terrace, above the seating areas, which offers wonderful views of the city and stretching coastline. Members also can attend pre-concert receptions and the member-only end of season celebration event.

This weekend brings the long awaited opening of the 2012 season. First up on the list is Florence + The Machine, making Santa Barbara one of only 15 stops on her US tour. This season will bring performers such as Beck, The Beach Boys on their Historic 50^th anniversary tour, Norah Jones, and many other amazing performers (Click here to check the lineup throughout the season for additional concerts as they are booked). The Santa Barbara Bowl has also hosted influential artists including Peter Gabriel, Bob Dylan, Journey, Styx, Stevie Nicks, Radiohead, Santana, Crosby Stills & Nash, Bob Marley, and The Clash – just to name a few!

Santa Barbara’s residents are dedicated to giving back to the community, especially when it comes to supporting the arts, and those efforts are rewarded by having access to world-class venues to enjoy incredibly gifted artists.

Courtesy of The Muljat Group

Are you thinking about buying a home and not sure what to expect? Join us for our first ever “educated homebuyer workshop”.

Our panel of experts will discuss home improvements, home inspections, and the homebuying process, including mortgages and working with a Realtor. In addition we will have information about FHA “streamline rehab loans” which can provide financing for many common remodeling projects when you purchase your new home.

To read more information visit http://bit.ly/HGZ7Uj.