Luxury Real Estate

By Jim Walberg

How many of you believe that the best time in 2009 to buy and sell real estate was the Summer? Well, you picked the wrong season. During my 35+ years in real estate in the East Bay, the best time to buy and sell real estate is the Fall and the Spring! Out of all my years in real estate over half of the 4^th quarters have been our largest sales months of the year? Surprised? The next busiest home sales months have been in the Spring. Here are the reasons why the Fall is the most active; lack of inventory; wanting to get into your next home before the Holidays; people moving into the area who need to purchase a home so they are able to enroll their kids into school for the second school semester; and, a Buyer’s need to close escrow on their home before the end of the year because of the tax benefits.

And, there are still hurdles for Buying and Selling a home in 2009 are still qualifying for mortgages and having the home appraise. The issue for Buyers is having the $8,000 first time homeowner tax credit end November 30, 2009. In order to get this credit a Buyer will need to have an accepted contract in escrow by no later than October 10^th, and that may even be too late because of the volume of Buyers waiting in line to qualify for mortgages by the end of November. For Sellers, the appraisals are still the BIGGEST hurdles they face. Even with an accepted offer the appraised value of the home may be less than the agreed sales price. The method used by Banks to keep home values down today is the appraisal. Don’t kid yourself. Banks still control the value of homes in the East Bay, not the agreed upon purchase price.

So, let’s look at the 2009’s Fall real estate market from the Seller’s point of view. The keys for the successful sale of a home in the Fall are the decline of homes on the market, and the pool of motivated Buyers is at it’s peak. Often times the mind set of a Seller is to take their home off the market because they think the Holiday Season is a bad time to sell a home. Most of the time, Sellers use this as their reason to not be bothered by Buyers while they are celebrating Thanksgiving and the Holiday Season. If they make that choice they will be missing out on the most motivated pool of Buyers during the entire year. With less homes on the market during the Fall, those that are still available for viewing will receive much more attention than homes for sale in the Summer when the largest number of homes are on the market.

What are the reasons Buyers are highly motivated to purchase a home in the Fall? The easy answers are because they have to, or because they want to. For example, November and December are big months for people relocating in and out of our area by their employers. Because of this they need to purchase a home in order to enroll their kids in the second semester school year. Without a home purchase contract they get a mid-year priority enrollment. Another “have to” reason is because a Buyer wants to take advantage of the tax benefits related to purchasing a home in the 2009 tax year. The “want to” reason for Buyers is related to wanting their next home by Thanksgiving or at least by the Holiday Season. They want to celebrate these special family times in their new dream home.

If you would like more information about organizing a successful sale of your home, or a successful purchase of your next home, The Bay Area Team is standing ready to assist you. CLICK HERE! I will be glad to provide you the needed information in order for you to make the best decision possible about your real estate sale or purchase. Until next time…your East Bay lifestyle detective remains on duty!

By Bill Raveis of William Raveis & Exceptional Properties

Bill Raveis equates today’s marketplace with past recessions and discusses the advantages of buying in a recessionary period.

Please click here to view the video!

By Jim Walberg of Caribbean Islands Realty

Buying your second or third homes are not just happening in the Caribbean. We have now discovered that many of our clients are buying in Italy, too.

Timbers Resorts, a leader in the emerging category of luxury, boutique resorts are completing the final work on beautifully restored and reconstructed farmhouse villas on 4,200 acres in the Tuscan region of Italy near Siena. For those who are wanting to enjoy the Tuscan lifestyle, Castello di Casole is a five-star luxury resort and residence club. These villas are being painstakingly restored and reconstructed to their original charm and further enhanced with modern amenities.

The Castello di Casole residences are organized around a series of glass-tiled, infinity-edge pools and hand-set stone patios complete with wood-burning ovens. Outside and in, one can trace the centuries across the hand-set loggias, terracotta vaulted ceilings and attention to exacting detail which makes each villa an individual expression of art and architecture. The farmhouse villas range from 3 to 5 bedrooms and include a private infinity-edged pool, with 4,000 to 7,000 square feet of living space. Furnishings are a collection of the finest interior appointments from local artisans and antiques gathered from throughout the region.

Located within easy access to Siena and Florence, this historic estate is also home to the 18th century Castello, opening in spring of 2010 as an intimate 41-suite, plus luxurious penthouse, hotel. Formal and casual dining venues, terraces, pools, artisan shops and a world-class spa and fitness center will be available for an Owner’s enjoyment

Some Of The Features and Benefits:

• Traditional Tuscan architecture and interiors
• Concierge team
• Airport transfers, private chefs and dining upon request
• Language and cooking classes
• Daily housekeeping
• Pre-arrival Grocery
• Extensive private trail system
• Guided regional day trips
• Grape and Olive harvesting
  

The pricing for fractional ownership starts at just over $300,000 for a 1/12 deeded interest. Your fractional purchase entitles you to three planned vacation weeks each year, plus usage as residences are available, and short notice vacation weeks. There are also whole ownerships available. Please contact me for further details. If you have an interest in owning a piece of Tuscany, this is a project you will want to seriously consider. Until next time…your lifestyle detective is on duty…