Luxury Real Estate

By: Weichert Realtors Points East Properties

The city of Portsmouth, New Hampshire is at its best as it hosts a notable celebration of Independence Day with great events spanning the week leading up to the 4^th of July. This annual historical celebration has a parade, fireworks, living history reenactments, music, and great food.

Portsmouth or Strawbery Banke as it is historical known is well known for its great shopping, fine dining, historical landmarks, and seaport. The intimate community offers a full array of luxury real estate options allowing savvy investors, second home owners, retirees, and even primary home owners a chance to take in this beautiful town and experience the great amenities first hand.

Happy 4^th of July! Don’t hesitate to come visit us in Portsmouth this summer.

By Jim Walberg of Caribbean Islands Realty

Jim Walberg is in the residential real estate trenches everyday. For the last few months a “sweet spot” has shown up as the hottest price point in the East Bay housing markets - $729,000 and below!

Remembering that all real estate is “local”, the experience we are having in our San Francisco Bay Area real estate markets is close to a “feeding frenzy” when it comes homes selling in the $725,000 price point and below. In fact, real estate is not just local, it is made up of dozens of “micro-markets” within miles of each other. Yesterday, KCBS 740 AM radio did a feature on this very topic and even asked me to comment about it as a Realtor who has been serving this region for over 30 years.

In the East Bay these “micro-markets” are almost 100% based on the price point of $725,000 and below. The words I would use today is, this slice of the residential real estate market is ON FIRE! These “micro-markets” are not just made up of REOs and Short Sales, they are mostly homes that are gorgeous, and in turnkey condition.

We listed a home for sale in the East Bay two weeks ago for around $675,000. It was the former model home in a beautiful community. It was staged perfectly and in move-in condition. Within two days we had six purchase offers presented to us, and it was in escrow within four days - closed in 25 days! Now that is HOT! Because of these results in our communities, you are seeing a trend that is creating a lack of inventory for Buyers to chose from. Months of inventor in some of these communities are as low as ONE MONTH! And when you look at the East Bay communities with price points over $1 million, they have 10 to 20 months of inventory of homes to sell. Do you see the dramatic difference in what price point can have on a community?

There are many factors that come into play that create this type of Buyer and Seller experience. So, this may not be what is happening in other regions of the country, but it is happening in the East Bay. Some of those key factors related to this price point are; mortgage rates are incredible; FHA, VA, Fanny Mae, and Freddy Mac loans allow for as little as 3.5% down for qualified Buyers; a GREAT community to live and work in; and GREAT schools. These are some of the key ingredients required for HOT MARKET conditions.

One of these key factors will not continue for much longer - attractive mortgage interest rates. They just had a dramatic increase the last few days. And…you can quote me on it, “Mortgage interest rates in the $725,000 and below price points will go UP by the end of year - maybe as high as 7%!” My reason for making this prediction is inflation, our country’s debt, bond prices, and foreign countries not buying the U.S. debt vehicles.

The message to Buyers??? If you are thinking of Buying a home in 2009 contact your real estate professional, and your mortgage loan officer TODAY, lock your loan, and see if you can get into the residential real estate market at one of the best times in our economic history. Please contact me today if you have questions or need any assistance in finding your next home. Until next time…your Bay Area lifestyle detective remains on duty!

By Arnaud Bouzinac of Zaya LLC

Partnership between Zaya and Utopia brings original chill-out lounge to the Middle East region

Abu Dhabi, 20 May 2009:- Zaya, the UAE-based luxury developer, has signed an agreement with Utopia, master franchisee of Café del Mar (Ibiza’s famed original chill-out lounge), to open in Zaya’s flagship project Nurai, a spectacular private community of limited edition resort beach-front estates and water villas on a beautiful island off the coast of Abu Dhabi, UAE.

 

“In creating Nurai, our focus was on bringing some of the world’s most exclusive experiences and brands to each and every resident. Nurai’s conception was a result of extensive and in-depth research into the tastes, inclinations and desires of our clients. Café Del Mar was a favorite amongst most of the target buyers we interviewed during the conceptualization process. We are therefore thrilled to be partnering with Café del Mar and look forward to delivering together great experiences for our Nurai residents and guests” said Nadia Zaal, CEO, Zaya.

Utopia, master franchisee of Café Del Mar, was approached by Zaya to deliver this distinctive offering that would perfectly blend the two brands, with a focus on exclusivity, luxury and sophistication. Inaugurated in 1980 on the island of Ibiza, Café del Mar has played a major role in the foundation of chill-out music culture and has franchises in various locations around the world. It first gained fame in the eighties and its music CD’s have gained a worldwide following since then.

“Café del Mar has quickly become a favorite and frequented hangout for well known personalities, including artists, writers, painters and intellectuals who originally visited the café looking for a haven of tranquility and to contemplate the famed Ibiza sunset. The ambience drew hundreds of people to it and it was precisely the music and the sunsets that made it a magical place still famous today. Café Del Mar epitomizes the quintessential soundtrack to luxurious island living. It will provide Nurai residents and their guests with an exclusive enclave where they can enjoy great cuisine and fantastic music, amidst a spectacular ambience reminiscent of Ibiza. Café del Mar, Nurai will be the world’s most exclusive sunset lounge bar and will set a new benchmark in the entertainment hospitality industry.” said Umesh Amarnani, CEO, Utopia.

Nurai is surrounded by clear waters and ringed with pristine sandy beaches. Lying immediately northeast of Abu Dhabi, the natural island is set in isolation away from the hustle and bustle of city life yet is within minutes from the mainland, affording its residents secluded accessibility to Abu Dhabi, an influential and growing business hub and emerging cultural and entertainment hotspot.

Awarded the “Most Luxurious Project in the World” title by Newsweek Arabic Edition Awards, Nurai consists of a combination of shoreline and seaside beachfront estates as well as water villas all of which afford its residents an abundance of space, uninterrupted views and heightened privacy. Residents will have access to all of the services and comforts provided by the island’s boutique retreat and spa/fitness centre. In addition to the amenities of the retreat, which include three world class restaurants and multiple lounges, Nurai also offers a private helipad and marina with an arrivals lounge, private beaches and water sports facilities, with Utopia providing the Café del Mar lifestyle experience with live entertainment on custom built platforms for artists to perform on the beach lounge bars.

About Zaya

Founded in February 2008, Zaya is a UAE based boutique developer specialising in high-end real estate with offices in Abu Dhabi & Dubai. Zaya is a joint venture between Tasameem Real Estate, and Assas LLC whose combined portfolio is in excess of US$20 Billion. Tasameem Real Estate has a development portfolio worth more than US$ 15 billion around the world. Assas is an investment holding company focused on investing in premium and luxury developments. Tasameem and Assas together bring over 25 years of experience in delivering world-class real estate. Zaya’s first project, Nurai, is a private island in the Arabian Gulf just minutes away from the city of Abu Dhabi, one of the fastest growing cultural, entertainment and business capitals of the world. Nurai is a development of 31 beachfront estates, 50 water villas, and one boutique luxury retreat due for completion in December 2010.

About Utopia

Founded in March 2008 by Umesh Amarnani, Utopia, is an offshore based Entertainment Hospitality and Management Company with its head office in the Jebel Ali Free Zone, Dubai . Utopia focuses on creating state of the art venues around Asia and the Middle East - promoting a lifestyle that converges restaurants, art bars, lounges, performance spaces, clubs, along with boutique hotels and spas.