Luxury Real Estate

Courtesy of Kirsty Bryson of Luxury Homes by VAPF

Spanish Businessman Amnacio Ortega in 7th Place

The founder of the Inditex textile empire, which houses internationally renowned names such as Zara, Pull and Bear, Massimo Dutti and Bershka, finds himself once again in one of the top 10 positions on the list of the richest people in the world. Mr. Ortega, who is 75 years old this month, has just handed over the control of the business to Mr. Pablo Isla, until now the vice-president of the company, although the camera-shy Mr. Ortega still remains the company’s majority shareholder.

Mr. Ortega will retire with an estate worth 31.000 million dollars, or 22.300 million euro, 9.100 million euro more than in 2009, when Spain was at a low after suffering the effects of the world crisis.

The Forbes list contains a record number of 1.210 billionaires worldwide, with Mexican Carlos Slim at the top of the list, ahead of Bill Gates, who still holds second place even though he has donated a third of his fortune to the foundation that bears his name.

The biggest loser of the year, dropping from 11^th place to position number 162, is the owner of Ikea, Ingvar Kamprad. The 84 year old Swede has seen his assets deplete from 17.000 to 6.000 million dollars due to tax payments after discovering he was diverting 3% of Ikea’s turnover to the tax havens of Liechtenstein and Luxembourg.

The youngest billionaires on the list are the “Facebook clan”: Dustin Moskovitz, who at 26 is the youngest, Sean Parker, Eduardo Saverin and, of course, Mark Zuckerberg, who has seen his fortune increase by 238% since 2010 and has been one of the most talked about people over the last year after the release of the film about his life “The Social Network”.

Although Asia has surpassed Europe for the first time in the last decade in number of billionaires, 332 vs. 300, respectively, Moscow is definitely the richest city in the world with a total of 79.

According to Forbes, 72% of the richest in Europe built their wealth up from scratch, with Amancio Ortega providing a clear example of this fact.

Courtesy of William Tsang of Luxuryrealestate.com and Forbes.com

Flashy cars, well-manicured suburbs, and towering foyers are how some define the neighborhoods in which they live in. However, Forbes.com has recently published a list of America’s most expensive zip codes, where, “In these neighborhoods, $4 million homes are the norm.”

Presenting itself at the top of the list is 91008, Duarte California where the median home price is a soaring $4,276,462. Midway through the list at number 24 is 90625 (Malibu, California) where the median home price is $2,730,577. At number 42 is 98039 (Medina, Washington) where home prices average $2,170,308. For the full list of America’s Most Expensive Zip Codes click here

LuxuryRealEstate.com, le site Web de l‘immobilier de prestige le plus visité dans le monde (194 pays), accueille plus de 65 millions de visiteurs par mois.

En tant que le plus grand réseau du monde pour l’immobilier de luxe, LuxuryRealEstate.com se compose de plus de 1.500 compagnies immobilières représentant plus de 5.500 agences et 100.000 agents immobiliers dans 78 pays. LuxuryRealEstate.com propose une sélection de plus de 60.000 propriétés de luxe avec un prix de vente moyen de $2.400.000 USD.

LuxuryRealEstate.com a reçu la distinction ‘Official Honoree’ pour son travail d’excellence par le Webby Awards (Les Oscars de l’Internet) en 2009. Le magazine Forbes et le quotidien Wall Street Journal qualifient LuxuryRealEstate.com en tant que ‘le meilleur du Web’. LuxuryRealEstate.com est également classé numéro 1 au niveau des recherches de l’immobilier de prestige sur les moteurs de recherches les plus importants comme Google.com, Yahoo.com, Netscape.com, Bing.com et MSN.com.

Courtesy of: LuxuryRealEstate.com

Katrina S. Campins, Founder of The Campins Company, is among the most visible and successful real estate professionals in the country. Headquartered in Miami Beach, Florida, with offices in Chicago and Maryland as well as a proprietary network of brokers called The Campins Clique Nationwide, Katrina’s sales production ranks her among the top ½ percent of realtors’ nationwide. She has been featured in numerous publications including recognition as Realtor Magazine’s ‘Top 30 Under 30’ in 2004, Forbes, USA Today, NY Post, NY Times, Sports Illustrated, Ocean Drive, ESPN, Player Magazine, Variety Magazine, the covers of People Magazine, US Weekly, In Touch an d many more. Katrina continues to leverage her media exposure to further her real estate career and build The Campins brand, thus providing exposure to her properties and clients. Katrina has and continues to appear on NBC, VH1, E!, HGTV, SITV, Topps TV, Fox News, CNN, CNBC, ESPN, MTV, BBC and starred in Bravo’s docu-drama, Miami Social.

Licensed at the age of eighteen, Katrina garnered her first six-figure commission check while still a college student. Katrina launched the Campins Company in 2004 and has constructed an ‘A’ list roster of clientele consisting of celebrities, athletes and entrepreneurs. She formed the Sports & Entertainment division within her company in 2005 in order to better service her celebrity clients with their real estate needs throughout the entire United States. Since 2005, Katrina has personally represented over 160 athletes and/or entertainers in this capacity. The Campins Company’s Project Marketing & Management Division has also sold over $100 million in four exclusive listings (three office condominium projects and one condo-hotel project) since its inception. In total her sales production exceeds $520 million since the launch of her company. Katrina’s business development prowess, negotiation skills, market knowle dge and no-nonsense, results-driven approach make her the powerhouse she has become at a young age.

Katrina graduated from the University of Miami with general honors and a 4.0 grade point average, while majoring in International Finance & Marketing. Her career in real estate began when she ‘flipped’ her first investment property at age seventeen. Katrina believes strongly in giving back to her community and is involved in several charitable organizations. Katrina, a first-generation Cuban-American is fluent in English and Spanish.

To learn more about Katrina Campins, visit her website. For more information on the 8th Annual Luxury Real Estate Spring Retreat and other upcoming events, visit www.luxuryrealestate.com/conference.

By Benjamin Pradel
From his blog: R. CHAYLA rejoint le réseau Luxury Real Estate (n°1 mondial)

Déjà membres depuis janvier 2008 du réseau Châteaux & Co., regroupant des agences immobilières indépendantes spécialisées dans les transactions de charme et de prestige en France, nous franchissons un nouveau cap en rejoignant le réseau international LuxuryRealEstate.com.

LuxuryRealEstate.com, n°1 mondial, est un réseau indépendant regroupant 2120 agences immobilières dans le monde dont 7 agences pour la France. Notre agence obtient donc l'exclusivité régionale de Luxury Real Estate.

Outre une fréquentation record du site internet à plus de 62 000 000 de visiteurs / mois, le site www.luxuryrealestate.com est classé n°1 mondial pour les recherches en immobilier de luxe (source: alexa.com). Il est également qualifié en tant que le "meilleur du Web" par le magazine Forbes et le quotidien international Wall Street Journal depuis les sept dernières années.

Notre agence fait donc partie maintenant du plus important réseau d'immobilier de luxe, ce qui devrait nous permettre de renforcer notre image et notre position auprès d'une clientèle à fort pouvoir d'achat.



Editor’s Note:
Don’t speak French? Click here for an English version of this blog entry. It's funny to see what the translator does to the parts already in English. Benjamin Pradel is an Information and Technology Specialist with R. CHAYLA Immobilier in Carcassonne, France. Founded in 1991, R. CHAYLA has a multilingual team, agencies with cutting-edge technology and exposure on dozens of Web sites. They are known across France, and their international exposure grows daily. It’s great to get so much global news and flavor in the Luxury Real Estate Blog. Whether you’re looking for information on luxury homes or luxury markets, you’re sure to find what you’re looking for on www.LuxuryRealEstate.com.

By Jean-Yves Piton

While luxury properties are part of the conspicuous consumption group, unlike several other goods, their proposed premium prices are not a function of the premium brands they are attached to. Instead, factors such as location, amenities, space, architecture and historical value justify their premium prices around the world.

So, what type of luxury homes would you acquire in major metropolitan cites worldwide for $1 million USD in 2008?

According to “What $1 Million Buys in Homes Worldwide” by Matt Woosley, Friday, January 11, 2008, provided by Forbes.com, in New York, you can expect a 647-square-foot Turtle Bay condo with 45-square-foot balcony, white oak floors, and 11-and-a-half-foot ceilings. In London, you can purchase a one-bedroom, one-bathroom flat in Primrose Gardens. In Hong Kong, you can acquire a three-bedroom, 825-square-foot apartment in a high-rise between the residential areas of Aberdeen and Pokfulam.

While $1 million USD grants an invitation to the millionaire's club, it clearly does not buy the most spacious and astonishing luxury property in most top metropolitan cities worldwide in 2008. Based on the figures discussed earlier, such properties might just work as a pied-a-terre during a business trip or a short vacation.



This also explains why more buyers are currently opting for luxury fractional ownership, the trend ahead. This being said, keep in mind that this rapidly increasing trend applies to everything luxury in 2008 (from designer handbags to the finest properties).

So, how do you market a luxury fractional property? Evidently, it is easy to assume the same way you would promote a luxurious property. Partly due to the traditional premium variables like location, amenities, space, architecture and historical value. Also, though a fractional ownership, you could insist on the long-term investment, just as for any other luxurious property.

Nevertheless, there is another element, which must not be omitted to successfully advertise a luxury fractional property. That is promoting the dream to potential buyers and investors. There must be a fine balance of both emotional and rational communications to connect potential buyers to the properties through careful advertising. Where the rational communication focuses on owning a luxurious property (one of a kind), promoting the dream (the emotional communication) helps foster a sense of emotional connection (a state of being and/or sense of being).


Editor’s Note:
Jean-Yves Piton is the Global Services Membership Manager for LuxuryRealEstate.com. He assists Bente Madtsen, the Director of Global Services, in expanding the LuxuryRealEstate.com brand into even more countries around the world. Fractional ownership is a great tool for vacationers and other people looking for flexibility and great investment opportunities. I actually wrote an editorial on Private Residence Clubs, also known as fractionals, in the spring 2008 issue of LuxuryRealEstate.com Magazine. Check it out! The photos of the front and back of the “$1 million” bill are the copyright of Simon Davison.

By Jean-Yves Piton

With a devalued U.S. dollar against many other foreign currencies (i.e. Euro, Pound Sterling, etc.), now is the best time to invest in luxury real estate in the United States.

Whether this initiative is part of your diversification strategy or not, your property investment(s) in the United States will pay off in both the short and long term. Namely, your purchasing power is greater today in the United States and your ability to create greater returns in the future is increased tremendously.

To further exemplify present investment trends, I recently came across the following article “U.S. Real Estate Tops Foreign Investors’ List, Interest in Asia Grows” posted in the July 7, 2008 issue of www.Bostonsf.com.

The commentary reveals that, based on the results of the recent 16th Annual AFIRE Foreign Investment Survey, the U.S. real-estate market is at the top of global investors’ list.

Furthermore, “with 56% of the votes, the U.S. again emerged as the most stable and secure country for real-estate investment. No other country has ever come close to this number-one position. The second-ranking country has historically been the U.K., but this year Germany, with 10.5% of the votes, took that honor; Australia and the U.K., with nearly 9% of the votes, tied for third place.”

Agreeably, “this year, New York City and Washington, D.C. were named foreign investors’ top global cities. New York City leaped ahead by a substantial margin to be named the top global city, followed by Washington, D.C. and London in a tie for second place. Last year, New York City was ranked second globally and Washington was ranked fourth. Paris fell from second to fourth rank.”

Directly involved with global real estate on a day-to-day basis, I find such figures and trend eye-opening.


Editor’s Note:
Jean-Yves Piton is the Global Services Membership Manager for LuxuryRealEstate.com. He assists Bente Madtsen, the Director of Global Services, in expanding the LuxuryRealEstate.com brand into even more countries around the world. There are some wonderful opportunities available for U.S. buyers and sellers. One person’s downturn is another person’s bargain, so be sure to look for the good out there. The photo of the U.S. flag is from www.flickr.com/photos/tomsaint/2525886032 and it is the copyright of tomsaint11.

By Brian Langhorst

Lately, the keyword in advertising is international! Everyone wants international exposure as foreign currencies are very strong compared to the U.S. dollar. This strength presents great options for investors to come to the United States and purchase real estate. I agree that this is a great target audience, given the current situation.

I also wanted to throw out some facts from Forbes.com, which recently compiled a list of the top billionaires in the world. These facts drew my attention to the importance of continuing to market domestically as well as globally. Of the 1,125 billionaires in the world, 444 or 39.4 percent are citizens of the United States. This is by far the highest number of individuals in one country anywhere in the world. In your marketing campaigns be sure to reach out to both audiences.

There are several print magazines that do a very good job reaching both international and domestic buyers. LuxuryRealEstate.com Magazine, Unique Homes and Country Life all work very well. We are happy to help you design ads and market to these key groups. Please contact me with questions or to advertise: blanghorst@LuxuryRealEstate.com.

What are you doing to reach both domestic and international markets?


Editor’s Note:
Brian Langhorst is LuxuryRealEstate.com’s Membership Manager. He meets members’ unique needs through the dynamic services LuxuryRealEstate.com provides. In addition to these excellent publications, we also run group ads in The Wall Street Journal, and we have one coming up on June 27, 2008 that you can sign up for. Contact our Print Director, Courtney Jackson, for details.

By Robert Lockard

I originally planned on writing this blog entry earlier this week on the proposed settlement between the National Association of REALTORS® and the Department of Justice that would allow multiple listing service members to make private MLS information available to non-members. However, immediately after the story broke, plenty of real-estate bloggers came up with all sorts of reactions, positive, negative and neutral. Now I’m having trouble coming up with something to add to their expert opinions. I hope you’ll bear with me.

I’ll start by quoting Malcom Forbes (1919-1990), the father of Steve Forbes, current publisher of Forbes Magazine, “It's so much easier to suggest solutions when you don't know too much about the problem.” My knowledge of the MLS is certainly not as impressive as those who have already voiced their opinions, but I’ll just try to bring my thoughts to the table in an interesting way and you can feel free to correct me if I mistake some details.

It seems to me that this really shouldn’t be that big of a deal. I agree with what Geoff Lewis, Senior Counsel for RE/MAX International, said in Glenn Roberts Jr.’s Inman News article entitled “Blogosphere reacts to proposed NAR/DOJ settlement.” He basically said that a lot of the information that will be opened up to public use by this decision has already been made public through free online sites.

The majority of home buyers start their search for a new home online and so, if you think about it, they’re already finding the homes they’re looking for without needing to log on to websites controlled by MLS members. There’s a lot of free information already available online. For example, buyers don’t have to pay anything to search for luxury properties on LuxuryRealEstate.com, even though they can find more than 55,000 such properties in 100 countries on that site.

It’s advantageous for brokers to share information freely with buyers and sellers because then they can allow the right people to find the properties they’re seeking more quickly. At least that’s what I think.

As Mr. Forbes eloquently pointed out earlier, it’s easy to say what I think, but I might not have the whole picture. The MLS, which I understand is not a completely homogenized collection of listings but a variety of different ones in different formats, is not necessarily a public good. It was created by a private organization to give a competitive advantage to specific professionals, and there might be less of an incentive to provide this service if there are few limits to who can access it.

The Internet age is changing the way we think about many things, including marketing and real estate. But perhaps it’s still true that the more things change, the more they stay the same. Anyway, that’s my contribution to this wonderful exchange of ideas known as the blogosphere.


Editor’s Note:
Robert Lockard is the Public Relations & Media Specialist with LuxuryRealEstate.com. I am Robert. I create all of Luxury Real Estate’s newsletters, write the editorials in LuxuryRealEstate.com Magazine and much more. I welcome your input on this story. The Multiple Listing Service logo above is from: www.nsrealestate.ca/listings4.htm.

By Scott Rudolph

I’ve been a fan of Forbes since I helped usher in our first “Best of the Web” and “Forbes Favorite” awards back in the year 2000. Since then, we’ve continued to earn “Best of the Web” status and I continue to tune in. Recently, I noticed an analysis of America’s Recession-Proof Cities by Joshua Zumbrun.

Don’t fret if your community is not listed in this particular article, there are many more:
Rebecca Ruiz files a special report after extensive research regarding America’s Best Cities For The Outdoors and while we choose to provide our high net worth private clients some privacy, Lauren Sherman satisfies the curiosity of those insatiable for scoop regarding their favorite stars in Second Homes Of The Stars. The list goes on and on of course. At the end of the day, I find there are talking points and real estate opportunities everywhere. Remember, I’ve said it before and I’ll say it again: all real estate is global.


Editor’s Note:
Scott Rudolph is the Director of Business Development for LuxuryRealEstate.com. He works with a variety of luxury-focused companies to expand the LuxuryRealEstate.com influence. These Forbes lists are great for us to review and enjoy. Check them out!