Blog contributions are provided exclusively from Luxury Real Estate members throughout the world.
Courtesy of The Dawn Thomas Team
While not a new concept for veteran real estate agents, the terms “off-MLS” or “pocket” listings may be an unfamiliar phrase to many consumers and some newer agents. Home sellers and agents should nevertheless be aware that the practice can adversely affect their goal of getting the best price reasonably possible for their homes. As many as 10-15 percent of homes offered for sale today are “off-MLS” listings, according to one Multiple Listing Service (MLS).
If you’re considering selling your home, think about the advantages and disadvantages of pocket listings. If you’re thinking about selling your home and want to know more about Off Market Listings contact The Dawn Thomas Team today.
What is an “off-MLS” listing?
Simply stated, an off-MLS or pocket listing is a property that is marketed without the benefit of being listed for sale on the MLS (i.e., “hidden” in an agent’s pocket). A property that is listed on the MLS has the advantage of being actively marketed to every real estate agent who belongs to that MLS and, through those agents, to their vast network of potential buyers looking to make an offer to purchase the property. Active marketing on the MLS usually includes open houses, broker tours and inclusion of seller’s property in the MLS’s download to various real estate sites commonly used to search for properties.
On the other hand, as the term implies, an off-MLS listing generally is marketed by a single agent to one or a select few potential buyers. However The Dawn Thomas Team not only has a 40 point Marketing Action Plan that can be amended to Off-Market listings, we also have Luxury Home Marketing strategy.
Are off-MLS listings illegal?
No, if the correct forms are filled out and consent by you, the Seller, is given.
Why would a home seller agree to an off-MLS listing?
Off-MLS listings sometimes are requested by celebrities, judges, prosecutors, or others who wish to maintain their privacy and/or limit viewing of their property to a select individual or individuals with the financial wherewithal to purchase.
Are there reasons a home seller should avoid an off-MLS listing?
Off-MLS listings also may impact real estate values on a larger scale. Property price evaluations completed on behalf of mortgage lenders – more commonly known as “appraisals” and a vital precursor to a homebuyer obtaining a mortgage loan – may be affected in communities where there are a significant number of homes being offered as off-MLS listings. That’s because not all off-MLS listings are entered into the MLS database once a property is sold. Without this critical information, it is more difficult for real estate agents and their sellers to determine a listing price, for agents and their buyers to decide how much to offer for a property, and for appraisers to determine the current market value of a property.
What should I do if an agent approaches me with an offer to sell my home as an off-MLS listing?
Ask The Dawn Thomas Team about the pros and cons of selling your home off-MLS. One advantage is that your listing remains private if you wish to maintain privacy. However, a disadvantage is your home may not be exposed to the full population of available buyers, which means there may be less competition among fewer buyers, resulting in a lower selling price.
If you decide to list your home off-MLS, your agent may ask you to sign a standard seller exclusion form (Seller Instruction to Exclude Listing from the MLS or C.A.R. Form SEL). Be sure you fully understand what you are signing and the adverse consequences outlined in the form of not listing your property on the MLS.
*article provided by California Association of Realtors®
Courtesy of Luxury Homes by VAPF
According to the well-known ‘A Place in the Sun’ magazine, Spain has once again come top as the favourite British destination for buying a holiday home, ahead of neighbouring France, Portugal, Italy, Florida, Turkey and other Mediterranean locations.
The results of the study carried out by the British publication, specialized in overseas properties, situate the Spanish coast as the most popular location for second homes, having carried out a worldwide research on the standards of living and the property options available in each country. Hundreds of the magazine’s readers and visitors to the exhibitions they organize have pointed out their reasons for purchasing their dream hideaway home in Spain and the survey also reveals the costs involved in buying and owning a house in this sunny country. The result is that Spain tops the chart of the best places to buy abroad in 2011, with all the right ingredients: a great transport network that makes travelling to and from Spain extremely easy, an extensive cultural offer, well-established infrastructure and, of course, the fundamentals, sun, sea and siesta!
France comes on the list as a close second, followed by the other European countries of Portugal and Italy. Florida has dropped to 5th position from 2010’s second place, then its back to the European continent to Turkey, in 6th place, Greece, in 7th, and the Mediterranean island of Cyprus in 8th position. Finally, the 9th and 10th places are taken by two new entries, Malta (which officially is the most crowded country in Europe) and Egypt, with countless new developments bordering the Red Sea.
Don’t miss out on the trend of owning a luxury seaside villa in Spain and take a look at the kind of properties that you can enjoy in 2011’s ideal destination by logging on to the Luxury Homes by VAPF website, www.luxuryhomesinspain.com.
The multi-award-winning Eichardt’s Private Hotel in Queenstown has been bought by a privately-held investment group based in Melbourne, Australia. The Imperium Capital Group has a range of businesses within its portfolio including a number in the hospitality and leisure sector. The sale, which was brokered by Terry Spice of Luxury Real Estate New Zealand was a result of an international marketing campaign which drew strong interest both domestically and from offshore. Christchurch-born Managing Director of Imperium Capital Group, Andrew Cox, said they were passionate business operators looking forward to continuing to build the Eichardt’s brand and existing luxury services, and working with other luxury partners in Queenstown. “This purchase was a strategic investment in an iconic brand in tourism in New Zealand,” he said. “We’re open to looking at other acquisition opportunities in the country now we’ve made this first step.” Mr. Cox said management at Eichardt’s Private Hotel would remain the same and stressed that the company was dedicated to the staff, the community, and retaining and building upon Eichardt’s standing as an iconic destination on the Queenstown waterfront.
The 9th edition of the Millionaire Fair (Miljonair Fair), held in Amsterdam between the 9th and the 13th of this month, has proved to be a total success, with a record number of visitors and sales. Over 53.000 people attended the exhibition of luxury items and the media turnout was also high: more that 400 Dutch and international television and radio stations, magazines, newspapers and internet sites broadcast news of the event as it took place.
Over 5 days, the RAI exhibition centre in Amsterdam became the home of luxury goods from exclusive international brands. The latest models of Mercedes, Jaguar, Mini, Land Rover and Jeep were on show for the visitors to experience first hand, along with many works of art, including paintings and sculptures with a limited production which are collector’s items. Boats and yachts, the latest hi-fi equipment by Bang and Olufsen, furniture and accessories, …, the list and choice of luxury products was endless.
Gassan Diamonds had the biggest stand: 850 square meters worth of very expensive jewellery and watches, by prestigious brands like Chopard, Cartier, Chanel, Omega, Tag Heuer, Rolex, Jaeger LeCoultre, Breitling and many many more.
In addition to the stands, the fair also provided top quality catering services with a Laurent Perrier champagne bar, an oyster bar and a wine bar amongst others. Fashion shows and live music followed one another throughout the day, providing entertainment for everyone.
Luxury Homes by VAPF, the Spanish real estate developer and builder affiliated to the Luxury Real Estate Network, was present at the event, within the Exclusive Properties section of the fair. The stand attracted the attention of many clients due to the image on the back wall of the stand showing one of the modern villa projects that Luxury Homes by VAPF has designed. The Hi-Tech villa designs are extremely popular with the Dutch market, as we had the chance to ascertain.
Next year will be the 10th anniversary for the Millionaire Fair in Amsterdam and the organization is already booking stands for the event, which will take place between the 8th and the 12th of December, 2011.
The new Alicante airport, known as the El Altet international airport, will be the most modern structure of its kind in Spain when it opens in February 2011, with a capacity for 20 million passengers per year, almost doubling present day numbers.
With the opening of the new terminal, El Altet’s luxurious facilities will cover an expanse of eight floors, topped by twenty spectacular large glass domes. The overall investment in extension work is around 670 million euros and the area has increased sixfold (from 54,800 square meters to 333,500 square meters).
The new airport terminal in Alicante will have an upgraded shopping and commercial area which will include a restaurant owned by the prestigious chef Quique Dacosta, awarded with two Michelin stars. Dacosta's restaurant, called the “Air Tapasbar” will provide a higher quality level and cachet that the previous airport lacked. Quique Dacosta was born in Cáceres, in the west of Spain, but has nevertheless made the Alicante province his home, thanks to his establishment “El Poblet” located in Denia town on the North Costa Blanca.
This commitment to increase the quality of airport services denotes a higher quality of tourism that this area of the coast, the Costa Blanca, is now receiving, as it emerges as the new destination for luxury home buyers.
By: Puget Sound Business Journal - Jeanne Lang Jones
Courtesy of: Realogics Sotheby's International Realty
The two-story penthouse atop the Four Seasons Hotel and Private Residences in downtown Seattle has been sold for $7.19 million.
The 5,256-square-foot unit sold earlier this week as an unfinished shell for approximately $1,368 a square foot. Finishing the interior could cost anywhere from $200 a square foot on up, depending on what level of finishes the new owner wants, said Scott Wasner, director of the Four Seasons Private Residences and co-founder of Realogics Sotheby’s International Realty.
When the project opened, prices for finished units were running between $2,100 and $2,400 a square foot. Prices were later lowered by roughly a third to help spur sluggish sales.
There are 11 condo units remaining in the 36-unit project. Wasner said there were “a couple of deals in play” for the remaining units.
Realogics picked up representation of the Four Seasons Private Residences in August, partly because of the firm’s exposure to foreign buyers who have been displaying interest in high-end properties in the U.S., said Realogics principal Dean Jones.
“A large reason why we associated with Sotheby’s was to optimize our client listings for the international and interstate audience,” he said.
While he wouldn’t disclose whether the penthouse buyer was from another country, Jones did say several recent high-end sales on Mercer Island have involved foreign buyers. Additionally, about a fourth of the sales in the single-family homes and condominium projects his firm represents are to foreign or out-of-state buyers taking advantage of softer pricing and a weak dollar.
“Sales are good for the project — proceeds go to pay off obligations,” said Bill Lewis, CEO of the Seattle construction firm Lease Crutcher Lewis. The company has several liens against the project as it waits, along with several other companies, to be paid for its work on the project.
“We still have some things to work out with our client there and are working diligently on that and making progress,” Lewis said.
Read more: Four Seasons penthouse sells: $7.2M | Puget Sound Business Journal
View this exclusive home on LuxuryRealEstate.com: http://www.luxuryrealestate.com/residential/1605399-tropical-paradise-palm-beach-florida-united-states
Fashion designer and socialite Lilly Pulitzer has listed her Palm Beach, Fla., home for $11.5 million. The main house has large arched windows and several loggias. There are nine bedrooms divided between the main house, a casita and a pool house, all situated amongst tropical gardens. The estate has a swimming pool and is decorated in Ms. Pulitzer's colorful style.
Ms. Pulitzer designed the living spaces around the trees and gardens on the property. "It's just magnificent," says Ms. Pulitzer. "But I'm old and I'm cranky and I can't keep it up the way it should be."
Ms. Pulitzer rose to fame when Jacqueline Kennedy was pictured wearing one of her dresses. Her style became synonymous with the preppy look and has had a resurgence in recent years. Liza Pulitzer, Lilly's daughter, and an agent with Brown Harris Stevens, a Christie's Great Estates affiliate in Palm Beach, has the listing.
For full article click here
By Kirsty Bryson from Luxury Homes by VAPF
The brand new “Seabourn Sojourn” ultra-luxury cruise ship from the prestigious company Yachts of Seabourn, called in the port of Valencia city in Spain for the first time on Thursday the 14th of October. To celebrate the special occasion, the Valencia Port Authorities presented the captain of the ship, Karlo Buer, with a commemorative plaque.
The captain said it was not his first visit to Valencia, and recalled its "excellent climate" and the proximity of the port to the city centre. This new stop off has now included Valencia on the list of ports of call for all luxury cruise ships travelling the Mediterranean Sea and is proof of the high standards of services and quality of life in the area. In fact, the coastal stretch between this city and the city of Alicante, further south, is becoming increasingly popular as the chosen location for the rich and famous to establish their luxury homes in Spain.
Launched last June in London, the vessel offers high quality, extensive features and multiple services on board including two outdoor swimming pools and six outdoor whirlpool spas, four restaurants and six bars and cafes, a fold-out Marina providing water sports facilities for passengers to practice several different aquatic sports, an indoor pool plus gym and spa treatment area, and even a mini golf course along with nine decks.
In fact, although it has a length of 198.2 meters, a width of 30 meters, a gross tonnage of 32,346 tons and a draft of 6.6 meters, it only has 225 ocean view suites with a capacity of 450 passengers. With virtually one staff member for every guest, Seabourn provides an unmatched level of service and cruising experience. The yacht arrived in Valencia with 327 crew members and 438 passengers on board, having paid between $ 8,000 and $ 22,000 to travel on the luxury ship.
This cruise is the sister ship of the already in service "Seabourn Odyssey" and the "Seabourn Quest" which will be operational as from next year.
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
Todd has a passion for sailing. As a child he was taught to sail by his Grandfather and his Dad. At the age of 16, Todd achieved his Captains Ticket. He then began to manage and operate his family's charter boat business in Lunenburg. As a young man Todd sailed the Caribbean in the winters and our beautiful South Shore waters in the summer.
In 1987 Todd studied Travel and Tourism in London Ontario. In 1991 he received his Diploma in Sales and Marketing from the Nova Scotia Community College. Over the last 20 years Todd realized that the right career for him was real estate.
Todd is a member of the LaHave River Yacht Club and has served on the Executive. When asked what it is he loves about the South Shore, he replies "To see the South Shore of Nova Scotia is to know you're in paradise but to see it from the water is to know you are home."
Todd brings unparalleled customer service to Tradewinds Realty before, during and after the sale. Todd looks forward to helping you buy or sell and takes pride in making your next real estate ventures a pleasurable experience. Please call Todd, 902-212-1393, or drop by Tradewinds Bridgewater office, 673 King Street, to review our extensive property Display Gallery.
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