Luxury Real Estate

By Serge Cowan of Unique Living, International Real Estate

“A renovation property opens up a whole new world”, says Serge Cowan, Managing Director at Unique Living. “Whether you intend to take on the project yourself or buy a property in the Algarve that has already had the work done, you certainly own something unique”.

Take for instance Quinta Cebeca de Vento (Day Dreamers Farm) at Almancil, Central Algarve, Portugal, the current owners have transformed an 150 year old Portuguese farmhouse into a stunningly beautiful, four bedroom villa for sale which is on the market for 1,509,954 Euros. With this property there is absolutely nothing for a new owner to do!

Located in a nature reserve the dedication of the owners over the last 10 years has resulted in an exceptional home where they have scoured architectural salvage sites for original fittings to add to their carved kitchen doors and cabinets from a 200 year old palace in Bahrain, and incorporated this with the local vernacular, to produce a truly spectacular property. Energy efficient, eco friendly and with a total rainwater conservation system, this rustic, yet bright and light home with massive stone archways, mezzanine, library, study, open fireplace and traditional terracotta doors and farmhouse style ceilings with natural wooden beams, is set in an acre of orchards and manicured lawns, ponds, terraces and pool.

For those more adventurous, there is a windmill with sea views in Carvoeiro, Western Algarve, Portugal. With sea views, this exclusive project in a prime location, offers great potential for building a unique home. The current project consists of a large villa, preserving the existing windmill. The property is in walking distance of the beach and amenities with a secluded plot and spectacular views. Plot available at 480,000 euros.

“It is important to remember that if you take on a renovation, you need time and patience”, adds Serge. “Falling in love with a derelict property in a prime location is one thing, seeing it through to fruition is another. Consider seriously the need to secure full planning permission before you commence and work out carefully the time and money needed to create your dream. It often helps to seek guidance from a good agent operating in the area who can offer advice based on local knowledge and perhaps suggest suitable builders and architects”.

Another property in Carvoeiro but totally different in concept, is a five bedroom, five bathroom home with pool totally renovated for 750,000 euros.

This is a traditional old style farmhouse fully renovated into a truly immaculate home.

The property is surrounded by country views and is within minutes of the International School of Porches and Horseback Riding School. Golf and local shops are nearby. The beach is five minutes as is the local town. The airport is just 45 minutes drive time.

The property has a swimming pool and garden. The home has beautifully appointed bathrooms and bedrooms and a handsome fireplace to main lounge.

By Robert Lockard

This is my last blog entry in this luxury real estate blog. After more than a year and a half of blogging, I'm afraid my time has come to an end. I'm about to move on to something new and scary, but I suppose change always involves some degree of fear and discomfort. I will no longer be the editor of the Luxury Real Estate Blog.

Thank you very much, everyone who has taken the time to share their thoughts on this blog. I'm sorry if I wasn't able to respond to all of your comments, but I definitely read them all and tried to incorporate what I learned from them into future posts. I have grown a lot in the past year and a half and I think you can definitely see that by going back through my many blog entries and seeing me try to articulate my feelings and ideas.

I don't know if I'll be able to respond to your comments on this blog entry, so I hope you won't be offended if you write me something and I am unable to respond for some time. Thank you again for sharing a wonderful discussion with me. I would say more, but once again I feel compelled to hold my tongue and simply encourage you to keep holding to hope in these perilous times. Don't put your trust in men, but build your foundation on something sure.

Farewell, my friends.

Sincerely,
Robert Lockard

By Cedric Choi

SEPTEMBER 2008 STATISTICS FOR SINGLE FAMILY RESIDENCES – HONOLULU, HAWAII
Honolulu Board of REALTORS’® Monthly Statistical Report for September 2008 (released October 1, 2008). Each month, the Honolulu Board of REALTORS® issues a statistical report analyzing residential real estate activity on the island of Oahu. In addition to the general island-wide statistics, following is information for select individual neighborhoods:

Waialae/Kahala – See page 8 of Monthly Statistical Report
The statistics for this month are significantly different from last month, it is amazing! Comparing September 2007 to September 2008, the median price for a home in 2008 was down 33.3% (the same comparison for August 2007 and August 2008 showed the median price was up 37.8%). For the year-to-date statistics for January through September of 2007 versus January through September 2008, the median price for the neighborhood was up 7%.

Diamond Head – See page 8 of Monthly Statistical Report
The statistics are not specific (as provided by the Honolulu Board of REALTORS®), since the Diamond Head area (a high-end neighborhood) is mixed into the Kapahulu area (a moderately priced neighborhood). For the Kapahulu-Diamond Head area, the median price decreased by 3.3% compared to the same month in 2007. For the year-to-date (January through September of 2007 compared to 2008), the median price decreased by 3.3%.

Kailua-Waimanalo – See page 8 of Monthly Statistical Report
September 2007 compared to September 2008 had a -14.1% increase in the median price. Comparing January through September 2007 and the same period in 2008 shows a decrease of 4.9% in the median price. 



Other Specific Neighborhoods – There is no substitute for market information from people who are qualified and who know your market. The best way to view a specific neighborhood is to have your agent prepare and review a Comparative Market Analysis with you. For example, the MLS service permits us to do searches within very discrete Oahu neighborhoods, including Kahala/Black Point, Diamond Head, Ala Moana/Kaka’ako, Waikiki/Gold Coast, Hawaii Kai/Portlock, Hawaii Loa Ridge, Kailua/Lanikai and the North Shore.

It has been our experience that the neighborhoods that we concentrate on are less volatile than the market as a whole, which is down about 10%. Part of that involves the worldwide demand for spectacular luxury properties in outstanding locations.

Relative to the overall Oahu market, according to Harvey Shapiro, the Research Economist for the Honolulu Board of REALTORS®, “It appears that the Oahu housing market is reacting to the economic crisis that has been affecting financial markets worldwide.”


Editor’s Note:
Cedric Choi is the Vice President and Administrative Manager of Choi International, a member of the Luxury Real Estate Board of Regents. As a practicing attorney for more than 25 years, Mr. Choi has principally concentrated in areas involving commercial matters. Very interesting blog entry. Every one I post on the Luxury Real Estate Blog seems completely distinct in both tone and voice from every other. You can see similarities and fun little patterns when you read one person’s blog entries over a period of time, but it’s also fun to get a breadth of styles and information from a bunch of different sources, as well. Be sure to visit www.ChoiRealty.com for more resources on buying a luxury home in Hawaii.

By Jim Walberg
From his blog: Some East Bay Real Estate Is On The Slippery Slide Of FEAR!

Once you get on the Slipper Slide of Fear, it is difficult to get off! Please stay off that slippery slide!

So, I picked up USA Today last Saturday on my flight to the Luxury Real Estate Fall Conference in Philadelphia where I was a presenter. The USA Today headline was, “FEAR is a slippery slide!” In some of my past comments I have used the sailor’s mantra, “Do not be fearful!” It still applies today, in spite of an almost 900-point recovery on the Dow Jones the past two days. Don’t forget… once you step on the “slippery slide” of fear, the momentum carries you away very quickly.

The voice of experience, the voice of the local authority, and the voice of credibility can still prevail. And we are the ones that need to be that voice. I just completed a walk from the Philadelphia Ritz Carlton to Constitution Hall, the Liberty Bell, and other reminders of the work our founding fathers did on our behalf 230+ years ago. What an inspiring day! (You may recall this is the organization that is the acknowledged authority of luxury real estate! It was founded by John Brian Losh with a vision of connecting the best luxury brokers and agents in the world – 1,900 members from 65 countries.)

Do you think they were afraid? Of course they were. But, the consequence of letting fear paralyze them from action was not acceptable. Instead of the “slippery slide” of fear taking them away from the liberty and freedom they so dearly wanted for our country, they discovered – step by step – the actions needed to create the most incredible democracy in our world’s history. It was very hard. Thousands of lives were lost as part of that payment for liberty. And, the founding fathers never lost site of end result that was required – FREEDOM!

There is a book I have enjoyed reading several times – “The Tipping Point.” They have a very insightful analysis of Paul Revere’s ride in Boston a few days before the Revolutionary War was officially declared. His ride was so effective that it mobilized the citizens along his route in a manner that called them to action in stopping the British from confiscating their arms stored in Concord. Did you know there was a second rider who was sent in a different direction to alert another section of Massachusetts to immediately prepare to defend Concord. Does anyone remember his name? In fact, I had never heard of him before I read “The Tipping Piont.” He was totally and utterly ineffective in his call to arms.

What was the difference between these two men with similar intentions? Paul Revere was one of the most respected local authorities on what was happening within the colonies which he believed required a liberation movement to break away from British rule – even if it meant war. I would like to be as effective as Paul Revere during these uncertain economic times. We are the local citizens calling our “citizens” to action in order to work through the financial crisis we are in. Will you join me as we serve our clients and communities, and help them off the “Slippery Slide of Fear?” (You get bonus points if you email me with the other freedom rider’s name whose ride was a waste of time.) Contact me with your thoughts. Until next time…


Editor’s Note:
Jim Walberg is the co-Broker/Owner of The Bay Area Team, the most-successful team at Keller Williams Realty-Danville. He is also a member of the global Luxury Real Estate network. Jim is an exceptional blogger, as you can see by visiting his blogs, East Bay Real Estate and Caribbean Islands Realty, and reading his great blog entries like the one above. He is the master of fractionals and other luxury homes in the Bay Area and the Caribbean, and he always has a lot of great opportunities to share. Simply marvelous. This is the last blog entry from Jim that I will have the privilege of editing and posting to the Luxury Real Estate Blog. I am always impressed by his enthusiasm, cheerful disposition and unparalleled kindness. Thank you, Jim, for being such a good person and being a light to a world of shadows and fear. You are amazing.

By Christine Watson
From her blog: Hide Your Personals! Protecting your privacy when selling your home!

Putting your luxury home on the market poses two very personal concerns:

1. Invasion of privacy: that your personal life will be on show;
2. Theft: your personal effects are prey to any “prospective” buyers

De-clutter your property before placing it on the market: this is my first piece of advice for those vendors concerned with their privacy being publicised to the world.

To some it means removing everything from bench tops, cupboards and shelves and to others it means keeping the home clean, neat and tidy. But how do you protect your privacy and hide your personal items?

Your home generally depicts your personal life, showing your taste in furnishings, colours, art, antiques and family photographs. Is opening your home to the public an invasion of your privacy? Absolutely!

 

The experience of Marquette Turner Luxury Homes shows that people buy the home that “ticks most of the boxes”. When selling your home, you should take the distractions away so the buyer can concentrate solely on looking at your home.

Furthermore, we are not great advocates of open inspections in a troubled market and it is important to appreciate that household-contents insurance does not cover the loss of personal effects during a viewing of a property. Remove the opportunity for theft and protect yourself as if you were a celebrity like Nicole Kidman, Tom Cruise or Hugh Jackman.

Selling your home can be stressful enough without the concern that someone is taking an interest in your personal life and possessions.

Marquette Turner Luxury Homes we will not allow anyone to view your home without showing their photo identification. If someone objects they are not respecting your home and are not serious about buying the property. Only a luxury agency can truly protect your privacy.


Editor’s Note:
Christine Watson is a Director of Marquette Turner Luxury Homes, a member of Luxury Real Estate in East Sydney, New South Wales, Australia. Founded on Australia Day 2007 by Michael Marquette and Simon Turner, Marquette Turner is a property consultancy company covering the Australian states of New South Wales and Victoria. Along with Marquette and Turner, now we have a new blogger providing excellent content for the Luxury Real Estate Blog. Wonderful! Thank you very much for the excellent advice, Christine. Don’t forget that both sellers and real-estate agents are at risk at open houses, so it’s best to be as safe as possible. The photo above is from www.flickr.com/photos/jef/1526987585 and it is the copyright of Jef Poskanzer.

By Robert Lockard

In the winter 2009 issue of LuxuryRealEstate.com Magazine (this link will start working in December 2008 when the magazine is published) I wrote an article entitled “Seeing Green: Living eco-friendly without sacrificing luxury.” In that article I mentioned a number of links and resources awaiting readers online. As promised, here they are! Check out the following Web sites for valuable information on what you can do today to start enjoying the benefits of “green” homes. In addition, I included links to the personal blogs/sites of the five Luxury Real Estate members and Eco-Brokers who I interviewed for this article. They were very helpful in the writing process and I’m sure you’ll find them to be extremely helpful in the home buying and selling process:

“Green” Organizations and Resources
www.buildinggreen.com: An independent publishing company focused on “green” building materials and methods.

www.builditgreen.org: A nonprofit dedicated to promoting “green” building in California by providing education, professional directories and more.

www.builtgreen.net: The Built Green™ logo signifies a property meets rigorous “green” standards. Based in Western Washington.

www.earthcrafthouse.com: Founded in 1999, EarthCraft House™ certifies new homes in Georgia, Alabama, South Carolina and Virginia as “green” based upon high standards.

www.greenhomeguide.org: Sponsored by the U.S. Green Building Council, this site offers a variety of resources for “greening” your home.

www.lowimpactliving.com: A tool for setting realistic goals based on your budget, location and other factors.

www.nahb.org: Formed in 1942, the National Association of Home Builders provides in-depth data on housing trends, including “green” homes.

www.southeastgreen.com: A user-friendly directory of businesses offering “green” products and services in the Southeast United States.

www.usgbc.org: Official site of the U.S. Green Building Council, a nonprofit composed of leaders from every sector of the building industry, which provides LEED™ standards for homes, businesses and more.



Blogs/Personal “Green” Sites:
www.cottenalston.com (Cotten Alston’s personal site)

www.roseannblacher.com (Roseann Blacher’s personal site)

http://maringreenrealestate.blogspot.com (Jonathan Marks’ blog, the only “green” blog in Marin County)

www.thebuckheadblog.com (Carson Matthews’ blog)

http://welcomehomegreen.typepad.com (Hannah Tai’s blog)

By Robert Lockard

I have some very fun news to share. A new TNT movie starring Oscar® winner Cuba Gooding Jr. is currently filming in the Detroit area, and part of the filming is being done at a waterfront luxury home on Windmill Point Drive in Grosse Pointe Park. This property is being represented by Higbie Maxon Agney, Inc. Realtors, a member of Who’s Who in Luxury Real Estate and the Board of Regents.

Check out this wonderful story in the Grosse Pointe News that I received earlier this week. Sorry I don’t have a link to the story online. Apparently, that newspaper doesn’t post some of their stories on their Web site, but luckily I have a PDF version of the printed article.

The movie is called “Gifted Hands: The Story of Ben Carson” and it follows the life of Ben Carson, born into poor conditions, who was able to lift himself up and become a famed pediatric neurosurgeon. It’s scheduled to debut on TNT on Feb. 7, 2009. I love inspirational stories about good people triumphing over difficult circumstances. Actually, this discussion reminds of a blog entry that Jim Walberg, the co-Owner/Broker of The Bay Area Team, just wrote about not giving in to fear despite our difficult financial market.

The luxury property on Windmill Pointe Drive is quite remarkable. It includes near two acres of land, its own private dock and 12,000 square feet of living space for $7.3 million. If you’d like more information, you can contact Heather Adragna Ulku or check out this brochure on the property.


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. Feel free to share your good news like this with us, as well. I love reading and writing good stories for the Luxury Real Estate Blog. The photo of Cuba Gooding Jr. is from www.flickr.com/photos/rafamado/2635448556 and it is the copyright of Rafael Amado Deras.

By Jim Walberg

From his blog: Economic Meltdown Causes Fear In East Bay Real Estate Community!

No matter how positive and resilient one is, we are in stormy economic times! However, opportunities abound in the midst of this economic hurricane!

I was chatting with my friend, Bob Waun – president of Vacation Finance, which is headquartered in Michigan – about the financial meltdown going on in the credit markets and the stock markets. He asked if I was afraid for what is next for our real estate businesses in the Bay Area and the Caribbean. I told him, “Nah… we are still having the time of our life!” The mantra of a sailor is…, “Do not be fearful!” And, the definition of FEAR is False Evidence Appearing Real! If you didn’t know, my favorite condition in sailing is with the gunnels (side rails on each side of the boat) in the water and salt water spraying all over me. You can’t imagine the big grin on my face while I am sailing in those conditions. However, it is not the time for the faint of heart if you are a sailor in stormy seas. It is the time when experience pays off.

Both our Bay Area and Caribbean real estate businesses are thriving… however, it is taking all hands on deck to pull it off. We are blessed with a great team who only look at the glass half full, and are committed to creating a GREAT experience for our customers. Many of our competitors are running down to Starbucks talking about how the sky is falling. The vacuum they are leaving within our real estate community is amazing, and whoever fills that void today will have a larger market share when the market shifts again – which it will. In order to make it through these tough financial times we all need to work together, side by side, realizing storms don’t last forever. At the end of Bob’s and my conversation, he left me with these thoughts:

Faith, beliefs and conviction can be fickle friends when they are tested by panicked masses. “The end is near!” seems to be the chant of the crowd across the world today. But what of substance has changed within our global economy. Did a world of Fathers change their commitment to feed and clothe their children? Did Mothers decide that the generic brand cereal would be fine in mass? Did we stop wanting nice things and suddenly over the weekend decide to settle for less? What is the shift that causes such a panicked response? What fundamental changes are causing us to doubt the future? Purely fear of what “MIGHT” change. Does that sound rational to you?

Historians and economists can attest that humans don’t always act rationally en masse, but as individuals we can still choose to be rational – to act out of faith and conviction, not panic. ”Looking back on it, I was a trader in the pits of the S&P in 1987. It was the most exciting and profitable stock market opportunity of my lifetime,” a friend told me today… Did he notice it at the time? No. He said he was scared to death, but he kept at his work of trading stocks in the best way he could. Life is clearer in the rearview mirror. Regret is more painful than overcoming fear…

In a storm, it is not time for people to jump ship and swim to safety. A storm is the time for experienced sailors to do their work and sail through it. It doesn’t mean we are not afraid. However, it does require us to not panic – which could cause our ship to go down. I promise we will all will make it through this economic mess. We may get wet and a bit wind-blown, but working together, we will get to a safe harbor and live to see another day when we will look back and tell the stories of how we made it through the storms of 2008 and 2009. Contact me today if you would like some help through your storm. Until next time… fair winds!!!


Editor’s Note:
Jim Walberg is the co-Broker/Owner of The Bay Area Team, the most-successful team at Keller Williams Realty-Danville. He is also a member of the global Luxury Real Estate network. Jim is an exceptional blogger, as you can see by visiting his blogs, East Bay Real Estate and Caribbean Islands Realty, and reading his great blog entries like the one above. He is the master of fractionals and other luxury homes in the Bay Area and the Caribbean, and he always has a lot of great opportunities to share. Such wonderful words of hope! Thank you, Jim, for your marvelous understanding of what is really happening in today’s market. People are filled with great fear at the moment and it’s hard to know what to do when we’re in the middle of so many crashing waves. I trust that wisdom and goodness will lead us to prevail over these hard times. I hope that we will all be wiser about who we put our faith in after we come through this. I am in total agreement with Jim that this is no time to panic or jump ship. Let us return to honesty and kindness, for it appears to me that this crisis was brought on by the dishonesty and selfishness of a few. Now people don’t know who to trust. I hope we will all be trustworthy and good, like I know Jim is.

By Serge Cowan

Cyprus offers a superb tax system whereby foreign pensions will only ever be taxed at 5 percent – maximum. “This is exceptional,” says Serge Cowan, MD at Unique Living, specialist property agents offering supreme luxury and lifestyle homes around the world including luxury homes for sale in Limassol.



“When looking for a retirement home, one has to consider not just what the country has to offer but also where you stand financially. Cyprus must come high on people’s agenda because it has so many benefits”.

In some countries you could be paying tax in your home country on pension income of 40 percent or even higher, so the 5 percent is something that really needs to be taken into consideration when buying abroad.

Cyprus also has many other benefits: good year-round weather, low crime rate, you drive on the left, a cosmopolitan atmosphere, quality golf courses, European Union membership and superbly located at the east end of the Mediterranean, providing convenient access to the Middle East and Far East as well as Europe.

In addition, the Government of Southern Cyprus is making big strides to be a serious contender in the world of “movers and shakers.” Developments are increasingly for the luxury market, and soon to be released is a Marina Resort in Limassol. This is to include a manmade island for residential villas, plus there is rumoured to be a 5-star hotel and berths for 600 privately owned boats. All of which is to be in the heart of the old town of Limassol and its rapidly growing commercial and business centre.

“Southern Cyprus is rapidly changing and those who are astute can be part of this altering picture – one that is creating a supremely elegant and sophisticated island to appeal to discerning buyers from around the world. A shrewd buyer looking at the current market place will not be disappointed with Cyprus and in particular luxury real estate in Limassol,” concludes Serge.


Editor’s Note:
Founded in 2002 by Serge Cowan and Sophie Hammond, Unique Living’s portfolio of luxury properties for sale includes new property developments, resale property, villas, townhouses, penthouses and apartments in prime locations around the world. Unique Living is headquartered in London and it is a member of Who's Who in Luxury Real Estate. Let’s see, in the past week or so we’ve received blog entries on Costa Rica, Mexico, the Caribbean, Australia, Vanuatu, France and now Cyprus. This is very exciting. Keep checking the Luxury Real Estate Blog for great information like this. Also, feel free to submit your own blog entries for consideration. The photo of the Limassol, Cyprus shoreline is from www.flickr.com/photos/mamchenkov/281322233 and it is the copyright of Leonid Mamchenkov.

By Todd Cutter

Breathtaking beaches, stunning rainforests teeming with wildlife, pristine waterfalls, lakes, and rivers, along with endless activities ranging from adrenaline-boosting eco-adventures to soothing relaxation in some of the worlds premier resorts are just a few of the reasons why Costa Rica has become a Mecca for vacationers, retirees and investors from the world over. Costa Rica’s stunning natural beauty and abundance of wildlife are matched only by the warmhearted and peace-loving people who call this paradise home.

The unique combination of tropical rainforests, stunning beaches, active volcanoes, world-class surfing, an array of adventure activities,  some of the world's most breathtaking rivers, waterfalls, and other dazzling natural phenomenon have made Costa Rica an ideal location for travelers from all walks of life, looking to rediscover the natural wonders which inspire us all. In recent years, Costa Rica has also become increasingly well-known for its investment potential, stable democracy, inexpensive cost of living, first-class health-care system, and overall lifestyle it can offer the international community.

With an environment of enormous potential, Costa Rica has investors, retirees, as well as vacationers from all over the globe flocking to seize on the opportunities to own their own piece of this tropical paradise. Whether you are looking for a vacation getaway for you family, a rental property offering secure annual returns and appreciation, or the retirement spot of your dreams, Costa Rica offers the answer.

Finding a more complete destination is nearly impossible. To have such a spectacular natural backdrop, without sacrificing a peaceful and stable democracy, tremendous investment potential, a fantastic health care system, booming tourism, and an ever-expanding infrastructure makes Costa Rica a truly unique destination for investors, vacationers and retirees alike.


Editor’s Note:
Todd Cutter is a real-estate agent with 2Costa Rica Real Estate, a member of Who’s Who in Luxury Real Estate. Originally from Birmingham, Ala., Cutter came to Costa Rica in 1998 after graduating from the University of Colorado at Boulder with a degree in Spanish for International Business. Upon his arrival, he founded an online travel business. Although his travel business is still in operation today, he sold the business to dedicate all of his time and energy to 2Costa Rica Real Estate. He specializes in large development parcels, hotel development and marketing programs for developer partners. Another LuxuryRealEstate.com member has submitted content to the Luxury Real Estate Blog. This is wonderful. That’s a lot of praise for Costa Rica! I’ve been hearing quite a bit about great investments to be found in that beautiful country. Maybe that would be a good place to seek your new luxury home.