Luxury Real Estate

By: Malone Hodges of Carmel Realty Company

Every Realtor has heard a variation on the story of a buyer coming to them with an offer that goes beyond a creative financing proposal. Occasionally it is a straight trade for property elsewhere but on occasion the buyer might propose a trade for an airplane, a time share plus cash, and in at least one case I know of a race horse. While these deals can certainly be complex, they are becoming more common and may often be the only way a deal that is beneficial to both the buyer and seller can come together. With the increased difficulty in securing financing, well qualified buyers are looking at how they can convert existing assets into cash to make a purchase. With a trade, the buyer forgoes the step of liquidating the asset to create cash for the purchase, and offers the asset instead.

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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 Michael Marquette
From his blog: Australia’s most expensive apartment SOLD in Potts Point

Potts Point in Sydney has achieved Australia’s record apartment price with a $20 million penthouse sale.

An undisclosed “prominent Sydney businessman” bought the apartment off-the-plan after the Sydney City Council approved the development on Monday.



The two-level penthouse, with views across Woolloomooloo Bay towards the central business district, Sydney Harbour and the Opera House, will have 530 square metres of internal space and 115 square metres of balcony.

The Wylde Street sale trumps an $18.2 million off-the-plan penthouse sale in East Melbourne and the $16.8 million Sydney record sale in Macquarie Street’s Bennelong block earlier this year.

The Ashington Group, chaired by mortgage broker Mark Bouris, bought the development site for $15.5 million last year, indicating it viewed Potts Point as one of the true urban villages of Sydney.

“The sale was a sign that buyers will act quickly for distinctive apartment product,” Ashington’s director, Craig Minahan, said yesterday.

The design by architects Tzannes Associates echoes the curved glazing and copper roofing in the neighbouring 1930s heritage-listed Wyldefel Gardens residential complex.

The nine apartments included in the development with the penthouse will have interiors by fashion designer Alex Perry.

Interestingly, the Australian newspaper incorrectly quoted the apartment as being in Point Piper, not Potts Point.


Editor’s Note:
Michael Marquette is the co-Founder and 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 Marquette and Simon Turner, Marquette Turner is a property consultancy company covering the Australian states of New South Wales and Victoria. Marquette has a background in medicine and a large retail and wholesale business. Marquette and Turner just can’t stop providing excellent content like this for the Luxury Real Estate Blog. People are still interested in purchasing luxury properties for the right price. Keep looking for good news and you’re sure to find it.

By Brian Langhorst

Who’s Who in Luxury Real Estate, a worldwide membership organization, publishes LuxuryRealEstate.com Magazine as an additional advertising opportunity for our invitation-only membership. This industry-leading magazine can be seen in over 40 countries around the world as well as in luxury service providers, storefronts, spas and boutiques throughout the United States. Our next issue will be for winter of 2009.

I highly recommend advertising in this dynamic marketing piece as an effective way to reach high-net-worth investors and buyers through both online and print advertising. We continue to see print advertising driving Web traffic!

The reservation deadline to advertise is: September 26th.

Materials are due by: October 1st.

Please contact me with any questions on how you can reach our high-net-worth audience through membership: BLanghorst (at) LuxuryRealEstate.com


Editor’s Note:
Brian Langhorst is LuxuryRealEstate.com’s Membership Manager. He meets members’ unique needs through the dynamic services LuxuryRealEstate.com provides. As the author of the “green” homes editorial and the City Spotlight on Nassau, Bahamas in the winter 2009 issue of LuxuryRealEstate.com Magazine, I can vouch for the quality of this publication. We publish the magazine in print and online to reach a broad audience. Don’t miss out!

By Michael Marquette
From his blog: Luxury Homes Fail to Sell at Auction

It has always astonished me how many real estate agents advise everyone they meet to auction their home home. In Regional cities like Newcastle this happens all too often with the inevitable result of the property passing in, and in most cases not even receiving one bid from a potential buyer.

The process is horrendous for vendors who quite often have their hopes set high only to have them come crashing down on auction day. Potential purchasers use the fact that the property passed in to show that there is little if any interest in the home and accordingly offer much less for the property or just wait for the price to continue falling in the hope of snapping it up for a bargain price.

This is even truer when looking at luxury homes in sort after suburbs in Newcastle like The Hill, Bar Beach and Merewether. Twenty-seven homes were put to auction in the Hunter yesterday with only eight selling, for a clearance rate of just 30 percent. Even more interesting is that the highest price paid for a property sold at auction yesterday was just $452,000!

It is more important than ever to choose an agent with the experience, qualifications and knowledge of the luxury market when selling your home. The one-size-fits-all approach simply doesn’t work when selling luxury properties and is even more important when selling property in Regional cities.


Editor’s Note:
Michael Marquette is the co-Founder and Director of Marquette Turner Luxury Homes in East Sydney, New South Wales, Australia. Founded on Australia Day 2007 by Marquette and Simon Turner, Marquette Turner is a property consultancy company covering the Australian states of New South Wales and Victoria. Marquette has a background in medicine and a large retail and wholesale business. Very interesting. An inexperienced real-estate agent might not know the best way to sell a home in the current market, so it’s important to choose wisely. Otherwise, buyers might not bother to pay attention to sellers’ efforts. The photo above is from www.flickr.com/photos/rickmccharles/2269842297 and it is the copyright of Rick McCharles.

By Michael Marquette

From his blog: Australian Auction Clearance Rates Crash!

Auction Clearance rates for the week ending July 27, 2008 indicate a property market in crisis. Sydney’s Clearance rate of just 36.5 percent is indicative of the disparity between vendors and buyers, with some real-estate agents caught in the middle.

Luxury real estate agents’ skills in both marketing and negotiating homes are being put to the test and many are being found short. Agents with reputations for overpricing properties (the practice of overpricing is used by some agents to win listings) are struggling to match the prices offered by buyers with the price expectations of vendors. Agents with the ability to communicate the best strategy at the time of listing are best placed to negotiate the highest price for vendors in the current market – well before a property is seen to become “stale.”

Getting the right agent is the key to successfully selling your home. Given that the total number of sales is down and the list of unsold properties is increasing, it is more important than ever to ensure that your luxury home is in safe hands. Given that spring, and the usual seasonal increase in the number of listings, is beckoning I stress the importance of making the right decisions the first time!



Editor’s Note:
Michael Marquette is the co-Founder and Director of Marquette Turner Luxury Homes in East Sydney, New South Wales, Australia. Founded on Australia Day 2007 by Marquette and Simon Turner, Marquette Turner is a property consultancy company covering the Australian states of New South Wales and Victoria. Marquette has a background in medicine and a large retail and wholesale business. Some markets are facing tough times, and it’s good to be aware of potential issues as well as opportunities. The photo of the crashing wave is from www.flickr.com/photos/victorgeere/24539591 and it is the copyright of Victor Geere.

By Brian Langhorst

Did you know that we track the number of listings that you upload that do not have addresses? We are undertaking a membership-wide commitment to improve the quality of the data/listings that are on LuxuryRealEstate.com.

This is a very exciting and strong opportunity for all of us. When you enter your listings with accurate information it helps us to provide tools and accurate search results for your and our end customers – the buyer! So please enter all the information you have on to all of your listing on LuxuryRealEstate.com!

Please contact me to speak more about your listings and how to get the most out of your membership with us. Email me at blanghorst at LuxuryRealEstate.com.


Editor’s Note:
Brian Langhorst is LuxuryRealEstate.com’s Membership Manager. He meets members’ unique needs through the dynamic services LuxuryRealEstate.com provides. We at LuxuryRealEstate.com are committed to providing excellent service to brokers around the world and to buyers and sellers, as well. Be sure to take the time to contact Brian to find out more about how you can make your listings more effective on our Web site.

By Brian Langhorst

Every year more and more young athletes are getting very large signing bonuses and contracts right out of high school and college. These young men are usually looking at buying two things quickly: real estate and automobiles. Are you reaching out to these up-and-coming luxury buyers and sellers?

Most athletes move several times during their careers. I cannot help but think that the referral opportunities for qualified real-estate agents are rather large. These athletes/real-estate investors can provide you with a large pipeline of referrals and business as their peer and teammate network is large and always growing with trades and acquisitions.

As a network with representation in every major market, Who’s Who in Luxury Real Estate and LuxuryRealEstate.com can be an excellent resource for you to use for such clients.


Editor’s Note:
Brian Langhorst is LuxuryRealEstate.com’s Membership Manager. He meets members’ unique needs through the dynamic services LuxuryRealEstate.com provides. This is definitely a great market to go after, since professional athletes are certainly wealthy, affluent and looking for the finer things in life.

By Kimberly Fulwyler

With the public perception that the real-estate market is in a downward spiral, homeowners, and some real-estate agents, are relying on divine intervention to sell their home. People are buying St. Joseph statues all across the country, so that St. Joseph, the Patron saint of home life, can help them sell their homes. According to the legend, you bury the St. Joseph statue in your yard, and within a short period of time your home miraculously sells. The myth varies as to where and how you bury St. Joseph. Some people say you bury him next to the For Sale sign while others insist that you must bury him upside down. Whether this urban legend is true or not, I think that it at least illustrates that most people have faith that something – miraculous or otherwise – will turn the market around in their favor.

Comments? Contact me at kfulwyler@luxuryrealestate.com.


Editor’s Note:
Let’s hear a nice round of applause for Kimberly Fulwyler for kicking off our new LuxuryRealEstate.com Blog with this fun blog entry! Kimberly is an Account Manager, so she provides customer service and marketing materials to a variety of LuxuryRealEstate.com members. I can’t wait to see more great work from Kimberly and others, as well.

By Robert Lockard

Similar to yesterday’s post, I would like to focus on some issues that I hope will show that current real-estate worries shouldn’t frighten buyers, sellers and agents too much. It seems like everything is going wrong right now because that is what we have been hearing over and over in the media. However, according to the RISMedia article entitled “Give Your Clients the Real Facts,” the National Association of REALTORS® is beginning a bold campaign to stem the tide of bad publicity with ads and a new Web site: www.housingmarketfacts.com. Basically, they stress the fact that real estate, and especially luxury real estate, has always been a good investment.

I definitely like this development because it’s good to alleviate some of the fears being spread in real-estate markets around the country. Other bloggers have pointed out to me that real estate is driven by emotions as well as numbers, so simply saying that everything is okay and that the numbers show growth isn’t enough to turn the tide against negativity. But it’s a good start. I hope that people will calm down soon and start focusing on solutions to the real and perceived problems plaguing many real-estate markets. I hope I can be more positive and share some solutions instead of just focusing on problems, as well!


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.