Real Estate Market

Getting the luxury dream house you desire will take you a lot of time and effort. In fact, there are many things that you need to consider and look into before coming to a decision. Different types of houses offer different advantages, hence making the idea of committing to just one house a tricky and difficult one. The house hunting adventure has therefore been viewed by many as an exciting yet demanding one.

When planning for your dream house, begin by having an idea of the type of lifestyle you wish to have or the image that you wish to reflect in your home. Are you into elaborate decorations like chandeliers and tall fixtures? Do you have any specific themes that you wish to incorporate? For instance, you may be interested in the Japanese culture and hope to include the same feel and experience into the way your house is styled and designed. This would form the base with which your house is built upon. Thus, having identified what you want makes your search for the right house or renovation planning process a simpler and more straightforward one.

The most commonly sought after luxury houses today are that of condominiums, semi-detached houses and other landed properties. All of them offer state of the art infrastructure accompanied with excellent security services. This helps to ensure that your precious dream house is well protected and cared for. Also, the neighborhood your house is located in plays a crucial factor when choosing your dream house. This is mainly due to the fact that it will be the environment your children will grow up in and the kind of people that you will mix with for the next few years.

Luxury homes today are attached with hefty price tags that range from hundreds of thousands to tens of millions. It varies according to property prices of the country the house is built in, the quality of the infrastructure as well as the facilities that are provided within the vicinity. Thus, be prepared to spend a lot of money on such properties. Take note of residences that include existing furniture and equipment, as they will make your moving in experience an easier one if they are in good working condition.

Other than looking into the usual issues of its locality and convenience, remember to ensure that the house you purchase or rent follows legal guidelines and regulations. Appoint a solicitor to prevent any unnecessary problems from occurring along the way. Also, consult an agent if you are unfamiliar with the property market and wish to gain exposure to more properties that are available today. Their expertise will go a long way in helping you get the luxury dream house you desire.

Finally, you ought to be aware of some documentation processes that have to be carried out when getting a property. Namely, the ‘option to purchase’, ‘offer to purchase’ and the ‘sales and purchase agreement’. Get acquainted with these terms and learn how they affect you.

Famous people, either actors of stage or film, musicians or politicians, buy real estate for themselves or to own as investments. Celebrities have various tastes when it comes to real estate just like any other person but the difference is the spotlight. Therefore, some of the foibles witnessed by real estate agents have to be dealt with in discretion. The biggest real estate markets are Los Angeles, New York and London.

Some of these skills needed for discretion include the ability to get away from paparazzi as well as excellent knowledge of sophisticated security systems. This is because of security and safety but also because there are numerous blogs, some receiving as much as 300,000 page hits per day, and newspaper columns devoted to celebrity real estate dealings. Society loves to read of celebrities and where they live, what they live like and whom they are living with. The public likes to read about people who live in a fantasyland of excess and privilege.

Celebrities regularly use trusts or facade companies to mask their transactions. They carry out business in a different way from regular citizens. Many of them like the idea of shopping without actually buying anything. Security features such as high walls, sophisticated intruder-trigger alarm systems are what celebrities prefer. Buyers have to sign privacy agreements to look at any property linked to a celebrity, and that did not happen ten years ago.

Real estate agents who deal in the luxury markets rarely meet their celebrity clients until the deal is almost done, using assistants for the actual work. Celebrities also seek after anonymity because details of their net worth are readily available and it becomes a distinct disadvantage when negotiating the price of a property. Some celebrities buy property based on who owned the property prior, but most go for the value it adds to their investments instead. Some properties sell well when potential buyers know who the celebrity owner is and others do not, depending on the buzz the particular celebrity is carrying at the time.

By far the most important skill for a real estate broker to possess is a network of serious connections, being able to get business from a very choosy clientele is not easy. The way is smoothed over by whom you know. It is believed that entry-level houses that are deemed fit for an A-list celebrity costs about 1.4 million dollars.

While the rest of the homes in today’s market are dropping in value, the homes in the gated communities are continuing to rise in value. This is because of the limited number of gated community homes that ever reach foreclosure and the level of care each of the homes in the communities receives. The locations of these communities also help to keep the home values well above the national average and keep the home values increasing in an economy that is poised to have the lowest home values ever.

Gated communities are communities that have deed restricted properties and maintain high levels of care and prosperity. These homes are not purchased by the average individual, but rather by those families or individuals that are well educated and well employed. Such homes typically are several hundred thousand dollars to several million dollars. These homes offer large properties and great care and security. The communities themselves often offer such things as trails, wild life preserves, club houses, clubs, and recreations. There are often pools for the residents of the community to swim in and other activities for the residents to enjoy.

Gated communities do not necessarily screen their buyers, but they do take care to notice any unusual behaviors or any undesirable traits that may have made their way into the community. There are usually security guards who watch the neighborhood and prevent crime from occurring. There are gates that prevent people from simply driving into the residence and disturbing the peace of the area. All of this is to maintain the peace, safety, and value of the community as a whole and the enjoyment of each individual living in the gated community.

Because of all the care and concern that is placed on the properties within the gated community and the higher prices of the gated community homes, it is little wonder that these homes are still expensive and still rising in a time where the average home value is decreasing. These homes represent what the American dream is all about. These homes enable each of the owners to proudly state that they have worked hard to reach the level of success that they have seen. This coupled with the extensive work that is put into the homes whenever the need arises helps to keep these homes at such a high value.

Virtual home tours are becoming mist-haves for selling luxury homes. Galleries of virtual home tours link to virtual home tours of luxury homes from some very good tour producers. At such galleries, you can click through tour after tour of palaces in Los Angeles, Scottsdale, South Lake Tahoe, and more.

One such home is the South Medio home on the Los Angeles page.

The first photograph welcomes you with a clean stone drive, trees with white trunks and fall colors, and clean white columns and balcony lattices. Unlike some of the ostentatiously luxurious homes linked at hometoursgallery.com, the South Medio home is understated. The front door’s design is typical of the entire home: clean white, three tall inlays, and a horizontal, rectangular window of six square panes.

The photograph of the view from the balcony shows a clean tile floor, a comfortable wooden bench, a lantern-style lamp, and what looks like a sleek Jaguar, maybe the real estate agent’s, parked on the street. It’s a bench you wouldn’t mind sitting in with a cup of coffee, tea, or a cold beer at the end of the day, in conversation with your partner. About how to pay the mortgage.

The back wall of the house consists of vast panes of glass overlooking a dark wooden deck at one end of which is a fireplace framed by two columns and a pedestal.

The bathroom is overdone. The poolroom has misplaced lights, and what appears to be a TV screen much too small.

The most interesting photograph in the South Medio home’s tour shows the staircase. The balustrades are dark over sticks of white. Far below you see the shiny dark wood floor and a spidery plant which really should be removed — or at least watered.

Wilson, Wyoming, nestled at the base of Teton Pass, is one of the most desirable villages to raise a family in, near the Jackson Hole area. There are many reasons that buyers gravitate to this quaint mountain town and its charm is certainly one of them. Children play freely in the streets, while dogs roam the town, and locals walk to any of the near-by restaurants and stores. Wilson residents enjoy easy access to the local elementary school, post office, Hungry Jack’s grocery store, and Pearl Street Bagels. For the more adventurous type, Wilson Backcountry Sports provides locals with expert knowledge in skiing and mountain biking. The Stagecoach Bar and Grill offers a laid back atmosphere where you can relax on the back porch enjoying the mountain air or dancing the night away listening to live music by Bill Briggs, the first person to ski the Grand Teton.

Winding its way from Teton Village to Wilson, a bike path gives you access to the Village Road and great restaurants like Calico and Q Roadhouse. If you are looking to fill your belly after an early hike on one of the many trails off Teton Pass, Nora’s Fish Creek Inn Restaurant is where you can get the best bacon and eggs in the Valley. The Wilson Beauty Salon, Chippy’s Kitchen, Fish Creek Interiors, Wilson Lumber, and The Bank of Jackson Hole round out everything you would need as a resident of Wilson, WY.

One of the subdivisions near Wilson is Heck of a Hill which is located about 1 mile down Fall Creek Road. The neighborhood enjoys treed lots, privacy, and beautiful views. There are 2 houses listed for sale in Heck of a Hill for $995,000 and $2,125,000. The HOA dues are around $1,000 per year.

Another neighborhood located a little farther down Fall Creek Road, is Indian Paintbrush. This high-end subdivision offers gorgeous views while maintaining each owner’s privacy with lot sizes that typically range from 1-3 acres. Residents of the neighborhood can enjoy miles of trails right out their back door. There are 3 houses currently on the market in this neighborhood ranging from $1,295,000 to $2,475,000. Annual homeowner association dues are approximately $1,500 a year.

If you continue driving even more down Fall Creek Road, you will reach Crescent H, home to the ultimate in luxury properties. Houses in this neighborhood often have views of the Grand Teton in addition to direct access to the Snake River. Amenities of the subdivision include fishing on over 4 miles of blue-ribbon trout streams, horseback riding, access to national forest, cross country skiing and miles of hiking trails. There are 7 homes on the market in Crescent H starting around $3,125,000 and go up to $25,500,000. Lots in the neighborhood range from 1 acre up to 38 acres.

Willowbrook is a neighborhood located off of the Village Road in between Wilson and Teton Village. Many properties in the subdivision have views of the Teton Range in addition to the Sleeping Indian. Only two properties are on the market in this area including a 4,625 square foot home listed for $3,685,000 and a building site with an asking price of $1,899,000 that includes 3.10 acres. Residents of this neighborhood enjoy the spectacular views while still maintaining a convenient location.

There are many more neighborhoods that surround the town of Wilson, offering its residents that small community feel where everyone truly knows your name. The immediate access to the outdoors, the close proximity to the Jackson Hole Mountain Resort and all of the amenities that you need, make Wilson, Wyoming truly a one of a kind place to live.

In the market for a new home in the Seattle, Washington area? For years, homes for sale in Seattle have been popular with buyers looking for a new place to settle down and put down the proverbial roots. Seattle is burgeoning due to its great weather, the area’s diverse population, and the great lifestyle enabled by the region as a whole. Seattle is the quintessential city of the American Northwest – and homes for sale in Seattle continue to draw families of all shapes and sizes looking for a new place to live.

One of the great perks of many homes for sale in Seattle is their proximity to great, reliable public transportation. Seattle has long been at the center of the national green movement, and Seattle residents are, by and large, a fairly environmentally conscious group. This means that Seattle boasts transit options that meet many people’s needs.

One popular form of transportation in the Seattle area is the ferry network. Washington State Ferries is the nation’s largest ferry system, and it effectively connects island communities to the city proper. Homes for sale in Seattle, then, encompass a large geographical area: it is possible to live on an island off the coast and still easily commute into Seattle to access the great amenities of the city.

Early in the area’s history, streetcars were essential for connecting homes in Seattle with schools and workplaces. From 1889 onwards, streetcars connected the downtown area with more far-flung neighborhoods, leading to the development of strong, deeply rooted neighborhoods at the end of each line. While streetcars no longer move Seattle residents from place to place, their legacy lives on in the body of homes for sale in Seattle that form distinct communities away from the city’s actual center.

Today, a public bus system runs a number of routes through the city. Buses connect many main residential and commercial areas, and approximately 20 percent of Seattle’s workforce relies on the public transit system for their commute. Homes for sale in Seattle will also soon benefit from a new light rail service connecting Seattle’s downtown to its airport. Many of Seattle’s suburbs are connected to the city proper by a well developed commuter rail system.

Life in Seattle, Washington, then, offers residents the ability to be part of a thriving Northeastern community that has much to offer. Homes for sale in Seattle are well connected to downtown jobs and cultural opportunities by a well developed public transportation system, allowing the city to live “green” in the 21st century.

If you’re planning on selling your home in the future, even if it’s the distant future, you’ll probably need to make some updates and renovations to stay competitive in today’s sluggish market. In order to command a high price and add value to your home, be prepared to spend some initially.

Although you may think that the bedroom or living room is going to suck in the buyers, there are two key places that you should focus on and invest the most in – the kitchen and bathrooms. These rooms reflect the seller’s tastes and lifestyle and are the main selling point of any home.

Bedrooms and living rooms can be fairly plain. A fresh coat of paint, decent flooring, and lighting are generally all that is required. Kitchens and bathrooms, however, have a variety of different components. A bedroom with a small closet can be worked around, a kitchen with a poor stove, however, will make potential buyers run.

Kitchen remodeling can be very costly, especially if you have a very outdated one to begin with. If you know that your remodel is going to involve more than staining the cabinets, you should start as early as possible. There are many unseen setbacks that can delay finishing projects, such as material being out of stock or arriving late.

Modern kitchens are generally spacious, full of light, and sleek. Marble countertops are preferred, but concrete can look just as great for a fraction of the price. If you can afford it, custom cabinets make a big impression and can add huge value to your home. If that’s not economically feasible, sanding, repainting, and adding new hardware can make a slight improvement.

Another addition that will be somewhat costly is stainless steel appliances. It may seem excessive, but you can easily double your investment and command a higher price for your home. You’ll also look more attractive compared to competition that lacks these amenities.

Bathroom remodels are second in line on the list of most important home features. People often find it beneficial to expand half baths or smaller ones, and even add an extra bathroom if there is only one. Like kitchens, the bathroom should feel open and spacious.

If the structure does not allow enlargement of a small bathroom, you’ll need to make the most of what little space you have. Move toilets and tubs to maximize space. Double sinks are important, especially in the master bath. Glass doors rather than curtains can also have a large impact on your sale. Think sleek and functional.

Even if you can’t afford the stainless steel stove or the marble washbasin, it is important to do the best with what you have available. Cheap fixes that make a big difference when remodeling kitchens or bathrooms include window treatments, paint, overhead lighting, and new cabinet hardware. These updates will not only add value to your home, but can help you sell it faster when the time comes.

Baby Boomers and Empty Nesters are doing it. Frugal retirees are doing it. Downsizing, selling a larger home and moving into a smaller one, is the option some couples or families are choosing as the right solution to their current residential needs. Myrtle Beach, SC offers many types of downsize options, everything from ocean front condos to golf villas and bungalows in retirement communities.

What are the benefits of buying a smaller home?

- Selling a larger home to buy a less expensive one might mean more money in your pocket to pursue activities you’ve been postponing. If you spend most of your time working just to pay a high monthly mortgage, it is logical that you will have to work fewer hours to pay a lower mortgage.
- Think of all the hours and dollars saved cleaning and maintaining a smaller home.
If you spend less time cleaning, you can spend more time with friends and family.
- Home heating and cooling costs will decrease with a smaller home, benefiting your pocketbook and the environment. Are you heating unused rooms in the winter and cooling empty spaces in the summer? Couldn’t you put that money to better use?
- Smaller homes have less storage space and if you can’t “stock up” you probably won’t buy it in the first place, saving you money every month.

What are the disadvantages to buying a smaller home?

o You are going to have to toss out a lot of “stuff”. It’s hard to let go of treasured possessions but other than renting an offsite storage space, it’s your only option.
o Your entertaining style will change. Your house may not accommodate overnight guests and the dining room may not be big enough to host Thanksgiving dinner for 12.
o Privacy and a quiet spot to call your own might become a thing of the past in smaller quarters.
o A smaller home may represent a lower value to the casual onlooker. But if other peoples opinions don’t matter that much to you, then buy the size home you are comfortable with.

The professionals in the Orlando Florida property scene, the Orlando Regional Realtors Association, tell the story of market conditions in their February 11th 2009 report, extracts of which are:

“The median price of Orlando homes sold in January ($148,274) decreased by 33.06 percent compared to January 2008.” “Buyers are responding to lower prices and mortgage rates but uncertainty about the economy is creating hesitancy and pent-up demand.” “Homes of all types spent an average of 104 days on the market before being sold in January 2009″ “There are currently 22,613 homes available for purchase through the MLS.” “The inventory level reflects a 23.63-month supply at the current pace of sales.”

What a difference a few years makes. In December 2005 we wrote a newsletter to our clients containing the following views of the Orlando real estate market:

“After Disney-area property prices built to a frenzy by the late 1990s, the only significant slowdown happened around the year 2000 with the US economic downturn followed by the Sept 11th 2001 terrorist attacks in New York. This resulted in approximately 12 to 18 months of virtually no growth in home price.

The past 2 years have certainly reversed that flat growth – and then some! Individual accounts of buyers purchasing a new home to be built, then selling it for a $50,000-$100,000 profit or more at closing, are commonplace.

However, this recent period is one that we would be surprised to see ever repeated. Orlando Florida property builders ran out of building lots, home prices spiked by $50,000-$100,000 and the inventory of available re-sale homes almost went to zero. This caused a seller’s market and multiple bidding, which resulted in homes selling for above the asking price.

It has now finally slowed down to a more manageable level. Although no one has a crystal ball and can say what home appreciation will be next year, it appears that it may maintain a lower, more reasonable but still positive pace. We believe that this is a very welcome event: if the appreciation rate of last year continued, home prices would soon reach the million dollar level and the discrepancy between personal incomes and home prices would become unsustainable.

Somewhere between the talk of a real estate bubble and corrections in real estate prices are the middle ground opinions, which suggest that Florida real estate will continue to fare well. Florida is one of the top states in job growth and approximately 1000 people per day are relocating here. The most recent statistics show apartment rental occupancy at 96%, which represents virtually full occupancy and is indicative of housing demand here.

So our overall view of the Florida real estate market? Opportunities to make money still exist and we remain bullish on real estate investment with one caveat. Last year, a purchaser almost anywhere in Florida, and of any type of property, could hardly go wrong. With the market returning to normal, buyers need to use more discretion in their selection process – for example, does the property represent good value for money, is it the right property in the right place, and so on. In addition, we believe that real estate purchases should again be viewed as minimum 2 year if not 3-10 year investments. Although last year saw individuals flipping properties in 6 months, this is usually not the formula that works most successfully in normal markets.”

At that time, there was effectively no inventory available because buyers snapped up almost whatever they could the moment it was listed. Builders became addicted to monthly price increase running into the thousands of dollars. And buyers and investors suspended any doubts about how long the party could last in a frantic effort to join in the riches that seemed to be unending. Clearly it could not last, as our newsletter predicted, but even we didn’t see the fall being so fierce or long lasting.

Will it ever recover? Well, just like the good times appeared to be never-ending, so do the bad ones now. But things will change. It may take the rest of this year or even longer, but almost inevitably we are convinced that we will eventually return to the sort ot situation described in the newsletter – when Orlando Florida property will represent good value for money if viewed as a medium to long term investment. That will benefit both buyers and sellers!

If the recent economic crisis has not scared you and you are full of energy and optimism, then buying a home in sunny Tuscany could be just right for you. Despite the fact that Tuscany is often described as the top notch destination both beauty wise and price wise, there are many places and affordable Tuscan homes to consider.

At the moment, the prices for Tuscan homes in rural area range from EUR 4,500 to EUR 5,000 per square meter and are, on average, 15-20% higher in two artistic capitals of Italy – Siena and Florence. Over the last decade, Tuscany went through a significant urban development filled by the interest from the Italian developers. Such projects attracted a large number of foreign investors as well as locals, who were mainly driven by the promises of the stable rental returns guaranteed to be 6%. The Italian market was not very much familiar with the type of buy-to-let concept at the time and, at the initial stage, a large number of foreign sophisticated investors flooded the Tuscan homes market. The main target group for the buy-to-let investments in Tuscan holiday homes remain tourists, 30 million of which visit Italy each year. This remains a great motivation for the buyers.

If in the 90′s the significant share of the foreign buyers were looking for the tranquility of Tuscany, beautiful landscape and cheap cosy Tuscan homes that required some restoration, nowadays, the foreign investors are more interested in the properties in the very center of the old cities with the view on the roofs, narrow streets and little shops with local production.

With such a change in tastes, many new buyers of Tuscan homes can get attracted to the renovated old renaissance building which was converted from the old Palazzo Bardi. This place attracts not only the lovers of comfort, but also those who admire the history of arts or are big fans of the chamber music. It is believed that the Bardi family, who originally owned the building, were the first ones to bring the concept of the chamber music to Europe.

The flats in the historical parts of Tuscan cities sell for more or less similar price as the excellent villas in the prime location of the Tuscan countryside (circa. EUR 6,000 per square meter). So if you are more interested in tranquil and secondary locations in Tuscany, you can expect roughly a price of EUR 4,500 per square meter. However, if you are attracted to less touristy places, but with the similar beautiful views as in Tuscany, you may also consider buying a home in the next-door Umbria, which has the price for homes on average below EUR 4,000 per square meter.