Luxury Real Estate Blog

According to a recent article in the Chicago Tribune, entitled, “Real estate investors turn focus overseas,” American investors are increasingly finding excellent investments in foreign markets. The recent weakening of several U.S. housing markets has certainly encouraged investors to seek their fortunes elsewhere. Also, foreign real estate is rarely affected by the stock market, providing an excellent way to diversify investments.However, investors face several risks when buying foreign real estate. These include a weak U.S. dollar, numerous legal pitfalls and barriers to entry into certain markets, and the possibility of downturns in countries’ economies.Members of LuxuryRealEstate.com can provide useful resources for people hoping to safely invest their money in foreign markets. Yalile Alpízar, the founder and president of Costa Rica Luxury Estates, is a great expert to ask about investing in Central American properties, especially in Costa Rica. Members of LuxuryRealEstate.com in many other countries are ready help Americans invest wisely in their markets. Since LuxuryRealEstate.com has such high standards for its members to maintain, homebuyers can rest assured that they will be well-served.

A dangerous downturn is gripping the real-estate market, and I'm not talking about the recent drop in home sales. I’m referring to a significant drop in customer satisfaction and trust in Realtors®, discussed in this RIS Media article. According to the article, consumers have no guarantee that they will receive anything approaching quality service from real estate brokers, even accredited Realtors®. For the past few years, real estate prices have increased significantly, allowing less-professional real estate agents to find success. But now that the market is shifting, consumers are losing their confidence in real estate professionals’ abilities. That’s the bad news – but here’s the good news. LuxuryRealEstate.com, although it has grown rapidly for nearly two decades, has actually improved its entry requirements for real estate brokers to join its network. In sharp contrast to the woes plaguing other real estate brokers, LuxuryRealEstate.com is thriving because it only allows proven experts who are dedicated to the industry’s best service to join its international network of luxury brokers and firms. Luxury homebuyers and sellers can trust that when they seek a property anywhere in the world through LuxuryRealEstate.com they will be served by the world’s finest brokers. Check it out!

This CNN/Money article offers an interesting take on luxury waterfront properties. According to the article, even though we all know that the climate is getting warmer and that this could signal a rise in the ocean level, luxury home buyers are actually buying more waterfront properties. It seems like demand for waterfront properties would decrease as buyers see a higher risk associated with buying land that could be underwater by the year 2100. But if you’re retiring and looking for the best in luxury living then you’re probably not worried about possible risks that might affect you in 100 years. Also, the article points out that in the Western United States and Europe the sea level is actually falling because of shifting tectonic plates, showing that the future might not be all bad. Beachfront properties are some of the hottest commodities in the luxury real estate market. In fact, they are in such high demand that the city of Dubai famously created hundreds of acres of man-made islands and beachfront properties to give luxury buyers even more places to move in. Let’s face it: living on the ocean or other bodies of water is glamorous. Plus, major cities like Miami or New York City can’t be simply relocated away from the shore, and as long as many high-paying jobs are on the coast then people will want to live there. As the weather gets warmer, it’s natural that people will want to be near bodies of water to relax and stay cool. Don’t stress too much about the heat. Just keep it in perspective.

When is a home worth $10 million? Gene Northup, with Century 21 Advantage Gold, has the answer: When it is one of the last bastions of true elegant living, when it allows you to throw your head back and breathe in the incomparable air of your own waterfront estate, and when you can do all of this living enthroned in luxury and elegance fit for royalty.

Well-known as a popular gathering place for famous sports figures, musicians and actors, and as the largest single-family home in Miami’s luxurious South Beach, The Temple House is currently on sale. This home has a tradition of attracting celebrities who come to enjoy its legendary parties. These celebrities include Jennifer Lopez, Ricky Martin, Marc Anthony, Jay-Z, Tony Hawk, Jamie Foxx, Michael Mann, Venus Williams, Magic Johnson and Victor Manuelle.Located at 1415 Euclid Ave., The Temple House is next to Flamingo Park and within a half-mile of the Atlantic Ocean. It sits on two adjacent lots within two blocks of the upscale shopping center on Lincoln Road. Quick access to seaports and the Miami International Airport provide residents with a variety of options to travel to and from this luxurious property. It’s hard to imagine a more luxurious place to live in this city, which is already known for its luxurious living. Audrey Ross of Christie's Great Estates – Esslinger Wooten Maxwell is currently offering The Temple House for $12.75 million.You can also read a news release on The Temple House here.

On Thursday, June 14, 2007 I read an article in The Seattle Times called “Megahouses multiplying, but how big is too big?” This article brought up the point that people living in modest neighborhoods are complaining about large mansions being built nearby around the United States in places like Austin, Texas; Marin County, Calif.; Queens, N.Y.; Chevy Chase, Md.; Bellevue, Wash. and Atlanta. The following day I read this article, also in The Seattle Times, entitled “Pursuit of luxury knows no bounds for rich who splurge with abandon.” According to this article, the distance between haves and have-nots is as wide as it was during the Great Depression, and there seems to be a disregard among the super-rich for the costs of their tastes.Suddenly the situation is becoming clearer.I’m certainly not saying it is a bad thing to desire the best properties money can buy. Luxury home buyers are willing to pay top dollar for large, rare and unique properties because they are so luxurious and distinct from other homes. The incredible demand for immense, luxury properties is naturally pushing builders and real estate professionals to supply large, exquisite homes in new places. However, I am saying that wisdom and prudence should prevail as buyers and sellers make decisions about new properties that affect neighbors and society at large. Let us respect the needs of the many and not just the few so that all can benefit from new home sales that can raise neighboring property values instead of making neighbors feel uncomfortable.As more buyers demand high-quality luxury properties we have more opportunities to help them make responsible, constructive decisions.