Luxury Real Estate

Courtesy of Barbara Harrington of Royal Shell Real Estate

Sanibel, FL (Feb. 24, 2011) – If you’re salivating just reading this, you must make a stop at the new Dolce Tesoro in Tahitian Gardens on Periwinkle Way. This new “sweet treasure” is proof that good things come in small packages. Delectable sweet treats; espresso coffee, cupcakes, chocolate fountain and pizza (!) call this small yet elegant space home.

Caption: Chef Black at the chocolate fountain. One of many luscious taste treats that await you at Dolce Tesor.

Chef A.J. Black and his crew create these delectable delights daily and greet you with smiling friendly faces. The upscale atmosphere and outdoor seating make a stop at Dolce Tesoro a delightful experience. Hours are 9AM to 5PM daily. Pizza can be ordered for take out or enjoyed at a table out front, daily specials are offered. Call 239-472-4300 to order. Menu is available online at www.iltesoro.net . The colorful original oils hanging on the walls are created by Chef Black’s wife, Joelene. Many are for sale.

Put Tesoro Dolce on your “Discover the Shopping” list. This “sweet treasure” in Tahitian Gardens is located in the 1900 block of Periwinkle Way.

The ShopOnSanibel centers are managed by Royal Shell Property Management. These Sanibel retail centers – Tahitian Gardens, The Village Shops, Olde Sanibel Shoppes and Town Center – are home to boutiques, restaurants, specialty shops and service providers. Each center offers variety, quality and value to discerning patrons. www.leaseonsanibel.com.

Courtesy of Mark of Luxury Real Estate Vacation Rentals

Need a last minute luxurious getaway? Think Beaver Creek this spring break. This amazing property known as the "Ski Safari" is located just steps from Beaver Creek Village and directly on the mountain. This 4,400 sq ft home is like visiting a world class African Hunting Lodge in the heart of the mountains. The home is uniquely decorated with wonderful furnishings and art work. In the winter you can ski right up and out to your home and in the summer you can begin and end your hike directly from your back door.

The "Ski Safari" can sleep up to 10 people with three king suites with private bathrooms and junior suite with two twin beds with a private bath plus a den with queen sleeper sofa and a private bathroom. There are two separate living areas where you can relax with family and friends after a day of skiing, hiking, golfing. Warm yourself in front of the fireplace, play pool or watch a video on one of the eight large plasma TVs. If you need more relaxation, the private stainless steel hot tub will do the trick.

Click here to view the LRE listing.

Courtesy of Julia Cockrell of Handsome Properties

Spring is just around the corner and if you haven’t done so already it’s time to start thinking about where to spend your spring vacation. What better place than Paris, France? With every other vacationer in Mexico or the tropics, Paris will be yours to explore. Free from the massive crowds of tourists, spring is one of the best times to visit Paris. With hardly any lines to wait in, visiting in the spring can be a great way to get the most out of your Paris vacation. Handsome Properties International offers a variety of beautiful apartments for rent from Studios to 4 bedrooms. All are located in the best districts of Paris, near familiar attractions, and are luxuriously appointed. Monceau Majestic is beautifully renovated with a balcony and located in the 17^th near the Arc de Triomphe. Walk to shopping along the Champs Elysees while seeing the sights.

Another handsome apartment is the Marais Majestic, located in the 4^th district. Peaceful and quiet, this exquisitely Parisian apartment boasts 2 bedrooms, a modern kitchen, and even a garden.

Whether you visit for the Romance, the History, the Sights, the Shopping, the Cuisine, or the Fun, you can’t go wrong with Paris. We also offer rentals in other luxurious locations across the globe.

Contact Handsome Properties International today to book your Spring Vacation! (843) 727-6460 or info@handsomeproperties.com

Courtesy of Michelle Poitevin of Realogics Sotheby's International Realty

Executives of Realogics Sotheby’s International Realty today released a sample price list for remaining inventory above the 27th floor at Olive 8 – a 229 unit condominium and hotel development in downtown Seattle. The new pricing strategy includes reductions across the board that vary from about 15% to more than 25% on some homes, according to Julie McAvoy, the Community Sales Director for Olive 8.

“Effectively, the price reductions is our seller making the first offer to homebuyers in this dynamic marketplace,” said McAvoy. “Selling today requires a conversation and we’re listening.”

The new price list comes out about a year after prior reductions that ranged from 10-15% and last fall an auction helped sellout targeted inventory below the 27th floor, according to McAvoy and NWMLS history. She estimates the total reductions in aggregate now range from 30-40% below presale pricing in 2007. “It a compelling opportunity for savvy homebuyers,” said McAvoy. “With prices correcting, timing the market may now have more to do with securing preferred selection and historically low interest rates versus anticipating further price cuts. I think we’re at a pivotal time in the center-city (Seattle) housing market and each community has a unique relationship within it.”

A preliminary look at median home prices (year-over-year) for all condominiums (new and resale) in downtown Seattle suggest a 13% correction from a peak in 2007 compared with 2010, according to NWMLS records. Meanwhile inventory appears to be shrinking, most notably due to a lack of new construction since the credit crunch stopped additional development in 2007. Pundits agree no new condo towers are expected to arrive to market for at least several years.

David Thyer, President of RC Hedreen Company and developer of Olive 8 says he monitors market values but acknowledges the only price that matters is the one that a buyer wants to pay. “We’re not inclined to further discount given recent sales comps in the building,” he said. “We know Olive 8 provides a great value today and we’re working our way up the building. Our three year construction loan extension provides us the time to sell into an improving marketplace over the next two years or so. Fortunately, we’ve saved our best inventory.”

McAvoy reports 10 new sales have been accepted so far in 2011 and active negotiations are taking place on several other homes. “I think buyers and sellers are finding better balance in supply and demand at Olive 8 and elsewhere,” she said. “It’s a signal that the market is stabilizing and an increase in sales means buyers are becoming more confident in home values.”

About Realogics Sotheby’s International Realty: Representing a significant volume of new construction condominium closings in downtown Seattle since 2008, Realogics Brokerage, LLC (DBA Realogics Sotheby's International Realty) has emerged as a leading sales and marketing company in the Seattle area. Managed by Realogics, Inc., the collective presents a fully integrated real estate solution comprised of market research, product development, full-service marketing and sales. The Realogics Group of Companies owns a long-term franchise within the Sotheby’s International Realty network and has since established a fastgrowing resale division. Realogics Sotheby’s International Realty is independently owned and operated by Realogics, Inc. For more information, visit www.RealogicsSothebysRealty.com.

A snapshot of NYC Spanning 60 Years, As Seen By Me:

Courtesy of Frederick Peters, President of Warburg Realty

As I attended two concerts over the weekend at the 67th Street Armory, directly across the street from the building in which I grew up, I was inspired to think about how much the city has changed, in every way, during my lifetime. As a sheltered kid attending private school and living on 66th Street and Park Avenue during the 1950s and ‘60s, the Upper East Side was my village. It contained clean, small grocery stores, antique stores, a few restaurants along Lex, and fancy clothing and jewelry stores on Madison (which, like Fifth, was a two-way thoroughfare.) While I had a couple of friends who lived on 96th or 97th and Fifth, mostly I went no farther north than my piano lesson, on 91st and Lexington, which seemed like the upper edge of the known universe. The lower edge was, of course, Grand Central, from which we occasionally took the train to the country. My father’s apartment, in Stuy Town on 20th Street by the East River, was an alien place in an alien world, populated by scary looking kids roaming in packs. Except for visiting one friend at the Majestic, I never crossed Central Park to the Upper West Side.

When I graduated from college I moved to 92nd and Broadway, a completely new world of small shops and middle class residents. It felt like life in a new city. And then, after a brief detour to Brooklyn Heights, in the late 70s my wife and I bought the apartment at 86th and Central Park West where we live to this day. When we moved here, crime was rampant on many of the side streets near our home. Columbus Avenue held small local merchants: bakeries, bodegas, dry cleaners, drug stores. Amsterdam was littered with crack vials. And Broadway was a paradise of Old World cooking, smoked fish, linoleum, and independent bookstores.

Over the years, our neighborhood has changed, for both better and worse. The small shops where we knew the owners and they knew us are mostly (though not all) gone. The melting pot flavor is gone, and there are many more upscale bars, restaurants, and high rises. There is very little crime, and it is hard to remember the time when we put signs in our car window saying “No Radio!” (and the windows got broken anyway.) There are no crack vials on Amsterdam Avenue gathered around the pay phones where the dealers plied their trade.

The same thing has happened all over Manhattan. As crime has receded, and chain stores have proliferated, shopping in our neighborhood, or on the Upper East Side, or in Union Square, has grown more similar. So it is little surprise that real estate buyers who would once live ONLY between 59th and 86th Streets, between Fifth and Third, now look in Tribeca, and that those who wanted only the Upper West Side now look in Harlem. As for Central Park West, it has become a literal extension of Fifth and Park Avenues. As Manhattan has become safer, it has also lost much of the indigenous character which distinguished one area so strongly from another. Today the island is one large neighborhood with regional characteristics. You can walk around or ride the train at any hour of the day or night without fear.

I don’t miss the little village of my childhood, and I certainly don’t miss the crime ridden streets of my young adulthood. My kids grew up feeling at home all over New York. Cities evolve or die. For much of America, the last fifty years have left urban areas like donuts, their downtowns emptied or ghetto-ized while life retreated to malls and suburbs. Not here: Manhattan remains as vibrant and busy as ever, because the city is always changing. I love the wide open New York of today, where everyone lives everywhere (if only they can afford it!) Selling the city is my job and I am proud of it.

Courtesy of Robert Kenyon of Willis Allen Real Estate

The Rancho Santa Fe Community

The community of Rancho Santa Fe comprises some 6,200 acres populated by approximately 1780 homes. It is located approximately 30 miles to the north of downtown San Diego and approximately 10 miles east of the coastline. The homes enjoy great swaths of openness between them, with the average lot size being over 2 acres of land. The homes vastly differ in size with square footage ranging from 1,700 to 15,000 square feet in size. There are some 86 Condominiums located within what is referred to as the Village.

Local residents refer to their community as "The Ranch". Its exclusivity, low profile lifestyle and privacy has long been coveted as one of the favored communities within the nation. It has miles of rural roads, which interlace the prestigious estates, with no sidewalks or street lights to be found outside of the Village center. The main street in the Village is named Paseo Delicias, with several restaurants, banks, boutiques and any number of realty offices. The centerpiece within the Village is the Inn at Rancho Santa Fe, which is a Lillian Rice creation and has withstood the test of time in fine fashion. Outside of the Village, horses trails meander across some 51 miles of footpaths, following aside the property lines of multi-million dollar estates and the beautifully adorned Rancho Santa Fe Golf Course.

History of Rancho Santa Fe

In the early 1900's, the Santa Fe Railroad Company purchased much of the land now known as Rancho Santa Fe for the purpose of farming Eucalyptus trees to be used as railroad ties for the rail line. The company planted some 3,000,000 of these fast growing trees only to find that they easily cracked under the weight of the carriage. In 1921, the company chose to hire L.G. Sinnard, an expert renowned for land redevelopment to manage the Santa Fe Land Improvement Company. Over the next several years the company mapped out estate subdivisions, including some fifty miles of meandering roadway that kept a rural, secluded look to the developed environs.

As Ranch property was offered for sale, purchasers were required to agree to deed restrictions on how the properties were to be developed and the Company hired on the architectural firm of Requa and Jackson to oversee the local community development. Lillian Rice was assigned the project and her landmark designs have proven their worth for generations.

A detailed report on the historical development of Rancho Santa Fe is a worthy read.

To read Robert Kenyon's full article on the history and features of the Rancho Santa Fe area, click here.

Courtesy of Ursula Morel of Sea to Sky Premier Properties

OTTAWA – February 15th, 2011 – National resale housing activity climbed further in January 2011, according to statistics released today by The Canadian Real Estate Association (CREA).

Seasonally adjusted national home sales activity rose 4.5 percent in January 2011 compared to the previous month, reaching the highest level since April 2010. Led by Vancouver and Toronto, seasonally adjusted sales activity posted monthly gains in more than half of all local Canadian markets in January. National sales activity has improved steadily since last summer, and now stands almost 25 percent above the low point reached in July 2010.

We anticipated the recent announcement of tighter mortgage regulations, which will come into effect this March, would pull forward sales activity into the first quarter of 2011, particularly in some of Canada’s more expensive housing markets,” said Gregory Klump, CREA’s Chief Economist. “The sharp rise in sales activity in Toronto following the announcement provides early evidence confirming this,” said Klump. More: http://creanews.ca/

Whistler/Pemberton Trends

Whistler/Pemberton also anticipate the recent announcement of tighter mortgage regulations, which will come into effect this March, would pull forward sales activity into the first quarter of 2011, connected to Vancouver’s more expensive housing markets. Take advantage of Whistler/Pemberton’s Buyers Market!

Whistler, BC, CANADA

Why Whistler over any other Canadian Ski Resort?

“Whistler has fantastic Olympics related infrastructure, like Callaghan Valley, the sliding centre, the road, and Whistler is positioned to recover stronger than any other ski destination in the world. And those benefits mean a better place to visit and to consider living full time or retiring. Regional volumes are strong and visitors from Asia-Pacific and Australia are a "bright shining light," with the number of Australian visitors alone up "in the triple digits plus new markets like China and India are emerging.”

Located in the spectacular Coast Mountains of British Columbia, and just two hours north of Vancouver, Whistler is Canada’s premier, year-round destination (Very important for destination travelers and for any investor to achieve high occupancy rates all year- round).

Consistently ranked the number one mountain resort in North America, Whistler features two majestic mountains, epic skiing and snowboarding conditions, four championship golf courses, more than 200 shops, 90 restaurants and bars, accommodations galore, hiking trails, spas and arguably the best mountain bike park in the world. In short, Whistler has everything you will ever need to have the time of your life—and so much more. More: http://www.whistler.com.

About the Author:

My name is Ursula Morel and I moved from Germany to Canada in 1978 and have lived in Whistler, British Columbia since 1983. I have chosen Whistler because of its beauty, the mountains, lakes and climate. I am fluent in English, French and German and, as a result, I have numerous international clients and assist them in any of their real estate needs at www.seatoskypremierproperties.com.

I worked during the Olympics with the Austrian Media Crew at the Sliding center and again found my passion and desire in our infinite possibilities on our 8,171 acres of ski-able terrain. Every Wednesday I pass on the experience of a lifetime to any guest coming to our Mountains as I am a part of Whistler Blackcomb Volunteer Mountain Host Program:
Come and ski with me- I would love to be your Mountain Host.
By the way, our tours are complementary….
http://www.whistlerblackcomb.com/index.htm
See you on the slopes!

Ursula Morel www.seatoskypremierproperties.com CIPS,RSPS,CLHMS,TRC, President of FIABCI – Canada www.FIABCI.com

About Sea to Sky Premier Properties—Christie's

#4370 Lorimer Road Suite 334B
Whistler BC, V0N 1B4

http://ca.linkedin.com/in/ursulamorel
http://www.facebook.com/umorel
http://twitter.com/canadabc

Ursula is a member of The Institute for Luxury Home Marketing as a CLHMS, achievement of the Million Dollar Guild, recognized as an "exceptional agent" in the Wall Street Journal and Barron's and is on the Board of Regents for “Who's Who in Luxury Real Estate". She is fluent in English, French and German.

Courtesy of Nick Horton of Luxury Real Estate New Zealand

The New Zealand Government has recently relaxed its regulations relating to International Investment and Immigration. With an investment of $10m New Zealand Dollars for three years, and a commitment to spend 73 days of the last two years, applicants will be granted indefinite permanent residency for themselves and immediate family. Luxury Real Estate New Zealand offer services facilitating in this area from arranging initial consultation through to assisting with integration into New Zealand. We have a number of clients currently working through the immigration process and have assisted families with region/location selection, schooling and community introduction. For more information on New Zealand Investor Immigration please view our website Luxury Real Estate New Zealand.

Courtesy of Scott House, President of South Florida Vacation Rentals Association

January 26^th, 2011

Many residents and homeowners of Fort Lauderdale may be unaware of new regulations being considered by the City of Fort Lauderdale (the “City”) regarding Short Term Vacation Rentals of residential property.

Since March, 2010, an advisory committee sanctioned by the City of Fort Lauderdale Commissioners called the Short Term Residential Use (“STRU”) Committee, has been meeting monthly to determine the future of Short Term Rentals in the City. They have preliminarily outlined suggested regulations (no rentals for durations of less than 6 months and no more than 2 rentals per year) which, if adopted by the City Commission, would effectively ban Short Term Rentals and adversely affect every homeowner, real estate agent, neighborhood, family, local business, and would undoubtedly place an already depressed real estate market into added peril.

As South Florida is one of the world’s premier tourist destinations, we should be concerned with any decision that might send a message to real estate investors and visitors worldwide that Fort Lauderdale will not allow weekly (7 or more days) rentals, said Mr. House.

The great news is that Fort Lauderdale is uniquely positioned to take advantage of this burgeoning vacation rental marketplace. Based on an independent marketing study completed in 2010, PhoCusWright® forecasted the U.S. Vacation Rental Market to be a nearly a $25 Billion dollar industry[i], growing despite a depressed economy. Moreover, according to PhoCusWright®, the vacation rental market equals 20% of all hotel room revenue in the U.S., and 8% of total U.S. travel spend.[ii]

As Co-Founder and President of South Florida Vacation Rentals Association, Inc. (“SFVRA”), our goal is to inform the homeowners and public officials of South Florida about the benefits of allowing Short Term Rentals. The U.S. is experiencing the worst recession since 1929; Florida has the 2nd highest foreclosure rate in the country, whereby Fort Lauderdale ranks the highest. [iii] The City’s home values have fallen 52% since 2006[iv], and its unemployment rate remains at 12.1%[v]. With these tragic statistics, it is hard to believe we would be discussing severe restrictions on Short Term Rentals now or in the future. SFVRA is a Fort-Lauderdale-based not-for-profit advocacy organization founded in 2010 by a group of concerned vacation rental owners, homeowners and Realtors, united to bring awareness to the benefits of the Vacation Rental Industry. Our mission is to provide the public and elected officials with the data concerning the positive economic impacts of Vacation Rentals in South Florida.

Because regulations are much more difficult to overturn than they are to influence, it is critical that the residents, investors, Realtors, and local businesses in Ft. Lauderdale join SFVRA in an effort to stop any restrictions which could lead to the banning of Short Term Vacation Rentals. We support individual property rights and would like to help municipalities understand the positive contributions property owners and managers are making to their cities in terms of real estate sales, retail sales, tourism dollars, and, yes, tax dollars.

The impact of a Short Term Vacation Rental ban in Fort Lauderdale would be staggering. For example, with respect to Fort Lauderdale’s real estate market alone, the following should be noted:

• 22% of all homes purchased in Florida in 2010 (i.e., 90,000 real estate transactions) came from international buyers buying secondary or vacation homes. [vi]
• 45% of international buyers bought homes with the intent to rent them. [vii]
• 27% of all homes purchased by Americans in the U.S. in 2010 were vacation homes with the intent as a future retirement home. [viii]

Hence, it would be fair to conclude that severe regulations or a ban on Vacation Rentals would deter international and domestic buyers from purchasing secondary vacation homes in Fort Lauderdale, which would result in a negative impact on the City’s already depressed real estate market.

Regulations on our industry are inevitable and in fact, are welcomed, as the City does not currently regulate Short Term Rentals within its Code of Ordinances. We are all best served by working with our City to craft regulations that support a safe environment for our travelers and local neighborhoods, a level playing field for our homeowners and the continued development of an industry in which we are all passionate. That’s why SFVRA will be presenting proposed regulations as it relates to Short Term Rentals with two non-negotiable features: 1) that any restrictions on length of stay do not exceed seven (7) days; and 2) that there are no limitations on the number of weeks a property can be rented in a calendar year. Any regulations prohibiting seven day rentals would in fact destroy the Vacation Rental Industry in Fort Lauderdale, since the average vacation rental stay is 7.9 days. [ix]

With over 245,000 advertised vacation rentals worldwide, over 126,000 in Europe [x], nearly 90,000 in the U.S. of which 20,000 are in Florida, there is no question that this is a lucrative market which Fort Lauderdale should embrace. We at SFVRA, encourage all residents of South Florida that enjoy their property rights to join us and lend their voice in support of sensible regulation in the use of Vacation Rentals, which is clearly the trend of contemporary family tourism.

About the Author: As the co-founder and President of SFVRA, Inc., Scott House is a licensed Florida real estate broker with over 17 years experience in commercial real estate with the majority of those years spent in the hotel industry. His company, Themis Receivers, LLC, is based in Fort Lauderdale, FL which provides fiduciary services throughout the US. Scott believes that with the proper data and public support, local governments can regulate short-term rentals while protecting the rights of property owners to rent their vacation homes to the public. The effect of short-term rental bans and/or unreasonable restrictions is a serious issue, not only to the tourism and real estate industries, but to the tax revenues generated for local governments, future home sales, and the potential income to our local businesses.