Luxury Real Estate

Courtesy of Ron & Alexandra Seigel of Napa Consultants, International

Now it’s the Big Island’s turn to praise their many features. Luxury Real Estate members interviewed in this article include Rebecca Keliihoomalu and Brodie Callender of MacArthur & Company Sotheby’s International Realty, Rob Kildow of Hualalai Realty.

“On the West Coast you have the Beverly Hills “Golden Triangle” with Rodeo Drive running through it. Across the Pacific Ocean, on Hawaii’s largest and geologically youngest island, you can find the Kohala Coast, also known as the “Gold Coast”. You may not find extensive high-end shopping there, but you can find an active, luxurious lifestyle that is defined first and foremost by its sun-drenched climate, tempered by soothing, tranquil trade winds. With temperatures that vary only slightly between 70-85 degrees the Gold Coast has only 8 inches of rain all year, on average.”

The article in its entirety is on the Napa Consultants, International blog ‘Language of Luxury’.

Courtesy of Ron & Alexandra Seigel of Napa Consultants, International

Hawaii knows 'Luxury'.  Luxury Real Estate members Patricia Choi of Choi International, Patricia Case of Case Properties, International, and Sachi Braden of Sachi Hawaii were all interviewed for an article extolling the riches and appeal of Hawaii's island of Oahu.

“Many people associate luxury real estate with the extravagant lifestyles of the rich and famous, with conspicuous consumption, creature comforts and sheer opulence. Although, this side of luxury can definitely be found on the Hawaiian Islands, there is a deeper, transcendent story of affluence to be discovered here. It can be found in the richness of cultural diversity that is honored and championed on the Islands combined with a true sense of community, sharing and giving that is expressed in the Aloha spirit.”

The article in its entirety is on the Napa Consultants, International blog ‘Language of Luxury’.

Luxury Real Estate member Baird & Warner has an impressive new property. Katherine Chez Malkin has the listing:

“Located in a 110-year-old building on Chicago's Gold Coast, this nearly 7,900-square-foot condominium was once part of the Playboy Mansion.”

Katherine Chez Malkin has the listing. Click here to see the property featured as the Wall Street Journal “House of the Day”, by Sushil Cheema.

Courtesy of Chiara Gajar of Lawrence Realty

The Squaw Valley Times recently recognized longtime resident Larry Lawrence of Lawrence Realty in an article about his life. To read about Larry’s life, business, and passions on land and at sea, click here.

Courtesy of Frederick Peters, President of Warburg Realty

One of my favorite things about New York is the ferment of ideas, of viewpoints, of goals, of strategies, into which I have felt thrust since childhood. It has seemed clear to me that New York, and cities like it around the world, are at the epicenter of innovation and its attendant excitement. So I was not surprised when my friend Joanne Feltman recently sent me a fascinating article about the historic role of cities in innovation (http://www.theatlantic.com/where-the-skills-are). The article posits that the gathering together of people in cities, more than almost any other factor, are responsible for civilization’s great leaps forward, that the ferment of interaction, ideas, and viewpoints in cities advances our cultural agenda like nowhere else. Cities tend to be where the most innovative jobs are, where the most significant breakthroughs are made, and where the compensation levels are highest. It has been this way for thousands of years.

Reading this article did not surprise me. Living here is just so INTERESTING. I go from my job, surrounded by people of different ethnicities, with different histories, levels of education, and perspectives, out into the world of theater, of music new and old, of movies, of readings, of outdoor concerts and athletic events and impromptu socializing in dog runs, in playgrounds, and on street corners. I watch my fellow citizens help the legions of tourists who are constantly asking questions: where is the subway, how do I get to the Metropolitan Museum, where am I (I get this one most often in Central Park)? Where did the notion come from that New Yorkers are not friendly? We are as friendly and opened-minded as we could possibly be!

There is not much room for prejudice when we live surrounded by such diversity. There is not much room for intellectual stagnation when we are constantly surrounded by opportunity, none of it requiring a car. I love the concept, articulated in the article, that social networking, one of the buzz phrases of today’s world, is, in its most basic, face to face form, one of the primary drivers of civilization. I profoundly agree that education needs to encompass social skills which encourage us to debate and discuss, preferably with people of differing perspectives. In the city, you are always in the agora, the marketplace. Your brain is jiggled, you are challenged, solutions pop forth. This is how we build the world, and it is happening right here, right now, day after day.

Walt Whitman, our city’s greatest poet, wrote:

Keep your splendid, silent sun;
Keep your woods, O Nature, and the quiet places by the woods;
Keep your fields of clover and timothy, and your corn-fields and orchards;
Keep the blossoming buckwheat fields, where the Ninth-month bees hum;
Give me faces and streets! give me these phantoms incessant and endless along the trottoirs!
Give me interminable eyes! give me women! give me comrades and lovers by the thousand!
Let me see new ones every day! let me hold new ones by the hand every day!
Give me such shows! give me the streets of Manhattan!

I’m with Whitman. This is the New York we at Warburg are selling every day to those lucky enough to be a part of it.

Courtesy of Katie Shaffer and Jenny Kendrick of Chase International

Tahoe’s lakefront homes come with an array of unique amenities and features – distinctive architecture, aquamarine crystal waters, private shoreline enclaves, and on occasion, a 30-car collector’s garage. At least that’s one of the many perks to Incline Village’s Sierra Star estate, which was recently listed by the Donovan Group of Chase International Real Estate on behalf of the owner and Commerce One co-founder Tom Gonzales for $49,900,000.

Located on Lakeshore Drive, the 4.3-acre property was accumulated through land acquisitions over several years by Gonzales who began purchasing the property lot by lot in August 1999. He took down five homes in the process, left three standing, and then added the Carriage House, a 12,000-square-foot collector’s garage with 2,500 square feet of living space above. Interested buyers can purchase the entire estate, which comes with four homes and 330 feet of shoreline, two private piers, two buoys, or buy any combination of the five parcels, including one lakefront vacant lot with private pier.

Gonzales worked closely with Gary Pulver, owner of Incline Village’s Pulver Construction, in the design and construction of the prized Carriage House. The 30-car garage sits just inside the main gate of 1131 Lakeshore Drive, and was built specifically for his extensive collection of rare cars and motorcycles.

“I was 100 percent involved in the planning and execution of the Carriage House,” Gonzales said. “It’s pretty unique in that it is comprised of two levels including a 12 x 60 foot elevator. It serves as a collector’s garage and is large enough to accommodate nine parked buses underground.”

“Sierra Star Lake Tahoe is an amazing place to enjoy the lifestyle on Lake Tahoe’s shoreline,” said Kerry Donovan, of Chase International’s Donovan Group, who is listing the five-parcel property.

Nestled in one of North America’s greatest natural playgrounds, Gonzales has great appreciation in the estate grounds. The properties were pulled together with several walkways and trails to create a park-like setting with aspens, maples, pine trees, and a majestic 90,000-gallon man-made waterfall.

“The property has so many amazing aspects,” Gonzales said. “It’s beautiful beyond words, with lifts on both piers, a private beach – it’s everything you want at Lake Tahoe.”

While Sierra Star had previously been available as a private sale, there is a new price which has been adjusted by more than 15 percent. The estate can be sold to five different buyers for five different properties said Chase International listing agent Megan Warren who describes Sierra Star as an incredible opportunity to establish a family legacy in Lake Tahoe.

“There are three lakefront-properties (and one ready to build lot), but overall it’s a magnificent piece of land including a beach bungalow on the pier – you just don’t see that anymore,” Warren said. “It’s absolutely priceless as a family compound.”

The individual parcels include the Park View House ($6.9 million), a 4,277-square-foot home with 29 feet of lake frontage and a private entrance from Pine Cone Circle. The Main House is located on one acre and boasts 10,695 square feet, seven bedrooms and eight-and-a-half bathrooms for $14.9 million. The Lakeview House is offered for $9.3 million and is situated on half an acre with 63 feet of lake frontage. A build-able lot with 100 feet of sandy beach and private pier is available for $9.9 million and the Carriage House with collector’s garage is offered for $8.9 million.

“Sierra Star is a construct-your-own lakefront estate to fit your specific lifestyle,” said Debbie Hansen, listing agent of Chase International. “You can see all the attention to detail the minute you step on to the property.”

For more information about Sierra Star, contact Chase International’s Donovan Group, luxury home and lakefront specialist (Kerry Donovan, Megan Warren and Debbie Hansen) at www.Inclinevillagelife.com, kdonovan@chaseinternational.com, or call 775-750-2190.

Headquartered in Lake Tahoe, Nevada since 1986, with eight offices in the region (Zephyr Cove, Glenbrook, Incline Village, Tahoe City, Squaw Valley, Truckee, South Lake Tahoe and Reno) and one in London, England, Chase International and its exclusive affiliations handles a large share of the country’s property. A recognized leader in the world of real estate, Chase International continues to grow, having added 65 Realtors® to their ranks in the past twelve months.

With 250 professional Realtors® boasting an array of industry certifications and the highest volume per sales agent in the area, Chase International successfully represents homes at all price levels. For more information about Chase International, visit www.chaseinternational.com.

Courtesy of LandVest

Photo: Indian Head, Northeast Harbor, ME Listed At $15,500,000 was the highest recorded residential sale in the state of Maine. Story Litchfield was the broker.

Despite global economic and stock market concerns, the high-end coastal Maine real estate market is seeing a positive increase in activity. Terry Sortwell of LandVest in Camden, Maine reports on the coastal Maine real estate market. “In the last six weeks we have had an unexpected surge in the number of productive showings in midcoast Maine. Despite market conditions, the buyers that we have spoken to lately do not appear to be concerned with making a real estate investment. On the contrary, they feel they are getting a good deal and feel a sense of urgency: if they don’t buy, someone else will.” That sense of urgency is not without merit. “Several of our recent sales have had more than one person on the waiting list,” says Ruth Kennedy Sudduth, director of the Residential Brokerage Division, “an occurance that we have not seen happen in quite some time.” In addition, the recent activity has a wide spread in terms of price points. Story Litchfield of LandVest’s Northeast Harbor office recently brokered the sale of Indian Point which was the highest residential sale in the state of Maine.

John Saint-Amour from LandVest’s Portland office reports similar increased activity in southern coastal Maine and into the western lakes region. With buyers looking for value, sellers are working with realistic offers and properties are selling. For the entire state of Maine since 1/1/2011, John reports that there have been 15 sales at $2,000,000 and over. LandVest did 7 of these 15 sales. Of the 11 “pending” transactions in the $2,000,000 and over, LandVest is responsible for four of these properties.

William Davisson, also of the LandVest Portland office, reports dramatic increased activity from buyers having interest in properties in Southern Maine. Oceanfront positions, proximity to amenities, accessibility to transportation, and relative turn-key quality define search parameters for these buyers. The recent financial market turmoil has not deterred prospect property visits with most buyers. It is generally acknowledged that value in Maine Coast real estate is present. York and Cumberland Counties currently have three properties pending, and one sold, listed above $3MM. LandVest represented the Sellers for the $4.2MM sale, and is managing two of the pending transactions.

John Scribner, also from the LandVest Portland office, reports there seems to be a sense that the bottom has been realized and that the market is beginning to turn. This phenomenon requires a unique property with realistic pricing (there has to be the appearance of a good deal for all parties) but it is an emotion we are sensing in the market place we have not seen in a long time. The coast of Maine has been a dream of many for many years, but sellers over confidence (over pricing) and market conditions (recessionary times) have limited opportunities for intelligent buyers. The barriers to entry seem to have lifted a bit.

For more information about buying or selling distinctive real estate in Coastal Maine or information about any of the properties that have sold or are under agreement in Bar Harbor, Northeast Harbor and the Down East area, Camden/Rockport and the mid-coast Maine region, York County, Greater Portland and Boothbay Harbor regions, contact one of our Maine Real Estate Brokers.

Courtesy of Chiara Gajar of Lawrence Realty

Photo: Tough Mudder Start

What a weekend for Squaw Valley. Bringing Tough Mudder to the valley in September made what would usually be a quiet weekend look like a mid winter powder day with the number of cars and people here. That being said it was very well organized from parking and registration to the actual event. I think it worked out because of the staggered start times of the approximately 18,000 participants over a two day period. This was not only an event to particpate in, it also had a cause. Tough Mudder has donated over $1 Million to the Wounded Warrior Project.

We challenged ourselves on Sunday and lucked out with an early start time of 8:40am. 600 people started ever 20 minutes for this 13 mile course with 24 obstacles around Squaw’s skiable terrain. Our team, “Fadders and Mudders”, consisted of Ron and I and another couple who are good friends of ours and also competitive adventure racers. Yeah, they have done Primal Quest and Eco Challenge and races of that sort.

Photo: Fadders and Mudders

We were the 3rd wave of starts, so approximately 1200 people were in front of us when we gathered on the start line. Before starting we heard the National Anthem and raised our right hand for the Tough Mudder pledge that basically said… this is not a race but rather an event to be completed, no whining because kids whine and camaraderie and team spirit are of utmost importance. Having checked out the start on Saturday, we knew getting to the second obstacle at the beginning of our wave prevented us from waiting in a bottleneck lineup to complete it. So our team decided it would make sense to run up the first hill and get to the “Kiss of Mud” within the first 50 people or so.

The horn blasted and off we went up the Sunnyside of the mountain run and we were kissing the mud within the first 15 people. We had to belly crawl under barbed wire through muddy water about 18 inches deep. Yep, about a half mile into the 13 mile course and we were soaking wet and had bits of gravel in our shoes and gloves (a recommended bit of apparel). We chuckled as we looked at ourselves, glanced back at the bottleneck forming behind us and headed off on our hike up the mountain run.

To read the rest of the Tough Mudder adventure, visit Lawrence Realty’s blog—click here.

Courtesy of Frederick Peters, President of Warburg Realty 

It has been a bad period for Board turndowns. In the last few months, we at Warburg Realty have lost several major deals because of co-operative Board decisions; several more have been fortuitously snatched from the jaws of defeat by industrious agents who would not take “no” for an answer and managed to get the decisions reversed. In the latter cases, the Board saw financial issues which could have been resolved by asking the applicant a couple of questions, but rather than clarify, they voted to reject. It is as if they forget that actual people’s lives are at stake. As a former Board president myself, I know that in the confines of the Board meeting it is easy to forget how profoundly distressing a Board rejection can be to both buyer and seller. Boards should only use this measure as a last resort. The number of prospective buyers who go on to be excellent tenants, even excellent Board members, in a second co-op after being rejected at a first demonstrates the gratuitous nature of many turndowns. But as agents more often than not we are powerless over this outcome after the package is submitted.

While the package is being prepared, however, the agent has the opportunity to wield substantial influence. This influence can make the difference between a perfect package and one which raises questions in the mind of the Board. Preparing the package is like staging a military campaign; it requires both a plan and a strategy. And what we need while we are doing this planning and strategizing, more than anything, is the co-operation of the principals, most particularly the buyer and the buyer’s attorney.

For most buyers the preparation of the package is an inconvenience to which they want to devote as little time and thought as possible. Even if they know from the beginning what the process is, even if they have served on the Boards of the buildings in which they currently live, the completeness of the information required always comes as a shock and an irritant when applied to THEM. And we as agents understand this. But it is our job to manage this frustration to assemble the most complete and well organized document we can. So herewith a few recommendations:

· Make sure your lawyer provides you with enough time to prepare a good package. Usually 15 business days will suffice. And just as your lawyer should negotiate your contract, not your agent, your agent should prepare your package, not your lawyer. They are good at what they do, we are good at what we do.

· DON’T write the personal letters yourself! And don’t send all your friends the same sample letter either. We consistently get letters all of which are written in the same font, or use the same words, refer to the same experiences, sometimes even contain identical paragraphs. As you can imagine, this doesn’t impress Boards much! What you, as the buyer, should do is figure out who amongst your friends writes well, and which five or six of them can write about different aspects of your life – your kids (if you have them), your family of origin, your philanthropic work, and anything else you feel will give these strangers a well-rounded picture of who you are. And always get extra letters. At least one is bound to be a dud!

· Ideally the letters, both personal and business, are between a page and two pages long. The writers should introduce themselves so their identities are clear. One or two sentences of introduction suffice. I am not a fan of the letters in which the writer devotes ¾ of the space to touting HIS credentials.

· For the financials, pick a date, usually the last day of the preceding month or the month before that. Gear every piece of documentation – bank letters, bank statements, appraisal letters etc.– to that date. And remember every Board contains at least one financial compulsive who will review the financials with a fine tooth comb. So you must be precise. The numbers on your Financial Statement should correlate EXACTLY to the numbers on the back up bank, brokerage, and appraisal letters you include.

· Above all, be patient and listen to your agent. Assembling this data into the coherent format which gives the Board a true and accurate picture of who you are and what your circumstances are takes time and effort, and it IS invasive. But in the end you get the home you chose, and in which you will hopefully live happily for years to come. A little inconvenience is not so high a price to pay for such a good result.

By Penny Parker of The Denver Post
Courtesy of Kentwood Real Estate

Rollie Jordan of Kentwood Co. Cherry Creek is the lead listing agent on some new stunning houses to hit the market in Colorado. Denver Post columnist Penny Parker writes:

“David Duval, the former No. 1 golfer in the world, and his wife, Susie, are selling their two Cherry Hills mansions.”

To read the article in its entirety, click here.