Luxury Real Estate

Courtesy of Rimontgó

The Real club de Golf de Pedreña is unusual in many ways. Firstly, founded in 1928 it is one of the older and more established golf clubs in Spain, but whereas most of the country’s courses are scattered along the Costa del Sol or Costa Blanca, these verdant corridors are situated in the beautiful region of Cantabria, on Spain’s Atlantic north coast.

Here, across the bay from the elegant city of Santander and near the exclusive village of Somo, keeping the courses green comes naturally, for while this region has itself got a noteworthy history as a stylish summer destination, the intense greenery of the landscape reminds one of Ireland. Often called the ‘other Spain’, it is an area of immense beauty, where the green of the land competes with the deep blue of the sea. Cantabria is marked by valleys and coves that afford the land a certain intimacy and romance that has made the likes of Santander a classic gem in the tradition of Biarritz, Nice or San Remo.

It is within this setting that the renowned golf club finds itself, overlooking the bay and the lights of Santander across it, yet surrounded by peace and nature. Originally formed out 274 smallholdings, the Real Golf de Pedreña rapidly became a favourite of the then-reigning royal family – a tradition that has been revived under the current king, Don Juan Carlos I. As the course evolved it also became the scene of many a national and international competition, including three Spanish Open championships and memorable encounters between some of the world’s best players.

Most prominent among these is the legendary Severiano Ballesteros, who can be considered a local and indeed a son of the club. The Real Golf de Pedreña will forever be linked to Spain’s greatest player, a further feather in the cap of a club that carries an ambience of undeniable refinement about it. A classic in every sense of the word, this is golf club with a course that has evolved and been improved over the years, but which retains the original spirit that gave it life. Today the original 18-hole course is complimented by a modern 9-hole addition – designed by none other than Seve Ballesteros.

An elegant clubhouse with restaurant, bar, terrace, swimming pools, youth club and padel tennis courts completes the list of facilities, but it is the effortless refinement of this club that continues to make it one of the most distinguished golf clubs in all of Spain.

Courtesy of Frederick Peters, President of Warburg Realty

How do co-op Boards manage the purchaser approval process, and are they acting in an appropriate manner when doing so? These questions are the driving forces behind a contentious new bill which is currently before the New York City Council. The bill has been proposed to end hidden discrimination in the co-op selection process; it would require that all Board members sign an affidavit every time they reject an applicant confirming that they have not discriminated based on the New York City Fair Housing guidelines, which are among the most stringent in the nation. The bill would also create some parameters around Board response time: Boards would be given a certain number of weeks to request more information, a certain number of weeks within which to meet or reject an applicant without a meeting, and a final number of weeks within which to render a decision after a meeting.

Last week at The Real Estate Board of New York, members of the Residential Brokerage and Residential Management Divisions met together to discuss the bill and how REBNY should best respond to it. All were in agreement that, as long as they are reasonable and leave the Boards some latitude, time limits make sense. It is simply not fair to punish prospective purchasers, who only want to buy a new home, and prospective sellers, who only want to sell the home they have, by forcing them to waits months for a decision, or by issuing a seemingly endless series of requests for additional information. And of course these delays are particularly dispiriting when the ultimate answer from the Board is a “no”.

The other part of the bill requires a more nuanced response. First, those of us who have been in the industry for many years must acknowledge that co-op Boards do occasionally indulge in discrimination. It is not the norm, but it happens. Many protected categories, including race, children and family, sexual orientation, marital status, and religious faith, have been known to lead to turndowns in certain buildings. That said, the vast majority of co-op Boards act with the utmost integrity in pursuing the greater good of the buildings they manage. Evaluating prospective purchasers occupies a small percentage of their time; most of their work as a group is devoted to overseeing the staff and physical plant of the buildings for which they are responsible. And let’s not forget that this often thankless and time consuming task is done on a volunteer basis.

So the question is: is this bill the most effective way to guarantee that Boards do not illegally discriminate in their choices? I would argue that the answer is no, for several reasons. First and foremost, the proposed law is simply an invitation to litigation. Even if it does not cut back on discrimination, it will certainly discourage any well-informed person from wanting to expose themselves to lawsuits by serving on a co-op Board. Insurance costs for co-op buildings would almost certainly skyrocket. And who would be in charge of all those affidavits? And affidavit or no affidavit, who will admit to discriminating? Often Board members are not even aware that questions they ask are illegal or inappropriate. And some believe that because a co-op Board is a private corporation, these laws do not apply to them.

At the REBNY meeting I attended, Hall Willkie, the President of Brown Harris Stevens, had a terrific suggestion: Board education. Real estate agents are required to complete Fair Housing training. Why not do the same for Board members? One hour each year, why not require that an attorney come in and school the Boards on what they can and cannot ask, or consider, when evaluating a candidate? Before the law is punitive, it should be didactic. I am certain that Board education would substantially reduce discrimination of all sorts in the co-op world. And that would be a win/win outcome for buyers, sellers, Board members, and brokers.

You can read more on www.warburgrealty.com/blog.

Courtesy of Jack Cotton of Sotheby's International Realty

Jack Cotton has built his reputation as one of the most respected Cape Cod real estate professionals on the foundation of integrity. The integrity to put his customer first in every single situation. Jack Cotton is highly regarded in the Cape Cod community, by his real estate peers throughout the country, and perhaps most importantly, by his customers and clients. Jack specializes in luxury properties and Cape Cod’s waterfront homes.

Courtesy of Nick Horton of Luxury Real Estate New Zealand

Changes to the Government's business migration scheme will make it easier for rich foreign investors to qualify as investor migrants.

These include a reduction in the number of days a $10 million investor has to spend in the country from 73 to 44 days, and recognizing investments in bank bonds and equity, Immigration Minister Jonathan Coleman announced yesterday at a breakfast meeting in Auckland.

Business migrants will also need to only meet one of the two requirements of either having managed a business with five full-time employees or a business with at least a $1 million annual turnover, instead of both.

But what immigration advisers say will attract investor migrants, especially those from China and the rest of Asia, are that funds can now be transferred through foreign exchange companies and not just banks, and the recognition of residential property, other than their own home, as an "acceptable investment".

The focus would be for these investors to build new subdivisions, houses and apartment blocks to increase the total housing stock available to New Zealanders, Dr Coleman said.

"The marketing of our business migration package will target key OECD markets including the United Kingdom and the United States. We're also looking at the major developing markets in India and Southeast Asia," he said.

Annually, new migrants add $1.9 billion, tourists $9 billion and international students more than $2 billion in foreign exchange.

"Given these compelling figures, my number one priority has been to ensure immigration is contributing to the Government's economic growth agenda," Dr Coleman said.

Immigration was working closely with New Zealand Trade and Enterprise to link high-worth migrants with New Zealand businesses, the minister added.

Stakeholders in the immigration industry have welcomed changes with some saying it could attract hundreds of new investor migrants here.

The scheme, set up a year and a half ago to promote greater investment, has attracted $562 million.

“International investors are comfortable with investment into residential property so we expect this new opportunity to be well received” said Nick Horton, co-owner of Luxury Real Estate New Zealand. Horton is part of a group of companies who regularly run international seminars attracting investor immigration applicants, and through their website www.investorimmigration.co.nz

Investor Immigration scheme changes

* Investors with $10m need to spend only 44 days instead of 73 days during the three-year investment period.

* Residential property, bank bonds and equities now acceptable investments.

* Transfer of funds can be made through foreign exchange companies, and not just restricted to banks.

* Rules around level of business experience relaxed.

Courtesy of Leibowitz Realty Group

BallenIsles Country Club is a premier, gated, residential community of privacy and prestige nestled in the heart of Florida's Palm Beaches. Here, amidst 1,300 pristine acres, the traditions of America's great private clubs are being carried on in a community of 1500 plus luxurious homes (33 unique neighborhoods ranging from 1,800 square foot patio homes and golf villas to more exclusive areas of spacious estate homes. Prices start at approximately $300,000 and go up to nearly $4 million). Boasting championship golf courses, and unsurpassed amenities. BallenIsles is truly an enviable enclave reserved for its members and their special guests. More than half of the BallenIsles community is comprised of year round residents.

• A Magnificent Trio of Championship Golf Courses
• The Ultimate 72,000 square foot Grand Clubhouse

Courtesy of Ilya Moshenskiy of Ilya’s Photography

Ilya Moshenskiy, the official photographer of LuxuryRealEstate.com events, released a new, advanced version of his website www.ilyaphoto.com today. The new luxury photography website has a more user-friendly design, reflecting Ilya’s professionalism, outgoing personality and focus on customer service.

Ilya’s new website has several sections, which demonstrate his specialty in photographing architecture, products, food and editorials. The website also includes 20 testimonials from a variety of clients, including Luxury RealEstate.com President Meghan Barry and Miami Real Estate Senior Vice President Audrey Ross.

Based in the Seattle area, Ilya’s Photography serves clients across the country and around the world. Ilya has taken thousands of photos for restaurants, real-estate brokers and other business owners. His luxury photography helps them sell their products and services more effectively.

Ilya’s Photography clients can log into the new website to easily access all of their photos for use on their websites, print ads and other places.

The new luxury photography website was designed by Ryan Layne and Ilya’s two sons, Vlad and Alex Moshenskiy. Vlad works at Microsoft, Alex is a freelance marketing specialist, and Ryan is a Web developer.

Come back to Ilya’s website often to see his latest work, which he’ll update frequently. Contact Ilya’s Photography for your luxury photography needs.

Courtesy of Leibowitz Realty Group

Mirasol is one of South Florida's most popular gated country club communities. The club is set in beautiful Palm Beach Gardens, Florida and just minutes from the heart of Palm Beach. View the Mirasol country club community video below to take yourself through the community of Mirasol.

Mirasol's club facilities consists of approximately 70,000 square and include: 36 holes of championship golf. The two renowned courses the "Sunset" course designed by Arthur Hills and the "Sunrise" course designed by Tom Fazio. Golf practice facilities consisting of a driving range, short game practice area, practice putting area, and a golf instructional building. Members have access to unparalleled luxury amenities including the golf pro shop, locker room facilities, card rooms, dining room, and steam rooms, 15 tennis courts, tennis pro shop, and junior Olympic size swimming pool.

Courtesy of Kirsty Bryson of Luxury Homes by VAPF

Spanish Businessman Amnacio Ortega in 7th Place

The founder of the Inditex textile empire, which houses internationally renowned names such as Zara, Pull and Bear, Massimo Dutti and Bershka, finds himself once again in one of the top 10 positions on the list of the richest people in the world. Mr. Ortega, who is 75 years old this month, has just handed over the control of the business to Mr. Pablo Isla, until now the vice-president of the company, although the camera-shy Mr. Ortega still remains the company’s majority shareholder.

Mr. Ortega will retire with an estate worth 31.000 million dollars, or 22.300 million euro, 9.100 million euro more than in 2009, when Spain was at a low after suffering the effects of the world crisis.

The Forbes list contains a record number of 1.210 billionaires worldwide, with Mexican Carlos Slim at the top of the list, ahead of Bill Gates, who still holds second place even though he has donated a third of his fortune to the foundation that bears his name.

The biggest loser of the year, dropping from 11^th place to position number 162, is the owner of Ikea, Ingvar Kamprad. The 84 year old Swede has seen his assets deplete from 17.000 to 6.000 million dollars due to tax payments after discovering he was diverting 3% of Ikea’s turnover to the tax havens of Liechtenstein and Luxembourg.

The youngest billionaires on the list are the “Facebook clan”: Dustin Moskovitz, who at 26 is the youngest, Sean Parker, Eduardo Saverin and, of course, Mark Zuckerberg, who has seen his fortune increase by 238% since 2010 and has been one of the most talked about people over the last year after the release of the film about his life “The Social Network”.

Although Asia has surpassed Europe for the first time in the last decade in number of billionaires, 332 vs. 300, respectively, Moscow is definitely the richest city in the world with a total of 79.

According to Forbes, 72% of the richest in Europe built their wealth up from scratch, with Amancio Ortega providing a clear example of this fact.

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 Michael Cruz of Rimontgó

Summer arrives and the thoughts of all keen Spanish cyclists naturally turn to the excitement of the Vuelta de España. This year this iconic race will be held from Saturday August 20^th to Sunday September 11^th, will comprise 21 stages and cover a total distance of 3,000 kilometres.

Already the race is causing a great deal of excitement in Orihuela where the Vuelta will once again end one of its stages. The Mayor, Monica Lorente, confirmed that the race would yet again enable cycling enthusiasts from around the world to witness the beauty of Orihuela, but had news about this year’s route taking a slightly different direction.

The official presentation of the 2011 Vuelta took place recently at the new auditorium in the centre of Alicante and was attended by Mayor Lorente, President of the Alicante Council, Joaquin Ripoll and Gema Amor, Director General of the Costa Blanca Tourist Board. A full programme of activities to welcome the Vuelta to the Orihuela area was announced, including beach, sporting and gastronomic events, and Mayor Lorente emphasised the importance of the Vuelta to the Costa Blanca: “The whole of Orihuela will enjoy this event and businesses especially will benefit commercially from this great celebration of sport. As it takes place during the high season, the area will be inundated with tourists from all over Spain, Europe and the rest of the world; it will be a great way to showcase Orihuela Costa.”

The people of Orihuela have become accustomed to enjoying the spectacle of the Vuelta as it passes through their town, but this year the route will take the competitors – and the world’s TV cameras – in a different direction. The Mayor revealed that, “In 2010 the race passed through the heart of the city and traversed its surrounding districts, but this year it will end right in the coastal area of the municipality, which contains wonderful, award-winning Blue Flag beaches with great facilities. Orihuela Costa is also the capital of some stunning golf courses, including Campoamor, Las Ramblas and Las Colinas. We’re very proud that this part of the Costa Blanca has been selected as the location of the second stage finale.”

There is no doubt that the prestigious road race will introduce a new wave of potential visitors to this picturesque part of the Coast.