Luxury Real Estate

By Robert Lockard

Nick Antonicello, Director of Sales for Unique Homes, pointed out an interesting story to me last week in the Los Angeles Times Blog. You might have already heard about it, but I just want to put in my two cents about the whole affair.

Peter Viles, Senior Producer for Real Estate at LATimes.com, wrote in his blog entry that Donald Trump, possibly the best-known real-estate developer in the world, is seeking to buy Ed McMahon’s mansion to save him from foreclosure.

In an even more bizarre turn of events, Mr. Trump now might be having some competition for buying Mr. McMahon’s luxury home. That’s according to a new blog post today by Ann Brenoff, author of the Los Angeles Times’ weekly “Hot Property” feature.

As Mr. Spock would say, “Fascinating.”

To be honest, I’m not sure what to make of this story. I mean, Mr. McMahon certainly seems like a good man who simply let his finances get out of control until he went from delivering oversized million-dollar checks to being unable to pay for his multimillion-dollar luxury property. His story just seems remarkable and bitterly ironic.

Since he went public with his mortgage troubles, it appears that Mr. McMahon will now be able to make it through this difficult experience fairly well. Competing offers on a house that’s about to be short sold is pretty impressive, I think.

I guess, in the end, my point is: Is this justice? I mean, not everyone can be helped like this. Is Ed McMahon’s celebrity status the main reason why he is receiving this attention and assistance? I’m uncertain of the answer to these questions. I hate to see anyone suffer, but is some suffering just while other suffering should be alleviated, and how do we judge that?

I believe that life is generally good, although it is difficult and filled with perils. Mr. McMahon seems to have had a very good life, gaining much more success and fame than most people will ever know. I feel bad that he is facing failure near the end of his life, but perhaps that is a lesson he needed to learn. I am sure we all must face failure and seek to succeed afterwards. Hopefully we will learn to be better people in the process.


Editor’s Note:
Robert Lockard is the Public Relations & Media Specialist with LuxuryRealEstate.com. I am Robert. I create all of Luxury Real Estate’s newsletters, write the editorials in LuxuryRealEstate.com Magazine and much more. I was really tempted to call this blog entry “Wake up with the King” Luckily, I refrained. You can share your blog entries on the Luxury Real Estate Blog by emailing them to me. By the way, ordinarily I would link to the two blog entries above via their TrackBack links, but they don’t appear to be working, so I just used their regular links. The photo of Mr. Spock is from www.flickr.com/photos/cultureculte/2306916969 and it is the copyright of culture.culte.

By Andrew Harper

Many people have a list of places they’d like to visit before they move on to the next world; here are a few American suggestions of my own.

For conversation’s sake, I have avoided the obvious targets, but a stroll across the Golden Gate Bridge or a trip up the Empire State Building is still definitely worth it.

Though we are lucky to live in a beautiful country, I have focused on smaller, man-made locales, simply because a catalog of pretty American places could stretch on forever.

This list is admittedly subjective, but it comes from 30 years of professional wandering. Some places are more well-known than others, but all share a sense of tranquility and wonder.

And since I review small boutique hotels for a living, I have included nearby recommended places to stay. Happy travels!

Madison Valley, Montana

Montana’s Madison Valley, which runs between the Madison and Gallatin ranges down to West Yellowstone, is magnificent Lewis and Clark territory. This is unspoiled land, vast and uncompromising – everything you hope Big Sky Country will look like. Harper Recommended Hotel: The Lodge at Sun Ranch.

San Francisco de Asis Church, Ranchos de Taos

Famously painted by Georgia O’Keefe and described by her as “one of the most beautiful buildings left in the United States by the early Spaniards,” this handsome adobe mission a few miles outside of Taos Pueblo yokes together a staggering five centuries of American history. Harper Recommended Hotel: Casa de las Chimeneas, Taos.

Whaling Museum, Nantucket

At its whaling peak during the first half of the 19th century, the small island of Nantucket had 88 ships scattered across the oceans. The Whaling Museum is wonderfully evocative of this era (plenty of scrimshaw and rusty harpoons), and out-of-season Nantucket Town, with its Greek Revival mansions and cobblestone streets, is equally enchanting. Harper Recommended Hotel: The Wauwinet.

Battery District, Charleston

The historic Battery District of Charleston, South Carolina, home to dozens of stately antebellum mansions, is one of the prettiest American neighborhoods I’ve ever explored. Follow the promenade along the shores of the Charleston peninsula; Fort Sumter, where the first shots of the Civil War were fired, sits broodingly across the Cooper River. Harper Recommended Hotel: Planters Inn.

Isabella Stewart Gardner Museum, Boston

Housed in a charming Venetian-style palazzo, this gem of a gallery displays works by Rembrandt, Michelangelo, Whistler and Sargent. It’s small enough to tour in an hour or so, and you can spend the rest of your time enjoying the sunny, flower-filled courtyard. And if your name happens to be Isabella, you get in free. Harper Recommended Hotel: XV Beacon.

The Four Seasons Restaurant, New York

If you had to choose only one restaurant in New York City to visit, the Four Seasons Restaurant would be the one. The city’s prettiest dining room was designed by architects Mies van der Rohe and Philip Johnson, and astutely hasn’t been touched since its introduction in 1959. The Pool Room is a study in muted sophistication, despite some of the outsized egos at the tables. Harper Recommended Hotel: The Lowell.

The Rothko Chapel, Houston

This small, non-denominational chapel located just off the Menil gallery in Houston’s Museum District seems unassuming at first, but spend some time surrounded by the 14 mysterious paintings by Mark Rothko, and it may start sinking into your skin. Harper Recommended Hotel: St. Regis.

The Huntington Gardens, San Marino, California

Mr. Huntington did quite well in railroads, and he’s left us with a wonderful afternoon escape just outside of Los Angeles. After admiring some of the spoils of his industry – a Gutenberg Bible, a Shakespeare folio, Thomas Gainsborough’s “The Blue Boy” – venture out into the superb botanical gardens, home to dozens of unique environments: an almost eerily authentic Japanese garden, a lily pond straight out of a Monet painting, and an entrancing collection of cacti. Harper Recommended Hotel: Hotel Bel-Air.

Robie House (Frank Lloyd Wright), Chicago

The Robie House, the world’s first modern home, was designed in 1908 by architect Frank Lloyd Wright, and still seems startlingly contemporary 100 years later; with its broad horizontal lines and sleek art glass windows, it looks like a modernist yacht. Wright himself showed up to protest the planned demolition of the house (it was to be replaced by a seminary dormitory) at the ripe old age of 90. Harper Recommended Hotel: Four Seasons.

The Oregon Coast

Highway 101 along the Oregon Coast swerves through 360 miles of jagged cliffs, rocky outcrops, sweeping dunes and temperate rain forests. The coastline lacks deep harbors, so there are no large cities here – just old logging towns, fishing villages and the occasional artist colony. And the entire coast is public land, which makes for excellent picnic opportunities in rugged and remote spaces. Harper Recommended Hotel: The Stephanie Inn, Cannon Beach.


Editor’s Note:
For more information on this company, contact Margaret Temple, the Business Development Manager at Andrew Harper in Austin, Texas. Andrew Harper is an exclusive partner with Luxury Real Estate. This is some great advice for travelers seeking great deals. For more than a quarter century, Andrew Harper has explored the world as an incognito traveler. Always paying his own way, his unbiased reviews of the finest hotels, villas, yachts, restaurants and culturally authentic travel experiences are legendary. Through a variety of media, complemented by highly personalized travel planning services, members of Andrew Harper’s luxury travel club enjoy the resources to dream, plan and realize an unparalleled level of globetrotting. This blog entry is chock full of great information, just like Andrew Harper’s previous blog entry. Be sure to keep checking back at the Luxury Real Estate Blog for scoops like this!

By Michael Marquette
From his blog: View from the Bridge: Michael Marquette’s comments to the Australian Financial Review

Homeowners and investors have welcomed suggestions that the Reserve Bank of Australia will cut interest rates this year, but will the banks pass the rate cuts onto borrowers?

Prime Minister Kevin Rudd has told Australians to change banks if they fail to pass on rate reductions. The banks have had no problem increasing rates to levels higher than official rate increases and have even increased rates despite the Reserve Bank keeping them on hold.

In an interview with The Australian Financial Review last week I was asked what it would take to restore confidence in the market. I expect buyers to remain cautious until the banks show that any rate reductions will be passed on. I believe a rate cut of around 1 percent is needed to restore buyer confidence as I’m hearing increasingly that buyers and vendors are skeptical that banks will pass on the rate cuts. A reduction of 100 basis points will result in the market reacting in a positive way, even half a percent will be looked on cautiously.

So the question is buy now or wait? The answer is simple. There are some fantastic buys in the luxury market at the moment and this will continue for the foreseeable future. As the stock market wobbles, dividends decrease and share prices drop bricks and mortar will become a major focus for many investors.

If you find the right luxury property at the right price and choose the right lender, your decision is an easy one to make. My only advice is to ensure sure that you keep your lender honest, and if “changing banks,” as PM Rudd suggests, make sure you are aware of all fees and costs that may apply.


Editor’s Note:
Michael Marquette is the co-Founder and Director of Marquette Turner Luxury Homes in East Sydney, New South Wales, Australia. Founded on Australia Day 2007 by Marquette and Simon Turner, Marquette Turner is a property consultancy company covering the Australian states of New South Wales and Victoria. Marquette has a background in medicine and a large retail and wholesale business. When banks charge unfair fees for their services, they are not building good relationships of trust with potential clients. I prefer kindness and openness when working with people. Thanks for the insightful blog entry, Michael! The photo of the Australian dollar coins is from www.flickr.com/photos/astro-dudes/913087028 and it is the copyright of Claire L. Evans.

By Brian Langhorst

I have heard many times over that print is dead, but this is false information! Whoever is saying this does not know the audience for luxury homes and their habits. Yes, people look to the Internet for information and, according to a National Association of REALTORS® survey, over 80% of home seekers are starting their search online for real estate.

The main question we should think about is how do they know where to look for real estate online? The answer is print!

I had a very interesting conversation yesterday with Victor Lund, co-Founder of the WAV Group. He said that the typical consumer segment of the luxury property market still looks through newspapers, magazines, and other print media for news and information. Customers need guidance and print provides this guidance to learn more about real-estate opportunities on the Internet. With a proper call to action this high-net-worth audience will be driven to your website through your print advertising campaign.

I look forward to your replies. Let me know how we can help you create targeted print ads to drive more traffic to your website.


Editor’s Note:
Brian Langhorst is LuxuryRealEstate.com’s Membership Manager. He meets members’ unique needs through the dynamic services LuxuryRealEstate.com provides. Victor Lund was so kind and helpful when he came to the Luxury Real Estate headquarters here in Seattle. He had a lot to share about our Web site, which is the most-viewed luxury real estate site in the world, and many other topics like the one Brian just discussed. It’s always nice to meet nice geniuses and well-grounded visionaries. The photo above is from www.flickr.com/photos/joebeone/2528716096 and it is the copyright of joebeone.

By Michael Marquette

From his blog: Australian Auction Clearance Rates Crash!

Auction Clearance rates for the week ending July 27, 2008 indicate a property market in crisis. Sydney’s Clearance rate of just 36.5 percent is indicative of the disparity between vendors and buyers, with some real-estate agents caught in the middle.

Luxury real estate agents’ skills in both marketing and negotiating homes are being put to the test and many are being found short. Agents with reputations for overpricing properties (the practice of overpricing is used by some agents to win listings) are struggling to match the prices offered by buyers with the price expectations of vendors. Agents with the ability to communicate the best strategy at the time of listing are best placed to negotiate the highest price for vendors in the current market – well before a property is seen to become “stale.”

Getting the right agent is the key to successfully selling your home. Given that the total number of sales is down and the list of unsold properties is increasing, it is more important than ever to ensure that your luxury home is in safe hands. Given that spring, and the usual seasonal increase in the number of listings, is beckoning I stress the importance of making the right decisions the first time!



Editor’s Note:
Michael Marquette is the co-Founder and Director of Marquette Turner Luxury Homes in East Sydney, New South Wales, Australia. Founded on Australia Day 2007 by Marquette and Simon Turner, Marquette Turner is a property consultancy company covering the Australian states of New South Wales and Victoria. Marquette has a background in medicine and a large retail and wholesale business. Some markets are facing tough times, and it’s good to be aware of potential issues as well as opportunities. The photo of the crashing wave is from www.flickr.com/photos/victorgeere/24539591 and it is the copyright of Victor Geere.

By Jean-Yves Piton

While luxury properties are part of the conspicuous consumption group, unlike several other goods, their proposed premium prices are not a function of the premium brands they are attached to. Instead, factors such as location, amenities, space, architecture and historical value justify their premium prices around the world.

So, what type of luxury homes would you acquire in major metropolitan cites worldwide for $1 million USD in 2008?

According to “What $1 Million Buys in Homes Worldwide” by Matt Woosley, Friday, January 11, 2008, provided by Forbes.com, in New York, you can expect a 647-square-foot Turtle Bay condo with 45-square-foot balcony, white oak floors, and 11-and-a-half-foot ceilings. In London, you can purchase a one-bedroom, one-bathroom flat in Primrose Gardens. In Hong Kong, you can acquire a three-bedroom, 825-square-foot apartment in a high-rise between the residential areas of Aberdeen and Pokfulam.

While $1 million USD grants an invitation to the millionaire's club, it clearly does not buy the most spacious and astonishing luxury property in most top metropolitan cities worldwide in 2008. Based on the figures discussed earlier, such properties might just work as a pied-a-terre during a business trip or a short vacation.



This also explains why more buyers are currently opting for luxury fractional ownership, the trend ahead. This being said, keep in mind that this rapidly increasing trend applies to everything luxury in 2008 (from designer handbags to the finest properties).

So, how do you market a luxury fractional property? Evidently, it is easy to assume the same way you would promote a luxurious property. Partly due to the traditional premium variables like location, amenities, space, architecture and historical value. Also, though a fractional ownership, you could insist on the long-term investment, just as for any other luxurious property.

Nevertheless, there is another element, which must not be omitted to successfully advertise a luxury fractional property. That is promoting the dream to potential buyers and investors. There must be a fine balance of both emotional and rational communications to connect potential buyers to the properties through careful advertising. Where the rational communication focuses on owning a luxurious property (one of a kind), promoting the dream (the emotional communication) helps foster a sense of emotional connection (a state of being and/or sense of being).


Editor’s Note:
Jean-Yves Piton is the Global Services Membership Manager for LuxuryRealEstate.com. He assists Bente Madtsen, the Director of Global Services, in expanding the LuxuryRealEstate.com brand into even more countries around the world. Fractional ownership is a great tool for vacationers and other people looking for flexibility and great investment opportunities. I actually wrote an editorial on Private Residence Clubs, also known as fractionals, in the spring 2008 issue of LuxuryRealEstate.com Magazine. Check it out! The photos of the front and back of the “$1 million” bill are the copyright of Simon Davison.

By Robert Lockard

Jim Walberg, the co-Owner/Broker of The Bay Area Team in San Francisco, told me something really cool a few days ago. He said, “Bloggers are the most open and sharing community I have found on the Internet. They want every blogger to win!” I have definitely found that to be true.

As a blogger, I often find myself learning a great deal about what is effective and what is not from other bloggers with more experience than me. I have received a lot of positive feedback and support in my blogging from Eric Kodner, a luxury homes Broker with Wayzata Lakes Realty and Madeline Island Realty. Eric is an awesome blogger, and he has more than 110,000 points on ActiveRain.

In addition, I just did a simple search on ActiveRain for “blog tip” and I found a whole bunch of great ideas for improving my own blog posts. I particularly like Ronnie Roach’s Blog Tip of the Week. He confirmed my suspicion that I should use a different term than “blog” to describe each post I write. Another great resource is the Daily Blog Tips Web site.

There are many other examples out there, but these show how helpful and open the blogging community is. Jim is right! He’s been blogging for two years and he currently has two blogs, one called Caribbean Islands Realty and another called East Bay Real Estate. He also contributes many of his blog posts to the Luxury Real Estate Blog, which I appreciate very much.

I appreciate all the people who take the time to let me know when they agree with what I write and those who share their disagreements, too. Feedback is very helpful, and bloggers are often happy to give it. In fact, I hope you feel free to let me know if you think I’m a little naïve on this topic or to share your own experiences with helping fellow bloggers or receiving help from them.

By the way, Jim shared this quote with me as I was writing a news release about his upcoming presentation at the 13^th Annual Luxury Real Estate Fall Conference on effective blog strategies and tactics and the positive effects that can come from blogging. This event will be in Philadelphia on October 11-14, 2008 and you're welcome to attend.


Editor’s Note:
Robert Lockard is the Public Relations & Media Specialist with LuxuryRealEstate.com. I am Robert. I create all of Luxury Real Estate’s newsletters, write the editorials in LuxuryRealEstate.com Magazine and much more. You can share your blog entries on the Luxury Real Estate Blog by emailing them to me. Thank you very much! The photo of Rosie the Blogger is from www.flickr.com/photos/notionscapital/2493066577 and it is the copyright of Mike Licht, NotionsCapital.com.

By Janice Ridge

An historic luxury home has come on the market in Piedmont, Calif., USA. Listed at $3.5 million by Prudential California Realty Fine Homes Specialist and Top-Producing Broker Vickie Robinson, the house is the very oldest house built in the community of Piedmont. It’s located in an enclave of homes in the Oakland Hills known for its excellent public school system, its small-town atmosphere, low crime rate and desirable views of the entire Bay Area.

How old is old? Well that depends. In Piedmont, that is 130 years old or 130 years new, depending on your perspective. Built in 1878, the home is old by Bay Area standards, where the average “older” home was built in the 1920s. This is a vintage luxury home that needs a lot of TLC, so for the price, what you get is a historically significant property in a central Piedmont location with all the amenities that Piedmont has to offer. What you don’t get is a remodeled kitchen and bathrooms!

For more information on this little piece of Piedmont history, contact Vickie Robinson at vickie.robinson at prurealty.com or call her at 510-703-8207.


Editor’s Note:
As the Director of Membership & Relocation at LuxuryRealEstate.com, and herself a licensed REALTOR®, Janice Ridge is devoted to coordinating the efforts of all of the LuxuryRealEstate.com membership and Account Managers, so that each of our members is given superior service. This is a great luxury home for sale. Thanks for pointing it out, Janice! I’d like to know more about this home’s history, like who lived in it, what famous events it’s been through and things like that. Old things fascinate me.

By Iain Stewart

As recently reported by Nadine Hawa in her CNBC article “International Brands Eye Dubai Real Estate,” all eyes are on Dubai at this moment. In her article, Hawa notes that world-famous real-estate developer Donald Trump is particularly interested in “The Palm Jumeirah.” While many other international luxury brands are also seeking to build new luxury developments in Dubai, current new constructions, such as Verde Residences and Offices, are going totally green and present the most innovative eco-friendly technologies and amenities.

The Power of Green
Spanish for the color green, Verde symbolizes the very essence of life and all things living in perfect harmony with the elements. An expression that conjures up a sense of wellness and optimism for the future of our planet, Verde reinforces the eternal belief that making peace with nature is prerequisite to making peace in the world and finding peace within VERDE.

Verde – The Project
The next big thing in contemporary lifestyle, Verde elevates environmental consciousness to a whole new level. Towering over the clear blue skies of the world’s first purpose-built maritime centre that is Dubai Maritime City, Verde Residences and Offices are designed to achieve Gold Standard rating (LEED). It combines the best of luxury and green engineering to offer you a new investment opportunity in the most exciting freehold waterfront community in the heart of Dubai.

Like the prow of a ship, the elegantly curved glass tower that is Verde Residences points directly towards the harbor, enhancing its relationship to the ocean and marina, and its prominence within Dubai Maritime City. Masterfully designed to open up panoramic views to the ocean, Verde’s orientation and shape allows it to shield itself from the strongest solar gain yet harness the wind, and features an integrated wind turbine at its top, where wind speeds are the greatest.



Verde Residences
The 40-story residence tower includes luxurious 2- & 3-bedroom residential units and 4-bedroom deluxe harbor-side townhomes. With a swimming pool, kids’ pool, gymnasium and world-class retail and leisure facilities, Verde Residences offer a plethora of amenities that bring day and night alive.

Verde Offices
At the heart of Dubai Maritime City, the world’s first purpose-built maritime centre, Verde Offices set a new international standard for a high-performance building. Shaped to harness the power of natural forces, Verde Offices utilize advanced technologies and climate appropriate building systems to offer tenant profitability through increased productivity. With podium offices and the unique sky garden, Verde Offices offer various exercise and leisure spaces that are embellished with trees, plants and generous water features; an oasis that promises a respite within the confines of the high-end business experience.

The Location
Dubai Maritime City, the world’s first purpose-built maritime centre, is a 227-hectare, fully-equipped, iconic and multi-dimensional maritime centre providing a world-class infrastructure and environment for the global maritime industry and related sectors. Dubai Maritime City is driven by the needs of both local and international marine and maritime communities for a dedicated hub.

Located at the heart of Dubai, next to Port Rashid, Dubai Maritime City capitalizes on the strengths of Dubai as a regional and international hub for trade and commerce, redefining the global maritime industry. It will provide a strategic location for the maritime industry sectors across the full spectrum of maritime business, maritime management, maritime services, maritime retail and recreation, maritime education and research, ship and yacht repair and maintenance.

Green Technology
Buildings can have a profound effect on the environment, and the way we live our everyday lives. And Green Building brings to life the philosophy that architecture must strike a balance with its environment. It is the practice of increasing the efficiency with which buildings use resources – energy, water and materials, while reducing the building’s impact on the environment through better site planning, design, construction, operation and maintenance. Verde, like a classic Green Building, takes advantage of renewable resources, through solar hot water, photovoltaic cells, a grey water system, and an efficient glass facade with integral shading devices, to name a few of the techniques to achieve not only ecological but aesthetic harmony between a structure and its surrounding environment, natural and constructed. The triumph of Green Building practices and sustainable systems in Verde can reduce electricity usage and carbon emissions to such an extent that it is as good as planting over 300,000 trees or taking 340 cars off the road.


Editor’s Note:
Iain Stewart is the Luxury Specialist at Whole World of Property. He is a highly respected figure in the international property industry, specializing mostly in Dubai, Abu Dhabi, London, Berlin, Caribbean, New York, Chicago, Los Angeles and India. He can be contacted at +44 (0)207 788 7994 or +44 07910 891 917. This is great – a blog entry on Dubai just after we heard from an expert on another city rising in international importance, Marrakech, Morocco. It’s great to see so many Luxury Real Estate members enjoying success in their global markets

By Robert Lockard

“Photography is not about cameras, gadgets and gismos. Photography is about photographers. A camera didn't make a great picture any more than a typewriter wrote a great novel.”

So says Ilya Moshenskiy, the Principal Photographer of Ilya’s Photography in Washington state. I love that quote because, as a writer, I can definitely relate to his point about great works being written by people and not by keyboards or computers.

Ilya is an amazing photographer in a variety of fields, including luxury homes, weddings, events and cuisine. He has been the Official Photographer of the past nine Luxury Real Estate conferences and he always produces the finest photographic masterpieces. Just ask Jim Walberg, a LuxuryRealEstate.com member in the Caribbean.

Check out these amazing photos that Ilya took at this year’s Seafair, Seattle’s big summer festival.

To see more of Ilya’s photos from Seafair 2008, click here!

I’ll end with one more quote from Ilya. He uses only the finest photographic tools in his work, but he also notes, “It doesn’t matter what kind of camera you are shooting with; the real issue is who is behind the camera. Great photography requires perfect lighting and composition. It will always be a human behind the viewfinder. High-end photography demands exceptional skill and not every photographer is up to the task.”

Ilya certainly is up to the task. Contact him at ilya at ilyaestate.com or 425.883.2246 today!


Editor’s Note:
Robert Lockard is the Public Relations & Media Specialist with LuxuryRealEstate.com. I am Robert. I create all of Luxury Real Estate’s newsletters, write the editorials in LuxuryRealEstate.com Magazine and much more. All of the photos above are the copyright of Ilya’s Photography.