Luxury Real Estate

By The Luxury Institute

As the Luxury industry enters 2009, some luxury executives look like deer caught in the headlines–paralyzed by the terrifying headlines and by declining sales. Yet, genuine luxury purveyors know that luxury is, and always has been, a cyclical business. They see 2009, and beyond, as a golden opportunity to deliver on the luxury fundamentals, to radically innovate, continuously adapt their offerings and business models, and position their brands for long-term leadership. Here are some trends we predict for 2009 and beyond:

1. Traditional Luxury Dramatically Accelerates its Internet Activities in Response to Innovators The Luxury Institute has been presenting the empirical case directly from the voice of the wealthy consumer for luxury brands to make their websites the centerpiece of their online and offline strategies since 2006. Nevertheless, the traditional luxury industry has been slow to adopt Web 2.0. Meanwhile, innovators such as Gilt, Ideeli, A Small World, Portero, Vivre, Couture Lab and several off-the-radar players such as Bespoke Global, are gaining traction online via membership models, global communities, and by aggregating categories of bespoke luxury designers and producers in one-stop-shop destinations. Their economics will become much more compelling as the economic downturn makes opening stores and traditional advertising economically challenging. Look for all types of traditional luxury goods and services providers to begin to imitate the techniques of these luxury innovators, or to acquire them.

2. Luxury Awakens to the Influence of Generations X and Y on Technological Adoption and M-Commerce According to a Luxury Institute Wealth Survey of luxury consumers and mobile device usage, 22% of consumers have executed a transaction via a mobile device, while 21% have made a payment via mobile. Those doing so tend to be under 45 years-of-age, but significantly wealthier, with HH net-worth at $5+ million. Luxury should be leading M-Commerce innovation since it creates an enhanced experience for all customer segments. Generation X and Y shoppers are influencing the lightning speed with which consumers of all ages, including boomers, are embracing mobile technology for on-the-go entertainment, search, and transactions. Look for a few luxury innovators to make a more serious effort to experiment with M-Commerce in 2009, especially internationally, as luxury quickly discovers that it must seriously address the mobile needs of the wealthy constituents of Generation X and Generation Y, as well as the mobile needs of Boomers.

3. Price Does Matter - Luxury will Appeal to the Rational Brain Again In the recent boom, some in the luxury industry, and their cheerleaders, deluded themselves into believing that the more expensive an item, the greater its appeal to the wealthy, regardless of quality, functionality and service experience. University research suggested that the more expensive a consumer was told an item was, regardless of the fact that it was the same quality as a much lower priced item, the more the happy chemicals in the brain approached a state of bliss. In times of economic crisis, that high can only last so long. Most of the wealthy are self-made, and have sacrificed to earn every cent while delivering great quality and service to their own customers. Like their customers, they use both sides of their brains to make luxury purchasing decisions. One empirical example: an October 2008 Luxury Institute WealthSurvey shows that when it comes to luxury travel, the top two factors influencing vacation destination decisions are: scenery and nature (58%), and cost (56%). So, it’s back to value-added luxury fundamentals in 2009.

4. High-End Philanthropy Phase Three: Doing Good Becomes a Way to Salvage Reputation for Discredited Wealthy In 2007 we noted that Bill Gates and Warren Buffet’s entry into big-league philanthropy created the “alms race” we had predicted. Many billionaires followed. In 2008 we noted that their participation, and the trend they started, created a new level of scrutiny for ineffective philanthropies to deliver results. While this trend continues, we now also expect many discredited Wall Street executives to turn a new leaf in an effort to save family legacies and reputations and get into the high-end philanthropy game. It’s not much fun for kids to have the wealthiest parents in private school when everyone knows they made their money in a Ponzi scheme that brought the world economy to its knees. Repentant wealthy executives have begun to carve out new family legacies by engaging in serious philanthropy. The search for redemption is part of the human journey and the attempt by these super-talented executives to make a difference in world-class problems will be embraced.

5. Luxury will Embrace Corporate Social Responsibility as a Critical Component of the Business Model, not Just a Slogan For several years, the Luxury Institute’s impartial research has documented the rise in relevance of Corporate Social Responsibility. Luxury Institute surveys document that wealthy consumers have increased their preference for socially responsible brands from 51% in 2006 to 57% last year. Expect that number to rise dramatically by 2009. The global crisis of confidence in governmental, financial and other institutions will drive luxury consumers to demand that luxury brands serve not just them, but society as a whole. They will require luxury brands to be ethical with all constituents, charitable in ways that make a difference to their beneficiaries, and eco-friendly in ways that can be documented. It might mean we will see, among other changes, a reversal in luxury charity events where 80% of proceeds go to lavish fun for the attendees and 20% to the beneficiaries. The good news is that these enlightened practices will elevate luxury to a new level in the eyes of all of its constituents, including young aspirationals, who are even more sensitive about these practices than their elders

6. Classic Luxury Spending and Selective Indulgence Coexist, Guided by Trusted Advisors In the midst of this financial crisis, and the populist backlash on unearned financial services wealth, many wealthy consumers are a bit confused and feeling a tad defensive about luxury, even if they have money to spend. Consequently, many wealthy consumers will opt for classic luxury that is unique and exclusive, with exquisite artistic design, craftsmanship, and quality, delivered with impeccable service. They still covet their favorite Lamborghini sports cars, Judith Leiber handbags, Christian Louboutin shoes, Harry Winston jewelry, and Ritz-Carlton experiences. That’s good, because luxury spending has a strong and positive multiplier economic effect on society. At the same time, they are selectively looking for a few playful indulgences in their favorite categories that they can enjoy in privacy with family and friends.. Personal shoppers, travel agents, realtors, car dealers, interior designers and others who have earned the ironclad trust of clients over the years will have the advantage of curating customer experiences that indulge, but don’t overreach, for their loyal clients.

7. Trust, Authentication, Validation and Certification Become Part of the Luxury Lexicon The financial meltdown has its roots in a crisis of confidence that began in real estate as far back as 2006. Trust in credit ratings institutions such as Moody’s and Standard & Poor’s, and in quasi-governmental institutions such as Fannie Mae and Freddie Mac, and in financial institutions such as AIG, Bear Stearns, Lehman Brothers, Merrill Lynch, Morgan Stanley and even Goldman Sachs, has declined precipitously, as indicated by their financial results and stock prices . Several paid the ultimate price for this lack of trust. Luxury too, is down, partly because some purveyors have forgotten what true luxury means to the customer. As online communities, social networks and ratings hubs dot the Internet landscape, expect luxury consumers to look extensively to their own trusted peers for guidance on what is, and, what is not, true luxury. These now-wiser consumers, who are reeling from loss of net-worth and income, will scrutinize luxury brands far more carefully going forward, and will rely on authenticated, validated and certified ratings to make purchasing decisions. They will expect luxury brands to be transparent, and to independently authenticate claims, such as country of origin, quality, customer referrals, and social responsibility, like never before. Finally, in these troubled times, many experts will herald the death of luxury. If you are a true luxury purveyor, you will not flinch. You will do what true luxury purveyors have done for hundreds of years in up, and down, cycles: execute the fundamentals as inspired and defined by your customers’ needs and desires, consistently and extraordinarily well. Men and women who achieve the best will always seek the best of everything. That is why luxury has brands that span centuries, while most other industries don’t.

By Serge Cowan of Unique Living, International Real Estate

“A renovation property opens up a whole new world”, says Serge Cowan, Managing Director at Unique Living. “Whether you intend to take on the project yourself or buy a property in the Algarve that has already had the work done, you certainly own something unique”.

Take for instance Quinta Cebeca de Vento (Day Dreamers Farm) at Almancil, Central Algarve, Portugal, the current owners have transformed an 150 year old Portuguese farmhouse into a stunningly beautiful, four bedroom villa for sale which is on the market for 1,509,954 Euros. With this property there is absolutely nothing for a new owner to do!

 

Located in a nature reserve the dedication of the owners over the last 10 years has resulted in an exceptional home where they have scoured architectural salvage sites for original fittings to add to their carved kitchen doors and cabinets from a 200 year old palace in Bahrain, and incorporated this with the local vernacular, to produce a truly spectacular property. Energy efficient, eco friendly and with a total rainwater conservation system, this rustic, yet bright and light home with massive stone archways, mezzanine, library, study, open fireplace and traditional terracotta doors and farmhouse style ceilings with natural wooden beams, is set in an acre of orchards and manicured lawns, ponds, terraces and pool.

For those more adventurous, there is a windmill with sea views in Carvoeiro, Western Algarve, Portugal. With sea views, this exclusive project in a prime location, offers great potential for building a unique home. The current project consists of a large villa, preserving the existing windmill. The property is in walking distance of the beach and amenities with a secluded plot and spectacular views. Plot available at 480,000 euros.

“It is important to remember that if you take on a renovation, you need time and patience”, adds Serge. “Falling in love with a derelict property in a prime location is one thing, seeing it through to fruition is another. Consider seriously the need to secure full planning permission before you commence and work out carefully the time and money needed to create your dream. It often helps to seek guidance from a good agent operating in the area who can offer advice based on local knowledge and perhaps suggest suitable builders and architects”.

Another property in Carvoeiro but totally different in concept, is a five bedroom, five bathroom home with pool totally renovated for 750,000 euros.

This is a traditional old style farmhouse fully renovated into a truly immaculate home.

The property is surrounded by country views and is within minutes of the International School of Porches and Horseback Riding School. Golf and local shops are nearby. The beach is five minutes as is the local town. The airport is just 45 minutes drive time.

The property has a swimming pool and garden. The home has beautifully appointed bathrooms and bedrooms and a handsome fireplace to main lounge.

By Jim Walberg of Caribbean Islands Realty

So, why are the Canadians still focused on the Caribbean as their second homes? It is so darn COLD there half of the year!

Eleven months ago it was the British Boomers who were flocking to the Caribbean. Who has taken over those purchases are the Canadians! The Canadian market has been the largest increase in Caribbean real estate purchases this past year - both fractionals and full deeded ownership.

 

The Canadian demand for second home is being fueled by their Boomers’ desire to re-invent their retirement lifestyles - following the sun! It is REALLY COLD from Edmonton to Nova Scotia half of the year! With direct flights to the Caribbean from Toronto and Montreal the entire Caribbean is easily accessible - from Aruba to the Dominican Republic. And, this year 42% of our Canadian Buyers have been paying ALL CASH for their real estate purchases! Here are the results of the Harris/Decima study following the Canadian trends.

14% of the Canadian population own recreational real estate asset.

57% of owners are sole recreational property owners.

43% of owners have invested in shared ownership assets - fractional ownership properties.

36% of those who are sole owners purchased their property prior to 1990.

43% of fractional and timeshare ownership investment with most acquisitions made since the year 2000.

59% increase in second home ownership among Canadians since 1990.

30% of the total population in the Harris/Decima Survey indicated they are interested in purchasing a recreational property asset.

71% are interested in acquiring sole ownership properties.

14% are interested in fractional ownership.

48% prefer to be very close to the beach.

46% want retail facilities nearby.

Contact me today if you want to get in on what the Canadians are discovering in the Caribbean for their second homes. The Caribbean continues to be the real estate HOT SPOT in the Western Hemisphere. Until next time…go Maple Leaf’s!

by Michael Marquette of Marquette Turner Luxury Homes

Russians are investing heavily in overseas property, and even though the Russian stock market continues to suffer (and there will approximately 50% less billionaires in Russia this time next year), there are ongoing reasons for wealthy Russians to search for prestigious properties to buy as a long-term investment.

The experience of Marquette Turner Luxury Homes suggests that regardless of their fortunes, Russians don’t necessarily want masses of land and they are not particularly interested in properties with old-world charm or character. Furthermore, few of them are looking at properties below $US1 million, although there is often no maximum amount.

Specific requirements often include good access to an international airport, security, modern and abundant facilities, inviting year-round weather. Furthermore, entertainment areas with a “wow” factors, as well as original, unique and handcrafted features are also desirable.

Those with families will happily look outside or major cities, but they don’t particularly like older style features, flight path noise or a large amount of land.

They are also shrewd and know a bargain when they see one and are quite straight forward.

Quite simply, only the very best addresses will do, they will not tolerate flaws or poor finishes, and they will only deal with the very best agents based on favorable recommendations.

By Robert Lockard

This is my last blog entry in this luxury real estate blog. After more than a year and a half of blogging, I'm afraid my time has come to an end. I'm about to move on to something new and scary, but I suppose change always involves some degree of fear and discomfort. I will no longer be the editor of the Luxury Real Estate Blog.

Thank you very much, everyone who has taken the time to share their thoughts on this blog. I'm sorry if I wasn't able to respond to all of your comments, but I definitely read them all and tried to incorporate what I learned from them into future posts. I have grown a lot in the past year and a half and I think you can definitely see that by going back through my many blog entries and seeing me try to articulate my feelings and ideas.

I don't know if I'll be able to respond to your comments on this blog entry, so I hope you won't be offended if you write me something and I am unable to respond for some time. Thank you again for sharing a wonderful discussion with me. I would say more, but once again I feel compelled to hold my tongue and simply encourage you to keep holding to hope in these perilous times. Don't put your trust in men, but build your foundation on something sure.

Farewell, my friends.

Sincerely,
Robert Lockard

By Cedric Choi

SEPTEMBER 2008 STATISTICS FOR SINGLE FAMILY RESIDENCES – HONOLULU, HAWAII
Honolulu Board of REALTORS’® Monthly Statistical Report for September 2008 (released October 1, 2008). Each month, the Honolulu Board of REALTORS® issues a statistical report analyzing residential real estate activity on the island of Oahu. In addition to the general island-wide statistics, following is information for select individual neighborhoods:

Waialae/Kahala – See page 8 of Monthly Statistical Report
The statistics for this month are significantly different from last month, it is amazing! Comparing September 2007 to September 2008, the median price for a home in 2008 was down 33.3% (the same comparison for August 2007 and August 2008 showed the median price was up 37.8%). For the year-to-date statistics for January through September of 2007 versus January through September 2008, the median price for the neighborhood was up 7%.

Diamond Head – See page 8 of Monthly Statistical Report
The statistics are not specific (as provided by the Honolulu Board of REALTORS®), since the Diamond Head area (a high-end neighborhood) is mixed into the Kapahulu area (a moderately priced neighborhood). For the Kapahulu-Diamond Head area, the median price decreased by 3.3% compared to the same month in 2007. For the year-to-date (January through September of 2007 compared to 2008), the median price decreased by 3.3%.

Kailua-Waimanalo – See page 8 of Monthly Statistical Report
September 2007 compared to September 2008 had a -14.1% increase in the median price. Comparing January through September 2007 and the same period in 2008 shows a decrease of 4.9% in the median price. 



Other Specific Neighborhoods – There is no substitute for market information from people who are qualified and who know your market. The best way to view a specific neighborhood is to have your agent prepare and review a Comparative Market Analysis with you. For example, the MLS service permits us to do searches within very discrete Oahu neighborhoods, including Kahala/Black Point, Diamond Head, Ala Moana/Kaka’ako, Waikiki/Gold Coast, Hawaii Kai/Portlock, Hawaii Loa Ridge, Kailua/Lanikai and the North Shore.

It has been our experience that the neighborhoods that we concentrate on are less volatile than the market as a whole, which is down about 10%. Part of that involves the worldwide demand for spectacular luxury properties in outstanding locations.

Relative to the overall Oahu market, according to Harvey Shapiro, the Research Economist for the Honolulu Board of REALTORS®, “It appears that the Oahu housing market is reacting to the economic crisis that has been affecting financial markets worldwide.”


Editor’s Note:
Cedric Choi is the Vice President and Administrative Manager of Choi International, a member of the Luxury Real Estate Board of Regents. As a practicing attorney for more than 25 years, Mr. Choi has principally concentrated in areas involving commercial matters. Very interesting blog entry. Every one I post on the Luxury Real Estate Blog seems completely distinct in both tone and voice from every other. You can see similarities and fun little patterns when you read one person’s blog entries over a period of time, but it’s also fun to get a breadth of styles and information from a bunch of different sources, as well. Be sure to visit www.ChoiRealty.com for more resources on buying a luxury home in Hawaii.

By Jim Walberg
From his blog: Some East Bay Real Estate Is On The Slippery Slide Of FEAR!

Once you get on the Slipper Slide of Fear, it is difficult to get off! Please stay off that slippery slide!

So, I picked up USA Today last Saturday on my flight to the Luxury Real Estate Fall Conference in Philadelphia where I was a presenter. The USA Today headline was, “FEAR is a slippery slide!” In some of my past comments I have used the sailor’s mantra, “Do not be fearful!” It still applies today, in spite of an almost 900-point recovery on the Dow Jones the past two days. Don’t forget… once you step on the “slippery slide” of fear, the momentum carries you away very quickly.

The voice of experience, the voice of the local authority, and the voice of credibility can still prevail. And we are the ones that need to be that voice. I just completed a walk from the Philadelphia Ritz Carlton to Constitution Hall, the Liberty Bell, and other reminders of the work our founding fathers did on our behalf 230+ years ago. What an inspiring day! (You may recall this is the organization that is the acknowledged authority of luxury real estate! It was founded by John Brian Losh with a vision of connecting the best luxury brokers and agents in the world – 1,900 members from 65 countries.)

Do you think they were afraid? Of course they were. But, the consequence of letting fear paralyze them from action was not acceptable. Instead of the “slippery slide” of fear taking them away from the liberty and freedom they so dearly wanted for our country, they discovered – step by step – the actions needed to create the most incredible democracy in our world’s history. It was very hard. Thousands of lives were lost as part of that payment for liberty. And, the founding fathers never lost site of end result that was required – FREEDOM!

There is a book I have enjoyed reading several times – “The Tipping Point.” They have a very insightful analysis of Paul Revere’s ride in Boston a few days before the Revolutionary War was officially declared. His ride was so effective that it mobilized the citizens along his route in a manner that called them to action in stopping the British from confiscating their arms stored in Concord. Did you know there was a second rider who was sent in a different direction to alert another section of Massachusetts to immediately prepare to defend Concord. Does anyone remember his name? In fact, I had never heard of him before I read “The Tipping Piont.” He was totally and utterly ineffective in his call to arms.

What was the difference between these two men with similar intentions? Paul Revere was one of the most respected local authorities on what was happening within the colonies which he believed required a liberation movement to break away from British rule – even if it meant war. I would like to be as effective as Paul Revere during these uncertain economic times. We are the local citizens calling our “citizens” to action in order to work through the financial crisis we are in. Will you join me as we serve our clients and communities, and help them off the “Slippery Slide of Fear?” (You get bonus points if you email me with the other freedom rider’s name whose ride was a waste of time.) Contact me with your thoughts. Until next time…


Editor’s Note:
Jim Walberg is the co-Broker/Owner of The Bay Area Team, the most-successful team at Keller Williams Realty-Danville. He is also a member of the global Luxury Real Estate network. Jim is an exceptional blogger, as you can see by visiting his blogs, East Bay Real Estate and Caribbean Islands Realty, and reading his great blog entries like the one above. He is the master of fractionals and other luxury homes in the Bay Area and the Caribbean, and he always has a lot of great opportunities to share. Simply marvelous. This is the last blog entry from Jim that I will have the privilege of editing and posting to the Luxury Real Estate Blog. I am always impressed by his enthusiasm, cheerful disposition and unparalleled kindness. Thank you, Jim, for being such a good person and being a light to a world of shadows and fear. You are amazing.

By Christine Watson
From her blog: Hide Your Personals! Protecting your privacy when selling your home!

Putting your luxury home on the market poses two very personal concerns:

1. Invasion of privacy: that your personal life will be on show;
2. Theft: your personal effects are prey to any “prospective” buyers

De-clutter your property before placing it on the market: this is my first piece of advice for those vendors concerned with their privacy being publicised to the world.

To some it means removing everything from bench tops, cupboards and shelves and to others it means keeping the home clean, neat and tidy. But how do you protect your privacy and hide your personal items?

Your home generally depicts your personal life, showing your taste in furnishings, colours, art, antiques and family photographs. Is opening your home to the public an invasion of your privacy? Absolutely!

 

The experience of Marquette Turner Luxury Homes shows that people buy the home that “ticks most of the boxes”. When selling your home, you should take the distractions away so the buyer can concentrate solely on looking at your home.

Furthermore, we are not great advocates of open inspections in a troubled market and it is important to appreciate that household-contents insurance does not cover the loss of personal effects during a viewing of a property. Remove the opportunity for theft and protect yourself as if you were a celebrity like Nicole Kidman, Tom Cruise or Hugh Jackman.

Selling your home can be stressful enough without the concern that someone is taking an interest in your personal life and possessions.

Marquette Turner Luxury Homes we will not allow anyone to view your home without showing their photo identification. If someone objects they are not respecting your home and are not serious about buying the property. Only a luxury agency can truly protect your privacy.


Editor’s Note:
Christine Watson is a Director of Marquette Turner Luxury Homes, a member of Luxury Real Estate in East Sydney, New South Wales, Australia. Founded on Australia Day 2007 by Michael Marquette and Simon Turner, Marquette Turner is a property consultancy company covering the Australian states of New South Wales and Victoria. Along with Marquette and Turner, now we have a new blogger providing excellent content for the Luxury Real Estate Blog. Wonderful! Thank you very much for the excellent advice, Christine. Don’t forget that both sellers and real-estate agents are at risk at open houses, so it’s best to be as safe as possible. The photo above is from www.flickr.com/photos/jef/1526987585 and it is the copyright of Jef Poskanzer.

By Robert Lockard

In the winter 2009 issue of LuxuryRealEstate.com Magazine (this link will start working in December 2008 when the magazine is published) I wrote an article entitled “Seeing Green: Living eco-friendly without sacrificing luxury.” In that article I mentioned a number of links and resources awaiting readers online. As promised, here they are! Check out the following Web sites for valuable information on what you can do today to start enjoying the benefits of “green” homes. In addition, I included links to the personal blogs/sites of the five Luxury Real Estate members and Eco-Brokers who I interviewed for this article. They were very helpful in the writing process and I’m sure you’ll find them to be extremely helpful in the home buying and selling process:

“Green” Organizations and Resources
www.buildinggreen.com: An independent publishing company focused on “green” building materials and methods.

www.builditgreen.org: A nonprofit dedicated to promoting “green” building in California by providing education, professional directories and more.

www.builtgreen.net: The Built Green™ logo signifies a property meets rigorous “green” standards. Based in Western Washington.

www.earthcrafthouse.com: Founded in 1999, EarthCraft House™ certifies new homes in Georgia, Alabama, South Carolina and Virginia as “green” based upon high standards.

www.greenhomeguide.org: Sponsored by the U.S. Green Building Council, this site offers a variety of resources for “greening” your home.

www.lowimpactliving.com: A tool for setting realistic goals based on your budget, location and other factors.

www.nahb.org: Formed in 1942, the National Association of Home Builders provides in-depth data on housing trends, including “green” homes.

www.southeastgreen.com: A user-friendly directory of businesses offering “green” products and services in the Southeast United States.

www.usgbc.org: Official site of the U.S. Green Building Council, a nonprofit composed of leaders from every sector of the building industry, which provides LEED™ standards for homes, businesses and more.



Blogs/Personal “Green” Sites:
www.cottenalston.com (Cotten Alston’s personal site)

www.roseannblacher.com (Roseann Blacher’s personal site)

http://maringreenrealestate.blogspot.com (Jonathan Marks’ blog, the only “green” blog in Marin County)

www.thebuckheadblog.com (Carson Matthews’ blog)

http://welcomehomegreen.typepad.com (Hannah Tai’s blog)

By Robert Lockard

I have some very fun news to share. A new TNT movie starring Oscar® winner Cuba Gooding Jr. is currently filming in the Detroit area, and part of the filming is being done at a waterfront luxury home on Windmill Point Drive in Grosse Pointe Park. This property is being represented by Higbie Maxon Agney, Inc. Realtors, a member of Who’s Who in Luxury Real Estate and the Board of Regents.

Check out this wonderful story in the Grosse Pointe News that I received earlier this week. Sorry I don’t have a link to the story online. Apparently, that newspaper doesn’t post some of their stories on their Web site, but luckily I have a PDF version of the printed article.

The movie is called “Gifted Hands: The Story of Ben Carson” and it follows the life of Ben Carson, born into poor conditions, who was able to lift himself up and become a famed pediatric neurosurgeon. It’s scheduled to debut on TNT on Feb. 7, 2009. I love inspirational stories about good people triumphing over difficult circumstances. Actually, this discussion reminds of a blog entry that Jim Walberg, the co-Owner/Broker of The Bay Area Team, just wrote about not giving in to fear despite our difficult financial market.

The luxury property on Windmill Pointe Drive is quite remarkable. It includes near two acres of land, its own private dock and 12,000 square feet of living space for $7.3 million. If you’d like more information, you can contact Heather Adragna Ulku or check out this brochure on the property.


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. Feel free to share your good news like this with us, as well. I love reading and writing good stories for the Luxury Real Estate Blog. The photo of Cuba Gooding Jr. is from www.flickr.com/photos/rafamado/2635448556 and it is the copyright of Rafael Amado Deras.