Luxury Real Estate

Courtesy of John Brian Losh of Luxury Real Estate

Thanks, in part, to the generosity of some of our Who’s Who in Luxury Real Estate members, Lance Corporal Juan Dominguez, United States Marine Corps, a triple amputee as a result of a land mine explosion in Afghanistan, will be able to purchase a customized automobile to enable him to drive when he returns home to New Mexico from Rehab in Washington DC. Thank you so much for making a difference in this brave man’s life.

A letter sent to our members from Chairman/Publisher John Brian Losh:

Fellow Colleagues,

I was recently in Munich, where I had the honor to meet two US Navy corpsmen working at the hospital in Landstuhl, Germany. This is the facility where severely wounded soldiers of the multi-national forces are sent for treatment from the war zones in Afghanistan and Iraq.

Corpsmen Ruth, a nurse, shared a story of one young Marine named Juan Dominguez from New Mexico. Lance Corporal Dominguez stepped on a land mine in Afghanistan and lost both his legs as well as his right arm. Ruth was with the Lance Corporal when he awoke from his coma, and relates that his first words to her were, “Don’t be sad for me ma’am, I would do it again for my country…”

While the Lance Corporal continues to recover at Walter Reed hospital from severe infections, his home town of Deming, New Mexico is trying to raise $50,000 to purchase a handicap- modified vehicle for his transportation and have raised only $7,000 to date.

To thank Lance Corporal Dominguez for his valiant service to our country, Luxury Real Estate is raising money for this fund. Our goal is to raise $43,000 by the end of March 2011.

Thank you so much for your generosity to this very brave and selfless individual.

Courtesy of Frederick Peters, President of Warburg Realty

Pricing is never easy. To price correctly brokers (and sellers) need to have both a sense of where the market is today and where it might be in a few weeks. We need to take into account the uniqueness of the product, the likely demand relative to other properties and segments of the market, and the depth of competing supply. We need to realistically assess the condition of the property and what its strengths and weaknesses are. And then we need to settle on a number which is ambitious but not prohibitive, which will induce people to stretch but not to walk away. Never an easy task for either seller or broker!

According to what I see, buyers still control the marketplace for smaller, more generic inventory. Since there are still many studio, one bedroom, and small two bedroom apartments available in postwar buildings all over town, buyers can and do leverage one against another in order to get the best deal. After all, if you don’t care much whether you buy Unit A, Unit B, or Unit C, you will make your decision based on where you can make the most attractive deal. Sellers have to price with this in mind: for their units to sell, they have to not only look attractive but also give the biggest bang for the buck.

However, in the hottest neighborhoods, like the Upper West Side and the West Village, Brooklyn Heights and Park Slope, in the prewar apartment marketplace, and in the market for 6 to 10 room units, control has shifted back to the seller. Where demand outstrips supply almost every property receives numerous bids, because there is so much pent up demand. Pricing in this environment is particularly tricky. As brokers, we do not want to make the Freakonomics mistake and price the property low to make sure it sells quickly. On the other hand we do not want to encourage unrealistic expectations in the seller, since even in the hot market prevailing in many parts of town, a really overpriced property will sit and lose its luster. My brokers report to me that they see huge traffic the first week a listing is available, moderate traffic the second week, but by week three or week four the traffic has slowed to a trickle. So any seller will most likely receive his highest price during the first couple of weeks, when buyers who have been waiting for a place like this to appear compete against each other. Once the first rush is over, the property which didn’t sell will most likely sit for a while.

So as a seller where does this leave you? First, team up with a smart experienced broker. Second, assess your property to determine if it is in a buyer’s market or a seller’s market. If the former, price is likely to be your only weapon, so use it. Today, the only way to move a commodity-type apartment quickly is to undersell relative to the competition. If the latter, you need a price which shoots high but doesn’t put you in competition with bigger, better units. Second, do your homework to honestly figure out the comparables for your property, and don’t wear your rose colored glasses about size or condition. Third, assess any special advantages or drawbacks your home has and adjust the price appropriately (good brokers can ballpark the value of BOTH the advantages and the drawbacks.) And finally, remember that everyone sometimes makes mistakes. If experience proves your pricing strategy wrong, change it! The goal is to be accurate, not to be right.

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

Courtesy of: Greg Moesser of Rodeo Realty

Following an International Agent Around the World

By Katharine Angelo of Bel Air Magazine

This international agent is not a gun-toting 007; instead he’s a real-estate agent that specializes in worldwide luxury properties. The name is not Bond, James Bond, but Moesser, Greg Moesser, Vice President of the Private Estates division of Rodeo Realty in Beverly Hills, and he’s a man that’s doing something different. Today almost every real-estate company advertises international marketing, but many companies define that as just having a few affiliated international property websites. Agent Greg Moesser’s business model is much more hands-on, bringing on-the-spot knowledge to the worldwide properties he represents. In a recent conversation, Greg revealed his undercover secrets to taking his luxury real-estate business to a global level.

BAM: How long have you specialized in international marketing?

GREG MOESSER: It began about seven years ago when I had two inquiries from my website, one was from a European buyer and the other was a vacation rental request from the Middle East. After specializing in the luxury market domestically, I found that many clients, instead of just moving locally, are often moving between global cosmopolitan cities. The number of foreign buyers in our market has also risen steadily in the last few years. This is even more true today with the weaker dollar and the recently devalued world property markets, such as Spain, Ireland and Dubai, just to name a few. Now I have inquires every month from all over the world on my website www.LAClassicEstates.com.

BAM: Why do you think you have been so successful in this exclusive niche?

GM: The difference is personal networking and connections. Agents and buyers want to work with someone they know and trust. You can’t achieve that by just marketing a property on a bunch of global websites. When an agent from New York, San Francisco, London, Dubai or Paris has a client for Los Angeles, they will call me first, because I have an established personal relationship. My approach takes a lot more effort and planning, but it gets results. It’s also a great advantage to my seller clients, as they get the benefit of both an extensive local and international market representation.

BAM: Where have you been already this year?

GM: In January I attended the International Luxury Real Estate summit conference in Rome, Italy. This is a worldwide group of top agents, owners and presidents of leading firms that meet annually to discuss global property trends and strategies to market luxury properties. In March I attended the MIPIM conference in Cannes, France. The agenda included meetings with top agents, buyers and investors, foreign ministers and even the American ambassador. I was also in Punta Del Estate, Uruguay performing some property research for a client.

BAM:What is the Private Estates division?

GM: The Private Estates division at Rodeo Realty specializes in representing multi million-dollar properties in Southern California’s premier luxury markets. Our specialists are able to provide the highest level of expertise, professionalism, personal attention and discretion that is simply not available at large companies or franchises. Our international database is second to none, including our Luxury Real Estate affiliation with luxury agent specialists in over 60 countries worldwide.

BAM: What’s currently your most interesting property?

GM: I just did a price a evaluation on an extraordinary pre-war, French-style estate in Hancock Park that was featured in one of the first issues of Architectural Digest and should be coming on the market soon. I’m also excited about my latest international project. I’ve been selected as the exclusive U.S. agent for the Residenza Del Lago Azure in Lake Como, Italy. This is a rare new luxury development of 28 villas and apartments and should be completed by early next year.

Please click here to view the original article

Courtesy of: LuxuryRealEstate.com

LuxuryRealEstate.com is pleased to introduce our newest member, Lisa James Otto Country Properties.

Specializing in antique historic houses, charming country houses, farms and estates, and riverfront cottages, Lisa James Otto Country Properties is the expert of local real estate in New Hope, Pennsylvania and Stockton, New Jersey and surrounding areas.

For over 22 years, Lisa James Otto has dedicated her services to matching buyers and sellers in an atmosphere of elegance, grace and style. Her professionalism and client sensitivity make her one of the top real estate agents of the New Jersey and Pennsylvania areas.

In 1986, Ms. Otto joined the New York Council of FIABCI, the International Real Estate Federation based in Paris, of which she has been president for the last three years.

To learn more about Lisa James Otto and Lisa James Otto Country Properties, visit http://www.lisajamesotto.com/.

About Who’s Who in Luxury Real Estate:

Who’s Who in Luxury Real Estate is an invitation only network representing the best luxury real estate firms and professionals from around the world. Each affiliated member is carefully selected to represent his/her market area. Who’s Who in Luxury Real Estate also hosts the industry leading Website www.LuxuryRealEstate.com (a 2009 Webby Award Honoree).

Courtesy of: Turpin Real Estate Inc.

Turpin Real Estate Inc. this month opened a new office at 186 Main St. in Chatham.

"It's exciting to announce that we are opening a new office at a time when other real estate agencies are closing and consolidating across the state," said John D. Turpin, president of the family owned business, who also will serve as the Chatham branch manager.

Turpin, which also has offices in Oldwick, Mendham, Bernardsville and Far Hills, will be celebrating its 50th anniversary this June. Turpin is affiliated with Christie's Great Estates and the world's-largest relocation network, Leading Real Estate Companies of the World. To learn more, visit www.Turpinrealestate.com.

Turpin Real Estate Inc. is a member of Who's Who in Luxury Real Estate.

By: Weichert Realtors Points East Properties

The city of Portsmouth, New Hampshire is at its best as it hosts a notable celebration of Independence Day with great events spanning the week leading up to the 4^th of July. This annual historical celebration has a parade, fireworks, living history reenactments, music, and great food.

Portsmouth or Strawbery Banke as it is historical known is well known for its great shopping, fine dining, historical landmarks, and seaport. The intimate community offers a full array of luxury real estate options allowing savvy investors, second home owners, retirees, and even primary home owners a chance to take in this beautiful town and experience the great amenities first hand.

Happy 4^th of July! Don’t hesitate to come visit us in Portsmouth this summer.

By Carina de Sousa of IRG International Realty Group

João Manso will be responsible for the overall day-to-day management of IRG International Realty Group and will be overseeing the performance on all levels. He will also be involved in business development.

João Manso has had a long career in Portuguese and international businesses and has been involved in big scale commercial and touristic residential developments. He is a member of Ordem dos Engenheiros and has been managing director of companies related to the resort/touristic industry.

Ole Jespersen, owner and managing director of IRG International Realty Group says: "It is a huge boost for our company that we are able to attract a capacity like João Manso to our company. He will bring a lot of experience with him not just professionally but, João having been involved in Portuguese business on top level, will also add to our already multi national business culture. His previous work in touristic residential developments fits well into one of IRG's core businesses and will strengthen our already leading role in this segment."

About IRG International Realty Group

IRG International Realty Group is the leading international brokerage company in Portugal and specializes in sales and marketing of Portuguese high-end and luxury residential real estate. IRG is the exclusive affiliate in Portugal of Christie’s Great Estates, a worldwide real estate network and subsidiary of the world’s oldest auction house, Christie’s. IRG’s head office is located in the prestigious Avenida da Liberdade in the heart of Lisbon and there are also boutique offices in Quinta do Lago, Algarve, Estoril and Kensington, London.

www.irgportugal.com

By Michael Marquette of Marquette Turner Luxury Homes

Luxury Grand Mansion Estate

This exceptional luxury home in Stockton near Newcastle was built in 1897 and was originally known as “Quigley House“. Proudly presented by Marquette Turner Luxury Homes, the home is built on a fabulous estate covering 2333 square metres.

The interior of the main building has been stunningly restored and renovated, retaining much of its original Victorian elegance. North Coast cedar is one of the many features of this magnificent residence as is the arched beveled glass. The home offers seven marble fireplaces, each with unique tile work.

The significant work completed on the house has resulted in a home with every modern convenience. The gardens have been completely remodeled and additions include a wonderful courtyard, over-sized three car garage with abundant workshop space and a separate guest quarters.

For more information on this stunning property, please click on the images above or here

Media: Read what the New York Times had to say HERE

Price: $1.8 million AUD

From The National Trust for Historic Preservation

Courtesy of Paula Berthelot of Prudential Santa Fe Real Estate

Perched high in the foothills of the southern Rocky Mountains, Santa Fe, New Mexico is unparalleled in its richness of history, arts and culture. Signature adobe architecture and old world charm combine with culinary sophistication and a creative flair to make the city one of the country's most fascinating destinations.

History & Activities

One of the best-preserved cities in the United States, Santa Fe is an ancient city with a distinctive architecture borne out of its remote location and use of local materials. Dozens of historic sites transport visitors back in time, from ancient Native American ruins and Spanish Colonial churches to mining towns and remnants of the nation's Wild West frontier days. Historic walking tours showcase the spirit of Santa Fe, both old and new, most notably the Palace of the Governors, the oldest public building in the country. The revitalized Santa Fe Railyard now serves as a lively downtown commercial and residential hub, containing shops, galleries, restaurants, farmer's market as well as an outdoor park and performance space.

Art & Culture

Santa Fe has long been a center for arts and culture. It now ranks as the country's third largest art market with over 250 galleries and dealers. Perhaps most famous as the home of artist Georgia O'Keefe, Santa Fe boasts more than a dozen major museums showcasing an array of art, culture, history and traditions. Art galleries and boutiques line Canyon Road while Native American vendors representing 19 Pueblos and three tribes can be found everyday under the portal at the Palace of Governors, selling jewelry and handmade goods. The annual Indian, Spanish and Folk Art markets provide opportunities not found anywhere else in the county.

Outdoor Adventures

Surrounded by more than 1.5 million acres of national forest and the 12,500-foot Sangre de Cristo Mountains, Santa Fe offers year-round outdoor adventure. The breathtaking scenery is an ideal backdrop for hiking, biking, skiing or rafting. With an average of 300 days of sunshine and blue sky, the time is always right to stroll through lush landscapes, explore nature trails at the National Audubon Society center or attend a wine festival in the country’s earliest wine-producing region.

Submitted by Paula in Santa Fe at: March 12, 2009 I moved to Santa Fe about 11 years ago after many visits. Although I will always be a Texan in my heart, I have adopted this wonderful place and have enjoyed every moment I have lived here. If you plan to visit anytime in the near future, you can contact me at Prudential Santa Fe Real Estate, 505/988-3700, and I will give you the latest and greatest restaurants etc,

By Carina de Sousa of IRG International Realty Group

Portugal (March 2009) - As part of their continuous efforts to promote the absolute best in Portugal’s real estate, IRG International Realty Group is now introducing a new section on their website which focuses only on some of this country’s finest Estates and Manor Houses currently on the market.

Those that list their unique properties with this group have without a doubt a head start on the competition, since as a member of several exclusive, high profile networks IRG is able to provide the best international exposure. Among these International Networks is Christie’s Great Estates, the international real estate division of Christie’s, the oldest and leading auction house in the world, for which IRG is the exclusive affiliate in Portugal, EREN, The European Real Estate Network and Luxury Portfolio, an international network providing a unique platform for luxury real estate, just to name a few.

For inclusion in the Estates and Manor Houses program do not hesitate to contact Mrs. Sandra Évora on 21 0305022 or sandra@irgportugal.com or view IRG’s listings of Estates and Manor Houses on: www.irgportugal.com/properties/estatesandmanorhouses.

About IRG International Realty Group

IRG International Realty Group is one of the leading international brokerage companies in Portugal and specializes in sales of Portuguese high-end and luxury residential real estate. IRG is the exclusive affiliate in Portugal of Christie’s Great Estates, a worldwide real estate network and subsidiary of the world’s oldest auction house, Christie’s. IRG’s head office is located in the prestigious Avenida da Liberdade in the heart of Lisbon and there are also boutique offices in Quinta do Lago in the Algarve, Estoril and in Kensington, London, United Kingdom.

www.irgportugal.com

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