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Posts from the ‘Luxury Real Estate’ Category

WSJ: Arizona Mansion Aims for Record $35 Million Price

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A home in Paradise Valley, Ariz. is going on the market for $35 million. Courtesy of JOE COTITTA/WALT DANLEY REALTY

An elaborately outfitted Arizona mansion listing for $35 million could set a new record for the state if it fetches its asking price.

The 12-acre gated estate has a hair salon, a movie theater and an indoor basketball court, according to Walt Danley and Catherine Jacobson of Walt Danley Realty, who are listing the property with global marketing support by Christie’s International Real Estate. The property is located in Paradise Valley, an affluent community between Scottsdale and Phoenix.

If it sells for its asking price, it would set a record for the priciest home sale ever in Arizona, according to Jim Patterson of the Information Market, a Tempe-based real estate data and analytics company.

Surrounded by palm trees, the estate has views of Camelback Mountain. The five-bedroom main house measures more than 30,000 square feet, with a domed ceiling and twin stairways at the entrance. The master suite has the hair salon, a sitting room, an office, a kitchenette and multiple terraces as well as his-and-hers closets. The basketball court has an electronic scoreboard and a skybox. The movie theater is decorated with James Bond posters and boasts its own lobby.

The grounds include a swimming pool, his-and-hers pool houses and a three-bedroom guesthouse with its own infinity pool.

The seller is Robert Sussman, founder of New York City-based hedge-fund company Bentley Capital Management. Mr. Sussman, 68, said he spent about five years building the house, completing it in 2005. He said he is selling because he and his wife are planning to spend more time with family in California.

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JUST LISTED! SPECTACULAR SKI-IN/SKI-OUT STYLE WITH STUNNING VIEWS AND SOUTHERN SUNSHINE!

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Newly & beautifully remodeled in 2015, this cool and stylish mountain home is perfectly nestled at the edge of 30 acres of rolling meadows that make up Hood Park. Peerlessly constructed by renowned timber-framer Bensonwood of New Hampshire, the home’s inviting spaces frame stunning views of the iconic Wilson Peak, San Sophia Ridge and Telluride Ski Area. Clean and modern finish blend beautifully with the vaulted ceilings and generous suites throughout the home. Ski-in and ski-out from a groomed private trail just off the south-facing deck, or snowshoe and skate ski on the acres of Open Space that surround you. Warm neutral colors, sophisticated finishes and fixtures and designer furnishings await the next generation of owners. For more information and images click here

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New & Notable Luxury Properties For Sale

Beginning with a European-Style stone mansion in New York to a soaring townhouse in Hong Kong, this month’s collection of exceptional properties for sale features homes in some of the world’s most sought after destinations.

New York

$75,000,000 USD | Pound Ridge, New York | Renwick Sotheby’s International Realty

New York – This stately European-style stone manor rests on more than 262 sylvan acres stretching across the New York and Connecticut border with stunning views over formal gardens and a picturesque lake. Originally built in the 1920′s, the 20,000 plus square-foot residence is an exquisite showplace for grand-scale entertaining adorned with imported antique marble, limestone, onyx, mosaic tile and stained glass. Fireplaces serve as focal points in the elegantly paneled formal living and dining rooms, cloak room, library, conservatory and breakfast room. An indoor pool with Italian mosaics complements the grounds.

Poland

$52,000,000 USD | Wielkopolska, Poland | Poland Sotheby’s International Realty

Poland – Boasting over 279 hectares, this extraordinary estate is located in the heart of a national park overlooking Warta River. It is situated 25 kilometers from Poznan, which is connected via highway with Berlin and Warsaw, approximately 300 kilometers from each of these cities. The main building has an oversized area of 3.246 square meters with four floors. There are nine beautifully furnished suites with private bathrooms located on the first and second floors. The ground floor features a huge ballroom with a hand painted ceiling and crystal chandeliers, a library and cigar lounge, a dining room with mahogany panelling, owners’ kitchen equipped with Clive Christian furniture, a study and the main lobby with white marble floor and an indoor swimming pool.

France

Price Upon Request | Provence-Alpes-Cote D’Azur, France | Cote d’Azur Sotheby’s International Realty

France – This magnificent ‘Belle Epoque’ mansion built in 1901 has been completely renovated throughout with only the finest materials. Over four floors, this majestic building towers the skyline and enjoys panoramic sea views. Sitting in a landscaped garden of 1200square-meters with large family sized swimming pool and terraces, this property offers six-bedrooms, all en suite and with dressing rooms, two living rooms, an office and a beautiful oval dining room. The home also features a wine cellar, a home cinema room and a hamman – sauna.

Utah

$19,500,000 USD | Orem, Utah | Summit Sotheby’s International Realty

Utah – It began as one family’s dream to create a place where memories could be made to last a lifetime. It became a one-of-a-kind residence and recreational facility on twenty acres that includes not just a 20,000 square foot luxury home called “The Barn,” but an engineered pond with trophy-sized fish, a boat house and pool, a garage and hotel-style guest house, a motocross course with a state-of-the-art motorcycle maintenance shop, a large outdoor gathering area in the pines surrounding a huge fire pit, a storybook tree house, a “little red schoolhouse” and much more. Large mature trees, including the largest private grove of Sequoia trees in the state of Utah give the property incredible privacy and seclusion.

Hong Kong

$180,000,000 HKD | Hong Kong | Hong Kong Sotheby’s International Realty

Hong Kong – One of the five exclusive townhouses in a secured compound, this detached home enjoys the serenity of the Peak and the Southside marina view. The spacious living and dining room, fourth bedroom and study are featured on the lower level. Floor-to-ceiling windows across the living and dining room bring the terrace and pool inside and provide a bright, light-filled environment for family entertaining. Travel via the elegant staircase to the three ensuite bedrooms upstairs. The master bathroom features a Jacuzzi, separate standing shower and double basins in marble top. Marble floorings accent the living and dining rooms while wood floors give warmth to the bedrooms. Enjoy alfresco dining, barbeque or sun bathing on the large rooftop terrace.

View Newly Listed Luxury Properties for Sale >

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Majestic Alpine Dining Rooms For Thanksgiving

125 Hanglider, Mountain Village, Colorado. Shot for Bill Fandel real estate.

125 Hang Glider Drive – Set within a grove of towering Aspen trees overlooking the groomed Double Cabin ski run, this extraordinary home & separate guest house offer the exceptional design of architect Tommy Hein, combined with the outstanding attention to detail of accomplished builder Overly Construction. The home offers multiple Master & Guest Suites across three levels of living & recreating areas. A fully-detailed gourmet kitchen opens to grand spaces framed by century-old logs with the refined finishes of plaster, stone, marble & granite found in the finest residents in ski country. Dramatic views of the surrounding peaks, mature trees & bordering ski run are available throughout the home, while separate recreation room, media room, bunk area and ski rooms accommodate dozens of family members or guests.

146 Hood Park, Mountain Village, Telluride, CO.

“Villa Montagna” – Inspired by the finest villas of the Dolomites and Tuscany, this dramatic stone residence is the most authentic example of traditional Italian alpine design in the Telluride Region. Set high upon a knoll-top at the end of a private road with direct trail-side ski access, this gracious family home offers sweeping views of mountain peaks, spruce and Aspen forests and the contiguous groomed ski trails of the Telluride Ski Resort. Borne of decades of travel and collecting throughout the European countryside, the property’s custom-quarried stone, tumbled brick, antique marble, centuries-old fixtures,timbers flooring, were all imported from Italy to the exacting standards of one of the country’s top architects and one the region’s top builders.

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710 Mountain Village Boulevard – A home like no other! One Architects and the owners have created a masterpiece of modern mountain design. This home is exceptional in its location, quality, views and access.

Unit 9, Villas at Cortina, Mountain Village, Telluride, CO.

Villas At Cortina – The Villas at Cortina are beautifully crafted, intimate enclave of signature residences within Telluride’s exclusive Mountain Village. Located directly trailside along the groomed slopes of the Sundance ski run, the property offers breathtaking views of the dramatic San Sophia Ridgeline and Telluride Ski area. Each residence offers a unique floorplan, featuring exquisite finishes, fixtures, fireplaces and flooring which will satisfy the most discriminating tastes, while common amenities include a heated pool, hot tub, club room, private ski lockers and heated underground parking. The project’s developers, Eastern Partners of Dallas, Texas, have a deep commitment to the region and the project’s continued success.

Brown's Ranch property, Colorado. Ranch property, Colorado.

Eagle’s Landing Ranch – Spectacular setting on 141 rolling acres set against the backdrop of the towering Sneffel’s Range. Perfect horse property with 3,500-sq. ft. timber-frame barn, with corrals, hay storage, equipment shed. Wonderful home with big mountain views and generous interior living areas, kitchen and suites that have been impeccably maintained since its construction. Beautiful rolling meadows for riding and grazing with season ponds and wallows. Abundant and diverse wildlife including herds of elk, deer, bear, coyote, bobcat, fox, bald & golden eagles, hawks, peregrine, etc.Located just 30 minutes on well-maintained roads from the heart of Telluride, 20 minutes and 45-minutes to the Montrose Regional Airport.

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The Rise of the Multi-Homer

An increasing number of ultra high net worth (UHNW) individuals are buying non-traditional homes outside their domiciles according to a new study by Wealth-X and the Sotheby’s International Realty® brand, released today.

Wealth-X has identified more than 211,000 ultra high net worth individuals globally – defined as those with US$30 million and above in net assets – and 79% of them own two or more residences.

The Wealth-X and Sotheby’s International Realty UHNW Luxury Real Estate: Multi-Homers Report reveals that these UHNW buyers look for residences that are environmentally sustainable, technologically sophisticated, or that fit better with their personal and family needs.

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Below are other key findings from the report:

  • The average UHNW Multi-homer is 63 years old, has a net worth of US$165 million and is married.
  • The United States is the most popular location for second homes among the ultra wealthy, followed by the United Kingdom and Switzerland.
  • Four types of luxury home types have emerged as favorites among the global ultra wealthy: Green Homes, Smart Homes, Private Islands, and Serviced Apartments. These types of luxury residences serve their needs, aspirations, and lifestyle considerations.
  • The Caribbean and the Mediterranean remain favorites among UHNW buyers for private island homes, but Southeast Asia, Canada, Belize and the United Kingdom are gaining popularity.
  • UHNW Multi-home buyers are fueling market growth in regions beyond global urban hubs such as London, New York City and Hong Kong. The report profiles Miami, Florida; Geneva, Switzerland; and Long Island, New York.

Wealth-X President David Friedman commented: “Wealth-X is pleased to partner with the Sotheby’s International Realty brand for this fourth joint report in 2015. This report underscores Wealth-X’s commitment to conducting ground-breaking research on the world’s ultra high net worth (UHNW) population. Expert commentary from Sotheby’s International Realty complements Wealth-X’s global intelligence on the world’s UHNW population, producing a report that demonstrates a true collaboration between the world’s leading UHNW intelligence provider and the global leader in luxury residential real estate.”

“Our partnership with Wealth-X has proven to be invaluable as we continue to explore the motivations of the world’s ultra high net worth,” said Philip White, president and chief executive officer of Sotheby’s International Realty Affiliates, LLC.  “The research from our latest report uncovers current trends in home purchasing behavior and chief lifestyle considerations, helping us gain insight into investment strategies of the UHNW population.”

 Download the latest report here.

To visit Telluride Luxury Properties click here

5 Reasons Why Real Estate Investment Has Never Been Hotter

Courcheval unit E, Mountain Village, Telluride, Colorado.

Courcheval, Unit E, Telluride, Colorado – Listed by Bill Fandel, Telluride Sotheby’s International Realty

Takeaways:

  • Investors have turned more than 3 million former foreclosures into rentals, which made single-family rentals the fastest-growing rental category.
  • According to NAR, 86 percent of today’s investment buyers report that now is a good time to purchase real estate.
  • Plus the five reasons now is the time for investors.

Whom would you rather represent: the average American homeowner who moves once every eight years or the average American homeowner/investor who moves every eight years, buys an investment property every two years and sells one every five years?

With the decline in foreclosures and the corresponding decline in investor purchases, many people have the impression that residential real estate investing is dying out or returning to pre-boom levels. Nothing could be further from the truth.

Real estate investing is a big business. In the six years that have passed since the foreclosure floods first hit, investors have turned more than 3 million of them into rentals, which made single-family rentals the fastest-growing rental category.

Those who have been bitten by the investment bug are eager for more. According to NAR, the bulk of today’s investment buyers (86 percent) report that now is a good time to purchase real estate.

Newcomers are signing up every day, drawn by single-family rentals’ dual revenue stream that can produce returns exceeding 8 percent. Like all real estate, rentals generate capital gains from appreciation.

Investors who bought foreclosures are doing OK; they fixed them up, rented them out and created capital gains that are hard to beat today, but investors who buy wisely in today’s hot markets are doing just fine.

The second revenue stream is cash flow from rental income, which sets single-family rentals apart from the vast majority of securities investments that most Americans are familiar with.

Rents are soaring and vacancy rates declining, which makes it easy for landlords to keep their properties rented, and their rental income is outpacing inflation. Even in moderate markets, millennials find single-family rentals to be the perfect steppingstone to home ownership, and they are creating extraordinary demand for rentals.

For agents and brokers who understand single-family rentals, these changes and others are creating new opportunities that didn’t exist at the peak of the foreclosure floods.

It’s a different way of looking at real estate, where capacity rates and operating costs are just as important as resale value. Here are five reasons why this is a great time to do business with investors:

1. Millions of small-time investors are looking for good agents

Four years ago, foreclosure auctions and preforeclosure sales — transactions that don’t create a commission — accounted for the lion’s share of deals in the hottest markets.

Those days are over. According to the National Association of Realtors’ Realtors Confidence Index in June 2014, distressed sales were only 8 percent of total sales that month.

Investors are hunting harder for properties, which make them a great market for buyer’s agents who know what constitutes a good investment property and for sell-side agents who know that investors aren’t so limited by geography.

Buyers might live 50 miles away — or across the nation.

2. Commissions are higher today 

With investors buying more REOs and properties listed in MLS, the days of the 30 percent foreclosure discount are gone, and many investors pay close to full price.

The properties they buy cost less to put into rent-ready condition, which saves investors 10 to 20 percent of their purchase price, but higher purchase prices mean larger commissions.

3. Fewer deals fail

Your sellers will love dealing with investors because they pay all cash (though usually not their own cash — most investors have their own investors). Buyers who don’t need financing also don’t risk losing a deal to a low appraisal or a last-minute problem with financing.

4. You can stand out in the crowd 

Investors don’t hire agents because they’re referred by a relative. Relationships are all business, and they are looking for competence, brains and expertise.

Whether you are buying for investors or selling to them, learn your local market from the perspective of an investor. Network with local real estate investment clubs and social media.

5. There’s been a change in perception

Perhaps the most important reason it’s a great time to be working with investors is change in the way many people think about it today — people who just a few years ago would never have considered real estate investing.

“Many of my customers ask me how they can attempt to buy their next home, while holding on to the one they already have — a complete turnaround from the mentality of the seller of yesterday,” said Will Stein, broker and owner of Belair Realty in Bowie, Maryland.

“Many mom-and-pop homeowners might not be savvy investors, but they call me all the time saying they just want one rental property to help with long-term cash flow. It’s becoming the new 401(k) — and it’s smart.”

It’s a completely different world out there. Investors have become anyone who can afford to buy a second home and put it on the rental market. And with soaring rents and a decline in vacancies, now is an excellent time to assist your clients in becoming investors.

Steve Cook is editor and co-publisher of Real Estate Economy Watch and provides communications consulting services to leading real estate organizations. 

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Mansion Global: Featured Listing of the Day – “Paradiso”

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To visit Mansion Global and read more, click here

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US NEWS & WORLD REPORT: WHY REAL ESTATE COULD BE A BETTER INVESTMENT THAN STOCKS

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By  Aug. 20, 2015 | 9:45 a.m. EDT

Once you’re on track with your financial goals – such as retirement contributions or repaying student loan debt – you may find yourself exploring real estate investments in lieu of the stock market. Buying real estate as an investment can be lucrative, but it’s also cash-intensive and carries risks.

As you weigh your options, consider the following points in your analysis.

Risk versus expected returns. Whether putting cash into the market or purchasing real estate, you need to assess the risk versus the expected returns. Traditional equity investments are much easier to analyze in this way. You have historical data, and although past performance is not indicative of future results, you have a bit more control over how much risk you’re exposed to when deciding what amount to invest, the asset allocation and so on. Investing in single stocks versus an index fund is a calculated risk some are willing to take in search of higher expected returns.

The risks when buying real estate can be much harder to quantify. While there is data available, such as comparable home prices in the area and average rents, unpredictable changes in the market can be costly. When investing in the equity market, your risk of loss is limited to your initial investment. This isn’t the case with real estate – you could wind up owing the bank more than the value of your property if the market experiences a downturn, or even due to changes that negatively impact a neighborhood.

For landlords, vacancy and repairs can eat into profits. Once you calculate your expected mortgage, operating costs, taxes and maintenance, how much can you expect to earn in net rental income? The answer for every investor will be different, but for some, the anticipated return will not be worth the risk and effort involved in owning real estate.

Required capital. Virtually anyone can invest in traditional equity assets. Some shares can be very inexpensive and you can often determine the volume as well. The same cannot be said for real estate. To purchase a property, you need to either come up with a down payment yourself, or enlist partners to invest with you. Typically, you need to put down 20 percent for a traditional mortgage, and although various programs can help you to put down a smaller percentage, there are fewer options for investment properties.

The initial cash outlay is what deters many would-be real estate investors, as you could easily spend upwards of $100,000 on a down payment and initial repairs. Furthermore, real estate requires additional capital to maintain the property, often not at the owner’s behest. With stocks, you can make a one-time investment or purchase additional shares later, at your discretion.

Taxes. Another aspect to consider when deciding to invest in real estate or the stock market is taxes. If you own property, you will be required to pay property taxes every quarter, based on the assessed value as determined by the city or country. This is included in your mortgage payment. Whether you want to flip the property or hold onto it as a landlord, you will also have to pay tax on the sale or rental proceeds.

There are certain tax benefits unique to owning real estate as a landlord, however. The interest expense on your mortgage is tax deductible, along with operating expenses, property taxes, insurance and depreciation. Exactly how much you can deduct will likely depend on the rental income. In most situations, under the passive activity loss rules, you cannot write off deductions that are more than the rental income, which would generate a loss. Working with a CPA can be very helpful, particularly when investment properties or multiple residences are involved.

Stocks have tax consequences as well; first, you are required to pay a capital gains tax on any profits you made from selling stock. Furthermore, even without a sale, you are also required to pay a tax on any dividends you receive.

Inflation. Real estate can be a potential hedge against inflation as historically, rental rates and home prices rise with inflation. This provides a potential inflation hedge for both your rental income and sale of the property. Since your mortgage payments will not increase with inflation, it offers a benefit over time.

Traditional equity investments are not as directly linked to inflationary measures. Although prices do tend to rise over time, the market cannot offer the same potential inflation protection as real estate.

Time. Another factor to consider when choosing to invest in real estate or the stock market is to factor in your time as a cost during the analysis. While you do need to do some research when deciding which funds to buy, you can purchase traditional equity investments in a matter of moments. There is a lot more time required in buying and maintaining a property, as well as managing any improvements.As a landlord, you will be on call for the tenants as problems arise. Hiring a property manager is an option, but depending on the size of your property, could eliminate your profit margin.

With the right property, neighborhood location and cash reserves, investing in real estate can be a great option. Many investors are drawn to the ongoing “coupon” payment of rental income, and as a long-term strategy, the ultimate sale of the property can fund a large portion of their retirement. If you’re considering whether you should invest in the equity market or buy an investment property, carefully weigh these factors and determine whether your expected income is worth the risk it carries, especially in light of other investment options.

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Luxury Living | Saunas and Spas

Whether it’s decompressing in a steam room or sauna, finding your Zen in a personal salt cavern or relaxing in the shower while taking in some of the most sought after views from around the world, the perks of having spa-equivalent amenities in your home are undeniable. Imagine yourself unwinding in one of these exclusive homes.

Poland

Price Upon Request | Wroclaw, Poland | Poland Sotheby’s International Realty

Poland – Nestled at the foot of the Sleza Mountain Range, this unique country estate sprawls over eight acres of parklands. Once a private enclave for renowned philanthropist, humanitarian and art collector Barbara Piasecka Johnson, this home enjoys a spa, sauna and bijoux salt cavern lined with mineral-rich Himalayan bricks among its offerings.

BVI

$3,995,000 USD | Tortola, British Virgin Islands | British Virgin Islands Sotheby’s International Realty

British Virgin Islands – Located on one of the most captured beaches in the Caribbean, Sunset Villa is in a highly sought after part of Long Bay. Imagine mesmerizing sunsets, panoramic views and the tranquil sounds of the surf at your doorstep. Enjoy unforgettable vistas from one of the en-suite spa showers at this island escape.

California

Price Upon Request | Orinda, California | Bay Sotheby’s International Realty

California – Enter through the hand-forged iron gates into this majestic estate. The Hilltop offers a seemingly infinite offering of amenities including an entire separate sports complex complete with rock climbing wall, tennis, golf simulator and luxurious sauna and spa. Enjoy the views and meticulous craftsmanship of this home from the numerous indoor and outdoor entertaining spaces.

Italy

5.300.000 € EUR | Siena, Italy | Tuscany Sotheby’s International Realty

Italy – This historic estate dates back to the 17th century. Its quintessential architecture and idyllic setting epitomize the Tuscan lifestyle while the wide array of amenities befits a modern one. Complete with a world-class spa, this rustic retreat spans well over four thousand acres of Italian countryside.

Sweden

5.700.000 KR SEK | Skane, Sweden | Sweden Sotheby’s International Realty

Sweden – Positioned on Kullahalvön’s majestic slopes, this inviting summerhouse is a private natural getaway. Floor to ceiling windows and sliding glass doors blend interior and exterior spaces through the property providing an organic living experience complete with incomparable sea views.

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Significant Sales, Volume 3 – 2015

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