Trulia Welcomes Our Lucky Contest Winner Into A Life of Luxury!

A few months ago, we ran a fun contest on Facebook to give away a weekend in the epicenter of luxury – Los Angeles, California! The winner would get a weekend stay in a mansion in Beverly Hills, chauffeured day trip around the glammest parts of LA with Michael Corbett and $500 to spend on whatever their hearts desired. Our winner was Trulia super fan Christin M. from Nashville, North Carolina. No, not Nashville, Tennessee – the OTHER Nashville, an hour from the beautiful North Carolina coast.

Christin and her mom Brenda arrived in LA and set out to explore all that the city had to offer. Hollywood, Beverly Hills and the beach – they saw it all! Together with Trulia PR manager Cristin Zweig and Trulia’s real estate expert Michael Corbett, Christin and Brenda got a sneak peek into luxurious living in Los Angeles on three amazing home tours.

Below, you’ll find an overview of the day and just a taste of the amazing photos. To see everything, view the Facebook album. While you’re at it, “Like” Trulia on Facebook!

A Day of Luxury in Los Angeles!

The first stop was “The House of Rock” in Santa Monica. Formerly the longtime home of the late screen legend Katherine Grayson, the home was purchased and transformed by well-known designer Elaine Culotti, and has become a showcase home with musical influences and incredible designer touches. For the next few months, the home will be a show-stopping venue for some select charity functions. It is set to hit the market later this year.

The home’s exterior. Image courtesy of The House of Rock

Brenda, Michael and Christin outside The House of Rock in Santa Monica

For Christin, Brenda, Michael and Cristin, this home hit a perfect note!

Our next stop was Bel Air, where we met with Eduardo Umanksy of The Agency. He’s as charming and smart as they come in the real estate industry, and he showed us around 655 Sarbonne Road. Listed for $16.495M, the magical Mediterranean estate appears to be worth every penny!

The home’s exterior, as seen from the outdoor living area and expansive backyard

Brenda, Michael and Christin smile for the camera alongside the stunning pool

See more images and information about this home on Trulia!

Our last stop for the day was up in the “Bird Streets” of the Hollywood Hills. Perched high atop Nightingale Drive, this amazing, brand new listing is on the market for $16M with the Gary Gold of Hilton & Hyland. Gary welcomed us into this incredible home, which boasts some of the very best views in all of Los Angeles.

An infinity pool and indoor/outdoor living make this property second-to-none

Check out those views!

When it was finally time to say farewell, Christin said, “My mom and I had such a blast! It was amazing, best day ever! I’m pretty sure we’ll still be laughing and talking about that day weeks or months from now. We couldn’t of asked for a better time than we had.”

At the end of the amazing day, we said goodbye to our lucky winners!

At Trulia, we always strive to give our users the inside scoop on real estate. Taking you inside the homes of the rich and famous is just one more way we do that. Keep up with Trulia on Facebook for a chance to win our next spectacular giveaway!

If you didn’t get enough of the images from this great weekend, view the Facebook album.

PR @ Trulia. Pop Culture Vulture

View the original article here

[NYT Business Day Live] Luxury Real Estate As Art?

Posted by Jonathan Miller - Saturday, September 1, 2012, 6:00 AM

[click to play]

I enjoyed the interview of James B. Stewart and Alexei Barrionuevo by Louise Story (best last name a reporter could ever have), on the topic of luxury real estate in the New York Times Business Day Live video series. Mr. Stewart (author of Den of Thieves – one of my favorite books of all time) penned “The Market for Real Estate Masterpieces” exploring the idea of high end real estate as art based on Alexei’s high end housing market coverage of the past year, including the $100M listing (including the upset interior designer), the $88M sale and the >$90M contract among others.

Here was my take on the “Art as Real Estate” angle in Mr. Stewart’s column:

“When people refer to their real estate as art, they’re really trying to say it’s unique, that it can’t be replicated.”

He said he’s seen the phenomenon not just in New York, but also Miami, London, Los Angeles and other markets where investors “are looking for safety in a world of turmoil and uncertainty.”

But, he said, “they’re confusing price with art. You’d think that titans of industry would be very individualistic about their acquisitions, but at the very top, there’s a herd mentality. You get one or two very large transactions that grab headlines and then it’s like a light switch goes off. In New York, this happened in the second half of 2010, and since then it’s been very intense. The size of what’s happening is unprecedented. How long can this go on? You see this kind of behavior and you have to wonder.”

New York Times Business Day Live August 31,2012 [New York Times]
Common Sense: The Market for Real Estate Masterpieces [New York Times]
Reaching for $100M [New York Times]
Other Luxury Real Estate articles by Alexei Barrionuevo [New York Times]

View the original article here

Bloomberg Manhattan Luxury Housing Market Charts

Posted by Jonathan Miller - Thursday, August 9, 2012, 12:02 AM

A few years ago Bloomberg set indices for the Manhattan Luxury Housing market based on our data seen by their terminal subscribers. Kind of cool.

These charts show the reset when the credit crunch began circa 2007-2009. On a ppsf basis (top chart), the luxury market seems to have begun climbing again at the same trajectory that was seen pre-Lehman bankruptcy.

View the original article here

[Three Cents Worth NY #199] Luxury Market Getting Away From Us

Posted by Jonathan Miller - Tuesday, July 17, 2012, 3:26 PM

It’s time to share my Three Cents Worth (3CW) on Curbed NY, at the intersection of neighborhood and real estate in the capital of the world. And I’m simply here to take measurements.

Read today’s 3CW post on @CurbedNY:

This week I took a look at the top of the Manhattan apartment market to see whether or not all the luxury housing market hype we are reading about is, well, all hype. It sure doesn’t look like it is. After all, the trophy sales we have been reading about (that have closed) on Curbed only impact the overall stats by a few percentage points if removed, so I wanted to see if the luxury market gains were a broader phenomenon.

[click to expand]

Curbed NY : Three Cents Worth Archive
Curbed DC : Three Cents Worth Archive
Curbed Miami : Three Cents Worth Archive

View the original article here

Wall Street Comp’s Influence On Luxury Housing Prices

Posted by Jonathan J. Miller -Tuesday, March 13, 2012, 12:54 PM
No Comments

As shown in the above Bloomberg chart based on our Manhattan data and the NYS Comptroller’s, Wall Street Comp/person and the Manhattan luxury market show similar trending. Not speaking to causation here.

Bad news for sellers? So the logic follows that with a decline in compensation per person in 2011 – largely from a poor second half 2011 performance, luxury prices could slip a bit in 2012 and perhaps the following year if things continue as they were. I said:

“People are making decisions a year or more down the road because they’re getting their deferred cash,” he said. “We may see a little weakness in 2012,” and “next year could be weaker based on this trend of lower compensation.”

However…

Good news for sellers? Some view Wall Street’s poor performance in the second half of 2011 as an anomaly, and with bond trading now on the rise, bank performance could be better next year (or the same if another second half plunge occurs). If the former occurs then there is more potential for greater Wall Street comp and perhaps better luxury housing market performance. I like the above debt chart because it really illustrates how much the industry fell in the latter half of the year. The WSJ reports:

For the first time in a year, traders and bankers are optimistic about the future following a dark second half of 2011. Layoffs, pay cuts and public outrage against the financial industry undermined morale at banks and securities firms, while economic malaise throttled banking and trading businesses.

Smaller Wall St. Bonuses Mean Cheaper Condos in New York: Chart of the Day [Bloomberg]
Bond Trading Revives Banks [WSJ]

View the original article here

Globe Trotting: Hitler's Nazi Resort of Dreams to be Turned Into Luxury Apartments

× Like us and you'll find top breaking news in your Facebook newsfeed. Sign up for our daily email newsletter and get top stories and breaking news delivered to your inbox. Wednesday, April 27, 2011, by Sarah Firshein

Properties with weighty pasts are kind of like bedtime stories here on Curbed; we just can't get enough of—oh, holy moly, scratch that. This particular story is the stuff of nightmares: a bunch of blocks in one of Adolf Hitler's so-called Seaside Resorts for the Common Man on the German island of Ruegen are going to be turned into luxury apartments. Hitler conceived the 2.5-mile-long complex as one of five vacation super-resorts designed to accommodate thousands and thousands of Nazi factory workers at a time and offer leisurely diversions such as "Nazi-approved exercises, courses and talks." Sounds just like Club Med, doesn't it?

Anyway, the Reugen buildings broke ground in 1936 and cost the equivalent of $1.239B in today's currency, an absurd sum we can thank on Hitler's megalomaniacal desire to create a name for himself in this realm (of real estate development, apparently). War broke out three years later and no one ever set a foot inside—the buildings are now vacant and vandalized, except for one small museum and a youth hostel. We can't wait to see how the complex is revamped and, of course, who the lucky buyers are. Kind of gives new meaning to the "Hitler house," no?

· Mein summer camp: How Hitler wanted Nazis to become world's largest tour operator with Butlins-style holiday resorts [Daily Mail]
· Meet the House That Bears a Striking Resemblance to Hitler [Curbed National]

View the original article here

Luxury Living - The Latest in Luxury Resort & <b>Real Estate</b> News <b>...</b>

Tiger Woods' Dubai Golf Project Halted Tiger Woods

(DUBAI, UAE) -- The much-hyped Tiger Woods-designed golf course in Dubai has been officially halted by developers due to the economic downturn.

A statement this week by the golf course developer said "market conditions" were behind the decision to suspend work on the Tiger Woods Dubai on the city's desert outskirts.

The announcement -- just before Woods is scheduled to play in the Dubai Desert Classic next week -- shows that Dubai's property market is still reeling from the severe credit crunch that hit last year and stalled many headline-grabbing projects, including the iconic manmade palm-shaped island that helped put Dubai on the map.

"It's been put on hold for right now. A lot of projects are out there," Woods told The Associated Press  after he finished his season debut at Torrey Pines last Sunday. "It's still there. We've got six completed holes and a few that were about to be grassed before construction was halted. Everything is on hold."

The golf course developer, part of Dubai Properties Group, left open the possibly that work could someday resume.

"These conditions will continue to be monitored," according to a statement  reported by the Associated Press. "A decision will be made in the future when to restart the project."

Only a few holes have been completed on the $1 billion course, planned as the centerpiece for a complex of 100 villas, 75 mansions, 22 sheik-style palaces, a boutique hotel, a golf academy and 30,000 full-grown imported trees.

The course is part of a far-larger leisure and living master plan known as Dubailand, which also has largely come to a standstill by Dubai's fiscal crunch. Officials had planned to open multiple theme parks including Universal Studios, Legoland and Six Flags -- none of which has been built.

Dubai Properties Group is part of a conglomerate known as Dubai Holding, which is controlled by the city-state's ruler, Sheik Mohammed bin Rashid Al Maktoum. Like a number of government-linked Dubai companies, the conglomerate is deeply in debt and has been locked in talks with creditors to renegotiate the terms of its liabilities.

Woods was among the sports personalities who frequented Dubai during its free-spending boom years and used to market several master-planned resort communities. Woods won the Desert Classic in 2006 and 2008 and never finished lower than fifth since he started playing in the emirate in 2001.

The course developer said it and Woods "will retain our commercial agreement together," according to the AP report.

Over the years, other well-known golfers have designed courses in Dubai, including Colin Montgomerie in '06 and Ernie Els in '08.

Ritz-Carlton, Dove Mountain Off to Strong Sales (MARANA, AZ) -- Luxury second home buyers are taking notice as The Residences at The Ritz-Carlton, Dove Mountain community is showing significant sales momentum going in to 2011. The first new homeowners will move in this spring, five more home sales totaling over $5 million occurred in December and January, and just last week a custom estate home site was purchased, the developer recently announced.

In addition to rising home sales, signs are clearly pointing in the positive direction as the developer just broke ground on two new beautiful homes that will offer immediate move-in opportunities once complete.   

"Buyers are seeing the economy shift and we closed the year on a high note," said Residences developer David Mehl. "We have also seen a significant increase in site visits and phone calls from other prospective homeowners. The current market conditions are optimal for those seeking a luxury home with the countless amenities offered by The Residences."

Recently, The Residences played host to more than 70 of Southern Arizona's top brokers and real estate agents who came to meet Google pioneer Ray Sidney discuss his majority stake in The Ritz-Carlton Golf Club and The Residences and hear about Mehl's vision for the future of the community.  Since the broker event, home tours and sales calls have significantly increased.

So what is it that is drawing in buyers to The Residences? For starters, significant capital infusion by Sidney has eliminated all community debt creating lower cost opportunities for luxury home buyers interested in purchasing the highly-personalized homes or custom estate homesites.

The initial residential phase, already underway, will have 110 highly-personalized homes featuring the finest in design and finishes, together with 16 custom estate homesites.  New prices for the Amolillo single family homes start at $1.1 million; Seven Saguaros single family homes start at $1.5 million; and custom fairway homesites start at $590,000; villas start in the high $600,000's; and Rockpoint Ridge custom estate home sites start at $750,000.

Property owners and Golf Club members will enjoy the wide array of amenities and impeccable service all managed by The Ritz-Carlton.  The community features miles of world-class hiking trails, unparalleled access to The Ritz-Carlton's new 250-room resort and spa, and dedicated "members-only" access to the 27-hole Jack Nicklaus Signature Golf Course and the facilities of The Ritz-Carlton Golf Club.

In February, and for the third year in a row, The Residences will play host to the PGA Tour's Accenture Match Play Championship, featuring the 64 best golfers in the world. One of Golfweek magazine's "Best Courses you Can Play 2010," the property's Jack Nicklaus Signature Golf Course is among the 848 courses now listed by Audubon International and is a Certified Audubon Cooperative Sanctuary, one of only 15 courses in Arizona to receive the honor.

The Ritz-Carlton Hotel Company, L.L.C., of Chevy Chase, Md., currently operates 72 hotels in the Americas, Europe, Asia, the Middle East, Africa, and the Caribbean. Opened in January 2009, The Ritz-Carlton Golf Club, Dove Mountain is an essential component within the Ritz-Carlton community in Marana's high Sonoran Desert. Twenty-seven holes of golf and the 45,000 square-foot clubhouse complex currently comprise The Ritz-Carlton Golf Club, Dove Mountain, with an additional nine holes of golf proposed in the future.

Click Here To See Prior News Posts By This Contributor »

View the original article here

London Luxury Development Opens This Week: The London luxury development that contains...

× Like us and you'll find top breaking news in your Facebook newsfeed. Sign up for our daily email newsletter and get top stories and breaking news delivered to your inbox. Monday, January 17, 2011, by Sarah

? Back to top

? Previous: At Home With Designer Peter Dunham

? Next: Justin Bieber and Selena Gomez Make Out in Swank Caribbean Hideout

View the original article here

Lilly Pulitzer Home-Goods Expansion Approaching: Fire up those Hamptons Luxury Liners:...

Like us and you'll find top breaking news in your Facebook newsfeed. Sign up for our daily email newsletter and get top stories and breaking news delivered to your inbox. Thursday, December 16, 2010, by Sarah

? Back to top

? Previous: Grace and Grandeur Still Alive in Archival Shots of Interiors

? Next: Confusion About Where the Newly Released Julian Assange Will Retreat

View the original article here