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Sonoma Valley Market Snapshot

Two Coral Gables Mansions Offer the Perfect Place to Park Your 100-Ft Yacht

Just Listed

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December 1, 2022

Two Coral Gables Mansions Offer the Perfect Place to Park Your 100-Ft Yacht

One of the best perks of owning Florida waterfront property? It can double as a place to park your yacht. In the case of a pair of recently listed mansions in Coral Gables by The Jills Zeder Group, they’ve taken that perk and raised it with prime water frontage and channels wide and deep enough to accommodate a 100-foot yacht. The first property, situated at 585 Arvida Parkway, unites an elegant 12,102 square-foot residence on beautifully landscaped grounds in the prestigious community of Gables Estates. Featuring 180 feet of waterfront with direct access and no bridges to Biscayne Bay, the property offers some of the best views of the bay, a private dock and a 20,000-pound boat lift, making it “an ideal find for the boating enthusiast,” says Nathan Zeder of The Jills Zeder Group, affiliated with Coldwell Banker Realty in Coral Gables. Featuring east and west wings, the exterior facade melds Dutch and island influences. The two-story interiors “are the epitome of chic,” adds Judy Zeder, with double-height ceilings, stunning living and formal dining rooms, and a chef’s kitchen with Gaggenau appliances and a breakfast area. A total of six bedrooms complete the home, including a lavish main suite that offers a luxurious marble bath with a long-mirrored vanity, jacuzzi and multi-jet shower, and two walk-in closets. Other notable features include an elevator, family room, library, two fireplaces, a 4-car garage and resort-style grounds punctuated with covered outdoor terraces, a pool and all of the mariner’s amenities you need for life on the water. Just a few doors down on Arvida Parkway, the next property also offers 180 feet of water frontage and a 100-foot private dock with a 35,000-pound boat lift. Here, Florida resort living gets a sophisticated interpretation with over 16,700 square feet of living space in a three-level contemporary-inspired Mediterranean mansion. The Zeders call the home “a work of art” from top to bottom. Masterfully designed for entertaining, the interiors are centered around gracious family and game rooms appointed with wet bars, a temperature-controlled wine cellar and a theater. Meanwhile, the formal living room is anchored by a fireplace and flows to the elegant dining area and chef’s kitchen with Wolf, Miele and Sub-Zero appliances. Other amenities include a fitness room with a sauna, office and elevator. Six bedrooms, along with six full baths and two half baths, allow everyone their own space. Meanwhile, the gorgeously designed primary suite beckons with a sitting room, spa bath and a balcony, giving you the chance to take in breathtaking water views. Resort-like grounds await just beyond with a summer kitchen, pool, jacuzzi and plentiful amenities for the serious boater. For more information on either of these properties, call (305) 341-7447.  The post Two Coral Gables Mansions Offer the Perfect Place to Park Your 100-Ft Yacht appeared first on Coldwell Banker Global Luxury Blog - Luxury Home & Style.

By Alyson Pitarre

Editor's Note

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November 29, 2022

Finding the Bright Spots

As we prepare to close out 2022, I’d like to offer a brighter perspective for the approaching new year. A new year brings new beginnings and fresh energy. It’s a time to feel gratitude for your accomplishments and celebrate the small victories you’ve had over the past two historic years of homebuying. It’s also a time to embrace change and evolve. What can you do differently to serve your buyers? How do you make your sellers feel more comfortable in this environment? How can you diversify your business or expand your services? Rather than run from challenges, this is the moment to lean into them – because you never know when a new avenue of opportunity might be discovered. You may find a niche in your local marketplace that’s being underserviced. You may find that you have to work harder in this new market, but how can you work smarter instead? Brush up on new technologies. Take the time to freshen up your knowledge base by attending seminars and classes. Focus on building your relationships and expanding your personal network. The Coldwell Banker Global Luxury® platform is tailor-made for moments like this. I encourage all of you to take advantage of all of the amazing offerings available to you as a Global Luxury Property Specialist. Exclusive networking events. Special certifications and educational programs. Data-rich reports that you can customize to your market. Social media resources and tools. This is the time to take your business to the next level. Noam Chomsky had the right idea when he said, “optimism is a strategy for making a better future.” You first have to believe the future can be better before you can take responsibility for the future. By finding the bright spots in the market and keeping a positive outlook, you have the power to make your 2023 better. We can do it together.   The post Finding the Bright Spots appeared first on Coldwell Banker Global Luxury Blog - Luxury Home & Style.

By Alyson Pitarre

Home of the Week

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November 22, 2022

Rare Queen Anne Victorian in Fairfield’s Sasco Point

Remarkable water views, the ocean breeze, and ultimate privacy define Fairfield County’s most coveted location: Sasco Point. “It’s an exclusive community of less than 10 homes,” Cindy Raney of Coldwell Banker Realty in Westport recently told Mansion Global. “It’s absolutely quiet and beyond private.” Amid this idyllic setting, Raney has listed an architectural masterpiece in the form of an award-winning, custom modern-day Queen Anne Victorian.  Renowned architect Jack Franzen designed the imposing residence of over 15,000 square feet and was inspired by the historic elegance of the landmark Vanderbilt Shelburne Farms estate. Franzen’s architecture creates an intimate feeling among the multitude of formal and informal spaces. A total of nine bedrooms, 12 full baths, two half baths, and an 8-car garage provides enough space for family and friends. Over four gracious levels with elevator access deliver all of the charm and warmth one would expect from an Inn. The location is just as captivating as the architecture. Situated on a private lane overlooking Long Island Sound, the estate is within walking distance of Sasco beach, a short drive to Southport Village, and 50 miles from New York City. Magnificent water views are one of its most defining characteristics. Veranda access from all of the south-facing rooms, along with a sweeping terrace and pool enjoys the breathtaking views and contributes to a sophisticated indoor/outdoor atmosphere perfect for entertaining. Meanwhile, “the home’s primary suite is unmatched,” Raney reveals. “There are two full baths, a sitting room, immense closet space, an expansive deck, and gorgeous views.” As one might expect, the highest quality luxury materials were used throughout the home to recreate the grandeur of Vanderbilt Shelburne Farms: mahogany true divided light windows, quarter-sawn oak double stairway, beautiful arches, paneling, floors, and more. View the complete listing by Cindy Raney of Coldwell Banker Realty in Westport. The post Rare Queen Anne Victorian in Fairfield’s Sasco Point appeared first on Coldwell Banker Global Luxury Blog - Luxury Home & Style.

By Alyson Pitarre

Glamping Gets the Four Seasons Treatment in Mexico

Travel

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November 22, 2022

Glamping Gets the Four Seasons Treatment in Mexico

Glamping hasn’t lost its luster. According to a report by Allied Market Research, the global glamping market generated $2.68 billion in 2021, and is projected to reach $7.11 billion by 2031. Even The Four Seasons has found a space to capitalize on the trend. The luxury hotel brand continues to expand into this terrain with a new crop of luxury stays that interpret the glamour-meets-camping movement with the Four Seasons’ signature style, elegance and service. The most recent of its tented luxury stays comes out of Punta Mita, Mexico. Naviva, a Four Seasons Resort, hailed as “the brand’s first adult-only tented resort in the Americas,” and will be open for arrivals beginning December 1, 2022. Set on Mexico’s Pacific coast, within the Riviera Nayarit, Naviva is located at the northern tip of Bahía de Banderas on the same peninsula as Four Seasons Resort Punta Mita and just 45 minutes from Puerto Vallarta International Airport. The first-of-its-kind resort offers only 15 luxury tents nestled amid 48 forested acres and designed by Luxury Frontiers – all with private plunge pools, making Naviva one of the smallest Four Seasons resorts in the world. Also making it a standout is the resort’s offering of certified guides who can interface one-on-one with guests on everything from “the culture and character of Mexico,” says Parrotta, to biophilia. Adds Ronny Fernández, Resort Manager for Naviva:  “Our location tucked in a cliffside forest creates the feeling of being disconnected in a faraway destination, when in reality, we’re only a short flight away from the U.S.” Bonding with Nature Naviva is a celebration of biophilic design – an architectural approach that connects people to their natural surroundings. Upon arrival, guests are immediately met by their guide on a cocoon-inspired bamboo bridge overlooking a deep forest ravine. Each stand-alone luxury tent features spacious indoor and outdoor areas that seamlessly blend together. An open-air living room and a separate bedroom flow to a private plunge pool and expansive deck with a hammock and outdoor shower. Indirect connections to nature are also created via interior textures and fabrics that mimic natural patterns found in the environment. Getting the Local Experience With individual transformation as its focus, Naviva encourages guests to explore their passions and discover new ones with their guides. Sometimes it’s the simple things – like sampling small-batch Mexican coffees, stargazing or joining in sunset rituals. Local talents will also be brought in to bring the authentic character and heritage of Mexico to Naviva, whether it’s visiting a local artist at his private home and studio or something more, unconventional, like nocturnal forest bathing. Tending to the Mind, Body and Soul Traditional hotel wellness offerings get a Naviva twist too. Naviva offers a series of intimate spaces including two spa pods tucked away in the lush forest, a traditional Mexican temazcal or “house of heat,” an outdoor gym, a serene jungle oasis at the Alma Pool and a private 575-foot (175-meter) expanse of pristine Pacific beachfront – a calming place to practice yoga or mindfulness. An example: if guests are looking for a shift in internal energy, they can take a half-day retreat in one of the cocoon-like spa pods that were inspired by the seed of the local Ceiba tree and provide cocooned refuge. All holistic rituals at Naviva harness the healing properties of indigenous ingredients, from regenerative reishi and hydrating snow mushrooms to natural gemstones and colored clays found throughout Mexico. And guests will have a chance to tend to their physical body as well, with cliffside yoga sessions, scenic hiking and running trails, or strength training in the outdoor open-air gym overlooking the Pacific. Connecting with Others  Guests will have their choice of dining options as well. There’s a unique shared gathering space that’s meant to evoke the feeling of being in a living room and kitchen of a private home overlooking the Pacific, with games, reading, conversation, ideas, music and all-natural meals (with a focus on seafood) made with traditional BBQ pits, wood-fire grill rotisseries and wood-fire ovens. Finding Your Place The luxury tents at Naviva start at $3,950 USD per night and include all meals and snacks at any time of the day throughout the Resort, 24-hour in-tent dining, pool and beach service, all beverages including premium wine and spirits, one 60-minute spa treatment per guest, community activities, mind and body classes, Unscripted Naviva experiences, guide planning and in-tent amenities.  Signature Naviva experiences, rare or specialty-ordered beverages, additional spa treatments, private classes or training, and airport transfers are available for an additional cost. As part of their booking, Naviva guests also receive full access to the adjacent Four Seasons Resort Punta Mita, located just five minutes away. The Resort features ten restaurants and bars, two golf courses, three pools, two beaches and additional spa and fitness facilities. To book a reservation, call +52 (328) 291-6100 or book online. The post Glamping Gets the Four Seasons Treatment in Mexico appeared first on Coldwell Banker Global Luxury Blog - Luxury Home & Style.

By Alyson Pitarre

10 Over $10 Million: November 2022 Edition

10 over $10 Million

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November 18, 2022

10 Over $10 Million: November 2022 Edition

Timeless oceanfront mansions, historic townhouses, peaceful tropical retreats—no matter which way you slice it, the latest $10 million+ dream listings from the Coldwell Banker Global Luxury® program fulfill every have-your-cake-and-eat-it-too house fantasy. 2455 S Ocean Boulevard Highland Beach, FL. $65,000,000 A residence of prestige, luxury, and incomparable beauty, this timeless Highland Beach oceanfront estate commands majestic views from gorgeous interiors, spectacular grounds, and over 150 feet of private manicured beachfront. Designed by celebrated Madey Architects with superb construction by Mark Timothy Luxury Homes and inspired interiors by Marc-Michaels, the trophy property is magnificently sited on nearly two acres in the most prized Estate Section of Byrd Beach. Created for grand-scale entertaining and exceptionally comfortable beach living, this custom chateau is impeccably detailed for enduring quality and unrivaled splendor. Listed by Jonathan Postma of Coldwell Banker Realty in Boca Raton 2168 E Oceanfront Newport Beach, CA. $35,995,000 Presiding over unobstructed ocean, channel, park, and shimmering city-light vistas, this dramatic, brand-new contemporary estate is perfectly situated on two oceanfront lots at the end of the Balboa Peninsula. Created by the revered Graham Architecture and completed with exceptional diligence and quality by premier custom home builder Chris Gallo of Gallo Builders, the four-bedroom Wedge House is designed for memorable indoor-outdoor entertaining and a lifestyle of luxurious ease. Stunning interiors of appx. 3,725 square feet are highlighted by vaulted hemlock ceilings, floor-to-ceiling walls of glass, Fleetwood doors, an elevator, and radiant-heated porcelain tile and white oak floors. Wraparound terraces, including an outdoor kitchenette, face onto view frontage of appx. 140 feet and offer a convivial setting for both grand and intimate gatherings. This landmark estate comes with approved city and coastal development plans for a one-bedroom, one-bath guest house complete with a kitchen, garage, pool, and spa. Listed by Tim Smith of Coldwell Banker Realty in Newport Beach 150 Beacon St Unit 1 Boston, MA.  $13,500,000 Traditional elegance and magnificent architectural details characterize this classic Back Bay condominium home. The spacious interior features 14-foot ceilings, gorgeous moldings, exquisite custom cabinetry, hardwood floors, and multiple fireplaces. In addition to formal living and dining rooms, there is a grand-scale kitchen/family room looking onto a tranquil landscaped deck for lounging, entertaining, and al fresco dining. The serene primary bedroom suite is on the main floor, while the upper level is home to two additional en-suite bedrooms and another family room overlooking a small, landscaped garden. Originally designed by architect Alexander W. Longfellow, Jr., the entire building was in the 1920s the home of Alvan Tufts Fuller and Viola Theresa (Davenport) Fuller. Noted art collector and philanthropist, Fuller served in the Massachusetts House of Representatives and was a two-term Governor of Massachusetts beginning in 1924. Listed by William Frenchand Jay Tedeman of Coldwell Banker Realty in Boston and Cambridge  405 Lake Street S Kirkland, WA. $16,950,000 Built on the Moss Bay waterfront with spectacular views of the Seattle skyline, Lake Washington, and year-round sunsets, this dramatic lakefront contemporary is located in the heart of vibrant downtown Kirkland. Designed in stone, steel, cedar, and glass by renowned architect Rick Chesmore, the three-level residence offers stunning views from floor-to-ceiling windows and decks and terraces on each level. An open layout and large retractable doors provide exceptional harmony and seamless flow between flawless interiors and peaceful surroundings, including a 150-foot private dock. With approx. 5,716 square feet of living space, the home’s architectural lines are highlighted by smooth concrete floors, a blackened steel staircase, exposed steel structural beams, and an upper-floor catwalk under a 42-foot-long skylight. Listed by Terry Allen and Darius Cincys of Coldwell Banker Bellevue 15930 Woodvale Rd Encino, CA. $21,950,000 Breathtaking in scope and scale, the brand-new Woodvale Estate is contemporary living at its most luxurious. A private sanctuary of over 0.81 acre with more than 21,000 square feet of living space, the state-of-the-art property is meticulously crafted with exceptionally beautiful materials and amenities that affirm the very definition of sumptuous living. Superlative features include chef’s prep kitchen, home theater, professional gym, full spa, hair salon, elevator, temperature-controlled wine storage, a 14-car garage that doubles as an event space, outdoor basketball court and fabulous detached two-story guesthouse. Open pavilion architecture with vanishing walls and seamless egress means sophisticated indoor-outdoor living and impressive entertaining. Set behind gates with a cobblestone drive and manicured landscaping, every detail of the compound has been realized with unparalleled attention to exceed the expectations of even the most discerning buyer. The pinnacle of luxury. Listed by Jade Mills of Coldwell Banker Realty in Beverly Hills 1005 Woodland Drive Beverly Hills, CA. $32,500,000 The Harry Warner estate has hosted dignitaries of stage, screen and state since the late 1920s. Today, this majestic Beverly Hills compound carries forth its legacy as both a home of rare comfort and a setting for entertainment. Exceptionally private, the Tudor-style residence occupies approximately 1.15 flat acres with three gated entries, magnificent gardens, tennis court, guest house, grotto pool and spa, koi pond and an expansive lawn. French country styling, with rough-hewn beams, French wood floors, hand-carved woodwork and grand fireplaces, creates an atmosphere of welcoming grandeur complemented by contemporary conveniences. At more than 12,000 square feet, the estate features seven majestic bedroom suites, a sumptuous screening room, a billiards room, a large gym, a professional country kitchen, and a library/lounge. Listed by Gary Gold of Coldwell Banker Realty in Beverly Hills 887 Closter Dock Road Alpine, NJ. $18,888,888 Classical proportions and palatial opulence create a sumptuous ambiance in this magnificent 8-acre compound. With approximately 35,000 square feet of living space, including 10 lavish en-suite bedrooms, the gated estate is exceedingly private and surrounded by exquisite landscaping with ample room for grand entertaining. From the handsome wrought iron gates to the soaring foyer, natural light-infused rooms, and exquisitely manicured grounds, this is a legacy residence of traditional European design only minutes from New York City. Remarkable details include hand-painted coffered ceilings, sparkling illumination, handcrafted custom cabinetry, carved moldings, numerous majestic fireplaces, and oversize windows and French doors opening onto expansive terraces and gardens. Other features include a luxurious home theater, game room, indoor and outdoor basketball courts, pool with cabana, tennis court, and guest house with private entrance. This distinguished Alpine estate offers a rare combination of classical beauty and contemporary comforts. Listed by Joshua Baris and James Collins of Coldwell Banker Realty in Fort Lee and Closter  8040 Kula Hwy Kula, HI. $10,888,000 This magnificent upcountry Maui estate is a private refuge, surrounded by nearly eight acres of pasture land and a sensational 360-degree ocean and mountain panorama. More than 6,100 square feet of living space enjoy the full benefit of the views with spacious, open rooms detailed with rustic reclaimed elm floors, African mahogany, silver oak, and teak cabinetry. A huge great room with 11-foot ceilings opens through vanishing walls to an expansive quartzite-tiled lanai for relaxation, dining, and sparkling entertaining. Thoughtfully designed and handsomely detailed, the home features a sound-proof screening room with high-definition projector and surround sound, a steam room, sauna, mirrored gym with quiet cork flooring, a gorgeous chef’s kitchen with granite countertops and premium appliances, a guest suite and Sonos sound throughout. In addition to an outdoor kitchen, the verdant grounds feature an infinity-edge pool with spa and cabana, fire pit, and manicured landscaping with rolling lawns, mature fruit trees, and a tiered herb garden. Listed by Riette G Jenkins of Coldwell Banker Island Properties in Wailea 6800 Fisher Island Dr Unit 6874 Miami Beach, FL. $21,000,000 Commanding breathtaking views of Biscayne Bay, Government Cut, Miami Beach and the ocean, this Palazzo Della Luna corner unit is sleek, spacious and contemporary in styling. With private elevator access, four en-suite bedrooms and more than 4,900 square feet of luxurious living, the impeccably designed residence is detailed with walls of glass and wide-plank oak wood floors. The open layout invites effortless flow from majestic interior spaces to the huge wraparound terrace with ample room for dining, entertaining and simply watching the non-stop play of light on the water. The Boffi-designed custom kitchen features granite countertops, top-of-the-line Miele and Sub-Zero appliances and built-in wine storage. Walls of glass in the sumptuous principal suite frame direct water views and the stunning bathroom features a Carrara marble rain shower and soaking tub. There is also a lovely private back terrace. Relax and enjoy the exclusive Fisher Island lifestyle enhanced by ultra-luxury Palazzo Della Luna six-star amenities. Listed by Jill Eber and Jill Hertzberg of Coldwell Banker Realty in Miami Beach          Hermosa Casa de Playa 5BD en Punta Cana Punta Cana, Dominican Republic  $10,800,000 Created for tropical resort living, this dramatic island residence lives up to its name: a beautiful beach house. Constructed around an open central garden patio, and surrounded by palm-fringed ocean views, the home is located on the famous Playa Serena of Punta Cana Beach and Resort. Each room’s unique and hand-selected décor invites memories of exotic adventure and sublime relaxation. Asian, African, and island artifacts and handicrafts are combined with native materials and colors of the tropics for an ambiance of tranquil beauty. An enormous saltwater aquarium fills nearly an entire wall of the primary suite and its corals and fish animate the open living, dining, and entertaining pavilion at the heart of the residence. A tiled terrace, expansive deck, and large swimming pool with fountain and palapa complete the perfect year-round vacation home with turquoise seas stretching as far as the eye can see. Listed by Jonatan De Peña Escaño of Coldwell Banker Prime Realty in Punta Cana The post 10 Over $10 Million: November 2022 Edition appeared first on Coldwell Banker Global Luxury Blog - Luxury Home & Style.

By Alyson Pitarre

Home of the Week

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November 16, 2022

Modern French Country ‘Staycation’ Estate Stuns Outside Dayton

It turns out that the staycation home obsession has remarkable, well, staying power. The latest estate to hit the market and capture the retreat-at-home concept arrives in Clearcreek Township, Ohio, just 30 minutes south of Dayton. Set on over 40 acres, the modern French Country estate has transportive qualities, making “you feel as if you have just entered a different world and way of living,” describes listing agent Jamie Wilson of Coldwell Banker Heritage in Centerville, Ohio. Wilson’s sentiments are reinforced by your first experience with the property. As you pass through stone gates, you travel down a private 700-foot driveway nestled behind acres of old-growth trees and multiple ponds. Impeccably designed and built in 2016, the sweeping 8,483 square-foot property immediately whisks you away to a place of seclusion and luxury with a 6,900 square-foot main house, 1,200 square-foot guest house and machine barn with attached office. Details, such as Bevolo gas lamps that guide you through your courtyard, 100-year-old reclaimed front doors, and intricate banisters incorporating French Quarter horse head hitching posts framed by reclaimed barn beams, artfully blend to balance old and new. An expansive floorplan prioritizes the need for casual family living and sophisticated entertaining spaces, ensuring both comfort and practicality. An expansive entertainment patio allows you to take your parties and events from indoors to out in seamless fashion, meanwhile, a lower-level game room keeps the entire family entertained during all four seasons. The chef’s kitchen celebrates a 21st-century vision of a farmhouse with Amish cabinetry, Wolf Range, and Cambria countertops. A total of five bedrooms includes the impeccably designed master suite with its two full-sized master bathrooms and closets. “While many of the estate’s touches are historic and worthy of becoming conversation pieces on their own, this home is designed and finished with the modern, luxurious touches and infrastructure a discerning homeowner deserves,” reveals Wilson. A long list of thoughtful amenities and modern-day touches ensure maximum value and future enjoyment can be passed down to the next owner,  including an all-home IP-based multimedia network, 19,000-tile Enviroslate roof with an over 50 year lifespan, 600 amp electrical service, back-up generator. Even pets were taken into consideration, thanks to a stand-alone dog room with a dog shower! “For the homeowner looking for modern design and finishes, coupled with history and architectural detail, you will find no other like it in all of Ohio,” concludes Wilson. View the complete listing by Jamie Wilson of Coldwell Banker Heritage in Centerville.    The post Modern French Country ‘Staycation’ Estate Stuns Outside Dayton appeared first on Coldwell Banker Global Luxury Blog - Luxury Home & Style.

By Alyson Pitarre

Luxury Real Estate

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November 16, 2022

Are Homes with Smaller Footprints Making a Comeback?

“New single-family homes are getting bigger,” said the National Association of REALTORS. “Larger homes in the U.S. are making a comeback,” declared Mansion Global. “Are McMansions back?” Inman.com mused. These headlines defined 2020 and 2021 at the height of the pandemic – and not just anecdotally. Prices for single-family homes with over 3,500 square feet in over 100 markets shot up 27.4% by the end of 2021. With the housing market shifting this year, is the big dream house still in high demand? Or are smaller homes making a comeback? The Trend Report 2022 published by the Coldwell Banker Global Luxury® program offers a fresh perspective on the subject. Michael Altneu, Vice President of Global Luxury, and Liz Gehringer, President of Affiliate Business of Coldwell Banker Real Estate LLC, recently got together to discuss it in more depth. Here’s a snapshot of their conversation: Michael Altneu One of the more intriguing trend points to come out of The Trend Report was that larger homes are not selling as fast as smaller homes this year. According to an analysis of 20 U.S. markets done by the Institute for Luxury Home Marketing, single-family homes with smaller footprints (2,500 to 3,500 square feet) were selling 18.6% faster than larger single-family homes (4,500 to 5,000 square feet) between April and August 2022. What’s your take on this development? Liz Gehringer When I read that statistic, I thought it was very interesting. Maybe even a little unexpected, especially after what we experienced in 2020 and 2021 with the frenzied demand for larger luxury single-family properties and what we know about modern affluent consumers. I think it’s important to put data like this into context, and not get too far ahead of ourselves. It’s not that affluent consumers don’t want larger homes. It’s that circumstances have changed since the pandemic first started. People may be dealing with tighter house budgets due to higher prices and interest rates. A lack of inventory of larger properties is also still a problem in many desirable locations across the U.S., so buyers are opting to get their foot in the door in an area they want at a smaller footprint and lower price point. In The Trend Report, we also theorize that many affluent buyers may have already purchased their primary residences, and are now turning their sights toward investment or secondary residences, which tend to be lesser-priced and smaller. Michael Altneu How much do you think lifestyle has come into play with the increase in sales of smaller homes? Are we seeing the opposite effect now that the pandemic is less of a factor for people? Liz Gehringer Absolutely, this is a factor too. Some people may not need (or want) to work from home anymore, and having two home offices may be less of a necessity. Faced with the prospect of longer commute times, they may also be looking for homes closer to the city, which tend to be smaller. Schools are open again, so kids don’t need extra space for at-home learning and play. The big yard with the pool may have been a must-have during the pandemic, but now it doesn’t get much use and it takes maintenance. The lifestyle patterns that were driving homebuying decisions during the pandemic are simply playing less of a role today than they were two years ago. Michael Altneu Is there anything else you think is essential for real estate agents to know about when it comes to the smaller footprints trend? Liz Gehringer I think it’s critical for agents to know what is selling at any given moment in the real estate market and know where opportunities are in this buying environment. They need to know and understand their clients’ changing desires, and also proactively anticipate their desires and needs. Maybe your client is not in the market for a big primary home at the moment – but they could be in the market for a smaller, lesser-priced home in another city, state, or even country, as an example. But again, it’s important to not take the data too literally. We need to view the recent rise in sales of smaller homes through the lens of several competing forces in this current market – low inventory, high prices, rising interest rates, and a change in lifestyle needs – as opposed to making a major prediction about a general shift in home size desirability. We believe larger properties are still desired by affluent homebuyers, but it often comes down to a want vs. need vs. can have. Since they tend to be more insulated from economic shifts than the general population, they can simply wait out the market until they find their big dream home or purchase a smaller property that allows them to have the lifestyle in the location they want. Or maybe they want to continue to build their wealth portfolio and generate passive income with a smaller investment property. Even the wealthiest consumers aren’t immune to the foils of low inventory. They can’t buy what’s not available. Michael Altneu Any final words of wisdom you’d like to leave with agents? Liz Gehringer Keep your eyes and minds open. Be willing to look beyond the data and past the sensational media headlines. Not everything is as it seems. The agents who will rise to the top in this dynamic, quick-moving real estate landscape must understand the unique market nuances at play, and be able to clearly explain their market’s facts to clients. This is your chance to show your value and shine as the knowledgeable real estate expert that you are. The post Are Homes with Smaller Footprints Making a Comeback? appeared first on Coldwell Banker Global Luxury Blog - Luxury Home & Style.

By Alyson Pitarre

Pure Gold: L.A.’s Gary Gold Gets Candid About The State of Luxury Real Estate

Luxury Real Estate

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November 15, 2022

Pure Gold: L.A.’s Gary Gold Gets Candid About The State of Luxury Real Estate

Gary Gold, one of L.A.’s most successful and trend-setting real estate agents, possesses a hidden talent: he’s a master of the sound bite. His “Gold-isms” range from bullish realism (“Stop panicking”) to straight talk with a twist (“I’ve had my best years in a bad market”) – and they’ve helped him become a marquee name in the real estate world. He has been a frequent guest on CNN, Fortune, Barron’s, Wall Street Journal, The Washington Post, Access Hollywood, CBS Evening News, E! Entertainment Television and The London Telegraph. His ability to produce highly quotable quips has also made him a sought-after speaker, panelist, and educator at industry conferences. Gary Gold Gold cemented his expert status by being cool, confident, candid, and really, really good at what he does. Although he’s a seasoned real estate veteran who got his start at 17 years of age, he gained acclaim after the sale of The Playboy Mansion, which set a record in 2016 as the first residence to sell for over $100 million in Los Angeles. Three years later, this achievement was eclipsed by his sale of the famed Chartwell Estate for $150 million. He’s since sold The Hearst Estate for $63.1 million —the highest-priced single-family home in the U.S. to ever sell at auction. That’s not to say he only works in the very top echelons of luxury real estate. His current listings represent a wide swath of the market from just under $30 million to roughly $2.7 million – enough to keep him supplied with a steady stream of insights and interesting stories to keep us all informed if not entertained. That’s why the Coldwell Banker Global Luxury® team sought out his unfiltered take on the current state of the high-end real estate sector for The Trend Report, recently released. He didn’t disappoint. With all of the headlines about a looming recession and a possible real estate slowdown, could he give us a dose of straight talk? His perspective should reassure anyone prone to panic: “Everyone’s anxious about the economy and its impact on the luxury real estate sector. But they’re not looking at the facts.” Everyone’s anxious about the economy and its impact on the luxury real estate sector. But they're not looking at the facts.Gary Gold For one thing, the housing supply is still down, he points out. If properties are desirable and priced right, multiple offers are occurring – especially in prime locations like Beverly Hills, Brentwood, Malibu, and near Pasadena. Homes are also worth more today than they were yesterday. He sees luxury home prices settling into what he calls a “healthy appreciation.” His prediction for the remainder of the year? “Prices are going to go up 5%. If you’re a seller, you’re still ahead of the market.” Real estate agents need perspective when it comes to comparing 2022 numbers to 2021 or 2020. He likens the past two years of record home price appreciation to “eating cheesecake every day,” he says. “It’s not sustainable. Buyers felt that prices were too high and it was too hard to buy a house. Now it’s going to be a little easier. I still think we are in a really good market right now. The only difference between this year and last year is that prices are not going up 20%.” 1005 Woodland Dr | Beverly Hills, CA, US | $ 32,500,000 | Listed by Gary Gold What about rising interest rates and their impact on luxury real estate? “Interest rates are the highest they’ve been since 2007, and it’s a dramatic increase from where we were,” he acknowledges. “But historically, rates are still reasonable. The rate increase was done intentionally to slow down the economy and put us into a recession. The Fed will do the opposite to get us out of it. Rarely have interest rates had a long-term adverse effect on luxury real estate.” He continues: “If you look at recession cycles over the last 30 years, there was only one recession where home prices dropped – and that recession was caused by the real estate market crash of 2008. In every other recession, prices went up.” Real estate is always impacted by supply and demand. “It always boils down to that fundamental economic principle,” he contends. “They’re printing more money, but they’re not printing more houses. People need to buy somewhere. They need to live somewhere. Even when you look at the worst real estate markets in history, it’s not like there was no real estate activity.” Plus, historically, inflation has had a positive impact on the real estate market because “people want to buy tangible assets as a hedge,” he adds. Like any good agent, he tempers his optimistic outlook with a shot of pragmatism for his high-net-worth clients looking to navigate a shifting market: “There’s always an opportunity to make a prudent purchase and there’s always an opportunity to make a stupid purchase, no matter what market you’re in. Buyers need to educate themselves so they can make a smart purchase.” For agents who only know the historic housing boom of the last few years and are worried about the future, he dispatches this final Gold-ism: “Your personal performance will have much more of an impact on your bottom line than the 30% of the business you might lose if the market slows down. This is the time to stay focused and bring your A-game. Make sure that you are developing sustainable skills that can carry you through different real estate cycles. You can’t rely on the slick. People need facts, not fear.” Gold’s desire to not necessarily be the loudest voice in the room, but the most reasonable voice in the room makes his decision to join the Coldwell Banker Global Luxury network earlier this year seem prudent now that the market is changing. Clients and agents may be looking to balance any uncertainty with steady leadership. A real estate brand with more than a century of history behind it fits that bill. “Coldwell Banker is a 116 year-old-brand that operates like a hot startup,” he says. “It’s where all the cool kids go, yet it has this solid foundation and meaningful history. Blue chip stock is sexy now. Look at Mercedes, Porsche, or Gucci with Tom Ford. These brands are great – not because they are building the same cars or making the same clothes as they were 100 years ago – but because they are good at what they do and are committed to evolving and staying relevant. That’s what’s happening at Coldwell Banker.”   The post Pure Gold: L.A.’s Gary Gold Gets Candid About The State of Luxury Real Estate appeared first on Coldwell Banker Global Luxury Blog - Luxury Home & Style.

By Alyson Pitarre

What Happens When Affluent Buyers Shift Their Mindset Towards Stability

Luxury Real Estate

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November 8, 2022

What Happens When Affluent Buyers Shift Their Mindset Towards Stability

After two years of YOLO (“You Only Live Once”) property buying, a change in buyer mindset is upon us, according to The Trend Report 2022 published by the Coldwell Banker Global Luxury® program. Between rising economic uncertainty, stock and crypto market volatility, climate change, and living through an unprecedented health crisis, wealthy buyers have begun turning toward opportunities that give them long-term financial security and quality of life this year. To get a better understanding of how this mindset shift is impacting the luxury property market, Michael Altneu, Vice President of Global Luxury, recently spoke to David Marine, Chief Marketing Officer of Coldwell Banker Real Estate LLC.   Michael Altneu How do you interpret this trend towards stability? David Marine I am viewing the trend through the Coldwell Banker brand’s continued understanding of the emotional aspects of property buying. During the pandemic, people were buying for emotional reasons, but a home really needed to address their family’s immediate needs – whether it was for more space, access to nature, or the health and safety of their family. Of course, these folks were searching for stability during this most uncertain period of time. The pandemic also gave others a greater appreciation for life, and they decided to follow their dreams – maybe it was buying that big dream house they always wanted or picking up and moving to the beach. What’s different about today is that buyers are not looking at real estate to fulfill their short-term needs anymore, or looking at it to solve immediate problems created by the pandemic – they are looking at it with a long-term view. “How do I create generational wealth for my family?” “Where do I want to set down roots for the next 5-, 7-, or 10- years?” Real estate has always been America’s favorite long-term investment. In a way, we are getting back to our roots. Michael Altneu There was a pretty strong stat in The Trend Report, that nearly 4 and 5 high-net-worth survey respondents think that real estate is a safe investment. Was this surprising to you? David Marine No, not at all! Wealthy individuals, in particular, have been known to consistently embrace real estate as an asset. You see this in their survey responses. Over 75% of respondents said they are planning a home purchase within the next one to six years, with more than 40% planning to move in the next one to three years. Coldwell Banker has always emphasized the value of home to our agents. A home is a place to live and your most important life investment, but it’s so much more than that. It’s an investment in your livelihood, your sense of safety and security, and of course, your family’s financial future. Another statistic that jumped out at me: in 50 markets, luxury home prices have seen an average 60% appreciation since 2017 while luxury attached home prices increased nearly 41%. This just reinforces the long-term value of real estate as an appreciating asset, and this also speaks to stability. Michael Altneu Are there other ways that the search for stability is playing out in the market? David Marine The Trend Report identified a few areas. Affluent buyers are increasingly embracing multiple homeownership. They are doing so for a number of reasons right now, including: 1) real estate is considered a hedge against inflation, 2) diversification, 3) lifestyle, or 4) generational wealth considerations. The Trend Report also predicts that traditional centers of luxury – cities like New York, Paris, London – will also be in the spotlight again as these locations tend to hold their value over time, and have maintained their reputations as safe havens for both foreign and domestic investors. Climate migrations are another consideration as people could start to seek out homes in locations that are less prone to natural disasters, such as hurricanes, wildfires, tornadoes, hail or wind events, or severe winter storms. And during this era of stability-seeking, primary properties might be held for longer periods of time. Michael Altneu Obviously we are in yet another time of uncertainty right now. What can agents do to alleviate their clients’ concerns or even calm their own anxieties about the future? David Marine First, I think it’s important to arm yourself with information. That’s why we are focused on educating agents with this report – so they can understand their clients better and how their psychologies might have subtly shifted in response to a changing world or changing economic conditions. Secondly, view any challenges as opportunities. Some clients may want to sit tight for a while since they don’t need to sell or buy. Keep the dialogue with them going even if they aren’t ready yet. Others may want a property that brings them long-term financial or physical security – but what does that mean to them? Is it an investment property? Is it a legacy home? Lastly, stability is not just about properties, but also about people. Buyers and sellers are going to be looking for real estate agents they can trust in this uncertain environment. Be that source of trusted guidance and information during this time. You could earn a client for life.   The post What Happens When Affluent Buyers Shift Their Mindset Towards Stability appeared first on Coldwell Banker Global Luxury Blog - Luxury Home & Style.

By Alyson Pitarre

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Whether her clients are buying or selling property for their own primary residence, vacation use, or investment purposes, Christine listens carefully to understand their wants, needs and wishes. She prides herself on providing clients the information they need to feel comfortable making their important decisions.

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