This Way to the Beach: Homes Next to Ocean Topped Priciest Sales


But total for 5 most expensive trades in LA last week was still 18% below previous week’s tally

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Coastal living appears to be on the minds of many wealthy Los Angeles homebuyers.

All but one of the five most expensive sales last week involved properties within walking distance of the water. But proximity to the beach did not translate to sky-high prices. The five sales totaled 7.9 million, far below the 6.2 million from the week before.

Four of the homes on the list were recently-built. They are in Malibu — the priciest on the list — Santa Monica, Manhattan Beach and Ranchos Palos Verdes. The only one constructed before 2010 is in Long Beach. It was built in 1927.

The list was compiled with data from Redfin and other sources for deals closing between June 23 and June 29.

 

6156 Ramirez Canyon Road | Malibu | 4.5M

This new construction home is on 4.4 acres. The 10,000-square-foot main home has six bedrooms, eight bathrooms, and a wine cellar. The sale comes out to ,445 per square foot. The home was built in 2018 and immediately listed; the sale was its first. There is a separate guest house on the property with a kitchen. The backyard had a pool and the usual amenities, like a patio and fire pit. There’s also direct beach access. Eytan Levin of The Address had the listing. H. Blair Chang with the Agency represented the buyer.

 

20 37th Place | Long Beach | .3M

This Spanish-style compound sits on 1.3 acres behind a gated entrance near the Belmont Veterans Memorial Pier on the southeast side of Long Beach. The home was built in 1927 and spans just under 7,700 square feet with three bedrooms and five bathrooms. There’s also a separate pool house. The sale came out to 43 per square foot. Jordan Cohen with RE/MAX One represented the seller, while Kevin Cordasco with Core Real Estate Group brought the buyer.

 

718 10th Street | Santa Monica | .9M

This recently-built home squeezes 6,327 square feet of living space onto a lot just over 7,500 square feet. There are six bedrooms and six bathrooms. The kitchen and living room on the ground floor link to the backyard through a wide floor-to-ceiling entrance. The lower level has a home theater and a yoga room. The sale came out to ,084 per square foot. Matthew and Joshua Altman of Douglas Elliman had the listing, while Dean Mandile with Sotheby’s International Realty represented the buyer.

 

328 19th Street | Manhattan Beach | .9M

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This 4,107-square-foot home was designed by local architect Jon Starr and completed in 2010. The five-bedroom and five-bathroom house sits on a lot under 2,700 square feet so the floor plates are small, but it makes up some of that space vertically, rising three stories. The sale figured out to ,199 per square foot. The beach is less than a thousand feet away. Christina Brown and John Brown of Vista Sotheby’s International Realty shared the listing. Lynn Range, also of Vista Sotheby’s, represented the buyer.

 

32009 Cape Point Drive | Rancho Palos Verdes | .3M

This newly-built 6,149-square-foot home is on the south side of the Palos Verdes peninsula. The home is part of a neighborhood of new construction properties just outside the Trump National Golf Club. The sale comes out to 99 a foot. Joe Alessi with RE/MAX Estate Properties had the listing. Veronica Topete with Realty Masters & Associates represented the buyer.

 

This article was originally featured on The Real Deal

We Raised the Bar… Again


In 2019 we raised the bar again, reaching 14 billion in global sales volume, and more than 1,000 offices in 70 countries

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A Contemporary Home In North London Asking Some 0 Million Aims To Beat Bearish Brexit Mood


 

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Healthfield House in London’s Highgate asks 2 million

On the eve of a general election in the United Kingdom that will almost certainly impact the direction of Brexit as well as London’s property trends (which had been on the decline), a home in the north of London is remaining bullish on finding a buyer.

Located in Highgate, with unobstructed views of the popular Hampstead Heath park, this ten-bedroom house called Heathfield House sits on two acres of land (rare for being so close to the city) and is asking £40 million (approximately 2.5 million USD). Highgate has been home to a few celebrities, including Kate Moss, Jamie Oliver and Jude Law, and is also the location of the largest private home in London—a 90,000-square-foot palatial spread called Witanhurst.

Single-family homes prices here average about £3.5 million (approximately million) so Heathfield House is the highest asking on the market by far. The home belongs to Aleksandr Bronstein, who made his wealth in the metal industry and is the chairman of the Solway Investment Group, with mines around the world that largely focus on nickel.

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Overlook

The modern design of the homes relies on curved walls and sculptural elements, such as a dramatic staircase and mullioned floor-to-ceiling windows to create a contemporary look. The home also comes with a glass elevator and many reflective surfaces to add to the shimmer factor. Here walls lined with fabric complement the mirrors on the stairwell.

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Mirrored Stairwell

A one-of-a-kind art installation hangs over the dining room and provides a way to bounce light around the double-height room from the lighting fixtures concealed behind the display.

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Dining Room

An indoor pool looks out on to the backyard.

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Pool

Next to the pool are the these futuristic lounge areas with porthole windows reminiscent of spaceship and recessed lighting that looks like stars in the sky.

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Pool Lounge

The home also comes with a curved indoor pool that opens out to the landscaped grounds, a tennis court, billiards room, spa, home gym and separate guest house measuring about 4,400 square feet.

The listing is jointly held with Sotheby’s International Realty and Knight Frank.

 

This article was originally featured in Forbes

 

10 waterfront homes you have to see and will want to buy!


Forget once-a-year trips and island locales. These waterfront homes are so swoon-worthy—it’s as if you’re on holidays for good.

imagereader-6-15541338621. WELIGAMA, SRI LANKA

Eraeliya Villas & Gardens is set in a spacious oceanfront palm-shaded garden on a secluded beautiful sandy beach. The property includes five villas, an infinity swimming pool, staff house, spa, and library.

SEE INSIDE THE PROPERTY

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2. ROATAN, BAY ISLANDS, HONDURAS

Fort Morgan Cay is a gorgeous 32-acre private island located in Port Royal, a protected harbor on the eastern side of Roatan, one of the bay islands of Honduras. The home includes a large open-air dining area, eight bedrooms—each with an en-suite bathroom—an expansive pool deck and terrace, as well as a boat house and four boats.

SEE INSIDE THE PROPERTY

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3. TURTLE TAIL, TURKS AND CAICOS ISLANDS

This ultra-private six-bedroom estate is situated on one of the island’s highest points with breathtaking 270-degree views of the Caicos Banks. Anchored by the “Beach Club,” the customized, private and protected beach and lagoon, the stunning property also includes a waterfront gazebo, dining and bar pavilion, antique Balinese daybeds, cut stone viewing deck and jet ski dock area.

SEE INSIDE THE PROPERTY

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4. BANDON, OREGON

This elegant, secluded estate north of Bandon Dunes Golf Resort is surrounded by fragrant gardens with unparalleled panoramic views from every room.

SEE INSIDE THE PROPERTY

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5. SYDNEY, AUSTRALIA

Designed by London-based architects Walters and Cohen in collaboration with Sydney-based architects Collins and Turner, this stunning contemporary residence boasts an open-plan upper level with large living, dining, study, TV areas and gourmet gas kitchen. The lower level has a huge main bedroom (with dressing room and en-suite), second big bedroom (with en-suite), third bedroom or studio/workshop (with en-suite powder room), laundry, plant room and three-car garage with internal access.

SEE INSIDE THE PROPERTY

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6. PALM BEACH, FLORIDA

Secluded on 1.4 gated acres in Seminole Landing, this estate is one of understated elegance and Caribbean inspiration. On the upper level, the master suite is a peaceful aerie with his-and-hers baths, three fireplaces, a walk-in closet, and a balcony for enjoying the sights and sounds of the Atlantic. Each of the four uniquely stylish guest bedrooms includes an en-suite bath and walk-in closet, while the lower level offers a temperature-controlled wine cellar, a theater, a fitness center, a catering kitchen, and a four-car garage.

SEE INSIDE THE PROPERTY

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7. BRITISH COLUMBIA, CANADA

A unique 10-acre headland with 1,620 spectacular linear feet of shoreline, this home is located within a microclimate on the sheltered shores of Becher Bay and protected by Wolf Island. The five-bedroom residence was designed by Keith Baker and includes a private dock, which provides a launch pad to some of the most coveted sports fishing grounds on the West Coast.

SEE INSIDE THE PROPERTY

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8. SWAMPSCOTT, MASSACHUSETTS

This stunning oceanfront masterpiece boasts sweeping water views from virtually every room. With six bedrooms, five full and three half baths, the residence has the architectural details of a bygone era with the modern amenities of today’s discerning buyer.

SEE INSIDE THE PROPERTY

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9. MANHATTAN BEACH, CALIFORNIA

This strategically designed home captures awe-inspiring views and maximizes privacy, making it the paradise you’ve been looking for. An impressive entry leads you into the main living area and an expansive balcony with mesmerizing ocean views. Dramatic floating stairs offer access up to private bedrooms, including a dreamy master suite with fireplace and a guest suite. Other additions include a circular bar, hot tub, limestone deck with built-in BBQ, fireplace and a sparkling wall of Nana doors.

SEE INSIDE THE PROPERTY

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10. BOLINAS, CALIFORNIA

Nestled in Monterey Cypress, this singular home is built in harmony with its environs and invites you to move fluidly between outside and in. The central home is held by an art studio above and a guest residence below with decks, garden, nooks, and vistas for every time and mood.

SEE INSIDE THE PROPERTY

 

This article was originally featured on ELLE Decor.

A look into 2019 housing trends!


 

The real estate landscape currently has a big affordability issue. With low inventory, record-high home, and rental prices, and rising mortgage and interest rates, it’s tough out there for renters and buyers.

Zillow Group amasses a lot of data from its users, and their yearly reports on consumer housing trends give key insight into the current market and consumer behaviors.

RENTING TRENDS

According to Zillow Group’s 2018 Report, renters are affected by affordability issues. Renters are paying 29% of their monthly income on rent, and nearly half of renters couldn’t accommodate an unexpected ,000 expense. 78% of renters who move experienced a rent increase before their move and two-thirds of that number moved because of the rent increase.

Today’s renters are typically single, but 79% live with others. Safety is their top priority when choosing a place to live, and living in a racially and ethnically diverse neighborhood is also important.

HOME BUYERS

Lack of affordable inventory also affects home buyers and sellers. There aren’t enough affordable starter homes on the market, which means that first time buyers are competing with repeat buyers for the same homes. Buyers are also concerned with rising mortgage and interest rates. This affordability issue makes homeowners hesitant to sell, which further impacts the inventory. 45% of homeowners still live in the first home they purchased and the majority (83%) have no plans to sell in the next three years.

Millennials account for the largest group of home buyers at 42%. Many of them are new homeowners, so it’s not surprising that three-quarters want agents who can guide them through the entire process. They are also more involved in the selling process and are more likely to take on some aspects themselves, such as promoting the home on real estate sites or photographing the home.

RENTING YOUR HOME

While 96% of homeowners don’t rent out their home and don’t intend to, Zillow predicts a change to that trend. 24% of homebuyers say that it’s very or extremely important to be able to rent out a portion of their home, and 27% say it’s very or extremely important to be able to rent out the entire home. Future homeowners seem likely to rent out part or all of their property.

Currently, those who have second properties are renting. 18% of homeowners have additional properties, and 38% of them rent out their said property.

This shift will hopefully help the inventory of rental properties.

Overall, both renters and homeowners are affected by a lack of affordable inventory. Without more inventory and comparative wage growth, the market is stagnating. People are staying in their first homes longer, and are more likely to move due to rent increases. At the same time, those who do go through with buying a home are immensely satisfied with the result.

 

This article was originally featured on Sky Advertising.

The suburbs are seeing more Millennials moving in, why?


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Millennials are often described as preferring metropolitan urban cores. But current statistics show millennials—especially late millennials—are moving to the suburbs at increased rates. This trend becomes more pronounced if you isolate millennial homeowners; as CNBC reported in November 2018, “41 percent of millennial owners opt for suburbs over cities, small towns, or rural areas.”

So why the gap between perception and reality? Part of it has to do with how development was skewed heavily towards metropolitan areas following the 2008 financial crisis. Since the housing market had collapsed, renting was far and away the only option for young professionals, who were, at the time, flocking to cities because of their comparatively better job prospects. This is what leads to the trope of millennials as decidedly urban dwellers.

REASONS FOR THE SUBURBAN SHIFT

In many ways, millennials are beginning to resemble their parents’ generation in terms of where they choose to live. The main reason why millennials are moving to the suburbs is affordability. As Zillow noted, the per-square-foot value of homes in the suburbs compared to in urban areas has increased dramatically and is poised to continue to grow.

Today, only 40% of millennials are homeowners; however, they’re starting to buy homes at a higher, but slower rate compared to previous generations. Millennials are choosing to rent for longer periods of time mainly due to two exacerbating factors: the crushing burden of student loan debt and the high cost of homes. Debt prevents students from building good credit, saving for a down payment, and getting a mortgage.

So, they continue to rent. Urban centers are faced with a lack of affordable housing that, in some locations, has reached crisis proportions. Millennials have turned to the suburbs for cheaper rents and more space. As RentCafé reported in 2017, “rents are cheaper in the suburbs than in cities in 18 out of 20 metro areas,” with the suburbs of Atlanta, Phoenix, Riverside, and Tampa seeing the highest percentage of renters between 2011 and 2015.

Lastly, millennials are gravitating to the suburbs because they have more pricing diversity. As urban cores have become overbuilt, most of the new units being built are high-end condos, as opposed to affordable options. On the other hand, the suburbs have units available for rent and purchase at many different price points.

WHAT CHALLENGES WILL THIS POSE?

As current trends are projected to hold, millennials will continue to gravitate to the suburbs. Since the economy is in a strong place overall, real estate professionals are optimistic that millennials will begin buying homes at higher rates, hopefully catching up to past generations.

Developers did not anticipate that millennials would feel this predilection towards the suburbs. Some real estate professionals are antsy that they won’t be able to keep up with demand because, in some suburbs, homeowners have blocked developers from building up and building out.

There also remains underlying concerns about the infrastructure of America’s suburbs. f these challenges can be anticipated and faced head-on, real estate professionals stand to benefit from the millennial turn towards the suburbs. High-end luxury markets are set to flounder as the urban affordability crisis worsens. Suburban developers and real estate professionals could gain from this trend by offsetting the burden and enticing would-be urban renters/homebuyers with suburban apartments with excellent amenities.

 

This article was originally featured on Sky Advertising

Sotheby’s International Realty® Brand exceeds record 12 billion in global sales volume for 2018


Sotheby’s International Realty Affiliates LLC today reported that in 2018 its affiliated brokers and sales professionals achieved more than 12 billion USD in global sales volume, the highest annual sales volume performance in the history of the brand. Additionally, 27 affiliated companies surpassed billion USD in sales volume in 2018.

“Experts predicted that 2018 would be a slow year for the global real estate market,” said Philip White, president and chief executive officer, Sotheby’s International Realty Affiliates LLC. “Despite the forecast, our talented affiliated companies and their sales associates continued to perform at the top of their game to drive a year-over-year sales volume increase that is truly remarkable. We are going to keep the momentum going in 2019 and we will continue to empower the Sotheby’s International Realty network by offering innovative products, tools, and research to provide best-in-class service.”

Global Growth

The Sotheby’s International Realty brand also reported growth across its global network. At year-end, the network totaled more than 990 offices in 72 countries and territories and more than 22,500 affiliated sales associates worldwide.

In the United States, the Sotheby’s International Realty brand achieved more than 00 billion USD in sales volume in 2018. This year witnessed continued significant growth by the brand’s existing affiliate companies through talent attraction as well as mergers and acquisitions. Most notably, the brand increased its market presence in Essex and the Acton-Boxborough area of Massachusetts; Greater Portland, Oregon; and Nashville, Tennessee. The brand also entered several key new markets last year, namely, Bandon, Oregon; Huntsville, Alabama; the Sandhills Region of North Carolina; Mendocino, Fort Bragg, and Ventura, California.

Outside the United States, the Sotheby’s International Realty brand achieved more than 2 billion USD in sales volume in 2018 while continuing to expand into key markets. In Europe, the brand grew its presence in Menorca and Madrid, Spain; Sylt and Bern, Germany; Kitzbühel, Austria; Zurich, Switzerland; and Slovakia. The brand also sold the rights to the island country of Cyprus. In Asia, new offices were opened in Colombo, Sri Lanka; and Bangkok, Thailand, and agreements were signed to expand into Jakarta and Bali in Indonesia, and Ho Chi Minh City and Hanoi in Vietnam and the Maldives. The brand also saw growth in Mexico City, Mexico; the Metropolitan area of Puebla; Valle de Bravo and Malinalco in Estado de Mexico; and Cuernavaca and Tepoztlán in Morelos.

Marketing Innovation

2018 was an impactful year for the brand with the roll-out of new tools and offerings. Sotheby’s International Realty became the first real estate brand to launch and implement a virtual staging augmented reality app, transforming the home buying and selling experience for sales associates and consumers with the launch of Curate by Sotheby’s International Realty℠. Design Vault, a cloud-based ad-builder tool was also unveiled, allowing companies and agents to create advertising, marketing and social assets with ease. The brand entered a custom-publishing relationship with The Wall Street Journal / Barron’s Group to present RESIDE®, a bespoke luxury lifestyle magazine providing affiliate companies around the world a turnkey solution to creating a customized, branded magazine. The publication’s inception also birthed the brand’s new podcast series. In partnership with Inman, an exclusive channel called Leading in Luxury was launched, featuring experts from the Sotheby’s International Realty brand discussing trends, best practices and innovations in luxury real estate.

“As much as it was revolutionary, 2018 was also an affirmative year for the brand,” said Kevin Thompson, chief marketing officer, Sotheby’s International Realty Affiliates LLC. “The Sotheby’s International Realty brand has always stood at the forefront of innovation in the industry, but we recognize that in order to maintain this standard, we need to continue to press forward. With the launch of new technology and tools, we continued that tradition, always aiming to provide industry-leading levels of service that sales associates affiliated with Sotheby’s International Realty around the world are known for.”

The Sotheby’s International Realty brand website, sothebysrealty.com, saw another record year with more than 30 million visits, a 13 percent increase year-over-year, with 13 percent of traffic generated from new users. Top searches on sothebysrealty.com in the United States included New York, New York; Malibu, California; and Los Angeles, California. Outside of the United States, the top locations searched were London, United Kingdom; Paris, France; Dubai, United Arab Emirates; Lake Como, Italy; and Sydney, Australia.

Additional Achievements

The Sotheby’s International Realty brand’s affiliated companies and sales associates raised nearly million USD to date for New Story, the brand’s charitable partner and a certified 501(c)(3) non-profit organization. The funds raised have gone directly to the construction of new homes in Morelos, Mexico for families who lost their homes in the 2017 earthquakes.

“It was awe-inspiring to visit the families in Mexico whose lives will be forever changed by the generosity of our network,” said White following a recent trip to visit two recently constructed communities in Mexico. “Partnering with New Story as a charitable partner allowed us to extend the services we provide daily: to help people discover homes that allow them to live their best life.”

The Sotheby’s International Realty® brand claimed 40 of the top 250 sales associates in the Individual Sales Volume category of the 2018 REAL Trends/The Wall Street Journal The Thousand.” In addition, 12 teams affiliated with the Sotheby’s International Realty brand were recognized as being among the top 250 teams in the nation by sales volume. The annual report ranks America’s top 1,000 residential real estate agents and teams based on 2017 annual sales volume and transaction sides.