U.S. News Names 3 Reason Why Luxury Real Estate is So Hot!

Believe it or not, we have officially returned to a time where tens of millions of dollars are once again being thrown into bidding wars for trophy properties in the most sought-after localities of the nation. U.S. News solicited the experts to reveal the driving factors behind the surge of top dollar sales and the now sizzling mega-million housing market.

1. A Safe Haven: In the eyes of affluent foreign buyers, the U.S. luxury housing market is a relatively safe depository for investments compared to Europe’s tumultuous markets.

“Even with the negative outlook . . . investors continued to flood into U.S. treasuries, driving rates of return lower.”

2. Cash Flow to Seal the Deal: High-end homebuyers are not constrained by the tight credit and mortgage issues that the majority of today’s homebuyers are facing; rather, these big-time buyers have the freedom to purchase or at least offer a significant down payment up front.

“There’s a sentiment . . . That’s moving some [would-be buyers] from the sidelines and getting them into the game.”

3. Pouncing “Low” Prices: Every buyer knows low prices won’t last for long; and when it comes to mega-mansions, buying could mean saving millions.

“Even if you’re in [the luxury market segment], prices are lower than they were three, four, five years ago.”

With incredible experience in the global luxury real estate markets and high-end auctions, the experts at Hurwitz James Company can help you find the mansion of your dreams at a surreal price; contact Hurwitz James Company in Beverley Hills at 888-681-5902.

 

The Shelter Island Estate in Montana was recently listed for $78,000,000; contact Hurwitz James Company for more details. 

luxury home sales

Source: U.S. News

The Building of the Shelter Island Estate

The engineers, architects and craftsmen of the Shelter Island Estate created a truly unique design that combines sophisticated modern engineering with timeless design details and materials. Let’s take a look at how they did this by starting inside and working our way out.

Walking through the main house of the Shelter Island Estate, you’ll notice hand-forged ironwork, detailed wainscoting, elegant corbels and grand colonnades. The effect is baronial but in an elegant and graceful manner that does not breach on gaudy. Here are just a few of the materials used inside the Shelter Island Estate that contribute to the majestic yet warm and inviting interiors.

  • African Mahogany installed by hand
  • French Limestone
  • Italian plaster
  • copper and bronze
  • Hang forged ironwork
  • Detailed wainscoting
  • Custom double pane windows
  • Vaulted, coved, domed and coffered ceilings
  • Coved lighting systems
  • Fixtures and chandeliers collected from around the world
hurwitz james company

hurwitz james company

hurwitz james company
Now, let’s step outside now to discuss the architectural structure and engineering involved in the building of the Shelter Island Estate.

The exterior of the home is hewn entirely of stone, copper, Indiana Limestone and Virginia. Architectural features include sloping roofs, dormers, copper trim, a copper conservatory addition and a large tower. The stone employed in the building of the home is actually a chief cliff stone (one of the most sought-after stone products in the industry) that is lichen-covered and native to Montana. The overall aesthetic has a charming yet sophisticated old world feel.

The estate is operated by a marvelously-engineered system that consists of an armored utility cable that carries 12,000 amps to the island and a CAT-5 computer cable and phone that are housed underground and underwater. Paired with a 1,200 foot utility building and 1,800 foot workshop, the entire system has the capacity to sustain the building of three more compounds on the island.

The Shelter Island Estate was recently listed with Hurwitz James Company for $78 million. To learn more about the estate and to schedule a showing, please contact Hurwitz James Company at 888-681-5902.

hurwitz james company

hurwitz james company

hurwitz james company

The Majestic Shelter Island Montana Estate Listed at $78M

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Sitting atop a solid granite foundation on a 24-acre island rising out of Flathead Lake, the Shelter Island Estate holds the title as the largest private home in Montana. Neighboring Glacier National Park, this estate is a truly unique gem and includes 7,000 feet of prime waterfront property on Flathead Lake, one of the top 3 cleanest lakes in the world.

The main house of this majestic Montana estate has 5 bedrooms and 8 baths with a total of over 24,000 square feet of living space, 10,000 of which is heated portico and outdoor entertaining space.

The great room boasts 45-foot ceilings and a second story full-circle gallery. On the other one end of the grand hall, the gorgeous mahogany paneled office includes a limestone fireplace and a 120-inch flat screen. The stunning copper conservatory provides expansive panoramic views to watch wildlife unfold year round. The dining room, kitchen and breakfast room features breathtaking views of the lake and vistas as well as amenities that would please even the finest gourmet chef and staff.

The master bedroom suite is the real masterpiece of the first floor complete with a black and white carrara marble master bath with large shower and steam bath, a mahogany closet with refrigerator and wrap-around portico and porch.

The architectural details, quality of craftsmanship and luxurious materials throughout the home create a living environment of unrivaled elegance and grandeur that is rarely found today. Additional amenities include a gym, wine cellar, indoor shooting range, commercial-grade elevator and gorgeous guesthouse reflecting a similar design. Residents also get to enjoy outdoor luxuries such as a world class sporting clay course, the three docking systems, a heated boat stall and 1-mile road great for walking and jogging.

To learn more about the Shelter Island Estate currently listed at $78 million and to schedule a showing, please contact Hurwitz James Company at 888-681-5902.

 

hurwitz james company

hurwitz james company

hurwitz james company

hurwitz james company

hurwitz james company

The “Facebook Effect” on California Real Estate

Since announcing its IPO, Facebook has been dominating business headlines. But California real estate professionals will confirm that Facebook has also been dominating their own conversations as housing experts try to determine the effect that this historic trading event might have on the local California housing market. As one real estate agent told ABC News in a recent report, “There’s no way there’s not going to be an effect.”

The headquarters of Facebook is located in Menlo Park, meaning the neighboring Palo Alto area is expected to see the most action as a result of the company’s public debut. Already one of the area’s hottest neighborhoods, Palo Alto is home to younger money, a vibrant downtown and excellent schools.

According to AOL, real estate professionals are preparing for new Facebook millionaires to flood the Palo Alto real estate market with a buying fervor and – possibly – a taste for luxury, unlike their frontman Mark Zuckerburg who resides in a modest bungalow. They are calling it the “Facebook Effect.”

“‘Facebook effect’– the anticipated demand for high-end housing following the company’s May IPO. Since the beginning of the year, prices have climbed more than 10 percent in Palo Alto, Calif., where the company is headquartered.”

But inventory is still low, and experts are still unsure whether homeowners are waiting for the IPO to really take off. As a luxury real estate company based in Beverley Hills, Hurwitz James Company is also curious to see the results of the “Facebook Effect,” and we want to hear your opinion. Do you think homeowners are strategically waiting? Will Palo Alto become an infamous Facebook community?

facebook effect on real estate

Photo via FreeDigitalPhotos.net

Bidding Wars on Luxury Homes in L.A. are Back

luxury real estate california A recent Bloomberg news report is delivering great news to luxury home sellers in the Los Angeles area. According to recent luxury real estate trends, bidding wars have rekindled in the prominent neighborhoods of greater Los Angeles. The news report cited wealthy localities that include Beverley Hills, Brentwood and Bel Air.

DataQuick provided property information to reporters revealing that sales of Beverley Hills homes listed at $2 million rose 11 percent to 39 closings in the first quarter compared to a year ago. In Brentwood, sales of high end homes surged 56 percent to 25 closings. Apparently, this trend is beginning to spread throughout the rest of the U.S. as nationwide sales of homes listed at $1 million and up increased by 7.2 percent just in the month of March. A Beverley Hills agent told Bloomberg that, “In the Los Angeles area, multiple offers — as many as a dozen per home — have reduced listing times for the highest- priced houses as bidders worried about losing out act faster than they have in the past two years.”

Luxury estate owners putting their homes on the market are seeing offers start to roll in on the first day of showings! And real estate experts confirmed that sales would be even higher if there was more inventory. To read more about these new luxury real estate trends, see the Bloomberg news report online

As a luxury real estate company in Beverley Hills, Hurwitz James Company has seen recent success of their own in high end home sales. At the end of last year, Hurwitz James successfully finalized the sale of the Razor home for $14.1 Million; the sale of the famous La Jolla home was one of the most expensive home sales in 2 years! To talk to a Hurwitz James Company agent about selling your own high end estate, please contact the Hurwitz James Beverley Hills office at 888-681-5902.

 

Photo by Walknboston

New Record Low Interest Rates & New Evidence of Increased High-End Home Sales

The second week of May marked the second straight week that mortgage rates have reached new record lows, according to a recent LA Times new report.

Freddie Mac told the LA Times that the average for a 30-year, fixed loan fell to 3.84 percent and the 15-year, fixed rate loan dropped to 3.05 percent. Adjustable loans with an initial five-year fixed rate also dipped down to 2.81 percent.

And according to a Boston Business Journal report which can be viewed on Yahoo! News, this may be one of the contributing factors to the latest evidence that is pointing towards an increase in high-end home sales in certain regions of the country. Lisa Van Der Pool reported in the news segment that that so far this year, luxury home sales are up about 27 percent while single family home sales are only up by about 19 percent.

Whether you are looking to lock in record-low interest rates with the purchase of a high-end home or you are looking to sell your own luxury estate, Hurwitz James Company has luxury listings worldwide as well as the luxury housing market expertise to meet your real estate needs. Contact Hurwitz James Company in Beverley Hills by calling 888-681-5902.

The Bradbury Estate in San Gabriel Valley listed at $78.8 million; contact Hurwitz James Company for more information. 

luxury estate listings worldwide

NAR Reports Pending Home Sales Are Up

We’ve been hearing it and now there is proof. The March 2012 report released by the National Association of Realtors (NAR) showed a 12.8 percent increase in pending home sales from a year ago. This positive report serves as solid evidence of a recovering housing market. The Pending Homes Sales Index for March was 101.4, which is a 4.1 percent increase from the index in February.

“An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales; it coincides with a level that is historically healthy.”

NAR chief economist Lawrence Yun concluded that these reports are an indicator that 2012 will a year of healthy healing, sustaining and growth for the housing market.

 

Investors and homebuyers looking to explore their luxury real estate options while interest rates and home prices are still at record lows can contact Hurwitz James Company in Beverley Hills at 888-681-5901.

The Wall Street Journal Reports: Vacation Home Market Heating Up

Vacation home sales are on the rise as investors realize that the incredibly buyer-friendly market conditions won’t last forever. Here is what Wall Street Journal writer Joe Light reported in a recent article.

“If you’re thinking of buying a second home in the next five years, this might be your best opportunity . . . Near-record-low mortgage rates, bargain prices and dwindling home inventories are bringing some once-untouchable markets within reach for the first time in a decade, say housing-market experts.”

As the article confirms, there is a sense of urgency to take advantage of current rates and prices that is spreading among luxury real estate buyers. While conditions are still not what they were before the housing bust, they are not getting worse, as evident by an increases sales and the return of bidding wars.

The most recent National Association of Realtors survey showed a 7% increase in vacation home sales in 2011 with California locales Napa and Santa Barbara named two of the top vacation home markets.

But as the Wall Street Journal article suggests, some real estate authorities believe that signs are beginning to appear of a bottom-price for vacation homes.

Explore the vacation home possibilities that may not be available for much longer by contacting Hurwitz James Company in Beverley Hills at 888.681.5902.


The view from the hot tub at the Cabana Verde property in Costa Rica, listed at $1.5M. 
Please contact Hurwitz James Company for more information. 

How to Stay Current in the Luxury Real Estate Market

Investors and high-end homebuyers can rely on Unique Homes and Hurwitz James Company as go-to resources for information on luxury real estate listings worldwide.

Reaching over 80 countries, the Unique Homes print and digital magazine has become an authoritative source for informative luxury real estate articles and stunning photography of the world’s most impressive properties. The Unique Homes site, which allows you to easily search listings, is also one of the most-visited luxury home websites in the industry.

Since starting in 1987, the Hurwitz James Company name has become associated with some of the world’s most prestigious neighborhoods and properties. Founder and president of Hurwitz James Company, Bob Hurwitz specializes in multimillion dollar estates and luxury residential developments and is the sole Realtor for the marketing and sales of the exclusive residential island known as the Ocean Reef Islands development.

By following Hurwitz James Company you can not only see our latest listings, but you can also stay in the know with current activity and trends in the global luxury real estate market. Here at Hurwitz James, we pride ourselves on providing a rich mix of lifestyle, listing and market information through all three of our social media platforms. But we want to hear from you, too! Join the luxury real estate discussion by following and commenting on the Hurwitz James Company blog, Facebook and Twitter.

The Most Luxurious Communities in the U.S.

For those investors looking to take advantage of low mortgage rates, resale value becomes an important consideration. An estate in a luxury community is more likely to retain value than an estate surrounded by less expensive homes. As it was chronicled in a recent luxury real estate trend report, here are the most luxurious communities according to the U.S. Census Bureau.

  • Beverly Hills
  • Brentwood
  • Calabasas
  • Pacific Palisades
  • Rolling Hills Estates
  • Malibu
  • Santa Monica
  • Rolling Hills Estates

Hurwitz James Company knows that luxury homebuyers want more than resale value, however. They want to find that special something about a luxury community that makes it stand out from the rest – be it stunning modern architecture, vintage charm, a pristine natural landscape or an equestrian’s dream.

Specializing in multimillion-dollar estates and luxury residential developments worldwide, Hurwitz James Company can assist you in finding the luxury home that has the amenities and conveniences to perfectly suit your personality and lifestyle. Contact Hurwtiz James Company at 888-681-5902 to begin searching for your dream luxury estate today.

 

View from the The Bradbury Estate located in one of the most expensive ZIP codes in America by Forbes. The estate is currently listed at $78.8 million with Hurwitz James Company. 

 bradbury estate