Keep your basement and foundations dry and safe

by Luxury Property on April 16, 2013

2013 - Chicago's wettest April on Record

2013 - Chicago's wettest April on Record

Homes with basements and cellars can be troublesome in problematic weather, and this is especially true where older, more historic, properties are involved. Foundations shift due to natural movement of the earth, and all buildings need essential maintenance from time to time. Leaving damp cellars untended can be damaging to the building as a whole, so it pays to keep things under control at all times. Anyone who suspects their basement may be in need of attention, or that their foundations are damaged, needs to seek expert help, and as quickly as possible.

One area that is always essential is basement waterproofing; this skilled and highly technical work needs to be carried out by an expert, and there are many around who can offer the help and advice necessary. The best practitioners are those who have many years of experience in the field, as they tend to be the people who have access to the latest and most appropriate methods of repairing leaky basements. The problem can be caused by many different factors and, as such, it is essential that the company doing the job tackles the right problem in the right way.

In the most serious of cases there may be a need for the installation of sump pumps; these are electrically powered pumps that are designed to remove all the water from waterlogged basements. They are installed by experts with a prior understanding of where they are best fitted and of which type may be the best one for each individual case. Pumps are used to physically drain the water from the basement or cellar; they can be switched on and off as and when needed, or simply left in constant use in the most extreme cases. These devices have evolved greatly across the years and are safe, secure and very simple to use – but do get an expert to fit it as it can be a tricky proposition. It is also worth noting that the installation of a sump pump will most likely be done alongside a new waterproofing course for the best effect.

One of the most concerning problems associated with homes and buildings is that of damaged or ill-maintained foundations. All buildings are subject to change over years, and water and the status of the land the property is built upon can lead to damaged or faulty foundations, which in turn can cause damage to a property that – if not dealt with – can be severe. In this case it is essential to seek the advice of experts with experience in foundation repair, as leaving the problem to itself can result in very expensive structural problems. The type of repair needed depends upon the cause of the fault and how severe the damage is. An expert in the field will be able to assess exactly what sort of treatment is needed.

The foundations of a house are important, and even in a minor state of disrepair can lead to exaggerated problems if left in a poor state. The same is true of wet basements, where the damp can have a lasting effect on the foundations and the structure of the building. If you suspect problems with a basement or your homes’ foundations, make sure you get expert advice as soon as you can.

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A luxury home with a billion-dollar price tag!

by Luxury Property on April 12, 2013

Worlds most expensive home in Mumbai

Billion Dollar Home in the Sky - Mumbai

Let’s face it, anyone spending a cool billion US dollars or so on a luxury home anywhere, including in India, was bound to set tongues wagging across the planet. But whether the luxury house now dominating the Mumbai skyline, dubbed Antilia, after a mythical island kingdom in the Atlantic Ocean, is actually worth the reported $1 billion or $2 billion price tag – take your pick which it is – is surely open to question, not to mention criticism.

Why the criticism? Mumbai is the most populous city in India with an estimated 20 million people and more living within its metropolitan area. Many just scrape a living, surviving on a mere $2 a day. That aside, the actual design is…err…rather unusual, shall we say, not quite the image most people conjure up when the words luxury and home are stacked next to each other in the same sentence!

But to the bare bones. The property belongs to Reliance Industries chairman Mukesh Ambani, one of the richest men in the world, and covers 400,000 square feet or the equivalent of five soccer pitches. It is some 570 feet in height spread over 27 floors and has six car parks, three helicopter pads, floating gardens, a state-of-the-art theatre and grand ballroom. Requiring some 600 full time staff to maintain it, the property’s furnishings and décor are top-to-bottom luxury, elegance and opulence all rolled into one.

Forget the design which may not be to everyone’s taste. Otherwise, just say wow, incredible, amazing and anything else you can think of. Of course, most inhabitants of planet Earth will never ever know what it’s actually like to own such a property. However, for lesser mortals there are always home loans with HSBC or some other well known multinational bank to give us a push onto the property ladder.

Meanwhile, back in the United States, there are a few luxury mansions which might give Antilia a run for its money, at least in terms of the word traditional. None is finer than the Crespi/Hicks Estate in Dallas, which is on sale at the moment for a mere $135 million.

Crespi Hicks Estate in Dallas

Crespi/Hicks Estate in Dallas

Forbes says the 25-acre estate, owned by billionaires Thomas and Cinda Hicks, sits behind wrought iron gates in the ultra elite Mayflower Estates neighbourhood. It boasts roughly 42,500 square feet of living space including a five-story main house, a two-story guest house and a three-story pool house.

The magnificent property comes complete with a library panelled in 19th-century Italian walnut and burl, a main kitchen tiled in 10th-century Dutch Delft manganese tiles, a mirrored Art Deco bar room, and an exercise room. The pool house has an outdoor living room and kitchen, an indoor catering kitchen, a massive games room, and a home theatre spanning an entire floor.

Outside in the the grounds there are two guest houses, a tennis court, several greenhouses, a tree house, rose and vegetable gardens, and a second hidden driveway entrance onto the property.

Further down the opulence scale lies the magnificent $19.9 million dream home at 490 West Paces Ferry Road, Atlanta, which is up for sale at the moment. The discerning buyer can look forward to no less than nine bedrooms, 11 bathrooms, seven kitchens, a movie theatre, a ballroom and an Olympic-sized swimming pool. The sheer beauty and design of this luxury dwelling would make even the most pious of saints turn a little green with envy. Check it out here!

490 West Paces Ferry Road in Atlanta

490 West Paces Ferry Road, Atlanta

Photo Credits
top – Vanity Fair
middle – Douglas Newby, SignificantHomes.com
bottom – Atlanta Fine Homes, Sotheby’s International Realty

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Fab Prefab: Modern and modular luxury self-build homes

by Luxury Property on April 9, 2013

Zoopla.co.uk property news author is based in London and has extensive knowledge of both UK and international property markets. Here he looks at some of the most impressive self-build homes from around the world.

Modern and modular luxury homes

It’s a page straight from Dwell Magazine: a modern, light-filled home that complements the surroundings, tucked elegantly into a London street or nestled into a rolling country dale. It’s a familiar scene in the US, Australia and Europe, but prefabricated luxury self-build homes have yet to capture the imagination of many in the UK. The Guardian recently reported that self-builds account for over half of last year’s new homes in parts of Europe, but in Britain that number was only one in ten.

Why? Land restrictions and red tape frustrate would-be self-builders, but councils are taking steps to make it easier. From urban Swindon to idyllic Devon, building codes are changing to ease restrictions and set aside land for self-builds.

Shows like Grand Designs can make self-builds look expensive and messy, but some of the show’s most successful projects have been prefab homes that were built off-site – one came together in just five days. Modern prefab homes are also amongst the chicest homes available, evidenced by their popularity in design-forward Scandinavia and publications like Dwell. Finally, by 2016 all new builds in the UK will have to comply with strict carbon-neutral restrictions, so the ultra-efficient eco-homes favoured by many prefab companies can only be a good thing – for homeowners and the environment alike.

If building your own home is too stressful, you can snap up someone else’s luxury self-build without the hassle. It’ll be a bigger investment, and may not be tailored to your tastes, but it will still have more character than most homes on the market – occasionally projects from Grand Designs even hit the market.

We take a look at the Wired LivingHome project for a bit of prefab inspiration.

The Wired LivingHome in Los Angeles

The Ray Kappe-designed Wired LivingHome in Los Angeles

Wired Magazine has paired with LivingHome for a few years in a row to create luxury prefab show homes in the US, packed to the gills with smart technology and green innovations but not short on luxury.

The first home, designed with Ray Kappe in 2007, only took three days to put together on site in Los Angeles. Wired boasts: “Wired homes use prefab construction — factory built to save on materials, reduce construction time, and allow homeowners to mix and match floorplans from renowned architects.”

The interior of the Wired LivingHome in Los Angeles

The interior of the Wired LivingHome in Los Angeles

Technical features include a kitchen countertop that wirelessly charges mobile devices and powers small appliances like toasters, kettles and food processors with nary a cord or plug in sight. Digital frames power off when nobody is in the room to save energy, and a connected system monitors energy use throughout the house. The much-discussed Internet of Things makes an appearance as well, gathering data from the gym, kitchen and bathroom scale to keep you healthy, along with discreet and top-spec air purifiers.

The Smart Home: Green and Wired is run by the Museum of Science and Industry Chicago, and opens occasionally for guided tours and demonstrations – check the website for details.

Image credits: Top image by seier+seier, bottom two by LivingHomes.

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Ski Properties – Sotheby’s Style

by Luxury Property on March 21, 2013

Canadian Ski Paradise

Canadian Ski Paradise

As the ski season opened this year, Sotheby’s launched a niche website, skipropertysir.com.
The website helps viewers locate extraordinary homes and affiliates in areas like Aspen, Whistler, and Switzerland.
See the announcement in Sotheby’s Blog

Along with the Ski Niche, Sotheby’s launched sites focusing on Ranch and Waterfront Properties.
(details located at the lower right corner of their Blog)

Is a Historical Properties site on the way?
Sotheby’s owns the URL HistoricPropertySIR.com, so it’s just a matter of time…and historical properties just get better with age.

Sotheby’s Ski Galleries:
SkiPropertySIR.com
SothebysRealty.ca

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Paris-Inspired Estate Home

by Luxury Property on March 12, 2013

 Paris-Inspired Estate Home -  Auction April 8th

Paris-Inspired Estate Home - Auction April 8th

Paris in the spring has such appeal.
So does this stunning Estate – coming to Auction April 8th from Williams & Williams.
The new owner will enjoy Parisian inspired architecture and ambience year round.
The home is quite spacious at nearly 8,000 square feet, yet warm & inviting.
The .65 acre lot is manageable…and pretty much defines curb appeal and outdoor living.
We highly recommend the 55 second Home Video found here at WilliamsAuction.com
As you can see from the video, this home has it all. Let us know what you think!

The Luxury Property Page is here – Paris-Inspired Estate Home

Tulsa-Estate-Auction-Luxury-Property-Blog-2

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Post image for Hacienda Pinilla Announces Auction to Secure New Owners, Fund Foundation

August 21, 2012 (KANSAS CITY, Mo.) – Agroganadera Pinilla, S.A., the owner of Hacienda Pinilla Beach Resort and Residential Community, Guanacaste, Costa Rica, announced today that it will offer qualified investors and developers a unique opportunity to participate in an auction of the Hacienda Pinilla to accelerate the realization of the vision for the project. Additionally, net proceeds from the newly invested capital will be used to permanently fund the operations and charitable work of Guanacaste Ventures U.S., Inc., and its counterpart foundation in Costa Rica, Fundación Progreso Guanacaste, each established by Mr. H.G. (“Pat”) Pattillo, majority shareholder of Agroganadera Pinilla, S.A., to continue the work of the foundations focused on education, healthcare and affordable housing for the people of Guanacaste.

“For over 40 years, I have been blessed and enriched by the opportunity to be part of the Guanacaste community and feel as strongly now as ever about the importance of investing in its future. As I advance in my years, it is important for me to make certain that the work of the foundations continue after I am no longer able to personally ensure that funds are available for continuation of the foundations’ operations. It is our intention to secure a new investor for the project as soon as practical so that we can build on the work of the foundations, which has included the improvement or repair of over 45 schools in Guanacaste, local medical assistance, construction of affordable housing, and scholarships for Guanacaste young people to attend universities in the U.S. It is also important that we continue to build value in the project for the benefit of those that call Hacienda Pinilla home” said Mr. Pattillo, an entrepreneur and philanthropist from Georgia.

United Country Real Estate, a premier global real estate brokerage and auction company specializing in marketing distinctive, investment grade real estate assets, has been engaged to assist Agroganadera Pinilla, S.A. to market the project to qualified investors internationally in cooperation with David Pinsel, Managing Director of Colliers International North Texas, and Patrick Duffy, President of Colliers International Houston. The property will be offered to the highest bidder subject to seller confirmation of the offer.

“The newly-renovated international airport – only a 45-minute drive from the project, with increased daily flights and passenger traffic – puts Guanacaste on the ‘short list’ for global tourists and retirees. Hacienda Pinilla is the premier established resort in the area and combines all the amenities and convenience expected of a world class destination resort community and the best of what the Costa Rican lifestyle has to offer,” said Mr. Dan Duffy, Chief Executive Officer, United Country Real Estate. “There is a reason why the developers of the popular and successful J.W. Marriott chose to build on this property. They were secure in the fact that the extensive in-place infrastructure, comprehensive permitting and extensive amenities which include a Mike Young designed 7,300 yard masterpiece 18 hole golf course, beach club and spa, fine dining, equestrian facilities, Certified Audubon International Sanctuary and world class white sand beaches would drive interest in their property … and they were right,” added Mr. Duffy. The J.W. Marriott Guanacaste Resort & Spa, located within Hacienda Pinilla, is independently owned and will not be included in this sale.

“Due to the scale of what is being offered to the market, approximately 4,450 acre master-planned and permitted communities and the unique opportunity for investors and developers to invest in a one of a kind project with exceptional infrastructure and “turnkey” operations, Hacienda Pinilla will be offered both in carefully articulated development parcels and in its entirety,” said Mike Jones, President, United Country Auction Services. “We are already receiving exceptionally strong interest in the project. With multiple beach and ocean front, golf course and mountain hotel and residential development tracts, equestrian ‘ranchette’ communities, retail and mixed-use sites there is really something for every developer serious about being part of a truly unique development opportunity in an exceptional part of the world.”

United Country Real Estate is the principal broker and auctioneer representing the seller for this offering in cooperation with Colliers International. Interested parties are welcome to visit
www.HaciendaPinillaAuction.com or call 1-800-444-5044 or 1-816-420-6253 to learn more about the investment opportunities at Hacienda Pinilla.

About Guanacaste Ventures U.S., Inc., Fundación Progreso Guanacaste and Hacienda Pinilla

Guanacaste Ventures U.S., Inc., is a private non-profit organization dedicated to improving education, health and housing in the Americas. In cooperation with its sister foundation in Costa Rica, Fundación Progreso Guanacaste, Guanacaste Ventures U.S., Inc., has provided scholarships to Costa Rican students from the region of Guanacaste for use in attending U.S. colleges and universities. The foundations were established in 2005 by Mr. H.G. (“Pat”) Pattillo, the majority shareholder of Agroganadera Pinilla, S.A. The original idea was to use profits garnered from the Hacienda Pinilla Beach Resort and Residential Community to improve the lives and offer educational opportunities of the citizens of the Guanacaste region of Costa Rica. The foundations have used these funds to build and renovate numerous schools and houses, and to fund educational and healthcare initiatives, as well as provide scholarships, every year since its inception.

About United Country

United Country Real Estate is the largest fully integrated network of conventional and auction real estate professionals in the United States and Central America. The company has been an innovator in real estate marketing since 1925. United Country supports nearly 550 offices across the U.S., Costa Rica, Panama and resort areas of Mexico, with a unique, comprehensive marketing program that includes one of the largest portfolios of property marketing websites (more than 3,000 separate sites and traffic of approximately 3 million visitors per month), multiple United Country real estate catalogs with national distribution , an extensive buyer database and national advertising of local properties that reaches more than 90 million homes per week. United Country has recently been recognized by Franchise Business Review, AllBusiness.com, The Land Report, Entrepreneur and The Wall Street Journal as one of the top U.S. real estate companies.

About Colliers International

Colliers International is the third-largest commercial real estate services company in the world, with over 12,300 professionals operating out of more than 522 offices in 62 countries. A subsidiary of FirstService Corporation (NASDAQ: FSRV; TSX: FSV and FSV.PR.U), it focuses on accelerating success for its clients by seamlessly providing a full range of services to real estate users, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and research. Commercial Property Executive and Multi-Housing News magazines ranked Colliers International the top U.S. real estate company. The latest annual survey by the Lipsey Company ranked Colliers International as the second-most recognized commercial real estate firm in the world.

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A Closer Look at Gullet House, Devon

by Luxury Property on July 23, 2012

Gullet House, Devon

As one of the world’s largest real estate firms, Savills has its share of exceptional properties. Established in 1855, Savills has grown to more than 200 offices and associates globally, making it one of the first choices for those seeking an exclusive home wherever they’re based. Some of the most luxurious properties on Savills’ books can be found in its Global Portfolio, which range from city-centre apartments in Monaco and New York to rustic chateaux in the vineyards of France.

Gullet House in South Pool, is a fine example of the range of properties Savills offers for sale in Devon and is a perfect example of the unique treasures one can find in the Global Portfolio. Located on a peninsula between South Pool Creek and Goodshelter Creek, this opulent Arts & Crafts offers complete waterfront seclusion amid 45 acres of magical British countryside. The 9,000 sq ft main house, inspired by the designs of Gertrude Jekyll and Sir Edwin Lutyens, is sheltered both from the public and the prevailing winds by the hillside it is built into.

It features seven bedrooms and five bathrooms, including a three-room master suite, a
kitchen, staff flat and four reception rooms. The biggest highlight for those who really like to
entertain, however, is the 3,000 sq ft Home Barn at the rear of the house, which is appointed
with a 47 ft ballroom, beamed ceiling, minstrel’s gallery and a huge open fireplace. The
formal gardens surrounding the property provide a vantage point for enjoying the waterfront
view, while a walled cutting garden at the rear also provides cover for the swimming pool.

The estate itself runs to another six cottages, two sets of farm buildings and an old creamery,
a legacy from the time Gullet House was home to a sizeable dairy herd of Ayrshire cows.
Boating enthusiasts are also indulged by a private jetty and boat house, with a leased
foreshore included with the estate. The land rises up to 260 ft above sea level in some parts,
affording some superb views of the creeks and surrounding Devon countryside.

Although properties like Gullet House are typically in a class of their own when it comes
to market forces, it is reassuring to know that Devon – and the South Hams in particular -
consistently ranks as one of the UK’s most desirable places to live. A mixture of unspoilt
countryside, a relaxed pace of life and excellent estuaries for sailing and yachting means
there will always be interest in well-appointed Devon homes like Gullet House.

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Property Values and Picturesque Properties in the UK

by Luxury Property on June 13, 2012

The United Kingdom has a long and rich history of luxury homes. From the countryside to the centre of London, luxurious properties are both abundant and incredible. Country estates range from historical abbeys and castles to new constructions in gentrified areas, making the UK countryside home to some of the most magnificent estates in the world.

The larger trend of gentrification in the UK, and specifically outside of London, harkens back to the gentry itself. Historically the gentry owned multiple homes that covered a range of needs, the country estates that offered respite and grandeur and the city homes that provided access to culture and society. Modern society in the UK often prioritizes one over the other in terms of property ownership but the new trends in the luxury market have bridged the gap between these two worlds and luxury properties have led to the cultural development and gentrification of smaller towns throughout the country.

Picturesque natural beauty has become one of the most significant factors in real estate value in recent years. Around the UK areas like the Solway coast, the Northumberland coast, Kent Downs, the Forest of Bowland and Surrey Hills have seen substantial and consistent rises in property values over the last few years indicating that luxury properties set in such incredible natural surroundings are a sound and significant investment.

The areas in and around London boast some of the most impressive private real estate in the world and new areas are being developed all the time. The town of Ipswich in Suffolk is one such destination and features some of the UK’s most beautiful luxury properties. From its gorgeous waterfront on the river Orwell to its spectacular and serene countryside, Ipswich offers a magnificent backdrop for everyone in the luxury property market.
Click here for more info on property for sale in Ipswich.

Homes for sale in the Ipswich area range from renovated carriage houses and farms to new construction, while the gentrified downtown area of Ipswich features a collection of galleries and restaurants that cater to the cultural interests and domestic needs of every resident in the luxury property market. Those in the market for upscale homes no longer need to sacrifice the class and culture found in London to live outside of it.
Find more about the latest property news in the UK at Zoopla.

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Premium Luxury Domain Names for sale

by Luxury Property on May 8, 2012

For more information, please email
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For a complete list of available Domains, please visit
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Jumbo Loans, an introduction

by Luxury Property on April 23, 2012

For the most part, a jumbo loan is the same thing as a traditional loan. As the name implies, it is a larger loan than is traditionally given out. Across the country, Fannie Mae and Freddie Mac buy up the majority of residential and commercial loans issued. When the loan is too large for them to buy up, the mortgage brokers list it as a jumbo loan. As loans increase in size, the risk that is associated with them increases. Although Fannie Mae and Freddie Mac normally try to buy out loans to free up capital in the market, the added risk makes it impossible with this specific class of loans.

Setting the Limits

Fannie Mae and Freddie Mac operate as government-backed mortgage brokers. As the main purchasers of mortgage loans on the market, they set the limit for how high mortgages are before they are listed as jumbo. Since a $50,000 loan and a $5 million loan carry a different set of risks, the terms offered are different. In 2010, any loan that was over $417,000 was listed as a jumbo loan officially. In certain parts of the country, the higher price of land and cost of living push the limit up to $625,500. The specific areas the higher limit affected were the Virgin Islands, Hawaii and Alaska. A loan that is higher than these limits carries a much higher interest rate and requires a larger down payment. When the economy fluctuates, the limits for jumbo loans will change as well.

Higher Interest Rates and Higher Costs

Jumbo loans tend to have a higher default rate than traditional loans. To help mortgage companies leverage the risk, the jumbo loan must carry a higher interest rate. In recent years, lenders have also chosen to develop more stringent policies to protect their business from added risk. These stricter lending guidelines make it more difficult to get a jumbo loan, but also serve to drive down the interest rate.

Another way lenders try to protect their institution from risk is by raising the down payment requirement. For smaller loans, borrowers with good credit often only pay 5 percent of the loan amount or less as a down payment. With jumbo loans, the borrower pays at least a 20 percent down payment to secure the loan. Generally, a lender will also look for borrowers who have consistent, high incomes as well as at least a 720 on their credit score.

Why is There More Risk?

Jumbo loans are not just risky because of the money amount loaned out. These high-dollar loans carry other risks as well. Most jumbo loans end up buying property like luxury homes that are out of the price range of a normal consumer. If the loan is defaulted on, it can take months and years longer to sell than cheaper properties to sell. As the bank waits for the foreclosed on house to sell, the property value gradually drops as the years go by.

If a borrower runs into economic troubles and needs to refinance, the process is much more difficult with jumbo loans. Logically, it costs more to close the loan because of its high-dollar value. Borrowers are unable to refinance their loan and simultaneously unable to afford the one they have. Over the course of a few months, the borrower may start to fall behind on mortgage payments. If this happens, the lender is still stuck with trying to sell a foreclosed on house.

The higher value of the loan is not just a risk to the lender; the borrower stands to lose as well. When home prices fluctuate with the market, a luxury home owner will suffer a higher-dollar value loss when the economy takes a tumble for the worst. On the bright side, if the economy improves, the owner of the residential or commercial property can potentially make money off of their investment.

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