The Real View

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Are Buyers Liars?

Crossed fingersI attended a San Diego real estate luncheon last week and was handed a booklet with identical questions posed to agents--along with their printed answers. The questions were solid and most of the answers made sense. But I nearly choked on a piece of broccoli when I read this statement from a well-known agent in our area:

"Buyers are still and always will be liars. Don't talk about all the details of our business with people."

In our real estate practice, we work with a number of buyers (which our sellers appreciate) and are dismayed that any real estate professional could make such a statement. With very few exceptions, our buyers are terrific. Most are candid and open and we do everything possible to honor and live up to such levels of trust.

And we are not alone. Most agents we know respect their buyers and work very hard to represent their best interests. But the old "buyers are liars" is a tired rhyme that still makes the rounds and I am inclined to think that you get what you expect. And if you expect the world to betray you, it will.

Most bothersome, though, is the admonishment to not "talk about all the details of our business with people." I beg to differ, because the details of our business are usually the business of our clients. They want and deserve to know what is going on with their transaction, what to expect, and anything else that strikes their fancy.

Somehow, I wish those statements and others like it could be torn from the pages of every sales playbook. 

Prestige Index: Los Angeles

LA SkylineWith a drumroll, let’s reveal and discuss the results of First Republic Bank’s Prestige Index for Los Angeles, California. An earlier article about San Diego’s Prestige Index offered some interesting data. Hopefully the report on the Los Angeles luxury home market won’t disappoint!

As might be expected, the pace of luxury home appreciation in Los Angeles has cooled somewhat, but is far from being in the tank. The report reveals that at mid-2006, the average price for a luxury home in Los Angeles stood at  a record $2.29 million—a $253,000 increase from a year earlier. That’s a healthy 12.4 percent increase (What bubble???). The rate of increase in the luxury home market, though, appears to be slowing.

Los Angeles homes in marquee locations, says the FRB report, remain in hot demand, Rodeo Drivebut the lower end of the luxury market has slowed here as in other California markets. That bottom segment of the luxury market reflects homes priced from $1.5 to $3 million. Rising interest rates are blamed on the slowdown in that price range. 

Real estate in this luxury home study represent properties from the upscale areas of Arcadia, Beverly Hills, Calabasas, La Canada Flintridge, Encino, Los Angeles, Malibu, Marina del Rey, North Hollywood, Pacific Palisades, Pasadena, Playa del Rey, Santa Monica, Studio City and the pricey West Los Angeles communities of Bel Air, Brentwood and Westwood.

Also read:

The Prestige Home Index

United States a Bargain for $1 Million Homes?
San Diego Luxury Homes—and More
Insuring Luxury Homes
Breaking All Barriers: Luxury Homes Reach Nine Figures
And Just What is a Luxury Home?

 



Underwater Cell Phone

I used to joke about needing a cell phone implant that I could answer with the twitch of a nose. That way I wouldn’t have to play hide and seek with my phone—and jump out of the shower when I hear it ringing.  (It’s really not that bad these days. I am a recovered celloholic who only occasionally relapses). Fujitsu Genies, after three long years of research,  have come out with an amazing phone that is not only waterproof, but can ring underwater.

 This slim .7–inch  Fujitsu F703i can be held three feet underwater Washphonefor 30minutes and  offers a 2.2–inch QVGA TFT LCD, a decent 1.3 megapixel camera and a .1 megapixel internal camera for video calls. Have a dirty phone? You can now wash it! Given the times that my cell phones have gotten that tell-tale internal red dot that reveals water exposure, I am thinking that a washable phone should be a must. A big thanks for this find goes to the SciFi Blog:

http://blog.scifi.com/tech/archives/2007/02/01/waterproof_phon.html

Montana Real Estate Coup?

Magnificent Montana may come to be known as the land of Big Skies and Big Spenders.

Yellowstone CLubLuxury Clues’ Bernice Ross  reports a new entry in the Billionaire Poll: Lumber and land baron Tim Blixseth.  His prime Yellowstone Club 53,000 square foot home in Bozeman, Montana will be entering the high end luxury home market at a record-breaking $155 million. Being promoted fully furnished, this ten-bedroom mountain estate boasts an indoor-outdoor swimming pool, a theater, and a gondola to Yellowstone Club’s coveted ski areas.

Private and exclusive Yellowstone Club (with it’s to-die-for Private Powder skiing) boasts a membership list that reportedly includes Bill Gates, Comcast’s Stephen Burke and a host of other financial luminaries.

If he were so inclined, perhaps Mr. Blixseth could work out an exchange of his property with Donald Trumpand his $125 million Palm Beach estate. And of course, there is always Saudi Prince Bandar bin Sultan’s 95–acre Aspen prize, the Hala Ranch. For additional reading about these and other world-class luxury estate offerings, see:

Breaking All Barriers: Luxury Homes Reach Nine Figures

Prestige Home Index: San Diego

Luxe bedroom by the seaFirst Republic Bank has created the first statistical model-The Prestige Home Index-that measures changes in home values in excess of $1 million in key California markets. What are some of the common features of these indexed homes? They have at least 3000 to 6000 feet, three to six bedrooms and three to six bathrooms, according to the study. Many are substantially larger. Digested reporting of this index would probably too hefty for one blog. Instead, we'll turn it into three shorter ones.

Today's focus will be balmy and palmy San Diego County in Southern California-with emphasis on the tony towns and zips of Rancho Santa Fe (92067), La Jolla (92037) and Del Mar (92014).

First Republic reports that the average luxury home in San Diego is a record $2.18 million at the end of 3Q 2006.  First Republic's Luxury Home Index additionally reports that San Diego luxury home values may have risen 1.9% from the second quarter of 2006, but year-over-year increases have been declining for the past six quarters. Sales may be a bit slower in upscale Rancho Santa Fe than they are in the coastal communities of Del Mar and La Jolla. That may be because many second, third and fourth vacation home buyers demand ocean proximity. Still, the $8 million-and-up luxury market is reported to be strong not only along the Pacific beaches, but more inland as well.

Independent  Sandicor MLS research reveals some interesting numbers for Rancho Santa Fe. There are currently 181 active lisitngs ranging in price from a low of $1.5 to $40 million. There are 20 sales pending, ranging from $1.5 to 6 million, and 47 sales closed clustered at and below the $3 million mark. A cursory review of the numbers might indicate that Rancho Santa Fe (92067) is recovering from quiet 2006, when the bulk of sales in that luxurious zip code were huddled at the lower end.

La Jolla oceanfront $12 MCoastal La Jolla (92037), which is more populous than Rancho Santa Fe, has fewer active MLS listings with only 146--ranging in price from $900,000 to $22 million. There are 36 sales pending ranging from $990,000 to $5 million, and 129 sales recorded in the last six months. Prices ranged from $700,000 for a tiny town cottage (pictured) to $12 million for an oceanfront Camino de la Costa residence (left). Sales are obviously more brisk by the coast.700k La Jolla cottage

Beachy and quaint Del Mar (92014), with a resident population of less than 5000 people, has 71 active listings in the MLS at this writing, ranging from $800,000 to $50 million for an exquisite beachfront home. Pending sales number 14 from a low of $799,000 to a high of $4.7 million. Closed sales reported for the last six months number 53, and range from $715,000 to $6 million.

These are not the only San Diego communities with multi-million dollar price tags. Luxury properties included in FRB's index came from the upscale cities of Carlsbad, Coronado, Del Mar, Encinitas, La Jolla, La Mesa, Poway, Rancho Santa Fe, San Diego and Solana Beach.

To search San Diego Real Estate and MLS:

SanDiegoPreviews.com

How to Hide the Bedroom TV

A television on display in a well-appointed master bedroom? Banish the thought!

Mk1-underbed-liftIt is a bedroom appliance never seen in home decor magazines, model homes or in Feng-Shui-directed abodes. At the very least, bedroom televisions are hidden in cabinets because sleeping areas are seen as sacred sanctuaries and spaces. Yet, how many of us watch television-while in bed-and wish we could totally hide the evidence?

MK1 Studio has been slaving for a decade to develop their underbed Television Lift. According to their site, a 50 inch panel with amplifiers, DVD and VCR players, subwoofer and seven channels of surround sound can be totally concealed beneath a King-sized bed. Queens will accommodate a 42 inch panel with all the same accessories as the King.

How long does it take to deploy? Only 45 seconds from the time you touch the button. Moreover, the screen can be swiveled so that it can be viewed from outside the bed.

Still not a believer? Watch the video:

 See the Underbed Lift in action.

For San Diego Real Estate:
http://www.SanDiegoPreviews.com