by Roberta Murphy Brad Inman this morning wrote an excellent article about the mortgage and real estate crisis that has gripped so many markets in the United States–and elsewhere. In The Housing Market Blame Game, Inman reports that even formerly raging real estate markets that were once seen as unshakable, such as Manhattan, are now beginning to share the pain with regions that had collapsed earlier. Many blame the real…
by Eric Murphy We follow luxury listings throughout the world, and when a home listed above $50 million hits the market, it’s NEWS by any stretch of the imagination. And San Diego is just the latest to break that barrier. Priced at $76 Million, this circa 1937 oceanfront Del Mar trophy estate sits on nearly 5.5 singular acres. The two story home has nine bedrooms and six-and-a-half bathrooms and ocean…
by Roberta Murphy Its always interesting to know how metropolitan communities stack up when it comes to median household income, and San Diego is no exception. There were a few surprises. I had no idea Carlsbad would outrank Encinitas, or that Poway would beat out Coronado. San Diego is full of surprises. When to comes to compiling such reports (and a host of others), there is no finer source than…
by Roberta Murphy Investment in high end real estate markets can be a challenge for most buyers. If the price of the real estate does not intimidate, then the low cap rate, or return on investment, will. In fact, carrying costs v income on luxury real estate investments are often negative for many years, or until the property is sold. With real estate investors in our expensive San Diego market,…
by Roberta Murphy This may arguably be the most expensive and tallest private residence ever built. Indias wealthiest man, Mukesh Ambani, 50, is slated to begin construction of a billion dollar glass and steel skyscraper home in Mumbai City, the financial capital of India. The 27 story building will be designed to house his family of six and staff of 600, with six floors dedicated to the storage and parking…
by Roberta Murphy The Butler is back in demand-and in short supply. The worlds growing number of plutocrats with their enormous mansions and expansive lifestyles are actively seeking household managers to oversee the care of their luxury homes and lifestyles. These enormous residences require ongoing care, along with coordination of property and grounds service providers ranging from pool service technicians, to dog groomers and trainers, to maids, gardeners and arborists….
by Roberta Murphy For almost two years now, there have been serious rumblings and grumblings about Option ARM and interest-only mortgages that could put a number of buyers into default. I initially gave the dicey mortgages issue detached interest, because our clients tend to be a conservative lot when it comes to borrowing. We deal with few real estate speculators and most of our clients are solid buyers of primary and secondary homes. My…
by Roberta Murphy This is an issue that should trouble many real estate professionals…. Some months ago, I met with clients and wrote an offer (at buyer’s request) that was substantially below the listed price (599,000 list price:475,000 offer). It was a rare Carlsbad, CA beach condo property with no recent comparable sales. In prior markets, I might have urged clients to target their offer into an acceptable range to avoid the risk of an…
by Roberta Murphy We list and sell real estate in good, bad and indifferent markets. Short sales are becoming common, though. So is blood in the streets. People move up, down and out all the time because life is about change and transitions. And each time the real estate market shifts, we regroup and modify strategies for buyers and sellers. There may be some inconveniences and pricing adjustments for…
Once in awhile a property comes along that will take your breath away. And that was the precise intent of an owner who had no budget, no restraint andNo Fear.You see, that visionary owner was Mark Simo, co-founder and CEO of NO FEAR and Spy Optics in Carlsbad, California as well as the TransWorld Business website that launched in 2005. Mark Simo sold this La Costa estate several years ago…
