Aug 18, 2014
A mansion with your Rolls?
(JERICHO, NY) Looking for a $12 million mansion that will go nicely with your $475,000 Rolls-Royce Phantom Drophead coupe? You’re probably too busy making money to shop for both an ultra luxury car and multi-million dollar mansion. Unless, of course, you can do it in one stop. The New York Times reports that Shawn Elliott Luxury Homes and Estates will open next month inside Rolls-Royce Motor Cars. Likely the first pairing of real estate office and car dealership in the country, it allows superluxury car shoppers to view Elliot’s roster of $5 million-plus listings. See something you like? You’ll be driven to your viewing in a Rolls-Royce. As Eliott says, buyers can “find a home for their new car. They have the opportunity to see the most beautiful homes in the world while they see the most beautiful cars in the world.” And just in case a Rolls doesn’t fit the style of your new mansion, the dealership also sells Bentleys and Lamborghinis.
Aug 15, 2014
(PALM BEACH GARDENS, FL.) Need more proof that luxury golf course real estate is on the comeback trail? Look no further than Old Palm Golf Club, which boasts some of the PGA Tour’s most elite golfers among its residents. The premier private and exclusive residential community in the Palm Beaches has just announced record home sales for the first six months of 2014 totaling more than $74 million. Their sales have been off the charts, breaking last year’s record-setting pace. (In 2013, Old Palm had 41 transactions totaling more than $91 million in sales.) With 34 sales year-to-date, activity is high in all four of Old Palm’s gracious and distinct neighborhoods: Golf Estates, Grand Estates, Custom Estates, and newly released Isle Estates. Homes range from $1.3 to more than $15 million, with each designed and constructed to the most exacting of standards. “Sales continue to be extremely strong and show no sign of tapering off,” says Connie McGinnis, Director of Sales. That’s good news for the whole industry.
Aug 14, 2014
Dirt is Selling Again
(BONITA SPRINGS, FL) Remember those heady days when homesites sold in luxury golf communities with nothing to bank on except the promise of what was to come? No golf course. No clubhouse. No amenities. That type of home buying disappeared along with the real estate boom nearly a decade ago. While the market hasn’t exactly come full circle, Lennar Homes' Bonita National Golf & Country Club is going old school with their sales efforts. Surprise, it’s working! The club hasn't built so much as a single house and is barely started on the golf course — but it's doing just fine, Darin McMurray, Southwest Florida division president at Lennar, told The News-Press. “We've had 40-plus sales. We have no models, we have a sales trailer and that's it — we're selling dirt. I don't think we've been selling dirt since 2005.” Doesn’t hurt that Bonita National is their first golf course community to be built in Florida since the residential market fell apart in 2006.
Aug 13, 2014
Stratospheric Square Footage
(HONG KONG) If you’ve bought a luxury home in the last few years and calculated its square footage cost, this news will make it seem like a bargain. In the U.S., an upscale home’s cost generally runs about $200-$300 per square foot. For the most expensive markets that figure can double or triple. But those numbers pale in comparison to a home now for sale in Hong Kong’s exclusive Victoria Peak neighborhood. The 4,661-sq. ft. home’s selling price is $105.7 million, making it the most expensive home in the world per square foot. If you haven’t done the math in your head, that works out to over $22,000 per square foot. Mind boggling, yes, but not without precedent in Hong Kong where a home sold in 2011 at over $13,000 per square foot. Still, with only four bedrooms and a two-car carport, seems like the world’s most expensive home is overpriced. Good news is that if you buy in the next five months, there’s a 3% discount. That should make you feel better.
Aug 12, 2014
(LAND O' LAKES, FL) “COURSE IS CLOSED UNTIL FURTHER NOTICE.” That’s all the information you get when you visit the website for the Plantation Palms Golf Club. Those who live in the Land O'Lakes golf community would like to know more. The course closed without notice in May. It’s unkempt greens, overgrown fairways, and uncertain future have homeowners, who once enjoyed the course views, fretting about their property values. According to the local TV station, Bay News 9, neighbors say the course was bustling after its opening in 2012. No one seems quite sure why the course closed without notice. The ownership group has not returned phone calls from residents or the TV station. Gives new meaning to the term “silent partners.”