Luxury Property Blog » For Enthusiasts

Luxury Real Estate News 11/20

Mark Knowles — Fri, 20 Nov 2009 03:41:34 +0000

Lots of ups and downs in the real estate world – as seems to be the norm recently. As usual, the conflicting information is adding to the confusion in the market place, at least for those of us not so far up the food chain we are guaranteed a tax payer paid bonus. The mess in the British economy continues to take it’s toll amongst the politicians. Years of systematic abuse by Members of Parliament is coming to boil and the latest head to roll (metaphorically) is David Curry – the politician ostensibly in charge of policing the expenses of MPs. I know I keep bleating on about the behavior of politicians and bankers – but I genuinely feel that until we chop the criminal element from these institutions and get some accountability – we cannot have a recovery.

US Housing Starts Down Again

Mark Knowles — Thu, 19 Nov 2009 07:59:28 +0000

The figures for US housing starts showed another drop in October, down 10.6% to a seasonally adjusted, annual rate of 529,000. According to the Washington Post this is “unexpected,” and Business Week called it “surprising.”

Trump Opens First Luxury Property in Waikiki in 20 Years

Mark Knowles — Wed, 18 Nov 2009 06:39:45 +0000

It is certainly good to report something positive in the luxury real estate world for a change, and the first new luxury property in Waikiki for 20 years is it. It is 3 years since the Trump International Hotel and Tower Waikiki Beach Walk was launched and she officially accepted her first guests on Monday with an opening ceremony featuring traditional dancing and music from Hawaii.

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Madoff’s Luxury Properties Reduced in Price

Mark Knowles — Mon, 16 Nov 2009 09:38:08 +0000

US Marshal’s reduced the asking price on Bernie Madoff’s various properties for sale this week. After just two months on the market, the Manhattan apartment has been reduced by 10% or $1 million to $8.9 million, and the Palm Beach Mansion reduced by 7%.

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Christie & Co Sell Luxury London Boutique Hotel

Mark Knowles — Tue, 10 Nov 2009 11:58:46 +0000

Christie + Co has sold the leasehold interest of the Lord Milner Hotel, the 5-star boutique hotel in Central London, to Adrian Gardiner, owner of the Mantis Group, for an undisclosed sum, although we understand the seller was “motivated.”

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Luxury Real Estate News 11/09

Mark Knowles — Mon, 09 Nov 2009 10:31:17 +0000

Following on from the Hong Kong government’s decision to cap mortgages on luxury real estate in Hong Kong at 60% LTV, Singapore’s central bank warned that more measures may be introduced to slow down the level of speculation in the property market. One side effect of the massive amount of capital injected by the Chinese government into the markets is that both the stock market and the property market are dangerously outpacing the fundamentals – especially in the financial centers.

Nicholas Cage Homes Go to Foreclosure Auction in New Orleans

Mark Knowles — Wed, 04 Nov 2009 07:08:34 +0000

Ouch! Two luxury homes in New Orleans owned by actor Nicholas Cage have been seized and placed up for auction after a local lender foreclosed on them. Things are a little messy as the homes already have $6.6 million worth of liens on them courtesy the Internal Revenue Service.

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Foreclosure in Golf Community Questioned : But What About The Big Foreclosure Picture?

Mark Knowles — Tue, 03 Nov 2009 09:44:29 +0000

More confusion and spurious accusations in the real estate business as a bank owned property in Rancho Murieta, CA “shocks,” realtors according to News10:

The 3,800 square foot home on De La Pena Circle in the exclusive neighborhood known as the Fairways was listed for sale in August at up to $200,000 below fair market value, according to brokers and agents familiar with Rancho Murieta real estate. The home, priced at $460,000, remained on the market for exactly 13 minutes.

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To Sell or to Rent? A Brief Guide to the London Luxury Property Market

Mark Knowles — Mon, 02 Nov 2009 06:23:20 +0000

An extraordinary month for the London property market saw a phenomenal 80% increase in agreed sales- making this the most successful September for 140 years in volume and value terms! There has been a high percentage rise in the number of application registrations, showcasing the continued indication of recovery of the London property sales market.

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Upscale Retirement Community Planned For Chicago Lakefront

Mark Knowles — Fri, 30 Oct 2009 05:49:46 +0000

850 Lake Shore Drive, an icon on Chicago’s skyline 850 Lake Shore Drive, an icon of Chicago’s skyline Integrated Development Group (IDG), a Chicago area-based firm that creates innovative and extraordinary living communities for affluent seniors, has chosen Chicago’s Booth Hansen Architects to renovate and retrofit 850 Lake Shore Drive for occupancy in 2012.

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