Showing posts with label luxury homes. Show all posts
Showing posts with label luxury homes. Show all posts

Thursday, November 24, 2016

The Lake: Your 2017 Lake Tahoe Real Estate Report

How is the real estate market in Lake Tahoe? That question defies a simple answer probably more than any area of the country, thanks to many contributing factors such as South Shore or North Shore, California or Nevada, condo or single family home, lakeshore or non-lakeshore, etc.

Luckily, we have plenty of data about the various micro-markets in Lake Tahoe, from which we can extrapolate an accurate picture of home sales in one of the nicest places on earth.  

What stands out? Which homes are selling fastest? Should you buy a condo or a home? What’s the real value to buying lakefront? Is the luxury market softening in and around Lake Tahoe? In what areas have prices dropped so we’re seeing great investment opportunities?

You’ll find all of the answers here, but you can contact us if you’d like a summary or our interpretation.

This data is based on the most recent findings of Sotheby’s International real estate report and encapsulates 2016 through Q3, as well as comparisons to the same conditions one year ago.

If you have any questions about buying or selling in Lake Tahoe – or would like to see more data on other micro-markets like Reno, Incline Village, Tahoe Keys, etc., please contact us anytime.

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Thursday, July 28, 2016

Why luxury real estate is booming in Sacramento!


As Sacramento real estate prices remain as hot as the summer temperatures, a certain segment of the market stands out more than any other: luxury homes. In fact, luxury real estate is booming in Sacramento, Placer, and El Dorado counties, with skyrocketing sales volume and price appreciation numbers that would be considered solid for a year, yet alone a couple of months.

Far from the overinflated high-end prices during the real estate bubble a decade ago, strong financials and market causation serve as a strong foundation for luxury homes in the region. 

We’ll share plenty of data that show how the luxury home market is booming, but first, let’s examine some of the underlying reasons for the strong showing: 

The Sacramento area is exhibiting favorable financials, with steady job growth and a noticeable boost of energy from downtown revitalization and the new arena. Interest rates still near historical lows, with buyer demand remaining high, exerting upward pressure on prices. However, there are far more homebuyers than sellers – and that’s even more pronounced in the luxury market, where it’s estimated there are four buyers to every one home for sale! 

But there are two more interesting factors that are driving the top of the price range in the area. Bay Area residents are jumping into the Sacramento, Placer, and El Dorado markets like never before, scooping up luxury homes at a high rate. 

Sacramento also has more move-up buyers, as steady equity gains over the last five years have allowed more people to sell their homes and springboard to a more expensive or luxury homes.

Here are 25 more data points that show how luxury real estate is booming in Sacramento:

1. While the definition of a luxury home may waver based on the area of the country we’re looking at and the home prices in that area, a luxury home in the Sacramento region (Sacramento, El Dorado, and Placer County) is typically classified as $900,000 or more. 

2. If we examine all luxury homes sold in the second quarter (Q2) of 2016, the average sale price was a generous $1.219 million.

3. Trendgraphix Inc. tracked the 177 luxury homes that sold in the greater Sacramento area during Q2 of 2016. 

4. They found that 177 luxury home sales was an increase of 5% from the same Q2 of 2015, and up a whopping 74% from Q1 of 2016.

5. In the same four-county Sacramento region, 101 luxury homes sold in from January to March of this year (Q1), which represents a 65 percent increase in volume from Q1 of 2015. 

6. During Q1 of 2016 there were 52 single-family luxury home sales that closed this year, compared to only 32 luxury transactions in Q1 of 2015.

7. 34 single family homes sold for between $1 million and $2,499,999 in Q1 of 2016, which was a significantly 80% increase in sales volume compared to Q1 of 2015 when only 19 sold.

8. In the same period this year there were 12 luxury homes that sold for $2.5 million to $4,999,999, close to double the number from the 7 sold in Q1 of 2015.

9. Luxury homes are hitting the market like never before. The current average list price of luxury homes in the Sacramento region during Q1 was a sizable $1,507,000. 

10. Closed sales for luxury homes in that same period averaged $1,212,000, which is well above the $900,000 entry point we set to be considered a luxury home.

11. But that price range dominates the luxury market, with 87% of all luxury homes sales in Q1 sold for $900,000 to $1.5 million. 

12. The uptick in luxury home sales actually started during Q4 of 2015, with a huge spike in high-end real estate transactions at a time of year when home sales are typically very slow.
13. If we set Sacramento County aside for a moment and just look at El Dorado and Placer Counties, what does the luxury home market look like? 

14. El Dorado County saw 344 escrows closed in June, which was a 10.6% increase from June of 2015. The median sale price in El Dorado was $425,000 in June, which was a healthy 11.3% increase from the previous year.

15. In Placer County, 798 real estate sales closed in June, which was almost identical to the number in June 2015, though the median price went up 5.9% to $423,000.

16. Sacramento County reported 2,090 closed escrows in June, a modest 3.1% increase from June of 2015. But home prices saw a big boost, jumping 10.7% year over year to a median price of $310,000.

17. Breaking down the market by zip code, here are the areas that registered a median price increase in the past year of:

More than 25%:
95650
95838
95822

+15% to +25%:
95663
95677
95746
95662
95673
95821
95824
95742

18. In many ways, the data on home sales in the luxury market mirrors trends in home prices in among all homes in Sacramento. For example, current median resale prices in Sacramento County hit an average of $310,000 in June. That’s a change of +$5,000 from only a month earlier in May and a jump of +$30,000 from June of 2015. 

19. Sales volume rose 3% during that same period to 2,090 single-family resale homes closing, which was the highest volume in eight years.

20. The $310,000 benchmark the highest level in almost nine years, since August of 2007 when prices hit $314,000.

21. (For reference, the highest point for Sacramento home prices was $374,000 in August of 2005.)

22. Like we mentioned, rising home prices in the Bay Area are starting to significantly influence luxury home sales in the Sacramento region. With a median sale price of $643,200 as of March of 2016, an inexplicable 5.5% jump from only one month earlier, affordability is beyond reach for many people. And that door is completely closed for a good portion of people in San Francisco where the median sale price in March was $1.13 million, up 5.7 percent from a year earlier.

23. With home prices like that, it makes perfect sense for some Bay Area residents to start buying in Sacramento, whether as an investment, in semi-retirement, or to make the reverse commute. Data shows that the high home prices in the Bay does create “spillover” into the luxury real estate market in Sacramento, Placer, and El Dorado.

24. Not surprisingly, the high-end home sale numbers from North Lake Tahoe/Truckee often represent the top range of home prices in El Dorado and Placer County. 

25. In fact, single-family luxury homes sold at a 62% higher volume in Q1 2016 than a year earlier. Home prices typically go over a million dollars in that region, and the most expensive home sold in the whole region was a $7.18 million six-bedroom home with more than 6,000 square feet!










Wednesday, July 20, 2016

The Pros and Cons of 7 Common Kitchen Countertops

When you walk into someone’s kitchen what’s the first thing you notice? It’s probably not their cabinets, flooring, or even the quality of their appliances, but the countertops that jump out at you. In fact, the right countertops can make – or break – the aesthetic of a kitchen, and there are subtle differences in look, durability, installation, upkeep, and yes, price, for each of the many options you have available when planning your countertop.

In this blog, we’ll cover the pros, cons, and cost of the seven most common countertop materials, and look for part two where we cover nontraditional, modern, and luxury countertop materials.

1. Granite
Each slab of granite is uniquely “mottled,” adding a natural personality of colors and patterns to your kitchen counters.
Pros:
Granite is incredibly durable, resistant to heat, cuts, and scratches. It also won’t stain from liquids or items spilled on it as long as its sealed periodically, and you can cut with the sharpest knife right on granite without harming it.

Cons:
Like we mentioned, granite can stain if it’s not regularly sealed, and the edges can nick or crack over time or if not installed correctly. Since it’s so heavy, DIY granite countertops might not be a good idea, and it should only sit on heavyweight supportive cabinets. Since each piece is unique, it also can be impossible to find a perfectly matching replacement slab down the road.

Cost: $50 to $100 per square foot installed

2. Solid Surfacing
If you’re wondering what solid surfacing is, you’re not alone, as most people know it by one of its brand names, Corian, though all solid surfacing is made from acrylic and polyester composites.

Pros:
Solid surfacing may look like solid stone but it’s nonporous, which means you’ll never need to seal it and no special cleaning or maintenance is required. Since it’s an engineered material, you can choose from almost endless color and pattern options, and installation is seamless with no grout lines or cracks.

Cons:
Hot items like cooking pots or pans can burn solid surfacing, and sharp knives will damage it. The good news is that those imperfections can be sanded out for simple repairs.

Cost: $35 to $100 per square foot, installed

3. Quartz
Also called engineered quartz or engineered stone, modern quartz is one of the hottest new countertop materials, a mix of quartz chips, mineral and resin that’s tinted in aesthetically stunning color variations.

While it may look like a natural stone, quartz is engineered, which means it’s available in many different colors and patterns, but still is incredibly durable, as hot pots, serrated knives, abrasive pads, and most stains won’t affect quartz.

Cons: Since it’s manufactured, quartz tends to look uniform (unlike granite or natural stone), and can get pretty pricey, though it’s worth it.

Cost: $40 to $100 per square foot, installed

4. Marble
Marble is one of the most high-end countertops you can find, and traditionally used in many luxury homes, though it does come at a premium.

Pros:
Marble looks and feels glamorous, almost glowing with luminescence in the right light with unique veining. It’s generally durable and resistant to heat, and bakers and pastry chefs love the fact that it always stays cool.

Cons:
Marble is prone to nicks and scratches, though some see that as patina that adds character. Still, those imperfections can be polished out. Marble also needs to be resealed regularly, as it’s relatively porous so susceptible to stains. .

Cost: $40 to $100 per square foot, installed

5. Tile
This was the most popular economical countertop material from the 1960s through the 1990s, and still today, many people opt for tile countertops.

Pros:
Ceramic and porcelain tiles come in many colors, surfaces, and styles, from small and shiny rounded modern glass-like tiles to large and flat natural Italian stone tiles.  Tiles are one of the most inexpensive countertops options, and easy to add as a “modular” design, allowing homeowners to mix and match. Most tiles are also durable, resistant to scratching, staining and heat. If they are damaged, it’s easy to replace one tile.

Cons: Tiles are usually labor intensive to install, and some people don’t care to have a grid of grout lines on their kitchen counter, which can hold dirt, stains, bacteria, and other substances, as well as presenting an uneven cutting surface.

Cost: $10 to $80 per square foot, installed

6. Laminate
Laminate has been a kitchen counter stalwart for many decades, and sometimes is perceived as cheap, though today’s laminate countertops are equally modern, diverse, and practical.

Pros:
Sometimes called Formica after the brand name, laminate counters are made of paper blended with resins and fused to particleboard, and therefore one of your least expensive countertop options. These days, they also come in a wide spectrum of colors, faux patterns, and styles, and can be laser measured and cut to fit any counter surface seamlessly. Laminate materials are far more stain and heat resistant than their predecessors. It’s also lightweight, and because of the combination of these options (and especially the low cost), laminate is a favorite in rental properties.

Cons:
Laminate countertops are still easily damaged by sharp knives or cuts, and abrasives like steel wool can also do damage. Laminate is also difficult to repair without replacing a whole section (and leaving a seam) or the whole counter top. Over time, layers can peel if left wet, and you also can’t use laminate with undermount sinks.

Cost: $10 to $40 per square foot, installed

7. Soapstone
While not nearly common as granite, soapstone offers similar natural beauty and some characteristics in common but with a softer surface.

Pros:
It resists heat well, and also repels stains, chemicals and bacteria, making it a durable countertop surface for high-use kitchens (they often use soapstone in chemical laboratories.) Soapstone also ages well, growing richer in color and texture.

Cons:
Soapstone does ding, scratch and nick fairly easily, but those can be sanded out with super fine paper and then recoated with mineral oil for simple repairs. While it does resist some stains, it has been known to absorb others, so spills should be cleaned quickly, and it should be finished with oil periodically.

Cost: $70 to $100 per square foot, installed



Thursday, June 30, 2016

The 10 most luxurious and expensive bathtubs in the world

The history of mankind bathing in self-made containers goes back nearly 6000 years to the Indus Valley in India, where archeologists have found copper water pipes within the ruins of a palace. In ancient Crete 3000 years later, the wealthiest Greeks bathed in pedestal tubs made of hardened pottery and almost 5 feet long. The Roman Empire took the indulgent ritual of bathing to new levels from 500 BC to 455 AD with lead and bronze popes, marble fixtures, and luxurious bathhouses.

In early 20th century U.S., the plumbing systems were sorely lacking, with only 1% of homes enjoying indoor plumbing as late as 1921. Most people still used outhouses, and it wasn’t until the housing boom post WWII that most houses had bathtubs – usually claw foot tubs at first.

We’ve come a long way, as these days almost every home has multiple bathtubs and showers as well. But luxury home builders, designers, and owners are getting back to the therapeutic and regenerative powers of bathing, with high-end bath tubs that are sure to impress.

To celebrate the art and aesthetics of bathing, here are the top 10 luxurious and most expensive bathtubs in the world:

10. EAGO  by Blue Bath
Price: $4,699
This 6’ long ultra-modern bathtub delivers all of the amenities and luxury of more expensive tubs, but easy to install and at a price that’s reasonable for the average luxury homeowner. The EAGO even has a TV screen on board!


9. Le Cob Glass Bathtub
Price: $34,000
Designed by Joseph Licciardi, this unique minimalist tub is made of transparent glass, acrylic and metals, and curved to match the contours of the body. One side of the tub is slightly lower to crate an infinity pool effect, with a sheet of water cascading down into a bed of pebbles.





8. Diamond Bathtub
Price: $39,000
It took designer Lori Garner three years to complete this iconic work of bathing art, with the outer layer alone highlighting 45,000 individually-arranged Swarovski crystals. With some custom overhead lighting, these crystals will reflect and refract in a million distinct patterns and colors, creating a unique visual experience.



7. Kallista Archeo Copper Bathtub
Price: $67,557
This tub may appear modest at only 5 foot long and 2.5 feet wide, but it was actually designed by the same people who refurbished the Statue of Liberty’s torch. This solid copper bathing vessel can hold 71 gallons of water and emulates the look of ancient Greek bathtubs.



6. Serenity Bathtub
Price: $76,658
Only two feet long, this Serenity Bathtub is constructed from bronze, with gold and silver embedded stones. Only a small number of these limited editions tubs were ever made, ensuring they are luxury collector’s items.



5. Baldi Amethyst Bathtub
Price: $122,000
Following the trend of custom carved gemstones in the luxury home world, this tub is carved entirely from pristine amethyst, with 24K gold legs. You can even purchase matching amethyst lotion dispensers, soap dishes, and other accouterment.




4. Baldi Malachite Bathtub
Price: $222,000
This exquisite tub was made by iconic designer Luca Bojola, built entirely from fine turquoise malachite with 24K gold legs. Legend has it that the Malachite crystal emits energies that protect children, but you don’t need to be superstitious to enjoy this elegant crystal vessel.



3. Baldi Rock Crystal Bathtub
Price: $790,310
Another notable tub by the Italian interiors firm, Luca Bojola for Baldi, only three of these Rock Crystal tubs were ever made. Each one spans more than 8 feet and was carved from a 10-ton Amazonian crystal, then garnished with diamonds for good measure.



2. Golden Bathtub – Price: $990,000
The first tub to reach the near-million dollar mark, the legendary Golden Bathtub was first commissioned by the Kominato Hotel in Japan, where it was available for select high-end guests. Weighing in at more than 175 pounds, made from pure gold and carefully guarded by security, it would seem that it was immovable, yet the Golden Bathtub was stolen from the Kominato Hotel in 2007, and still no arrests or even leads exist.



1. Le Grand Queen
$1,700,000
With a nearly two million-dollar price tag, the Le Grand Queen is considered the most expensive bathtub ever produced. Designer Simon Krapf carved the Le Grand Queen from 10 tons of a rare gemstone called Caijou, thought to have mythical healing properties, with a shape inspired by a traditional Indonesian canoe. Caijou is so precious and rare that Krapf kept the source of their mine a secret, even when it was purchased by an anonymous Arab buyer at the Dubai International Jewelry Festival for $1.7 million.


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If you've enjoyed these bathtubs, look for part two of this blog where we introduce 10 luxurious bathtubs you can afford to put in any home!