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June 2012

Warren Buffett says "Buy"

Good information for your investors

Just ask the Oracle of Omaha, billionaire Warren Buffett about residential real estate as an investment. He recently told CNBC that distressed single-family homes were one of today’s best investment opportunities, saying, “…It’s a leveraged way of owning a very cheap asset now and I think that’s probably as an attractive an investment as you can make.”

If you work with residential investors, whether they are buying distressed homes or looking for other good value residential properties with potential as rentals, here’s a recent analysis which may be useful. In a study sponsored by HomeVestors of America, Inc.® (known as the We Buy Ugly Houses® company), Local Market Monitor analyzed over 300 cities before identifying the top 10 for residential rental investments, as of second quarter of this year. For additional cities and more explanatory information on the analysis, see the Local Market Monitor press release.

Not working with investors? The projected growth in median price is good information, too.

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Nation’s #1 Luxury Agent to Speak at Annual Leaders in Luxury Conference

We are counting the days!

On October 15-17, approximately 120 luxury home professionals from across North America will gather for our eighth annual Institute for Luxury Home Marketing’s Leaders in Luxury (LIL) conference, an exclusive invitation-only event for Realtors who work in the million and multimillion dollar market.

KenHeld at the prestigious Charleston Place Hotel in Charleston, South Carolina, LIL will feature a keynote presentation by Institute member Ken DeLeon of DeLeon Realty. DeLeon is not only the nation’s number #1 Realtor with a sales volume of $275 million in 2011, he also holds the record for the most expensive property sold to-date in the U.S. – a $100 million Silicon Valley mansion sold to Russian billionaire Yuri Milner.

DeLeon will detail his dramatic rise to the top and how he became number one just nine years after starting his real estate career. He’ll also share tips for building a successful luxury business.

With the event still months away, we are well on our way to selling out and are continuing to add speakers and panelists who will share their ideas and the practices which are making top luxury agents successful.

And, of course, we have a fabulous property tour, a marketing awards competition, and lots of valuable networking opportunities planned. If you plan to attend and haven’t yet registered, don’t delay. Last year we had to turn people away.

Previous Leaders in Luxury conferences sparked comments like this:

“There is no way I can pick just one idea to take home and use. The entire conference was fabulous with useful information in all categories. As always, the attention to detail was superb and the networking was invaluable,” - Trinkie Watson of Chase International in Lake Tahoe, California.  

“The Leaders in Luxury conference offers the premier luxury broker education and speakers in the industry,” - George R. Harvey, Jr. of The Harvey Team in Telluride, Colorado.

For more information on Leaders in Luxury or to discuss receiving an invitation, go to www. LeadersInLuxury.com, email info@LuxuryHomeMarketing.com or call us at 214-485-3000.


Average family’s wealth falls while wealthy household’s wealth grows

BulletinAccording to a report just released by the Federal Reserve, the median U.S. household saw its wealth decline 39% between 2007 and 2010. Net worth dropped from $126,400 to $77,300, the same level it was in 1992. (If you don’t remember from math class, the median is the midpoint where half are above and half are below.)

During the same period, the top 10% of households, as measured by net worth, enjoyed a 1.9% increase in wealth to $1.17 million. This increase in wealth is also reflected in the increase in the number of the world’s High Net Worth Individuals (HNWIs) as well as the number of billionaires.

The Fed study supports other research indicating that the wealthy have seen their finances more than recover from the recession, something which is fueling a rebound in the luxury housing market.

Not only have the very affluent seen an increase in their balance sheets, many of those who went into a “wait and see” mode with regard to home buying, have now come back into the market. Prime luxury properties are in demand and in some areas high demand is generating multiple offers. For more information on luxury market activity, be sure to keep your eyes on our weekly ILHM National Luxury Market Report (Members can access a more detailed version of the report here).  


 


Ultimate Homes from $20M to $125M

Ultimate Homes 2012 CoverOur friends at Unique Homes Magazine have just published their annual Ultimate edition, which highlights the most expensive listings in the country, from $20M  to $125M.  

Here a quick link to the top 10.  Note that in recent days since the list was compiled #6 sold for $70M and there is another property on the market for $125M.   

It is nice to see so many of our members in this issue.  Congratulations y'all!

The Ultimate Issue is always fun reading. Enjoy!