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Coldwell Banker Closes Three Landmark Properties in the Desert
by President Jamie Duran, Orange County, San Diego, and Desert Companies
We want to Thank President Jamie Duran of Coldwell Banker Residential Brokerage for this Presidents Message! And we were honored to have been the ones that handled the Sells of these hallmark properties that were features in numerous books and received several architectural awards for its “timeless architecture.” As quoted by us :These are stunning estates with rich history, remarkable design, and incredible vistas. The transactions fell into place beautifully and we were fortunate to be involved with the sales”
346 Tamarisk Rd – Zanuck Estate – Sold /$4.9M
64725 Acanto Drive – Pond Estate – Sold /$7.5M
2212 Southridge Dr – Boat House – Sold /$1.75M
We Cat Moe & John Nelson of Nelson-Moe Properties Coldwell Banker Presidents Premier Properties would also be HONOREDif given the chance to SELL your “Timeless Architecture” Estate as well! Contact us TODAY!
SOLD!! $7,700,000 Elrod/James Bond House SOLD!!
We were very HONORED to have been the ones that listed this Iconic architectural property in the desert of Palm Springs!
Earlier this year after four years of working with Lloyds Bank of London, we announced the listings of the iconic architectural properties at Southridge. Today as an update we are proud to announce the successful closing of escrow of the famous Lautner/James Bond House. This sale marks a historic bench mark as the highest sale in Palm Springs history – a sign of a healthy direction in our Real Estate market as Palm Springs continues to attract the next generation of successful investors from outside the area. We are honored to have another very happy client and appreciate the opportunity given to us. Known as the Elrod House this monumental, world famous residential sculpture was designed by 1968. Organic shapes, monumental construction and world class design create an extraordinary experience of space that Lautner himself described as “timeless” architecture. The 60′ wide circular living room has a conical dome that fans out in nine petals between nine clerestories angled up to bring in light. Retractable curved glass walls open the entire living room and pool terrace to panoramic views of Mt San Jacinto, Mt San Gorgonio and the full sweep of the valley below and mountain ranges beyond. The very rock of the ridge is incorporated into the design throughout the home. A very rare opportunity to acquire an inspiring example of architectural perfection. SOLD!!!
This $2 Million Home Was Built to Look Like a Ship
But surprisingly, it’s located in the desert of Palm Springs
Text by Jennifer Tzeses Posted July 8, 2016
The “ship” is situated next to a road and surrounded by palm trees.Photo: Courtesy of Hawaii Life Real Estate Brokers
Part irony, part wishful thinking, this Palm Springs, California, home, aptly named Boat House for its shiplike exterior, happens to be located in the heart of the desert. Built in 1992 by architect Michael P. Johnson for race-car driver Jim Jeffords, the property is located on the side of a hill in the gated community of Southridge. Inside the towering glass walls, the interiors feature 14-foot ceilings. Vistas of the arid landscape and valley take center stage in the living room at the bow of the “ship.” There’s also an open-plan kitchen with sliding privacy screens, a dining area, and three en suite bedrooms, including the master suite, which features a skylight and fireplace and overlooks the living room. Outside, there’s an infinity pool and large sun deck, both with beautiful views. Listed for $2 million, this 3,905-square-foot home has 3 bedrooms and 3 baths. Contact: Coldwell Banker, 760-325-4500; coldwellbankerhomes.com
Walls of glass and wood beams surround the living room.
Photo: Courtesy of Hawaii Life Real Estate Brokers
A skylight crowns the master suite.
Photo: Courtesy of Hawaii Life Real Estate Brokers
The pool area offers amazing views.
Photo: Courtesy of Hawaii Life Real Estate Brokers
Thank you Jennifer Tzeses with Architectural digest for including our “Boat House” listing as one of your recent articles you can also see it here: http://www.architecturaldigest.com/story/ship-home-palm-springs
Palm Springs’s Iconic Elrod House, a John Lautner Gem, Asks $8M
Famous for appearing in Diamonds are Forever, the concrete masterpiece returns to the market
by Patrick Sisson
A famous modernist home in Palm Springs designed by John Lautner, known by many for its brief appearance in a Bond film, has recently been re-listed, quickly drawing attention and offers. The one-of-a-kind dwelling, which hasn’t been open to the public for years, returns to the market after a lengthy legal battle and is asking $8M, according to The Desert Sun.
Real estate investor Michael Kilroy purchased the Elrod Home, as well as two other properties (the Steve McQueen House and Boat House), for $11 million. Years later, Kilroy fell on hard times and in 2012, UK-based lender Lloyds Bank sued Kilroy, claiming he had stopped payment and owed $1.8 million. In addition, the nearby Southbridge Property Owners Association also sued, claiming Kilroy owed $150,000 in fees.
Last April, Kilroy filed a petition for bankruptcy, and the creditors agreed he had until the end of 2016 to sell. Last week, local broker Nelson Moe Properties listed the home.
Designed for a noted interior designer and considered a key example of Lautner’s exemplary means of blending architecture and nature, the Elrod House is one of the most famous Modernist homes in Palm Springs. Highlights of the home’s layout include a circular concrete canopy framed by glass windows and a projecting pool deck that seems to float above the landscape.
This isn’t the only John Lautner-designed home to be in the news this year. In February, it was announced that his famous, dramatically slanted Sheats-Goldstein Residence, which made a cameo in The Big Lewbowski, was donated to the Los Angeles County Museum of Art (LACMA).
2175 Southridge Drive, Palm Springs, California [Nelson Moe Properties]
Iconic John Lautner ’60s House Will Be Donated To L.A. Museum [Curbed]
John Lautner’s Elrod House in Palm Springs Wants $10.5M [Curbed]
John Lautner Houses in the Movies: James Bond to Big Lebowski [Curbed]
Thank you Patirck Sisson with L.A. Curbed http://www.curbed.com/authors/patrick-sisson for including our iconic famous high end real estate home as one of your articles!
2015 Survey Exclusive: Wealth, Real Estate & the High-Net-Worth Investor
Article by Real Estate News
Rising home prices? C’est la vie, say a majority of today’s high-net-worth (HNW) individuals. According to new research Coldwell Banker Previews International®/NRT commissioned from Ipsos MediaCT, 54% of HNW individuals say they plan to make a real estate investment this year, up from 48% in 2014. The report surveyed the wealthiest 1.5% of the U.S. population with an average net worth of $8.5 million, and their outlook on real estate was generally positive.
An overwhelming majority — 94% — expect their property to grow, on average, 16% in value over the next five years. However, appreciation is not their primary motivator for wanting to buy. Those considering a purchase are twice as likely to be looking for a residence for personal use, as opposed to purely for investment/rental purposes. Still, 40% of respondents cited investment attractiveness as a reason to be in the real estate market.
“Property has been a mainstay of high-net-worth investor portfolios for decades, but what is notable now is that so many those investors continue to be bullish about real estate, even in the face of rising real estate prices in many U.S. cities,” says Ginette Wright, vice president of marketing for Previews®/NRT. “Financial market uncertainty and other recent global economic factors, such as a potential slowdown in China, all seem to have contributed to their view of real estate as a safe haven.”
Young, Free and Willing to Pay a Premium
Even younger affluent generations are taking an interest in real estate. The survey found that 69% of HNW millennials (those under age 35) say they plan to purchase a new property in the coming year — running contrary to the myth that millennials are reluctant to enter the housing market. Compare that to 50% of Gen Xers (ages 35-49) and 17% of baby boomers (50 and older), who expect to purchase new property in the coming year. Millennials are also leading the movement toward embracing a “live anywhere” lifestyle, a trend spotted in last year’s survey.
Plan-to-Purchase-_-corrected
In addition to being more inclined to invest in real estate, younger wealthy consumers are also purchasing homes at substantially higher prices than baby boomers. Gen Xers paid an average of $5.24 million for their last home, and millennials spent $4.96 million. Baby boomers, who tend to be in downsizing mode, reported an average closing price of $1.55 million on their last home purchase.
Most Wanted: Tech and Green Features
What features and amenities do HNW individuals most desire? A home that’s move-in ready was at the top of their list, followed by modern appliances and technology, as well as the latest in “green” features. A growing share of HNW individuals say that a fully automated and wired home environment and a LEED-certified green home are becoming more important.
California Pending Home Sales Continue Annual Increase for Seventh Straight Month
California pending home sales continued to gain steam in June, registering seven months of continued annual increases and the fifth consecutive month of double-digit increases, according to the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.).
In a separate report, California REALTORS responding to C.A.R’s June Market Pulse Survey saw a reduction in floor calls, listing appointments, and open house traffic, compared with May. The Market Pulse Survey is a monthly online survey of more than 300 California REALTORS, Which measures data about their last closed transaction and sentiment about business activity in their market area for the previous month and the last year.
Pending Home Sales data:
• California pending home sales were up 12.5% on an annual basis from the revised 107 index recorded in June 2014, marking the seventh straight month of year-to-year gains and the fifth straight month of double-digit advances.
• Statewide pending home sales fell in June on a month-to-month basis, with the Pending Home Sales index (PHSI) decreasing 2.6% from revised 123.6 in May to 120.4, based on signed contracts. The month-to-month decrease was slightly below the average May-June loss of 1.9% observed in the last seven years.
• A shortage of available homes in the San Francisco Bay Area stified pending sales in June, pushing the PHSI to 127.9, down 5.3% from 135.1 in May down 0.9% from 129.1 index recorded in June 2014.
• Pending home sales in Southern California continued last month’s increase by rising 4% in June to reach an index of 109.6 up 14.2% from June 2014 index of 96.
• Central Valley pending sales fell in June dropping 8.2% from May to reach an index of 99.5 in June but up 14.2% from 87.2 index of June 2014.
Equity and distressed housing market data:
• The share of equity sales – or non-distressed property sales – declined slightly in June to make up 92.4% of all home sales, remaining near the highest level since late 2007. Equity sales make up 92.6% of all home sales in May and 89.9% in June 2014. The share of equity sales has been at or near 90% since mid-2014.
• Conversely, the combined share of all distressed property sales (REOs and short sales) rose slightly in June, up to 7.6% from 7.4% in May. Distressed sales made up 10.1% of total sales a year ago. Ten of the 43 counties that C.A.R. reported showed month-to-month decreases in their distressed sales shares, with Alameda and Santa Clara having the smallest share of distressed sales shares at 1%, followed by San Mateo (2%), Contra Costa (3%), and San Francisco (3%). Glenn had the highest share of distressed sales at 27% followed by Merced and Siskiyou (both at 23%) For more information, visit http://www.car.org, CALIFORNIA ASSOCIATION OF REALTORS®
Staging for Winter Home Sales
Selling in the winter offers at least two positives – less competition and new customers. During the winter, most people have taken their listings off the market, but agents can help buyers who have been forced into sudden moves, like executives with job transfers who are looking to purchase a property quickly.
To take advantage of the season, make sure your home is properly staged for the winter. This can help your property receive a higher offer and get off the market sooner.
Start on the Outside
There is no question that curb appeal is one of the first things that attract a potential buyer, but more often than not, they are forgiving of a snow-covered property during the winter months. Most buyers understand that snow piles up in the yard and trees stay barren during cold weather.
What they will not tolerate however is the inability to get to your open house because of bad weather. If heavy snow threatens before the open house, you may need to provide alternative directions to visitors or move the showing to when the weather is more favorable.
If snow covers the ground, clear a safe path from the street to the front door. Spreading sand or salt on the walkway can improve footing. Do not forget to also clear a pathway to any outdoor areas that you want buyers to visit, such as a storage shed or guest house.
Make it Comfortable
Be sure to ask your client to turn on the heat in all the rooms for a warm walk-through. Before the open house begins, walk through the property and check the warmth level in each room. If any room or area feels chilly, buyers may assume that the home lacks adequate insulation or has heating issues.
If the source of the cold air is a draft from a hole or a poorly sealed window, seal any gaps to eliminate the problem. Poor air circulation may also be an issue. You can remedy this by moving furniture away from vents wherever the room allows.
Show Warmth
What buyers see can affect their perception of warmth. Barren areas, solid colors, shine and reflective surfaces reinforce a “cool” aesthetic and are best reserved for summer staging. In the winter, ensure that warm fabrics, rugs, pillows, curtains, bed linens and tablecloths adorn the home for visual warmth. Layer throws and pillows on sofas and beds so visitors can envision cozy days spent on the couch. Use richly textured materials such as furry blankets and wooden accessories.
Bring in the promise of warmer times by putting containers filled with winter-blooming plants in strategic locations. Place a hanging plant near the entry, a winter bouquet on the dining room table or a bunch of small flowers on the side tables flanking the couch.
Staging your winter listings should not take any more time, effort or money than in the summer. Adequate preparation and a bit of attention to detail can make the difference between marketing a cozy home that buyers will bid on and a property that languishes on the market for months because it seems as cold as the weather outside.
U.S. House Prices Contribute to Global House Price Recovery
by Michael Neal
A precious blog post illustrated that U.S house prices are recording a range of annual gains with some areas of the country rising faster than others. Similarly, in the context of the global economy, annual house price growth in the U.S. has been faster than some countries while lagging in other countries.
The International Monetary Fund’s Global Housing Watch calculates a real seasonally adjusted house price index for 52 countries including the United States. House prices in these countries are used to calculate two separate global house price indexes. One global house price index assigns an equal weight to each country and the second global house price index is adjusted to account for the size of each country’s economic output (GDP).
Figure 1 below shows that the rate of growth recorded in the US places it in the 2nd quintile amongst countries for which house price data are available. According to the International Monetary Fund, real and seasonally adjusted annual house price growth in the U.S. was estimated to be 3.6% between the second quarter of 2013 and the second quarter of 2014, thereby contributing to the 1.3% increase in real seasonally adjusted global house prices. The IMF comparison utilizes the Federal Housing Agency (FHFA) house price index.
Earlier blog posts have illustrated how typically, house prices in areas that fell the most remain farther from their peak level.
Similarly, in an international comparison, real seasonally adjusted house prices in the U.S. fell more than collective would house prices, but they are farther from returning to their peak level. As Figure 2 illustrates, house prices in the U.S reached their peak in the fourth quarter of 2006 and fell to 73% of that peak by the second quarter of 2011. As of the second quarter of 2014, U.S. house prices peaked in the first quarter of 2008 and fell to 91% of that level in the second quarter of 2009. However, as of the second quarter of 2014, global house prices are at 94% of their peak level.
by Michael Neal
A precious blog post illustrated that U.S house prices are recording a range of annual gains with some areas of the country rising faster than others. Similarly, in the context of the global economy, annual house price growth in the U.S. has been faster than some countries while lagging in other countries.
The International Monetary Fund’s Global Housing Watch calculates a real seasonally adjusted house price index for 52 countries including the United States. House prices in these countries are used to calculate two separate global house price indexes. One global house price index assigns an equal weight to each country and the second global house price index is adjusted to account for the size of each country’s economic output (GDP).
Figure 1 below shows that the rate of growth recorded in the US places it in the 2nd quintile amongst countries for which house price data are available. According to the International Monetary Fund, real and seasonally adjusted annual house price growth in the U.S. was estimated to be 3.6% between the second quarter of 2013 and the second quarter of 2014, thereby contributing to the 1.3% increase in real seasonally adjusted global house prices. The IMF comparison utilizes the Federal Housing Agency (FHFA) house price index.
Earlier blog posts have illustrated how typically, house prices in areas that fell the most remain farther from their peak level.
Similarly, in an international comparison, real seasonally adjusted house prices in the U.S. fell more than collective would house prices, but they are farther from returning to their peak level. As Figure 2 illustrates, house prices in the U.S reached their peak in the fourth quarter of 2006 and fell to 73% of that peak by the second quarter of 2011. As of the second quarter of 2014, U.S. house prices peaked in the first quarter of 2008 and fell to 91% of that level in the second quarter of 2009. However, as of the second quarter of 2014, global house prices are at 94% of their peak level.
Should I Sell My Home Now or Wait Until the Spring?
There are many questions homeowners ask themselves during the selling process. “How much will my home sell for?” “How much should I list my home for?” “Who should I select as a real estate agent to sell my home?” “What if the real estate agent overprices my home?” Last but not least, “Is this a good time to be selling a home?” is also a very common question that real estate agents are asked.
As with every decision in life, there are pros and cons, and choosing when to sell a home is no different. There are many factors that need to be taken into consideration before deciding when to sell a home. Many homeowners believe selling a home during the fall or winter months is not a good idea and that the spring is the only time a house should be sold. This is the furthest from the truth. Certainly most real estate markets across the United States experience a “spring market rush” every year. There is no doubt that the “spring market” is a great time to be selling and buying real estate, however, the fall and winter seasons may be the best fit for you for many reasons.
Here are several reasons why choosing to sell your home now may be a better decision than waiting until the spring:
Less Competition
One way that you can tell the spring real estate market has arrived is by driving down a street in your local community. In all likelihood there will be For Sale signs up all over the neighborhood! One great reason to sell your home now and not wait until the spring market is there is sure to be less competition. The fewer number of comparable homes for sale, the greater the probability that a buyer will look at your home.
Simply put, it’s the supply and demand theory. If there are less homes for sale, there are less homes that a potential buyer can choose from, therefore increasing the demand for your home. Not only will less competition increase the probability for showings, but it will also increase the probability that an offer will be received and you will get the maximum amount of money for your home.
Serious Buyers Are Out There
Homes are sold and bought 365 days a year, period! Many homeowners believe that buyers aren’t out there during the fall and winter months. This simply is not the case. Serious buyers are always out there! Some buyers may stop their home search because it is the fall or winter, but serious buyers will continue to look at homes, no matter what time of year it is.
The fall and winter months are also a great time for a potential buyer to see what a specific neighborhood is like. Do your neighbors have pumpkins on their front step? Are there lots of Trick-or-Treaters wandering the neighborhood on Halloween? Do any of your neighbors have any light displays for the holidays? There are buyers out there who will look at these types of things when determining whether your home is in the right neighborhood for them or not.
The Best Agents Are Always Up To The Challenge
Any real estate agent who tells you that the fall or winter months are a bad time to sell is not someone you want selling your home! A great real estate agent will know how to adapt to the current season and market their listings to reflect that. A great real estate agent can make suggestions and give some of their tips on hot to sell a home during the fall or winter seasons. If a real estate agent doesn’t have any suggestions on making your home more desirable for the current season, you should be concerned about the creativity they are going to use when marketing your home.
Staging For The Holiday Season
Many sellers believe staging a home is the main reason a home sells. While staging certainly helps sell homes, some buyers have a difficult time envisioning themselves in a home no matter what you do. However, there are some buyers who can easily be “sold” on a home because it is staged. Simple “seasonal” staging such as adjusting the color of the decor or having an aroma in the air that is relative to the time of year can go a long way with some potential buyers and possibly be the difference between a home selling or not.
Mortgage Rates Are Low
If you’ve read about real estate in the past year, it’s likely you’ve read that the mortgage rates are very low. You also probably read that there is an expectation that the rates will increase very soon. Since mortgage rates are so low right now, buyers are able to afford more expensive homes. If mortgage rates increase over the fall and winter months while you’re waiting for the spring market, it could cost you thousands of dollars as it could eliminate many buyers from the real estate marketplace! Less demand for your home will mean less money. Bottom line: take advantage of selling your home while the rates are this low.
Quicker Transactions
Right now, there are fewer real estate transactions than there will be in the spring. The fewer number of transactions means the mortgage lenders have less loans to process, attorneys have less closings to do, and home inspectors have fewer inspections to do. All of these factors should lead to a quicker transaction and closing for all the parties involved. One of the most frustrating things for a seller to deal with while selling their home is not getting answers in a reasonable amount of time. A quicker transaction is going to be less stress for you.
By considering all of the reasons above, you will be able to determine whether now is a good time to sell or if you should wait until the spring.
Article written by Kyle Hiscock and posted by RISMedia’s housecall. We wanted to post this article due to it has some really great points about selling your home in the Fall and wanted our readers to take note of some of them!
Is an Agent Team Right for You? 9 Signs That Point to ‘Yes!’
For many real estate professionals, the mere thought of bringing a new team member—or two—on board is all it takes to talk themselves out of even entertaining the idea.
However, creating a successful agent team will not only benefit your company (hello increased productivity, profitability and job satisfaction, goodbye having to tackle everything on your own), it’ll also go a long way toward improving your life and relationships outside of work. And who doesn’t like getting two things for the price of one? By forming a team, you’ll find yourself with more free time on your hands (just when you thought it wasn’t possible), which will ultimately result in a better attitude toward life. I can see you breathing deeper already.
While timing is everything—if you don’t have enough business to keep everyone busy and paid—adding to the mix will most likely cause more harm than good. But if you find yourself struggling to get everything done despite working 80 (or more) hours a week, bringing in a few extra hands may be the best thing you do this year.
If you’re still on the fence when it comes to incorporating a team-based approach into your business, take some time to think about the following statements. If any of them ring true, it may be time to start looking for some reinforcement.
- You have more clients or leads than you can handle. You’re actually referring surplus prospects to your competitors.
• You’re experiencing an increasing number of missed opportunities due to time and resource constraints.
• You find it more and more difficult to meet deadlines, or you’re chronically missing deadlines.
• You see an increasing number of mistakes and miscommunications in your work.
• You feel as though you never have enough time to do what you need to do—or would like to do.
• Family members are complaining that you don’t spend enough quality time at home.
• You skip vacations to catch up on work.
• You feel alone and frustrated. You want to share ideas and get feedback before bringing those ideas to life, but you have nobody to bounce those ideas off of.
• You have great ideas for improving your business, but you’re missing the key skills and talents to implement those ideas.
Sound familiar?
Even if you’re not 100 percent ready to jump on the team bandwagon just yet, keep the following sentiment from Mother Teresa in mind: “I can do things you cannot, you can do things I cannot; together we can do great things.” This article written by Paige Tepping is RISMedia’s Managing Editor.
We thought that is was a really good article and has some really good points to incorporating a team-based approach to helping our clients and handling leads! We look forward to hearing from you soon!
Nelson-Moe Group 