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		<title>What It&#8217;s Like to Own a Luxury Home</title>
		<link>http://www.amrevista.com/what-its-like-to-own-a-luxury-home/</link>
		<comments>http://www.amrevista.com/what-its-like-to-own-a-luxury-home/#comments</comments>
		<pubDate>Thu, 11 Mar 2010 10:59:13 +0000</pubDate>
		<dc:creator></dc:creator>
				<category><![CDATA[urban living]]></category>
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		<guid isPermaLink="false">http://www.amrevista.com/?p=35</guid>
		<description><![CDATA[High-end Realtors and estate owners give an insider&#8217;s perspective.
Privacy and security are important factors when it comes to living in New York City.
Is it really all about champagne wishes and caviar dreams? While living in a multimillion-dollar home has its perks, it&#8217;s also a lot of financial responsibility. Some new homeowners overlook the details and [...]]]></description>
			<content:encoded><![CDATA[<p>High-end Realtors and estate owners give an insider&#8217;s perspective.<br />
Privacy and security are important factors when it comes to living in New York City.<br />
Is it really all about champagne wishes and caviar dreams? While living in a multimillion-dollar home has its perks, it&#8217;s also a lot of financial responsibility. Some new homeowners overlook the details and work required to own a luxury home. However, it&#8217;s often worth the upkeep.<br />
&#8220;Real luxury living is the features and the peace of mind and luxury of a hotel but the warmth and hominess of your own home and your 25 staff members,&#8221; says Wendy J. Sarasohn, senior vice president of residential real estate firm Corcoran Group, which serves New York City, Long Island, N.Y., and Palm Beach, Fla. Its clients range from Wall Street bankers to entertainment industry moguls.<span id="more-35"></span><br />
Pampered in Privacy<br />
For luxury homeowners, it&#8217;s all about amenities, and luxury living in New York City is all about privacy and security, Sarasohn says.<br />
&#8220;No one comes into the lobby of the apartment building without being screened or announced,&#8221; Sarasohn says. &#8220;The buildings have beautiful lobbies filled with fresh flowers, a white-gloved doorman and a car greeter. It&#8217;s a very stressless lifestyle. Most of the buildings offer mind-boggling views of the city so that you&#8217;re physically and psychologically above it all. You have silence and a feeling of being powerful.&#8221;<br />
Other amenities include first-class spas with private massage rooms, swimming pools, nail services and other beauty and fitness services. If you don&#8217;t want to have your manicure and pedicure downstairs, you can have it in your apartment. As for groceries, the concierge will fill your refrigerator with whatever you need. Most luxury apartments also feature radiant floor heating, wine coolers and state-of-the-art kitchens. The buildings also provide party rooms so you can entertain guests in your building but outside of your apartment.<br />
The Price of Luxury Living<br />
A luxury homeowner in New York who prefers to remain anonymous (most of them do) describes his property in the esteemed Hamptons. Purchased incomplete in 2005 for $2.8 million, the 11,500-square-foot home features an infinity pool, an attached 15-person whirlpool, a cinema that seats nine, full-size gym, billiards room and full-size bar. He says he put more than $650,000 into the home&#8217;s lavish details.<br />
The homeowner visits his Hampton home weekly during the summer and every two weeks in the off-season. Even when he&#8217;s working in New York City, his home in the Hamptons is regularly maintained. Including electric, landscape, pool maintenance and other utility bills, he estimates spending about $5,000 each month just for upkeep. Add that to the $8,000 each month he spends on his primary home in Manhattan.<br />
With all his expenses, he admits budgeting is very important for any luxury homeowner, no matter what state the economy is in. &#8220;You have to pay close attention to where you&#8217;re putting your money,&#8221; he says. &#8220;Real estate still remains a good investment. Even though things are deteriorating, now is still a good time to buy. The decline of the stock market is far more severe than the decline of housing.&#8221;<br />
He advises that now is the best time to purchase a luxury home, but buyers who are purchasing solely for investment purposes should be cautious and figure in the price of running and preserving the home.<br />
&#8220;Make sure you have not only figured the cost of home and mortgage, but also the utilities and maintenance,&#8221; he says. &#8220;This is important in calculating the home&#8217;s affordability. Also, you would want to buy in an area that you feel has a good growth potential. I felt that the Hamptons were a good investment at the time. Individuals who want to purchase purely for investment need to be careful. You must take into consideration that most luxury homes do not have a high turnover rate.&#8221;<br />
All things considered, owning a luxury home certainly has its perks. But keep in mind that the home price is just the beginning of what you should expect to pay. Luxury living is not just about buying an expensive property. It&#8217;s a lifestyle that requires maintenance and responsibility, no matter if it&#8217;s an apartment with a terrace on the top floor, an antique estate on 200 acres of lush green property or a waterfront mansion steps away from turquoise waters and velvety sand.</p>
]]></content:encoded>
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		</item>
		<item>
		<title>Urban Homes Offer a Modern House within Your Favorite City</title>
		<link>http://www.amrevista.com/urban-homes-offer-a-modern-house-within-your-favorite-city/</link>
		<comments>http://www.amrevista.com/urban-homes-offer-a-modern-house-within-your-favorite-city/#comments</comments>
		<pubDate>Thu, 11 Mar 2010 10:54:57 +0000</pubDate>
		<dc:creator></dc:creator>
				<category><![CDATA[urban living]]></category>
		<category><![CDATA[advantage]]></category>
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		<guid isPermaLink="false">http://www.amrevista.com/?p=23</guid>
		<description><![CDATA[While some people may prefer to buy a home and raise a family outside of the city, many others are choosing to stay inside the city limits.  Urban home plans are designed to help conserve a city’s green space while providing a chic housing style for homeowners. You will never see two urban house [...]]]></description>
			<content:encoded><![CDATA[<p>While some people may prefer to buy a home and raise a family outside of the city, many others are choosing to stay inside the city limits.  Urban home plans are designed to help conserve a city’s green space while providing a chic housing style for homeowners. You will never see two urban house plans with the same design or style. Custom home designers are able to work with the property holder to create each room to match their living style while efficiently using the space allowed.</p>
<p>Owners Provided with Numerous Styling Options</p>
<p>Custom urban home plans are highly desired by those that want to live in a city and still have a say in how the home is constructed. There are many different features that can in incorporated into the home for a unique look. Urban architecture generally follows some of the same characteristics that loft homes use. High ceilings with many windows are common elements designers utilize. <span id="more-23"></span></p>
<p>Unlike other housing options, urban home designs won’t be limited to certain design features because of community restrictions or landlord rules. You will own every part of the house, which gives you countless options when it comes to developing both the interior and exterior design. Urban housing development is very functional so that every area of space is efficiently used. Open floor plans with multi-level living space creates spacious rooms that are well lit with natural sunlight.</p>
<p>Green living can easily be incorporated into urban homes. In fact, people that choose to live in the city are already playing a huge role by not taking away from natural land. Custom urban home architects can use recycled and non-toxic materials to give you and your family safer breathing air. Taking advantage of the convenient public transportation will save money on gas and maintenance of your car, while additionally reducing the amount of toxic fumes in the air. </p>
<p>Inner City Living Appeals to Professionals of Any Age</p>
<p>With the cost of living on the rise, many people don’t want to spend the gas it takes to drive to and from their job in the city. Luckily, urban houses provide families with a chic and resourceful residence that allows them to enjoy being close to popular city attractions, such as upscale bars, restaurants, or shopping centers. Money can be spent on other things rather than expensive gas, while still owning a home that is full of sophisticated style. For those that want to own a house but can’t imagine moving out of your favorite city, an urban house can be the perfect solution.</p>
<p>With so many advantages, it’s no wonder why people are moving back to the city and working with professional architects to design a home with urban style. They are extremely functional by using the interior space as efficiently as possible. They can follow numerous green building techniques that help preserve the planet’s resources while creating a healthier environment for adults and children. Urban homes are located in areas that are close to a wide range of eateries and stores that aren’t found outside the city. Choosing an area where you can live, work, and play can fascinate people in any stage of their life, which is why urban housing has become so trendy.</p>
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		</item>
		<item>
		<title>Trending Towards Urban Living</title>
		<link>http://www.amrevista.com/trending-towards-urban-living/</link>
		<comments>http://www.amrevista.com/trending-towards-urban-living/#comments</comments>
		<pubDate>Thu, 11 Mar 2010 10:54:25 +0000</pubDate>
		<dc:creator></dc:creator>
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		<guid isPermaLink="false">http://www.amrevista.com/?p=21</guid>
		<description><![CDATA[A growing migration out of the suburbs is leading to higher demand for urban properties
High fuel prices and walkability are key factors in many downtown buyers&#8217; decision.
The quintessential American dream used to include a suburban house with big yard, but homebuyers are increasingly dreaming of a walkable urban lifestyle along with their dog and two [...]]]></description>
			<content:encoded><![CDATA[<p>A growing migration out of the suburbs is leading to higher demand for urban properties</p>
<p>High fuel prices and walkability are key factors in many downtown buyers&#8217; decision.</p>
<p>The quintessential American dream used to include a suburban house with big yard, but homebuyers are increasingly dreaming of a walkable urban lifestyle along with their dog and two kids.<br />
Flight from urban areas began after World War II, when thousands of returning soldiers and their young families needed inexpensive housing. In Leviitown, an early Long Island, N.Y., suburb, developers built more than 17,000 virtually identical Cape Cods. The development served as a model for later &#8216;burbs, and the middle class migration out of the city continued until a peak in the 1980s. <span id="more-21"></span><br />
A decade ago, downtown dwellers were rare outside metropolitan hubs like Philadelphia, New York and Chicago. Today, even in a struggling real estate market, property values are high for downtown listings &#8212; and so is buyer demand.<br />
&#8220;The housing market collapse really hasn&#8217;t impacted Denver urban buyers. Inventory is low, and lots of buyers are sitting on the sidelines waiting for a property,&#8221; says John Skrabec, owner of Live Urban Real Estate in Denver, Colo. &#8220;If a downtown home is priced right and shows well, it sells quickly.&#8221;<br />
So what&#8217;s driving buyers towards the city? Changing demographics are part of the puzzle. The children of the first generation of suburbanites are now aging empty-nesters, and they&#8217;re increasingly trading in their plot of land in the suburbs for sleek downtown condos. The birth rate dropped by almost 50 percent between 1950 and 2000, so there are fewer families with children to fill the spots in suburbia.<br />
Rising fuel costs are another major factor. After payments on mortgages or rent, owning and driving vehicles is the second-biggest expense for most households.<br />
Housing costs tend to fall as you move further from urban employment centers, but transportation costs rise. Once you reach a certain distance, typically 12 to 15 miles from the city center, the increase in transportation costs outweigh the housing savings, according to a report from the Center for Neighborhood Technology. As fuel costs rise, living in the suburbs gets more and more costly.<br />
Living in a walkable area with access to public transit also decreases the total number of miles you drive per year. According to the Housing and Transportation Index, an average downtown dweller in Boston&#8217;s Roxbury neighborhood drives average 7,000 miles per year. Though Dedham, Mass. is still in &#8220;greater Boston,&#8221; drivers there log almost three times as many miles on the odometer &#8212; an average of 20,500 per year. Urban living can save you thousands of dollars per year in fuel costs and vehicle maintenance.<br />
The price difference makes the old real estate adage &#8220;drive till you qualify&#8221; seem as &#8220;outdated as buying a gas-guzzling SUV,&#8221; quipped a recent article from the Congress on New Urbansim. In a June 2008 Coldwell Banker survey, 78 percent of sales associates said that rising gas prices are increasing their clients&#8217; desire to live in an urban setting. The agents also said clients had increased interest in walkable communities with access to public transit.<br />
For the same reasons &#8212; walkability, shorter commutes and access to amenities &#8212; new urbanist towns and mixed-use suburban developments are becoming another attractive option for buyers. Throughout the United States, small neighborhoods that combine residential, retail, cultural and educational spaces, like Kentlands, Md.; Celebration, Fla. and Stapleton, Colo. are gaining in popularity.<br />
&#8220;If gasoline and heating costs continue to rise, conventional suburban living may not be much of a bargain in the future, said Christopher B. Leinberger, an urban land use expert and real estate developer, in a recent article in The Atlantic Monthly. &#8220;And as more Americans, particularly affluent Americans, move into urban communities, families may find that some of the suburbs&#8217; other big advantages &#8212; better schools and safer communities &#8212; have eroded.&#8221;<br />
Over the next 20 years, developers will likely produce many millions of new and renovated townhouses, condos and small-lot houses &#8212; as well as modify current large-lot suburbs &#8212; to meet changing demands.</p>
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		<title>Top 10 Expert Tips for Buying a Luxury Home</title>
		<link>http://www.amrevista.com/top-10-expert-tips-for-buying-a-luxury-home/</link>
		<comments>http://www.amrevista.com/top-10-expert-tips-for-buying-a-luxury-home/#comments</comments>
		<pubDate>Thu, 11 Mar 2010 10:53:47 +0000</pubDate>
		<dc:creator></dc:creator>
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		<guid isPermaLink="false">http://www.amrevista.com/?p=19</guid>
		<description><![CDATA[	From a brand-new Trump condo and a historic Newport estate to a golf course community in the South, there&#8217;s a plethora of choices in high-end homes. Consider these tips from luxury home market pros before buying your dream home.
1. Learn the search process.
&#8220;Many luxury homes go unlisted to protect a seller&#8217;s privacy. These properties are [...]]]></description>
			<content:encoded><![CDATA[<p>	From a brand-new Trump condo and a historic Newport estate to a golf course community in the South, there&#8217;s a plethora of choices in high-end homes. Consider these tips from luxury home market pros before buying your dream home.<br />
1. Learn the search process.<br />
&#8220;Many luxury homes go unlisted to protect a seller&#8217;s privacy. These properties are often found through the Realtor&#8217;s personal connections as opposed to the MLS.&#8221; Virginia Cook, Virginia Cook Realtors, Dallas<br />
&#8220;You may need to go to more online sources as not everything is on the large search engines.&#8221; Ronald Phipps, Phipps Realty, Warwick, R.I.<br />
2. Go beyond the photos.<span id="more-19"></span><br />
&#8220;Make sure you don&#8217;t dismiss properties based on their front elevation photos. Many large homes aren&#8217;t photogenic that way and you have to see them in person to appreciate. I recommend my clients do a search of the property and vicinity on Google Earth so you can see what&#8217;s around the home.&#8221; Ronald Phipps, Phipps Realty, Warwick, R.I.<br />
3. Work with a local expert.<br />
&#8220;It&#8217;s critical to have a good buyer agent who is familiar with the area you want to buy in. There&#8217;s a bit more control on access to high-end properties in terms of fewer open houses and more appointments have to be made to see them.&#8221; Elizabeth Blakeslee, Coldwell Banker Residential Brokerage, Washington, D.C.<br />
4. Bank on your relationships.<br />
&#8220;I strongly recommend you go to the bank you have a relationship with. They have your portfolio already. Also, know the difference between the pre-approval letter and the prequalification letter.&#8221; Nancy Suvarnamani, Century 21 SGR Inc., Chicago<br />
5. Document everything.<br />
&#8220;There is more scrutiny today in the high-end market. Financial documentation is critical. Anyone who is making a lot of money has a manager or an accountant and tries hard to shelter their money so it can be difficult to show the bank you have the income.&#8221; Steve Goddard, RE/MAX Beach Cities Realty, Manhattan Beach, Calif.<br />
6. Hire smart, reliable advisers.<br />
&#8220;A good Realtor won&#8217;t make the client&#8217;s decisions but will make suggestions. Pay attention to your financial planner and Realtor that you trust. They should agree on what you should be doing and if they don&#8217;t, arrange a meeting.&#8221; David Boyer, Jack Woodcock Team, Las Vegas<br />
7. Don&#8217;t forget about title insurance.<br />
&#8220;You need to get title insurance so you&#8217;ll be insured against any problems that were forgotten about. You want to make sure you have a chance to have a look at the exceptions page of the title insurance process before closing time.&#8221; Moe Veissi, Veissi &#038; Associates, Miami<br />
8. Look into the future.<br />
&#8220;Make sure you know what building is planned around you. What happens if someone pushes the bar and builds another building even taller?&#8221;<br />
&#8220;Know the timeline. You don&#8217;t want to tie your cash up for a long period of time if there are any kinds of construction delays.&#8221; Alexander Chaparro, @properties, Chicago<br />
9. Know what to expect with cooperatives and condominiums.<br />
&#8220;For co-ops and condos you want to be represented by an attorney who will research the building on its financial viability.&#8221; Klara Madlin, Klara Madlin Real Estate, New York City<br />
10. There&#8217;s room to negotiate.<br />
&#8220;It&#8217;s individual points, the view or remodeling that makes these properties one of a kind and makes them able to command a particular price. Have your agent research the comparable properties that have recently sold, getting closing prices, right before you make an offer.&#8221; Fanny Y. Chu, Prudential California Realty, San Francisco</p>
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