Archive for the 'San Diego Luxury Homes' Category
Nouveau Luxury Home Buyers: Instapreneurs
Who are these young and ultra-affluent buyers of homes in Rancho Santa Fe, Palm Beach, La Jolla, Aspen and Manhattan?
Robert Frank, in his best-seller Richistan, calls them instapreneurs (didn’t he coin the term?).
These are the new titans in technologies, who have benefited from a rise in financial speculation and governments that support free trade and wealth.
Instapreneurs are not plodders when it comes to accumulating wealth. They don’t develop companies to last for family generation; rather, they may launch several companies over their career life spans. And the goal for each venture is a lucrative “exit strategy” that will create the fattest windfall possible.
What are these luxury buyers seeking when searching for their trophy home?
1. They are specific in their demands as to age of property, views, room volume, luxury closets, privacy, and entertaining areas.
2. Instapreneurs often wish to be near prestigious country clubs, where they can golf, play tennis and entertain business elite.
3. In San Diego, many of these nouveau uber-wealthy demand ocean frontage, ocean noise–and silent streets. Or the highest penthouse in downtown San Diego. The want what is rare, what is singular.
4. Instapreneurs often have children, and are concerned about the quality of nearby and private schools. How the home works for the kids can be of keen importance. Instaprenerual parents want safety, space and room for kiddie galas.
5. These luxury home buyers often have special room requests, such as a library, multiple offices, servant quarters, guest houses, snoring rooms, home gyms, massage rooms, a conservatory or even a panic room.
6. These busy people often demand to be not far from a major airport because of frequent travel demands and the desire to minimize time spent away from families.
We enjoy working with these interesting folk, not just because we enjoy finding perfect property fits, but also because of the stories we get to hear. Some have been scientists, some movers and shakers in technology, and some who just had the courage to pour everything they had into an idea whose time had come.
They all inspire and the world is a better place because of these producers.
read comments (12)Is Hacking a Restraint of Trade–or a Vicious Crime?
Deepest apologies to those of you who were unable to access Luxury Home Digest this past week.
It seems we were the victim of a malevolent hacking attack last Sunday night, whereby all of our content was deleted–on not only Luxury Home Digest, but San Diego Previews as well. Thanks to the tireless work of blogging gurus at the Real Estate Tomato, we have been able to restore most of our material.
And thanks to those who brought this site and our San Diego real estate blogsite down, I am now musing about the consequences for such actions.
Is attacking a website and deleting its content a crime? And if more than one attacker, a conspiracy?
Could such activity constitute a “restraint of trade” as defined by the Federal Trade Commission? Google definitions, as usual, provide some clues:
1. Descriptive of unreasonable acts or contracts which prevent a person from carrying on, or engaging in, their profession.
www.aapa.org/manual/judicial/glossary.html
2. Combinations, contracts, or other oral or written arrangements designed to establish a monopoly position, impede competition, fix prices, or prevent entry by potential rivals. …
www.itcdonline.com/introduction/glossary2_q-z.html
3. Monopolies, combinations, and contracts that impede free competition.
www.crfonline.org/orc/glossary/r.html
4. Any act that tends to prevent free competition in business
wordnet.princeton.edu/perl/webwn
5. Restraint of trade is a restriction on a person’s freedom to conduct business in a specified or unspecified location for a specified or unspecified length of time. Such restrictions are normally enacted by contracts. …
en.wikipedia.org/wiki/Restraint of trade
Yes, our San Diego real estate business was impeded, and we were prevented from carrying on in our profession in a normal manner. Clients were unable to search for San Diego properties on our sites and we were blocked from our online business for several days. Searchers for luxury home news were certainly forced to go elsewhere when we were offline.
And if restraint of trade is “any act that tends to prevent free competition in business,” or places “a restriction on a person’s freedom to conduct business in a specified or unspecified location for a specified or unspecified length of time,” then restraint of trade is what I will politely and publicly call last Sunday night’s massacre.
Under my breath, though, other expletives words and descriptions are uttered.…
Most Expensive Mansion in the World: Redux
Last year, I wrote a short article about the worlds most expensive mansion in Mumbai, India being built by uber-wealthy Mukesh Ambani.
In addition to arguably being the most expensive private home in the world (how about $1 Billion to build?), it will also be the tallest measuring in at 42 stories. Residence Antilla, though, will only have 27 stories, due to Ambanis desire for taller ceilings.
Mukesh Ambani is reported to be the 14th richest man in the world, with estimated personal wealth of around $21 billion. He is also one of the more visible men of wealth in India.
When completed, the high-rise mansion will also be one of the most visible (and discussed) mansions in all of Mumbai, if not India and the rest of the world.
Designed to house Ambanis fortunate family of six and a doting staff of 600, this enormous mansion will also have six floors dedicated to pampered storage and parking for a collection of at least 168 automobiles. Included in this magnificent residence will also be a full-service spa, fully-equipped gym, a home theater that should turn Hollywood moguls green, and multiple floors set aside for visiting dignitaries and guests.
The family will have to make do with the top four stories set aside for their viewing and living pleasure.
Completion date was initially set for Fall, 2008, so well keep an eye on its progress.
In the meantime, I am hoping for an invitation to the Ambani housewarming gala.
La Costa Villas Offer Big Investor Bonus
Investors are moving back into the San Diego real estate market with impatient wallets. And luxury real estate investors are no exception.
They are seeking well-priced foreclosures, pre-negotiated short sales and most favored of all: Real estate investments with income streams.
So-called bargains in sub-marginal areas may not be the wisest real estate investment move anywhere. Perceived bargains in outlying markets may be nothing of the sort, and we persistently advise our clients to stay with blue chip real estate investments especially in volatile economic times.
We just received a whisper from La Costa Resort and Spa in balmy Carlsbad, California that buyers of their Villas will receive up to $125,000 at closing for leasing their properties back to them for two years. And of course, there is always the option of using their condos too.
This is a very limited offer, as only 10 La Costa Resort Villas whole-ownership, luxury condominiums remain. Each is fully furnished (just pack a toothbrush) with designer decor and high-end amenities throughout, and is located on the grounds of the world-class La Costa Resort and Spa.
Low out-of-pocket expenses enable resort ownership for minimal cost.
One-bedroom luxury condos start at $594,825, while two-bedroom units list for up to $1,033,000. With 75% financing, buyers can claim ownership with considerably low out-of-pocket expenses of up to $125,000. Plus, La Costa management will also waive monthly fees for two years to save La Costa Villa buyers even more.
A bonus of complimentary Villas Signature La Costa Sports Membership, valued at $16,500, is also included.
If you are interested in this exceptional value, please call Mike or Roberta Murphy for additional information at 760-402-9101 or 760-402-9102. We are including some luxury spa treatments for our buyers as well.
A Luxury Home Bargain: Rancho Santa Fe Farms
by Scott Murphy
Discriminating luxury home buyers in the San Diego area are starting to raise sophisticated eyebrows at some of the better real estate buys in luxury neighborhoods such as Rancho Santa Fe.
One of the best buys on the market these days is a magnificent 4-bedroom, 4.5-bath single story estate on two level acres that was recently remodeled. This Rancho Santa Fe Farms home features a lagoon pool, a citrus grove, fine hardwood flooring and a 4-car garage,and is now available for $2,195,000 or the price of a luxury tract home in coastal San Diego.
Rancho Santa Fe Farms is a favorite for golfers who appreciate equity membership in the Rancho Santa Fe Farms Golf Course, or for those who simply want a home sitting on some of the finest acreage in San Diego County.
Located at 15032 Rancho Santa Fe Farms Road, this residence listed by Danny Powers of Villa Sothebys International Realty will be held open this weekend. For additional information, please call Scott Murphy at 760-613-6190 or meet me at the home this afternoon!
