by Roberta Murphy

We have noted a decided uptick in our own luxury real estate market in San Diego.  Home shoppers from Europe, Canada, Mexico, Asia and the United States seem to have collectively decided that now is the best time to invest in coastal San Diego–in communities ranging from Coronado and downtown San Diego to La Jolla, Del Mar, Solana Beach and Rancho Santa Fe.

Apparently, this is a growing trend, as can be seen by this infographic that shows recent luxury home trends throughout the United States.  Anecdotally, we are hearing the same from luxury real estate brokers in Florida, Colorado, and other states.

As you can see, biggest gains in luxury home sales occurred in the Western states, followed by the Noetheast, the South and trailed by the Midwestern states.

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A couple of years ago we were buzzing about the possibility of Slumburbias–where Baby Boomers were abandoning cul de sacs, suburbs and the McMansions battled for a decade ago. Instead, they wanted something smaller, something in a walkable neighborhood, something that didn’t require 100 square feet devoted to lawn mowers, clippers and tools.

They still long for the freedom to lock and go, the freedom to travel, the freedom from having to care and climatize square footage they don’t even visit for weeks at a time. Kids have either moved on or are hanging on and something without a grand staircase sounds mighty inviting to knees that remember prior injuries.

Today, CNBC reports that the McMansions, Starter Castles, Garage Mahals and Faux Chateaus–or whatever you want to call them —are history. These days, few are seeking 4000 square foot  two-story boxes that sit 15 feet from their neighbor’s Plan II Tuscan with 3800 square feet–each with granite and stainless kitchens, epoxied garage floors and mind-numbing sameness. The article goes on…

Just 9 percent of the people surveyed by Trulia said their ideal home size was over 3,200 square feet. Meanwhile, more than one-third said their ideal size was under 2,000 feet.

“That’s something that would’ve been unbelievable just a few years back,” said Pete Flint, CEO and co-founder of Trulia. “Americans are moving away from McMansions.”

We are seeing much the same in our San Diego real estate practice. There is great demand for single story homes, neighborhoods where one can walk to a store, where life can be simpler and more easily managed.  And, of course, it also helps if this downsized San Diego home has the luxury of sitting on the beach–or fronting the golf course at La Costa, Fairbanks Ranch or Rancho Santa Fe.

You may also wish the read:

7 Bargaining Secrets for Luxury Home Buyers

Homes for Baby Boomers: What Do They Want?

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Sometimes you walk into a home, sense both timeless soul and serenity–and can’t help but smile.

We recently listed such an estate in the beautiful hills of Vista, California. Its current and original owners are a spirited and beautiful international opera singer and her dashing husband, a retired professor of art. With loving attention to detail, it seems nothing was missed in the completion of this luxurious 2003 custom home.

When I first walked into the home, I was struck by the use of old and rich colors, antique woods, the graceful wood and iron staircase, and light classical music that filled the rooms.

At first glance, I knew this home would be exceptional.

The gated hilltop setting offers both ocean and mountain views–as well as quiet privacy. The home’s flexible 4000+ sf floorplan has volume ceilings that carry classical music well, a grand foyer, large living and music rooms, multiple dining areas, and a kitchen Alice Waters might envy.

Upstairs, we discover a substantial master suite with an adjoining study, large dressing room and bath, spa tub, and large, organized closets. A romantic trellised balcony overlooks both the mountains and ocean horizon, while the two-way fireplace warms both the bedroom and bath areas. Three other large bedrooms and an open bridge complete the upstairs.

The bones of a home may be magnificent, but inspiring beauty comes from surfaces, windows, doors, lighting, amenities, color and textures. I share clients’ enthusiasm when all of these elements come together.

This timeless home lacks nothing and blends all elements well. It has rich Tuscan colors, art niches and unfluted columns. It beautifully blends the use of stone, iron and woods, and offers contemporary conveniences such as central vacuum and a discreet kitchen vent that captures broom sweepings.

Outdoors is a large covered patio, lawn, gardens and small acreage for hobbies, horses or arborists.

I have often thought that equestrian homeowners in Poway, Rancho Santa Fe and Fallbrook who were displaced by the recent San Diego fires might find this timeless property of interest.

Located on highly-desired Elevado Street in Vista, this estate is reasonably offered at $1.5 million by owners who are anxious to retire in Crete.

We intend to help them accomplish this dream–and look forward to having terrific clients in such a wonderful corner of the world.

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by Roberta Murphy

There is a class of homes that can only be called, for lack of a better word, the ultimate. These are the extreme and exceptional estates that are among the most expensive in the world. To call them luxury homes is an understatement. These properties have singular presence and price tags that now exceed nine figures.

This year, all barriers were broken. Donald Trump’s lavish seven-acre estate in Palm Beach, Florida was the first home to blast through the $100 million list price barrier with a price tag of $125 million. Boasting a 54,000 square foot main house, 24 karat bathroom fixtures and 475 feet of ocean frontage, the home held singular listing price status.

But not for long, because records are set to be broken. Nine figures are here.

A home in Aspen, Colorado was listed for $135 million. Owned by Saudi Prince Bandar bin Sultan, Hala Ranch’s  56,000 square foot residence sits on 95 acres and has its own car wash, gas pumps, stables, tennis courts, snowmelt driveways and indoor pool. The sale is reportedly being handled by Joshua Saslove, whose company is an exclusive affiliate of Christie’s Great Estates.

Last summer it was reported by TMZ that Candy Spelling, widow of the late Aaron Spelling, has quietly put their legendary 56,000 square foot, 123-room Holmby Hills mansion on the market for $150 million. Sources say the Westside Estate Agency (WEA) has the pocket listing and that the property is being discretely shopped among Realtors and their potential buyers.

Who buys these luxury homes?

Laurie Moore-Moore, founder and President of The Institute for Luxury Home Marketing, says, “The current world record for the most expensive residence was set in 2004 when a London home sold for $128 million. While Prince Bandar’s property may break that record, don’t look for it to happen quickly. Despite the increase of personal wealth worldwide, there are few buyers internationally who are in a position to purchase a property of this magnitude.”

She goes on to say that it won’t just be the size and features that will attract a buyer, but the opportunity for that ultra-rich buyer to own one of the world’s most expensive residences.

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