Luxury real estate gossip the last few months has fluttered around topics like the sale of Donald Trump’s Palm Beach mansion at $100 million (when it had been listed for $125 million), the pending foreclosure of Ed McMahon’s Beverly Hills home, and the F-word in luxury real estate (foreclosures).

These days, recession is the hot topic as brokerage accounts have been bloodied, home equities have declined, and credit cards are filling up with gasoline charges. It’s no wonder that it’s now fashionable to talk about frugality. And these discussions are leading to real changes in lifestyle.

Some very random observations and sensible advice:

1. Hybrids are the cool cars. Gasoline guzzling Beamers and Mercedes are being traded in for fuel-sipping and leather-seated hybrids. In some areas, there are wait lists of months for the Toyota Prius.

2. Have adjustable rate mortgages on your home or other properties? You may want to consider financing that will carry you through the financial storms ahead. Values are slipping in many luxury real estate markets–and appraisals may become problematic in the year ahead. Just my opinion, of course.

3. Are fewer Americans traveling to Europe? We’ve known several who have canceled European holidays and are traveling locally–or to Asia instead. Nobody wants to spend decimated dollars in a in a Euro-pumped economy. US dollar exchange rates against the Chinese Yuan are far more attractive.

4. A bright note in the economy are the number of Europeans, Canadians and others who are coming to the United States to shop not only Neiman Marcus and Chanel, but to spend those Euros and Loonies on prime US real estate. Homes in San DIego, Palm Beach, Scottsdale and Las Vegas are phenomenal bargains when purchased with these foreign currencies.

5. A number of affluent baby boomers are scaling back. They are aiming to trade their large suburban homes for something smaller, something single level, and something that is in walking distance to beaches, golf, restaurants, and mass transit. Trains, in particular, have captured the fancy of many,

6. This is only buzz, but I am hearing that many are dropping and/or selling country club memberships–and that there are reportedly thousands for sale in golf heavens like the Palm Springs area. Any other information out there?

7. More people appear to be dining at home. In the La Costa area where we live, both Tommy V’s and Sushi on the Rock have shuttered their doors. These were bustling restaurants just a year ago. It is likely a scenario that repeats itself throughout the country. And is it just my imagination, or do the local farmer’s markets seem to be busier this year? Perhaps people are rediscovering the utility of their own lovely kitchens.

Somehow, I think there will be future articles and lots of discussion on frugality in our lifestyles.

After all, consider the real estate and stock market bargains that might be bought with the money saved….

The post The Luxury of Frugality appeared first on Luxury Home Digest.

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.

The post La Costa Villas Offer Big Investor Bonus appeared first on Luxury Home Digest.

Azulera Resort Village on Costa Ricas breathtaking Guanacaste coast promises to be the luxury resort destination within the next two years.

By then, it is projected, Greg Normans challenging beach-to-mountain golf course will be completed as will the five- star Hyatt Regency Hotel and the 64 ultra-luxury condos that will be contained within this gated Brasilito complex.

The bio-sensitive Hyatt Regency Azulera Resort and Spa will coexist within a pristine tropical forest that stretches from mountain peaks to the white Pacific beaches below.

Following this first phase of development will be a large shopping and medical plaza and another projected 1000 condos, town homes and ocean view luxury estates.

We just returned from visiting the site and watched as Azulera owner-developer Anil Kothari (CEO Global Financial Group), golf legend Greg Norman, Hyatt executives, and Costa Rican Ministers of Transportation, Environment and Energy, and Tourism gathered for the formal groundbreaking ceremony that was finalized with the planting of a native Guanacaste tree near the beach.

We joined about 30 other real estate brokers from the US and Canada for the ceremony, and would spend the next few days learning more about the province of Guanacaste and this precious paradise. The spectacular natural beauty of the area struck us all, as did the gentle warmth of the Costa Ricans and, of course, the balmy climate. We learned that there is more biodiversity in Costa Rica than along the Amazon. This is because the climate is both sub tropical and tropical, and a varied terrain that ranges from plains to beach to jungle to mountains.

We all appreciated that Costa Rica is both a highly-educated country and one that fiercely protects its flora and fauna. Hunting is not allowed, and children are taught from an early age to treasure their natural environment, which includes magnificent foliage, various breeds of wild monkeys, parrots, macaws, and other exotic birds, along with reptiles of all sorts including iguanas and red-eyed lizards.

The Guanacaste coast is being developed with great care. The Four Seasons has developed a private resort to the north, Marriott is building a golf resort in nearby Pinellas and the Ritz Carlton is planning a luxury hotel with golf course and a 200-slip marina to the north of Azulera.

And just last month, Steve Case, founder of America Online (AOL) announced plans to open an $800 milllion beach resort with two boutique hotels just south of Playa Hermosa. At around the same time, two Minnesota developers announced that they would also be building a 150-room Regent Hotel on Guanacastes Papagayo Peninsula.

Guanacaste is a Costa Rican province abuzz with carefully-planned and eco-sensitive luxury development and we are honored to be among those representing the developer in the sale of the 64 Azulera luxury condos.

Additional articles about Azulera Resort Village, Guanacaste and Costa Rica will be forthcoming.

In the meantime, if you would like additional information about Azulera condo availabilities and pricing, please feel free to email me (roberta@sandiegopreviews.com) or call 877-818-8197 or 760-402-9101.

Read also:

Dreaming of Luxury Costa Rica Real Estate

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