by Roberta Murphy Last nights annual New Years Eve bash at the Murphy home was lots of fun for all, and almost everyone was ready to drop kick 2007 out the door and welcome the promise of 2008 with open arms. I thought 2007 had been put to rest (save for income tax drudgery); but when I opened todays email I discovered not one, but two 2007 accolades for Luxury…
Rooms and More Rooms in Luxury Homes
by Roberta Murphy What kinds of rooms might go into a luxury home? The possibilities are as varied as lifestyles. I recall a luxurious mansion in Houston’s lovely River Oaks that had, in addition to every other conceivable room, a luggage room. It was a sensible space that accommodated the traveling owner’s large collection of leather suitcases, trunks and garment bags. When a trip was planned, the butler would retrieve…
Dreaming of Costa Rica Luxury Real Estate….
by Roberta Murphy More and more people from around the world are choosing to spend at least part of their lives in coastal Costa Rica–and more than a few decide there just might be no better place to spend the rest of their lives. Why? 1. A warm climate, beaches, mountains, jungles–and breathtaking biodiversity. The people and government of Costa Rica are committed to preserving Costa Rica’s clean air, beautiful…
Luxury Builder Says 2007 Worst in 40 Years
by Roberta Murphy If real estate investors are looking for blood in the streets, they had better be wearing galoshes. Even the books of venerable luxury builder Toll Brothers, America’s largest luxury builder of tract homes, are in the red. For the first time in 21 years, the company is suffering its first quarterly loss (Oct. 31) in the amount of $81.8 million. Much of this loss can be attributed to…
Mortgage Rate Freeze: Who Wins and Who Loses
by Roberta Murphy This months hot real estate question: Which homeowners will benefit from President Bush’s recent interest rate freeze for subprime loans? And who will be left out in the cold? It’s a question on the mind of both mortgage and real estate professionals alike. Drumroll. The winners, who may receive a five-year extension (and possibly even longer) on their low introductory mortgage rates, are those: Whose mortgage loans…
Luxury Home Sales to Climb with Bonuses
by Scott Murphy Many top executives at large investment banking firms will be depositing some jumbo bonuses by the end of this month. Despite an overall bonus decrease of 10% due to months of multibillion-dollar bank write-downs and a spreading credit crisis, many will be pocketing some still-sizeable sums. Depending on which firm they work for and the position held, bonuses can range anywhere from up to $2 million to…
Real Estate Fraud: Cash Back and Consequences
by Roberta Murphy Opportunities for real estate fraud couldn’t have been more ripe than in 2005 and 2006, when real estate prices started to quietly soften–especially in fertile markets like San Diego, Phoenix, Las Vegas and Miami. Home prices in these areas had rocketed to unsustainable levels, and some of the micro markets within these areas had already started to stall as early as 2005. By 2006, market time and…
21st Century Clocks
by Roberta Murphy Thompson This futuristic clock doesn’t necessarily belong in the luxury home discussion, but it certainly provides some interesting global details: Abortions are far more prevalent than marriages. There are more divorces than HIV infections. Bicycle production still far exceeds auto production. Bicycle production also outpasses the manufacture of computers. Respiratory disease is far more prevalent than STD/HIV and AIDS. Suicides are more common than violent deaths. And…
San Diego and Detroit Make Strange Bedfellows
by Roberta Murphy Say what? In 2004, San Diego real estate was ranked as the least affordable in the United States. Thousands of San Diegans, priced out of the coastal market, moved to Temecula, Murietta and other outlying and inland areas where homes were more affordable. These days, according to the National Association of Homebuilders, San Diego has slipped to 16th place in California, with an improved 10.1 percent affordability…
Malibu Thanksgiving Wildfire Burning Homes
by Roberta Murphy The Malibu fire started early this morning just before 3:30 a.m. near Malibu Lake and Mesa Peak Canyon–and as of this writing, has destroyed over 35 homes. Propelled by strong Santa Ana winds and fed by dry brush and trees, this Thanksgiving weekend wildfire is currently out of control. Over 1500 acres burned in the first five hours as huge walls of fire and smoke raged through…
