luxury real estate

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In the world of real estate, where property expertise reigns supreme, it comes as little surprise that the most successful real estate agents own some of the most remarkable and envy-inducing residences.

With their extensive knowledge of market trends and investment potential — not to mention their keenly trained eye for luxury living — real estate pros are the first to spot desirable properties, often before they are even listed for the general public to see.

They then leverage their design expertise and Rolodex of industry connections to turn their homes into personal sanctuaries that serve as living testaments to their industry acumen and discerning tastes.

Such is the case of Billy Rose, realtor to the stars and co-founder of luxury real estate brokerage, The Agency.

Rose, rated as one of the best real estate agents in Los Angeles (and the entire country, once being named the Number 10 real estate agent in the U.S. by The Wall Street Journal), owns an architecturally distinct home in one of Los Angeles’ best areas, which he’s now bringing to market.

Priced at $5,895,000, the elegant abode has served as Billy Rose’s personal residence for 20 years.

Located in the sought-after Westword neighborhood, the property sits on the “first lot bought in highly coveted Westwood Hills”, per the listing, and is known as the Murrow Residence, named after its original owners.

Rose himself provided a little bit of background on the home’s history.

“The Murrows considered the lot to be the trophy of Westwood Hills,” Billy Rose tells us. “Mr. Murrow, for whom the home was built, was (as I understand it) a bit of a “mucky muck” at the Rand Corporation. He had rigged the front door such that he could attach a 35mm projector to the door and project through to the living room.“

But it’s not just the location that appealed to The Agency co-founder.

The home’s distinct design played a big role too. The 1940-built residence is an outstanding example of International Style architecture (post Deco and pre Mid-Century Modern).

Photo credit: The Agency

“I find International Style architecture to be sublime,” Billy Rose shared in an exclusive comment for Fancy Pants Homes. “The style is best described as stripped of all unnecessary ornamentation and about accentuating the strengths of the home (the view, the layout, the light, the circulation, the air flow). Le Corbusier (one of the pioneers of what is now regarded as modern architecture) summed it up best when he called a house a “machine for living”.“

Vintage and collectible lighting, designer finishes, and terrazzo and custom-milled walnut floors complement the home’s unique style, while broad expanses of glass in every direction bring the outdoors in.

Photo credit: The Agency
Photo credit: The Agency
Photo credit: The Agency

The house has a total of 5 bedrooms — all suites — with the primary being touted as “one of the best primary suites in its class with extremely generous dual closets and baths”, per the listing.

Photo credit: The Agency
Photo credit: The Agency
Photo credit: The Agency

The inviting chef’s kitchen has its own claim to fame.

“My wife is a chef and she filmed her show “Taste of Melrose” from there,” shared Rose whose wife, model-turned-chef Melissa Rose, has been filming her cooking show in their camera-ready kitchen for years.“It was not only a great exhibition kitchen, but it served us well for our numerous dinner parties.”

Photo credit: The Agency
Photo credit: The Agency
Photo credit: The Agency

When prompted to pick his favorite area of the house, The Agency co-founder signaled out the primary bedroom suite, along with “the original stairway, with its two-story Torrance steel window system“, which he says was one of the things that drew him to the property.

Photo credit: The Agency

Heading outside, we find a secluded backyard oasis with a cascading pool, spa, fire pit, grassy yard, dining and lounging areas, with mature landscaping, tall hedges, and privacy walls shielding it from prying eyes.

Photo credit: The Agency
Photo credit: The Agency

Unsurprisingly, Billy Rose holds the listing along with Stefan Pommepuy, also with The Agency.

And while Rose hasn’t yet been part of the cast of Buying Beverly Hills, the Netflix series starring agents from the luxury real estate brokerage he co-founded alongside Mauricio Umansky, we’re hoping his house will — and that the second season of the show will give us a better look inside his inviting abode.

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Source: fancypantshomes.com

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Insurance executive Jawed Barna will succeed Sven Odia as the CEO of international luxury real estate brokerage Engel & Völkers, the company announced Thursday.

Odia, who led the Hamburg-based company for nine years, has stepped down from the management board and will assume the newly created role of president.

Barna most recently served as deputy CEO at Zurich Insurance Group Germany, where he has worked since 2005.

“We are excited to welcome Jawed Barna as a strong leader with a proven track record. His successful experience in building digital platforms and managing a complex sales organization makes him a perfect fit for E&V,” Christian Völkers, founder and chairman of the advisory board, said in a statement. “Together with our majority owner Permira, we are convinced that Jawed Barna has what it takes to lead E&V into the next phase of growth, with the goal of becoming the best platform for high-quality real estate worldwide.”

In his most recent role at Zurich Insurance Group Germany, Barna was responsible for driving sales and partnerships, and successfully led large business units serving private and SME clients, as well as managing thousands of external brokers and insurance agents, Permira, said.

In a statement, Odia, who has worked at E&V for 26 years, said he would “actively support” Barna.

“With its strong growth and digitization strategy, E&V is perfectly positioned to continue its success story,” he said. “We have significantly increased revenue and earnings in recent years and look back on a stellar performance in 2023 so far, even in a difficult market environment. Throughout my career, my top priority has always been empowering people to write their own success story under the E&V brand. I would like to express my heartfelt gratitude to the entire team worldwide for the terrific collaboration over the past two decades.”

Odia led E&V through Permira’s acquisition in late 2021, in which the global private equity firm bought a controlling stake for an undisclosed amount.

Operations for E&V North America are led by Anthony Hitt, who’s been at the helm since 2014.

The global luxury real estate brand recently partnered with Dilbeck Real Estate, which achieved $1.04 billion in sales volume last year, according to the RealTrends 500 rankings. Dilbeck was #373 in the nation by sales volume last year, and its agents averaged $2.99 million in volume. Dilbeck ranked as the 178th largest independent brokerage in America in 2022 and nine of its agents cleared $16 million in sales volume last year, according to our rankings.

Under the arrangement, Dilbeck will retain partial ownership and oversee the day-to-day operations of Los Angeles and Ventura county locations.

Engel & Völkers Gestalt Group, based out of Park City, Utah, ranked as E&V’s top affiliate in the most recent RealTrends rankings. The affiliate posted $3.77 billion in sales volume last year, with the average agent generating $4.88 million.

Source: housingwire.com

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Engel & Völkers today announced its entrance into Castle Pines, CO. Turner Associates, an esteemed local real estate brokerage, will now do business as Engel & Völkers Castle Pines, and continue under the leadership of Travis Turner as its majority license partner and managing broker. For more than a decade, Turner has built a successful real estate business serving the Front Range, offering a comprehensive range of real estate services and specializing in residential, commercial, and investment properties. Joining him in management will be his sister and minority owner Katie Turner, as well as several additional experienced managing brokers. Building upon Turner’s existing success and a reputation for client satisfaction, market knowledge, and professionalism, the new shop will serve as a trusted choice for buyers and sellers in Castle Rock, Castle Pines, and across Colorado’s Front Range. 

“Colorado remains a foothold for our expansion in North America,” said Anthony Hitt, president and CEO of Engel & Völkers Americas. “Engel & Völkers’ continued growth in the region is a testament to the brand’s appeal and traction among both clientele and real estate professionals. With a shared commitment to delivering the highest standard of client service, Travis is the right partner to bring Castle Pines and its surrounding communities into the Engel & Völkers’ fold and continue to strengthen our presence in the Rocky Mountains and beyond.”

The real estate market for the Front Range of Colorado is a dynamic and competitive landscape, characterized by strong demand and limited inventory. Castle Pines and Castle Rock attract homebuyers and investors due to the stunning Rocky Mountain backdrop, thriving job opportunities, and outdoor recreational offerings. These markets are known for offering a range of upscale and luxurious properties. Castle Rock features spacious single-family homes, sprawling estates, and upscale townhomes, while Castle Pines is renowned for its exclusive gated communities and high-end custom homes, situated on large lots to offer privacy and a sense of luxury living within a serene and tranquil environment. Residents here enjoy a balance between an active outdoor lifestyle, with activities like hiking, skiing, and mountain biking, and access to world-class dining, shopping, and entertainment.

“As the market for luxury properties continues to evolve, Engel & Völkers’ proven track record and innovative marketing strategies position our team to capitalize on the growing demand for premium properties in Castle Pines and throughout the Front Range,” said Turner. “The Engel & Völkers brand delivers a strong global presence, unrivaled reputation, commitment to excellence, and network of experienced real estate advisors well-versed in the intricacies of luxury transactions. It is my hope that this partnership will energize the luxury real estate scene across the Front Range, foster innovation, elevate service quality, and reinforce our position as a premier destination for luxury living.”

To learn more visit castlepines.evrealestate.com.

About Engel & Völkers

Engel & Völkers is a global luxury real estate brand. Founded in Hamburg, Germany, in 1977, Engel & Völkers draws on its rich European history to deliver a fresh approach to luxury real estate in the Americas with a focus on creating a personalized client experience at every stage of the home buying or selling process for today’s savvy homeowner. Engel & Völkers currently operates approximately 300 shop locations with over 6,500 real estate advisors in the Americas, contributing to the brand’s global network of over 16,600 real estate professionals in more than 30 countries, offering both private and institutional clients a professionally tailored range of luxury services, including real estate and yachting. Committed to exceptional service, Engel & Völkers supports its advisors with an array of premium quality business services; marketing programs and platforms; as well as access to its global network of real estate professionals, property listings, and market data. Each brokerage is independently owned and operated. For more information, visit www.evrealestate.com.

Find topics in marketing, technology, and social media for realtors, and housing market resources for homeowners. Be sure to subscribe to Digital Age of Real Estate.

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Source: realtybiznews.com

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Are you an agent because you want to achieve financial freedom? Real estate can be a great way to do it—if you learn to leverage your commissions. Today’s guest, Michael Banovac, built an impressive net worth by putting his commissions back into his personal real estate portfolio. Listen and learn about the best ways to leverage your real estate knowledge, earnings, and brand to build your net worth fast. Michael also covers ways to win luxury listings, where to focus your time, and who to partner with when developing real estate.

Listen to today’s show and learn:

  • About Michael Banovac [0:47]
  • Michael’s start in real estate [3:17]
  • Buying and renting your first property [7:49]
  • How to get approved for a home loan as a new real estate agent [11:16]
  • Tracking your net worth [14:31]
  • Financial freedom [16:51]
  • Creating higher margins for less work in real estate [17:54]
  • Shelby Johnson’s first year in real estate [21:08]
  • How to get started with luxury listings and real estate development [21:41]
  • Location, location, location [24:29]
  • The best way to work the best real estate locations [25:31]
  • Grant Cardone’s best piece of advice for real estate agents [27:18]
  • Layers of legitimacy and cultivating your personal brand [28:46]
  • How to put yourself in the same room as successful people [33:25]
  • A big benefit to running a podcast [36:10]
  • Who to partner with when developing luxury properties [37:31]
  • The riches are in the niches [40:37]
  • Being selfish to become selfless [42:28]
  • Changing your mind to change your circumstances [45:38]
  • Where to find and follow Michael Banovac [46:29]
  • Michael’s final piece of advice for listeners [48:07]

Michael Banovac

Michael’s expertise encompasses Real Estate, Marketing, and Internet Entrepreneurship. He currently holds an Arizona Real Estate License with The Agency at EXP Realty and is partners with Tarek El Moussa (the star of HGTV’s Flip or Flop & Flipping 101).

He prides himself as the agent of choice for any professional seeking to buy or sell residential real estate in Arizona. In 2007, he was awarded the President’s Volunteer Service Award from President George W. Bush.

Related Links and Resources:

It might go without saying, but I’m going to say it anyway: We really value listeners like you. We’re constantly working to improve the show, so why not leave us a review? If you love the content and can’t stand the thought of missing the nuggets our Rockstar guests share every week, please subscribe; it’ll get you instant access to our latest episodes and is the best way to support your favorite real estate podcast. Have questions? Suggestions? Want to say hi? Shoot me a message via Twitter, Instagram, Facebook, or Email.

-Aaron Amuchastegui

Source: realestaterockstarsnetwork.com

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 C&R, a leading public relations agency in the luxury real estate and hospitality industries, is pleased to announce that Cayla Kondo has joined the firm as vice president, of real estate. With an impressive track record of results, leadership, creativity, and strategic execution, Kondo will invigorate the firm’s offerings and drive growth trajectory goals.

Kondo joins C&R most recently from Concord Companies, a vertically integrated real estate corporation based in Beverly Hills, CA with an estimated $1B AUM across the U.S. There, as chief marketing officer, Kondo was responsible for all marketing, branding, and communications for the organization. She executed a full rebrand for the parent company and its seven subsidiaries to attract higher caliber and institutional-quality investors.

“We are very excited to add Cayla to our team and confident she will bring tremendous leadership, high-impact relationships, and a diversified background to our team and clients,” said C&R Co-Founder Spencer Castillo. Caruso, as a leader in its retail, residential, office, hotel, and private club expansion as senior director of Marketing. Cayla was also director of VIP services for Caruso, where she created and implemented extraordinary experiences for the Portfolio’s most valued guests, including A-list celebrities, high-net-worth individuals, heads of state, and global executives.

“We are very excited to add Cayla to our team and confident she will bring tremendous leadership, high-impact relationships, and a diversified background to our team and clients,” said C&R Co-Founder Spencer Castillo. “It was important that the person we hired for this role brought a new perspective, a curated network, and a deep understanding of the luxury real estate consumer to our agency. We are confident we found that in Cayla.”

Kondo brings a roster of experience garnered from 10+ years of marketing and communicating with real estate industry executives, as well as a strong understanding of ultra-high-net-worth individuals. She is intimately familiar with C&R’s clients’ audience(s) and will be a valuable resource for all. Based in Los Angeles, Kondo will lead operations at C&R’s flagship Century City office, overseeing the agency’s real estate portfolio and contributing to the firm’s expansion efforts in new asset classes.

A sampling of current real estate clients within the agency’s portfolio includes Costa Palmas, Kukui’ula, Hualalai Resort, Martis Camp, East West Partners, Punta Mita, Montage International, Four Seasons Private Residences Las Vegas, Panther National, and Shell Bay, among others. A sampling of long-standing travel clients includes Four Seasons Resort Hualalai, Mayakoba, Malibu Beach Inn, Park Hyatt Aviara, Thompson Hotels located in Austin, Nashville, and Palm Springs, and more.

“Joining C&R presents an exceptional opportunity to redefine the art of communication and brand positioning of such high-end properties,” states Kondo. “I am excited to collaborate with this esteemed team of forward-thinking professionals to optimize our clients’ positioning across the real estate, travel, and golf sectors.”

C&R specializes in three key pillars for its partners: media relations, like-minded brand partnerships, and content development.

Led by former Robb Report Editorial Director and current Travel that Matters podcast host, Bruce Wallin, C&R Content is a full-service creative studio specializing in custom magazines, videos, and more. With clients including The Agency, Montage International, Hualalai, and Costa Palmas, C&R Content is a cornerstone of C&R’s ongoing commitment to providing authentic, thought-provoking value to its real estate clients.

C&R recently expanded its footprint across the country and continues to reinvest in core offices in Los Angeles, New York, Denver, Dallas, Chicago, and Charleston. The firm has newly partnered with a handful of high-profile clients in the hospitality and real estate spaces, including Aero (aviation), Andaz Maui at Wailea Resort by Hyatt, InterContinental Washington D.C. – The Wharf, Four Seasons Private Residences Las Vegas, Andaz Residences Turks & Caicos, Waldorf Astoria Residences Guanacaste, 21C Chicago, and others.

“As we head into our 15th year, we are more committed than ever to investing in top-notch talent, and the addition of Cayla to lead real estate is yet another example of that,” said C&R Co-Founder Pieter Ruig. “We take our client partnerships seriously, and it’s important we continue to deliver best-in-class service, leadership, and results.”

About C&R

Founded in 2009 by Spencer Castillo and Pieter Ruig, C&R is a public relations and content agency representing leading clients in the hospitality, real estate, and golf sectors throughout the U.S., Mexico, and the Caribbean. With offices in Los Angeles, New York, Denver, Dallas, Chicago, and Charleston, C&R works with the industry’s top journalists, like-minded brand partners, and digital influencers to deliver impactful results that drive awareness and credibility. C&R is innovative and forward-thinking, bringing together fresh ideas with results-driven strategies. Award-winning campaigns span-new build-outs and sales to renovations and openings – always with an eye on generating ROI for the agency’s partners. For more information, please visit www.candrpr.com.

Find topics in marketing, technology, and social media for realtors, and housing market resources for homeowners. Be sure to subscribe to Digital Age of Real Estate.

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Source: realtybiznews.com

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Nestled within the heart of the Lone Star State, Dallas stands as a testament to sophistication and modernity. Within this vibrant Texan city lies a world of luxury homes, each adorned with a distinctive set of features that encapsulate the essence of high-end living. From sleek, modern designs that seamlessly blend with the urban landscape to timeless estates nestled in the tranquil outskirts, Dallas boasts an array of sought-after elements that define the luxury real estate market. 

Whether you’re considering living in Dallas or searching for a home in the city, you’ll be captivated by the myriad of amenities and features the luxury market offers. From breathtaking panoramic views to updated kitchens equipped with top-of-the-line appliances, join us as we delve into the world of the most coveted luxury home features in Dallas.

Top neighborhoods with luxury home features in Dallas

Preston Hollow, Highland Park, University Park, Bluffview, and Devonshire are all areas in the Dallas housing market known for their luxury homes with high-end features where homebuyers are willing to pay premium prices.

Highland Park and University Park top the list for most expensive markets, with homes selling for a median price of nearly $3.2 million and $2.7 million, respectively. The high price tag is for good reason as these homes feature meticulously crafted architecture, spacious interiors, and upscale finishes. Tree-lined streets, manicured gardens, and proximity to cultural amenities characterize these exclusive areas, offering a blend of prestige and comfortable sophistication.

Homes in Preston Hollow, known for their sprawling estates, lush landscapes, and architectural grandeur, saw a median sale price of nearly $1.3 million. Bluffview homes, with a median sale price of almost $2 million, exude timeless charm, featuring elegant designs, scenic vistas, and lush surroundings. 

1. High-end finishes 

High-end finishes are a popular luxury home feature in Dallas. Expect fine marble or hardwood flooring, custom cabinetry, and top-tier appliances in gourmet kitchens. Spa-like bathrooms feature deluxe fixtures, soaking tubs, and spacious walk-in showers. Intricate crown molding and coffered ceilings adorn living spaces, while smart home systems offer advanced automation. Expansive windows invite natural light and reveal manicured outdoor spaces with lavish pools and landscaping. These homes often showcase grand entrances, wine cellars, and entertainment areas, combining upscale materials and meticulous craftsmanship for an unmatched luxurious living experience.

2. Top-of-the-line appliances

Luxury homes in Dallas are adorned with top-of-the-line appliances that redefine culinary excellence. Gourmet kitchens showcase brands like Sub-Zero, Wolf, and Miele, elevating cooking to an art form. Indulge in professional-grade ranges, built-in espresso makers, and wine refrigerators that cater to the connoisseur’s desires. 

3. Backyard oasis

You’ll often find that a backyard oasis in Dallas, TX, is a common home feature among luxury homes, often featuring amenities like a resort-style pool with cascading waterfall, soothing spa, and lush landscaping. Alfresco kitchens, fireplaces, and lounges create spaces for leisure and entertaining. High-end finishes, like premium outdoor furniture and artistic lighting, enhance the ambiance. Thoughtful design elements offer privacy, such as elegant pergolas or tall hedges, and the inclusion of natural rock features adds an organic touch, seamlessly blending opulence with nature. This sanctuary goes beyond a typical yard, fostering a seamless connection between indoor and outdoor living, and providing a serene escape from the city’s bustle in a lavish, harmonious setting.

4. Media room

A staple of luxury homes in Dallas, the media room offers an immersive escape into entertainment opulence. Thoughtfully designed for cinematic experiences, it boasts state-of-the-art audiovisual systems, oversized screens, and plush seating, akin to a private theater. Custom acoustic treatments ensure optimal sound quality. Smart technology allows effortless control of lighting, sound, and streaming services. This dedicated space goes beyond mere movie nights, offering a haven for sports enthusiasts and gaming aficionados. The media room encapsulates the modern definition of leisure, inviting residents to revel in high-end comfort and endless entertainment possibilities within the confines of their prestigious Dallas abode.

5. Smart home features

Smart home technology is a popular luxury home feature because it provides homeowners with a sense of convenience and security. A state-of-the-art smart security system, complete with remote-access cameras, provides peace of mind through real-time monitoring and control, ensuring the safety of the residence even from afar. 

Heated floors epitomize comfort and luxury, offering a warm embrace during chillier months. A personalized coffee bar adds a touch of everyday indulgence, allowing residents to start their day with bespoke brews tailored to their preferences.

These features reflect a lifestyle that seamlessly integrates technology into the fabric of daily life, enhancing comfort and efficiency. The ability to manage security, climate, and amenities remotely through intuitive interfaces elevates the living experience. 

6. Location

For luxury homeowners, location is paramount. Proximity to cultural hotspots, fine dining, and premium amenities is essential for providing the convenience homebuyers are willing to pay premium prices for. Large lots offer seclusion and the potential for personalized outdoor sanctuaries, complementing opulent interiors. These factors harmonize to create a refined environment that not only showcases the residence itself but also extends a sense of community and the promise of lasting value in the competitive realm of luxury real estate in Dallas.

7. Landscaped grounds

Luxury homes in Dallas boast captivating views of meticulously landscaped grounds, where nature becomes a living masterpiece. Expansive windows frame scenes of lush gardens, serene water features, and manicured lawns, seamlessly merging indoor and outdoor aesthetics. These vistas not only infuse each space with natural beauty but also offer a sense of tranquility and connection to the environment. Whether enjoyed from the comfort of elegant living areas or from private terraces, these stellar views accentuate the opulent living experience.

Luxury home features in Dallas: final thoughts

These exceptional features stand as testament to a lifestyle where elegance, innovation, and comfort are woven together seamlessly. From media rooms that transport you to cinematic realms to backyard oasis that merge nature’s beauty with architectural brilliance, these luxury home features enhance the lifestyle and elevate the experience of homeownership. 

If you’re in the market for a luxury home, your Redfin Premier agent is equipped to offer valuable insights into the local market, including insight into the neighborhoods, highly sought-after amenities, pricing trends, and available luxury properties.

Source: redfin.com

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Nestled within the vibrant cityscape of Columbus, Ohio, a realm of luxury living awaits. From charming historic neighborhoods to modern and contemporary homes, Columbus sets the stage for those seeking the epitome of refined living. Whether you’re ready to buy a home in Columbus or you’re still considering your options – this Redfin article unveils the luxury features that define the city’s housing market. Let’s get started. 

1. Butler’s pantry

One hallmark of luxury living in Columbus is the presence of a well-appointed butler’s pantry. A butler’s pantry is a large and practical space located between the kitchen and dining room. This special feature gives homeowners a separate space for preparing and storing meals, away from the main kitchen counter. 

Butler’s pantries in luxury homes add sophistication and attention to detail, improving the gourmet experience for residents.

2. Entertainment space

Luxury living in Columbus extends to the realm of entertainment, where dedicated spaces for leisure activities make a significant impact. High-end Columbus homes often feature entertainment areas that go beyond the typical living room setup. Residents can enjoy different activities like pool, board games, video games, and more. These spaces foster an immersive and enjoyable experience, promoting bonding and relaxation within the confines of one’s luxury abode.

3. Theater room

Among the most sought-after luxury features in Columbus homes is the dedicated theater room. These special areas have modern sound and video equipment, giving a real movie theater experience without having to leave home.

Luxury homeowners can relish in private screenings of their favorite films, sporting events, or shows with family and friends. These theater rooms are luxurious and advanced, setting a high standard for home entertainment with comfortable seating and modern technology.

4. Smart house technology

High-tech luxury homes in Columbus have advanced smart house technology that improves daily living in every way. This  integration of technology extends throughout the property’s interior and exterior, ensuring a seamless and sophisticated living experience.

Automated lighting systems create ambiance and energy efficiency, while smart climate control optimizes comfort and cost savings. High-tech security systems with remote monitoring give homeowners peace of mind, and voice-controlled devices offer unmatched convenience.

5. Ample parking and storage

In Columbus’ luxury real estate market, having three or more parking spaces, extra storage, and high ceilings is a premium feature. These well-designed garages meet the needs of wealthy homeowners, providing ample room for multiple vehicles, outdoor gear, and belongings.

The spacious parking areas, combined with added storage, ensure homeowners can maintain an organized and tidy living space. Fancy houses in Columbus, Ohio, are unique in the housing market because they combine luxury, usefulness, and advanced technology.

These houses stand out due to their exceptional features and amenities. They offer a blend of opulence, utility, and cutting-edge technology. This combination sets them apart from other properties in the area.

Top neighborhoods with luxury home features in Columbus

In places like Worthington Hills and Bexley, where the typical home sells for around $567,000 and $530,000 respectively as of June 2023, luxury homes equipped with these fantastic top five features are incredibly popular and come with a higher price tag. This is especially noticeable when you compare them to other homes in Columbus, which usually go for about $290,000.”

A final note on luxury home features in Columbus, OH

These top five Columbus luxury home features are redefining modern luxury for homeowners. They are also reshaping the city’s upscale residential landscape, taking living to new heights.

Source: redfin.com

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The ultra-luxury real estate market is suffering from massive price reductions that have forced the owners of some exclusive properties to drop their asking prices by millions of dollars.

CNBC reports several examples of this trend towards “mega price reductions” in the most expensive real estate listings in the U.S. For example, a sprawling family estate in Manalapan, Florida has had its price reduced by a massive $57 million over the last 12 months, and is now down to just $138 million. There’s also a mansion in Bel Air, California, that is now selling for $188 million, having previously been listed at $250 million – the U.S.’s most expensive real estate listing at the time.

Real estate analysis firm Redfin says these reductions, and others, point to a larger trend of price reductions in the ultra-luxury market that has seen over $1 billion in collective price cuts in the second quarter of 2018 alone. Throughout this year, 12 percent of homes listed at $10 million-plus have seen price drops, which is twice the number of such properties that slashed their prices in 2015 and 2016.

CNBC adds that many of the ultra-luxury homes that have had major price cuts and eventually sell do so at even less than the reduced asking price. One mansion in the Hamptons, a popular vacation home area for New York’s wealthiest residents, sold for around $50 million this spring, having been first listed at $100 million in 2008 and reduced to $72 million before its sale.

“There could be an oversupply of these high-end homes,” Redfin Senior Economist Taylor Marr told CNBC by way of explanation.

However CNBC says other factors could be affecting the market too.

“The high-end real estate market has seen steep price cuts in recent months as foreign buyers dry up, new tax laws bite the wealthiest states, and sellers realize the market peak of 2014 to 2015 isn’t coming back anytime soon,” CNBC said.

It also noted that things such as federal tax laws, which limit deductions of state and local taxes, could be putting pressure on luxury real estate in high-tax states.

Mike Wheatley is the senior editor at Realty Biz News. Got a real estate related news article you wish to share, contact Mike at [email protected].
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Source: realtybiznews.com

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From stately mansions adorned with exquisite details to modern marvels designed for seamless contemporary living, Westchester County, NY, stands as a haven for potential homebuyers seeking luxury living. If you’re already on the hunt for a home in the area, or just starting to think about living in White Plains, NY or another city in Westchester County, you’ll find yourself surrounded by an array of exquisite features and amenities.

As you embark on a journey to explore the finest homes this area has to offer,  this Redfin article will guide you through the realm of exquisite features that define luxury living in Westchester County. From elegant architectural details to cutting-edge amenities, we unveil the luxury home features that await you.

Top neighborhoods with luxury home features in Westchester County

While Westchester already has a lofty median sale price of $745K, surpassing the national median by over $300,000, Scarsdale, Rye, Irvington, Bronxville, and Larchmont stand as renowned enclaves, synonymous with luxury real estate. Each exudes its distinct charm, where homebuyers are willing to pay premium prices. 

Bronxville tops the list for most expensive area, with a median sale price of two million as of June 2023. Known for its vibrant community, Bronxville boasts timeless Tudor-style homes, Mediterranean villas, and proximity to Manhattan – it’s no wonder homebuyers are willing to pay top dollar. 

Scarsdale, which saw a median sale price of nearly $1.83 million in June 2023, is known for its majestic Colonial-style residences set against lush backdrops grace the landscape, often featuring sprawling lawns and grand facades. Rye, on the other hand, boasts an exquisite mix of architectural styles, from classic Colonials to elegant Tudors, many accompanied by breathtaking waterfront vistas and with a median sale price of nearly $1.8 million.

Meanwhile, Larchmont charms with its coastal allure, characterized by elegant shingle-style homes and captivating waterfront panoramas that sold at a median sale price of $1.63 million.

With a median sale price of nearly one million, Irvington presents a blend of historic elegance and modern grandeur, showcasing stately Victorian mansions and contemporary estates, harmoniously coexisting amidst tree-lined streets. 

Recent trends highlight the remarkable demand for these luxury areas, with competitive homes selling up to 500K over their asking prices. Limited supply and high demand lead to bidding wars, while unique features, location, and investment potential can justify the premium. 

1. Three-to-four car garage

Luxury homebuyers value 3-4 car garages for their practicality and versatility. These spacious garages offer secure parking for multiple vehicles, protecting vehicles from the elements to preserve value and ensure their condition. Beyond car storage, the extra space allows for organized storage, maintaining a clutter-free living environment. The additional space can also be repurposed as a workshop, providing a creative space for hobbies or projects. 

2. Large walkout basements

In Nashville, upscale residences commonly feature expansive finished basements boasting notably high ceilings. These spaces not only increase overall living space, allowing homeowners to adapt the space to their liking. Whether it’s a bonus room, home theaters, fitness centers, home bar, or game room, this space transforms into an extension of the main living areas, amplifying the overall lifestyle experience while offering dedicated spaces for leisure and hobbies. 

3. New kitchen

Another popular luxury home feature in Nashville is a new open and bright kitchen with high-end appliances that enhance cooking efficiency and convenience. Quality materials, from countertops to cabinetry, create an ambiance of enduring sophistication. With ample space for preparation and gathering, thoughtful design to ensure effortless organization, seamlessly integrated seating areas and counters, elegant finishes and intricate details render the kitchen a true centerpiece—the epitome of the phrase “heart of the home.”

Luxury kitchens are commonly equipped with an extra-large fridge and multiple dishwashers. This offers homeowners a spectrum of advantages, combining practicality, convenience, and elevated living. The ample space of an extra-large fridge accommodates groceries, fresh produce, and culinary essentials, reducing shopping frequency and preserving food quality. Multiple dishwashers streamline post-meal cleanup, particularly during large gatherings, ensuring continuous efficiency and a well-maintained kitchen.

 If you’re buying a luxury home in Westchester County, NY, your Redfin Premier Agent is equipped to offer valuable insights into the local market, including insight into the neighborhoods, highly sought-after amenities, pricing trends, and available luxury properties.

Source: redfin.com