NAF’s joint venture partners have access to the lender’s mortgage products and tools, including a lead source system and a “five-year protection pledge.” NAF offers various home financing options ranging from conventional to non-QM loans. “We are thrilled to be working closely with one of the most prestigious companies in real estate today,” NAF co-founder … [Read more…]
Financial experts are warning that the luxury housing market is at risk of slowing down, due to higher mortgage rates that have also affected other segments of the real estate market.
This week, luxury homebuilder Toll Brothers reported that its seen a 13 percent drop in the number of signed contracts for homes in its fourth quarter, plus a 9 percent cancellation rate. Toll Brothers’ average sales price was $906,000, compared to the national average home price of just $294,000.
“In November, we saw the market soften further, which we attribute to the cumulative impact of rising interest rates and the effect on buyer sentiment of well-publicized reports of a housing slowdown,” Douglas Yearley Jr., Toll Brothers’ CEO, said in a statement.
Luxury real estate has previously looked immune to the wider housing slowdown, because buyers of these kinds of properties are generally less susceptible to the increases in mortgage rates, experts say. But Peter Boockvar, chief investment office with Bleakley Advisory Group, told CNBC that’s changing.
“We’ve been seeing a slowdown in housing all year, but this is the first time Toll Brothers really acknowledged it in a press release,” Boockvar said. “I think up to this point they’ve felt like they’re somewhat immune being on the upper end of the market where people are less sensitive to changes in mortgage rates. So that’s what really stuck out to me is the acknowledgement of something we’ve known all year that it’s now affecting their customer base.”
There’s further evidence from real estate brokerage Redfin, which said that luxury home prices increased by just 3.2 percent in the third quarter of this year, averaging $1.7 million per transaction. While that’s still positive growth, the increase is the lowest since 2016.
Redfin Chief Economist Darly Fairweather said a decline in high-growth stocks—called the FANG tech stocks—is curtailing sales. “This impacts the belief that the overall economy will grow,” he told CNBC.
In markets where homes are the most expensive, sales are weakening significantly, notably in California, according to Yearley. “California has seen the biggest decline,” he said. “Significant price appreciation over the past few years, fewer foreign buyers in certain communities, and the impact of rising interest rates all contributed to this slowdown.”
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].
Stan Ponte started his real estate career as a leasing agent but was never one to shy away from new opportunities. When the opportunity to sell luxury real estate presented itself, he jumped on it. Now, 22 years later, Stan is one of New York City’s most successful luxury specialists, consistently ranking among Manhattan’s top agents by sales volume. He even has an active $79,000,000 five-story penthouse listing! On today’s podcast, Stan shares how he made a name for himself in luxury real estate and what it takes for a new agent to break into the luxury market. Don’t miss it!
Listen to today’s show and learn:
Stan’s start in real estate [1:47]
How to get into luxury real estate [3:13]
The story of how Stan almost helped Ed Burns buy an NYC loft [3:44]
The power of gifting [5:43]
How Stan got started as a luxury real estate agent [6:52]
Financial advice for new agents [9:45]
The trick to making great money in real estate [12:06]
Stan’s sales stats [15:14]
What’s unique about New York City’s real estate market [16:45]
Selling apartments in the aftermath of 9/11 [17:50]
When to take listings and when to work with buyers [19:23]
What qualifies as a luxury listing in New York City [20:21]
Advice on running a real estate business [21:18]
A tactical way to leverage your SOI for more business [24:36]
Stan’s opinion on outbound marketing [36:15]
The key to getting more referrals from other brokers [37:48]
Stan’s approach to contact communication [40:09]
One of the craziest luxury listings we’ve ever seen [43:38]
How to reach out to Stan Ponte [47:46]
What the NYC real estate market is like right now [48:55]
Stan Ponte
Stan Ponte is a Senior Global Real Estate Advisor and Associate Broker with Sotheby’s International Realty – East Side Manhattan Brokerage. He was named the #2 agent in Manhattan by sales volume for his work in 2020 according to “The Thousand” list, an annual national ranking by The Wall Street Journal and REAL Trends.
As a realtor in New York City for the past 21 years, Stan’s client list ranges from first time home buyers to CEOs, philanthropists, hedge fund managers, tech world innovators and entertainers. Stan’s success as a top performer in New York City’s white glove firms includes two years of management experience at a global real estate firm, where he honed his business development and agent services skills.
In addition to Stan’s resale activities, he is proud to have been chosen as co-director of sales to represent the Woolworth Tower Residences. “The opportunity to sell extraordinary homes in the most recognizable and beloved building in the world is one of the proudest moments of my career,” Stan says. To explore the Woolworth Tower Residences please visit thewoolworthtower.com.
Often called on as a keynote speaker or panelist, Stan is able to discuss his deep understanding of the global reach of Sotheby’s International Realty, bringing him to New Delhi, Hong Kong, Beijing, London, Boston, Stamford, Aspen, Los Angeles, Las Vegas, Barcelona, Madrid and Washington D.C.
Stan is able to focus his time and energy on selling while his team manages the office and focuses on marketing; ensuring his clients receive the level of service and attention they deserve.
“Our tailored approach to marketing is something I look forward to sharing at my very first meeting with a seller,” Stan says. “We do our homework first. From the comparable market analysis to a carefully laid out print and e-marketing campaign, we target the buyers and brokers who are most likely to bring the highest price the market will bear.”
Stan is a proud member and co-founder of a referral group of agents in markets outside of New York City and encourages his clients to visit ourtrustednetwork.com if they are interested in being introduced to his trusted Sotheby’s International Realty colleagues who value professionalism, integrity and deep local market knowledge. “We treat our referrals for what they truly are, an extension of trust and an invitation to be added as a member of the client’s team of real estate advisors.”
A graduate of New York University’s Tisch School of the Arts, Stan previously served on the Board of Directors of the Pre-War Condominium that he calls home and is a current board member and former President of The Drama League. He was one of the founding members of the successful Broker’s Build with Habitat for Humanity NYC and was recognized with their New Partnerships Award. Stan is a strong supporter of the Anti-Violence Project which awarded him in 2017 with their highest recognition, The Courage Award. In addition, Stan and his husband were honored to receive the 2020 Bailey House Rand Harlan Skolnick Social Responsibility Award. Stan also supports the Catskill Animal Sanctuary and the American Repertory Theater at Harvard University where he serves on the NYC Leadership Circle and served as a founding board member at the Bedford Playhouse. He may be the proudest, however, to serve as President of Legacy Ranch, a horse rescue rehabilitation and adoption facility founded by his mother.
“My commitment to my friends, family, and non-profit organizations, especially through the theater, is paramount to my sense of being a responsible and grateful citizen and a proud contributing member of the community.”
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Thank You Rockstars! 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
The luxury real estate horizon looks bright for a few counties in Florida despite a slowing sales forecast for the state overall. Interest from prospective home buyers from America’s Northeast is aimed at both Collier and Sarasota, two of the nation’s fastest-growing luxury housing price markets. These areas, along with interest in Jacksonville and a new projects across the state, are bright spots in a sagging Florida luxury market.
According to the May 2018 Luxury Home Index from realtor.com®,
interest from buyers in New York, Boston, and Chicago boosted Sarasota (North
Port) and Collier (East Naples) price growth of 19 and 14 percent respectively.
In that report, even Fort Lauderdale, which ranked 19th on the national list,
showed a 9% uptick in sales prices. Javier Vivas, director of economic research
for realtor.com® offered this comment in a press release:
“Luxury prices in the Sunshine State are rising quickly as buyers from places like New York, Boston, and Chicago get wind that there is a better bang for their buck available down South. Meanwhile, we are seeing signs of a luxury market glut in many established markets, which is in some cases leading to spillover demand for their less pricey neighbors.”
Luxury properties in the news in Sarasota have helped peak interest in the area. An instance that comes to mind was the recent announcement that the one of America’s most talked about restaurants, the Beach Bistro opening at the luxurious BLVD Sarasota (feature image) beginning of 2020 put an exclamation point on one of the city’s most exciting new developments. Remaining BLVD residences range from 3,550 to 5,500 square feet and are listed starting at $1.9 million.
The boost to Collier County sales prices was helped by big home sales in Naples where one
sale came in at a record $48.8 million. Naples’ 34102 ZIP code ranked is the
15th richest in America according to a recent report by Bloomberg. The recent
sale of a Port Royal beachfront mansion of 9,394 square feet that originally
listed for $60.9 million dollars, obviously did nothing to lower the areas
ranking.
Amazing new luxury developments dot the state and draw attention from high net worth investors, even as the market trends toward oversupply. One that comes to mind is the Waterfall Condominiums going up at Jax Beach. This eight-floor complex of 42 residences will have two fantastic penthouses on the top level, and range in size from 2,721 to 3,077 square feet. Expansive terraces will offer unmatched beach views listed by the Hanley Home Team at about $1.3 million on average.
An interesting aspect for these luxury residences is the fact new height restrictions have now limited beachside properties to no more than three stories tall. But, the beach property on which the condos will be built, at 14th Avenue South and 1st Street South, was grandfathered in, allowing for a high-rise residential structure. This brings up another important variable for all Florida luxury properties. Once the growth in new development sinks (and this is inevitable), the exclusivity of these properties will rise accordingly. Short story, prices will probably skyrocket.
Finally, “one of” luxury properties all across the Sunshine State help prop up high-end property prices. An example here is the so-called “Victory House” (above) that sits on 200 fabulous bayfront acres overlooking St. Petersburg and downtown Tampa Bay. This amazing property has its own private beach and has hurricane-proof doors and windows throughout. The six-bedroom, six-bath house is on a 13-acre parcel that includes about seven acres of uplands and the canals, a place where the owner will never have neighbors. Listed at $18 million, the mansion named for Nasr “Vic” Abuoleim is but one example of hundreds of similarly “exclusive” properties in the state.
A wonderful friend
of my father’s who was a land developer, he had this saying that has never
failed me. “Always buy land, they don’t
make any more of it,” he’d say. In
the case of Florida property, the more expansive the market gets, the more
“land” becomes a luxury. My bet is on prices rising in the mid-term to long.
Phil Butler is a former engineer, contractor, and telecommunications professional who is editor of several influential online media outlets including part owner of Pamil Visions with wife Mihaela. Phil began his digital ramblings via several of the world’s most noted tech blogs, at the advent of blogging as a form of journalistic license. Phil is currently top interviewer, and journalist at Realty Biz News.
Once considered something of a novelty for agents, Instagram has emerged as one of the best ways to market properties. With a combination of creativity, diligence, and the successful application of Instagram know how, the following group of successful real estate gurus show the 86 percent of the industry not yet sold on Instagram, how business gets done. If you’re in the industry, Instagram is the perfect platform to show off your listings and your competency too. Pay close attention to the excellent leadership of the following companies.
The Agency
The Beverly Hills luxury lifestyle and luxury real estate brokers, The Agency just inspire. That’s all there is to it. Looking through their shares on Instagram I know I would pick from their listings if I had the millions it takes to buy one of these properties. 192,000 fans prove I am not the only one inspired. 38,000 plus likes on the following share punctuate my point.
Dusty Baker
This young and energetic California real estate pro is another social media phenom who understands how to engage with a personal touch. With just over 14,000 followers Dusty is not breaking any internet meme contests, but the fans he does have are engaged by family images and that special touch that makes people feel comfortable online or at an open house. Check it out when Dusty shares he and his wife’s happiest moments.
Cindy Ambuehl
Actress turned stunning Los Angeles real estate guru, Cindy Ambuehl has 41,500 fans on Instagram. Like other successful agents on social media, she understands the power of authenticity when she shares personal moments with her, her husband @DonDiamont and their 7 boys. I guess I should mention that Cindy works with The Agency too – maybe there is some correlation of excellence in social media there?
Chad Carroll
South Florida’s Chad Carroll is another superstar of Instagram for real estate dealing. Chad has a whopping 509k followers who check their feeds for the coolest properties on Instagram. This guy has not only sold $1.5 billion worth of luxurious properties, but he is also at the top of the South Florida food chain among agents. The share below now has almost 13,000 likes. Bravo Chad!
Douglas Elliman Real Estate
Douglas Elliman powers his Instagram dominance with gorgeous photos of some of America’s most amazing properties. This all-star has a powerful Instagram army numbering over 120,000. The property-gram from the Hamptons below tells the tale.
#Hamptons or #Florida? Which beach view do you prefer? Comment 1 or 2 below ? 1️⃣ In the #Hamptons, discover 25 Potato Road Sagaponack South, New York, a 6 beds, 5.5 baths ultra-luxe modern oceanfront residence listed for $29,995,000 by Justin Agnello and James Keogh at The Atlantic Team, and @erica0305g. This home is an exceptional balance of California beach chic and sophisticated modern design. #EllimanHamptons 2️⃣ In #Surfside Florida, explore 9001 Collins, S-1003, a 4 beds, 4.5 baths home at the #FourSeasonsResidences @thesurfclubmiamibeach listed for $12,995,000 by @pabloalfarorealestate. Enjoy the best of both views with a very ample oceanfront terrace and sunset/skyline views. #EllimanFlorida
Ein Beitrag geteilt von Douglas Elliman Real Estate (@douglaselliman) am Feb 19, 2019 um 10:19 PST
Fredrik Eklund
This bestselling author and star of Bravo’s MDLNY seems to doing everything right. His 1.1 million fans on Instagram attest to his influence and the quilty of his engagement. I feel bad putting two superstars from the same New York area in this roundup, but the fact Eklund works with Douglas Elliman does not detract from the level of expertise needed to attract leads on Instagram. Let me put it this way, if you have celebrity influence in any business, you’re well advised to use it where appropriate. This share with nearly 30,000 likes makes my point.
Shawn Elliott
One of the most popular Instagram followings out there belongs to Shawn Elliott, one of Long Island’s and America’s most successful luxury real estate pros. The Managing Director of Nest Seekers Ultra Luxury Division, Shawn has 31,200 followers as of this writing. The real power of his “gramming” is not about following alone. Shawn has a rare grasp of imagery and the way potential buyers perceive value and beauty. The real estate pro also knows how to engage without boring his following to death. The account is about more than business, which is what differentiates social media gurus from hard selling encyclopedia salesmen. Here’s Shawn with a familiar face from the movies.
Luis Iglesias
Instagram accounts that feature awe-inspiring photography have a distinct advantage. Luis Iglesias Group has forged this reality into one of the most alluring sales tools on Instagram. The close to 95,000 fans of this account get to feast their eyes on photographic candy equal to any Hollywood studio account. Check out how this Miami real estate boss melds stunning imagery with compelling texts to beckon his clients hither. Amazing. Take note and the lesson here. Social media management at this level does not come cheap, and I should know. Iglesias is backing his investment with this account.
Matthew Sweat
This Keller Williams pro in Lake Tahoe has melded his skills as a photographer and sales agent into a compelling Instagram effort worthy of mention. Though Sweat has less than 5,000 followers, the quality of his shares are incomparable.
Toll Brothers
Many do not consider America’s most admired home builders to be a real estate company, but for my money they take the American dream a step farther. This Fortune 500 company is consistently ranked the number 1 homebuilder in the world. And with nearly 90,000 fans on Instagram, it’s clear the company knows a thing or two about media. I cannot help but mention how high net worth individuals would seem to benefit from creating their lavish dreams from the ground up. Take a look at this home.
A last note on Instagram for those of you who are agents. Building trust via your social media prowess is a proven winning strategy now. With most agencies only paying lip service to Instagram and other platforms, forward thinkers like the agents mentioned can get a leg up on the competition. If your business is important to you, we can only recommend you emulate the most successful professionals like the ones illustrated here. Excellence in business is not new under the sun, and copying what these superstars do seems like child’s play for me.
Phil Butler is a former engineer, contractor, and telecommunications professional who is editor of several influential online media outlets including part owner of Pamil Visions with wife Mihaela. Phil began his digital ramblings via several of the world’s most noted tech blogs, at the advent of blogging as a form of journalistic license. Phil is currently top interviewer, and journalist at Realty Biz News.
The U.S. housing market is on fire. Prices are rising at a record pace, and it’s getting harder and harder to find a good deal on a home. Even the ever-increasing cost of home lending isn’t doing much to drive prices downward, despite the US Federal Reserve’s best efforts to curb inflation by raising the base rate! If you’re looking for a luxury home, there are still a few markets where you can find some good deals. Here are five of the strongest luxury housing markets in the U.S. right now.
St. Louis, Missouri
St. Louis is a city that has been on the upswing in recent years. The economy is strong, unemployment is low, and there’s a lot of new development happening. This has all led to a surge in demand for luxury homes in St. Louis. The median home price in St. Louis is currently around $250,000. This is significantly lower than the national average of $375,000. So if you’re looking for a luxury home in a more affordable market, St. Louis is a great option.
While the Midwest region might not be for everyone, St. Louis has a lot to offer luxury buyers in terms of amenities. The city is home to a world-class art museum, a symphony orchestra, and a number of professional sports teams. St. Louis is also located within a short drive of some of the most beautiful natural scenery in the country.
Boulder, Colorado
Boulder is a city that is known for its stunning scenery, its vibrant arts and culture scene, and its strong economy. The city is also home to a number of Fortune 500 companies, which has helped to drive up demand for luxury homes in recent years.
The median home price in Boulder is currently around $900,000. This is significantly higher than the national average, but it is still relatively affordable for luxury buyers. Boulder is a popular destination for tech workers and entrepreneurs, and the city’s economy is expected to continue to grow in the coming years.
San Jose, California
San Jose is the heart of Silicon Valley, and it is one of the most expensive cities in the country. The median home price in San Jose is currently around $1.5 million. However, the city’s strong economy and its abundance of amenities make it a desirable place to live for luxury buyers.
San Jose is home to a number of Fortune 500 companies, and the city’s unemployment rate is consistently below the national average. The city also has a thriving arts and culture scene, and it is home to some of the best restaurants in the country. Plus, its close proximity to San Francisco means it’s close to even more incredible culture and arts.
Dallas, Texas
Dallas is a major financial and business center, and it is home to a number of Fortune 500 companies – much like many of the other entries on this list. Similar to San Jose, for example, the city’s economy is likewise quite strong, and the unemployment rate is consistently below the national average. In fact, the entire Dallas-Fort Worth area has been a solid economic performer for decades.
The median home price in Dallas is currently around $500,000. This is significantly lower than the median home price in San Jose or Boulder, but it is still a relatively high price tag. However, Dallas offers a number of amenities that appeal to luxury buyers. The city has a vibrant arts and culture scene, and it is home to some of the best restaurants in Texas.
Hilton Head, South Carolina
Hilton Head is a resort town located on the Atlantic coast of South Carolina. The city is known for its beautiful beaches, its golf courses, and its upscale shopping. It has a very strong and well-earned reputation for luxury living thanks to its position on the coast and the warm weather it experiences nearly year-round.
The median home price in Hilton Head is currently around $1 million. This is a relatively high price tag, but it is still affordable for luxury buyers. The city’s strong economy and its abundance of amenities make it a desirable place to live for those who want to enjoy a luxurious lifestyle. It’s especially relevant for anyone who enjoys boating or watersports of every kind.
These are just a few of the strongest luxury housing markets in the U.S. right now. If you are looking for a place to buy a luxury home, these are the cities where you should start your search.
Bonus Markets You Should Consider for Luxury Housing
St. Louis, Boulder, San Jose, Texas, and Hilton Head are fantastic choices if you’re looking for a solid luxury housing market. In addition to the five cities listed above, there are a few other markets that are worth considering if you’re looking for a luxury home. These include:
Austin, Texas
Nashville, Tennessee
Raleigh, North Carolina
Charlotte, North Carolina
Phoenix, Arizona
These markets are all experiencing strong growth, and they offer a good mix of affordability and amenities. So if you’re not sure where to start your search for a luxury home, these are a few great places to consider.
The Last Word on Luxury Home Markets in 2023
If you are in the market for a luxury home this year, you can’t go wrong with any of the excellent cities and neighborhoods mentioned in this list. However, you should be aware that markets change all the time based on economic conditions. Be sure to do your due diligence and thoroughly research every property you’re interested in. Enlist the help of a qualified real estate professional familiar with your target market for the best results!
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.
Former President Donald Trump has not made his real estate great again.
Trump has dominated the headlines recently, as he announced his intention to run for office again and then became the first former commander in chief to face criminal charges. But the polarizing politician and reality TV star is first, and perhaps foremost, a real estate mogul. And the past few years have not been kind to his sprawling residential real estate portfolio.
While home prices across America generally rose quickly during the “pandemic pump” housing market, sale prices at the properties listed on the Trump Organization’s website have either declined or appreciated at a slower pace than the local markets they’re in.
To be sure, the COVID-19-era real estate market will be one for the history books, defined initially by ultracheap mortgages, the liberation of newly mobile Americans who could pursue “remote work” away from their abandoned offices, and a continued housing shortage that all pushed home prices up in dramatic ways. The price gains have begun to correct in some areas, but in large part, historically high prices appear to have stuck.
But Trump’s real estate brand hasn’t benefited as much from the favorable housing market. Price appreciation for condos in properties listed on the Trump Organization’s website has been lower both in the luxury real estate and overall housing markets.
For example, the median condominium sale price in the U.S. rose 38% between 2019 and 2022, according to CoreLogic data. But over the same period, the median sale price at Trump Organization properties declined 14%. (The properties Realtor.com® analyzed were all condos.)
And while the price changes varied around the country, his condos didn’t outperform any of the local markets where they’re located.
Some local experts believe the price declines are related to the former president’s controversial politics, especially since most of his properties are in Democratic-leaning areas. Since he ran for office, his name has been pulled off some of his prime real estate holdings in major cities.
“A lot of people have said the buildings are great,” says Dan Neiditch, the president of River 2 River Realty in New York. “But when they have the Trump name on the buildings, it’s all about branding. And when that’s the case, you live and die by your brand, by your name.”
Trump was recently charged with 34 felony counts related to hush money payments made to an adult film star, is under investigation for election interference in Georgia, and is facing multiple lawsuits. That could also affect his real estate holdings, especially in places where the former president isn’t popular.
To come up with our findings, we pulled home sale records from CoreLogic, a real estate transaction data provider, for properties listed on the Trump Organization’s website. Then we compared them with condo sale prices for the counties where those properties are located. Because the CoreLogic data is not perfect, we also excluded transactions that appear to have erroneously high and low transaction amounts recorded (likely data entry mistakes).
While all of the Trump Organization’s condo projects were included in the national numbers, Trump real estate markets with fewer residential units (including Connecticut, Hawaii, and Westchester, NY) are not detailed in the pull-out sections below.
We used 2019—the year before pandemic fluctuations roiled U.S. housing—as a starting point/benchmark for our calculations.
Note: It’s unclear if every property listed on the Trump Organization’s website is owned by the organization. The Trump Organization is a privately held corporation, so it isn’t required to disclose the specifics of its real estate holdings to the public. And even though the Trump name might prominently grace a building, it doesn’t mean that the organization owns the property. The former president licenses his name for a host of different things, including real estate and consumer products.
The Trump Organization did not respond to a request for comment.
For decades, Donald Trump made a name for himself as a New York City real estate celebrity and tabloid fixture. The Big Apple was his launching pad, where the Trump Organization began developing residential properties in the early 1980s. And it’s still where his company has the most buildings.
He announced his first run for the presidency, in 2015, in his iconic Trump Tower on 5th Avenue, where he rode down a golden escalator.
But in the past few years, the organization’s Manhattan properties have fallen behind the competitive Manhattan condo market.
In 2022, the median sale price for all of the organization’s New York City properties combined was about $1.75 million. Within the past 10 years, that figure hit a high point in 2015, at $2.3 million, and a low in 2020, at around $1.4 million.
Since just before the COVID-19 pandemic, the Trump Organization’s prices are down about 16%—far behind the roughly 11% price growth for all condos in Manhattan over the same period.
The list of Manhattan buildings listed on the organization’s website includes the Trump Tower, in Midtown, and Trump Parc, on the southern edge of Central Park. On the Upper West Side, the organization has six buildings that make up Trump Place, situated along the Hudson River. Three are apartment buildings, which were not included in this analysis, and three are condominium buildings. Residents voted to remove the Trump name from the buildings in 2019. There is also Trump International Hotel & Tower, on Central Park West. In Midtown East, the organization owns Trump World Tower, looking onto the East River, just across the street from the United Nations headquarters. And on the Upper East Side, the organization owns Trump Park Avenue, Trump Palace, and 610 Park Avenue.
Despite the successful efforts to remove the Trump branding from several of his New York properties, much of the Trump residential real estate is still highly valued among certain buyers.
According to luxury real estate broker Dolly Lenz, the properties themselves and their management are second to none.
“The management of the properties—whether it’s Trump Tower, Trump International, Trump World Tower—are some of the best-run buildings in New York,” she says. “They choose the best doormen, the best concierges, so the service is top quality.”
But many of the Trump Organization’s properties are older and have trouble competing with the newer buildings, which offer more modern designs, layouts, and amenities. Trump Tower opened in 1983—40 years ago.
For some local experts, it’s politics that have caused the lagging prices.
“New York and New Jersey are majority-Democrat states. I believe the prices of Trump’s properties take a hit just because of the politics of the people in the area,” says Neiditch, of River 2 River Realty. “We’ve had people who lived there, who said, ‘Hey, we want to sell. We don’t want to live in a building where that name’s on the outside.’”
Access to Trump Tower, which was more restricted during Trump’s presidency due to heightened security and Secret Service activity, also likely affected the value of the units in the bellwether building, says one real estate expert, who asked not to be named.
Fed up with the backlash against him and his politics, Trump officially left New York. Since 2019, the former president has called the purple state of Florida home. He now resides in his oceanside Mar-a-Lago resort in Palm Beach.
The Trump Organization has residential properties in and around Miami, including Trump Grande, Trump Tower Sunny Isles, and Trump Hollywood.
The Trump-branded properties in Florida’s Miami-Dade and Broward Counties appreciated by about 15% between 2019 and 2022, after first dipping in 2020, the biggest price gains of any location analyzed.
But prices shot up much higher in Florida during the pandemic as the Sunshine State saw an influx of companies and new residents. In the Miami-Dade and Broward markets where Trump properties are located, the median condo sale price has increased by more than 50%, going from just under $200,000 in 2019 to just above $300,000 in 2022.
And for the luxury condo segment in the same area (the upper 10% of sales by price), which is closer to the price range of the organization’s properties, prices grew by more than 60% over the same period.
Trump International Hotel & Tower’s opening in Las Vegas in 2008 marked the organization’s first expansion into the western U.S. But condo sale prices in the building have substantially lagged behind overall Las Vegas condo price appreciation.
The median sale price at Trump International Hotel & Tower took a significant hit in 2020, dropping from $305,000 to $214,500. Since then, the prices rose but were still down about 8% below pre-pandemic prices.
Meanwhile, in Clark County, which includes Las Vegas and the surrounding cities, the median condo sale price rose by more than 50% from 2019 to 2022.
June Stark, a real estate agent and broker at The Stark Team–Elite Realty, in Las Vegas, blamed pandemic restrictions as one of the reasons that Trump property prices dropped. Reduced tourism affected the building, which is a combined hotel and condo tower.
“The building itself is beautiful, probably the best-maintained hotel and condo tower in the city,” Stark says, noting that she was among the first agents to sell the residences.
Trump International Hotel & Tower in Chicago looms large in the city, with its height, distinctive style, and prime location, but the sale prices have taken a dive.
At 98 stories and reaching 1,388 feet, it’s the seventh-tallest building in the nation and second in Chicago (behind the Willis Tower, formerly known as the Sears Tower). The building’s off-centered, tapering spire is hard to mistake, but it’s the 20-foot-tall and 141-foot-wide “TRUMP” sign on the building on the northern bank of the Chicago River that informs anyone who passes by who owns the building.
But while the building’s prominence is unquestionable, the median sale price for residences there dropped by almost half in 2020 alone—going from just below $1.5 million the year before to $750,000. Since then, prices have come back some, but at $1 million in 2022, the median sale price is still down more than 30% compared with before the pandemic.
During the same three-year period, 2019–22, the median condo sale price in Cook County, which includes most of the Chicago area, rose about 12%. But for additional context, condos priced closer to Trump International Hotel & Tower in Chicago, those within the top 10% of sales by price for Cook County, also saw a big drop in prices in 2020, and an overall price decline greater than the Trump Organization’s building.
Across the Hudson River from the Trump Organization’s Manhattan properties is 88 Morgan Street Condominiums, formerly known as Trump Plaza Residences, in downtown Jersey City. The 55-story building, developed by the organization in the late 1980s, provides a sweeping view of the Manhattan skyline and the Upper Bay.
But 88 Morgan Street has not seen the same price gains as condos nearby. The median condo price in Hudson County, NJ, which includes everything from Bayonne to North Bergen and from the Hudson River across the Hackensack River to Kearny and Harrison to the west, saw modest appreciation during the pandemic, rising by about 14% from 2019 to 2022.
In Jersey City, condo sale prices at 88 Morgan Street rose only 4%.
“I know in those buildings in New Jersey, there have been fights about taking his name off,” says Neiditch, of River 2 River Realty, “but that’s been going on since back in 2016.”
[Note from editor: The “Mastermind Showcase” highlights companies and news from members of the GEM. Today’s showcase: CondoBlackBook.]
CondoBlackBook allows home buyers and renters to explore condos and neighborhoods in Miami. Their entire search experience is built on curated condo inventory, and each listing gives condo buyers access to detailed information including floor plans and price history. They’ve aggregated building level photos, descriptions, as well as sales history and statistics. Property guides contain detailed neighborhood descriptions, historical background, and favorite places to eat, drink, and play.
CondoBlackBook was founded by H B Roswell Realty, a boutique luxury real estate brokerage in the Greater Miami Area.
Represented in the GEM: Sep Niakan
What we like: A compelling curation play, CondoBlackBook is laser focused on serving the needs of buyers with specialized market knowledge. Making an actual promise to customers (most detailed condo knowledge available) gives them a leg up on legacy models.
Looking to build a solid base of business from a specific area in your market? Real estate farming is a strategy you should consider, and today’s guest, Bill Sohl, is an expert on it. Listen to this podcast and learn how Bill went from a small geographic farm to one that targets over 40,000 luxury properties. Bill also shares where most Realtors should start with farming, offers his top tips for success with direct mail, and explains why real estate agents must differentiate themselves in order to succeed.
Get 10+ hours of mastermind-level content 100% FREE. Register at Carrot.com/Rockstar today!
Listen to today’s show and learn:
About Bill Sohl [3:56]
About real estate farming [5:10]
Wowing potential clients in your farm [9:06]
Why agents must differentiate themselves [15:10]
Tips on postcards and mailers [16:38]
A system for scaling with mailers [20:24]
How to know when it’s time to grow [26:17]
Costs to consider with direct mail [28:25]
Bill’s experience at the first Real Estate Rockstars Mastermind [30:28]
Finding value in the Real Estate Rockstars podcast [36:35]
Connecting on a deeper level with seminar speakers [37:32]
One thing you must include on your postcards [43:56]
Giving value to get leads [45:27]
Start small to ensure your success [47:11]
Bill’s advice for new real estate agents [48:56]
Where to find and follow Bill Sohl [51:09]
Bill Sohl
Bill knows that buying or selling your home can be one of the most important transactions in your lifetime. Whether you’re just starting out, trading up, relocating, or making a lifestyle change, you can count on Bill to go above and beyond the call of duty to make your deal a success. In addition to being a Realtor®, Bill is a licensed general contractor and a Certified Home Luxury Marketing Specialist. He is able to provide superior service, and pay attention to every little detail, simply because he has intimate knowledge of every step in the process. Bill’s expertise also provides an impressive networking team to help his clients have the best experience possible when it comes to buying or selling a home.
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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.
Welcome to the vibrant city of San Antonio, where luxury living reaches new heights. Nestled in the heart of Texas, this enchanting city offers an array of stunning homes with some of the most exquisite luxury home features.
Whether you’re considering living in San Antonio or looking for compelling reasons to move to 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 San Antonio’s most coveted luxury home features.
1. Hill Country homes
The allure of homes in Hill Country lies not only in their exquisite craftsmanship and attention to detail, but also in the captivating natural surroundings and breathtaking Hill Country views. These luxury homes offer an unparalleled connection to nature, with expansive windows that frame panoramic vistas of the rolling hills and lush landscapes. The seamless integration of indoor and outdoor living spaces allows residents to fully immerse themselves in the beauty of their surroundings.
Whether it’s waking up to a glorious sunrise or enjoying a picturesque sunset, these homes provide a serene and idyllic retreat from the hustle and bustle of city life. The ability to embrace and appreciate the stunning natural landscapes is what makes these luxury homes in Hill Country so highly coveted by homebuyers seeking a truly remarkable living experience.
8. Spacious outdoor living areas
Outdoor living areas provide a seamless extension of the indoor space into the open air. These outdoor spaces are well-designed to offer a haven of relaxation, entertainment, and recreation. Beautifully landscaped gardens provide a picturesque backdrop, evoking a sense of serenity and natural beauty, and private outdoor kitchens complete the space, equipped with state-of-the-art appliances.
2. Homes with resort-style amenities
Luxury homes go above and beyond in offering resort-style amenities that elevate the living experience to a whole new level. These exceptional properties boast a wide array of luxury home features designed to provide residents with the ultimate in relaxation, entertainment, and convenience.
One of the standout amenities in San Antonio is a private swimming pool, where homeowners can enjoy a refreshing dip or soak up the sun in the privacy of their own backyard oasis. Additionally, hot tubs provide a luxurious retreat for unwinding and rejuvenating after a long day.
Outdoor kitchens are a popular feature, allowing residents to indulge in outdoor dining and entertainment while taking advantage of the beautiful weather. Some luxury homes even offer casitas, providing separate guest quarters or additional living spaces for ultimate flexibility.
Another sought-after feature is being located on a private golf course, allowing residents to enjoy a round of golf whenever they please. These resort-style amenities transform a luxury home into a personal haven, creating an atmosphere of relaxation, recreation, and endless possibilities.
4. Upscale kitchens
Gourmet kitchens are the heart of the home, where culinary creations come to life and unforgettable memories are made. With their exquisite features and attention to detail, they elevate the cooking and dining experience to a whole new level of luxury.
Upscale kitchens are thoughtfully designed and equipped with top-of-the-line appliances, including professional-grade stove tops, ovens, and refrigerators. Custom cabinetry adds a touch of elegance and sophistication, providing ample storage space for kitchen essentials and keeping the space organized. The use of luxurious materials such as granite or marble countertops adds a sense of opulence and creates a stunning focal point in the kitchen. Large islands not only provide additional workspace for food preparation, but also serve as a gathering spot for family and guests. Walk-in pantries offer generous storage for groceries and kitchen supplies, ensuring everything is neatly organized and easily accessible.
3. Location, location, location
Location is a key factor in the luxury real estate market in San Antonio. Proximity to renowned shopping destinations allows residents to indulge in a world-class retail experience, with access to luxury brands, upscale boutiques, and designer stores just a stone’s throw away.
5. Bathroom design
With their meticulous attention to detail and emphasis on comfort and serenity, spa-like bathrooms transform daily routines into moments of pampering and tranquility.
Luxury homes in San Antonio take bathroom design to the next level by creating spa-like retreats that offer a haven of relaxation and indulgence. These bathrooms feature oversized soaking tubs where homeowners can unwind and soak away the stresses of the day. Walk-in showers with multiple shower heads and rainfall features provide a luxurious bathing experience akin to a personal spa. Dual vanities with elegant countertops and ample storage space offer convenience and functionality for couples or individuals. The inclusion of heated floors adds a touch of opulence and comfort, allowing for a cozy atmosphere even during colder months. Premium fixtures, such as high-end faucets and designer lighting, add a sophisticated and stylish element to the space.
7. Indoor pools
Indoor pools are a popular luxury home feature in San Antonio, offering a unique and year-round aquatic experience and a dedicated space for entertaining. The climate-controlled environment ensures optimal comfort and enjoyment, allowing homeowners and their guests to swim and relax regardless of the weather outside.
An indoor pool also provides privacy and convenience, allowing residents to enjoy their aquatic oasis without the need to venture outside. In the luxury homes, you’ll find that the design and aesthetics of the pool are carefully crafted to create a luxurious ambiance, with attention to details such as high-quality finishes, elegant lighting, and comfortable seating areas.
6. Dedicated wine cellars
For wine enthusiasts and connoisseurs, luxury homes in San Antonio offer the perfect opportunity to indulge in their passion for fine wines. Dedicated wine cellars or wine rooms have become increasingly sought after in these upscale properties. These specialized spaces are meticulously designed to provide optimal storage conditions for wine collections, ensuring that each bottle is preserved in the perfect environment.
Climate control systems regulate temperature and humidity levels, protecting the wine from fluctuations that could impact its quality. Custom wine racks and shelving are designed to showcase the bottles, creating an impressive display that adds a touch of sophistication and elegance to the home. Some wine cellars also incorporate tasting areas, complete with comfortable seating and atmospheric lighting, allowing homeowners to savor their collection in a luxurious setting.
Top San Antonio Neighborhoods with luxury home features
In the San Antonio housing market, there are several neighborhoods that are renowned for their luxury homes and exceptional features. The Dominion, known for its exclusive gated community, offers an array of luxurious residences with stunning architecture, spacious lots, and extensive amenities such as private golf courses, resort-style pools, and manicured landscaping. In fact, the median sale price in The Dominion was $890,000 in the month of May, over $600,000 more than the city’s median sale price of $287,598.
Alamo Heights is another sought-after neighborhood, known for its elegant historic homes, tree-lined streets, and proximity to top-rated schools and cultural attractions. Olmos Park is highly regarded for its grand estates, lush greenery, and picturesque streetscapes, while Shavano Park offers a mix of luxurious properties in a tranquil and upscale setting. These neighborhoods not only offer luxurious homes but also provide a desirable lifestyle with convenient access to amenities, shopping, dining, and entertainment.
If you’re buying a luxury home in San Antonio, your Redfin Premier Agent is equipped to offer valuable insights regarding sought-after amenities and popular features that are highly desired by luxury homebuyers. Or, if you’re thinking about listing your luxury home for sale, your agent can assist you in making informed decisions that optimize the appeal and value of your property, particularly in the eyes of discerning buyers.