Connecting our Clients to the Lifestyle of their Dreams – ALLURE OF THE SECOND HOME: WHY AFFLUENT BUYERS ARE DISPLAYING CONFIDENCE IN RESORT MARKETS

The potential market for luxury property has never been bigger.

In our most recent research report, The Allure of the Second Home: Why Affluent Buyers are Displaying Confidence in Resort Markets, we explore the current state of the second home market, as it relates to the affluent consumer, focusing on the top 10% and above income earners in 26 countries, who are in the market to buy or sell a second or vacation home in the next three years.

Who is Considering Buying and Selling?

Buyers, age 40 and younger, are taking over the luxury second home market, but lack the experience of Gen X and Boomers

Luxury second home buyers and sellers have similar demographic profiles in terms of age, geography, education and professional status. As a result, their financial profiles are similar, with the only noticeable difference being that sellers have slightly higher asset levels.

Interestingly, this group has notably high assets for their age. About half of the qualified consumer market is under the age of 40, yet their aspirations for purchase are in the millions of dollars.

For most, this is not their first time purchasing a second home—the average number of residences is over three and 14% own at least five residences currently. Driven not by the Millennial group, but rather by Gen X and Boomers. Of Gen X luxury second home buyers, 17% have more than five homes, along with 19% of Boomers in this buyer group.

Current State of the Resort and Second Home Market

Affluent consumers are in acquisition mode

Those who are in the market to purchase a luxury second home are adding to their portfolio and unlikely to sell their existing second home at the moment—thus there are more buyers than sellers. Interestingly too, this means that sellers are also buyers, but buyers are not necessarily sellers.

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Buyers show more confidence in the market than sellers. More than half of buyers believe that now is a good time to purchase a second home, while relatively few think it is a good time to sell. As noted previously, these consumers are quite savvy when it comes to homeownership; 76% own two or more properties currently.

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What are Second-Home Buyers Looking for?

Wellness is the New Luxury

Affluent consumers have begun living with wellness in mind and this also influences the second home market. In fact, 96% take at least one aspect of wellness seriously as part of their daily routine. Beyond physical and emotional wellness, which most affluent consumers focus on, luxury buyers are keen to improve their intellectual, social and even spiritual wellness.

Amenities that address these needs are sought by buyers and especially resort and second home buyers because of a growing demand for communities that take a holistic approach to overall wellness.

The Bottom Line

With more buyers than sellers, the demand for second homes is keeping home values high for luxury properties. Younger buyers are becoming more prominent, currently making up nearly half of the market, however, older generations have more experience buying second homes. Multiple residences, as well as customized experiences, including wellness amenities becoming a priority.

Would you like more information – just reach out and let’s chat:  214.769.2142

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Connecting our Clients to the Lifestyle of their Dreams – THE LATEST HOME DECOR TRENDS FOR 2019

LOOK at this!  Whether you are looking to overhaul your space or simply change a few accents to update your favorite room, we have researched some of the hottest trends to help you modernize your favorite room. Take a look at some of our favorite home décor trends and get inspired to update your abode.

Antique Pieces

ANTIQUE PIECES

These pieces are trending in the design space in a big way. Incorporate an antique into your living or dining room area for an interesting conversation piece.


Pop of Color

ADD A POP OF COLOR

Update a space with a rich pop of color for fall. Pinks and greens are go-to colors for many but for a bold statement, incorporate rich reds in pillows, curtains or furnishings.


Embrace Orange

EMBRACE ORANGE

Fall’s staple color orange has been an accent color for years and now, it is coming into its own. For a daring change, try orange walls or flooring in your space.


Bold Biophilia

BOLD BIOPHILIA

Embrace the outdoors with a biophilic design in your home. Incorporate plants or highlight your garden area to bring the outdoors in.

To stay abreast of the latest trends in home decor, travel and more subscribe to CLo & DLo.

Connecting our Clients to the Lifestyle of their Dreams – LUXURY HOMES DESIGNED BY FAMED ARCHITECTS

Often, homes crafted by notable architects are revered by owners who appreciate excellent craftsmanship. Many famous architects like Frank Lloyd Wright and Donald Olsen, have designed beautiful homes that are admired by modern architects and artists. These homes showcase some of the creations from some of the most famous architects around the world.

Contact us for more information:  214.769.2142 or click here

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A FRANK LLOYD WRIGHT MASTERPIECE

NEW CANAAN, CONNECTICUT | US $7,200,000

Tirranna was designed by famed architect, Frank Lloyd Wright in 1955. Frank Lloyd Wright is known as one of the greatest architects of the 20th Century and designed more than 1,000 structures during his career. The unique mid-century home hosts 7-bedrooms and 8 and one-half baths near the Noroton River. Unique accents in the home include glass walls, classic wood finishes and gold leaf chimneys. The space also has a tennis court, a pool and access to sculpture paths through the woods that lead to the nearby river. Web ID: UVIT


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DR. FRANK GEHRY’S CONTEMPORARY DESIGN

SUNSET STRIP, CALIFORNIA | US $4,899,000

Awe inspiring design can be found at each turn in this contemporary space located just north of the sunset strip. Designed by legendary architect Frank Gehry, this home has several spaces for relaxing and entertaining guests including a pool and a nearby terrace. Inside, an expansive master suite envelops the entire second floor of the home and features picturesque windows peering out to magnificent ocean views. Web ID: MRFD


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LUDWIG MIES VAN DER ROHE’S MINIMALIST LUXURY

HAGEN, GERMANY | PRICE AVAILABLE UPON REQUEST

This breathtaking modern home was built after the original plans by Ludwig Mies van der Rohe, a pioneer of contemporary architecture. Modern accents including floor to ceiling windows and clean white walls can be found throughout the space. The master suite on the first floor has and en-suite bathroom and access to a terrace. Additional amenities include an outdoor garden, pool and sauna and a double garage with home access. Web ID: TPDQ


Web ID: EUOC

THE DONALD AND HELEN OLSEN HOUSE

BERKELEY, CALIFORNIA | US $1,795,000

Designed by architect Donald Olsen, the Olsen house is listed in the National Register of Historic places. This striking 3-bedroom is positioned to complement its natural surroundings. The “crystal box” structure of the home provides great views of the nearby greenery, and in some areas, thrusts out toward the trees surrounding the space. Additional amenities in the home include expansive storage space, a painting studio, and an entryway featuring an original mural by artist Claire Falkenstein. Web ID: EUOC

Connecting our Clients to the Lifestyle of their Dreams – EVENTS FOR HORSE ENTHUSIASTS

Whether you are a regular at the stables or just enjoy watching races, there are several events around the world catering to horse aficionados. Take a look at a few of our favorite equestrian events and get inspired to book your next trip.

Want more information on other FAB events?  Let’s Chat – 214.769.2141 or click here

Equestricon

EQUESTRICON

Horse racing’s only fan convention, Equestricon, welcomes horse lovers from around the world for special events, panels and more in the realm of Thoroughbred racing. In 2018, the convention spanned two days and included a meet and greet for trainers, a racehorse retraining seminar and an introduction to thoroughbred horse ownership for beginners. The 2019 dates for Equestricon have not been announced, but fans can follow the event on social media to learn more. equestricon.com


Salamander Resort & Spa

SALAMANDER RESORT AND SPA

Located in the heart of horse country, Middleburg, Virginia, this 168-room property has equestrian facilities including an outdoor riding area and several secluded trails. The resort is ideal for new and advanced riders with classes available to guests from May through October. Adding to the spa and wellness elements of the resort, the facility also offers yoga classes and spa treatments for guests. salamanderresort.com


The Winter Equestrian Festival

THE WINTER EQUESTRIAN FESTIVAL

Each year, The Winter Equestrian Festival is held in Wellington, Florida and offers competitions for junior, adult amateur and professional riders in 70 divisions. It is the longest-running equestrian competition in the world. Participants from 2 to 70 years old compete in a 3-month long competition showcasing the best riders from around the world. pbiec.coth.com

Connecting our Clients to the Lifestyle of their Dreams – Weekend Getaways: Austin

If you could live anywhere in the world, where would it be? Ever thought about Austin?

A perfect time for a Road Trip to check this area out! Home to the Texas State Capitol, The University of Texas, iconic Sixth Street and keeping things weird, Austin has established a vibe all its own — think California-cool meets classic Texas charm. Every street, shop and local hotspot is buzzing with a vibrant elegance, yet offers a cool and eclectic flair.

Here are some of our favorite recommendations for the perfect weekend road trip to Texas’ most Instagram-able city.

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Where to Stay

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Hotel Saint Cecilia@hotelsaintcecilia

A secluded property that embodies the elegance of old-world luxury and the irreverence of artistic spirits and revolutionary idols alike. Visit the lobby shop for exclusive finds, like fragrances crafted with flowers from the hotel’s own garden.

Where to Dine

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The Knotty Deck & Bar | @knottydeck

Cap off an eventful day with Texas-themed cocktails, farm-to-table scratch fare and arguably one of the best patios in town.

Where to Play

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Unbarlievable | @unbarlievable

Toast delightful libations in an incredibly fun atmosphere with a carnival theme.

Let’s Chat: 214.769.2142 or read the full story in our spring/summer issue of Grand Vie: Luxury in Living.

For more information on Austin or any other city around or near DFW, just connect with us by calling or texting 214.769.2142.

Connecting our Clients to the Lifestyle of their Dreams…Featuring: SAN MIGUEL DE ALLENDE

If you could live anywhere in the world, where would it be?  Here’s an idea –  Named the best city in the world by Travel + Leisure in both 2017 and 2018, the small town of San Miguel de Allende is revered around the world for its stunning architecture, incredible cuisine and peaceful lifestyle. Gaining attention from both retirees and expats, the city is becoming increasingly popular leaving many to wonder if home prices will increase over time. In this month’s Global Market Guide, we take an inside look at the current state and the predicted future of the luxury real estate market in San Miguel de Allende, Mexico.

Sounds interesting, doesn’t it?  Want to know more…just call us: 214.769.2142

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MARKET TRANSACTIONS

Transactions in San Miguel are primarily done in cash, so many agents have found that it is easier to vet clients because they know that potential home owners are coming to the table prepared to buy.

Exclusive listings are prevalent among sellers in the market. Buyer representation is not dominant like it is in the United States although, there are agents in San Miguel de Allende that focus specifically on helping buyers throughout the transaction since the process is much different than in other parts of the world.

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CURRENT HOUSING MARKET

Clients come to San Miguel for the high-end location, stunning views, pools and a relaxing quality of life. Recently, buyers in the area have been looking for homes with cleaner lines and contemporary design, which differ from the arches and Spanish colonial aesthetic that is dominant in the area.

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NEW CONSTRUCTION

There has been an influx of new construction just outside of the city within the past 5-7 years, and many luxury buyers have been attracted to these new developments. Traditionally buyers are interested in nearby attractions such as vineyard and equestrian offerings and several have been attracted to the mall and golf course near many of the new developments outside the city.

LUXURY BUYER PROFILE

Because San Miguel is a secondary market, where many buyers travel to purchase second and vacation homes, many buyers are often very clear on their preferences when purchasing a residence. These buyers are focused on harnessing the cultural experience with a level of sophistication.

CURRENT POLITICAL CLIMATE

Last year (2018) proved to be the best year on record for our member. Sales saw a significant decrease during the election, however following the election, when it was confirmed that the peso would not be affected, sales began to increase. Since the election prices in the area have remained steady and buyers are once again confident in the market.

GROWTH IN THE MARKET

Currently, San Miguel is seeing significant price improvement in the area, which our member predicts will stabilize the market for the next quarter. The demand for real estate is high in the area as more retirees and expats flock to the area.

Both culturally and artistically dynamic, the small city is protected by UNESCO preserving much of the original architecture and historically significant monuments that draw potential buyers to the area.

In mid-2018 local authorities temporarily blocked individuals from selling buying or remodeling properties until new regulations were set up to limit and preserve architecture in the area. Since then, new construction has remedied much of this and San Miguel de Allende continues to expand welcoming locals and foreign buyers alike.

 

Special thanks to our member CDR Bienes San Miguel for providing their insights about the luxury market in San Miguel de Allende, Mexico.

For more information about properties in San Miguel de Allende, browse here.  OR just contact us directly at 214.769.2142

Where To Watch the Super Bowl in Dallas

The best watch parties for Sunday’s big game.

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Happiest Hour in Harwood District is hosting a free Big Game Watch Party in its downstairs lounge and lawn, and a VIP watch party upstairs on its covered patio. The free party will have beer tower specials and $5 off Team Happytizers. The VIP party, which costs $35, will have an all-you-can-eat buffet. Doors open at 4:30 p.m.

Checkered Past Winery in the Cedars has a Big Game Watch Party with lots of prizes and tasty bites. $25 tickets will get you access to the game day buffet, while $50 tickets also include tickets to win prizes and guaranteed seating. Doors open at 4:30 p.m.

Sports radio authority The Ticket is hosting a free Patriots vs. Rams watch party at The Bomb Factory on Sunday. Doors open at 3 p.m. and there will be food and drink specials all day. The venue’s giant screen always draws a crowd on game day, so reserve your spot here.

House of Blues has a watch party with two big screens, a live DJ, and discounted drinks and appetizers. Admission is free with RSVPbefore 4:30 p.m. and $5 between 4:30 p.m. and  5 p.m.

Three Links Super Chili Bowl IV is on Sunday, so you can watch the game on the big screen while judging an array of meaty stews. Matt Hillyer of Eleven Hundred Springs will also give a performance during the cook off. Doors open at 3 p.m. and admission is free.

If you want to enjoy a wide assortment of snacks during the Super Bowl, Legacy Hall’s watch party might be your best bet. The Plano food hall will have happy hour from 3 p.m. to the end of the game, and there are more than 20 food stalls to choose from.

Four Corners Brewing Co. starts its watch party at 2 p.m. with food from LUCK, trivia, and pregame festivities. Admission is free and doors open at noon.

White Rock Alehouse & Brewery has a Superb Owl Party with prizes and food and drink specials starting at 5 p.m.

Dot’s Hop House & Cocktail Courtyard is teaming up with Bumble for a Super Bowl viewing party starting at 5:30 p.m. Show your Bumble app for a free drink and Bumble merch.

Watch the game at Doc B’s and enjoy happy hour specials all day ($2 off bottled beer, $4 off  draft beer, $5 off house spirits, $6 off wine and champagne).

Scout at The Statler’s watch party is all about the food deals. $1 wings, $1 sliders, $1 off draft beers, $5 wells, and $20 buckets of beer. Plus: ping pong, pool, and foosball.

Perle on Maple, the newly renovated bar inside The Stoneleigh Hotel, is offering $4 draft beers and discounted bar bites starting at noon.

Watch the game and play some bingo to win beer and prizes at On Rotation. Party starts at kickoff.

Noble Rey Brewing will have the game will be playing on all of the breweries TVs. Oh, and there’s a potluck (bring your favorite dip!), complimentary hot dogs, and plenty of beer.

Go to Stan’s Blue Note to nosh on half-priced food from 4:30 p.m. until 6 p.m. and enjoy happy hour specials from 4:30 until the end of the game.

Bonus: MUTTS Canine Cantina (for the Puppy Bowl): Bring your fur child to this dog park this Sunday  from 1 p.m. until 4 p.m. to watch the Puppy Bowl.

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